 |
| Honda Motor Corp © |
TOKYO,
Japan, January 30, 2015 - Honda Motor Co., Ltd. announced its
consolidated financial results for the fiscal third quarter ended
December 31, 2014.
Consolidated operating income for the fiscal third
quarter (October 1, 2014 through December 31, 2014) amounted to 177.2
billion yen, a decrease of 22.5% compared to the same period last year,
due to profit-reducing factors such as a difficult automobile market
environment in Japan and an increase in quality-related expenses mainly
in North America. This was despite profit-increasing factors such as an
increase in motorcycle sales in Asia and favorable currency effects
associated with depreciation of the Japanese yen. Consolidated income
before income taxes for the fiscal third quarter amounted to
194.1billion yen, a decrease of 10.4% compared to the same period last
year. Consolidated net income*1 for the fiscal third quarter amounted to 136.5 billion yen, a decrease of 15.1% compared to the same period last year.
Consolidated operating income for the fiscal nine
months (April 1, 2014 through December 31, 2014) amounted to 539.7
billion yen, a decrease of 7.7% compared to the same period last year,
and consolidated net income*1 amounted to 424.9 billion yen, an increase of 5.3% compared to the same period last year.
Reflecting the fiscal nine month results, as well as
the forecasted favorable effect of yen depreciation, a forecasted
decline in unit sales in Japan and China due to the difficult automobile
market environment and a forecasted increase in quality-related
expenses mainly in North America, Honda made some revisions to the
previously announced forecasts for the current fiscal year (April 1,
2014 through March 31, 2015). The previously announced forecast for
consolidated operating income was revised downward from 770.0 billion
yen to 720.0 billion yen. The forecast for consolidated net income*1 for the current fiscal year was also revised downward from the previous 565.0 billion yen to 545.0 billion yen.
The quarterly dividend for the fiscal third quarter
will be 22 yen per share, a 2 yen increase compared to the quarterly
dividend for the same period last year. The total cash dividend to be
paid for the fiscal year ending March 31, 2015 is expected to be 88 yen
per share, an increase of 6 yen per share from the previous fiscal year.
Consolidated Financial Results for the Fiscal 3rd Quarter and Fiscal Nine Months
|
|
|
3rd quarter
ended
Dec. 31, 2013
(3 months period)
|
3rd quarter
ended
Dec. 31, 2014
(3 months period)
|
Difference
|
Fiscal
9 months ended
Dec. 31, 2013
(9 months period)
|
Fiscal
9 months ended
Dec. 31, 2014
(9 months period)
|
Difference
|
|
Honda Group Unit Sales*2 (million units) |
Motorcycles*4
|
4.251
|
4.432
|
+0.181
|
12.521
|
13.150
|
+0.629
|
|
Automobiles*5 |
1.082
|
1.028
|
-0.054
|
3.128
|
3.160
|
+0.032
|
|
|
Power Products |
1.162
|
1.148
|
-0.014
|
4.046
|
3.944
|
-0.102
|
|
|
Consolidated Unit Sales*3 (million units) |
Motorcycles*4
|
2.657
|
2.763
|
+0.106
|
7.613
|
7.963
|
+0.350
|
|
Automobiles*5 |
0.900
|
0.877
|
-0.023
|
2.627
|
2.652
|
+0.025
|
|
|
Power Products |
1.162
|
1.148
|
-0.014
|
4.046
|
3.944
|
-0.102
|
|
|
Financial Results (billion yen) |
Net sales and other operating revenue
|
3,020.8
|
3,289.9
|
+269.0
|
8,745.2
|
9,293.0
|
+547.8
|
|
Operating income |
228.5
|
177.2
|
-51.3
|
584.9
|
539.7
|
-45.2
|
|
|
