Japanese Car Makers Decide Delaying One Year
The Japanese carmaker has decided to delay by one year the date for the entry into operation of the factory currently under construction in the Japanese city of Yuri, today announced the corporation.
Initially, Honda was scheduled to begin operations at the new factory in 2010. However, last December the company decided to defer more than a year the date set due to deterioration of the automotive market.
“As not seen any signs of recovery on the horizon automotive market, Honda has decided to postpone the start of operations for another year,” said the multinational Japan in a statement.
Honda net profit of 323,100 million yen (2.738 billion Euros) in the first nine months of fiscal year 2008-2009 (April 2008 to December 2008), representing the first decline in its net profit in three years and a decrease of 43.8% compared to 2007.
In late January, the company again cut its forecast results for the end of this fiscal year, after reviewing his estimates last December.
Thus, the company expects to record a net profit of 80,000 million yen (677.9 million Euros) at the end of the year, representing a decrease of 56.8% compared to the previous forecast and is divided by 7, 5 net income for the previous year.