Subscribe free to our newsletters via your
. 24/7 Space News .




CAR TECH
Honda quarterly profit jumps fourfold to $1.7 bn
by Staff Writers
Tokyo (AFP) July 31, 2012


Honda Motor said Tuesday its net profit surged more than fourfold to $1.7 billion for the three months to June, underscoring a recovery from the impact of last year's quake-tsunami disasters.

The Japanese automaker posted a net profit of 131.7 billion yen ($1.7 billion) for the April-June quarter, up from 31.8 billion yen for the same period last year.

Sales soared 42.1 percent to 2.44 trillion yen while operating profit jumped to 176.0 billion yen from 22.6 billion yen a year earlier, the company said.

The sales and profit gains were "due primarily to increased revenue in automobile business operations as production recovered from the effects of the Great East Japan Earthquake", it said in a statement.

Honda left unchanged its full-year forecast, still projecting net profit at 470 billion yen on sales of 10.3 trillion yen for the fiscal year to March 2013.

"Strong sales of new models as well as a strong recovery from the supply chain disruption caused by the (natural disasters) contributed to a significant increase in profit in Japan and North America automobile operations," the automaker said in a statement.

It added that a boost in its Asian car and motorcycle business also helped the bottom line despite a still-weak European market.

Honda shares climbed 2.08 percent to 2,551 yen in Tokyo on Tuesday, with the results released after markets closed.

Japanese automakers saw extensive damage to their supply chains as a result of last year's earthquake and tsunami in Japan and flooding in Thailand in the autumn.

A high yen also ate into exporters' sales and profits.

Japanese automakers have come under pressure from the value of the currency, which last year hit record highs against the dollar and remains strong, making exports relatively more expensive overseas and cutting the value of repatriated earnings.

In April, Honda said its net profit for the fiscal year to March plunged 60.4 percent to 211.5 billion yen while its full-year sales were down 11.1 percent to 7.95 trillion yen.

Among Japan's biggest carmakers, Honda was hardest hit and the slowest to recover from last year's natural disasters.

But Honda's results Tuesday were rosier than rival Nissan, which last week said its quarterly profit tumbled 15 percent as strong yen and weak European market dented earnings.

But Nissan, Japan's second-biggest automaker after Toyota, said its full-year forecast was on track.

In its fiscal first-quarter through June, Nissan said its net profit fell to 72.3 billion yen on sales of 2.14 trillion yen, up 2.6 percent.

On Tuesday, smaller Japanese rival Mazda Motor reported a quarterly net loss of 6.46 billion yen, shrinking a year-earlier shortfall of 25.54 billion yen.

.


Related Links
Car Technology at SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








CAR TECH
Why Some Types Of Multitasking Are More Dangerous Than Others
Columbus OH (SPX) Jul 25, 2012
In a new study that has implications for distracted drivers, researchers found that people are better at juggling some types of multitasking than they are at others. Trying to do two visual tasks at once hurt performance in both tasks significantly more than combining a visual and an audio task, the research found. Alarmingly, though, people who tried to do two visual tasks at the same tim ... read more


CAR TECH
US flags still on the moon, except one: NASA

Another Small Step for Mankind

Russia starts building Moon spaceship, eyes Lunar base

Plans to revisit Moon impeded by financial difficulties

CAR TECH
New York's Times Square to broadcast Mars landing

ESA's Mars Express supports dramatic landing on Mars

Martian polygons and deep-sea polygons on Earth: More evidence for ancient Martian oceans?

Sending Our Curiosity to Mars

CAR TECH
Science fiction comes to life in Italian lab

XCOR Releases Payload Users Guide for Lynx Suborbital Vehicle

NASA Offers Condolences on the Passing of Pioneering Astronaut Sally Ride

Sally Ride, first US woman in space dead at 61

CAR TECH
China to land first moon probe next year

China launches Third satellite in its global data relay network

Looking Forward to Shenzhou 10

Argentina, China ink space cooperation deal

CAR TECH
A Fish Friendly Facility for the ISS

Russian cargo ship manages to dock at ISS on second try

Another Progress Freighter Re-Docking Attempt Set for July 29

Japanese cargo craft docks with ISS

CAR TECH
Checkout begins with the Fregat upper stage for Arianespace's third Soyuz mission from French Guiana

ESA studies future of Europe's launch services

The Intelsat 20 integrated on to Ariane 5 for upcoming flight

Arianespace's Ariane 5 receives its HYLAS 2 payload

CAR TECH
RIT Leads Development of Next-generation Infrared Detectors

UCF Discovers Exoplanet Neighbor

Can Astronomers Detect Exoplanet Oceans

The Mysterious Case of the Disappearing Dust

CAR TECH
Quantifying the Environmental Impact of Structural Materials with B-PATH

Northrop Grumman GATOR Radar System Delivered to Wallops Island for the Start of Government Developmental Testing

Jury picked in blockbuster Apple-Samsung case

BELLA Laser Achieves World Record Power at One Pulse Per Second




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement