In the news release, Consolidated Financial Summary for the
Fiscal 4th Quarter and the Fiscal Year Ended March 31, 2020, issued 12-May-2020 by Honda Motor Co., Ltd. over PR
Newswire, we are advised by the company that the source for the
release was listed incorrectly. The source of the release should be
"Honda Motor Co., Ltd." rather than "American Honda" as originally
issued inadvertently. The complete, corrected release follows:
Consolidated Financial Summary for the Fiscal 4th Quarter and the
Fiscal Year Ended March 31, 2020
TOKYO, May 12, 2020 /PRNewswire/ -- Honda Motor
Co., Ltd. (NYSE: HMC) announced its consolidated financial results
for the fiscal fourth quarter and the fiscal year ended
March 31, 2020.
The spread of COVID-19 pandemic has stagnated both consumer
spending and the economic activities of businesses on a global
basis, and future prospects remain uncertain at this moment. Amid
such circumstances, production, sales and other Honda business
activities are being impacted in all regions, and consolidated
financial results for the fiscal fourth quarter and the fiscal year
ended March 31, 2020 stated below
reflects such impact.
Consolidated sales revenue for the fiscal fourth quarter
(January 1, 2020 through March 31, 2020) amounted to 3,458.0 billion yen, a decrease of 14.6% compared
to the same period last year, due primarily to a decrease in sales
revenue from automobile business. This was despite an increase in
sales revenue from financial services business and other
factors.
Consolidated operating profit for the fiscal fourth quarter
amounted to - 5.6 billion yen
(operating loss), a decrease of 47.9 billion
yen compared to the same period last year, due primarily to
a decrease in profit related to changes in sales revenue and model
mix. This was despite the fact that operating profit from
motorcycle business during the fiscal fourth quarter experienced a
year-on-year increase due primarily to continuing cost reduction
and a decrease in selling, general and administrative (SG&A)
expenses.
Consolidated operating profit for the fiscal fourth quarter
excluding currency effects, one-time issues and the impact of the
spread of COVID-19 pandemic can be estimated to be a year-on-year
increase of 32.4 billion yen.
One-time issues include the impact of changes being made to
automobile production operations. The impact of the spread of
COVID-19 pandemic includes a decrease in unit sales, an increase in
provision for sales incentives and an increase in provision for
credit losses for financial services business.
Consolidated sales revenue for the fiscal year (April 1, 2019 through March 31, 2020) amounted to 14,931.0 billion yen, a decrease of 6.0% compared
to the previous fiscal year, due primarily to a decrease in sales
revenue from automobile business and negative foreign currency
translation effects. This was despite an increase in sales revenue
from financial services business and other factors.
Consolidated operating profit for the fiscal year amounted to
633.6 billion yen, a decrease of
12.8% compared to the previous fiscal year, due primarily to a
decrease in profit related to changes in sales revenue and model
mix and negative currency effects. This was despite continuing cost
reduction and a decrease in SG&A expenses.
Consolidated profit before income taxes for the fiscal year
amounted to 789.9 billion yen, a
decrease of 19.3% compared to the previous fiscal year.
Consolidated profit for the fiscal year attributable to owners of
the parent amounted to 455.7 billion
yen, a decrease of 25.3% compared to the previous fiscal
year.
Consolidated operating profit for the fiscal year in real terms,
excluding currency effects, one-time issues and the impact of the
spread of COVID-19 pandemic can be estimated to be a year-on-year
increase of 100.8 billion yen.
The quarterly dividend for the fiscal fourth quarter will be
28 yen per share, and the total
dividends to be paid for the fiscal year ended March 31, 2020 will be 112
yen per share, an increase of 1
yen per share compared to the previous fiscal year.
