Honda Motor Co. said Wednesday it expects its fiscal 2020 net profit to fall 63.8 percent from a year earlier to ¥165 billion ($1.56 billion) due to weak demand for its cars amid the global novel coronavirus pandemic.

While the nation’s second-largest automaker by volume said it booked a net loss of ¥80.87 billion in the first quarter to June, it sees a gradual recovery in global auto and motorcycle demand in the remainder of the current business year through March.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.