Honda Motor Co. on Thursday reported consolidated pretax profits of 101.7 billion yen for the first quarter of fiscal 2000, down 15.9 percent from the same period last year.
During the April-June period, consolidated operating profits also dropped 16.5 percent to 104.3 billion yen, and group net profits fell 12.4 percent to 63.8 billion yen.
However, group sales increased 2.2 percent from the same period last year to 1.55 trillion yen.
Sales of passenger cars increased 10.6 percent from the same period last year to 636,000 units, while motorcycle sales jumped 12.1 percent to 1.23 million units.
Company officials attributed the profit decline to the appreciation of yen and the increased costs for operations and research and development.