Honda revises last year earnings

Japanese car giant Honda revised down its annual earnings for the last fiscal year on Friday, blaming the expanding recalls of faulty airbags made by Takata, which have been linked with eight deaths. The nation's third biggest automaker said its net profit for the year to March this year was 493 billion yen, or $4 billion, falling 14.1 percent from the previous year.
The level compared with the originally announced 522.7 billion yen that would have marked an 8.9 percent annual slide. Updated operating profit came to 606.9 billion yen, which would register as an annual fall of 19.1 percent, lower than the earlier stated 651.6 billion yen, Honda said. The company kept its annual sales figure at 12.6 trillion yen, up 6.8 percent from the previous year.