The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from PR Newswire

Honda Motor Co., Ltd. Reports Consolidated Financial Results For The Fiscal Second Quarter Ended September 30, 2012

Monday, October 29, 2012

Honda Motor Co., Ltd. Reports Consolidated Financial Results For The Fiscal Second Quarter Ended September 30, 201207:00 EDT Monday, October 29, 2012TOKYO, Oct. 29, 2012 /PRNewswire/ -- Honda Motor Co., Ltd. (HMC; NYSE) today announced its consolidated financial results for the fiscal second quarter ended September 30, 2012.Second Quarter ResultsHonda's consolidated net income attributable to Honda Motor Co., Ltd. for the fiscal second quarter ended September 30, 2012 totaled JPY 82.2 billion (USD 1,060 million), an increase of 36.1% from the same period last year. Basic net income attributable to Honda Motor Co., Ltd. per common share for the quarter amounted to JPY 45.63 (USD 0.59), an increase of JPY 12.10 (USD 0.16) from JPY 33.53 for the corresponding period last year. One Honda American Depository Share represents one common share.Consolidated net sales and other operating revenue for the quarter amounted to JPY 2,271.2 billion (USD 29,269 million), an increase of 20.4% from the same period last year, due primarily to increased revenue in automobile business operations as the production has recovered from the impacts of the Great East Japan Earthquake.Consolidated operating income for the quarter amounted to JPY 100.8 billion (USD 1,300 million), an increase of 92.1% from the same period last year, due primarily to an increase in sales volume and model mix and cost reduction, despite increased SG&A and R&D expenses and the unfavorable foreign currency effects.Equity in income of affiliates amounted to JPY 27.4 billion (USD 354 million) for the quarter, an increase of 76.7% from the corresponding period last year.Business SegmentIn automobile business operation, revenue increased 32.5%, to JPY 1,766.2 billion (USD 22,760 million) from the same period last year. Operating income totaled JPY 37.1 billion (USD 479 million), an increase of JPY 66.2 billion (USD 854 million) from the same period last year.In motorcycle business operation, revenue decreased 13.3%, to JPY 309.7 billion (USD 3,991 million) from the same period last year. Operating income totaled JPY 25.4 billion (USD 327 million), a decrease of 34.8% from the same period last year.In financial services business operation, revenue increased 3.1% to JPY 130.4 billion (USD 1,680 million) from the same period last year. Operating income decreased 10.6% to 38.2 billion (USD 493 million) from the same period last year.Forecasts for the Fiscal Year Ending March 31, 2013In regard to the forecasts of the financial results for the fiscal year ending March 31, 2013, Honda projects consolidated results to be as shown below:Fiscal year ending March 31, 2013Yen (billions)Changes from FY 2012Net sales and other operating revenue9,800+ 23.3%Operating income520+ 124.8%Net income 375+ 77.3%YenBasic net income per common share208.07Dividend per Share of Common Stock for fiscal years 2012 and 2013The Board of Directors of Honda Motor Co., Ltd., at its meeting held on October 29, 2012, resolved to make the quarterly dividend JPY 19 per share of common stock, the record date of which is September 30, 2012. The total expected annual dividend per share of common stock for the fiscal year ending March 31, 2013, is JPY 76 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 Honda's actual results could differ materially from those described in these forward-looking statements as a result of numerous factors, including general economic conditions in Honda's principal markets and foreign exchange rates between the Japanese yen and the U.S. dollar, the Euro and other major currencies, as well as other factors detailed from time to time.For Additional Information, Please visit;http://world.honda.com/investors/library/financialresult/  SOURCE Honda Motor Co., Ltd.For further information: Honda Motor Co., Ltd., +1-212-707-9920 ext: 1