Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)


	Yen (millions)
	Mar. 31, 2022			Sep. 30, 2022
Assets
Current assets:
Cash and cash equivalents		3,674,931			3,935,348
Trade receivables		896,768			912,679
Receivables from financial services		1,694,113			1,881,825
Other financial assets		217,743			263,709
Inventories		1,918,548			2,265,163
Other current assets		439,322			435,975

Total current assets		8,841,425			9,694,699

Non-current assets:
Investments accounted for using the equity method		967,404			1,118,036
Receivables from financial services		3,740,383			4,038,736
Other financial assets		819,654			931,357
Equipment on operating leases		5,159,129			5,314,541
Property, plant and equipment		3,079,407			3,287,862
Intangible assets		849,507			869,798
Deferred tax assets		91,592			98,920
Other non-current assets		424,652			473,944

Total non-current assets		15,131,728			16,133,194

Total assets		23,973,153			25,827,893

Liabilities and Equity
Current liabilities:
Trade payables		1,236,233			1,295,080
Financing liabilities		3,118,304			3,524,876
Accrued expenses		375,601			341,137
Other financial liabilities		236,900			490,582
Income taxes payable		96,116			77,458
Provisions		268,388			287,019
Other current liabilities		672,857			731,657

Total current liabilities		6,004,399			6,747,809

Non-current liabilities:
Financing liabilities		4,984,252			4,768,693
Other financial liabilities		282,083			285,992
Retirement benefit liabilities		282,054			317,975
Provisions		253,625			265,801
Deferred tax liabilities		990,754			1,086,498
Other non-current liabilities		403,440			444,265

Total non-current liabilities		7,196,208			7,169,224

Total liabilities		13,200,607			13,917,033

Equity:
Common stock		86,067			86,067
Capital surplus		185,495			185,453
Treasury stock		(328,309	)		(357,050	)
Retained earnings		9,539,133			9,766,346
Other components of equity		990,438			1,928,850

Equity attributable to owners of the parent		10,472,824			11,609,666
Non-controlling interests		299,722			301,194

Total equity		10,772,546			11,910,860

Total liabilities and equity		23,973,153			25,827,893

—2—


	Yen (millions)
	Six months ended Sep. 30, 2021			Six months ended Sep. 30, 2022
Sales revenue		6,988,228			8,085,304
Operating costs and expenses:
Cost of sales		(5,561,775	)		(6,505,911	)
Selling, general and administrative		(625,603	)		(744,778	)
Research and development		(358,654	)		(381,163	)

Total operating costs and expenses		(6,546,032	)		(7,631,852	)

Operating profit		442,196			453,452

Share of profit of investments accounted for using the equity method		107,246			82,946
Finance income and finance costs:
Interest income		11,080			25,025
Interest expense		(6,428	)		(15,650	)
Other, net		6,302			(29,942	)

Total finance income and finance costs		10,954			(20,567	)

Profit before income taxes		560,396			515,831
Income tax expense		(151,795	)		(147,092	)

Profit for the period		408,601			368,739

Profit for the period attributable to:
Owners of the parent		389,209			338,514
Non-controlling interests		19,392			30,225

	Yen
Earnings per share attributable to owners of the parent
Basic and diluted		225.43			198.08

—3—


	Yen (millions)
	Six months ended Sep. 30, 2021			Six months ended Sep. 30, 2022
Profit for the period		408,601			368,739
Other comprehensive income, net of tax:
Items that will not be reclassified to profit or loss
Remeasurements of defined benefit plans		—			(11	)
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		58,018			(27,735	)
Share of other comprehensive income of investments accounted for using the equity method		1,320			(1,109	)
Items that may be reclassified subsequently to profit or loss
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		(18	)		(893	)
Exchange differences on translating foreign operations		37,049			917,707
Share of other comprehensive income of investments accounted for using the equity method		26,676			69,148

Total other comprehensive income, net of tax		123,045			957,107

Comprehensive income for the period		531,646			1,325,846

Comprehensive income for the period attributable to:
Owners of the parent		514,720			1,276,881
Non-controlling interests		16,926			48,965

