Honda’s profit plunges on disaster

TOKYO — Honda’s quarterly profit plunged nearly 90 percent to 31.7 billion yen ($406 million) because of sales damage from the quake in northeastern Japan.

Honda Motor Co.’s April-June profit was just a fraction of the 272.4 billion yen profit it posted a year earlier.

But Japan’s No. 3 automaker said Monday it managed to hold up despite the March 11 quake and tsunami, thanks to its growing motorcycle business.

Tokyo-based Honda raised its full year forecasts.