$8.1 billion of the losses will be taken in the current FY ending this month resulting in a loss of $4.3 billion for the FY – the company’s first loss in 69 years.
$7.5 billion of the losses will be taken in the FY ending March 2027.
“We recognise that the entire automotive industry is undergoing a major transition,” said Honda President and CEO Toshihiro Mibe, “looking back, it was an issu requiring reflection that we were unable to sufficiently revise our strategy with flexibility and multiple scenarios in response to changes in market conditions and policy trends.”
“I’m fully aware of the passion poured in by many 
employees, business partners and sales staff, as well as the high expectations expressed by our customers,” Mibe said, adding “what is required of us now is not to gloss over the past, but to confront reality head-on and transform our automobile business into a structure capable of long-term growth.”
Honda blamed changes in the hybrid categories, US tariffs, Chinese competition, and new entrants to the EV market.
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