Consolidated Financial Summary for the Fiscal 2nd Quarter ended September 30, 2013
TOKYO, Japan, October 30, 2013 – Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal second quarter and the fiscal first half ended September 30, 2013.
Despite an increase in selling, general and administrative (SG&A) expenses and depreciation expenses related to the startup of new production plants, consolidated operating income for the fiscal second quarter (July 1, 2013 through September 30, 2013) amounted to 171.4 billion yen, an increase of 70.0% compared to the same period last year, primarily due to increased automobile sales mainly in North America, increased motorcycle sales mostly in Asia and favorable currency effects associated with the depreciation of the Japanese yen. Consolidated income before income taxes amounted to 165.5 billion yen, an increase of 55.8% compared to the same period last year, and consolidated net income*1 amounted to 120.3 billion yen, an increase of 46.4% compared to the same period last year.
Consolidated operating income for the fiscal first half (April 1, 2013 through September 30, 2013) amounted to 356.4 billion yen, an increase of 28.7% compared to the same period last year, and consolidated net income*1 amounted to 242.8 billion yen, an increase of 13.5% compared to the same period last year.
Previously announced forecasts for consolidated net sales and other operating revenue and consolidated operating income for the current fiscal year ending March 31, 2014 will remain unchanged based on the results for this fiscal first half. The previously announced forecast for consolidated net income*1 for the current fiscal year also will remain unchanged due to an expected increase in equity in income of affiliates despite a decrease in other income.
The quarterly dividend for the fiscal second quarter will be 20 yen per share, a 1 yen increase compared to the quarterly dividend for the same period last year. The total cash dividends to be paid for the fiscal year ending March 31, 2014 are planned to be 80 yen per share, an increase of 4 yen per share from the previous fiscal year.
Consolidated Financial Results for the Fiscal 2nd Quarter and Fiscal First Half
|
|
|
2nd quarter ended Sept. 30, 2012 (3 months period) |
2nd quarter ended Sept. 30, 2013 (3 months period) |
Difference |
Fiscal first half ended Sept. 30, 2012 (6 months period) |
Fiscal first half ended Sept. 30, 2013 (6 months period) |
Difference |
|
Honda Group Unit Sales*2 (million units) |
Motorcycles*4 |
3.806 |
4.216 |
+ 0.410 |
7.717 |
8.270 |
+ 0.553 |
|
Automobiles*5 |
0.996 |
1.047 |
+ 0.051 |
1.995 |
2.046 |
+ 0.051 |
|
|
Power Products |
1.288 |
1.295 |
+ 0.007 |
2.913 |
2.884 |
- 0.029 |
|
|
Consolidated Unit Sales*3 (million units) |
Motorcycles*4 |
2.304 |
2.585 |
+ 0.281 |
4.670 |
4.956 |
+ 0.286 |
|
Automobiles*5 |
0.816 |
0.869 |
+ 0.053 |
1.665 |
1.727 |
+ 0.062 |
|
|
Power Products |
1.288 |
1.295 |
+ 0.007 |
2.913 |
2.884 |
- 0.029 |
|
|
Financial Results (billion yen) |
Net sales and other operating revenue |
2,271.2 |
2,890.2 |
+ 618.9 |
4,707.1 |
5,724.3 |
+ 1,017.1 |
|
Operating income |
100.8 |
171.4 |
+ 70.5 |
276.8 |
356.4 |
+ 79.5 |
|
|
Income before income taxes |
106.2 |
165.5 |
+ 59.3 |
301.0 |
337.6 |
+ 36.5 |
|
|
Equity in income of affiliates |
27.4 |
31.6 |
+ 4.1 |
48.2 |
63.4 |
+ 15.2 |
|
|
Net income*1 |
82.2 |
120.3 |
+ 38.1 |
213.9 |
242.8 |
+ 28.9 |
|
|
Quarterly dividend per share (yen) |
19 |
20 |
+ 1 |
38 |
40 |
+ 2 |
|
|
Honda’s Average Rate (yen) |
USD = |
79 |
99 |
Down by 20 yen |
79 |
99 |
Down by 20 yen |
|
EUR = |
98 |
131 |
Down by 33 yen |
101 |
130 |
Down by 29 yen |
|
Forecasts for the Fiscal Year ending March 31, 2014 (FY14)
|
|
|
FY13 results |
Previously announced FY14 forecasts (2013/7/31)*6 |
Revised FY14 forecasts (2013/10/30) |
Difference compared to FY13 results |
Difference compared to previously announced forecasts |
|
Honda Group Unit sales*2 (million units) |
Motorcycles |
15.494 |
17.400 |
17.320 |
+ 1.826 |
- 0.080 |
|
Automobiles*5 |
4.014 |
4.430 |
4.430 |
+ 0.416 |
‐ |
|
|
Power Products |
6.071 |
6.200 |
6.000 |
-0.071 |
- 0.200 |
|
|
Consolidated Unit Sales*3 (million units) |
Motorcycles |
9.510 |
11.000 |
10.650 |
+ 1.140 |
- 0.350 |
|
Automobiles*5 |
3.408 |
3.670 |
3.670 |
+ 0.262 |
‐ |
|
|
Power Products |
6.071 |
6.200 |
6.000 |
- 0.071 |
- 0.200 |
|
|
Financial Results/ Forecasts (billion yen) |
Net sales and other operating revenue |
9,877.9 |
12,100.0 |
12,100.0 |
+ 2,222.0 |
‐ |
|
Operating income |
544.8 |
780.0 |
780.0 |
+ 235.1 |
‐ |
|
|
Income before income taxes |
488.8 |
780.0 |
765.0 |
+ 276.1 |
- 15.0 |
|
|
Equity in income of affiliates |
82.7 |
115.0 |
130.0 |
+ 47.2 |
+ 15.0 |
|
|
Net income*1 |
367.1 |
580.0 |
580.0 |
+ 212.8 |
‐ |
|
|
Annual dividend per share (yen) |
76 |
80 |
80 |
+ 4 |
‐ |
|
|
Honda’s Average Rate (yen) |
USD = |
84 |
96 |
97 |
Down by 13 yen |
Down by 1 yen |
|
EUR = |
108 |
126 |
127 |
Down by 19 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 2nd quarter ended September 30, 2012 and 2013 are 30 thousand units and 28 thousand units, respectively.Honda Group Unit Sales and Consolidated Unit Sales of ATVs included in motorcycle business for the fiscal first half ended September 30, 2012 and 2013 are 59 thousand units and 49 thousand units, respectively. Corrections were made to Honda Group Unit Sales and Consolidated Unit Sales results for motorcycle business during the previous fiscal second quarter (ended September 30, 2012). The corrections have been reflected to Honda Group Unit Sales and Consolidated Unit Sales results for the previous fiscal first half (ended September 30, 2012).
*5 Certain sales of automobiles that are financed with residual value type auto loans by our Japanese finance 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.
*6 Forecasts announced on July 31, 2013 were the same as the forecasts announced at the beginning of the current fiscal year (announced on April 26, 2013)
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where you can download financial results information.