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Honda shareholders clear buyback plan, hike directors` pay
Tokyo, June 24: Honda Motor Co.`s shareholders cleared a share buyback plan and approved higher bonuses for 36 directors to reward them for achieving a second year of record profit.
Tokyo, June 24: Honda Motor Co.'s shareholders cleared a share buyback plan and approved higher bonuses for 36 directors to reward them for achieving a second year of
record profit.
Takeo Fukui, who will be officially appointed president
of Japan's second-largest automaker later today, and 35 other
directors will have the limit on their collective bonuses
raised to as much as 480 million yen (4.1 million dollars) a
year from 380 million.
Tokyo-based Honda forecasts a third straight record annual profit, helped by north American sales of models such as Pilot sport-utilities and Accord Sedans.
The automaker makes almost 90 per cent of its operating profit in north America and U.S. markets. Honda's domestic share is shrinking because of its aging model line-up.
Honda also gained shareholder support for its plan to buy back as many as 25 million shares, or 2.6 per cent of its outstanding stock, spending as much as 100 billion yen. Bureau Report
Tokyo-based Honda forecasts a third straight record annual profit, helped by north American sales of models such as Pilot sport-utilities and Accord Sedans.
The automaker makes almost 90 per cent of its operating profit in north America and U.S. markets. Honda's domestic share is shrinking because of its aging model line-up.
Honda also gained shareholder support for its plan to buy back as many as 25 million shares, or 2.6 per cent of its outstanding stock, spending as much as 100 billion yen. Bureau Report