Honda raises FY 2022 operating profit forecast to 830 bil. yen

Honda Motor Co. said Wednesday it had raised its full-year operating profit forecast to 830 billion yen ($6.2 billion) from the previously projected 810 billion yen helped by the weaker yen.

The Japanese company also revised upward its sales outlook for the current business year through March to 16.75 trillion yen from 16.25 trillion yen. Its net profit estimate was unchanged at 710 billion yen.

In the three months to June, the automaker's net profit fell 32.9 percent to 149.22 billion yen as car sales declined due largely to a chip supply shortage and a lockdown in Shanghai. Sales were up 6.9 percent at 3.83 trillion yen.

© Kyodo News