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Air-bag recalls force Honda to lower its profit forecast

2015-01-31 14:41:55| Automakers - Topix.net

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Honda lowers forecasts, sees dip in quarterly profit after recall expenses counter cheap yen

2015-01-30 09:34:44| Automakers - Topix.net

In this July 29, 2014 file photo, a man rides a bicycle near cars displayed at a Honda showroom in Tokyo. Honda Motor Co., the Japanese automaker at the center of an air-bag defect scandal, lowered its annual earnings forecast after quarterly profit slipped 15 percent.

Tags: counter cheap profit expenses

Honda cuts profit target as Takata air bag recalls bite

2015-01-30 09:34:43| Automakers - Topix.net

Japan's Honda Motor Co sliced 6.5 percent off its core annual profit forecast as it set aside hundreds of millions of dollars in extra cash to cover an extended car recall to replace potentially faulty air bags made by Takata Corp. Reporting its third-quarter earnings fell by nearly a quarter as it soaked up recall costs, Japan's third-largest automaker said it now expects an operating profit of 720 billion yen for the year to March 31. It previously forecast 770 billion yen, but has set aside an extra 50 billion yen to cover what it said were quality-related costs including the Takata air bag recalls.

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