TOKYO, May 14, 2021 /PRNewswire/ --
- Despite some unfavorable factors such as a decrease in demand
due to the impact of the COVID-19 pandemic and the impact of
semiconductor supply shortages, consolidated operating profit for
the fiscal year ended March 31, 2021
(FY21) amounted to 660.2 billion yen
due primarily to control of selling, general and administrative
(SG&A) expenses and cost reduction efforts based on a review of
business activities, as well as an increase in profit due to a
year-on-year difference in the amount of the provision for credit
losses recorded for financial services business.
- Consolidated profit for the year attributable to owners of the
parent experienced a year-on-year increase and amounted to
657.4 billion yen, due also to an
increase in the share of profit of investments accounted for using
the equity method.
- Despite the impact of an increase in raw material prices and a
year-on-year difference in the amount of the provision for credit
losses recorded, Honda plans to achieve a consolidated operating
profit of 660 billion yen for the
fiscal year ending March 31, 2022
(FY22), equivalent to that of FY21, by increasing unit sales and
making progress in initiatives to solidify its existing businesses.
Although production adjustments are currently being made at some
Honda production operations globally due primarily to semiconductor
supply shortages, Honda will minimize the impact of such production
adjustments for the full-year results.
- Quarterly dividend for the fiscal fourth quarter will be
54 yen per share; total dividends to
be paid for the fiscal year ended March 31,
2021(FY21) will be 110 yen per
share, an increase by 28 yen per
share compared to the previously announced forecast.
- The forecast for total dividends to be paid for the fiscal year
ending March 31, 2022(FY22) is
110 yen per share, equivalent to that
of FY21.
- With the aim to ensure stable and constant dividend
distribution, the frequency of dividend payments will be changed to
twice a year.
*
|
To be implemented
after the approval at the General Meeting of
Shareholders.
|
I. Consolidated financial summary for the fiscal
year ended March 31,
2021(FY21)
- Sales revenue: 13,170.5 billion
yen (a year-on-year decrease of 11.8%)
The year-on-year decrease was due to a decrease in sales revenue
from all businesses due primarily to the impact of the COVID-19
pandemic.
- Operating profit: 660.2 billion
yen (a year-on-year increase of 4.2%)
The year-on-year increase was due primarily to control of SG&A
expenses and cost reduction efforts. This was despite a decrease in
profit related to changes in sales volume and model mix.
- Profit before income taxes: 914.0
billion yen (a year-on-year increase of 15.7%)
- Profit for the year attributable to owners of the parent:
657.4 billion yen (a
year-on-year increase of 44.3%)
II. Consolidated financial summary and
business-by-business results for the fiscal fourth quarter (3
months) ended March 31,
2021(FY21)
- Sales revenue: 3,623.8 billion
yen (a year-on-year increase of 4.8%)
The increase was due to an increase in sales revenue from all
businesses.
- Operating profit: 213.2 billion
yen (a year-on-year increase of 218.8 billion yen) The increase was due primarily
to control of SG&A expenses and an increase in profit related
to changes in sales volume and model mix.
1) Motorcycle
business
Sales revenue: 529.1
billion yen (a year-on-year increase of
55.5 billion yen)
The increase was due to the recovery of sales mainly in
Asia.
Operating profit: 72.2 billion yen (a year-on-year
increase of 8.7 billion yen).
The increase was due primarily to an increase in profit related to
changes in sales volume and model mix and cost reduction
efforts.
2) Automobile
business
Sales revenue: 2,418.4
billion yen (a year-on-year increase of 79.6 billion yen)
The increase was due primarily to an increase in sales in
Asia. This was despite a decrease
in sales in some regions including the U.S. and Europe.
Operating profit: 37.6 billion yen (a year-on-year
increase of 113.3 billion yen)
The increase was due primarily to control of SG&A expenses and
an increase in profit related to changes in sales volume and model
mix.
Combined with operating profit from financial services business
related to automobile sales, the estimated operating profit for
automobile business is 140.4 billion
yen.
3) Financial
Services business
Operating profit: 106.3 billion yen (a year-on-year
increase of 83.4 billion yen)
The increase was due primarily to a year-on-year difference in the
amount of the provision for credit losses recorded.
4) Life Creation
(power products) and Other businesses
Operating loss:
3.0 billion yen (a year-on-year
improvement of 13.3 billion yen)
Aircraft/aircraft engine business, which is included in "Other
businesses," accounted to an operating loss of 7.8 billion yen.
III. Forecasts for the Fiscal Year Ending
March 31, 2022(FY22)
Despite the impact of an increase
in raw material prices and a year-on-year difference in the amount
of the provision for credit losses recorded, Honda plans to achieve
a consolidated operating profit of 660
billion yen for the fiscal year ending March 31, 2022 (FY22), equivalent to that of
FY21, by increasing unit sales and making progress in initiatives
to solidify its existing businesses, which includes optimization of
production capacity and increasing development efficiency.
