Its operating profit increased 22.2% year-over-year to ¥280.49 billion ($2.11 billion). This strategic alliance is expected to boost HMC’s profitability and growth in the upcoming years.įor the third quarter that ended December 31, 2022, HMC’s sales revenue came in at ¥4.44 trillion ($33.38 billion), up 20.3% year-over-year. The facility aims to have an annual production capacity of about 40GWh.īatteries generated by the venture would be supplied exclusively to HMC plants in North America to power battery EVs. In January, both companies entered into a JV agreement to produce lithium-ion batteries for EVs. On February 28, 2023, HMC and LG Energy Solution held the official ground-breaking ceremony for a new joint venture (JV) EV battery plant in Fayette, Ohio. It operates through four segments: Motorcycle Business Automobile Business Financial Services Business and Life Creation and Other Businesses. Headquartered in Tokyo, Japan, HMC develops, manufactures, and distributes motorcycles, automobiles, power products, and other spare parts in Japan, North America, Europe, Asia, and internationally. Recent economic data releases indicating jobs growth, strong retail sales, and high inflation levels could keep the Fed on track for another interest rate hike in the coming week, despite concerns that the recent banking crisis could have a broader economic impact. But it is still well above the Fed’s 2% target. Inflation, as measured by the Consumer Price Index (CPI), has gone down from an 8.5% annual rate then to 6% now. The central bank has launched eight rate increases through February 2023. banks should not deter the Fed from its fight against stubborn inflation, according to former Fed official Thomas Hoenig.Įxactly one year ago, the Federal Open Market Committee (FOMC) enacted its first interest rate hike. However, the shocking collapse of two major U.S. ( AN ) could be ideal investments for solid long-term returns.Īfter the recent failures of Silicon Valley Bank (SVB) and Signature Bank, the stock market has witnessed heightened volatility, as evidenced by CBOE Volatility Index’s more than 16% gains over the past month. ( HMC ), Ryerson Holding Corporation ( RYI ), and AutoNation, Inc. Given this backdrop, quality stocks Honda Motor Co., Ltd. The insolvency issues in the banking sector amid the possibility of the Fed raising interest rates higher than expected have induced immense market volatility lately. The Fed’s fight against stubborn inflation has hit its first major roadblock with the recent bank failures.
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