03.02.2010 Consolidated Financial Summary for the Fiscal 3rd Quarter ended December 31, 2009 TOKYO, Japan, February 3, 2010 -- Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal third quarter ended December 31, 2009.
Consolidated Financial Summary: Results for Fiscal 3rd Quarter (3 months ended December 31, 2009)
Consolidated net sales and other operating revenue for the fiscal third quarter ended December 31, 2009 amounted to JPY 2,240.7 billion, a decrease of 11.5% compared to the same period last year, primarily due to the unfavorable impact of currency translation and decreased sales in automobile business.
Consolidated operating income amounted to JPY 176.9 billion, an increase of 72.7% from the same period last year, due to decreased selling, general and administrative (SG&A) expenses and R&D expenses and continuing cost reduction efforts, which more than offset decreased profit from lower revenue and the unfavorable currency effects by the appreciation of the Japanese yen.
Consolidated income before income taxes amounted to JPY 171.0 billion, an increase of 97.1% from the same period last year, and net income attributable to Honda Motor Co., Ltd. amounted to JPY 134.6 billion, an increase of 565.1% compared to the same period last year.
Exchange rate: Honda's average rates for this fiscal 3rd quarter: JPY 89=USD1 / JPY 133=Euro1 Honda's average rates for fiscal 3rd quarter of the previous year: JPY 96=USD1 / JPY 126=Euro1
Results for Fiscal Nine Months (9 month period from April 1, 2009 through December 31, 2009) Consolidated net sales and other operating revenue for the fiscal nine months amounted to JPY 6,299.6 billion, a decrease of 23.4% compared to the same period last year, primarily due to decreased sales in automobile business and the unfavorable impact of currency translation.
Consolidated operating income amounted to JPY 267.6 billion, a decrease of 42.0% compared to the same period last year, due to decreased profit from lower revenue, the unfavorable currency effects by the appreciation of the Japanese yen, and increased cost per unit due to decreased production, which more than offset decreased SG&A and R&D expenses and continuing cost reduction efforts.
Consolidated income before income taxes amounted to JPY 242.6 billion, a decrease of 47.3% from the same period last year, and net income attributable to Honda Motor Co., Ltd. amounted to JPY 196.2 billion, a decrease of 38.1% compared to the same period last year.
Exchange rate: Honda's average rates for the current fiscal 9 months: JPY 93=USD1 / JPY133=Euro1 Honda's average rates for fiscal 9 months of the previous year: JPY103=USD1 / JPY149=Euro1
(*) During the fiscal year ended March 31, 2009, a subsidiary of the Company changed its fiscal year-end from December 31 to March 31. As a result, the Company eliminated the previously existed three month difference between the reporting periods of the Company and the subsidiary in the consolidated financial statements. The elimination of the lag period which was adjusted in the three months ended March 31, 2009 represented a change in accounting principles and was reported by retrospective application. Honda adjusted its consolidated financial statements for the nine months ended December 31, 2008 to conform to the presentation used for the fiscal year ended March 31, 2009.
Consolidated Unit Sales (Consolidated unit sales are the total of sales of completed products of Honda and its consolidated subsidiaries, and sales of parts for local production at Honda's affiliates accounted for under the equity method.)
Unit sales of approximately 1.60 million units for the current fiscal 3rd quarter and 4.17 million units for the current fiscal nine months of Honda-brand motorcycle products that are manufactured and sold by overseas affiliates accounted for under the equity method but do not use any parts supplied from Honda and its consolidated subsidiaries, are not included in the total motorcycle sales described above, in conformity with U.S. generally accepted accounting principles.
Forecasts for the Fiscal Year ending March 31, 2010 Honda's financial forecasts for the fiscal year ending March 31, 2010 are described below, with assumption of the average currency exchange rates of JPY 92 = U.S. dollar 1 (4th quarter: 87) and JPY 131 = Euro 1 (4th quarter: 127) for the fiscal year.
Exchange rate: Honda's average rates for the fiscal year ended March 31, 2009: JPY 101=USD1 / JPY 142=Euro1
Consolidated Unit Sales Forecasts
Unit sales of approximately 5.72 million units of Honda-brand motorcycle products that are manufactured and sold by overseas affiliates accounted for under the equity method, but do not use any parts supplied from Honda and its consolidated subsidiaries are not included in this total motorcycle sales described above, in conformity with U.S. generally accepted accounting principles.
At the board of directors meeting held today, Honda resolved that JPY 10 of the quarterly dividend per share of common stock to be paid with the record date of December 31, 2009. The year end dividend and the total annual dividend per share of common stock to be paid for the fiscal year is expected to be JPY10 and JPY 36 per share, respectively.
<Reference: Changes in forecasts for the fiscal year ending March 31, 2010 compared to the previous forecasts announced on October 27, 2009>
Exchange rate: Honda's average rates used for the revised forecasts: JPY 92=USD1 / JPY131=Euro1
Honda's average rates used for the previous forecasts: JPY 90=USD1 / JPY129=Euro1
TOKYO, Japan, February 3, 2010 -- Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal third quarter ended December 31, 2009.
