Table of Contents

No.1-7628

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF NOVEMBER 2022

COMMISSION FILE NUMBER: 1-07628

HONDA GIKEN KOGYO KABUSHIKI KAISHA

(Name of registrant)

HONDA MOTOR CO., LTD.

(Translation of registrant’s name into English)

1-1, Minami-Aoyama 2-chome, Minato-ku, Tokyo 107-8556, Japan

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  ☒    Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 

Table of Contents

Table of Contents

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

HONDA GIKEN KOGYO KABUSHIKI KAISHA (HONDA MOTOR CO., LTD.)

/s/ Masaharu Hirose

Masaharu Hirose
General Manager
Finance Division
Honda Motor Co., Ltd.

Date: November 9, 2022

Table of Contents

November 9, 2022

HONDA MOTOR CO., LTD. REPORTS

CONSOLIDATED FINANCIAL RESULTS

FOR THE FISCAL SECOND QUARTER AND

THE FISCAL FIRST HALF YEAR ENDED SEPTEMBER 30, 2022

Tokyo, November 9, 2022 — Honda Motor Co., Ltd. today announced its consolidated financial results for the fiscal second quarter and the fiscal first half year ended September 30, 2022.

 

—1—

Table of Contents

[1] Condensed Consolidated Statements of Financial Position

March 31, 2022 and September 30, 2022

 

                                                             
     Yen (millions)  
     Mar. 31, 2022     Sep. 30, 2022  

Assets

     

Current assets:

     

Cash and cash equivalents

      3,674,931       3,935,348  

Trade receivables

      896,768       912,679  

Receivables from financial services

      1,694,113       1,881,825  

Other financial assets

      217,743       263,709  

Inventories

      1,918,548       2,265,163  

Other current assets

      439,322                              435,975  
  

 

 

    

 

 

  

Total current assets

      8,841,425       9,694,699  
  

 

 

    

 

 

  

Non-current assets:

     

Investments accounted for using the equity method

      967,404       1,118,036  

Receivables from financial services

      3,740,383       4,038,736  

Other financial assets

      819,654       931,357  

Equipment on operating leases

      5,159,129       5,314,541  

Property, plant and equipment

      3,079,407       3,287,862  

Intangible assets

      849,507       869,798  

Deferred tax assets

                               91,592       98,920  

Other non-current assets

      424,652       473,944  
  

 

 

    

 

 

  

Total non-current assets

      15,131,728       16,133,194  
  

 

 

    

 

 

  

Total assets

      23,973,153       25,827,893  
  

 

 

    

 

 

  

Liabilities and Equity

     

Current liabilities:

     

Trade payables

      1,236,233       1,295,080  

Financing liabilities

      3,118,304       3,524,876  

Accrued expenses

      375,601       341,137  

Other financial liabilities

      236,900       490,582  

Income taxes payable

      96,116       77,458  

Provisions

      268,388       287,019  

Other current liabilities

      672,857       731,657  
  

 

 

    

 

 

  

Total current liabilities

      6,004,399        6,747,809  
  

 

 

    

 

 

  

Non-current liabilities:

     

Financing liabilities

      4,984,252       4,768,693  

Other financial liabilities

      282,083       285,992  

Retirement benefit liabilities

      282,054       317,975  

Provisions

      253,625       265,801  

Deferred tax liabilities

      990,754       1,086,498  

Other non-current liabilities

      403,440       444,265  
  

 

 

    

 

 

  

Total non-current liabilities

      7,196,208       7,169,224  
  

 

 

    

 

 

  

Total liabilities

      13,200,607       13,917,033  
  

 

 

    

 

 

  

Equity:

     

Common stock

      86,067       86,067  

Capital surplus

      185,495       185,453  

Treasury stock

      (328,309 )      (357,050 ) 

Retained earnings

      9,539,133       9,766,346  

Other components of equity

      990,438       1,928,850  
  

 

 

