Honda Motor Reports Fall in Earnings

TOKYO January 28,2005, The AP reported that Honda Motor Co. said Friday its group net profit for the October-December quarter shrank 0.2 percent on-year as the stronger yen crimped its earnings despite upbeat sales.

The nation's third-largest automaker said its group net profit for the third fiscal quarter totaled 150.76 billion yen (US$1.46 billion; euro1.12 billion), down from 151.05 billion yen in the same quarter a year ago.

Honda said group sales for the quarter rose 7.1 percent to 2.134 trillion yen (US$20.68 billion; euro15.88 billion) from 1.992 trillion yen.

The company's group operating profit declined 6.9 percent to 157.64 billion yen (US$1.53 billion; euro1.17 billion).