Honda cuts profit forecast as China backlash hits

Japan’s Honda Motor cut its full-year net profit forecast by a fifth after sales in China, the world’s biggest autos market, were hit by a popular backlash against Japanese products last month in a dispute over East China Sea islands.

Honda cut its net profit forecast for the year to March to 375 billion yen (US$4.7 billion) from its earlier estimate of 470 billion yen.

via Business feed http://www.scmp.com/business/companies/article/1072377/honda-cuts-profit-forecast-china-backlash-hits