TOKYO (AP) - Honda Motor Co.'s net profit for the first quarter of its fiscal year slipped 7 percent, although its auto sales grew in every region except Japan.

TOKYO (AP) Honda Motor Co.'s net profit for the first quarter of its fiscal year slipped 7 percent, although its auto sales grew in every region except Japan.

Tokyo-based Honda reported Wednesday a 122.4 billion yen ($1.25 billion) profit for the April-June period. The Japanese automaker also got a perk from a favorable currency rate.

The company said it invested in research and new plants and that operating profit grew compared to the previous year.

The maker of the Odyssey minivan and Fit subcompact stuck to its annual forecast for 580 billion yen ($5.9 billion) profit, up nearly 60 percent on year.

It's expecting to sell 4.43 million vehicles for the fiscal year through March 2014, up from 4 million the previous year.

Japanese automakers, including Honda, are growing in emerging markets.