The Traderszone Network

Published in TZ Latest News 29 January, 2015 by The TZ Newswire Staff

Honda cuts profit target as Takata air bag recalls bite

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 ($6.1 billion) for the year to March 31.

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