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Honda execs taking pay cuts

Tokyo - Honda Motor Co said on Thursday its executives would take salary cuts for three months after the fifth recall in a year of the new Fit hybrid in Japan.

Honda chief executive Takanobu Ito and other executives will cut their monthly pay by 10 to 20% for three months to take responsibility for the repeated repairs in Japan, the carmaker said in a statement.

Honda issued a recall for 425 825 cars on Thursday because of problems with an ignition coil and a power-supply circuit. The recall covers some Fit and Vezel hybrids and some gasoline-version Fit and N-WGN small cars.

A spokesperson for Honda said it had not received any reports of accidents or injuries caused by any of the defects.

Japan's third-largest carmaker also said one executive will assume a newly created post to oversee quality improvements.

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