Arab Today, arab today honda motor net profit down 7 on fresh spending
Last Updated : GMT 04:15:47
Arab Today, arab today
Arab Today, arab today

Toyota set to announces quarterly earnings

Honda Motor net profit down 7% on fresh spending

Arab Today, arab today

Arab Today, arab today Honda Motor net profit down 7% on fresh spending

Honda Motor employees introduce the company's new hybrid sedan Accord Plug-in Hybrid
Tokyo - Arab Today

Honda Motor employees introduce the company\'s new hybrid sedan Accord Plug-in Hybrid Japan\'s Honda Motor said Wednesday its group net profit slipped 7.0 percent in April-June, with US sales growth and the benefits of a weaker yen offset by increased spending on a major expansion.
Net profit came to 122.5 billion yen ($1.2 billion) in the quarter, while revenue grew 16.3 percent from a year earlier to 2.83 trillion yen, it said.
Operating profit rose 5.1 percent to 185 billion yen.
Profits were squeezed by Honda\'s heavy spending as it looks to expand production and further tap emerging markets.
The firm previously set aside 700 billion yen for capital spending for the current fiscal year to March 2014, an 18 percent jump from the previous year. It hopes to meet a global production target of six million units by the end of March 2017.
Honda\'s revenue from the Japanese market fell on lower automobiles sales but income from North America soared on the weaker yen.
The automaker left unchanged its forecasts for the fiscal year to March 2014, expecting net profit to soar 58.0 percent to 580 billion yen on a 22.5 percent rise in revenue to 12.1 trillion yen.
Prime Minister Shinzo Abe\'s push for active spending by the government and massive monetary easing by the central bank has driven the yen down since late last year.
A weak yen is generally good for Japanese exporters as it makes their products more competitive abroad while inflating the value of their foreign income.
Honda rival Nissan said last week net profit rose 14 percent to 82 billion yen in April-June as sales in North America soared while the yen\'s weakness boosted its bottom line.
But the country\'s second-biggest automaker also warned that sales to China, the world\'s biggest car market, tumbled while demand in recession-riddled Europe was also weak.
The world\'s biggest automaker Toyota will announce its quarterly earnings this week.
Tatsuya Mizuno, auto analyst with Mizuno Credit Advisory, told AFP before Honda\'s results were published that Japanese automakers \"are on course to recovery in general thanks to a weak yen\".
But he also cautioned that the currency could reverse course, dealing a blow to firms\' finances.
\"Also, the outlook for the Chinese economy is quite uncertain, which may affect the nation\'s demand for new cars,\" Mizuno said.
\"For the domestic market, the focus is whether the consumption tax (increase) will be introduced or not,\" he said.
Mizuno said buyers rushing to beat the tax rise would temporarily boost demand, but it would plunge once the higher tax was in place.
Abe said his government would scrutinise economic developments before deciding whether to go ahead with the planned tax hikes that are seen as crucial to shrinking Japan\'s eye-watering public debt, proportionately the worst among industrialised nations.
The current 5.0 percent consumption tax is scheduled to rise to 8.0 percent in April 2014 and to 10 percent in the following year.
Source: AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today honda motor net profit down 7 on fresh spending Arab Today, arab today honda motor net profit down 7 on fresh spending

 



Arab Today, arab today
Arab Today, arab today US, Britain ban laptops on flights

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Hezbollah commander killed by own men

GMT 07:43 2017 Wednesday ,22 March

Hezbollah commander killed by own men
Arab Today, arab today Tunisian media host praises her new experience

GMT 12:35 2017 Wednesday ,15 March

Tunisian media host praises her new experience
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Palestinian police wage war

GMT 07:53 2017 Friday ,17 March

Palestinian police wage war
Arab Today, arab today Dalia Mustafa believes in the presence of ghosts

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 14:17 2017 Monday ,20 March

Cholesterol-slashing drug not impair brain

GMT 17:08 2017 Saturday ,18 March

Reveals secrets of tourism flights to space

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 15:42 2017 Saturday ,18 March

HTC U Play now available in KSA

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday