Honda profits plunge 88% as earthquake hurts production

Honda motors has reported an 88% plunge in first-quarter profits after the 11 March earthquake and tsunami.

Honda said it made a net profit of 31.7bn yen ($408m; £248m) compared with 274bn yen a year earlier.
Production at the Japanese carmaker slowed due to a shortage of parts after the twin disasters disrupted the country's supply chain.
However, in a sign that conditions are improving, Honda raised its full-year earnings forecast by 35%.

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