Consolidated Financial Results for the Fiscal 4th Quarter
ended March 31, 2021(FY21)
|
|
4th
quarter
ended
Mar. 31,
2020
(3 months
period)
|
4th
quarter
ended
Mar 31,
2021
(3 months
period)
|
Difference
|
Honda
Group
Unit
Sales*1
(million
units)
|
Motorcycles
|
4.302
|
4.541
|
+0.239
|
Automobiles*3
|
0.981
|
1.121
|
+0.140
|
Life
Creation
|
2.071
|
1.768
|
-0.303
|
Consolidated
Unit
Sales*2
(million
units)
|
Motorcycles
|
2.694
|
3.001
|
+0.307
|
Automobiles*3
|
0.777
|
0.718
|
-0.059
|
Life
Creation
|
2.071
|
1.768
|
-0.303
|
Financial
Results
(billion
yen)
|
Sales
revenue
|
3,458.0
|
3,623.8
|
+165.7
|
Operating
profit
|
-5.6
|
213.2
|
+218.8
|
Share of profit of
investments accounted for using the equity method
|
14.4
|
68.1
|
+53.6
|
Profit before income
taxes
|
3.7
|
255.3
|
+251.5
|
Profit for the
period
attributable to
owners of the
parent
|
-29.5
|
213.3
|
+242.8
|
Quarterly dividend
per share (yen)
|
28
|
54
|
+26
|
Honda's
Average
Rate
(yen)
|
USD=
|
109
|
106
|
JPY appreciated
against the USD
by 3 yen/dollar
|
Consolidated Financial Results for the Fiscal Year Ended
March 31, 2021(FY21)
|
|
FY20
results
|
Previous
FY21
forecasts
(2021/2/9)
|
FY21
Results
(2021/5/14)
|
Difference
compared
to
FY20
results
|
Difference
compared to
previous forecasts
|
Honda
Group
Unit
Sales*1
(million
units)
|
Motorcycles
|
19.340
|
15.000
|
15.132
|
-4.208
|
+0.132
|
Automobiles*3
|
4.790
|
4.500
|
4.546
|
-0.244
|
+0.046
|
Life
Creation
|
5.701
|
5.500
|
5.623
|
-0.078
|
+0.123
|
Consolidated
Unit
Sales*2
(million
units)
|
Motorcycles
|
12.426
|
10.185
|
10.264
|
-2.162
|
+0.079
|
Automobiles*3
|
3.318
|
2.615
|
2.617
|
-0.701
|
+0.002
|
Life
Creation
|
5.701
|
5.500
|
5.623
|
-0.078
|
+0.123
|
Financial
Results
(billion
yen)
|
Sales
revenue
|
14,931.0
|
12,950.0
|
13,170.5
|
-1,760.4
|
+220.5
|
Operating
profit
|
633.6
|
520.0
|
660.2
|
+26.5
|
+140.2
|
Share of profit of
investments accounted for using the equity method
|
164.2
|
235.0
|
272.7
|
+108.5
|
+37.7
|
Profit before income
taxes
|
789.9
|
745.0
|
914.0
|
+124.1
|
+169.0
|
Profit for the
year
attributable to
owners of the
parent
|
455.7
|
465.0
|
657.4
|
+201.6
|
+192.4
|
Annual dividend per
share (yen)
|
112
|
82
|
110
|
-2
|
+28
|
Honda's
Average
Rate
(yen)
|
USD=
|
109
|
105
|
106
|
JPY appreciated against
the
USD by 3 yen/dollar
|
JPY
depreciated
against the
USD by 1 yen/dollar
|
Forecasts for the Fiscal Year Ending March 31, 2022 (FY22)
|
|
FY21
results
|
FY22
forecasts
(2021/5/14)
|
Difference
compared
to
FY21
results
|
Honda
Group
Unit
Sales*1
(million
units)
|
Motorcycles
|
15.132
|
18.000
|
+2.868
|
Automobiles*3
|
4.546
|
5.000
|
+0.454
|
Life
Creation
|
5.623
|
5.900
|
+0.277
|
Consolidated
Unit
Sales*2
(million
units)
|
Motorcycles
|
10.264
|
11.860
|
+1.596
|
Automobiles*3
|
2.617
|
3.030
|
+0.413
|
Life
Creation
|
5.623
|
5.900
|
+0.277
|
Financial
Results/
Forecasts
(billion
yen)
|
Sales
revenue
|
13,170.5
|
15,200.0
|
+2,029.4
|
Operating
profit
|
660.2
|
660.0
|
-0.2
|
Share of profit of
investments
accounted for using
the equity method
|
272.7
|
220.0
|
-52.7
|
Profit before income
taxes
|
914.0
|
870.0
|
-44.0
|
Profit for the
year
attributable to
owners of the
parent
|
657.4
|
590.0
|
-67.4
|
Annual dividend per
share (yen)
|
110
|
110
|
―
|
Honda's
Average
Rate
(yen)
|
USD=
|
106
|
105
|
JPY to appreciate
against the USD
by 1 yen/dollar
|
|
|
*1
|
Honda Group Unit
Sales is the total unit sales of completed products (motorcycles,
ATVs, Side-by-Sides, automobiles, power products) of Honda, its
consolidated subsidiaries and its affiliates and joint ventures
accounted for using the equity method.
|
|
|
*2
|
Consolidated Unit
Sales is the total unit sales of completed products (motorcycles,
ATVs, Side-by-Sides, automobiles, power products) corresponding to
consolidated sales revenue, which consists of unit sales of
completed products of Honda and its consolidated
subsidiaries.
|
|
|
*3
|
Certain sales of
automobiles that are financed with residual value type auto loans
by our Japanese finance subsidiaries and sold through our
consolidated subsidiaries are accounted for as operating leases in
conformity with IFRS and are not included in consolidated sales
revenue to the external customers in our automobile business.
Accordingly, they are not included in Consolidated Unit Sales, but
are included in Honda Group Unit Sales of our automobile
business.
|
For Additional Information, please visit;
https://global.honda/investors/library/financialresult.html
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SOURCE Honda Motor Co., Ltd.