Honda Motor’s consolidated sales revenue for the fiscal year ended 31 March, 2023 increased 16.2% year on year to JPY 16,907.7bn due mainly to increased sales revenue in the motorcycle business as well as positive foreign currency translation effects.

Operating profit fell 3.7%, to JPY 839.3bn due mainly to “decreased profit attributable to sales impacts and increased expenses including product warranty expenses, which was partially offset by positive foreign currency effects”, the automaker said.

Pre-tax profit fell 12.3% to JPY 938.1bn and net profit was down 1.7% to JPY 695.2bn.

Earnings per share dropped JPY1.22 to JPY 409.87.

The company sold 3.69m automobiles against a forecast of 3.85m. It is aiming for 4.35m in fiscal 2023/4 and operating profit of JPY1 trillion.