Honda motorcycle sales boost quarterly net profit

Japanese vehicle maker Honda last Tuesday said net profit for the second quarter rose by double digits boosted by strong motorcycle sales, revising up its full-year forecast.
Honda motorcycle sales boost quarterly net profit
The new version of Honda Lead at the Vietnam Motorshow 2017 - Photo: thanhnien

The Tokyo-based company said "solid sales of two-wheel vehicles in Asia and cost reduction efforts" contributed to increased profits.

Motorcycle sales volume grew in India and Vietnam, Honda said, while four-wheel vehicle sales volume increased in Japan and China but declined in North America.

Japan's number-three automaker booked net profit of 207.3 billion yen ($1.88 billion) in the April-June period, up 18.7 percent from the previous year.

Sales grew 7.0 percent to 3.71 trillion yen, while operating profit rose 0.9 percent to 269.2 billion yen.

Honda boosted its net profit forecast to 545 billion yen from an earlier figure of 530 billion yen for the fiscal year ending March 2018.

It also lifted its fiscal year operating profit and revenue outlooks.

"Honda's profit pales compared to figures last year when it booked a one-time gain in a pension accounting change," Satoru Takada, an analyst at TIW, a Tokyo-based research and consulting institute, said ahead of the earnings release.

"But it displayed a good performance in China and Indonesia while showing steady sales in North America," he said.

While North American vehicle sales declined in the quarter year on year to 481,000 from 510,000, revenue rose slightly to 2.13 trillion yen from 2.06 trillion yen.

Takada added that the foreign exchange situation is "a key factor" for automakers.

"Current levels are relatively positive for the Japanese auto industry," he said.

Although the yen has strengthened slightly in past days, it remains weak against the dollar over recent years.

A stronger Japanese yen can hurt carmakers by eroding the value of overseas profits when repatriated.

Vnexpress

See also

Vietnamese, Bulgarian news agencies ink cooperation pact

Vietnamese, Bulgarian news agencies ink cooperation pact

SOFIA – The Vietnam News Agency (VNA) and Bulgarian News Agency (BTA) have freshly sealed a cooperation pact on professional exchanges during VNA Deputy Director General Đoàn Thị Tuyết Nhung’s working trip to Bulgaria from June 1-5.
Hanoi: Agricultural development policies lack real-world effectiveness

Hanoi: Agricultural development policies lack real-world effectiveness

(VEN) - Hanoi's agricultural policy implementation has been sluggish, yielding limited results that fail to align with the city's potential and strengths.
New Zealand provides 40 full micro-credentials scholarships for Vietnamese learners

New Zealand provides 40 full micro-credentials scholarships for Vietnamese learners

Following the success of the Micro-credentials Scholarship program in 2022, Education New Zealand (ENZ) announced 40 full scholarships exclusively for Vietnamese learners in 2023, with a total value of more than half a billion dong.
Mong Cai city imports electricity from China’s Dongxing

Mong Cai city imports electricity from China’s Dongxing

The Mong Cai (Vietnam) - Dongxing (China) 110kV transmission line was completed and put into operation at 6 am on May 22, adding power supply to Mong Cai city in the northeastern province of Quang Ninh, according to the Mong Cai City Electricity.
Seminar discusses orientations for rapid and sustainable national development

Seminar discusses orientations for rapid and sustainable national development

Participants at a seminar in Hanoi on May 16 discussed three pillars of the nation’s rapid and sustainable development.
M&A to pick up in property market

M&A to pick up in property market

HÀ NỘI — Domestic property developers are looking to sell assets and shares to deal with debts, restructure, maintain cash flow and keep operations going, according to industry experts.