    

 

 

  

Equity attributable to owners of the parent

      10,472,824       11,609,666  

Non-controlling interests

      299,722       301,194  
  

 

 

    

 

 

  

Total equity

      10,772,546       11,910,860  
  

 

 

    

 

 

  

Total liabilities and equity

      23,973,153       25,827,893  
  

 

 

    

 

 

  

 

—2—

Table of Contents

[2] Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income

Condensed Consolidated Statements of Income

For the six months ended September 30, 2021 and 2022

 

                                                             
     Yen (millions)  
     Six months ended
Sep. 30, 2021		     Six months ended
Sep. 30, 2022		  

Sales revenue

      6,988,228       8,085,304  

Operating costs and expenses:

     

Cost of sales

      (5,561,775 )      (6,505,911 ) 

Selling, general and administrative

      (625,603 )      (744,778 ) 

Research and development

      (358,654 )      (381,163 ) 
  

 

 

    

 

 

  

Total operating costs and expenses

      (6,546,032 )      (7,631,852 ) 
  

 

 

    

 

 

  

Operating profit

      442,196       453,452  
  

 

 

    

 

 

  

Share of profit of investments accounted for using the equity method

      107,246       82,946  

Finance income and finance costs:

     

Interest income

      11,080       25,025  

Interest expense

      (6,428 )      (15,650 ) 

Other, net

      6,302       (29,942 ) 
  

 

 

    

 

 

  

Total finance income and finance costs

      10,954       (20,567 ) 
  

 

 

    

 

 

  

Profit before income taxes

      560,396        515,831   

Income tax expense

      (151,795 )      (147,092 ) 
  

 

 

    

 

 

  

Profit for the period

      408,601       368,739  
  

 

 

    

 

 

  

Profit for the period attributable to:

     

Owners of the parent

                             389,209                              338,514  

Non-controlling interests

      19,392       30,225  
     Yen  

Earnings per share attributable to owners of the parent

     

Basic and diluted

      225.43       198.08  

 

—3—

Table of Contents

Condensed Consolidated Statements of Comprehensive Income

For the six months ended September 30, 2021 and 2022

 

                                                             
     Yen (millions)  
     Six months ended
Sep. 30, 2021		     Six months ended
Sep. 30, 2022		  

Profit for the period

         408,601          368,739  

Other comprehensive income, net of tax:

     

Items that will not be reclassified to profit or loss

     

Remeasurements of defined benefit plans

      —         (11 ) 

Net changes in revaluation of financial assets measured at fair value through other comprehensive income

      58,018       (27,735 ) 

Share of other comprehensive income of investments accounted for using the equity method

      1,320       (1,109 ) 

Items that may be reclassified subsequently to profit or loss

     

Net changes in revaluation of financial assets measured at fair value through other comprehensive income

      (18 )      (893 ) 

Exchange differences on translating foreign operations

      37,049       917,707  

Share of other comprehensive income of investments accounted for using the equity method

      26,676        69,148  
  

 

 

    

 

 

  

Total other comprehensive income, net of tax

      123,045       957,107  
  

 

 

    

 

 

  

Comprehensive income for the period

      531,646       1,325,846  
  

 

 

    

 

 

  

Comprehensive income for the period attributable to:

     

Owners of the parent

                             514,720                           1,276,881   

Non-controlling interests

      16,926       48,965  

 

—4—

Table of Contents

Condensed Consolidated Statements of Income

For the three months ended September 30, 2021 and 2022

 

     Yen (millions)  
     Three months ended
Sep. 30, 2021		     Three months ended
Sep. 30, 2022		  

Sales revenue

      3,404,358       4,255,754  

Operating costs and expenses:

     

Cost of sales

      (2,715,355 )      (3,441,741 ) 

Selling, general and administrative

      (308,589 )      (383,205 ) 

Research and development

      (181,428 )      (199,572 ) 
  

 

 

    

 

