TOKYO: Honda Motor Co. on Friday reported record consolidated revenue and profits for the year ended March thanks to strong sales of hybrid vehicles in North America, a weak yen and increased chip supply.

Operating profit leaped 77 pct from a year earlier to 1,381.9 billion yen, and net profit jumped 70 pct to 1,107.1 billion yen. Revenue went up 20.8 pct to 20,428.8 billion yen.

Motorcycle sales grew in areas such as India and Brazil.

For the current year, revenue is forecast to dip 0.6 pct to 20.3 trillion yen and net profit is projected to fall 9.7 pct to 1 trillion yen.

The downbeat outlook comes as the Japanese automaker assumes a stronger yen. The company expects growing sales of vehicles and motorcycles.

Honda expects to announce details of a proposed tie-up with Nissan Motor Co. before long, President and CEO Toshihiro Mibe said in a virtual press briefing.

JIJI Press