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March 7, 2021
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HONDA EARNINGS
(2007-04-25)
(wgvu) - HONDA SAYS ITS PROFITS FELL 20 PERCENT IN THE FIRST
THREE MONTHS OF 2007 DESPITE STRONG SALES.
THE DECLINE IN PROFIT STEMMED FROM A SPECIAL GAIN IN A JAPANESE
GOVERNMENT REIMBURSEMENT FOR PENSION FUNDS THAT HAD BOOSTED
EARNINGS FOR THE PREVIOUS YEAR.
RISING RAW MATERIAL COSTS AND RESEARCH EXPENSES ALSO HELPED PUSH
EARNINGS DOWNWARD, OFFSETTING THE POSITIVE EFFECT OF COST CUTS AND
THE WEAK YEN.
HONDA IS JAPAN'S SECOND-BIGGEST AUTOMAKER.
PROFIT FOR THE FISCAL FOURTH QUARTER TOTALED ONE-POINT-FIVE BILLION DOLLARS.
QUARTERLY SALES ROSE NINE PERCENT TO 26 BILLION DOLLARS.
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