Honda Motor Co., Ltd. (HMC:NYSE) announced its Consolidated Financial Summary for the Fiscal Year Ended March 31, 2022 and Forecasts for the Fiscal Year Ending March 31, 2023
May 13 2022 - 5:18AM
PR Newswire (US)
TOKYO, May 13, 2022
/PRNewswire/ --
- Despite certain unfavorable factors such as the resurgence of
COVID-19, a decrease in automobile unit sales due to the
semiconductor supply shortage and an increase in the cost of raw
materials, consolidated operating profit for the fiscal year
amounted to 871.2 billion yen, a
year-on-year increase by 211.0 billion
yen, due primarily to success in reducing costs and
controlling incentives, and favorable currency effects.
- Consolidated profit for the year attributable to owners of the
parent amounted to 707.0 billion yen,
a year-on-year increase of 49.6 billion
yen.
- For the fiscal year ending March 31,
2023 (FY23), despite the projected increase of sales volume
and favorable currency effects, Honda is expecting that the
external business environment will remain challenging including a
further increase in cost. Honda will continue its comprehensive
efforts to improve profitability and plans to achieve consolidated
operating profit of 810 billion yen
for the fiscal year.
- The forecast for profit for the fiscal year (FY23) attributable
to owners of the parent is 710 billion
yen, a year-on-year increase by 2.9
billion yen, due partly to an increase in the share of
profit from investments accounted for using the equity method.
- The year-end dividend will be 65
yen per share; total dividends to be paid for the fiscal
year ended March 31, 2022 (FY22) will
be 120 yen per share, an increase by
10 yen per share compared to the
previously announced forecast.
- The forecast for total dividends to be paid for the fiscal year
ending March 31, 2023 (FY23) is
120 yen per share, equivalent to
FY22.
I. Consolidated financial summary and
business-by-business results for the fiscal year ended March 31, 2022 (FY22)
- Sales revenue: 14,552.6 billion
yen (a year-on-year increase of 10.5%)
Increase due to higher sales revenue from all businesses.
- Operating profit: 871.2 billion
yen (a year-on-year increase of 32.0%)
- Profit for the fiscal year attributable to owners of the
parent: 707.0 billion yen (a
year-on-year increase of 7.6%)
1) Motorcycle business
- Sales revenue: 2,185.2 billion
yen (a year-on-year increase of 22.3%)
Increase due primarily to a sales increase in Brazil.
- Operating profit: 311.4 billion
yen (a year-on-year increase of 38.7%).
Increase due primarily to an increase in profit related to
favorable sales factors.
2) Automobile business
- Sales revenue: 9,360.5 billion
yen (a year-on-year increase of 6.6%)
Although sales decreased mainly in North
America, sales revenue experienced a year-on-year increase
due primarily to an increase in sales in Asia and favorable currency effects.
- Operating profit: 236.2 billion
yen (a year-on-year increase of 161.7%)
Increase due primarily to control of expenses.
Combined with operating profit from financial services business
related to automobile sales, the estimated operating profit for
automobile business is 557.2 billion
yen.
3) Financial Services business
- Operating profit: 333.0 billion
yen (a year-on-year decrease of 6.7%)
Decrease due primarily to a year-on-year difference in the amount
of the provision for credit losses recorded.
4) Life Creation (power products) and Other
businesses
- Operating loss: 9.4 billion
yen (a year-on-year improvement of 2.1 billion yen)
Aircraft/aircraft engine business, which is included in "Other
businesses," accounted for an operating loss of 33.7 billion yen.