See more news

Vietnam seeks ways to ease global minimum tax effects

Vietnam seeks ways to ease global minimum tax effects

(VEN) - A global minimum tax is unavoidable, but Vietnam needs coping strategies to minimize its negative effects and retain its attractive investment environment.
Caged fish farming in hydro-power reservoirs helps people earn stable incomes

Caged fish farming in hydro-power reservoirs helps people earn stable incomes

Many households in Thanh Hóa Province’s mountainous districts have successfully developed caged fish farming on hydroelectric reservoirs.
Investment of $304.3 million proposed to upgrade Mekong Delta roads

Investment of $304.3 million proposed to upgrade Mekong Delta roads

The Ministry of Transport has proposed projects to upgrade and improve three national highways, 53, 62 and 91B, in Cửu Long (Mekong Delta) provinces.
Government helps HCMC overcome obstacles

Government helps HCMC overcome obstacles

(VEN) - Prime Minister Pham Minh Chinh met on April 16 with heads of the Ho Chi Minh City (HCMC) Party Committee to discuss the obstacles to local socioeconomic development. The Minister of Industry and Trade proposed focusing on e-commerce and the night-time economy to drive the city’s further growth.
Hung Yen creates momentum to improve investment environment

Hung Yen creates momentum to improve investment environment

The northern province of Hung Yen has taken drastic actions to improve its business and investment environment, and its efforts have paid off.
HCM City unlocks resources for development

HCM City unlocks resources for development

The year 2023 is considered a pivotal year to drive growth of Ho Chi Minh City for upcoming years under its economic recovery and development strategy for 2022-2025, after achieving impressive recovery last year.
Hanoi GRDP up 5.8 percent in Q1

Hanoi GRDP up 5.8 percent in Q1

(VEN) - Hanoi's Gross Regional Domestic Product (GRDP) rose by 5.8 percent in the first quarter of 2023 compared to the same period in 2022. While this growth rate is lower than the 5.91 percent achieved the same period of in 2021, it is nevertheless impressive given the global economic downturn and decline in global trade.
Việt Nam makes efforts to crack down on IUU fishing

Việt Nam makes efforts to crack down on IUU fishing

After three inspections, the European Commission (EC) said Việt Nam has made improvements in the process of removing illegal, unreported, and unregulated (IUU) fishing.
Industrial parks reach 80 percent occupancy

Industrial parks reach 80 percent occupancy

(VEN) - There are currently over 290 industrial parks (IPs) in the country that have been put into operation. So far, the occupancy rate of the IPs nationwide has reached about 80 percent.
President Ho Chi Minh Mausoleum welcomes over 52,000 visitors during three holiday days

President Ho Chi Minh Mausoleum welcomes over 52,000 visitors during three holiday days

Around 52,250 visitors, including 2,900 foreigners, came to pay tribute to President Ho Chi Minh, the great leader of Vietnam, at his mausoleum in Hanoi during three holiday days from April 29 to May 1.
View more
Latest Most Read
Nine Vietnamese universities listed in THE Impact Rankings 2023

Nine Vietnamese universities listed in THE Impact Rankings 2023

Nine Vietnamese universities have been listed in the THE Impact Rankings 2023 released by the Times Higher Education (THE).
Vietnamese authorities move to facilitate farm produce exports to China

Vietnamese authorities move to facilitate farm produce exports to China

A Vietnamese delegation led by Deputy Minister of Agriculture and Rural Development Tran Thanh Nam has visited and held meetings with the administrations and customs departments of China’s Guangxi and Yunnan provinces in an effort to facilitate farm produce exports via northern border gates of Vietnam.
Ambassador calls for more investment from Japan’s Tochigi prefecture

Ambassador calls for more investment from Japan’s Tochigi prefecture

An investment promotion seminar was held in Tochigi prefecture of Japan on June 5 under the chair of Vietnamese Ambassador to Japan Pham Quang Hieu and Tochigi Deputy Governor Suenaga Hiroyuki.
Vietnam, China exchange market management experience

Vietnam, China exchange market management experience

Deputy Minister of Industry and Trade Dang Hoang An held talks with deputy head of the Chinese State Administration for Market Supervision (SAMR) Pu Chun in Hanoi on June 5, during which they exchanged information and experience regarding market management.
Vietnam promotes green, circular economy

Vietnam promotes green, circular economy

(VEN) - The results of a survey conducted by the Central Institute for Economic Management show that from 36 to 48.6 percent of Vietnamese companies have applied circular business models.
nine vietnamese universities listed in the impact rankings 2023

Nine Vietnamese universities listed in THE Impact Rankings 2023

Nine Vietnamese universities have been listed in the THE Impact Rankings 2023 released by the Times Higher Education (THE).
sunset town a journey to love on vietnams phu quoc island

