Honda raises profit forecast, sticks to Wuhan plant closure schedule

Honda Motor Co raised its forecast for full-year operating profit by 6per cent on Friday, with a weaker yen increasing the value of its overseas sales.

Japan's third-biggest automaker has been struggling to shore up its automobile operations, with profitability down more than half in the past two years due to a series of quality-related issues.And like other global automakers, Honda too has been impacted by the coronavirus outbreak on vehicle production in China.

Honda parts supplier F-Tech is moving production of brake pedals from Wuhan to the Philippines temporarily, Nikkei reported last month.AdvertisementHonda raised its operating income forecast to 730 billion yen for the year to March 31 from a previous estimate of 690 billion yen. A weaker currency buoys profits because exports become less expensive and the value of overseas earnings increases.

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