TOKYO, Feb 08 (AFP): Japanese automaker Honda on Thursday upgraded its annual profit forecast thanks to a strong dollar and healthy North American demand, while rival Nissan said its net profit almost tripled year-on-year.
Honda now projects an annual net profit of 960 billion yen ($6.45 billion), up 30 billion from the previous forecast.
The decision "reflects further strengthening measures to improve profitability and the positive impacts from currency effects," Honda said.
For nine months to December, Honda's net profit rose by nearly 50 per cent to 869.6 billion yen, on sales of 15 trillion yen, up 19.8 per cent.
During the three quarters, US sales surged 43 per cent while those in Japan rose 8.6 per cent.
Going forward, the company said it expects a pick-up in Chinese sales volume to compensate for falls in markets such as Thailand and Indonesia.
Honda's rival Nissan also reported a strong performance in the first three quarters, with net profit almost tripling year-on-year to 325 billion yen.
Honda, Nissan release robust earnings reports
FE Team | Published: February 09, 2024 01:00:56
Honda, Nissan release robust earnings reports
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