TOKYO – Honda Motor Co Ltd <7267.T> marginally reduced its annual net profit forecast by 1.3 percent to 370 billion yen after car sales were dented in China following anti-Japan protests, and as it continues to struggle in Europe.
For the third quarter, it posted a 62.6 percent rise in quarterly net profit from a year ago, helped by strong vehicle sales in its biggest market the United States and as the yen weakens, making its products more competitive abroad.
Japan's third-biggest automaker said its net profit for October-December was 77.4 billion yen ($849.94 million), compared with the 47.7 billion yen it booked last year as it suffered from disrupted supply chains after floods hit its and its suppliers' factories in Thailand.
The quarterly profit result released on Thursday was below the average estimate of 111.4 billion yen by 7 analysts polled by Thomson Reuters I/B/E/S.
($1 = 91.0650 Japanese yen)
(Reporting by Yoko Kubota; Editing by Daniel Magnowski)