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Wednesday, February 16, 2011
Honda is known best for its automotive business. But Honda really doesn't only make automobiles and motorcycles, they have a hand in everything, even seafood supply contracts.
Lately, Honda's seafood business has been viewed under a microscope after irregular seafood transactions pushed Honda's earnings up the chart. A closer inspection revealed that Honda has been propping up seafood vendors by purchasing seafood at more than the market price since 2004.
Honda has now fired up to 5 execs including its Trading Corporation President. The impact of this is so large that Honda expects to pull out of its seafood operations in the coming months.
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