TOKYO, May 14 (Xinhua) — Japan’s Honda Motor Co. reported Thursday a net loss of 423.94 billion yen (around 2.7 billion U.S. dollars) for fiscal 2025, marking its first annual net loss since the automaker went public in 1957.
The sharp reversal from a net profit of 835.84 billion yen a year earlier was largely due to losses stemming from a revamp of its electric vehicle (EV) business and related investments. Honda said total EV-related losses for the fiscal year ended March amounted to 1.45 trillion yen.
Japan’s second-largest automaker by volume also swung to an operating loss of 414.35 billion yen, compared with an operating profit of 1.21 trillion yen the year before. Revenue edged up 0.5 percent to 21.8 trillion yen in the year ended March.
For the current business year through March 2027, Honda forecasts a net profit of 260 billion yen and an operating profit of 500 billion yen, while expecting sales to grow 6.2 percent to 23.15 trillion yen.
