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November 5, 2015

JAPAN: Honda Motor operating profit rises 7.9% in first half

Honda Motor operating profit for the first half (1 April 2015 through 30 September 2015) rose 7.9% to JPY404.1bn (US$3.33bn) due to strong automobile sales in North America and Asia, additional volume from the new HR-V SUV plus cost reductions.

Honda Motor operating profit for the first half (1 April 2015 through 30 September 2015) rose 7.9% to JPY404.1bn (US$3.33bn) due to strong automobile sales in North America and Asia, additional volume from the new HR-V SUV plus cost reductions.

This was offset by an increase in selling, general and administrative (SG&A) expenses that include quality-related expenses. Profit before income taxes was up 59.1% to JPY493.2m compared with JPY434.1m in the previous year.

Honda revised its forecast sales revenue for the current fiscal year to 31 March 2016 upward by JPY100bn to JPY14.6 trillion, citing favourable currency movements. An increase in automobile unit sales in North America and Asia, and cost reductions leaves forecast operating profit unchanged at JPY685bn despite a decline in automobile sales in Japan and an increase in "quality-related expenses" [recalls].

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