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Asia

Honda reverses into quarterly profit on lower recall costs

Associated Press
Published | Updated
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    Visitors walk through a showroom of the Honda Motor Co. headquarters in Tokyo, Friday, April 28, 2017. 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. (AP Photo/Koji Sasahara) (The Associated Press)

  • 72a8b936-
    Image 2 of 3

    A man walks past a Honda car on display at Honda Motor Co. headquarters in Tokyo, Friday, April 28, 2017. 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. (AP Photo/Koji Sasahara) (The Associated Press)

  • ff6a35d3-
    Image 3 of 3

    A man walks past Honda cars on display at Honda Motor Co. headquarters in Tokyo, Friday, April 28, 2017. 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. (AP Photo/Koji Sasahara) (The Associated Press)

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.