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Japanese automakers such as Honda and Mazda are heading into another grim year despite posting upbeat quarterly results for the end of 2022. (Source photos by Reuters)

SAYUMI TAKE, Nikkei staff writer

February 15, 2023 16:42 JST

TOKYO -- Japan's auto companies are driving into another grim year despite posting upbeat quarterly results for the end of 2022 as chip shortages continue to shackle operations and the stronger yen threatens to weigh on their financial statements.

Of the seven major Japanese automakers, six -- Honda Motor, Nissan Motor, Suzuki Motor, Subaru, Mazda Motor and Mitsubishi Motors -- reported an increase in net income for the October-December period compared to the same quarter the previous year. Toyota Motor, the largest, reported an 8% decrease year-on-year.