Honda Posts Strong Q1 Results After Annual Loss

Honda Motor Co., Tokyo-based automaker, reported robust results for its fiscal first quarter after posting its first-ever annual loss. The company's profit more than doubled to 456.9 billion yen ($2.9 billion) from a year ago, driven by strong sales in the U.S. and India.

The quarterly sales rose 13.5% to 6.06 trillion yen ($38 billion), with motorcycle operations being particularly lucrative due to high demand in Brazil and India. However, car sales struggled in China.

Honda's Chief Financial Officer Masao Kawaguchi attributed the company's turnaround to a favorable exchange rate, which benefited Japanese exporters like Honda. The company is expecting a return to profit for this fiscal year and has raised its profit forecast to 400 billion yen ($2.5 billion).