TOKYO, Aug. 10,
2022 /PRNewswire/ --
- Despite some unfavorable factors such as a decrease in
automobile unit sales due to the semiconductor supply shortage and
the lockdown of Shanghai, and an
increase in the cost of raw materials, consolidated operating
profit for the fiscal first quarter ended June 30, 2022, amounted to 222.2 billion yen (a year-on-year decrease by
20.9 billion yen), securing operating
profit margin equivalent to that of the same period last year. This
was due primarily to the effect of changes in sales prices and
costs, a reduction of incentives and favorable currency
effects.
- Consolidated profit for the fiscal first quarter attributable
to owners of the parent amounted to 149.2
billion yen (a year-on-year decrease by 73.2 billion yen), due primarily to a decrease in
the share of profit of investments accounted for using the equity
method in China.
- The previously announced forecast for consolidated operating
profit for the current fiscal year (April 1,
2022 through March 31, 2023)
was revised upward by 20 billion yen
to 830 billion yen. The previously
announced forecast for profit for the fiscal year attributable to
owners of the parent remains the same, 710
billion yen.
- Honda will acquire its own shares, with the maximum acquisition
amount of 100 billion yen, with the
purposes including improving efficiency of its capital structure
and implementing a flexible capital strategy.
I. Consolidated financial summary and
business-by-business results for the fiscal first quarter (3
months) ended June 30, 2022
- Sales revenue: 3,829.5 billion
yen (a year-on-year increase of 6.9%)
Although automobile sales decreased, consolidated sales revenue
experienced a year-on-year increase due primarily to an increase in
motorcycle sales and favorable currency effects.
- Operating profit: 222.2 billion
yen (a year-on-year decrease of 8.6%)
- Profit for the period attributable to owners of the parent:
149.2 billion yen (a
year-on-year decrease of 32.9%)
1) Motorcycle business
Sales revenue: 676.0
billion yen (a year-on-year increase of 30.5%)
Increase due primarily to a sales increase in Asia and favorable currency effects.
Operating profit: 97.8
billion yen (a year-on-year increase of 21.2%)
Increase due primarily to an increase in profit related to changes
in sales prices and costs and favorable currency effects.
2) Automobile business
Sales revenue: 2,328.1
billion yen (a year-on-year increase of 3.4%)
Although sales decreased mainly in North
America, sales revenue experienced a year-on-year increase
due primarily to favorable currency effects.
Operating profit: 38.2
billion yen (a year-on-year decrease of 45.9%)
Decrease due primarily to a decrease in profit attributable to
sales impacts.
Combined with operating profit from financial services business
related to automobile sales, the estimated operating profit for
automobile business is 113.9 billion
yen.
3) Financial Services
business
Operating profit: 78.8
billion yen (a year-on-year decrease of 14.5%)
Decrease due primarily to a decrease in profit due to lower
revenue.
4) Power Product and Other
businesses
Operating profit: 7.3
billion yen (a year-on-year increase of 7.7 billion yen)
Aircraft/aircraft engine business, which is included in "Other
businesses," accounted for an operating loss of 3.8 billion yen.
II. Forecasts for the Fiscal Year Ending
March 31, 2023 (FY23)
- Sales revenue: 16,750 billion
yen
(upward revision of the previously announced
forecast by 500 billion yen)
- Operating profit: 830 billion
yen
(upward revision of the previously announced
forecast by 20 billion yen)
- Profit for the fiscal year attributable to owners of the
parent: 710 billion yen
(no
change from the previously announced forecast)
III. Acquisition of the Company's Own
Shares
For the purpose of improving efficiency of its
capital structure and implementing a flexible capital strategy,
among others, Honda resolved the following details regarding the
acquisition of its own shares at the Board of Directors meeting
held today.
