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Honda Motor Co., Ltd. Reports Consolidated Financial Results For The Fiscal First Quarter Ended June 30, 2014

OKYO, July 29, 2014 /PRNewswire/ — Honda Motor Co., Ltd. (HMC; NYSE) today announced its consolidated financial results for the fiscal first quarter ended June 30, 2014.

First Quarter Results

Honda’s consolidated net income attributable to Honda Motor Co., Ltd. for the fiscal first quarter ended June 30, 2014 totaled JPY 146.5 billion (USD 1,445 million), an increase of 19.6% from the same period last year. Basic net income attributable to Honda Motor Co., Ltd. per common share for the quarter amounted to JPY 81.29(USD 0.80), an increase of JPY 13.32(USD 0.13) from JPY 67.97 for the corresponding period last year. One Honda American Depository Share represents one common share.

Consolidated net sales and other operating revenue (herein referred to as “revenue”) for the quarter amounted to JPY 2,988.2 billion (USD 29,482 million), an increase of 5.4% from the same period last year, due primarily to increased revenue in automobile and motorcycle business operations, as well as favorable foreign currency translation effects.

Consolidated operating income for the quarter amounted to JPY 198.0 billion (USD 1,954 million), an increase of 7.1% from the same period last year, due primarily to continuing cost reduction efforts and an increase in sales volume and model mix, despite increased SG&A expenses as well as unfavorable foreign currency effects.

Consolidated income before income taxes and equity in income of affiliates for the quarter totaled JPY 198.8 billion (USD 1,961 million), an increase of 15.6% from the same period last year.

Equity in income of affiliates amounted to JPY 38.5 billion (USD 381 million) for the quarter, an increase of 21.5% from the corresponding period last year.

Business Segment

In motorcycle business operations, revenue increased 2.7%, to JPY 407.7 billion (USD 4,023 million) from the same period last year. Operating income totaled JPY 43.9 billion (USD 434 million), an increase of 3.3% from the same period last year.

In automobile business operations, revenue increased 5.6%, to JPY 2,319.5 billion (USD 22,885 million) from the same period last year. Operating income totaled JPY 99.8 billion (USD 985 million), an increase of 3.6% from the same period last year.

In financial services business operations, revenue increased 12.9%, to JPY 186.7 billion (USD 1,842 million) from the same period last year. Operating income increased 16.1% to JPY 51.8 billion (USD 511 million) from the same period last year.

In power product and other business operations, revenue decreased 1.3%, to JPY 74.2 billion (USD 732 million) from the same period last year. Operating income increased 75.5% to JPY 2.3 billion (USD 24 million) from the same period last year.

Explanatory note: United States dollar amounts have been translated from yen solely for the convenience of the reader at the rate of JPY 101.36=USD 1, the mean of the telegraphic transfer selling exchange rate and the telegraphic transfer buying exchange rate prevailing on the Tokyo foreign exchange market on June 30, 2014.

Forecasts for the Fiscal Year Ending March 31, 2015

In regard to the forecasts of the financial results for the fiscal year ending March 31, 2015, Honda projects consolidated results to be as shown below:

Fiscal year ending March 31, 2015

Yen (billions)
Net sales and other operating revenue 12,800.0 + 8.1%
Operating income 770.0 + 2.6%
Net income attributable to Honda Motor Co., Ltd. 600.0 + 4.5%
Basic net income attributable to Honda Motor Co., Ltd. per common share 332.91

Dividend per Share of Common Stock for fiscal year 2015

The Board of Directors of Honda Motor Co., Ltd., at its meeting held on July 29, 2014, resolved to make the quarterly dividend JPY 22 per share of common stock, the record date of which is June 30, 2014. The total expected annual dividend per share of common stock for the fiscal year ending March 31, 2015, is JPY 88 per share.

This announcement contains “forward-looking statements” as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based on management’s assumptions and beliefs taking into account information currently available to it. Therefore, please be advised that Honda’s actual results could differ materially from those described in these forward-looking statements as a result of numerous factors, including general economic conditions in Honda’s principal markets and foreign exchange rates between the Japanese yen and the U.S. dollar, the Euro and other major currencies, as well as other factors detailed from time to time.

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