Honda reports fiscal quarterly loss, to streamline models
TOKYO (AP) - Honda reported a loss for January-March Wednesday, despite growing sales, as an unfavorable exchange rate, income tax expenses and other costs hurt results.
Honda Motor Co. reported a 13 billion yen ($118 million) loss for the fiscal fourth quarter, a reversal from a 107.7 billion yen profit the previous fiscal year.
Quarterly sales rose 3% to 4.05 trillion yen ($37 billion).
For the fiscal year through March, Honda recorded a 610.3 billion yen ($5.5 billion) profi...