By Kosaku Narioka


Honda Motor Co. said Friday that fourth-quarter net profit slid 41% from a year earlier due partly to weaker earnings from North American operations.

The Japanese auto maker said net profit for the quarter ended March 31 fell to 124.90 billion yen ($973.3 million) from Y213.32 billion a year earlier. That beat the estimate of Y110.49 billion from a poll of analysts by S&P Global Market Intelligence.

Fourth-quarter revenue increased 7.0% to Y3.876 trillion.

Operating profit for North America slid to Y87.00 billion from Y186.65 billion, while that of Asia excluding Japan rose to Y106.88 billion from Y81.82 billion.

Honda said it expected group car sales to rise to 4.2 million units for the fiscal year started in April, from 4.1 million units sold in the previous fiscal year. The company projected group motorcycle sales to increase to 18.6 million units from 17.0 million units.

The car maker said it expected the business environment to remain tough this fiscal year due to further cost increases.

Honda forecast revenue to increase 12% to Y16.250 trillion this fiscal year, and for net profit to rise 0.4% to Y710.00 billion.


Write to Kosaku Narioka at kosaku.narioka@wsj.com


(END) Dow Jones Newswires

05-13-22 0452ET