Honda Motor said operating income for its fiscal fourth quarter to 31 March, 2015 fell 32.3% to to JPY111.9bn due to cost rises “including quality-related expenses” and a decline in automobile unit sales in Japan.
That was offset by strong sales in Asia and favorable currency effects associated with depreciation of the Japanese yen.
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Operating income for the full fiscal year was down 13.1% to JPY651.6bn and net income fell 8.9% to JPY522.7bn for the same reasons as in the final quarter.
Automobile sales inched up 0.9% in the final quarter to 1.204m. Full year volume was 4.364m, essentially flat.
Honda has forecast 4.715m auto sales for fiscal 2015/16. It expects JPY685bn in operating profit and a net profit of JPY525bn.
