Honda sharply cuts earnings forecasts

TOKYO: Japan's Honda Motor Co on Wednesday cut its full-year forecast by the more than half, its third revision downwards this year due to a soaring yen and a global economic slowdown.

Japan's second largest automaker said it now expected a net profit of 185 billion yen (2.08 billion dollars) for the year to March, sharply down from its earlier forecast of a 485 billion yen net profit.