This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-20119735
The article has changed 6 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Honda lowers profit forecast amid China - Japan dispute | Honda lowers profit forecast amid China - Japan dispute |
| (35 minutes later) | |
| Honda has cut is annual profit forecast after anti-Japan protests in China hurt its sales in the country, its second-largest market. | Honda has cut is annual profit forecast after anti-Japan protests in China hurt its sales in the country, its second-largest market. |
| The protests, triggered by a row over disputed islands, saw Chinese consumers shun Japanese products. Honda's sales in China dipped by 40% in September. | |
| The carmaker has forecast a net profit of 375bn yen ($4.7bn; £2.9bn) for the financial year ending 31 March 2013. | The carmaker has forecast a net profit of 375bn yen ($4.7bn; £2.9bn) for the financial year ending 31 March 2013. |
| That is down from its earlier projection of 470bn yen. | That is down from its earlier projection of 470bn yen. |
| Honda said it expects income at its China unit to decline further in wake of the dispute between the two countries. | |
| Analysts said other Japanese carmakers, which also saw their sales in China hurt by the protests, may make similar moves. | |
| "It's likely Toyota and Nissan are going to cut forecasts in the same way," said Fujio Ando, managing director at Chibagin Asset Management. | |
| "A cut was to be expected because the problems with China weren't factored into forecasts." | |
| The protests in China followed Japan's purchase of islands known as Senkaku in Japan and Diaoyu in China, over which China claims sovereignty and which are also claimed by Taiwan. |