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FIA levels F1 playing field for Honda

Formula One may place a high emphasis on technical innovation, but it also demands an equal playing field. So after the FIA regulations handed Mercedes a technical advantage for next season, a loophole was opened up to allow Ferrari and Renault to update their engines throughout the year. That left engine-supplier-to-be Honda in the dust, but now the motorsport governing body has awarded the Japanese automaker the same courtesy. As is often the case, the issue revolves around the specific wording of the regulations. Ferrari and Renault successfully argued that, contrary to its spirit, the letter of the law (or regulations, in any event) didn't actually specify when existing engine suppliers had to complete their revisions for the upcoming championship. The thing is that the rules were more clear when it came to new suppliers, so Honda was told that it would have to complete its design before the start of the season – unlike Ferrari, Renault and Mercedes, which would be allowed to continue development (albeit on a limited basis) throughout the year. Recognizing the inherent injustice of the resulting regulations, the FIA has consented to Honda's request that it be afforded the same opportunities as its rivals. The Japanese manufacturer, which returns to the paddock this season with McLaren, will therefore be allowed to make adjustments to its engines as its first season back on the grid progresses, just like the other engine suppliers. News Source: AutosportImage Credit: McLaren Motorsports Honda McLaren F1 fia regulations

Honda replaces CEO Takanobu Ito with Takahiro Hachigo

At its upcoming shareholders' meeting in June, Honda is set to make a raft of changes to its senior personnel, including new board members, directors, auditors and operating officers. But the most pivotal of the new appointments will see the replacement of its president and chief executive. That job currently belongs to Takanobu Ito, who will step down in June and hand the reins over to Takahiro Hachigo, subject to ratification by the shareholders. Hachigo-san has been with Honda since 1982, rising up the ranks and holding a series of key executive and R&D posts with the Japanese automaker in locations around the world – including here in the United States, where he spearheaded development of the original Odyssey minivan and directed the company's American R&D center. He subsequently headed Honda's European operations and currently serves as its most senior officer in China. He's 55 years old. He takes over from Ito-san after a tumultuous period for Honda. Ito, 62, joined Honda in 1978 and similarly rose through the R&D ranks, holding some of the same positions along the way that Hachigo would later, albeit more focused on the company's operations at home in Japan. Ito took over as president and CEO in 2009, steering Honda through a difficult period marked by fluctuating currencies, the tsunami disaster of 2011 and flagging quality issues that have forced Honda to issue unprecedented recalls, focusing much criticism on Ito's leadership. Honda recently recalled millions of vehicles that were fitted with Takata's faulty airbag inflators, which had the unpleasant tendency to spew shrapnel at consumers. Ito will remain on board as a director and advisor, but what we'll be most interested to see is the direction in which Hachigo will take the company. Under Ito's leadership, Honda has brought back performance icons like the NSX and Civic Type R, launched innovative environmental technologies, delved into aerospace with the HondaJet and re-entered Formula One. One of Hachigo's first priorities will undoubtedly be to restore the company's reputation for quality, but we'll have to wait and see what (if any) sort of new and exciting developments he'll spearhead once he takes office. Honda Motor Co., Ltd. Announces New President & CEO Tokyo, February 23, 2015 --- Honda Motor Co., Ltd.

Toyota raises Japanese base wages for first time since 2008

Toyota is on track for record profits, and in return, its Japanese workers are receiving their first increase in base wages since 2008, plus higher pay based on seniority and a larger bonus for 2014. The Japanese automaker predicts the average laborer will net a 2.9 percent income gain.
The average Toyota employee will earn 2,700 yen ($26.28) more each month, a 0.8 percent increase from last year. Workers will also receive about 7,300 yen ($71.09) more monthly based on seniority and promotions. Finally, the company's union pushed through a median bonus of 2.44 million yen ($23,768) for 2014, the highest in 6 years.
The pay boost comes as Toyota forecasts a record 1.9-trillion yen ($18.5 billion) profit for the fiscal year ending on March 31, according to Bloomberg. It has been helped by the Japanese government's efforts to weaken the yen on international markets and expand inflation. Prime Minister Shinzo Abe has been asking businesses to increase compensation to end years of deflation and offset upcoming higher sales taxes. Honda and Nissan have also raised their wages there in recent months.