In a major blow to Japan's prestigious automotive industry, five leading Japanese automakers — Toyota (TM) , Honda (HMC) , Mazda (MZDAY) , Suzuki, and Yamaha — have been accused of falsifying vehicle safety test data. The scandal bears an eerie resemblance to the 2015 Volkswagen (VWAGY) Dieselgate debacle. The Ministry of Land, Infrastructure, Transport and Tourism of Japan uncovered that Toyota, Honda, Mazda, Suzuki and Yamaha engaged in fraudulent activities during the certification process of certain veh ...

In this article GM Josh Lefkowitz | Getty Images News | Getty Images This spring, there has been a flurry of announcements from the Japanese company, including an $11 billion investment in a Canadian EV hub — the company calls it a "comprehensive EV value chain" — and an EV transformation of Ohio operations. "Each manufacturer has their reasons for their direction," said Bob Nelson, executive vice president of American Honda Motor Co. "The $700 million investment gives us the flexibility to produce ICE [int ...

Today, we focus on the Harvard Management Company ("HMC") and discuss three Harvard endowment stocks. HMC manages Harvard University's substantial endowment fund, valued at well over $50 billion for fiscal year 2023. As a result, many on Wall Street pay attention to the investment decisions made by the fund. HMC's latest SEC filings reveal a concentrated portfolio of twelve securities. The company's leading holdings include Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG), Meta Platforms (NASDAQ:META), Invesco QQQ Tru ...

We're approaching the end of first quarter earnings season with 92% of companies listed in the benchmark S&P 500 index reporting results. By and large, it has been a strong period. In all, 78% of companies announced better-than-expected profits, and according to FactSet, 59% beat expectations with their sales. Many analysts are crediting the strong corporate earnings with reversing the stock market decline seen in April. While many companies came in ahead of Wall Street forecasts, a few delivered truly exce ...

With the company flush with profits, it plans to buy back 3.7% of its shares, spending 300 billion yen ($1.92 billion) in the process, the most it's ever doled out on share repurchases. It's always a good sign when an auto company buys back stock, generally meaning that its shares are so cheap it can't say no to buying its shares. In the case of Honda, its shares have gained just 30% over the past five years despite generating significant profits. Here are three other auto stocks buying back stock to expres ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: General Motors and Chrysler went bankrupt, dozens of plants were shuttered, and tens of thousands of well-paying auto jobs were lost along Ontario's automotive-producing zone from Windsor to Oshawa. Ontario's auto sector, once the wellspring of the province's prosperity, looked to be in the process of an inevitable decline. It wa ...

KEY TAKEAWAYS Japan's carmakers have long produced hybrid vehicles but are increasingly amping up their EV production, even as companies are scaling back their EV expansion plans amid soaring costs and slowing demand. Chinese EV firms have also been launching cheaper models and dominating their domestic market. Honda 'Confident That the EV Shift Will Continue to Proceed Steadily' Honda and domestic rival Nissan said they were exploring an EV partnership in March. Honda said Thursday that it believes that EV ...

Layoffs and Restructuring - Honda is implementing voluntary layoffs at its joint venture GAC Honda Automobile, affecting 1,400 employees or 14% of the workforce [1] - The layoffs are part of a cost-cutting strategy to facilitate continued operations in China [3] Market Challenges - Honda faces increasing competition and declining sales in China, with 2024 vehicle sales expected to drop by 13% to 1.06 million units [2] - Japanese automotive brands, including Honda, are struggling to compete with the rising popularity of Chinese domestic automobile companies [2] Strategic Shift - Honda plans to focus more on producing electric vehicles (EVs) in China, aligning with the growing popularity of EVs in the market [3] - The company is not exiting the Chinese market but is restructuring to adapt to the competitive landscape [3] Stock Performance - Honda's stock (HMC) saw a 1% increase on Wednesday morning following the announcement of layoffs and strategic changes [3]

Honda (HMC) reported earnings of 99 cents per share for fourth-quarter fiscal 2024, surpassing the Zacks Consensus Estimate of 44 cents. The bottom line also grew from the year-ago profit of 51 cents per share. Quarterly revenues totaled $36.5 billion, missing the Zacks Consensus Estimate of $37.9 billion. The top line, however, increased from $33.1 billion recorded in the year-ago period. Segmental Highlights Financials Consolidated cash and cash equivalents were ¥4.95 trillion ($32.73 billion) as of Mar 3 ...

Honda Motor Co., Ltd. (NYSE:HMC) Q4 2024 Results Conference Call May 10, 2024 4:00 AM ET Company Participants Toshihiro Mibe - President, CEO Shinji Aoyama - Director, EVP & Representative Executive Officer Eiji Fujimura - Managing Executive Officer, CFO Operator Thank you so much for taking time to join us here today. And I'd like to begin Honda FY '24 financial results press conference. First, the executives in attendance today are Toshihiro Mibe, Director President and Representative Executive Officer. H ...