On Friday, the 7th of February 2020, Minato City, Tokyo-based Japan’s third largest automaker, Honda Motor Co. Ltd. had revealed its fourth quarterly earnings’ report that was well above analysts’ estimates, while, the Minato City-based automotive industry tycoon had raised its full-year forecast for operating profit by 6 per cent as a much weaker Japanese Yen appears to have bolstered its earnings from overseas sales or exports.
Besides, according to the fourth quarterly earnings’ report of Honda Motor Co. Ltd., the third-largest Japanese carmaker behind Toyota and Nissan, the automotive industry giant posted an operating profit of $1.52 billion (166.6 billion Japanese yen) which has been marginally lower compared to an operating from of $1.55 billion (170.1 billion Japanese Yen) at the same time a year earlier.
beating an average forecast of $1.36 billion or 149.5 billion Japanese Yen, Refinitiv data had revealed. Apart from that, Honda had also raised its full-year operating profit forecast to $6.6 billion (730 billion Japanese yen) for its fiscal year that would be ended on March 31st from a prior projection of $6.29 billion (690 billion Japanese Yen) In point of fact, Honda’s upbeat quarterly earnings’ report for the quarter that ended on December 31st came as a breather as the Japan’s third-largest carmaker had been scuffling to maintain its operational expense, while the automaker’s profitability became nearly halved over the past couple of years due to potential quality-linked issues. [1 US Dollar equals 109.78 Japanese Yen]