An improving Japanese domestic economy, due to new government measures, and a surge of buyers bring new vehicle purchases ahead of a tax rise helped Honda to a 21.5% year on year boost in operating income to JPY165.2bn for the fiscal fourth quarter to 31 March, 2014.
Net income surged 56.4% to JPY574.1bn due mainly to stronger sales in Japan and North America (where the redesigned and now Mexican-made Fit [Jazz] has just been launched) plus buoyant motorcycle sales in Asia.
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The automaker sold 1.2m vehicles in the fourth quarter, up from 1.03m in Q4 2013. Revenue rose to JPY3097.2bn from JPY2,744.9bn.
Full year 2013/2014 operating income rose to JPY750.2bn, up from JPY544.8bn in 2012/2013 but just under JPY30bn short of a 31 January, 2014 forecast of JPY780bn.
Net income rose from JPY367.1bn to JPY574.1bn, short of the JPY580bn forecast. Revenue was JPY11,842.4bn versus JPY9,877.9bn last year.
Vehicle unit sales rose to 4.39m from 4.01m.
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By GlobalDataFor fiscal 2014/2015, Honda forecast unit sales of 4.83m, JPY12,750m revenue, operating income of JPY760m and net profit JPY595m.
