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Honda Earnings Slide Despite Global Sales Increase

Mazda, meanwhile, surges back into the black.

by on Jul.31, 2013

Despite strong U.S. sales of models like the new Accord, Honda's bottom line results disappointed analysts and investors.

Honda’s bottom line took an unexpected hit during the latest quarter, the third-largest Japanese maker reporting that earnings slid 7% compared to the year before despite increased sales outside its home market and the boost Japanese makers, in general, have been getting from a weaker yen.

Honda reported a net profit of 122.4 billion yen, or $1.25 billion during the April-June period – the first quarter in the Japanese fiscal year. A survey of industry analysts by FactSet showed a consensus forecast of 146 billion yen, or $1.5 billion.

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“The figures were lower” than expected, Yuuki Sakurai, chief executive officer of Fukoku Capital Management Inc., told the Bloomberg news service. “The global economy is slowing down, and just because the yen is weaker doesn’t mean Japanese carmakers can sell cars.”


Honda Profits Rise in Spite of China Problems

Mazda Back in black for first time in 5 years, but Kia earnings hurt by labor dispute.

by on Apr.26, 2013

Strong U.S. demand for the new Honda Accord helped buoy the maker's earnings.

Despite slumping sales in China, the world’s largest automotive market, Honda Motor Co. managed to eke out a 6% increase in earnings for the January-March quarter – largely because the year-ago numbers were still impacted by production cuts from a series of natural disasters.

The maker also benefited from the weakening yen, and Honda CEO Takanobu Ito said he anticipates doing even better in the months ahead as exchange rates shift, reducing the penalty on Japanese-made goods.

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That was also good news for smaller rival Mazda which crept back into the black for the first time in five years — but in Korea, Kia reported Friday that a bitter labor dispute resulted in a big drop in its earnings.

Honda earned 75.7 billion yen, or $765 million, during the final quarter of its fiscal year, compared with 71.5 billion during the same period in 2012. For the full fiscal year, which ended on March 31, earnings soared 73.6% to 367.15 billion yen, or $3.7 billion. Its operating profit, meanwhile, climbed to 544.8 billion yen, up 135.5%.


Honda Quadruples Earnings

Maker bounces back strong a year after quake.

by on Aug.01, 2012

The concept version of the 2013 Honda Accord Coupe.

A year after Japan was rocked by a devastating earthquake and tsunami that nearly brought its auto industry to its knees, Japanese maker Honda is showing clear signs of recovery, reporting quarterly earnings quadrupled this year.

Of course, the numbers have to be compared to a quarter that followed the March 11 disaster. Honda, in fact, was the only maker to report a death at one of its facilities. And, like most of its Japanese rivals, it virtually shut down its Japanese plants for more than a month after the earthquake due to parts shortages.

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Profits for the April-June quarter surged to $1.7 billion, up about 400%, while sales took a similar jump to $31.2 billion as dealers in Japan, the U.S. and other key markets finally had enough product to sell.