Honda’s quarterly profit doubled from a year earlier as sales got a big perk from a weak yen.
Honda Motor Co. reported on Friday a 160.7 billion yen ($1.58 billion) net profit for the October-December fiscal third quarter, up from 77.4 billion yen the year before.
The maker of the Fit subcompact, Odyssey minivan and Asimo humanoid, posted a 25 percent jump in quarterly sales to 3.02 trillion yen ($29.6 billion).
A favorable exchange rate helped Honda’s fortunes. The dollar has been trading above 100 yen compared with about 80 yen a year earlier. A weak yen helps lift the value of Japanese exporters’ overseas revenue.Read Article