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Honda said Tuesday that its fiscal-year net profit fell 8.9 percent to $4.4 billion as Japan's number three automaker grapples with soaring recall costs, including from an exploding airbag crisis linked to at least five deaths. The Civic maker downgraded its profit forecasts twice before the results were published Tuesday, as it warned the airbag scandal at supplier Takata would take a toll on its bottom line, as well as falling demand in Japan and the world's biggest vehicle market, China. For the current fiscal year, Honda forecast a net profit of 525 billion yen on sales of 14.5 trillion yen, under a new system of accounting standards the carmaker has adopted. In February, Honda said its president, company veteran Takanobu Ito, would step down as the company works through the recall crisis, which it cited as a key reason for its declining profit.