 

  

Total operating costs and expenses

      (3,205,372 )      (4,024,518 ) 
  

 

 

    

 

 

  

Operating profit

      198,986       231,236  
  

 

 

    

 

 

  

Share of profit of investments accounted for using the equity method

      51,315       60,337  

Finance income and finance costs:

     

Interest income

      5,880       15,893  

Interest expense

      (3,503 )      (8,223 ) 

Other, net

      (3,642 )      (20,816 ) 
  

 

 

    

 

 

  

Total finance income and finance costs

      (1,265 )      (13,146 ) 
  

 

 

    

 

 

  

Profit before income taxes

      249,036       278,427  

Income tax expense

      (78,155 )      (73,268 ) 
  

 

 

    

 

 

  

Profit for the period

      170,881        205,159   
  

 

 

    

 

 

  

Profit for the period attributable to:

     

Owners of the parent

                           166,697                            189,295  

Non-controlling interests

      4,184       15,864  
     Yen  

Earnings per share attributable to owners of the parent

     

Basic and diluted

      96.56       110.85  

 

—5—

Table of Contents

Condensed Consolidated Statements of Comprehensive Income

For the three months ended September 30, 2021 and 2022

 

     Yen (millions)  
     Three months ended
Sep. 30, 2021		     Three months ended
Sep. 30, 2022		  

Profit for the period

         170,881          205,159  

Other comprehensive income, net of tax:

     

Items that will not be reclassified to profit or loss

     

Remeasurements of defined benefit plans

      —         (8 ) 

Net changes in revaluation of financial assets measured at fair value through other comprehensive income

      (4,564 )      (40,167 ) 

Share of other comprehensive income of investments accounted for using the equity method

      372       (665 ) 

Items that may be reclassified subsequently to profit or loss

     

Net changes in revaluation of financial assets measured at fair value through other comprehensive income

      (48 )      (557 ) 

Exchange differences on translating foreign operations

      7,739       268,761  

Share of other comprehensive income of investments accounted for using the equity method

      7,368        22,592   
  

 

 

    

 

 

  

Total other comprehensive income, net of tax

      10,867       249,956  
  

 

 

    

 

 

  

Comprehensive income for the period

      181,748       455,115  
  

 

 

    

 

 

  

Comprehensive income for the period attributable to:

     

Owners of the parent

                             178,448                              435,831  

Non-controlling interests

      3,300       19,284  

 

—6—

Table of Contents

[3] Condensed Consolidated Statements of Changes in Equity

For the six months ended September 30, 2021

 

    Yen (millions)  
    Equity attributable to owners of the parent     Non-controlling
interests		     Total
equity		  
    Common
stock		     Capital
surplus		     Treasury
stock		     Retained
earnings		     Other
components
of equity		     Total  

Balance as of April 1, 2021

     86,067       172,049       (273,786 )      8,901,266       196,710       9,082,306       290,533       9,372,839  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income for the period

                

Profit for the period

           389,209         389,209       19,392       408,601  

Other comprehensive income, net of tax

             125,511       125,511       (2,466 )      123,045  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total comprehensive income for the period

           389,209       125,511       514,720       16,926       531,646  

Reclassification to retained earnings

           (92 )      92       —           —    

Transactions with owners and other

                

Dividends paid

           (93,272 )        (93,272 )      (39,975 )      (133,247 ) 

Purchases of treasury stock

         (19,470 )          (19,470 )        (19,470 ) 

Disposal of treasury stock

         443           443         443  

Share-based payment transactions

       (267 )            (267 )        (267 ) 

Equity transactions and others

       13,720       7,656           21,376       (21,384 )      (8 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total transactions with owners and other

       13,453       (11,371 )      (93,272 )        (91,190 )      (61,359 )      (152,549 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance as of September 30, 2021

     86,067       185,502       (285,157 )      9,197,111          322,313         9,505,836       246,100         9,751,936  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

