Honda says Q1 net profit dives 95.6% on year

TOKYO: Japan's number two automaker Honda Motor said on Wednesday its net profit dived 95.6 percent in the fiscal first quarter through June from a year earlier to 7.56 bn yen (80 mn dollars).

At the same time it upgraded its outlook for the full financial year to March, forecasting a net profit of 55 bn yen -- down 59.9 percent from the previous year -- against an earlier projection of 40 bn yen.