TOKYO -- Honda Motor on Wednesday raised its full-year earnings forecast to 670 billion yen ($5.8 billion) from the 555 billion yen it had forecast in November, as the negative impact of the global chip shortage was offset by cost cuts, reduced dealer incentives and a weaker yen.
Honda now expects an operating profit of 800 billion yen for this fiscal year ending in March. It had previously forecast an operating profit of 660 billion yen. However, it made a slight downward revision on its revenue forecast to 14.55 trillion yen from 14.6 trillion yen.
