Honda Motor Co. said Thursday its net profit for the fiscal year ended March fell 1.7 percent from a year earlier to 695.27 billion yen ($5.2 billion), hurt by increased quality control costs.
The Japanese automaker said it forecasts a 15.1 percent rise in net profit to 800 billion yen in the current business year through March 2024.
In the just ended business year, Honda saw its operating profit fall 3.7 percent from a year earlier to 839.40 billion yen on sales of 16.91 trillion yen, up 16.2 percent.