For the six months ended September 30, 2022

 

    Yen (millions)  
    Equity attributable to owners of the parent     Non-controlling
interests		     Total
equity		  
    Common
stock		     Capital
surplus		     Treasury
stock		     Retained
earnings		     Other
components
of equity		     Total  

Balance as of April 1, 2022

     86,067       185,495       (328,309 )      9,539,133       990,438       10,472,824       299,722       10,772,546  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income for the period

                

Profit for the period

           338,514         338,514       30,225       368,739  

Other comprehensive income, net of tax

             938,367       938,367       18,740       957,107  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total comprehensive income for the period

           338,514       938,367       1,276,881       48,965       1,325,846  

Reclassification to retained earnings

           (45 )      45       —           —    

Transactions with owners and other

                

Dividends paid

           (111,256 )        (111,256 )      (47,493 )      (158,749 ) 

Purchases of treasury stock

         (29,004 )          (29,004 )        (29,004 ) 

Disposal of treasury stock

         263           263         263  

Share-based payment transactions

       (42 )            (42 )        (42 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total transactions with owners and other

       (42 )      (28,741 )      (111,256 )        (140,039 )      (47,493 )      (187,532 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance as of September 30, 2022

     86,067       185,453       (357,050 )      9,766,346       1,928,850       11,609,666       301,194       11,910,860  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

—7—

Table of Contents

[4] Condensed Consolidated Statements of Cash Flows

For the six months ended September 30, 2021 and 2022

 

     Yen (millions)  
     Six months ended
Sep. 30, 2021		     Six months ended
Sep. 30, 2022		  

Cash flows from operating activities:

     

Profit before income taxes

      560,396       515,831  

Depreciation, amortization and impairment losses excluding equipment on operating leases

      307,990       357,304  

Share of profit of investments accounted for using the equity method

      (107,246 )      (82,946 ) 

Finance income and finance costs, net

      (21,478 )      (69,589 ) 

Interest income and interest costs from financial services, net

      (79,985 )      (75,593 ) 

Changes in assets and liabilities

     

Trade receivables

      137,863       32,586  

Inventories

      (204,437 )      (129,729 ) 

Trade payables

      (212,422 )      (49,839 ) 

Accrued expenses

      (136,849 )      (62,296 ) 

Provisions and retirement benefit liabilities

      (118,571 )      (8,720 ) 

Receivables from financial services

      148,032       302,319  

Equipment on operating leases

      (101,068 )                             493,778  

Other assets and liabilities

      28,415       165,071  

Other, net

      (5,829 )      1,465  

Dividends received

      101,140       131,572  

Interest received

      118,940       143,741  

Interest paid

      (45,457 )      (68,304 ) 

Income taxes paid, net of refunds

      (71,348 )      (255,317 ) 
  

 

 

    

 

 

  

Net cash provided by operating activities

      298,086       1,341,334  

Cash flows from investing activities:

     

Payments for additions to property, plant and equipment

      (140,739 )      (249,421 ) 

Payments for additions to and internally developed intangible assets

      (81,649 )      (76,441 ) 

Proceeds from sales of property, plant and equipment and intangible assets

      6,554       13,623  

Payments for acquisitions of investments accounted for using the equity method

      —         (10,340 ) 

Payments for acquisitions of other financial assets

      (221,150 )      (322,025 ) 

Proceeds from sales and redemptions of other financial assets

                             210,274       215,952  
  

 

 

    

 

 

  

Net cash used in investing activities

      (226,710 )      (428,652 ) 

Cash flows from financing activities:

     

Proceeds from short-term financing liabilities

      4,096,198       4,219,027  

Repayments of short-term financing liabilities

      (4,232,433 )      (4,152,744 ) 

Proceeds from long-term financing liabilities

      943,620       362,289  

Repayments of long-term financing liabilities

      (830,634 )      (1,165,699 ) 