Consolidated Financial Summary: Results for Fiscal 3rd Quarter (3 months ended December 31, 2009)
Consolidated net sales and other operating revenue for the fiscal third quarter ended December 31, 2009 amounted to JPY 2,240.7 billion, a decrease of 11.5% compared to the same period last year, primarily due to the unfavorable impact of currency translation and decreased sales in automobile business.
Consolidated operating income amounted to JPY 176.9 billion, an increase of 72.7% from the same period last year, due to decreased selling, general and administrative (SG&A) expenses and R&D expenses and continuing cost reduction efforts, which more than offset decreased profit from lower revenue and the unfavorable currency effects by the appreciation of the Japanese yen.
Consolidated income before income taxes amounted to JPY 171.0 billion, an increase of 97.1% from the same period last year, and net income attributable to Honda Motor Co., Ltd. amounted to JPY 134.6 billion, an increase of 565.1% compared to the same period last year.
Exchange rate: Honda's average rates for this fiscal 3rd quarter: JPY 89=USD1 / JPY 133=Euro1 Honda's average rates for fiscal 3rd quarter of the previous year: JPY 96=USD1 / JPY 126=Euro1
Results for Fiscal Nine Months (9 month period from April 1, 2009 through December 31, 2009) Consolidated net sales and other operating revenue for the fiscal nine months amounted to JPY 6,299.6 billion, a decrease of 23.4% compared to the same period last year, primarily due to decreased sales in automobile business and the unfavorable impact of currency translation.
Consolidated operating income amounted to JPY 267.6 billion, a decrease of 42.0% compared to the same period last year, due to decreased profit from lower revenue, the unfavorable currency effects by the appreciation of the Japanese yen, and increased cost per unit due to decreased production, which more than offset decreased SG&A and R&D expenses and continuing cost reduction efforts.
Consolidated income before income taxes amounted to JPY 242.6 billion, a decrease of 47.3% from the same period last year, and net income attributable to Honda Motor Co., Ltd. amounted to JPY 196.2 billion, a decrease of 38.1% compared to the same period last year.
Exchange rate: Honda's average rates for the current fiscal 9 months: JPY 93=USD1 / JPY133=Euro1 Honda's average rates for fiscal 9 months of the previous year: JPY103=USD1 / JPY149=Euro1
(*) During the fiscal year ended March 31, 2009, a subsidiary of the Company changed its fiscal year-end from December 31 to March 31. As a result, the Company eliminated the previously existed three month difference between the reporting periods of the Company and the subsidiary in the consolidated financial statements. The elimination of the lag period which was adjusted in the three months ended March 31, 2009 represented a change in accounting principles and was reported by retrospective application. Honda adjusted its consolidated financial statements for the nine months ended December 31, 2008 to conform to the presentation used for the fiscal year ended March 31, 2009.
Consolidated Unit Sales (Consolidated unit sales are the total of sales of completed products of Honda and its consolidated subsidiaries, and sales of parts for local production at Honda's affiliates accounted for under the equity method.)
Unit sales of approximately 1.60 million units for the current fiscal 3rd quarter and 4.17 million units for the current fiscal nine months of Honda-brand motorcycle products that are manufactured and sold by overseas affiliates accounted for under the equity method but do not use any parts supplied from Honda and its consolidated subsidiaries, are not included in the total motorcycle sales described above, in conformity with U.S. generally accepted accounting principles.
Forecasts for the Fiscal Year ending March 31, 2010 Honda's financial forecasts for the fiscal year ending March 31, 2010 are described below, with assumption of the average currency exchange rates of JPY 92 = U.S. dollar 1 (4th quarter: 87) and JPY 131 = Euro 1 (4th quarter: 127) for the fiscal year.
Exchange rate: Honda's average rates for the fiscal year ended March 31, 2009: JPY 101=USD1 / JPY 142=Euro1
Consolidated Unit Sales Forecasts
Unit sales of approximately 5.72 million units of Honda-brand motorcycle products that are manufactured and sold by overseas affiliates accounted for under the equity method, but do not use any parts supplied from Honda and its consolidated subsidiaries are not included in this total motorcycle sales described above, in conformity with U.S. generally accepted accounting principles.
At the board of directors meeting held today, Honda resolved that JPY 10 of the quarterly dividend per share of common stock to be paid with the record date of December 31, 2009. The year end dividend and the total annual dividend per share of common stock to be paid for the fiscal year is expected to be JPY10 and JPY 36 per share, respectively.
<Reference: Changes in forecasts for the fiscal year ending March 31, 2010 compared to the previous forecasts announced on October 27, 2009>
Exchange rate: Honda's average rates used for the revised forecasts: JPY 92=USD1 / JPY131=Euro1
Honda's average rates used for the previous forecasts: JPY 90=USD1 / JPY129=Euro1
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