• The Detroit Bureau, Wednesday, February 1, 2012 10:15 AM

Honda Motor Co. Ltd. reported a drop in revenue, operating and net income for the third fiscal quarter – largely due to flooding in Thailand and the rising value of the yen, which sharply raised the company’s overall manufacturing costs. Honda had hoped to begin boosting production and rebuilding inventory after the setbacks that followed Japan’s devastating March 31 earthquake and tsunami.

The Japanese automaker’s consolidated operating income for the fiscal third quarter ending Dec. 31 dropped 64%, to ¥44.2 billion, or $578 million. Honda’s worldwide unit sales of automobiles dropped to 830,000 during the company’s fiscal third quarter, which ended on Dec. 31.

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