Japanese automakers post more record results

More Japanese automakers have posted record profits for the fiscal year ending in March, with the combination of a weak yen and brisk sales proving to be a windfall.

Honda Motor reported group sales of 20.4 trillion yen, or about 131 billion dollars, which is up over 20 percent in yen terms from a year ago.

Group operating profit surged 77 percent, hitting about 8.8 billion dollars. Both are record highs. The company enjoyed robust sales in North America.

President and CEO Mibe Toshihiro said Honda has significantly improved the profitability of its motorcycle and automobile operations.

He added that this would help build a strong foundation to promote its electric vehicle business.

Meanwhile Mazda Motor saw record group operating profit of 1.6 billion dollars, which is up over 76 percent year-on-year. Strong sales of its large SUVs in the US played a key role.

Both Toyota Motor and Mitsubishi Motors also posted record operating profit.