Honda posts surprise fourth quarter loss, dragged down by Takata recalls
TOKYO Honda Motor Co (7267.T) posted on Friday a surprise net loss for the fourth quarter as its quality-related costs, mostly to recall Takata-made air bag inflators, nearly quadrupled for the full business year.
For the three months ended March 31, Japan's third-largest automaker by sales posted a net loss of 93.4 billion yen ($859.56 million), compared to the profit of 115.35 billion yen expected in a survey of nine analysts by Thomson Reuters I/B/E/S.
Honda said its full-year results absorbed the impact of roughly 267 billion yen more in quality-related costs than its original estimate... read more
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