Honda’s Profit Drops 41 Percent Due to Thai Floods

Honda Motor Co. says its net profit in the October-December quarter tumbled 41 percent to 47.6 billion yen ($625 million) due to the strong yen and supply chain disruptions from flooding in Thailand.

The Japanese automaker said Tuesday that it forecasts a 215 billion yen net profit for the full year through March, down nearly 60 percent from a year earlier.

Honda scrapped its earnings forecast in October, when it released the last quarterly earnings, because flooding in Thailand made the outlook too uncertain.

Quarterly sales slid 8 percent during the fiscal fourth quarter to 1.942 trillion yen, it said in a statement.