Consolidated
Financial Results for the Fiscal 4th Quarter Ended March 31,
2020
|
|
|
4th
quarter
ended
Mar. 31,
2018
(3 months
period)
|
4th
quarter
ended
Mar. 31,
2019
(3 months
period)
|
Difference
|
Honda
Group
Unit
Sales*1
(million
units)
|
Motorcycles
|
4.558
|
4.302
|
- 0.256
|
Automobiles*3
|
1.364
|
0.981
|
- 0.383
|
Life
Creation*4
|
2.347
|
2.071
|
- 0.276
|
Consolidated
Unit
Sales*2
(million
units)
|
Motorcycles
|
2.837
|
2.694
|
- 0.143
|
Automobiles*3
|
0.979
|
0.777
|
- 0.202
|
Life
Creation*4
|
2.347
|
2.071
|
- 0.276
|
Financial
Results
(billion
yen)
|
Sales
revenue
|
4,049.1
|
3,458.0
|
- 591.0
|
Operating
profit
|
42.3
|
-5.6
|
- 47.9
|
Share of profit of
investments
accounted for using the equity
method
|
59.1
|
14.4
|
- 44.7
|
Profit before income
taxes
|
111.1
|
3.7
|
- 107.3
|
Profit for the
period
attributable to
owners of the
parent
|
-13.0
|
-29.5
|
- 16.5
|
Quarterly dividend
per share (yen)
|
28
|
28
|
-
|
Honda's
Average
Rate (yen)
|
USD=
|
110
|
109
|
Up by 1 yen
|
|
|
|
|
Consolidated
Financial Results for the Fiscal Year Ended March 31, 2020
(FY20)
|
|
|
FY19
results
|
Previously
announced
FY20
forecasts
(Feb. 7,
2020)
|
FY20
results
|
Difference
compared to
FY19 results
|
Difference
compared to
previously
announced
forecasts
|
Honda
Group
Unit
Sales*1
(million
units)
|
Motorcycles
|
20.238
|
19.900
|
19.340
|
- 0.898
|
-0.560
|
Automobiles*3
|
5.323
|
4.980
|
4.790
|
- 0.533
|
-0.190
|
Life
Creation*4
|
6.301
|
6.000
|
5.701
|
- 0.600
|
-0.299
|
Consolidated
Unit
Sales*2
(million
units)
|
Motorcycles
|
13.215
|
12.880
|
12.426
|
- 0.789
|
-0.454
|
Automobiles*3
|
3.748
|
3.365
|
3.318
|
- 0.430
|
-0.047
|
Life
Creation*4
|
6.301
|
6.000
|
5.701
|
- 0.600
|
-0.299
|
Financial
Results
(billion
yen)
|
Sales
revenue
|
15,888.6
|
15,150.0
|
14,931.0
|
- 957.6
|
- 218.9
|
Operating
profit
|
726.3
|
730.0
|
633.6
|
- 92.7
|
- 96.3
|
Share of profit
of
investments accounted for
using the equity method
|
228.8
|
210.0
|
164.2
|
- 64.6
|
- 45.7
|
Profit before income
taxes
|
979.3
|
940.0
|
789.9
|
- 189.4
|
- 150.0
|
Profit for the
year
attributable to
owners of the
parent
|
610.3
|
595.0
|
455.7
|
- 154.5
|
- 139.2
|
Annual dividend per
share (yen)
|
111
|
112
|
112
|
Up by
1 yen
|
-
|
Honda's
Average
Rate (yen)
|
USD=
|
111
|
108
|
109
|
Up by
2 yen
|
Down
by 1 yen
|
|
|
|
|
|
|
Forecasts for the Fiscal Year Ending March 31, 2021 (FY21)
Honda is currently unable to provide a reasonably calculated
forecast of the consolidated financial results for the fiscal year
ending March 31, 2021, due to impacts
relating to the spread of COVID-19. Honda will provide the
forecasts of the consolidated financial results for the fiscal year
as soon as they become available.
For more details, please check the Investor Relations section of
Honda website:
https://www.honda.co.jp/investors/library/financialresult.html (Japanese)
https://global.honda/investors/library/financialresult.html
(English)
*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.
*4 Power Products business was renamed as Life Creation business
as of April 1, 2019
For Additional Information, please visit;
https://global.honda/investors/library/financialresult.html
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SOURCE Honda Motor Co., Ltd.