Honda’s Philippine unit to close auto production plant

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Manila

The Philippine unit of Honda Motor Co Ltd (7267.T) said its production facility will shut down next month, as the Japanese automaker struggles to shore up global automobile operations.
Japan’s third-largest automaker has seen its profitability decline by more than half in the past two years, led by a series of quality-related issues. In a statement, Honda Cars Philippines Inc said its production plant south of the capital Manila will cease operations next month.—Reuters