• Kyodo

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Honda Motor Co. said Friday its net profit fell 32.4 percent in the business year ended in March, as costs related to a recall of defective air bag inflators made by Takata Corp. offset solid sales in North America and Asia.

Honda, the nation’s third-biggest carmaker by volume, posted a group net profit of ¥344.53 billion ($3.17 billion) for the year, down from ¥509.44 billion the previous year.

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