Weak Yen Boosts Honda Profit but Inflates EV Losses

Honda's quarterly profits have hit a record high due to the weak Japanese yen. However, this has also led to increased costs for electric vehicle-related restructuring payouts to suppliers.

CFO Masao Kawaguchi attributed the strong operating profit in the April-June quarter to the ultraweak Japanese yen. This benefit is expected to continue, but it will also inflate the EV-related losses Honda books later in the fiscal year.