—4—


	Yen (millions)
	Three months ended Sep. 30, 2021			Three months ended Sep. 30, 2022
Sales revenue		3,404,358			4,255,754
Operating costs and expenses:
Cost of sales		(2,715,355	)		(3,441,741	)
Selling, general and administrative		(308,589	)		(383,205	)
Research and development		(181,428	)		(199,572	)

Total operating costs and expenses		(3,205,372	)		(4,024,518	)

Operating profit		198,986			231,236

Share of profit of investments accounted for using the equity method		51,315			60,337
Finance income and finance costs:
Interest income		5,880			15,893
Interest expense		(3,503	)		(8,223	)
Other, net		(3,642	)		(20,816	)

Total finance income and finance costs		(1,265	)		(13,146	)

Profit before income taxes		249,036			278,427
Income tax expense		(78,155	)		(73,268	)

Profit for the period		170,881			205,159

Profit for the period attributable to:
Owners of the parent		166,697			189,295
Non-controlling interests		4,184			15,864

	Yen
Earnings per share attributable to owners of the parent
Basic and diluted		96.56			110.85

—5—


	Yen (millions)
	Three months ended Sep. 30, 2021			Three months ended Sep. 30, 2022
Profit for the period		170,881			205,159
Other comprehensive income, net of tax:
Items that will not be reclassified to profit or loss
Remeasurements of defined benefit plans		—			(8	)
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		(4,564	)		(40,167	)
Share of other comprehensive income of investments accounted for using the equity method		372			(665	)
Items that may be reclassified subsequently to profit or loss
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		(48	)		(557	)
Exchange differences on translating foreign operations		7,739			268,761
Share of other comprehensive income of investments accounted for using the equity method		7,368			22,592

Total other comprehensive income, net of tax		10,867			249,956

Comprehensive income for the period		181,748			455,115

Comprehensive income for the period attributable to:
Owners of the parent		178,448			435,831
Non-controlling interests		3,300			19,284

—6—


	Yen (millions)
	Equity attributable to owners of the parent																Non-controlling interests			Total equity
	Common stock		Capital surplus			Treasury stock			Retained earnings			Other components of equity		Total			Non-controlling interests			Total equity
Balance as of April 1, 2021		86,067		172,049			(273,786	)		8,901,266			196,710		9,082,306			290,533			9,372,839

Comprehensive income for the period
Profit for the period										389,209					389,209			19,392			408,601
Other comprehensive income, net of tax													125,511		125,511			(2,466	)		123,045

Total comprehensive income for the period										389,209			125,511		514,720			16,926			531,646
Reclassification to retained earnings										(92	)		92		—						—
Transactions with owners and other
Dividends paid										(93,272	)				(93,272	)		(39,975	)		(133,247	)
Purchases of treasury stock							(19,470	)							(19,470	)					(19,470	)
Disposal of treasury stock							443								443						443
Share-based payment transactions				(267	)										(267	)					(267	)
Equity transactions and others				13,720			7,656								21,376			(21,384	)		(8	)

Total transactions with owners and other				13,453			(11,371	)		(93,272	)				(91,190	)		(61,359	)		(152,549	)

Balance as of September 30, 2021		86,067		185,502			(285,157	)		9,197,111			322,313		9,505,836			246,100			9,751,936

For the six months ended September 30, 2022

Yen (millions)

Equity attributable to owners of the parent

Non-controlling
interests

Total
equity

Common
stock

Capital
surplus

Treasury
stock

Retained
earnings

Other
components
of equity

Total

Balance as of April 1, 2022

86,067

185,495

(328,309

)

9,539,133

990,438

10,472,824

299,722

10,772,546

Comprehensive income for the period

Profit for the period

338,514

30,225

368,739

Other comprehensive income, net of tax

938,367

18,740

957,107

Total comprehensive income for the period

338,514

938,367

1,276,881

48,965

1,325,846

Reclassification to retained earnings

(45

)

45

—

Transactions with owners and other

Dividends paid

(111,256

)

(111,256

)

(47,493

)

(158,749

)

Purchases of treasury stock

(29,004

)

(29,004

)

(29,004

)

Disposal of treasury stock

263

Share-based payment transactions

(42

)

(42

)

(42

)

Total transactions with owners and other

(42

)

(28,741

)

(111,256

)

(140,039

)

