Honda Motor (HMC -0.2%) points to F/X and research spending as two drags on profit in FQ1.
"Our costs are rising to develop new technologies which will be needed in the future, like automated driving functions and electric cars," notes Executive VP Seiji Kuraishi.
Looking ahead, Honda says it expects to sell 5.1M vehicles in the fiscal year that runs through March 2018. A 16% drop in operating profit to ¥705B ($6.34B) is anticipated.
Previously: Honda Motor reports FY results (April 28)
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