TOKYO, Aug. 2, 2016 /PRNewswire/ -- Honda Motor
Co., Ltd. (NYSE: HMC) today announced its consolidated financial
results for the fiscal first quarter ended June 30, 2016.
First Quarter Results
Honda's consolidated profit for the period attributable to
owners of the parent for the fiscal first quarter ended
June 30, 2016 totaled JPY 174.6 billion (USD
1,698 million), a decrease of 6.1% from the same period last
year, due primarily to an increase in Income tax expense. Earnings
per share attributable to owners of the parent for the quarter
amounted to JPY 96.93 (USD 0.94), a decrease of JPY 6.29 (USD 0.06)
from JPY 103.22 for the corresponding
period last year. One Honda American Depository Share represents
one common share.
Consolidated sales revenue for the quarter amounted to
JPY 3,471.7 billion (USD 33,736 million), a decrease of 6.3% from the
same period last year, due primarily to unfavorable foreign
currency translation effects, despite increased consolidated unit
sales in automobile and motorcycle business operations.
Consolidated operating profit for the quarter amounted to
JPY 266.8 billion (USD 2,593 million), an increase of 11.5% from the
same period last year, due primarily to continuing cost reduction
efforts and an increase in profit attributable to increased sales
revenue and model mix, as well as decreased SG&A expenses,
including quality related expenses, despite unfavorable foreign
currency effects and the effects of the 2016 Kumamoto
Earthquake.
Share of profit of investments accounted for using the equity
method for the quarter amounted to JPY 27.2
billion (USD 265 million) for
the quarter, a decrease of 29.0% from the corresponding period last
year.
Consolidated profit before income taxes for the quarter totaled
JPY 288.4 billion (USD 2,803 million), an increase of 2.2% from the
same period last year.
Business Segment
In motorcycle business operations, sales revenue decreased 8.5%,
to JPY 432.4 billion (USD 4,202 million) from the same period last
year. Operating profit totaled JPY 31.1
billion (USD 303 million), a
decrease of 43.9% from the same period last year.
In automobile business operations, sales revenue decreased 6.6%,
to JPY 2,498.9 billion (USD 24,283 million) from the same period last
year. Operating profit totaled JPY 184.5
billion (USD 1,793 million),
an increase of 41.1% from the same period last year.
In financial services business operations, sales revenue
decreased 1.9%, to JPY 464.6 billion
(USD 4,515 million) from the same
period last year. Operating profit decreased 3.6% to JPY 50.5 billion (USD 491
million) from the same period last year.
In power product and other businesses operations, sales revenue
decreased 8.3%, to JPY 75.6 billion
(USD 735 million) from the same
period last year. Operating profit totaled JPY 0.5 billion (USD 5
million), an increase of 2.9% 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
102.91=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 June 30, 2016.
Forecasts for the Fiscal Year Ending March 31, 2017
In regard to the forecasts of the consolidated financial results
for the fiscal year ending March 31,
2017, we have not changed our forecast from our previous
announcement on May 13, 2016.
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
The Board of Directors of Honda Motor Co., Ltd., at its meeting
held on August 2, 2016, resolved to
make the quarterly dividend JPY 22
per share of common stock, the record date of which is June 30, 2016. The total expected annual dividend
per share of common stock for the fiscal year ending March 31, 2017, is 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.
For Additional Information, please
visit;
http://world.honda.com/investors/library/financialresult/
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SOURCE Honda Motor Co., Ltd.