Honda sees up to 690 bil. yen net loss, 1st annual net loss since listing

TOKYO - Honda Motor Co. said Thursday it expects its first full-year net loss since its listing nearly 70 years ago this fiscal year, as it estimates losses of 2.5 trillion yen ($16 billion) linked to a revamp of its electric vehicle business.

The Japanese carmaker said it will likely plunge into a net loss of between 420 billion yen and 690 billion yen for the current business year ending this month.