Japanese automaker Honda, the country's second-largest car manufacturer, announced its financial results on May 14, revealing its first annual loss in nearly 70 years of being publicly listed for the fiscal year ending in March. The loss was primarily driven by substantial restructuring costs in its electric vehicle business. According to the data, Honda recorded an operating loss of 414.3 billion yen (approximately $2.63 billion) for the fiscal year. This figure not only significantly exceeded market expectations of a 315.6 billion yen loss but also marked a sharp decline compared to the 1.2 trillion yen profit achieved in the previous fiscal year. The financial report indicated that the primary pressure on Honda's performance stemmed from high transformation costs. During the fiscal year, the company recognized losses and related expenses totaling 1.45 trillion yen (over $9 billion) for the restructuring of its electric vehicle operations. Furthermore, Honda anticipates facing approximately 500 billion yen in additional transformation expenses in the newly commenced fiscal year.