Honda Motor first-half profit falls but revenue rises

Honda Motor Co. Ltd. reported a pretax profit of ¥741.95 billion (USD4.82 billion) for the first half, down from ¥879.29 billion a year earlier, mainly due to investment losses and higher finance costs.

Honda Motor first-half profit falls but revenue rises

The Tokyo-based automaker reported a ¥20.76 billion loss on investments, a significant drop from last year’s ¥66.72 billion profit. Additionally, other finance costs rose to ¥55.59 billion, compared to finance income of ¥58.04 billion in the prior period. Net profit fell to ¥494.68 billion, or ¥103.25 per share, from ¥616.30 billion, or ¥124.63 per share, a year earlier. However, operating profit rose to ¥742.61 billion from ¥696.57 billion.

Revenue increased

Revenue increased to ¥10.797 trillion, up from ¥9.609 trillion in the same period last year. For the full fiscal year, Honda forecasts net profit of ¥950 billion, or ¥202 per share, on revenue of ¥21.000 trillion.