Income before income taxes |
216.6
|
194.1
|
-22.4
|
554.2
|
572.7
|
+18.5
|
|
|
Equity in income of
affiliates |
31.6
|
28.5
|
-3.0
|
95.0
|
89.9
|
-5.1
|
|
|
Net income*1 |
160.7
|
136.5
|
-24.2
|
403.5
|
424.9
|
+21.3
|
|
|
Quarterly dividend per share (yen)
|
20
|
22
|
+2
|
60
|
66
|
+6
|
|
|
Honda’s Average Rate (yen) |
USD =
|
100
|
114
|
Down by 14 yen
|
99
|
107
|
Down by 8 yen
|
|
EUR = |
139
|
144
|
Down by 5 yen
|
134
|
141
|
Down by 7 yen
|
|
Forecasts for the Fiscal Year ending March 31, 2015 (FY15)
|
|
|
FY14 results
|
Previously announced FY15 forecasts
(2014/10/28)
|
Revised
FY15 forecasts
(2015/1/30)
|
Difference compared to FY14 results
|
Difference compared to previously announced forecasts
|
|
Honda Group Unit Sales*2 (million units) |
Motorcycles
|
17.021
|
17.950
|
17.815
|
+0.794
|
-0.135
|
|
Automobiles*5 |
4.323
|
4.620
|
4.450
|
+0.127
|
-0.170
|
|
|
Power Products |
6.036
|
6.185
|
6.120
|
+0.084
|
-0.065
|
|
|
Consolidated Unit Sales*3 (million units) |
Motorcycles
|
10.343
|
10.850
|
10.790
|
+0.447
|
-0.060
|
|
Automobiles*5 |
3.560
|
3.760
|
3.650
|
+0.090
|
-0.110
|
|
|
Power Products |
6.036
|
6.185
|
6.120
|
+0.084
|
-0.065
|
|
|
Financial Results/ Forecasts (billion yen) |
Net sales and other operating revenue
|
11,842.4
|
12,750.0
|
12,900.0
|
+1,057.5
|
+150.0
|
|
Operating income |
750.2
|
770.0
|
720.0
|
-30.2
|
-50.0
|
|
|
Income before income taxes |
728.9
|
765.0
|
745.0
|
+16.0
|
-20.0
|
|
|
Equity in income of
affiliates |
132.4
|
120.0
|
120.0
|
-12.4
|
―
|
|
|
Net income*1 |
574.1
|
565.0
|
545.0
|
-29.1
|
-20.0
|
|
|
Annual dividend per share (yen)
|
82
|
88
|
88
|
+6
|
―
|
|
|
Honda’s Average Rate (yen) |
USD =
|
100
|
104
|
109
|
Down by
9 yen
|
Down by
5 yen
|
|
EUR = |
136
|
137
|
138
|
Down by
2 yen
|
Down by
1 yen
|
|
*1 Net income attributable to Honda Motor Co., Ltd. based on U.S. generally accepted accounting principles.
*2 Honda Group Unit Sales is the total
unit sales of completed products (motorcycles, ATVs, automobiles, power
products) of Honda, its consolidated subsidiaries and its affiliates
accounted for under the equity method.
*3 Consolidated Unit Sales is the total
unit sales of completed products (motorcycles, ATVs, automobiles, power
products) corresponding to consolidated net sales, which consists of
unit sales of completed products of Honda and its consolidated
subsidiaries.
*4 Honda Group Unit Sales and
Consolidated Unit Sales of ATVs included in motorcycle business for the
fiscal 3rd quarter ended December 31, 2013 and 2014 are 33 thousand
units and 40 thousand units, respectively. Honda Group Unit Sales and
Consolidated Unit Sales of ATVs included in motorcycle business for the
fiscal nine months ended December 31, 2013 and 2014 are 82 thousand
units and 93 thousand units, respectively.
*5 Certain sales of automobiles that
are financed with residual value type auto loans by our Japanese finance
subsidiaries and sold through our consolidated subsidiaries are
accounted for as operating leases in conformity with U.S. generally
accepted accounting principles and are not included in consolidated net
sales to the external customers in our automobile business. As a result,
they are not included in Consolidated Unit Sales, but are included in
Honda Group Unit Sales of our automobile business.
Source honda Motor Co. by press release ©
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