Dividends paid to owners of the parent

      (93,272 )      (111,256 ) 

Dividends paid to non-controlling interests

      (38,155 )      (36,752 ) 

Purchases and sales of treasury stock, net

      (19,027 )      (28,741 ) 

Repayments of lease liabilities

      (38,988 )      (38,890 ) 

Other, net

      (2 )      —    
  

 

 

    

 

 

  

Net cash used in financing activities

      (212,693 )      (952,766 ) 

Effect of exchange rate changes on cash and cash equivalents

      2,574       300,501  
  

 

 

    

 

 

  

Net change in cash and cash equivalents

      (138,743 )      260,417  

Cash and cash equivalents at beginning of year

      2,758,020       3,674,931  
  

 

 

    

 

 

  

Cash and cash equivalents at end of period

      2,619,277       3,935,348  
  

 

 

    

 

 

  

 

—8—

Table of Contents

[5] Assumptions for Going Concern

None

[6] Notes to Consolidated Financial Statements

[A] Segment Information

Based on Honda’s organizational structure and characteristics of products and services, Honda discloses segment information in four categories: Reportable segments of Motorcycle business, Automobile business and Financial services business, and other segments that are not reportable. The other segments are combined and disclosed in Power product and other businesses. Segment information is based on the components of Honda for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The accounting policies used for segment information are consistent with the accounting policies used in the Company’s condensed consolidated interim financial statements.

Principal products and services, and functions of each segment are as follows:

 

Segment

  

Principal products and services

  

Functions

Motorcycle Business

   Motorcycles, all-terrain vehicles (ATVs), side-by-sides (SxS) and relevant parts  

Research and development

Manufacturing

Sales and related services

Automobile Business

   Automobiles and relevant parts  

Research and development

Manufacturing

Sales and related services

Financial Services Business

   Financial services  

Retail loan and lease related to Honda products

Others

Power Product and Other Businesses*

   Power products and relevant parts, and others  

Research and development

Manufacturing
Sales and related services

Others

Explanatory note:

 

*

Life creation business has been renamed Power product business as a result of organizational changes effective April 1, 2022.

Segment information based on products and services

As of and for the six months ended September 30, 2021

 

     Yen (millions)  
     Motorcycle
Business		      Automobile
Business		      Financial
Services
Business		      Power Product
and Other
Businesses		      Segment
Total		      Reconciling
Items		     Consolidated  

Sales revenue:

                    

External customers

      1,023,730        4,335,269        1,442,558        186,671        6,988,228        —         6,988,228  

Intersegment

      —          99,655        1,290        11,033        111,978        (111,978 )      —    
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Total

      1,023,730        4,434,924        1,443,848        197,704        7,100,206        (111,978 )      6,988,228  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Segment profit (loss)

      148,137        117,104        176,814        141        442,196        —         442,196  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Segment assets

      1,379,823          8,446,421        10,902,969        357,978        21,087,191           817,075       21,904,266  

Depreciation and amortization

      33,325        263,951        438,425        8,414        744,115        —         744,115  

Capital expenditures

      17,337        191,267        1,220,048        7,402        1,436,054        —         1,436,054  

As of and for the six months ended September 30, 2022

 

     Yen (millions)  
     Motorcycle
Business		      Automobile
Business		      Financial
Services
Business		      Power Product
and Other
Businesses		      Segment
Total		      Reconciling
Items		     Consolidated  

Sales revenue:

                    

External customers

      1,412,682        4,920,192        1,527,915        224,515        8,085,304        —         8,085,304  

Intersegment

      —          83,742        1,181        11,575        96,498        (96,498 )      —    
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Total

      1,412,682        5,003,934        1,529,096        236,090        8,181,802        (96,498 )      8,085,304  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Segment profit (loss)

      224,775        63,568        153,049        12,060        453,452        —         453,452  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Segment assets

      1,614,071        10,241,643        12,041,882        469,044        24,366,640        1,461,253       25,827,893  

