Consolidated Financial Summary for the Fiscal First Half Ended September 30, 2018

TOKYO, Oct. 30, 2018 /PRNewswire/ -- Honda Motor Co., Ltd (NYSE: HMC) announced its consolidated financial results for the fiscal first half ended September 30, 2018.

Consolidated sales revenue for the fiscal first half (April 1, 2018 through September 30, 2018) amounted to 7,865.8 billion yen, an increase of 5.0% compared to the same period last year, due primarily to an increase in sales revenue from all businesses.

Consolidated operating profit for the fiscal first half amounted to 513.8 billion yen, an increase of 21.7% compared to the same period last year, due primarily to an increase in profit related to changes in sales volume and model mix resulting from strong sales of motorcycles, mainly in Asian countries such as India and Vietnam, as well as cost reduction efforts. This also was due to the loss related to the settlement of multidistrict class action litigation recorded during the same period last year.

Consolidated profit before income taxes for the fiscal first half amounted to 641.3 billion yen, an increase of 11.0% compared to the same period last year. Consolidated profit for the fiscal first half attributable to owners of the parent amounted to 455.1 billion yen, an increase of 19.3% compared to the same period last year.

Honda set an all-time fiscal first half record for consolidated sales revenue, consolidated operating profit, consolidated profit before income taxes and consolidated profit for the period attributable to owners of the parent.

Reflecting various factors such as an increase in consolidated motorcycle unit sales, an increase in profit resulting from the structural improvement of each business and favorable foreign currency effects, the following upward revisions were made to the previously announced consolidated financial forecasts for the current fiscal year (April 1, 2018 through March 31, 2019). The forecast for consolidated sales revenue was revised upward by 350.0 billion yen to 15.8 trillion yen, operating profit was revised upward by 80.0 billion yen to 790.0 billion yen, and the forecast for profit for the current fiscal year attributable to owners of the parent was revised upward by 60.0 billion yen to 675.0 billion yen.

The quarterly dividend for the fiscal second quarter will be 28 yen per share (an increase of 4 yen per share compared to the same period last year), and total dividends to be paid for the fiscal year ending March 31, 2019 are expected to be 111 yen per share (an increase of 11 yen per share compared to the previous fiscal year).

*1 Honda Group Unit Sales is the total unit sales of the 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 the 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.

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SOURCE Honda Motor Co., Ltd.