Honda Motor Co. Ltd. reported a net profit of ¥570.25 billion in the third quarter of its fiscal year, a year-over-year increase of 237.8%, with the company ascribing the boost to the effects of U.S. tax reform.
Earnings per share of ¥318.50 jumped from ¥93.67 in the third quarter of 2016.
Sales revenue rose to ¥3.957 trillion from ¥3.501 trillion a year ago. Operating profit of ¥284.58 billion compared to ¥207.69 billion.
For the nine months ending Dec. 31, 2017, Honda reported net profit of ¥951.59 billion and EPS of ¥529.39. Sales revenue amounted to ¥11.446 trillion and operating profit stood at ¥706.73 billion. In comparison, the company posted a net profit of ¥520.61 billion and EPS of ¥288.86 in the same period in 2016. Sales revenue amounted to ¥10.236 trillion, and operating profit was ¥702.61 billion.
The company said it expects a profit of ¥1.00 trillion and EPS of ¥557.70 in the fiscal year ending March 31, 2018. It expects a 7.8% decline in operating profit as it contends with higher costs for quality-related issues including recalls, along with research and development investment and the effect of pension plan amendments.
As of Feb. 1, US$1 was equivalent to ¥109.45.