Sunset Town – A journey to love on Vietnam's Phu Quoc Island

Looking for a dreamy vacation spot this summer? Located on the southern side of Phu Quoc Island in Vietnam, Sunset Town is an enchanting coastal town that has been capturing the hearts of global travelers.
childrens artwork displayed at hcm city exhibition

Children's artwork displayed at HCM City exhibition

The exhibition is the result of the art contest We In Me 2023 launched by the Vietnam Contemporary Visual Arts Academy (VCVAA) – an institution founded by international artist and educator Thanh Bùi to nurture young Vietnamese artistic talents.
a memorable summer with fireworks and fun festivals in da nang

A memorable summer with fireworks and fun festivals in Đà Nẵng

The vibrant summer days in the coastal city of Đà Nẵng will begin with the return of DIFF 2023.
top models to compete in national modeling reality tv show

Top models to compete in national modeling reality TV show

Around 20 male and female models will compete for the title of the modeling-themed reality TV series Face Vietnam 2023.
Viet Nam-Laos agreement on mutual judicial assistance in civil matters ratified

Viet Nam-Laos agreement on mutual judicial assistance in civil matters ratified

President Vo Van Thuong has signed a decision approving the Viet Nam-Laos agreement on mutual judicial assistance in civil matters.
PM issues directive to enhance data sharing for e-commerce development

PM issues directive to enhance data sharing for e-commerce development

Prime Minister Pham Minh Chinh on May 31 signed Directive No. 18/CT-TTg on promoting data connection and sharing for e-commerce development, preventing tax loss, and ensuring monetary security.
Deputy PM urges acceleration of electricity licensing for finished wind, solar power projects

Deputy PM urges acceleration of electricity licensing for finished wind, solar power projects

Deputy Prime Minister Tran Hong Ha has requested the Ministry of Industry and Trade to accelerate the process of issuing electricity licenses for wind and solar power projects that have been completed but have not yet been put into operation.
Specific mechanisms, policies needed to drive HCM City’s growth

Specific mechanisms, policies needed to drive HCM City’s growth

Ho Chi Minh City needs to be supported by specific mechanisms and policies that are strong enough to remove bottlenecks faced by the city and enable it to create breakthrough developments, experts said.
More assistance for supporting industry

More assistance for supporting industry

(VEN) - According to economic experts, the development of the supporting industry needs the Government’s support through a set of cohesive and stable policies that facilitate sustainable business growth.
Cement industry suffers financial losses during Q1

Cement industry suffers financial losses during Q1

Decreased demand and increased costs have put cement makers in a difficult spot financially during the first quarter of 2023, said industry insiders and experts.
Việt Nam has major opportunities to engage in global Halal industry Deputy minister

Việt Nam has major opportunities to engage in global Halal industry Deputy minister

Deputy Minister of Foreign Affairs Phạm Quang Hiệu speaks to the media about strengthening international cooperation to develop the Halal industry in Việt Nam.
Cut on automobile registration fees to facilitate auto industry

Cut on automobile registration fees to facilitate auto industry

The Ministry of Industry and Trade supporting the reduction of automobile registration fees is considered a positive effect to the auto industry in the context of the automobile market facing many difficulties.
Ambassador calls for more investment from Japan’s Tochigi prefecture

Ambassador calls for more investment from Japan’s Tochigi prefecture

An investment promotion seminar was held in Tochigi prefecture of Japan on June 5 under the chair of Vietnamese Ambassador to Japan Pham Quang Hieu and Tochigi Deputy Governor Suenaga Hiroyuki.
Vietnam – attractive destination for Italian firms: forum

Vietnam – attractive destination for Italian firms: forum

Raffaele Cattaneo, deputy minister in charge of international relations of Italy’s Lombardia region, called Vietnam a “diamond” of Asia and an attractive destination for Lombardia enterprises while speaking at a recent business and investment forum in Milan.
FDI enterprises urge investment environment improvement

FDI enterprises urge investment environment improvement

(VEN) - At an April-22 in-person meeting between Prime Minister Pham Minh Chinh and foreign investors, business and association representatives suggested that Vietnam further improve its investment environment.
Vietnam

