Honda Motor Co., Ltd. Reports Consolidated Financial Results For The Fiscal First Quarter Ended June 30, 2015

TOKYO, July 31, 2015 /PRNewswire/ -- Honda Motor Co., Ltd. (HMC; NYSE) today announced its consolidated financial results for the fiscal first quarter ended June 30, 2015.

First Quarter Results

Honda's consolidated profit for the period attributable to owners of the parent for the fiscal first quarter ended June 30, 2015 totaled JPY 186.0 billion (USD 1,519 million), an increase of 19.6% from the same period last year. Earnings per share attributable to owners of the parent for the quarter amounted to JPY 103.22 (USD 0.84), an increase of JPY 16.88 (USD 0.14) from JPY 86.34 for the corresponding period last year. One Honda American Depository Share represents one common share.

Consolidated sales revenue for the quarter amounted to JPY 3,704.7 billion (USD 30,255 million), an increase of 15.5% from the same period last year, due primarily to increased revenue in automobile and financial services business operations, as well as favorable foreign currency translation effects.

Consolidated operating profit for the quarter amounted to JPY 239.2 billion (USD 1,954 million), an increase of 16.4% from the same period last year, due primarily to an increase in profit attributable to increased sales revenue and model mix, continuing cost reduction efforts and favorable foreign currency effects, despite increased SG&A expenses, including quality related expenses.

Share of profit of investments accounted for using the equity method amounted to JPY 38.3 billion (USD 313 million) for the quarter, an increase of 5.7% from the corresponding period last year.

Consolidated profit before income taxes for the quarter totaled JPY 282.3 billion (USD 2,306 million), an increase of 15.9% from the same period last year.

Business Segment

In motorcycle business operations, sales revenue increased 10.8%, to JPY 472.7 billion (USD 3,860 million) from the same period last year. Operating profit totaled JPY 55.5 billion (USD 454 million), an increase of 33.4% from the same period last year.

In automobile business operations, sales revenue increased 14.4%, to JPY 2,675.8 billion (USD 21,853 million) from the same period last year. Operating profit totaled JPY 130.7 billion (USD 1,068 million), an increase of 18.0% from the same period last year.

In financial services business operations, sales revenue increased 30.0%, to JPY 473.6 billion (USD 3,868 million) from the same period last year. Operating profit increased 5.7% to JPY 52.4 billion (USD 428 million) from the same period last year.

In power product and other businesses operations, sales revenue totaled to JPY 82.5 billion (USD 674 million), an increase of 6.2% from the same period last year. Operating profit decreased 84.6% to JPY 0.5 billion (USD 4 million) from the same period last year.

Forecasts for the Fiscal Year Ending March 31, 2016

In regard to the forecasts of the financial results for the fiscal year ending March 31, 2016, Honda projects consolidated results to be as shown below:

Dividend per Share of Common Stock

The Board of Directors of Honda Motor Co., Ltd., at its meeting held on July 31, 2015, resolved to make the quarterly dividend JPY 22 per share of common stock, the record date of which is June 30, 2015. The total expected annual dividend per share of common stock for the fiscal year ending March 31, 2016, is JPY 88 per share.

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 Honda's actual results could differ materially from those described in these forward-looking statements as a result of numerous factors, including general economic conditions in Honda's principal markets and foreign exchange rates between the Japanese yen and the U.S. dollar and other major currencies, as well as other factors detailed from time to time.

SOURCE Honda Motor Co., Ltd.