Honda records lower profit but projects record sales ahead
But the Japanese automaker said Thursday that recovery was on the way, forecasting record sales and operating profitability for the current fiscal year.and rising research costs offset the perks of a favorable currency exchange rate.
A cheap yen is a plus for Japanese exporters like Honda because it raises the value of overseas revenue when it is converted into yen.Tokyo-based Honda Motor Co. projected record sales revenue for the fiscal year ending in March 2024, at 18.2 trillion yen . The 1 trillion yen operating profit projected for the fiscal year, if achieved, would also be a record for the company.
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