(47,493

)

(187,532

)

Balance as of September 30, 2022

86,067

185,453

(357,050

)

9,766,346

1,928,850

11,609,666

301,194

11,910,860

—7—


	Yen (millions)
	Six months ended Sep. 30, 2021			Six months ended Sep. 30, 2022
Cash flows from operating activities:
Profit before income taxes		560,396			515,831
Depreciation, amortization and impairment losses excluding equipment on operating leases		307,990			357,304
Share of profit of investments accounted for using the equity method		(107,246	)		(82,946	)
Finance income and finance costs, net		(21,478	)		(69,589	)
Interest income and interest costs from financial services, net		(79,985	)		(75,593	)
Changes in assets and liabilities
Trade receivables		137,863			32,586
Inventories		(204,437	)		(129,729	)
Trade payables		(212,422	)		(49,839	)
Accrued expenses		(136,849	)		(62,296	)
Provisions and retirement benefit liabilities		(118,571	)		(8,720	)
Receivables from financial services		148,032			302,319
Equipment on operating leases		(101,068	)		493,778
Other assets and liabilities		28,415			165,071
Other, net		(5,829	)		1,465
Dividends received		101,140			131,572
Interest received		118,940			143,741
Interest paid		(45,457	)		(68,304	)
Income taxes paid, net of refunds		(71,348	)		(255,317	)

Net cash provided by operating activities		298,086			1,341,334
Cash flows from investing activities:
Payments for additions to property, plant and equipment		(140,739	)		(249,421	)
Payments for additions to and internally developed intangible assets		(81,649	)		(76,441	)
Proceeds from sales of property, plant and equipment and intangible assets		6,554			13,623
Payments for acquisitions of investments accounted for using the equity method		—			(10,340	)
Payments for acquisitions of other financial assets		(221,150	)		(322,025	)
Proceeds from sales and redemptions of other financial assets		210,274			215,952

Net cash used in investing activities		(226,710	)		(428,652	)
Cash flows from financing activities:
Proceeds from short-term financing liabilities		4,096,198			4,219,027
Repayments of short-term financing liabilities		(4,232,433	)		(4,152,744	)
Proceeds from long-term financing liabilities		943,620			362,289
Repayments of long-term financing liabilities		(830,634	)		(1,165,699	)
Dividends paid to owners of the parent		(93,272	)		(111,256	)
Dividends paid to non-controlling interests		(38,155	)		(36,752	)
Purchases and sales of treasury stock, net		(19,027	)		(28,741	)
Repayments of lease liabilities		(38,988	)		(38,890	)
Other, net		(2	)		—

Net cash used in financing activities		(212,693	)		(952,766	)
Effect of exchange rate changes on cash and cash equivalents		2,574			300,501

Net change in cash and cash equivalents		(138,743	)		260,417
Cash and cash equivalents at beginning of year		2,758,020			3,674,931

Cash and cash equivalents at end of period		2,619,277			3,935,348

—8—

Based on Honda’s organizational structure and characteristics of products and services, Honda discloses segment information in four categories: Reportable segments of Motorcycle business, Automobile business and Financial services business, and other segments that are not reportable. The other segments are combined and disclosed in Power product and other businesses. Segment information is based on the components of Honda for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The accounting policies used for segment information are consistent with the accounting policies used in the Company’s condensed consolidated interim financial statements.

Principal products and services, and functions of each segment are as follows:


Segment	Principal products and services	Functions
Motorcycle Business	Motorcycles, all-terrain vehicles (ATVs), side-by-sides (SxS) and relevant parts	Research and development Manufacturing Sales and related services

Automobile Business	Automobiles and relevant parts	Research and development Manufacturing Sales and related services

Financial Services Business	Financial services	Retail loan and lease related to Honda products Others

Power Product and Other Businesses*	Power products and relevant parts, and others	Research and development Manufacturing Sales and related services Others

Explanatory note:

*	Life creation business has been renamed Power product business as a result of organizational changes effective April 1, 2022.

