TOKYO (AP) — Honda's quarterly profit plunged nearly 90 percent after the quake in northeastern Japan hammered production and sales, but the automaker raised full-year forecasts as its confidence in a recovery mounts.
Honda Motor Co. said Monday its April-June profit tumbled to 31.7 billion yen ($406 million) from 272.4 billion yen a year earlier. Japan's No. 3 automaker said it managed to remain in the black thanks to its growing motorcycle business.
Tokyo-based Honda, which makes the Odyssey minivan and Fit subcompact, now expects a 230 billion yen ($2.9 billion) profit for the fiscal year ending March 2012.
That is less than half of Honda's 534 billion yen profit in …
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