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Honda posts fall in Q2 operating profit -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Honda’s Modulo Model logo can be seen at the showroom in Tokyo at their headquarters. This was taken on February 19, 2019, by Kim Kyung-hoon. REUTERS/Kim Kyung-hoon

TOKYO (Reuters – Honda Motor Co. reported an operating profit for the second quarter of 198.9 Billion yen ($1.75B) on Friday. It was down from 282.9 Billion yen a full year ago, when it had to decrease vehicle output due to a global shortage of chips.

This result was more than the average forecast of 183.5 billion Japanese yen for the period Sept. 30-31, based upon estimates by nine analysts. Refinitiv data revealed.

Honda has also reduced its full-year profit projection to 660 billion from 780 billion. Refinitiv data revealed that this prediction was lower than the mean of 764.5 billion Japanese yen profits based upon forecasts by 20 analysts.

($1 = 113.6700 yen)

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