Honda Profit Misses Estimates as Takata Air Bag Recalls Mount
- Carmaker meets Takata as supplier's CEO pressured to step down
- `Takata-related costs remain unclear,' Jefferies analyst says
The unpainted frames of Honda Motor Co. Odyssey minivan move down the assembly line at Honda Manufacturing facility in Lincoln, Alabama, U.S.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Honda Motor Co., the biggest customer for troubled air-bag supplier Takata Corp., reported profit that missed analyst estimates as costly recalls to replace the devices expand.
The automaker posted net income of 124.2 billion yen ($1 billion) in the quarter through December, according to a company statement. That compares with the 149.3 billion yen average of eight analysts’ estimates compiled by Bloomberg. The company maintained its forecast for profit to rise to 525 billion yen for the fiscal year ending in March.