Honda 9-month operating profit falls on exploding airbag costs
Tokyo economy
Tokyo - Arab Today
Honda on Friday reported a fall in nine-month operating profit due to "quality related costs," seen as linked to an exploding airbag crisis at parts supplier Takata, but said net profit rose.
Net profit in the nine months through December rose 2.4 percent to 437.9 billion yen ($3.62 billion), as sales jumped 11.3 percent to 10.94 trillion yen, the company said in a statement.
But operating profit fell 3.0 percent to 567.2 billion yen, "due to an increase in sales costs, including quality-related ones," Honda said, trimming its full-year sales forecast to 14.55 trillion yen from the previous 14.60 trillion yen.
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