Japan's Honda aims to cut more than $9 billion in costs over the next four years and has instructed suppliers to drastically reduce their prices, according to internal documents and one person familiar with the matter.

According to a new Reuters report, Honda has told suppliers to drastically cut costs as the company aims to save $9 billion over the next four years.

Japan's Honda aims to cut more than $9 billion in costs over the next four years and has instructed suppliers to drastically reduce their prices, according to internal documents…