News Release
31 Jan 2014 ID: 3463
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Consolidated Financial Summary for the Fiscal 3rd Quarter ended December 31, 2013

TOKYO, Japan, January 31, 2014 – Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal third quarter ended December 31, 2013.

 

Consolidated operating income for the fiscal third quarter (October 1, 2013 through December 31, 2013) amounted to 228.5 billion yen, an increase of 73.2 % compared to the same period last year, primarily due to an increase of sales with the positive effect of new model introduction in automobile sales in Japan, North America and Asia, and in motorcycle sales in Asia, and the positive effect of cost reduction and favorable currency effects associated with the depreciation of the Japanese yen.

 

Consolidated operating income for the fiscal nine months (April 1, 2013 through December 31, 2013) amounted to 584.9 billion yen, an increase of 43.1% compared to the same period last year, and consolidated net income*1 amounted to 403.5 billion yen, an increase of 38.5% compared to the same period last year.

 

Despite favorable currency effects associated with depreciation of the Japanese yen, the previously announced forecasts for consolidated net sales and other operating revenue and consolidated operating income for the current fiscal year ending March 31, 2014 – 12.1 trillion yen and 780 billion yen, respectively – will remain unchanged in light of the anticipated decrease in automobile and motorcycle sales under challenging market conditions mainly in emerging countries. The previously announced forecast for consolidated net income*1 for the current fiscal year – 580 billion yen – 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 third quarter will be 20 yen per share, a 1 yen increase compared to the quarterly dividend for the same period last year. The forecasted total cash dividends to be paid for the fiscal year ending March 31, 2014 are 80 yen per share, an increase of 4 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, 2012

(3 months

period)

3rd quarter

ended

Dec. 31, 2013

(3 months period)

Difference

Fiscal

9 months    ended

Dec. 31, 2012

(9 months period)

Fiscal

9 months    ended

Dec. 31, 2013

(9 months period)

Difference

Honda Group

Unit Sales*2

(million units)

Motorcycles*4

3.815

4.251

+ 0.436

11.532

12.521

+ 0.989

Automobiles*5

0.986

1.082

+ 0.096

2.981

3.128

+ 0.147

Power Products

1.195

1.162

- 0.033

4.108

4.046

- 0.062

Consolidated

Unit Sales*3

(million units)

Motorcycles*4

2.350

2.657

+ 0.307

7.020

7.613

+ 0.593

Automobiles*5

0.841

0.900

+ 0.059

2.506

2.627

+ 0.121

Power Products

1.195

1.162

- 0.033

4.108

4.046

- 0.062

Financial

Results

(billion yen)

Net sales and other operating revenue

2,425.7

3,020.8

+ 595.0

7,132.9

8,745.2

+1,612.2

Operating income

131.9

228.5

+ 96.6

408.8

584.9

+ 176.1

Income before

Income taxes

89.7

216.6

+ 126.8

390.8

554.2

+ 163.4

Equity in income

of affiliates

21.4

31.6

+ 10.2

69.6

95.0

+ 25.4

Net income*1

77.4

160.7

+ 83.2

291.3

403.5

+ 112.2

Quarterly dividend per share (yen)

19

20

+ 1

57

60

+ 3

Honda’s

average

rate (yen)

USD =

81

100

Down by 19 yen

80

99

Down by 19 yen

EUR =

106

139

Down by 33 yen

103

134

Down by 31 yen

 

Forecasts for the Fiscal Year ending March 31, 2014 (FY14)

 

 

 

FY13 results

Previously announced

FY14 forecasts

(2013/10/30)

Revised

FY14 forecasts

(2014/1/31)

Difference compared to FY13 results

Difference compared to previously announced   forecasts

Honda Group

Unit sales*2

(million   units)

Motorcycles

15.494

17.320

17.095

+ 1.601

- 0.225

Automobiles*5

4.014

4.430

4.385

+ 0.371

-   0.045

Power Products

6.071

6.000

6.050

- 0.021

+   0.050

Consolidated

Unit Sales*3

(million units)

Motorcycles

9.510

10.650

10.410

+ 0.900

-   0.240

Automobiles*5

3.408

3.670

3.620

+ 0.212

-   0.050

Power Products

6.071

6.000

6.050

- 0.021

+   0.050

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

765.0

755.0

+ 266.1

- 10.0

Equity in income

of affiliates

82.7

130.0

140.0

+ 57.2

+   10.0

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

97

100

Down by 16 yen

Down   by 3

 yen

EUR =

108

127

134

Down by 26 yen

Down   by 7

 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, 2012 and 2013 are 30 thousand units and 33 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, 2012 and 2013 are 89 thousand units and 82 thousand units, respectively.

 

*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.

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