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Honda Motor Expects Annual Profit Fall, Announces Share Buyback

By Kosaku Narioka


Honda Motor projected a drop in fiscal-year net profit on lower revenue and announced a share buyback.

The Japanese automaker said Friday that it expects net profit to decline 9.7% to 1.000 trillion yen ($6.43 billion) and revenue to fall 0.6% to Y20.300 trillion for the year that began in April.

For the year ended March, net profit climbed 70% as revenue rose 21%.

Honda said it will buy back up to Y300.0 billion of its shares by the end of March 2025. The company may repurchase up to 3.7% of its outstanding shares, it said.

Earlier this week, rival Toyota Motor projected a drop in net profit for the new fiscal year, partly because of higher material and labor costs and research and development expenses. Nissan Motor also forecast lower annual net profit despite projected sales growth, citing heightened competition and high inflation.


Write to Kosaku Narioka at


(END) Dow Jones Newswires

May 10, 2024 02:52 ET (06:52 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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