Honda and Nissan represent the second and third largest Japanese automobile companies – behind only Toyota in global sales volume.

Still, Nissan has notably lost its footing in the past year. Last month, the automaker reported a net earnings decline of more than 90% for the first half. In turn, Nissan cut its profit forecasts significantly and axed thousands of jobs.

Meanwhile, despite posting a disappointing second quarter, Honda increased its guidance in a sign of strength for the full fiscal year.

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