Key facts: Honda ¥423.9B loss; cancels EV plans; global sourcing
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Honda reported a net loss of ¥423.9 billion and an operating loss of ¥414.3 billion for FY Mar 2026, primarily due to ¥1.58 trillion in EV impairments and restructuring costs. Revenue increased by 0.5% to ¥21.80 trillion. The company has canceled several major EV projects, including three models in Ohio and an $11 billion Canadian EV/battery complex, and will shift focus to hybrids in North America starting in 2027. Honda will also implement global cost-competitive sourcing for parts from countries like India, China, and Japan.
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