Vietnam's five-month FDI rises sharply nationwide

The total inflows of foreign investment in Vietnam this year to May 20, including new and added investment and contributions for share purchases by foreign investors, reached nearly 10.86 billion USD, down 7.3% year-on-year, but up 10.6 percentage points as compared with the figure in the first four months of this year, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment reported.
SBV Governor explains high lending rates, credit room management

SBV Governor explains high lending rates, credit room management

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong provided explanations regarding the high lending rates and credit room management during a plenary session of the 15th National Assembly’s ongoing fifth meeting in Hanoi on June 1.
Important: Multi-target monetary policies needed

Important: Multi-target monetary policies needed

(VEN) - According to Deputy Governor of the State Bank of Vietnam (SBV) Pham Thanh Ha, the SBV’s monetary policy management has never been as difficult as it is now due to the global economic changes, while the bank must not make any mistakes upon policy issuance and application.
Dozens of commercial banks cut savings interest rates

Dozens of commercial banks cut savings interest rates

Dozens of commercial banks have simultaneously decided to reduce deposit interest rates from May 25, after the State Bank's decision to cut policy interest rates.
Central bank continues to reduce policy interest rates

Central bank continues to reduce policy interest rates

The State Bank of Vietnam (SBV) has announced two decisions to further reduce policy interest rates, which will become effective from May 25, 2023.
HCM City promotes digital transformation in waste management

HCM City promotes digital transformation in waste management

HCM City is making efforts to promote digital transformation in the collection, treatment and management of the huge volume of domestic solid waste discharged daily.
PM urges stronger wildfire prevention measures amid strong heatwaves

PM urges stronger wildfire prevention measures amid strong heatwaves

Prime Minister Phạm Minh Chính has urged stepping up wildfire prevention measures as heatwaves are scorching many localities nationwide, increasing the risk of wildfires.
Vietnam targets development of green, plastic waste-free tourism

Vietnam targets development of green, plastic waste-free tourism

Vietnam is considered one of the largest contributors to marine plastic pollution globally, with the volume of plastic waste discharged into the sea ranging from 0.28 to 0.73 million tonnes a year, of which a big part comes from tourism activities.
Đồng Nai afforestation programme kicks off

Đồng Nai afforestation programme kicks off

NGO Gaia Nature Conservation Center on Monday kicked off its annual afforestation programme at the Đồng Nai Culture and Nature Reserve to mark International Day for Biological Diversity.
Police warn against illegal forex trading platforms

Police warn against illegal forex trading platforms

Hanoi police have warned people against illegal foreign exchange trading platforms on the internet which have swindled many out of their money.
Over 77,000 computers in Vietnam suffer data encryption in 7 months Bkav

Over 77,000 computers in Vietnam suffer data encryption in 7 months Bkav

More than 77,000 computers in Vietnam have suffered data encryption since December 2022, according to Bkav – a leading Vietnamese technology corporation that specialises in cyber security and software.
Vigorous changes in science and technology

Vigorous changes in science and technology

(VEN) - In the context of deepening international integration, the industry and trade sector has undergone positive changes in scientific research and technology development.
Internet speeds up as four of five undersea cables repaired

Internet speeds up as four of five undersea cables repaired

Four out of the five international undersea cables that were damaged last year and early this year have been repaired, the Department of Telecommunications under the Ministry of Information and Communications announced on June 1.
Vietnamese, Bulgarian news agencies ink cooperation pact

Vietnamese, Bulgarian news agencies ink cooperation pact

SOFIA – The Vietnam News Agency (VNA) and Bulgarian News Agency (BTA) have freshly sealed a cooperation pact on professional exchanges during VNA Deputy Director General Đoàn Thị Tuyết Nhung’s working trip to Bulgaria from June 1-5.
Hanoi: Agricultural development policies lack real-world effectiveness

Hanoi: Agricultural development policies lack real-world effectiveness

(VEN) - Hanoi's agricultural policy implementation has been sluggish, yielding limited results that fail to align with the city's potential and strengths.
New Zealand provides 40 full micro-credentials scholarships for Vietnamese learners

New Zealand provides 40 full micro-credentials scholarships for Vietnamese learners

Following the success of the Micro-credentials Scholarship program in 2022, Education New Zealand (ENZ) announced 40 full scholarships exclusively for Vietnamese learners in 2023, with a total value of more than half a billion dong.
Mong Cai city imports electricity from China’s Dongxing

