Honda Motor’s CEO, Toshihiro Mibe, expressed deep regret to shareholders on Wednesday for the irregularities discovered in the company’s engine testing processes. The apology was delivered during Honda’s annual shareholders’ meeting in Tokyo.
Mibe extended a heartfelt apology for the anxiety caused by these issues, emphasizing the company’s commitment to addressing the situation. Senior Managing Executive Officer Noriya Kaihara clarified that the irregularities were due to a “technical problem” and stressed that there was no internal pressure to commit fraud.
Kaihara assured shareholders that Honda is taking significant steps to prevent future occurrences by enhancing its system of checks and balances. This initiative is part of Honda’s broader effort to maintain transparency and uphold its reputation for quality and integrity.
In addition to addressing the testing issues, Mibe announced that Honda and Nissan Motor are making progress in their collaborative efforts. Details of their partnership, which focuses on software and core components for electric vehicles, are expected to be revealed in the summer.
Despite the recent challenges, shareholders voted to reappoint Mibe and other directors to Honda’s board, signaling continued confidence in the company’s leadership as it navigates these issues and works towards future innovations.
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