Key Developments: Honda Motor Co Ltd (HMC)
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23 May 2013
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Latest Key Developments (Source: Significant Developments)
Honda Motor Co Ltd's Small Jet's U.S. Certification Delayed By A Year-Reuters
Reuters reported that Honda Motor Co Ltd's small passenger jet will not be licensed to fly by authorities in the United States until the second half of 2014, a year later than the company originally planned. Honda expects the U.S. Federal Aviation Administration to certify the unconventional looking HondaJet late next year. It had initially expected the aircraft to win flight approval in 2013, but this was held up due to a minor issue in the certification procedure, which has since been resolved. Full Article
Honda Motor Co Ltd, Three Other Japan Carmakers To Recall 3.4 Million Vehicles Over Airbag-Reuters
Reuters reported that four Japanese automakers including Toyota Motor Corp, Nissan Motor Co Ltd and Honda Motor Co Ltd are recalling a total of about 3.4 million vehicles worldwide as a result of an airbag problem. Japanese auto parts maker Takata Corp supplied the airbags related to the recalls. Toyota is recalling about 1.73 million vehicles globally, including 580,000 vehicles in North America and 490,000 vehicles in Europe because some airbags at the front seat next to the driver may not inflate when necessary. No injuries or deaths have been reported. Full Article
Honda Motor Co Ltd Recalls TSX Sedans To Reinforce Electronic Control Unit-Reuters
Reuters reported that Honda Motor Co Ltd will recall 76,000 Acura TSX sedans in the United States to install a water-resistant cover over the electronic control unit to prevent corrosion that could ultimately lead to stalling. The action covers sedans built for the 2004 through 2008 model years in 22 U.S. states and Washington, D.C., the Japanese automaker said in a press release. Road salt used in cold-weather states and water from the driver's shoes could soak the carpet under the dashboard that covers the metal case the electronic control unit, Honda said. The road salt and water can damage the metal case, and potentially hurt the unit itself. No crashes or injuries have been reported related to this issue, Honda said. Full Article
Honda Motor Co Ltd Appoints Chairman
Honda Motor Co Ltd announced that it has appointed Fumihiko Ike as Chairman of the Board of the Company, effective April 1, 2013. Full Article
Honda Motor Co Ltd Declares Quarterly Dividend
Honda Motor Co Ltd announced that at its meeting held on January 31, 2013, resolved to make the quarterly dividend JPY19 per share of common stock, the record date of which is December 31, 2012. The total expected annual dividend per share of common stock for the fiscal year ending March 31, 2013, is JPY 76 per share. Full Article
Honda Motor Co Ltd to Delist from London Exchange Change
Honda Motor Co Ltd announced that it has filed for delisting from London Stock Exchange (LSE) on January 31, 2013. The stock is expected to delist from LSE in the end of March 2013. Its stock will continue listing on Tokyo Stock Exchange and Osaka Securities Exchange. Full Article
R&I Affirms Honda Motor Co Ltd's Rating at "AA"; Rating Outlook Stable
Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating on Honda Motor Co Ltd at "AA". The rating outlook is stable. Full Article
Honda Motor Co Ltd Recalls 777,000 Odyssey, Pilot vehicles-Reuters
Reuters reported that Honda Motor Co said it is recalling 777,000 late-model Pilot and Odyssey vehicles in the United States and Canada due to a problem with the deployment of driver's side airbags, American Honda said. Honda said some driver's side airbags were may have been installed without some of the rivets that secure the airbag's plastic cover. If the rivets are missing, the airbag may not deploy properly, increasing the risk of injury in a crash. Honda recalled 748,000 Pilots and Odysseys in the United States and another 29,000 in Canada. The Pilot crossover vehicles recalled are from model years 2009 to 2013 and Odyssey minivans from model years 2011 to 2013. Full Article
Honda Motor Co Ltd To Cut 800 Jobs-Reuters
Reuters reported that Honda Motor Co Ltd plans to cut around 800 jobs at its plant near Swindon in southwest England due to falling demand for its vehicles across mainland Europe. Honda employs some 3,500 staff at the South Marston plant. Full Article
Honda Motor Co Ltd's Honda Car India To Set Up Greenfield Diesel Engine Factory In Rajasthan-The Economic Times
The Economic Times reported that Honda Car India, the wholly-owned subsidiary of Honda Motor Co. of Japan will set up a greenfield diesel engine factory at its second industrial location in Rajasthan that have largely remained unutilized over the past five years. The Indian subsidiary will debut Honda's first global compact car in diesel in 2013 fired by the locally-manufactured engines. Full Article
Factory activity slips to seven-month low in May: Markit
NEW YORK - Manufacturing slowed for a second straight month in May as weak overseas demand and government belt-tightening at home led to the sector's most sluggish rate of growth since October, a survey showed on Thursday.
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