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01 nov. 2017 Identifiant: 118366
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Consolidated Financial Summary for the Fiscal First Half Ended September 30, 2017

Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal first half ended September 30, 2017.

Consolidated sales revenue for the fiscal first half (April 1, 2017 through September 30, 2017) amounted to 7,489.2 billion yen, an increase of 11.2% compared to the same period last year, due primarily to an increase in sales revenue from all businesses and favorable foreign currency translation effects. 

Consolidated operating profit for the fiscal first half amounted to 422.1 billion yen, a decrease of 14.7% compared to the same period last year, due primarily to the loss related to the settlement of multidistrict class action litigation and the reverse effect from the impact of pension plan amendments in previous fiscal year. This was despite profit-increasing factors such as an increase in profit related to changes in sales volume and model mix and cost reduction efforts. 

Consolidated profit before income taxes for the fiscal first half amounted to 577.6 billion yen, an increase of 3.3% compared to the same period last year, due primarily to an increase in share of profit of investments accounted for using the equity method. 

Consolidated profit for the fiscal first half attributable to owners of the parent amounted to 381.3 billion yen, an increase of 8.4% compared to the same period last year.

Reflecting an increase in consolidated motorcycle unit sales and the favorable foreign currency effects, the following upward revisions were made to the previously announced consolidated financial forecasts for the current fiscal year (April 1, 2017 through March 31, 2018). The forecast for consolidated sales revenue was revised upward by 550.0 billion yen to 15.05 trillion yen, operating profit was revised upward by 20.0 billion yen to 745.0 billion yen, and the forecast for profit for the current fiscal year attributable to owners of the parent was revised upward by 40.0 billion yen to 585.0 billion yen.

The quarterly dividend for the fiscal second quarter will be 24 yen per share (an increase of 2 yen per share compared to the same period last year), and total dividends to be paid for the fiscal year ending March 31, 2018 are expected to be 96 yen per share (an increase of 4 yen per share compared to the previous fiscal year). 

At the board of directors meeting held today, Honda resolved the following details regarding the acquisition of its own shares:

ž Class of shares and the total number Shares of common stock, of shares to be acquired: 24 million shares (maximum)

ž Total amount of acquisition: Up to 90 billion yen 

ž Period of acquisition: From November 2, 2017 through January 31, 2018 

Moreover, striving to further enhance its capital policies, Honda decided to revise its dividend policy. Honda has always positioned shareholder return as one of the top priorities for the company management and had a policy of “the present goal is to maintain a shareholders’ return ratio of approximately 30%.” This time, Honda revised the policy to “with respect to dividends, the present goal is to realize a return ratio alone of approximately 30%.” Along with the revision of dividend policy, Honda will acquire its own shares when appropriate for the purpose of improving capital efficiency and implementing necessary capital policy in a flexible manner.

 

Consolidated Financial Results for the Fiscal First Half

 

 

 

Fiscal first half ended

Sept. 30, 2016

(6 months period)

Fiscal first half ended

Sept. 30, 2017

(6 months period)

Difference

Honda Group

Unit Sales*1

(million units)

Motorcycles

8.890

9.937

+1.047

Automobiles*3

2.431

2.559

+0.128

Power Products

2.728

2.589

-0.139

Consolidated

Unit Sales*2

(million units)

Motorcycles

5.873

6.691

+0.818

Automobiles*3

1.798

1.807

+0.009

Power Products

2.728

2.589

-0.139

Financial

Results

(billion yen)

Sales revenue

6,734.6

7,489.2

+754.5

Operating profit 

494.9

422.1

-72.7

Share of profit of investments

accounted for using the equity method

67.0

135.2

+68.1

Profit before income taxes

559.0

577.6

+18.5

Profit for the period attributable to owners of the parent

351.7

381.3

+29.5

Quarterly dividend per share (yen)

44

48

+4

Honda’s

Average

Rate (yen)

USD=

 

105

 

111

 

Down by

 6 yen

 

 

Forecasts for the Fiscal Year ending March 31, 2018 (FY18)

 

FY17 

results

Previously announced

FY18 forecasts

(2017/8/1)

Newly announced

FY18 forecasts

(2017/11/1)

Difference compared to

FY17 results 

Difference compared to previously

announced forecasts

Honda Group

Unit Sales*1

(million units)

Motorcycles 

17.661

18.770

19.180

+1.519

+0.410

Automobiles*3

5.028

5.080

5.130

+0.102

+0.050

Power Products

6.121

6.165

6.165

+0.044

-

Consolidated Unit Sales*2

(million units)

Motorcycles 

11.237

12.220

12.620

+1.383

+0.400

Automobiles*3

3.683

3.685

3.690

+0.007

+0.005

Power Products

6.121

6.165

6.165

+0.044

-

Financial

Results/

Forecasts

(billion yen)

Sales revenue 

13,999.2

14,500.0

15,050.0

+1,050.8

+550.0

Operating profit

840.7

725.0

745.0

-95.7

+20.0

Share of profit of investments accounted for using the equity method

164.7

180.0

205.0

+40.2

+25.0

Profit before income taxes

1,006.9

900.0

955.0

-51.9

+55.0

Profit for the year

attributable to owners of the parent

616.5

545.0

585.0

-31.5

+40.0

Annual dividend per share (yen)

92

96

96

+4

-

Honda’s

Average

Rate (yen)

USD=

 

108

 

107

 

109

Q3:110 yen

Q4:105 yen

Down by

1 yen

 

Down by 

2 yen

 

*1 Honda Group Unit Sales is the total unit sales of the completed products (motorcycles, ATVs, side-by-sides, automobiles, power products) of Honda, its consolidated subsidiaries and its affiliates and joint ventures accounted for using the equity method.

*2 Consolidated Unit Sales is the total unit sales of the completed products (motorcycles, ATVs, side-by-sides, automobiles, power products) corresponding to consolidated sales revenue, which consists of unit sales of completed products of Honda and its consolidated subsidiaries.

*3 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 IFRS and are not included in consolidated sales revenue to the external customers in our automobile business. Accordingly, they are not included in Consolidated Unit Sales, but are included in Honda Group Unit Sales of our automobile business.

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