HMC Honda Motor Co Ltd

TOKYO, April 28, 2017 /PRNewswire/ -- Honda Motor Co., Ltd. (NYSE: HMC) today announced its consolidated financial results for the fiscal fourth quarter and the fiscal year ended March 31, 2017.

Fourth Quarter Results

Honda's consolidated profit for the period attributable to owners of the parent for the fiscal fourth quarter ended March 31, 2017 totaled JPY 95.9 billion (USD 855 million), an increase of JPY 189.4 billion (USD 1,688 million) from the same period last year. Earnings per share attributable to owners of the parent for the quarter amounted to JPY 53.24 (USD 0.47), an increase of JPY 105.09 (USD 0.94) from loss per share attributable to owners of the parent for the corresponding period last year, when it amounted to JPY 51.85. One Honda American Depository Share represents one common share.

Consolidated sales revenue for the quarter amounted to JPY 3,763.4 billion (USD 33,545 million), an increase of 2.9% from the same period last year, due primarily to increased sales revenue in financial services business and automobile business operations.

Consolidated operating profit for the quarter amounted to JPY 138.1 billion (USD 1,231 million), an increase of JPY 201.9 billion (USD 1,800 million) from the same period last year, due primarily to decreased SG&A expenses, including quality related expenses, and continuing cost reduction efforts, despite increased R&D expenses and unfavorable foreign currency effects.

Share of profit of investments accounted for using the equity method for the quarter amounted to JPY 48.5 billion (USD 433 million) for the quarter, an increase of 479.0% from the corresponding period last year.

Consolidated profit before income taxes for the quarter totaled JPY 186.9 billion (USD 1,667 million), an increase of JPY 245.6 billion (USD 2,190 million) from the corresponding 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 112.19=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 March 31, 2017.

Forecasts for the Fiscal Year Ending March 31, 2018

In regard to the forecasts of the financial results for the fiscal year ending March 31, 2018, Honda projects consolidated results to be as shown below:

Dividend per Share of Common Stock

The Company plans to distribute year-end cash dividends of JPY 24 per share for the fiscal year ended March 31, 2017. As a result, total cash dividends for the fiscal year ended March 31, 2017, together with the first quarter cash dividends of JPY 22, the second quarter cash dividends of JPY 22 and the third quarter cash dividends of JPY 24, are planned to be JPY 92 per share. Also, please note that the year-end cash dividends for the fiscal year ended March 31, 2017 is a matter to be resolved at the ordinary general meeting of shareholders.
The Company expects to distribute quarterly cash dividends of JPY 24 per share for each quarter for the fiscal year ending March 31, 2018. As a result, total cash dividends for the fiscal year ending March 31, 2018 are expected to be JPY 96 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. The various factors for increases and decreases in profit have been classified in accordance with a method that Honda considers reasonable.

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SOURCE Honda Motor Co., Ltd.