TOKYO, Japan — Japanese auto giant Honda on Friday logged a record annual profit thanks to improving global veh icle sales, but issued a cautious outlook for the current fiscal year.
The company said net profit for the year to March soared 70 percent to 1.1 trillion yen ($7.1 billion) on sales of 20.4 trillion yen, up 20.8 percent from the previous year.
Honda has made big outlays as it aggressively pursues a target set three years ago of achieving 100 percent electric vehicle sales by 2040.
Its 2023-24 re sults come two weeks after it announced the largest automotive investment in Canada’s history for a new US$11 billion EV battery and vehicle assembly plant.
The company already has a partnership in electric vehicles with Sony, and is exploring collaborat ion with arch-rival Nissan as they face a “once-in-a-century” upheaval in the car industry — a move analysts say is aimed at catching up with Chinese EV competitors.
On Friday, Hond a said global vehicle sales were up, thanks largely to its vehicles’ popularity in the United States.
Sales volume was down in China, however, while its motorcycle division’s robust sales in India and Brazil offset falls in Vietnam.
Price increases and the weak yen boosted profits overall, Honda said.
For the year to March 2025, the company expects net profit to fall 9.7 percent to 1.0 trillion yen on sales of 20.3 trillion yen, down 0.6 percent.
Rising costs and changes to forex rates may put pressure on company results going forward, it said.
Vehicle sales in the United States and the Japanese markets are expected to grow, Honda said, but it predicted sales in the rest of Asia would ease.
Nissan on Thursday said it had nearly doubled its 2023-24 net profit, weathering challenges in the Chinese market, but forecast a dip of around 10 percent for 2024-25.
Toyota, the world’s top-selling automaker, also posted a record annual net profit this week.
PATIS, France — Here are the 22 films competing for the Palme d’Or, the top prize at the Cannes Film Festival on May 14-25, and some of the films showing out of competition.
‘Megalopolis’ (Francis Ford Coppola)
This self-funded epic — a Roman drama transplanted to modern-day New York starring Adam Driver — has been in the works for more than 40 years. Coppola has twice won the Palme d’Or — for “The Conversation” (1974) and “Apocalypse Now” (1979).
‘The Apprentice’ (Ali Abbasi)
A biopic about Donald Trump’s formative years from an award-winning Iranian director is bound to grab attention. It stars Sebastian Stan, best-known as the Winter Soldier in Marvel films and rocker Tommy Lee in series “Pam and Tommy”, alongside Jeremy Strong of “Succession” fame as Trump’s lawyer.
‘Kinds of Kindness’ (Yorgos Lanthimos)
Three short stories in one, this is the latest team-up between the Greek director and Emma Stone, just weeks after she won an Oscar for “Poor Things”, also starring Willem Defoe and Margaret Qualley.
‘The Shrouds’ (David Cronenberg)
The horror maestro’s latest supernatural drama is about a man who builds a device to connect with his dead wife — a deeply personal project for the Canadian director who lost his wife in 2017. It stars Vincent Cassel and Diane Kruger.
‘Oh, Canada’ (Paul Schrader)
The iconic writer-director has been on a roll lately with a string of dramas about obsessive and dangerous men. He reunites with his “American Gigolo” star Richard Gere for the story of a dying man reflecting on his past mistakes.
‘Emilia Perez’ (Jacques Audiard)
Quite the synopsis — a musical about a Mexican cartel boss undergoing a sex change to escape the authorities, with pop superstar Selena Gomez in a supporting role. The unpredictable French director has tried many genres, from “The Prophet” and “Rust and Bone” to his Palme d’Or-winning “Dheepan”.
‘The Substance’ (Coralie Fargeat)
An unlikely comeback vehicle for Demi Moore — an ultra-violent horror film from the French director of 2017’s “Revenge” that will “leave a lot of blood on the screen”, according to festival director Thierry Fremaux.
‘The Most Precious of Cargoes’ (Michel Hazanavicius)
The first animation in competition since 2008’s “Waltz With Bashir” is the tale of a twin thrown to safety from a death train transporting his Jewish parents to Auschwitz, from the director of the Oscar-winning “The Artist”.
‘Limonov’ (Kirill Serebrennikov)
The exiled Russian director tackles the bizarre true life of dissident poet Eduard Limonov, who fled the Soviet Union but returned to found a new Bolshevik Party after the Cold War.
‘Parthenope’ (Paolo Sorrentino)
Another love letter to his native Naples from the Oscar-winning director of “The Great Beauty” and Netflix series “The Young Pope”.
‘Bird’ (Andrea Arnold)
The celebrated British auteur returns with a coming-of-age tale set in an English suburb, starring Barry Keoghan (“Saltburn”). Arnold won an Oscar for short film “Wasp” and made acclaimed features “Red Road” and “Fish Tank”.
‘The Seed of the Sacred Fig’ (Mohammad Rasoulof)
Imprisoned for criticising Iran’s government and barred from leaving the country, Rasoulof has already faced pressure to pull his latest film from the Cannes line-up. Its plot remains under wraps.
‘Anora’ (Sean Baker)
A darling of the US indie scene for his portraits of marginalised characters in “The Florida Project” and “Red Rocket”, Baker returns with a “romantic adventure” starring “Scream” actress Mikey Madison.
‘The Girl with the Needle’ (Magnus von Horn)
Loosely based on the story of a Danish serial killer who helped poor women kill their unwanted children in the early 20th century.
‘Motel Destino’ (Karim Ainouz)
An erotic comedy-thriller from the Brazilian director of Henry VIII drama “Firebrand”, which competed in Cannes last year.
‘Grand Tour’ (Miguel Gomes)
The story of a British colonial officer in Burma who flees his wedding but is pursued by his bride.
‘Marcello Mio’ (Christophe Honore)
The fictional tale of a woman who starts impersonating her father, the late Italian screen icon Marcello Mastroianni. It features French icon Catherine Deneuve.
‘Caught by the Tides’ (Jia Zhang-Ke)
One of China’s most celebrated auteurs offers a view of the country “we are not necessarily used to seeing”, according to Fremaux.
‘All We Imagine As Light’ (Payal Kapadia)
The first Indian entry in 30 years tells the intimate stories of a Mumbai nurse and her roommate.
‘Beating Hearts (Gilles Lellouche)
The French actor-director adapts an Irish novel, “Jackie Loves Johnser OK?”, with Francois Civil and Adele Exarchopoulos.
‘Wild Diamond’ (Agathe Riedinger)
A debut film about a young French girl seeking fame on reality TV.
‘Three Kilometres to the End of the World’ (Emanuel Parvu)
A surprise last-minute entry about a gay teenager ostracised by his village community in Romania.
Here is a selection of the films playing in the ‘Out of Competition’ and ‘Special Screenings’ sections of the festival.
‘Furiosa: A Mad Max Saga’ (George Miller)
‘Horizon, An American Saga’ (Kevin Costner)
‘Lula’ (Oliver Stone)
‘She’s Got No Name’ (Peter Ho-Sun)
‘The Count of Monte Cristo’ (Alexandre de la Patelliere and Matthieu Delaporte)
‘Rumours’ (Evan Johnson, Galen Johnson and Guy Maddin)
‘Ernest Cole, Lost and Found’ (Raoul Peck)
‘The Invasion’ (Sergei Loznitsa)