II. Forecasts for the Fiscal Year Ending
March 31, 2023 (FY23)
- Sales revenue: 16,250 billion
yen (a year-on-year increase of 11.7%)
- Operating profit: 810 billion
yen (a year-on-year decrease of 7.0%)
- Profit for the fiscal year attributable to owners of the
parent: 710 billion yen (a
year-on-year increase of 0.4%)
Consolidated
Financial Results for the Fiscal Year Ended March 31, 2022
(FY22)
|
|
|
|
FY21
results
|
FY22
results
|
Difference compared
to
FY21 results
|
Honda Group
Unit
Sales*1
(million
units)
|
Motorcycles
|
15.132
|
17.027
|
+1.895
|
Automobiles*3
|
4.546
|
4.074
|
-0.472
|
Life
Creation
|
5.623
|
6.200
|
+0.577
|
Consolidated
Unit
Sales*2
(million
units)
|
Motorcycles
|
10.264
|
10.721
|
+0.457
|
Automobiles*3
|
2.617
|
2.424
|
-0.193
|
Life
Creation
|
5.623
|
6.200
|
+0.577
|
Financial
Results
(billion
yen)
|
Sales
revenue
|
13,170.5
|
14,552.6
|
+1,382.1
|
Operating
profit
|
660.2
|
871.2
|
+211.0
|
Share of profit of
investments
accounted for using the equity
method
|
272.7
|
202.5
|
-70.2
|
Profit before income
taxes
|
914.0
|
1,070.1
|
+156.1
|
Profit for the
year
attributable to owners
of the
parent
|
657.4
|
707.0
|
+49.6
|
Annual dividend per
share (yen)
|
110
|
120
|
+10
|
Honda's
Average Rate
(yen)
|
USD=
|
106
|
112
|
JPY depreciated
against the USD
by 6 yen/dollar
|
Forecasts for the
Fiscal Year Ending March 31, 2023 (FY23)
|
|
|
|
FY22
results
|
FY23
forecasts
|
Difference
compared to
FY22 results
|
Honda Group
Unit
Sales*1
(million
units)
|
Motorcycles
|
17.027
|
18.560
|
+1.533
|
Automobiles*3
|
4.074
|
4.200
|
+0.126
|
Power
Products*4
|
6.200
|
5.665
|
-0.535
|
Consolidated
Unit
Sales*2
(million
units)
|
Motorcycles
|
10.721
|
11.660
|
+0.939
|
Automobiles*3
|
2.424
|
2.520
|
+0.096
|
Power
Products*4
|
6.200
|
5.665
|
-0.535
|
Financial
Results/
Forecasts
(billion
yen)
|
Sales
revenue
|
14,552.6
|
16,250.0
|
+1,697.3
|
Operating
profit
|
871.2
|
810.0
|
-61.2
|
Share of profit of
investments
accounted for using
the
equity method
|
202.5
|
230.0
|
+27.4
|
Profit before income
taxes
|
1,070.1
|
1,035.0
|
-35.1
|
Profit for the
year
attributable to owners
of the
parent
|
707.0
|
710.0
|
+2.9
|
Annual dividend per
share (yen)
|
120
|
120
|
―
|
Honda's
Average
Rate (yen)
|
USD=
|
112
|
120
|
JPY depreciated
against the USD
by 8 yen/dollar
|
<Supplemental
data> Consolidated Financial Results for the Fiscal
4th Quarter Ended March 31, 2022 (FY22)
|
|
|
|
4th quarter
ended
March 31,
2021
(3 months
period)
|
4th quarter
ended
March 31,
2022
(3 months
period)
|
Difference
|
Honda Group
Unit
Sales*1
(million
units)
|
Motorcycles
|
4.541
|
4.252
|
-0.289
|
Automobiles*3
|
1.121
|
1.074
|
-0.047
|
Life
Creation
|
1.768
|
1.700
|
-0.068
|
Consolidated
Unit
Sales*2
(million
units)
|
Motorcycles
|
3.001
|
2.757
|
-0.244
|
Automobiles*3
|
0.718
|
0.632
|
-0.086
|
Life
Creation
|
1.768
|
1.700
|
-0.068
|
Financial
Results
(billion
yen)
|
Sales
revenue
|
3,623.8
|
3,875.6
|
+251.8
|
Operating
profit
|
213.2
|
199.5
|
-13.6
|
Share of profit of
investments
accounted for using the equity
method
|
68.1
|
45.4
|
-22.6
|
Profit before income
taxes
|
255.3
|
224.9
|
-30.3
|
Profit for the
period
attributable to owners
of the
parent
|
213.3
|
124.8
|
-88.4
|
Honda's
Average
Rate (yen)
|
USD=
|
106
|
116
|
JPY depreciated
against the USD
by 10 yen/dollar
|
|
|
*1
|
Honda Group Unit Sales
is the total unit sales of 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 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 provided 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
|
Life creation business
has been renamed Power product business effective April 1,
2022.
|
For Additional Information, please visit:
https://global.honda/investors/library/financialresult.html
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SOURCE Honda Motor Co., Ltd.
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