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Cost control boosts Honda Motor full year profit

Despite some unfavourable factors such as a decrease in demand due to the impact of the COVID-19 pandemic and the impact of semiconductor supply shortages, Honda Motor operating profit for the fiscal year ended 31 March, 2021 was JPY660.2bn due primarily to control of selling, general and administrative (SG&A) expenses and cost reduction efforts based on a review of business activities, as well as an increase in profit due to a year-on-year difference in the amount of the provision for credit losses recorded for financial services business.