Honda Motor Co. on Friday lowered its earnings estimates for the business year through March, citing weak sales in Japan and China as well as the cost of global recalls linked to air bags provided by Takata Corp.
The carmaker now expects a group net profit of ¥545 billion for fiscal 2014, compared with an earlier forecast of ¥565 billion.
It also cut its operating profit outlook to ¥720 billion from ¥770 billion, on sales of ¥12.90 trillion, against the earlier forecast of ¥12.75 trillion.
The company said net profit for the April-December period rose 5.3 percent from a year earlier to ¥424.93 billion. Operating profit dropped 7.7 percent to ¥539.74 billion, on sales of ¥9.29 trillion, up 6.3 percent.