Honda profit tops Japanese firms

TOKYO: Strong sales of Honda motor vehicles in North America and Southeast Asia have helped the Japanese carmaker to post the highest overseas operating profit among Japanese companies.

In the 1996 financial year, Honda's overseas profit reached nearly US$1.7 billion -- up 228 percent from the previous year. Sony and Toyota were ranked second and third.

Carmakers and electronics companies held the top four spots while general trading firms like Itochu took fifth to seventh places.

Honda's overseas profit accounted for 49 percent of its total.

Combined overseas profit for the 352 firms surveyed for 1996 reached nearly US$12.8 billion -- up 18 percent from the previous year.