Honda Seen Beating Outlook On Weak Yen, China Sales

The Nikkei reported that Honda Motor Co.'s group operating profit for the year ended March 31 is likely to come in about 10 billion higher than the company previously forcast thanks to a weaker yen and better-than-expected sales in China in the 1Q of 09.

Japan astounded the world with the news that Japan recorded a -14.9% GDP (annualized rate) in 4Q of 08. Since Japanese banks had not invested much in subprime-issued papers, people thought that the Japanese economy would fare better than other developed countries. In fact, Japan fared worse. But on the bright side, since Japanese companies responded the worldwide crisis first they should be the first to take off when the world economy comes back.