Honda raised its fiscal-year operating-profit forecast to ¥650bln from ¥500bln after quarterly results, citing yen weakness and stronger-than-expected US demand for hybrid vehicles. The company now sees full-year sales of ¥24.15tln versus prior guidance and analyst estimates of ¥23.2tln; analysts’ average profit forecast is ¥676bln. Honda said it expects a profit rebound this fiscal year driven mainly by FX tailwinds and US hybrid sales, while it works to restructure an underperforming auto unit

Honda raised its fiscal-year operating-profit forecast to ¥650bln from ¥500bln after quarterly results, citing yen weakness and stronger-than-expected US demand for hybrid vehicles. The company now sees full-year sales of ¥24.15tln versus prior guidance and analyst estimates of ¥23.2tln; analysts’ average profit forecast is ¥676bln. Honda said it expects a profit rebound this fiscal year driven mainly by FX tailwinds and US hybrid sales, while it works to restructure an underperforming auto unit. The company booked a ¥2.5tln impairment in March that produced its first annual loss since 1948 and said a previously uncompetitive model lineup left it behind in the shift to advanced battery EVs.