Depreciation and amortization

      33,600        282,801        465,827        9,615        791,843        —         791,843  

Capital expenditures

      20,451        304,206        712,321        5,779        1,042,757        —         1,042,757  

 

—9—

Table of Contents

For the three months ended September 30, 2021

 

     Yen (millions)  
     Motorcycle
Business		      Automobile
Business		      Financial
Services
Business		      Power Product
and Other
Businesses		     Segment
Total		      Reconciling
Items		     Consolidated  

Sales revenue:

                                        

External customers

      505,527        2,128,833        675,986        94,012       3,404,358        —         3,404,358  

Intersegment

      —          53,637        364        4,445       58,446        (58,446 )      —    
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Total

         505,527          2,182,470             676,350          98,457          3,462,804        (58,446 )        3,404,358  
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Segment profit (loss)

      67,442        46,415        84,597        532       198,986        —         198,986  
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

For the three months ended September 30, 2022

 

     Yen (millions)  
     Motorcycle
Business		      Automobile
Business		      Financial
Services
Business		      Power Product
and Other
Businesses		     Segment
Total		      Reconciling
Items		     Consolidated  

Sales revenue:

                                        

External customers

      736,632        2,628,707        778,531        111,884       4,255,754        —         4,255,754  

Intersegment

      —          47,056        502        5,169       52,727        (52,727 )      —    
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Total

         736,632          2,675,763             779,033        117,053          4,308,481        (52,727 )        4,255,754  
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Segment profit (loss)

      126,946        25,306        74,248        4,736       231,236        —         231,236  
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Explanatory notes:

 

1.

Intersegment sales revenues are generally made at values that approximate arm’s-length prices.

2.

Reconciling items include elimination of intersegment transactions and balances as well as unallocated corporate assets. Unallocated corporate assets, included in reconciling items as of September 30, 2021 and 2022 amounted to JPY 954,524 million and JPY 1,569,670 million, respectively, which consist primarily of the Company’s cash and cash equivalents and financial assets measured at fair value through other comprehensive income.

In addition to the disclosure required by IFRS, Honda provides the following supplemental information for the financial statements users:

Supplemental geographical information based on the location of the Company and its subsidiaries

As of and for the six months ended September 30, 2021

 

     Yen (millions)  
     Japan      North
America		      Europe      Asia      Other
Regions		      Total      Reconciling
Items		     Consolidated  

Sales revenue:

                       

External customers

      1,106,802        3,831,856        318,011        1,450,916        280,643        6,988,228        —         6,988,228  

Inter-geographic areas

      992,233        236,406        80,288        309,897        5,139        1,623,963        (1,623,963 )      —    
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Total

      2,099,035        4,068,262        398,299        1,760,813        285,782        8,612,191        (1,623,963 )      6,988,228  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Operating profit (loss)

      15,049        279,456        12,867        133,867        17,067        458,306        (16,110 )      442,196  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Assets

      5,042,889        12,216,115        535,349        3,288,559        517,500        21,600,412        303,854       21,904,266  

Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets

      3,022,583        5,175,359        57,248        637,098        135,257        9,027,545        —         9,027,545  

As of and for the six months ended September 30, 2022

 

     Yen (millions)  
     Japan      North
America		      Europe      Asia      Other
Regions		      Total      Reconciling
Items		     Consolidated  

Sales revenue:

                       

External customers

      1,144,602        4,216,445        305,943        2,016,454        401,860        8,085,304        —         8,085,304  

Inter-geographic areas

      1,040,290        246,029        13,529        379,282        2,679        1,681,809        (1,681,809 )      —    
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Total

      2,184,892        4,462,474        319,472        2,395,736        404,539        9,767,113        (1,681,809 )      8,085,304  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Operating profit (loss)

      80,735        144,015        7,690        202,740        29,536        464,716        (11,264 )      453,452  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Assets

