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Honda Motor Co.

Honda records 20 pct profit rise on yen, despite recalls

Japanese automaker Honda reported Friday a 20 percent jump in fiscal first quarter profit on the back of a cheap yen that offset the damage from a massive air bag recall. Honda Motor Co.'s April-June net profit totaled 186 billion yen ($1.5 billion), up from 155.6 billion yen the same period the previous year. Quarterly sales gained nearly 16 percent to 3.7 trillion yen ($29.9 billion). The Tokyo-based maker of the Accord sedan and Odyssey minivan has been the hardest hit among automakers from the costs related to a global recall of Takata Corp.'s air bags that can explode. Takata has recalled almost 34 million air bag inflators in the United States. Globally, the recalls...