Honda Motor Co., Ltd. (HMC:NYSE) announced its Consolidated Financial Summary for the Fiscal Year Ended March 31, 2022 and Forecasts for the Fiscal Year Ending March 31, 2023

TOKYO, May 13, 2022 /PRNewswire/ -- 

• Despite certain unfavorable factors such as the resurgence of COVID-19, a decrease in automobile unit sales due to the semiconductor supply shortage and an increase in the cost of raw materials, consolidated operating profit for the fiscal year amounted to 871.2 billion yen, a year-on-year increase by 211.0 billion yen, due primarily to success in reducing costs and controlling incentives, and favorable currency effects.
  
  
  
• Consolidated profit for the year attributable to owners of the parent amounted to 707.0 billion yen, a year-on-year increase of 49.6 billion yen.
  
  
  
• For the fiscal year ending March 31, 2023 (FY23), despite the projected increase of sales volume and favorable currency effects, Honda is expecting that the external business environment will remain challenging including a further increase in cost. Honda will continue its comprehensive efforts to improve profitability and plans to achieve consolidated operating profit of 810 billion yen for the fiscal year.
  
  
  
• The forecast for profit for the fiscal year (FY23) attributable to owners of the parent is 710 billion yen, a year-on-year increase by 2.9 billion yen, due partly to an increase in the share of profit from investments accounted for using the equity method.
  
  
  
• The year-end dividend will be 65 yen per share; total dividends to be paid for the fiscal year ended March 31, 2022 (FY22) will be 120 yen per share, an increase by 10 yen per share compared to the previously announced forecast.
  
  
  
• The forecast for total dividends to be paid for the fiscal year ending March 31, 2023 (FY23) is 120 yen per share, equivalent to FY22.

I.  Consolidated financial summary and business-by-business results for the fiscal year ended March 31, 2022 (FY22)

• Sales revenue: 14,552.6 billion yen (a year-on-year increase of 10.5%)
  Increase due to higher sales revenue from all businesses.
  
  
  
• Operating profit: 871.2 billion yen (a year-on-year increase of 32.0%)
  
  
  
• Profit for the fiscal year attributable to owners of the parent: 707.0 billion yen (a year-on-year increase of 7.6%)

1)  Motorcycle business

• Sales revenue: 2,185.2 billion yen (a year-on-year increase of 22.3%)
  Increase due primarily to a sales increase in Brazil.
  
  
  
• Operating profit: 311.4 billion yen (a year-on-year increase of 38.7%).
  Increase due primarily to an increase in profit related to favorable sales factors.

2)  Automobile business

• Sales revenue: 9,360.5 billion yen (a year-on-year increase of 6.6%)
  Although sales decreased mainly in North America, sales revenue experienced a year-on-year increase due primarily to an increase in sales in Asia and favorable currency effects.
  
  
  
• Operating profit: 236.2 billion yen (a year-on-year increase of 161.7%)
  Increase due primarily to control of expenses.
  Combined with operating profit from financial services business related to automobile sales, the estimated operating profit for automobile business is 557.2 billion yen.

3)  Financial Services business

• Operating profit: 333.0 billion yen (a year-on-year decrease of 6.7%)
  Decrease due primarily to a year-on-year difference in the amount of the provision for credit losses recorded.

4)  Life Creation (power products) and Other businesses

• Operating loss: 9.4 billion yen (a year-on-year improvement of 2.1 billion yen)
  Aircraft/aircraft engine business, which is included in "Other businesses," accounted for an operating loss of 33.7 billion yen.

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

• Sales revenue: 16,250 billion yen (a year-on-year increase of 11.7%)
  
  
  
• Operating profit: 810 billion yen (a year-on-year decrease of 7.0%)
  
  
  
• Profit for the fiscal year attributable to owners of the parent: 710 billion yen (a year-on-year increase of 0.4%)

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

SOURCE Honda Motor Co., Ltd.