Honda Japan's nine-month net profit plummets 71 percent

Tokyo, Jan 31 (IANS) Japan's Honda Motor Co. said Tuesday its net profit from April to December plunged 71.4 percent from the previous year to about 139.89 billion yen ($1.84 billion).

The automaker expects its annual group net profit ending this March to fall 59.7 percent, due to the twin disasters in March last year, the flooding in Thailand and the stronger yen, reported Xinhua.

Sales for the nine-month period declined 17.6 percent to 5.54 trillion yen, and its operating profit contracted 77.2 percent to 119.39 billion yen.

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