TOKYO, Oct. 31, 2016 /PRNewswire/ -- Honda Motor
Co., Ltd. (HMC; NYSE) today announced its consolidated financial
results for the fiscal second quarter ended September 30, 2016.
Second Quarter Results
Honda's consolidated profit for the period attributable to
owners of the parent for the fiscal second quarter ended
September 30, 2016 totaled
JPY 177.0 billion (USD 1,751 million), an increase of 38.6% from the
same period last year. Earnings per share attributable to owners of
the parent for the quarter amounted to JPY
98.26 (USD 0.97), an increase
of JPY 27.38 (USD 0.27) from JPY
70.88 for the corresponding period last year. One Honda
American Depository Share represents one common share.
Consolidated sales revenue for the quarter amounted to
JPY 3,262.9 billion (USD 32,268 million), a decrease of 9.9% from the
same period last year, due primarily to unfavorable foreign
currency translation effects, despite increased revenue in
automobile business, financial services business and motorcycle
business operations.
Consolidated operating profit for the quarter amounted to
JPY 228.0 billion (USD 2,256 million), an increase of 38.4% from the
same period last year, due primarily to continuing cost reduction
efforts, decreased SG&A expenses, including quality related
expenses, and the impact of pension accounting treatment, despite
unfavorable foreign currency effects.
Share of profit of investments accounted for using the equity
method for the quarter amounted to JPY 39.8
billion (USD 394 million), an
increase of 16.6% from the corresponding period last year.
Consolidated profit before income taxes for the quarter totaled
JPY 270.5 billion (USD 2,676 million), an increase of 28.3% from the
same period last year.
Business Segment
In motorcycle business operations, sales revenue decreased 9.7%,
to JPY 409.3 billion (USD 4,048 million) from the same period last
year. Operating profit totaled JPY 59.5
billion (USD 589 million), an
increase of 21.3% from the same period last year.
In automobile business operations, sales revenue decreased
10.7%, to JPY 2,341.6 billion
(USD 23,157 million) from the same
period last year. Operating profit totaled JPY 131.8 billion (USD
1,304 million), an increase of 94.5% from the same period
last year.
In financial services business operations, sales revenue
decreased 4.1%, to JPY 443.2 billion
(USD 4,383 million) from the same
period last year. Operating profit decreased 27.2% to JPY 37.7 billion (USD 374
million) from the same period last year.
In power product and other businesses operations, sales revenue
decreased 18.5%, to JPY 68.7 billion
(USD 680 million) from the same
period last year. Honda reported an operating loss of JPY 1.0 billion (USD 10
million), an improvement of JPY 2.8
billion (USD 28 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
101.12=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 September 30, 2016.
Forecasts for the Fiscal Year Ending March 31, 2017
In regard to the forecasts of the financial results for the
fiscal year ending March 31, 2017,
Honda projects consolidated results to be as shown below:
Fiscal year ending March 31,
2017
|
Yen
(billions)
|
Changes from FY
2016
|
Sales
revenue
|
13,400.0
|
-8.2%
|
Operating
profit
|
650.0
|
+29.1%
|
Profit before income
taxes
|
770.0
|
+21.2%
|
Profit for the year
attributable to owners of the parent
|
415.0
|
+20.5%
|
|
Yen
|
|
Earnings per share
attributable to owners of the parent
Basic and
diluted
|
230.26
|
|
Dividend per Share of Common Stock
The Board of Directors of Honda Motor Co., Ltd., at its meeting
held on October 31, 2016, resolved to
make the quarterly dividend JPY 22
per share of common stock, the record date of which is September 30, 2016. The total expected annual
dividend per share of common stock for the fiscal year ending
March 31, 2017, 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 the actual results of the Company
could differ materially from those described in these
forward-looking statements as a result of numerous factors,
including general economic conditions in the principal markets of
the Company, its consolidated subsidiaries and its affiliates
accounted for by the equity-method, and fluctuation of foreign
exchange rates, as well as other factors detailed from time to
time.
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SOURCE Honda Motor Co., Ltd.