- Honda Motor Co Ltd HMC reported first-quarter FY23 sales growth of 6.9% year-on-year to ¥3.8 trillion.
- The operating profit for the year fell 8.6% to ¥222.2 billion.
- Motorcycle business sales revenue increased 30.5% to ¥676 billion, whereas Automobile business sales revenue rose 3.4% to ¥2.3 trillion.
- Profit for the period attributable to owners of the parent fell 32.9% Y/Y to ¥149.2 billion.
- Outlook: Honda sees FY23 sales at ¥16.75 trillion (upward revision of prior forecast by 500 billion yen).
- It expects FY23 operating profit of ¥830 billion (upward revision of prior forecast by 20 billion yen) and FY23 profit attributable to owners of the parent of ¥710 billion (unchanged from the previous view).
- Price Action: HMC shares closed lower by 0.95% at $24.99 on Tuesday.
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