Honda posts record sales, profit for Apr.-Dec. period

Japanese automaker Honda Motor has posted record sales and operating profit for the nine months that ended in December.

The company's latest earnings released on Thursday show group sales rose 19.8 percent to 14.99 trillion yen, or about 101 billion dollars. Operating profit surged 46.7 percent to 1.07 trillion yen, or roughly 7.2 billion dollars.

The strong performance came on the back of brisk sales in the Japanese and North American markets. The Japanese currency's weakness also pushed up the value of overseas earnings in yen terms.

It is not yet clear how the major earthquake that struck central Japan on New Year's Day will affect Honda and its domestic competitors.

Honda says minicar output has been cut by about 20,000 units since the quake due to delays in getting parts.

Chief Financial Officer Fujimura Eiji said Honda has not revised its fiscal 2023 forecast to reflect the change. He said the experience gained during the recent global chip shortage means the company has a clear picture of the supply situation and progress in developing alternative products.