Segment information based on products and services

As of and for the six months ended September 30, 2021


	Yen (millions)
	Motorcycle Business		Automobile Business		Financial Services Business		Power Product and Other Businesses		Segment Total		Reconciling Items			Consolidated
Sales revenue:
External customers		1,023,730		4,335,269		1,442,558		186,671		6,988,228		—			6,988,228
Intersegment		—		99,655		1,290		11,033		111,978		(111,978	)		—

Total		1,023,730		4,434,924		1,443,848		197,704		7,100,206		(111,978	)		6,988,228

Segment profit (loss)		148,137		117,104		176,814		141		442,196		—			442,196

Segment assets		1,379,823		8,446,421		10,902,969		357,978		21,087,191		817,075			21,904,266
Depreciation and amortization		33,325		263,951		438,425		8,414		744,115		—			744,115
Capital expenditures		17,337		191,267		1,220,048		7,402		1,436,054		—			1,436,054

As of and for the six months ended September 30, 2022

Yen (millions)

Motorcycle
Business

Automobile
Business

Financial
Services
Business

Power Product
and Other
Businesses

Segment
Total

Reconciling
Items

Consolidated

Sales revenue:

External customers

1,412,682

4,920,192

1,527,915

224,515

8,085,304

—

8,085,304

Intersegment

—

83,742

1,181

11,575

96,498

(96,498

)

—

Total

1,412,682

5,003,934

1,529,096

236,090

8,181,802

(96,498

)

8,085,304

Segment profit (loss)

224,775

63,568

153,049

12,060

453,452

—

453,452

Segment assets

1,614,071

10,241,643

12,041,882

469,044

24,366,640

1,461,253

25,827,893

Depreciation and amortization

33,600

282,801

465,827

9,615

791,843

—

791,843

Capital expenditures

20,451

304,206

712,321

5,779

1,042,757

—

1,042,757

—9—


	Yen (millions)
	Motorcycle Business		Automobile Business		Financial Services Business		Power Product and Other Businesses		Segment Total		Reconciling Items			Consolidated
Sales revenue:
External customers		505,527		2,128,833		675,986		94,012		3,404,358		—			3,404,358
Intersegment		—		53,637		364		4,445		58,446		(58,446	)		—

Total		505,527		2,182,470		676,350		98,457		3,462,804		(58,446	)		3,404,358

Segment profit (loss)		67,442		46,415		84,597		532		198,986		—			198,986

For the three months ended September 30, 2022

Yen (millions)

Motorcycle
Business

Automobile
Business

Financial
Services
Business

Power Product
and Other
Businesses

Segment
Total

Reconciling
Items

Consolidated

Sales revenue:

External customers

736,632

2,628,707

778,531

111,884

4,255,754

—

4,255,754

Intersegment

—

47,056

502

5,169

52,727

(52,727

)

—

Total

736,632

2,675,763

779,033

117,053

4,308,481

(52,727

)

4,255,754

Segment profit (loss)

126,946

25,306

74,248

4,736

231,236

—

231,236

Explanatory notes:

1.	Intersegment sales revenues are generally made at values that approximate arm’s-length prices.

2.

Reconciling items include elimination of intersegment transactions and balances as well as unallocated corporate assets. Unallocated corporate assets, included in reconciling items as of September 30, 2021 and 2022 amounted to JPY 954,524 million and JPY 1,569,670 million, respectively, which consist primarily of the Company’s cash and cash equivalents and financial assets measured at fair value through other comprehensive income.

In addition to the disclosure required by IFRS, Honda provides the following supplemental information for the financial statements users:

Supplemental geographical information based on the location of the Company and its subsidiaries

As of and for the six months ended September 30, 2021


	Yen (millions)
	Japan		North America		Europe		Asia		Other Regions		Total		Reconciling Items			Consolidated
Sales revenue:
External customers		1,106,802		3,831,856		318,011		1,450,916		280,643		6,988,228		—			6,988,228
Inter-geographic areas		992,233		236,406		80,288		309,897		5,139		1,623,963		(1,623,963	)		—

Total		2,099,035		4,068,262		398,299		1,760,813		285,782		8,612,191		(1,623,963	)		6,988,228

Operating profit (loss)		15,049		279,456		12,867		133,867		17,067		458,306		(16,110	)		442,196

Assets		5,042,889		12,216,115		535,349		3,288,559		517,500		21,600,412		303,854			21,904,266
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets		3,022,583		5,175,359		57,248		637,098		135,257		9,027,545		—			9,027,545

