Honda reports drop in quarterly profit

TOKYO: Honda Motor Co. reported a 41 per cent drop in second fiscal quarter profit on declining sales and a strong yen.

Honda said Tuesday that its July-September profit was 123.3 billion yen ($1.3 billion).

Toyko-based Honda, which has marketed fuel-efficient models like Civic and Accord sedans, has not suffered the deep problems of its US rivals but the results show the company isn't immune to a global slowdown.

The surging yen, which erodes the value of the automaker's overseas earnings, has added to a bleaker outlook for Honda.