TOKYO, March 13 (Reuters) – Shares in Honda Motor fell more than 6% in Tokyo on Friday after the automaker flagged its first annual loss in almost 70 years as a listed company, hit by up to $15.7 billion in restructuring costs tied to its electric-vehicle business.
Honda stock was down 6.7% at 1,352 yen as of 0040 GMT, making it the biggest decliner on the benchmark Nikkei 225. If sustained, the drop would mark the company’s biggest one-day fall since early February 2025.
Japan’s second-largest automaker said on Thursday it expects a hit of as much as 2.5 trillion yen ($15.7 billion) as it cancels three EV models planned for production in the U.S.
It is likely to book as much as 1.3 trillion yen of those costs this fiscal year and 1.2 trillion yen the next.
Honda is also writing down the value of its China business, where it has struggled to compete with rivals such as BYD offering more advanced, software-driven vehicles.
($1 = 159.0000 yen)
(Reporting by Daniel Leussink; Editing by Christopher Cushing)
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