Honda posted full-year results, which revealed a strong, +7.6% increase in net profit in the financial year to March, on the back of strong motorbike sales and a weaker yen.
Sales surged +10.5% over the year, largely owing to increased sales revenue in motorcycle business and financial services business operations as well as positive foreign currency translation effects – as indicated by the company.
However, Honda mentioned, "despite shifting to a recovery trend, the economic environment surrounding the company, its consolidated subsidiaries and its affiliates... continued to be difficult due to the impact of (the) semiconductor supply shortage, and increases in raw material costs, among other factors."
Looking ahead, the company expects 710 billion yen net profit for the year to March 2023.