Honda Releases Consolidated Financial Summary for the Fiscal First Half Ended September 30, 2017
November 02 2017 - 2:00AM
JCN Newswire (English)
Honda Motor Co., Ltd. announced its consolidated financial
results for the fiscal first half ended September 30, 2017.
Consolidated sales revenue for the fiscal first half (April 1, 2017
through September 30, 2017) amounted to 7,489.2 billion yen, an
increase of 11.2% compared to the same period last year, due
primarily to an increase in sales revenue from all businesses and
favorable foreign currency translation effects.
Consolidated operating profit for the fiscal first half amounted to
422.1 billion yen, a decrease of 14.7% compared to the same period
last year, due primarily to the loss related to the settlement of
multidistrict class action litigation and the reverse effect from
the impact of pension plan amendments in previous fiscal year. This
was despite profit-increasing factors such as an increase in profit
related to changes in sales volume and model mix and cost reduction
efforts.
Consolidated profit before income taxes for the fiscal first half
amounted to 577.6 billion yen, an increase of 3.3% compared to the
same period last year, due primarily to an increase in share of
profit of investments accounted for using the equity method.
Consolidated profit for the fiscal first half attributable to
owners of the parent amounted to 381.3 billion yen, an increase of
8.4% compared to the same period last year.
Reflecting an increase in consolidated motorcycle unit sales and
the favorable foreign currency effects, the following upward
revisions were made to the previously announced consolidated
financial forecasts for the current fiscal year (April 1, 2017
through March 31, 2018). The forecast for consolidated sales
revenue was revised upward by 550.0 billion yen to 15.05 trillion
yen, operating profit was revised upward by 20.0 billion yen to
745.0 billion yen, and the forecast for profit for the current
fiscal year attributable to owners of the parent was revised upward
by 40.0 billion yen to 585.0 billion yen.
The quarterly dividend for the fiscal second quarter will be 24 yen
per share (an increase of 2 yen per share compared to the same
period last year), and total dividends to be paid for the fiscal
year ending March 31, 2018 are expected to be 96 yen per share (an
increase of 4 yen per share compared to the previous fiscal
year).
At the board of directors meeting held today, Honda resolved the
following details regarding the acquisition of its own shares:
- Class of shares and the total number of shares to be acquired:
Shares of common stock,
24 million shares (maximum)
- Total amount of acquisition: Up to 90 billion yen
- Period of acquisition: From November 2, 2017 through January 31,
2018
Moreover, striving to further enhance its capital policies, Honda
decided to revise its dividend policy. Honda has always positioned
shareholder return as one of the top priorities for the company
management and had a policy of "the present goal is to maintain a
shareholders' return ratio of approximately 30%." This time, Honda
revised the policy to "with respect to dividends, the present goal
is to realize a return ratio alone of approximately 30%." Along
with the revision of dividend policy, Honda will acquire its own
shares when appropriate for the purpose of improving capital
efficiency and implementing necessary capital policy in a flexible
manner.
About Honda
Honda Motor Co., Ltd. (TSE:7267 / NYSE:HMC / LSE:HNDA) is one of
the leading manufacturers of automobiles and power products and the
largest manufacture of motorcycles in the world. Honda has always
sought to provide genuine satisfaction to people worldwide. The
result is more than 120 manufacturing facilities in 30 countries
worldwide, producing a wide range of products, including
motorcycles, ATVs, generators, marine engines, lawn and garden
equipment and automobiles that bring the company into contact with
over 19 million customers annually. For more information, please
visit http://world.honda.com.
Source: Honda
Contact:
Honda
Media Inquiries
corporate_pr@hm.honda.co.jp
+81-3-5412-1512
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