Honda's Cost-Cutting Efforts Pay Off in First-Quarter Results
We are not changing our Honda fair value estimate after incorporating its first-quarter fiscal 2019 results into our model. The company posted an 11.2% increase year over year in operating profit (we calculate a 20.7% increase ignoring currency headwinds) to JPY 299.3 billion, resulting from good performance from the motorcycle segment and cost reduction efforts. Foreign exchange took JPY 25.6 billion from operating profit for the quarter with JPY 14 billion of that coming from the dollar agains...Honda Motor is the parent company of a group mainly develop, manufacture and distribute motorcycles, automobiles, power products, and also provide financing for the sale of those products. Principal manufacturing facilities are located in Japan, the United States of America, Canada, Mexico, the United Kingdom, Turkey, China, India, Indonesia, Malaysia, Thailand, Vietnam, Argentina, and Brazil. Co.'s principal business segments are motorcycles, automobiles, financial services, and power products & other business. Co.'s principal automobile products include passenger cars such as "Legend," "Accord," "Inspire," "Civic," "Insight," "City," "Acura RL," "Acura TL," "Acura TSX," and "Acura CSX".
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