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UPDATE 1-Mitsubishi, Honda to recall combined 562,000 cars

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TOKYO, Nov 20 (Reuters) - Japan's Mitsubishi Motors Corp and Honda Motor Co said on Thursday they would recall a combined 562,585 cars worldwide in another sign of heightening quality issues in the auto industry.

There were no reports of any accidents in either case and both auto makers said the impact on their earnings this year would be minimal.

Fourth-ranked Mitsubishi Motors said it would recall 349,376 cars worldwide for a cost of up to five billion yen ($45.80 million), due to defects in its Grandis minivan and its Lancer and Galant sedans. Of the total, 205,732 units are in Japan.

Honda, Japan's second-largest auto maker, said its recall of 213,209 cars spans four models -- the Stream minivan, the CR-V multi-purpose vehicle, and the Integra and Civic Ferio cars -- for a cost of about 860 million yen.

Honda issued the recall, due to a loose bolt in the power steering box that could disable the steering wheel, only in Japan after six reported cases.

A company spokeswoman said the models had been exported to many countries, including the United States, Canada, Britain and Australia.

"We are planning to discuss whether a recall is necessary with the authorities in the various countries," she said. ($1=109.16 yen)