- Image 1 of 3
- Image 2 of 3
- Image 3 of 3
TOKYO – Honda Motor Co. is reporting a 95.9 billion yen ($864 million) profit for January-March, a reversal from the 93.4 billion yen loss it racked up a year earlier, as the Japanese automaker recovers from costs for a massive air-bag recall.
Honda reported Friday that quarterly sales rose 2.9 percent to 3.76 trillion yen ($33.9 billion) from 3.66 trillion yen.
Tokyo-based Honda, which makes the Accord sedan, Odyssey minivan and Asimo robot, said an unfavorable exchange rate and research spending that chipped away at profits were offset by lower recall expenses and cost cuts.
Honda is the biggest customer of Japanese air-bag maker Takata Corp., which is recalling millions of defective air-bags whose inflators can explode with too much force, spewing shrapnel.