Honda Motor Co. said Thursday it posted a net loss of 423.94 billion yen ($2.7 billion) for the year ended March, its first full-year net loss since its 1957 listing, but expects to return to profitability this fiscal year.
The result is a sharp deterioration from the net profit of 835.84 billion yen the previous year, weighed down by losses tied to a revamp of its electric vehicle business.
Japan's second-largest automaker by volume reported an operating loss of 414.35 billion yen in the year ended March 31, 2026, compared with 1.21 trillion yen in profit the year before. Sales edged up 0.5 percent at 21.80 trillion yen.
"Management takes these massive losses very seriously," Honda President and CEO Toshihiro Mibe said at a press conference.
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