Strong Asia sales drive up Honda profit forecast

Tokyo

HONDA Motor Co Ltd on Wednesday raised its forecast for full-year operating profit by 2.8 per cent as it expects to sell more cars and motorcycles this year, particularly in Asia, while it also sees cost reductions and a weaker yen boosting its bottom line.

Japan's third-biggest automaker anticipates an operating profit of 745 billion yen (S$9 billion) in the year to March, up from a previous forecast of 725 billion yen due to stronger car sales in China, while it also expects motorcycle sales in India, Indonesia and Vietnam to keep growing.