Remote Workers Don’t Want to Go Back to the Office

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Honda warns of rising costs, forecasts weaker annual profit

TOKYO (Reuters) -Japan’s Honda Motor on Friday forecast a 7% fall in annual earnings, instead of an expected rise, and warned that the long chip crunch and rising raw material costs were hurting profit, echoing comments from rivals Toyota and Nissan. Global automakers such as Honda have slashed production due a severe shortage of semiconductors, and now face what top automaker Toyota Motor called an “unprecedented” increase in costs as China’s COVID-19 curbs have shuttered factories and the war in Ukraine further strains supply chains. “We are currently hoping to get the business on a recovery track in June,” by using parts that are in stock, Senior Managing Executive Officer Yasuhide Mizuno told a post-earnings call.

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