|
• Total number of
shares to be acquired (maximum):
|
32 million shares
(common shares)
|
|
• Total amount of
acquisition (maximum):
|
100 billion
yen
|
|
• Period of
acquisition:
|
From August 12, 2022
through March 31, 2023
|
Consolidated Financial Results for the Fiscal 1st Quarter
ended June 30, 2022
|
|
1st quarter
ended
June 30,
2021
(3 months
period)
|
1st quarter
ended
June 30,
2022
(3 months
period)
|
Difference
|
|
Honda Group
Unit
Sales*1
(million
units)
|
Motorcycles
|
3.879
|
4.251
|
+0.372
|
|
Automobiles*3
|
0.998
|
0.815
|
-0.183
|
|
Power
Products*4
|
1.708
|
1.546
|
-0.162
|
|
Consolidated
Unit
Sales*2
(million
units)
|
Motorcycles
|
2.392
|
2.972
|
+0.580
|
|
Automobiles*3
|
0.608
|
0.529
|
-0.079
|
|
Power
Products*4
|
1.708
|
1.546
|
-0.162
|
|
Financial
Results
(billion
yen)
|
Sales
revenue
|
3,583.8
|
3,829.5
|
+245.6
|
|
Operating
profit
|
243.2
|
222.2
|
-20.9
|
|
Share of profit of
investments
accounted for using the
equity method
|
55.9
|
22.6
|
-33.3
|
|
Profit before income
taxes
|
311.3
|
237.4
|
-73.9
|
|
Profit for the
period
attributable to owners
of the
parent
|
222.5
|
149.2
|
-73.2
|
|
Honda's
Average
Rate (yen)
|
USD=
|
109
|
130
|
JPY depreciated
against the USD
by 21 yen/dollar
|
Forecasts for the Fiscal Year Ending March 31, 2023 (FY23)
|
|
FY22
results
|
Previous
FY23
forecasts
（2022/5/13）
|
Revised
FY23
forecasts
(2022/8/10)
|
Difference
compared to
FY22 results
|
Difference
compared
to previous
forecasts
|
|
Honda Group
Unit
Sales*1
(million
units)
|
Motorcycles
|
17.027
|
18.560
|
18.560
|
+1.533
|
―
|
|
Automobiles*3
|
4.074
|
4.200
|
4.200
|
+0.126
|
―
|
|
Power
Products*4
|
6.200
|
5.665
|
5.665
|
-0.535
|
―
|
|
Consolidated
Unit
Sales*2
(million
units)
|
Motorcycles
|
10.721
|
11.660
|
11.660
|
+0.939
|
―
|
|
Automobiles*3
|
2.424
|
2.520
|
2.520
|
+0.096
|
―
|
|
Power
Products*4
|
6.200
|
5.665
|
5.665
|
-0.535
|
―
|
|
Financial
Results/
Forecasts
(billion
yen)
|
Sales
revenue
|
14,552.6
|
16,250.0
|
16,750.0
|
+2,197.3
|
+500.0
|
|
Operating
profit
|
871.2
|
810.0
|
830.0
|
-41.2
|
+20.0
|
|
Share of profit of
investments
accounted for using the
equity method
|
202.5
|
230.0
|
215.0
|
+12.4
|
-15.0
|
|
Profit before income
taxes
|
1,070.1
|
1,035.0
|
1,040.0
|
-30.1
|
+5.0
|
|
Profit for the
year
attributable to owners
of the parent
|
707.0
|
710.0
|
710.0
|
+2.9
|
―
|
|
Annual dividend per
share (yen)
|
120
|
120
|
120
|
―
|
―
|
|
Honda's
Average
Rate (yen)
|
USD=
|
112
|
120
|
125
|
JPY to
depreciate
against the
USD by
13
yen/dollar
|
JPY to
depreciate
against the
USD by
5 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
and others by our Japanese finance subsidiaries and provided
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.
|
|
*4
|
Life creation business
has been renamed Power product business effective April 1,
2022.
|
For Additional Information, please visit;
https://global.honda/investors/library/financialresult.html
SOURCE: Honda Motor Co., Ltd
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SOURCE Honda Motor Co., Ltd.