TOKYO, Nov 4 — Honda Motor Co reported quarterly profit missed estimates on quality-related expenses and as demand slumped in Japan. Net income rose 6.9 per cent to ¥127.8 billion (RM4.5 billion) in the quarter through September from a restated ¥119.5 billion a year earlier, Honda said today. That compares with the ¥129.5 billion average of eight analysts’ estimates compiled by Bloomberg. The automaker maintained its profit forecast. Honda, which sells the most vehicles in Japan after Toyota Motor Corp, has posted 12 straight months of declining deliveries at home as demand wanes after an increase in a sales tax last year. Weak demand in Japan has offset gains for Honda in China, where sales have been boosted by its crossover models, and in the US auto market that has registered the best two- month stretch of sales in 15 years. “Honda has been the most aggressive Japanese carmaker to produce locally in markets overseas so it’s not benefiting a lot from a weaker yen this year,� Seiji Sugiura, an analyst at Tokai Tokyo Research Centre, said before the earnings announcement. “In the meantime it’s suffering from a slump in the domestic market.� Honda today said it’s aware of evidence suggesting Takata Corp manipulated air bag inflator test data and will no longer use the components in its new models under development. Takata, which has agreed to pay a record US civil penalty of up to US$200 million (RM852.5 million) over faulty air bags, has disputed that it manipulated data. The company posted an operating profit of ¥164.8 billion, compared with analyst estimates of ¥176.6 billion. — Bloomberg

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