Honda Q1 Net Income Declines; Sales Revenue Up 6.9%

Honda (HMC) reported first-quarter profit to owners of the parent of 149.2 billion yen, a year-on-year decrease of 32.9%. Earnings per share was 87.23 yen compared to 128.87 yen. The company said the decline was due primarily to a decrease in the share of profit of investments accounted for using the equity method in China. Operating profit was 222.2 billion yen, a year-on-year decrease of 8.6%.