TOKYO, Feb. 3, 2017 /PRNewswire/ -- Honda Motor Co., Ltd. (NYSE: HMC) today announced its consolidated financial results for the fiscal third quarter ended December 31, 2016.

Third Quarter Results

Honda's consolidated profit for the period attributable to owners of the parent for the fiscal third quarter ended December 31, 2016 totaled JPY 168.8 billion (USD 1,449 million), an increase of 35.9% from the same period last year. Earnings per share attributable to owners of the parent for the quarter amounted to JPY 93.67 (USD 0.80), an increase of JPY 24.76 (USD 0.21) from JPY 68.91 for the corresponding period last year. One Honda American Depository Share represents one common share.

Consolidated sales revenue for the quarter amounted to JPY 3,501.0 billion (USD 30,055 million), a decrease of 3.2% 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 207.6 billion (USD 1,783 million), an increase of 27.4% from the same period last year, due primarily to decreased SG&A expenses, including quality related expenses and continuing cost reduction efforts, despite unfavorable foreign currency effects.

Share of profit of investments accounted for using the equity method for the quarter amounted to JPY 49.1 billion (USD 422 million), an increase of 8.9% from the corresponding period last year.

Consolidated profit before income taxes for the quarter totaled JPY 260.9 billion (USD 2,240 million), an increase of 29.9% from the same period last year.

Business Segment

In motorcycle business operations, sales revenue decreased 4.9%, to JPY 420.6 billion (USD 3,611 million) from the same period last year. Operating profit totaled JPY 41.8 billion (USD 359 million), a decrease of 15.4% from the same period last year.

In automobile business operations, sales revenue decreased 3.7%, to JPY 2,555.1 billion (USD 21,934 million) from the same period last year. Operating profit totaled JPY 129.8 billion (USD 1,115 million), an increase of 86.6% from the same period last year.

In financial services business operations, sales revenue increased 1.8%, to JPY 452.5 billion (USD 3,884 million) from the same period last year. Operating profit decreased 17.7% to JPY 42.3 billion (USD 364 million) from the same period last year.

In power product and other businesses operations, sales revenue decreased 6.6%, to JPY 72.8 billion (USD 625 million) from the same period last year. Honda reported an operating loss of JPY 6.3 billion (USD 55 million), an improvement of JPY 1.1 billion (USD 10 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 116.49=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 December 31, 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

13,800.0

-5.5%




Operating profit

785.0

+55.9%




Profit before income taxes

925.0

+45.6%




Profit for the year attributable to
owners of the parent

545.0

+58.2%





Yen





Earnings per share attributable to
owners of the parent

302.39


          Basic and diluted



 

Dividend per Share of Common Stock

The Board of Directors of Honda Motor Co., Ltd., at its meeting held on February 3, 2017, resolved to make the quarterly dividend JPY 24 per share of common stock, the record date of which is December 31, 2016. The total expected annual dividend per share of common stock for the fiscal year ending March 31, 2017, is JPY 92 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.

For Additional Information, please visit;
http://world.honda.com/investors/library/financialresult/

 

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SOURCE Honda Motor Co., Ltd.

Copyright 2017 PR Newswire

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