Honda Raised Operating Profit Forecast to ¥650 Billion Ahead of November Results
Key Facts
Information available through October 26 does not support claims in an earlier draft that Honda Motor cut its annual forecast or reported quarterly results below expectations. The latest official revision available was in August, when the company raised its operating profit forecast for the fiscal year ending March 31, 2027, to ¥650 billion from ¥500 billion. Its investor relations page lists November 10, 2026, as the date for reporting results for the quarter ended September 30. Those quarterly results had therefore not been reported as of the date covered by this story. The available record also does not establish that Honda attributed any new cut to tariffs or currency fluctuations.
The August forecast increase was accompanied by a revision to the company’s assumed yen-dollar exchange rate for the same fiscal year. Honda raised its assumed average rate to 155 yen per dollar from 145 yen, according to its filing with the U.S. Securities and Exchange Commission. This change places the currency assumption in the context of the August forecast, but does not provide evidence of a later revision in October. The available information contains no newer announcement linking tariffs to a cut in the profit forecast. Tariffs or currency therefore cannot be presented as the cause of a cut that has not been established.
Honda posted operating profit of ¥530.8 billion in the April-June 2026 quarter, compared with ¥244.2 billion in the same period a year earlier. The figure exceeded the average analyst estimate of ¥302.1 billion, according to Reuters. The results, published in August, were part of the backdrop to the subsequent increase in the annual operating profit forecast to ¥650 billion. Quarterly profit also more than doubled year on year, Reuters reported. This comparison does not concern the quarter ended in September, for which the company scheduled results for November.
Honda data showed global production fell to 233,388 vehicles in August, equivalent to 87.4% of August 2025 production, the company said. It was the seventh consecutive month of year-on-year declines in global production. The indicator provides context on production over the summer, but on its own does not establish an effect on profits or a change in the fiscal-year forecast. In the market, HMC shares closed at $34.15 on October 23, 2026, according to EL7 data. No data is available here to establish the stock’s intraday trading range in that session.
Attention now turns to November 10, 2026, when Honda is due to report results for the quarter ended September 30, according to its investor relations page. The announcement will be the next milestone for assessing quarterly performance after the April-June results and the annual forecast increase in August. Until the results are released, available information does not support the claim that the company cut its annual profit forecast in October. It also does not confirm that the latest quarter’s results came in below analyst estimates. The annual figure published in August remains an operating profit forecast of ¥650 billion for the fiscal year ending March 31, 2027.