Honda's net profit rises 7.6% to 707.07 bil. yen in FY 2021

Honda Motor Co. said Friday its net profit for the previous fiscal year rose 7.6 percent from a year earlier to 707.07 billion yen ($5.5 billion), helped by the depreciation of the yen against the U.S. dollar.The Japanese automaker said it forecasts a 0.4 percent rise in net profit to 710 billion yen in the current business year through March 2023 amid uncertainty over the outlook for the global semiconductor shortage and the impact of coronavirus lockdowns in China.Honda expects its sales to increase 11.7 percent to 16.25 trillion yen but operating profit to fall 7.0 percent to 810 billion…READ FULL ARTICLE