ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

World's top motorcycle maker Honda not immune from virus

Net profit projected to fall 64% with slump in India and other key markets

A Honda factory in Gujarat, India. The coronavirus has dealt a blow to motorcycle sales in the country.   © Reuters

TOKYO -- Honda Motor said Wednesday that group net profit will plunge 64% to 165 billion yen ($1.56 billion) for the year ending March 2021, as the coronavirus batters its usually lucrative motorcycle business.

Honda logged its first-ever net loss for the April-June quarter of 80.8 billion yen, according to earnings results announced Wednesday. The vehicle maker expects revenue for the full year to fall 14% to 12.8 trillion yen. Annual dividends will be reduced 60% to 44 yen a share, the first cut in 11 years.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more