Latest News

Tuesday, 31st July 2012
In Business In Japan,

Honda finally recoups profits in wake of tsunami disaster

Japanese car manufacturer Honda is finally enjoying profits gains following the devastating effects the twin disaster of March 2011 had on its business.

The company said today (July 31st) that its consolidated operating income for the period between April and June was around 7.8 times that of the same quarter in 2011, totalling 176 billion yen (£1.43 billion).

Strong sales of new models in its automobile division also helped to drive net sales and other operating revenue up by an incredible 42.1 per cent, with the revenue increase attributed to recovery from the impact of the earthquake.

Net income at Honda Motors was around four times higher than in 2011, after amounting to 131.7 billion yen (£1.07 billion), signifying the impacts of the disaster are starting to dissipate.

The group was able to increase its dividend per share by 16 yen (£0.13), with cash dividends for the end of the fiscal year set to be 76 yen (£0.62) per share.

Honda was first established in September 1948, with its headquarters set in Tokyo.

Posted by Graham McPherson

Related news stories:
Honda hit by more China strikes (8th June 2010)
Honda Fit Hybrid goes on sale (12th October 2010)
Honda workers strike hits Japanese economy (4th June 2010)
Honda recalls more cars (18th March 2010)
Japanese carmakers UK's most reliable, survey finds (26th July 2012)