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After less than a month on the job, Honda Motor Co. CEO Takahiro Hachigo has outlined his vision for a "new Honda." Much of the plan echoes the mantra of a now-flourishing rival.

Hachigo, 56, a veteran r&d engineer who took office June 17, aims to prioritize innovative cars, abandon aggressive growth targets and maximize existing production capacity before adding more.

If the formula sounds familiar, it should. Toyota Motor Corp. President Akio Toyoda steered his company on a similar course after its financial stumble during the Great Recession and its 2010 unintended acceleration crisis.

In some ways, Honda is recovering from a similar bind.



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