Honda Motors announced its earnings for the full fiscal year 2015 on Tuesday, April 28. The company reported a 17.2% drop in net income compared to the last fiscal year, due to high costs associated with the recall of faulty air bags supplied by Takata Corporation and the hybrid systems used in the Fit and Vezel, and weak car sales in the U.S. and Japan. Total revenues for the year fell by about 3%, but the fall is attributable to the decline in the value of the yen compared to the U.S. dollar. On a constant currency basis, net sales grew by 6.8% for the year.
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