Honda's net profit rises but misses forecasts

|About: Honda Motor Co., Ltd. (HMC)|By:, SA News Editor

Honda's (HMC) FQ2 net profit jumped 46% to ¥120.3B ($1.225B), although it missed forecasts of ¥134.9B.

Revenues climbed 27.3% to ¥2.89T, mainly due to "increased revenue in automobile and motorcycle business operations," as well as due to the weaker yen.

Operating profit +70% to ¥171.4B, helped by an increase in sales volume and an improved model mix.

Forecasts that FY 2014 net profit will rise 58% to ¥580B - below consensus of ¥610.8B - and that revenues will grow 22.5% to ¥12.1T. (PR)

Meanwhile, Honda has agreed to sell its its Elesys electronic parts subsidiary to Japan's Nidec (NJ), with a report putting the price at ¥50B. (PR)