TOKYO, May 13, 2016 /PRNewswire/ -- Honda Motor
Co., Ltd. (HMC; NYSE) today announced its consolidated financial
results for the fiscal fourth quarter and the fiscal year ended
March 31, 2016.
Fourth Quarter Results
Honda's consolidated loss for the period attributable to owners
of the parent for the fiscal fourth quarter ended March 31, 2016 totaled JPY
93.4 billion (USD 829
million), a decrease of JPY 175.3
billion (USD 1,556 million)
from the same period last year. Loss per share attributable to
owners of the parent for the quarter amounted to JPY 51.85 (USD
0.46), a decrease of JPY 97.3
(USD 0.86) from earnings per share
attributable to owners of the parent for the quarter amounted to
JPY 45.45 for the corresponding
period last year. One Honda American Depository Share represents
one common share.
Consolidated sales revenue for the quarter amounted to
JPY 3,657.8 billion (USD 32,463 million), an increase of 4.8% from the
same period last year, due primarily to increased revenue in
automobile and financial services business operations, despite
decreased revenue from unfavorable foreign currency translation
effects.
Consolidated operating loss for the quarter amounted to
JPY 63.8 billion (USD 566 million), a decrease of JPY 149.9 billion (USD
1,331 million) from the same period last year, due primarily
to increased SG&A expenses, including quality related expenses
and unfavorable foreign currency effects, despite an increase in
profit attributable to increased sales revenue and model mix, as
well as continuing cost reduction efforts.
Share of profit of investments accounted for using the equity
method for the quarter amounted to JPY 8.3
billion (USD 74 million) for
the quarter, a decrease of 53.3% from the corresponding period last
year.
Consolidated loss before income taxes for the quarter totaled
JPY 58.7 billion (USD 521 million), a decrease of JPY 166.3 billion (USD
1,476 million) from the corresponding period last year.
Business Segment
In motorcycle business operations, sales revenue decreased by
15.0%, to JPY 437.2 billion
(USD 3,880 million) from the same
period last year. Operating profit totaled JPY 27.6 billion (USD 245
million), a decrease of 48.2% from the same period last
year.
In automobile business operations, sales revenue increased by
10.0%, to JPY 2,675.3 billion
(USD 23,743 million) from the same
period last year. Honda reported an operating loss of JPY 114.7 billion (USD
1,018 million), a decline of JPY 96.6
billion from the same period last year.
In financial services business operations, sales revenue
increased by 1.0%, to JPY 455.3
billion (USD 4,041 million)
from the same period last year. Operating profit decreased by 19.6%
to JPY 43.5 billion (USD 387 million) from the same period last
year.
In power product and other businesses operations, sales revenue
decreased by 4.3%, to JPY 89.9
billion (USD 798 million) from
the same period last year. Honda reported an operating loss of
JPY 20.2 billion (USD 180 million), a decline of JPY 16.8 billion (USD 150
million) from the same 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
112.68=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, 2016.
Forecasts for the Fiscal Year Ending March 31, 2017
In regard to the forecasts of the financial results for the
fiscal year ending March 31, 2017,
Honda projects consolidated results to be as shown below:
Fiscal year ending March 31,
2017
|
Yen
(billions)
|
Changes from FY
2016
|
Sales
revenue
|
13,750.0
|
-5.8%
|
Operating
profit
|
600.0
|
+19.2%
|
Profit before income
taxes
|
705.0
|
+10.9%
|
Profit for the year
attributable to
owners of the parent
|
390.0
|
+13.2%
|
|
Yen
|
|
Earnings per share
attributable to
owners of the parent
Basic and
diluted
|
216.39
|
|
Dividend per Share of Common Stock for the fiscal years 2016
and 2017
The Company plans to distribute year-end cash dividends of
JPY 22 per share for the year ended
March 31, 2016, which is a matter to
be resolved at the ordinary general meeting of shareholders.
The Company expects to distribute quarterly cash dividends of
JPY 22 per share for each quarter for
the year ending March 31, 2017. As a
result, total cash dividends for the year ending March 31, 2017 are expected to be JPY 88 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.
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SOURCE Honda Motor Co., Ltd.