Honda said it expects a 63.5% drop in group net profit to JPY195bn (US$2.43bn) for fiscal 2011, following production drops from the earthquake and tsunami in March according to Kyodo.
The manufacturer estimates a 64.9% decline in operating profit to JPY200bn and a 7.1% fall in sales to JPY8.3tn for the year ending March 2012 added the publication.
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The automaker also noted the profit and sales falls due to a stronger yen and increased production costs.
