TOKYO (AP) — 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.
Honda Motor Co. reported Friday 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).
Also coming as good news for Japanese exporters like Honda is the weak yen.
For the fiscal year ended March 31, the maker of the Odyssey minivan, Acura sedan and Asimo robot reported a 367 billion yen ($3.7 billion) profit, up a solid 73.6 percent on year.
It's expecting to do even better this fiscal year through March 2014, with a 580 billion yen ($5.8 billion) profit.
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