Mong Cai city imports electricity from China’s Dongxing

The Mong Cai (Vietnam) - Dongxing (China) 110kV transmission line was completed and put into operation at 6 am on May 22, adding power supply to Mong Cai city in the northeastern province of Quang Ninh, according to the Mong Cai City Electricity.
•	Tripadvisor highlights the sole hotel in Da Nang in the prestigious Travelers

• Tripadvisor highlights the sole hotel in Da Nang in the prestigious Travelers' Choice Best of the Best award

Millions of travelers from around the world have voted Premier Village Danang Resort - a masterpiece by Sun Group on the shores of the East Sea - as one of the top 10 family-friendly hotels in Asia 2023 on Tripadvisor.
Pfizer Vietnam, VNVC sign MoU to protect public health

Pfizer Vietnam, VNVC sign MoU to protect public health

Pfizer (Vietnam) Limited Company and Vietnam Vaccine Joint Stock Company (VNVC) on Wednesday (May 24) signed a memorandum of understanding (MoU) to partner on protecting public health by increasing the rate of proactive prevention of dangerous infections in the period of 2023-25.
Vietjet offers 50% discount on SkyBoss Business tickets

Vietjet offers 50% discount on SkyBoss Business tickets

These discounted tickets (excluding taxes and fees) are available at www.vietjetair.com and Vietjet Air mobile app from now until June 30, 2023.
Positioning Vietnam’s Green National Brand

Positioning Vietnam’s Green National Brand

(VEN) - The panel discussion of “Positioning Vietnam’s Green National Brand” held in the framework of the Vietnam National Brand Week and the Vietnam Branding Forum 2023 drew a lot of discussion among speakers.
Children

Children's artwork displayed at HCM City exhibition

The exhibition is the result of the art contest We In Me 2023 launched by the Vietnam Contemporary Visual Arts Academy (VCVAA) – an institution founded by international artist and educator Thanh Bùi to nurture young Vietnamese artistic talents.
Top models to compete in national modeling reality TV show

Top models to compete in national modeling reality TV show

Around 20 male and female models will compete for the title of the modeling-themed reality TV series Face Vietnam 2023.
International festival provides platform to young musicians

International festival provides platform to young musicians

Monsoon' festival, one of the most anticipated music events in Việt Nam, will be held in Hà Nội from October 14 to 22. The festival founder and director, Quốc Trung, discusses the festival's return after a three-year hiatus.
Bát Tràng ancient pottery exhibited at Việt Nam National Museum of History

Bát Tràng ancient pottery exhibited at Việt Nam National Museum of History

A unique collection of Bát Tràng pottery artefacts dating from the 14th to the 20th century are being introduced to the public at the Việt Nam National Museum of History.
Vice-Chairman of Da Nang City People

Vice-Chairman of Da Nang City People's Committee “DIFF is a push to fuel tourism”

“After three years, the Da Nang International Fireworks Festival - DIFF has just come back. This is a great effort of our city. Moreover, the support of businesses also plays an important role in helping Da Nang to implement DIFF 2023,” shared Ms. Ngo Thi Kim Yen, Vice-Chairman of Da Nang City People’s Committee about DIFF 2023.
Sunset Town – A journey to love on Vietnam

Sunset Town – A journey to love on Vietnam's Phu Quoc Island

Looking for a dreamy vacation spot this summer? Located on the southern side of Phu Quoc Island in Vietnam, Sunset Town is an enchanting coastal town that has been capturing the hearts of global travelers.
Experience healing with world-renowned practitioners at Four Seasons Resort The Nam Hai, Hoi An

Experience healing with world-renowned practitioners at Four Seasons Resort The Nam Hai, Hoi An

Following its ethos of nurturing mind, body and spirit, Four Seasons Resort The Nam Hai, Hoi An continues to bring visitors more enriching experiences to return to this peaceful oasis this summer.
A memorable summer with fireworks and fun festivals in Đà Nẵng

A memorable summer with fireworks and fun festivals in Đà Nẵng

The vibrant summer days in the coastal city of Đà Nẵng will begin with the return of DIFF 2023.
Mobile Version