News Summary: Honda's profit up despite China woes

Honda's quarterly profit rises despite China woes, projects annual profit growth amid weak yen

Associated Press

WELL DONE: Honda's fiscal fourth quarter profit rose nearly 6 percent as the Japanese automaker's recovery from floods in Thailand the previous year offset recent sales losses in China.

THE TAPE: Honda posted a quarterly profit of 75.7 billion yen ($765 million), up from 71.5 billion yen the same period the previous year. Quarterly sales jumped 14 percent to 2.74 trillion yen ($27.7 billion).

FROSTING: Also coming as good news for Japanese exporters like Honda is the weakening yen, as it raises the value of overseas earnings and helps lower selling prices abroad. The dollar has been approaching 100 yen levels, up by more than 20 percent from late last year.

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