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Honda shares rise over 7% as investors shrug off first operating loss in nearly 70 years
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- Shares of Honda Motor rose over 7% on Friday, even after the Japanese automaker posted its first annual operating loss in nearly 70 years.
- Honda swung to an operating loss of 414.3 billion yen ($2.61 billion) for the fiscal year ending March, compared to an operating profit of 1.2 trillion yen the year prior.
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Shares of Honda Motor rose over 7% on Friday, even after the Japanese automaker posted its first annual operating loss in nearly 70 years.
Honda swung to an operating loss of 414.3 billion yen ($2.61 billion) for the fiscal year ending March, compared to an operating profit of 1.2 trillion yen the year prior. Provisions made for its ailing electric vehicle business and related investments, competition from its Chinese rivals, as well as a U.S. tariff impact of 346.9 billion yen weighed on its earnings.
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