TOKYO, Nov. 9, 2022 /PRNewswire/ -- 

  • Despite some unfavorable factors such as a decrease in automobile production and unit sales due to the impact of the semiconductor supply shortage, and an increase in the cost of raw materials, consolidated operating profit for the fiscal first half (6 months) ended September 30, 2022, amounted to 453.4 billion yen (a year-on-year increase by 11.2 billion yen). This was due primarily to pricing that reflects increased product value, a reduction of incentives, an increase in motorcycle unit sales and favorable currency effects.
  • Consolidated profit for the fiscal first half (6 months) attributable to owners of the parent amounted to 338.5 billion yen (a year-on-year decrease by 50.6 billion yen), due primarily to a decrease in the share of profit of investments accounted for using the equity method.
  • Despite the impact of a decrease in automobile unit sales and the forecasted continuation of upward pressure on costs, the previously announced forecast for consolidated operating profit for the current fiscal year ending March 31, 2023 (FY23) was revised upward by 40 billion yen to 870 billion yen reflecting an increase in motorcycle unit sales in some countries such as India and Vietnam and recent currency effects.
  • The previously announced forecast for profit for the fiscal year attributable to owners of the parent was revised upward by 15 billion yen to 725 billion yen.

I.  Consolidated financial summary and business-by-business results for the fiscal first half (6 months) ended September 30, 2022

  • Sales revenue: 8,085.3 billion yen (a year-on-year increase of 15.7%)
    Increase due primarily to higher motorcycle sales and favorable currency effects.
  • Operating profit: 453.4 billion yen (a year-on-year increase of 2.5%)
  • Profit for the period attributable to owners of the parent: 338.5 billion yen (a year-on-year decrease of 13.0%).

1)  Motorcycle business 
Sales revenue: 1,412.6 billion yen (a year-on-year increase of 38.0%) 
Increase due primarily to higher sales in Asia and favorable currency effects.

Operating profit: 224.7 billion yen (a year-on-year increase of 51.7%) 
Increase due primarily to an increase in profit attributable to higher sales volume, price and cost impacts, and favorable currency effects. 

2)  Automobile business 
Sales revenue: 5,003.9 billion yen (a year-on-year increase of 12.8%) 
Although sales decreased mainly in North America, sales revenue experienced a year-on-year increase due primarily to favorable currency effects.

Operating profit: 63.5 billion yen (a year-on-year decrease of 45.7%) 
Decrease due primarily to a decrease in profit attributable to lower sales volume. 
Combined with operating profit from financial services business related to automobile sales, the estimated operating profit for automobile business is 211.3 billion yen.

3)  Financial Services business 
Operating profit: 153.0 billion yen (a year-on-year decrease of 13.4%)

4)  Power Product and Other businesses 
Operating profit: 12.0 billion yen (a year-on-year increase of 11.9 billion yen
Aircraft/aircraft engine business, which is included in "Other businesses," accounted for an operating loss of 12.0 billion yen.

II.  Forecasts for the Fiscal Year Ending March 31, 2023 (FY23) 

  • Sales revenue: 17,400 billion yen
    (upward revision of the previously announced forecast by 650 billion yen)
  • Operating profit: 870 billion yen
    (upward revision of the previously announced forecast by 40 billion yen)
  • Profit for the fiscal year attributable to owners of the parent: 725 billion yen
    (upward revision of the previously announced forecast by 15 billion yen)

 

Consolidated Financial Results for the Fiscal First Half Ended September 30, 2022



Fiscal first half ended

Sep. 30, 2021

(6 months period)

Fiscal first half ended

Sep. 30, 2022

(6 months period)

Difference

Honda Group

Unit Sales*1

(million units)

Motorcycles

8.173

9.202

+1.029

Automobiles*3

1.915

1.785

-0.130

Power Products

3.230

2.935

-0.295

Consolidated

Unit Sales*2

(million units)

Motorcycles

5.087

6.343

+1.256

Automobiles*3

1.182

1.093

-0.089

Power Products

3.230

2.935

-0.295

Financial

Results

(billion yen)

Sales revenue

6,988.2

8,085.3

+1,097.0

Operating profit

442.1

453.4

+11.2

Share of profit of investments

accounted for using the equity method

107.2

82.9

-24.3

Profit before income taxes

560.3

515.8

-44.5

Profit for the period

attributable to owners of the

parent

389.2

338.5

-50.6

Honda's

Average

Rate (yen)

USD=

110

134

JPY depreciated
against the USD
by 24 yen/dollar

Forecasts for the Fiscal Year Ending March 31, 2023 (FY23)



FY22

results

Previous

FY23 forecasts

2022/8/10

Revised

FY23 forecasts

(2022/11/9)

Difference

compared to

FY22 results

Difference
compared
to previous
forecasts

Honda Group

Unit Sales*1

(million units)

Motorcycles

17.027

18.560

18.430

+1.403

-0.130

Automobiles*3

4.074

4.200

4.100

+0.026

-0.100

Power Products

6.200

5.665

5.665

-0.535

Consolidated

Unit Sales*2

(million units)

Motorcycles

10.721

11.660

12.020

+1.299

+0.360

Automobiles*3

2.424

2.520

2.465

+0.041

-0.055

Power Products

6.200

5.665

5.665

-0.535

Financial

Results

(billion yen)

Sales revenue

14,552.6

16,750.0

17,400.0

+2,847.3

+650.0

Operating profit

871.2

830.0

870.0

-1.2

+40.0

Share of profit of investments

accounted for using the equity method

202.5

215.0

225.0

+22.4

+10.0

Profit before income taxes

1,070.1

1,040.0

1,080.0

+9.8

+40.0

Profit for the year

attributable to owners of the parent

707.0

710.0

725.0

+17.9

+15.0

Annual dividend per share (yen)

120

120

120

Honda's

Average

Rate (yen)

USD=

112

125

135

JPY to
depreciate
against the

USD by

22 yen/dollar

JPY to
depreciate
against the
USD by

10 yen/dollar

Supplemental data 
Consolidated Financial Results for the Fiscal 2nd Quarter Ended September 30, 2022



2nd quarter

 ended

Sep. 30, 2021

 (3 months period)

2nd quarter
ended

Sep. 30, 2022

 (3 months period)

Difference

Honda Group

Unit Sales*1

(million units)

Motorcycles

4.294

4.951

+0.657

Automobiles*3

0.917

0.970

+0.053

Power Products

1.522

1.389

-0.133

Consolidated

Unit Sales*2

(million units)

Motorcycles

2.695

3.371

+0.676

Automobiles*3

0.574

0.564

-0.010

Power Products

1.522

1.389

-0.133

Financial

Results

(billion yen)

Sales revenue

3,404.3

4,255.7

+851.3

Operating profit

198.9

231.2

+32.2

Share of profit of investments

accounted for using the equity method

51.3

60.3

+9.0

Profit before income taxes

249.0

278.4

+29.3

Profit for the period

attributable to owners of the

parent

166.6

189.2

+22.5

Honda's

Average

Rate (yen)

USD=

110

138

JPY depreciated
against the USD
by 28 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.

For Additional Information, please visit: 
https://global.honda/investors/library/financialresult.html 

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SOURCE Honda Motor Co., Ltd.

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