UPDATE 3-Honda lifts forecasts as Q2 profits soar despite yen


* Q2 op profit 163.5 bln yen vs consensus 167 bln yen * Lifts FY op profit forecast to Y500 bln from Y450 bln * Cost cuts absorb forex losses * Mazda cuts annual operating profit forecast * Honda shares end down 0.3 pct before results (Adds Mazda CEO, Honda executive, senior economist comments) By Chang-Ran Kim, Asia autos correspondent TOKYO, Oct 29 (Reuters) - Honda Motor Co's rosier forecasts and a doubling in quarterly profit showed deep cost cuts could go a long way in ...

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