Honda Records Record Net Profit on Weak Yen and Strong US Demand

Honda Motor Co.'s net profit for the April-June quarter more than doubled to a record high of 450.92 billion yen ($2.86 billion), boosted by strong demand in North America and a weaker yen.

The Japanese automaker's operating profit also rose over twofold to 530.77 billion yen, while sales increased by 13.5% to 6.06 trillion yen.

Honda said the weaker yen contributed 90.8 billion yen to its operating profit, with an assumed exchange rate of 159 yen against the U.S. dollar for the period, compared to 145 yen a year earlier.