As of and for the six months ended September 30, 2022

Yen (millions)

Japan

North
America

Europe

Asia

Other
Regions

Total

Reconciling
Items

Consolidated

Sales revenue:

External customers

1,144,602

4,216,445

305,943

2,016,454

401,860

8,085,304

—

8,085,304

Inter-geographic areas

1,040,290

246,029

13,529

379,282

2,679

1,681,809

(1,681,809

)

—

Total

2,184,892

4,462,474

319,472

2,395,736

404,539

9,767,113

(1,681,809

)

8,085,304

Operating profit (loss)

80,735

144,015

7,690

202,740

29,536

464,716

(11,264

)

453,452

Assets

5,226,252

14,418,647

597,755

4,024,209

682,278

24,949,141

878,752

25,827,893

Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets

2,959,919

5,836,560

47,990

711,424

181,839

9,737,732

—

9,737,732

—10—


	Yen (millions)
	Japan		North America		Europe		Asia		Other Regions		Total		Reconciling Items			Consolidated
Sales revenue:
External customers		543,343		1,846,104		147,768		721,421		145,722		3,404,358		—			3,404,358
Inter-geographic areas		479,841		114,429		26,283		162,109		3,270		785,932		(785,932	)		—

Total		1,023,184		1,960,533		174,051		883,530		148,992		4,190,290		(785,932	)		3,404,358

Operating profit (loss)		13,320		126,088		2,868		52,432		14,453		209,161		(10,175	)		198,986

For the three months ended September 30, 2022

Yen (millions)

Japan

North
America

Europe

Asia

Other
Regions

Total

Reconciling
Items

Consolidated

Sales revenue:

External customers

609,572

2,183,792

145,207

1,115,446

201,737

4,255,754

—

4,255,754

Inter-geographic areas

559,064

134,138

6,689

211,486

2,213

913,590

(913,590

)

—

Total

1,168,636

2,317,930

151,896

1,326,932

203,950

5,169,344

(913,590

)

4,255,754

Operating profit (loss)

55,991

52,997

4,274

116,266

15,762

245,290

(14,054

)

231,236

Explanatory notes:

1.	Major countries in each geographic area:


North America		United States, Canada, Mexico
Europe		United Kingdom, Germany, Belgium, Italy, France
Asia		Thailand, China, India, Vietnam, Malaysia
Other Regions		Brazil, Australia

2.	Sales revenues between geographic areas are generally made at values that approximate arm’s-length prices.

3.

Reconciling items include elimination of inter-geographic transactions and balances as well as unallocated corporate assets. Unallocated corporate assets, included in reconciling items as of September 30, 2021 and 2022 amounted to JPY 954,524 million and JPY 1,569,670 million, respectively, which consist primarily of the Company’s cash and cash equivalents and financial assets measured at fair value through other comprehensive income.

—11—

Honda has been conducting market-based measures in relation to airbag inflators. Honda recognizes a provision for specific warranty costs when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. There is a possibility that Honda will need to recognize additional provisions when new evidence related to the product recalls arise, however, it is not possible for Honda to reasonably estimate the amount and timing of potential future losses as of the date of this report.

—12—


	FY 2022 results		FY 2023 forecasts		Difference compared to FY 2022 results
Sales revenue (billions of yen)		14,552.6		17,400.0		+ 2,847.3
Operating profit (billions of yen)		871.2		870.0		- 1.2
Profit before income taxes (billions of yen)		1,070.1		1,080.0		+ 9.8
Profit for the year (billions of yen)		760.7		795.0		+ 34.2
Profit for the year attributable to owners of the parent (billions of yen)		707.0		725.0		+ 17.9
Earnings per share attributable to owners of the parent
Basic and diluted (yen)		411.09		426.98		+ 15.89

[8] Dividend per Share of Common Stock


	FY 2022		FY 2023
	Results		Results		Forecasts
Interim dividend (yen)		55.00		60.00
Year-end dividend (yen)		65.00				60.00
Total annual dividend (yen)		120.00				120.00

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.

—13—

Honda Motor (NYSE:HMC)
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Honda Motor (NYSE:HMC)
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