Honda gained most in Tokyo trading

Honda gained most in Tokyo trading

Japan's second-largest auto-manufacturer, Honda Motor has gained the most within the period of six months in Tokyo trading.

The shares advanced as company increased its full year profit forecast after growth in sales in Asia.

The shares of Honda have increased by 4.6 percent to 2,834 yen, followed by Japan's third-biggest company in terms of sales, Hitachi Ltd., with increase in share value by 3.7 percent.

The company has raised its net income estimate from 340 billion yen to 455 billion yen or $5.3 billion in the year ending on March 31.

The Tokyo-based company is expecting the sale of 3.64 million vehicles in the fiscal year 2010, in contrast with earlier estimate of 3.615 million.

The automaker has raised its sale target due to improved sale volume in Asia.

Even though there has been 2.4 percent fall in sales due to stoppage in production caused by strikes, the first-quarter output of Honda increased by 4.3 percent to 149,109 units in China.

The world's biggest motorcycle manufacturer, Honda, has also increased the sales forecast of its two-wheeler vehicles from 10.38 million to 10.82 million.


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