      5,226,252        14,418,647        597,755        4,024,209        682,278        24,949,141        878,752       25,827,893  

Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets

      2,959,919        5,836,560        47,990        711,424        181,839        9,737,732        —         9,737,732  

 

—10—

Table of Contents

For the three months ended September 30, 2021

 

     Yen (millions)  
     Japan      North
America		      Europe      Asia      Other
Regions		      Total      Reconciling
Items		     Consolidated  

Sales revenue:

                       

External customers

      543,343        1,846,104        147,768        721,421        145,722        3,404,358        —         3,404,358  

Inter-geographic areas

      479,841        114,429        26,283        162,109        3,270        785,932        (785,932 )      —    
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Total

      1,023,184          1,960,533        174,051           883,530        148,992          4,190,290           (785,932 )        3,404,358  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Operating profit (loss)

      13,320        126,088        2,868        52,432        14,453        209,161        (10,175 )      198,986  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

For the three months ended September 30, 2022

 

     Yen (millions)  
     Japan      North
America		      Europe      Asia      Other
Regions		      Total      Reconciling
Items		     Consolidated  

Sales revenue:

                       

External customers

      609,572        2,183,792        145,207        1,115,446        201,737        4,255,754        —         4,255,754  

Inter-geographic areas

      559,064        134,138        6,689        211,486        2,213        913,590        (913,590 )      —    
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Total

      1,168,636          2,317,930        151,896        1,326,932        203,950          5,169,344           (913,590 )        4,255,754  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Operating profit (loss)

      55,991        52,997        4,274        116,266        15,762        245,290        (14,054 )      231,236  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Explanatory notes:

 

1.

Major countries in each geographic area:

 

North America

    United States, Canada, Mexico

Europe

    United Kingdom, Germany, Belgium, Italy, France

Asia

    Thailand, China, India, Vietnam, Malaysia

Other Regions

    Brazil, Australia

 

2.

Sales revenues between geographic areas are generally made at values that approximate arm’s-length prices.

 

3.

Reconciling items include elimination of inter-geographic transactions and balances as well as unallocated corporate assets. Unallocated corporate assets, included in reconciling items as of September 30, 2021 and 2022 amounted to JPY 954,524 million and JPY 1,569,670 million, respectively, which consist primarily of the Company’s cash and cash equivalents and financial assets measured at fair value through other comprehensive income.

 

—11—

Table of Contents

[B] Other

Loss related to airbag inflators

Honda has been conducting market-based measures in relation to airbag inflators. Honda recognizes a provision for specific warranty costs when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. There is a possibility that Honda will need to recognize additional provisions when new evidence related to the product recalls arise, however, it is not possible for Honda to reasonably estimate the amount and timing of potential future losses as of the date of this report.

 

—12—

Table of Contents

[7] Forecast for the Fiscal Year Ending March 31, 2023

 

     FY 2022 results      FY 2023 forecasts      Difference
compared to
FY 2022 results		  

Sales revenue (billions of yen)

      14,552.6        17,400.0        + 2,847.3  

Operating profit (billions of yen)

      871.2        870.0        - 1.2  

Profit before income taxes (billions of yen)

      1,070.1        1,080.0        + 9.8  

Profit for the year (billions of yen)

      760.7        795.0        + 34.2  

Profit for the year attributable to owners of the parent (billions of yen)

      707.0        725.0        + 17.9  

Earnings per share attributable to owners of the parent

         

Basic and diluted (yen)

      411.09        426.98        + 15.89  

[8] Dividend per Share of Common Stock

 

     FY 2022      FY 2023  
     Results      Results      Forecasts  

Interim dividend (yen)

      55.00        60.00     

Year-end dividend (yen)

      65.00           60.00  

Total annual dividend (yen)

      120.00           120.00  

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. The various factors for increases and decreases in profit have been classified in accordance with a method that Honda considers reasonable.

 

—13—

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