UPDATE 1-Honda returns to profit but expects chip shortage t

UPDATE 1-Honda returns to profit but expects chip shortage to crimp 2021 earnings


UPDATE 2-Honda returns to profit but sees chip shortage crimping 2021 earnings
Reuters
2 hrs ago
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* 2021 op profit forecast of 660 bln yen below expectations (Adds details, company executive's comment)
TOKYO, May 14 (Reuters) - Honda Motor Co on Friday reported a rebound to profit for the fourth quarter, helped by cost cuts, but warned semiconductor shortages and higher raw material costs would curb growth in the current year.
Its forecast for operating profit of 660 billion yen ($6.04 billion) in the year that began on April 1 was short of a 791.7 billion estimate by analysts, SmartEstimate data showed.
Seiji Kuraishi, Honda's executive vice president, said 100,000 vehicles were affected last year by the chip shortage, and its impact will continue in the first half of the year.

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