UPDATE 1-Honda to shift procurement to emerging markets - Nikkei

Newswire

March 31 (Reuters) - Honda Motor Co plans to move procurement of automobile parts to emerging markets from developed nations, and consolidate purchases to cut costs by 10 percent, the Nikkei business daily reported. Initial savings from the consolidation of parts suppliers are estimated at 100 billion yen ($1.08 billion) annually, the paper said without citing sources. Honda's transactions with parts suppliers in China, India, Southeast Asia, Brazil and other emerging countries are ...

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