It's hard to believe, but Honda, which has spent decades building a reputation for bulletproof reliability and steady growth, has just posted the worst financial result in its history. For the fiscal year ending March 31, 2026, the automaker reported a loss of 423.9 billion yen (approximately $2.7 billion), marking the first time it has finished a year in the red since it began releasing results as a publicly listed company in 1957.

 

Naturally, Honda CEO Toshihiro Mibe, who has led the company since 2021, absorbed much of the blame and, as a result, came dangerously close to losing his job. However, several of Mibe's recent strategic moves ultimately won the backing of the board, and for now, the man at the center of Honda's biggest crisis in decades remains in charge.