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Automobiles

Honda raises profit outlook thanks to weaker yen

Automaker maintains target of 4.2 million unit sales for current fiscal year

Honda will raise prices as it updates models in the U.S., its main market, and look for opportunities to lift prices in Japan. (Photo by Kei Higuchi)

TOKYO -- Honda Motor on Wednesday upwardly revised its operating profit forecast for the current fiscal year ending March 2023 to reflect the weak yen.

The automaker said it now expects 830 billion yen ($6.15 billion) in operating profit for the year through March, a 4.7% decline from the previous fiscal year. The latest figure is narrower than the 7% fall foreseen in May.

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