TOKYO, Japan, April 26, 2013 -- Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal fourth quarter and the fiscal year ended March 31, 2013.
Consolidated operating income for the fiscal fourth quarter (January 1, 2013 through March 31, 2013) amounted to 135.9 billion yen, an increase of 21.4% compared to the same period last year, due primarily to an increase in automobile sales in Asia as a result of the recovery from the impact of the major flooding in Thailand as well as favorable currency effects due to the depreciation of the Japanese yen.
Consolidated operating income for the fiscal year (April 1, 2012 through March 31, 2013) amounted to 544.8 billion yen, an increase of 135.5% compared to the previous fiscal year, due primarily to a significant increase in automobile sales mostly in North America, Asia and Japan as a result of recovery from the impact of the Great East Japan Earthquake, the major flooding in Thailand and positive impact of new model introductions. Consolidated net income*1 for the fiscal year amounted to 367.1 billion yen, an increase of 73.6% compared to the previous fiscal year.
The quarterly dividend for the fiscal fourth quarter will be 19 yen per share, a 4 yen increase compared to the quarterly dividend for the same period last year. The total cash dividends to be paid for the fiscal year ended March 31, 2013 are planned to be 76 yen per share, an increase of 16 yen per share from the previous fiscal year. The year-end dividends are matters to be resolved at the general shareholders' meeting.
Consolidated Financial Results for the Fiscal 4th Quarter
| 4th quarter ended Mar. 31, 2012 |
4th quarter ended Mar. 31, 2013 |
Difference | ||
| Honda Group Unit Sales*2 (million units) |
Motorcycles*4 | 4.164 | 3.962 | -0.202 |
| Automobiles*5 | 1.022 | 1.033 | +0.011 | |
| Power Products | 2.010 | 1.963 | -0.047 | |
| Consolidated Unit Sales*3 (million units) |
Motorcycles*4 | 2.483 | 2.490 | +0.007 |
| Automobiles*5 | 0.831 | 0.902 | +0.071 | |
| Power Products | 2.010 | 1.963 | -0.047 | |
| Financial Results (billion yen) |
Net sales and other operating revenue | 2,405.0 | 2,744.9 | +339.8 |
| Operating income | 111.9 | 135.9 | +24.0 | |
| Income before income taxes | 93.0 | 98.0 | +5.0 | |
| Equity in income of affiliates | 33.2 | 13.0 | -20.2 | |
| Net income*1 | 71.5 | 75.7 | +4.1 | |
| Quarterly dividend per share (yen) | 15 | 19 | +4 | |
| Honda's Average Rate (yen) |
USD = | 80 | 93 | Down by 13 yen |
| EUR = | 104 | 122 | Down by 18 yen | |
Consolidated Financial Results for the Fiscal Year ended March 31, 2013 (FY13)
| FY12 results | FY13 forecasts announced on Jan. 31, 2013 | FY13 results | Difference from FY12 | Difference from forecasts announced on Jan. 31, 2013 | ||
| Honda Group Unit Sales*2 (million units) |
Motorcycles*4 | 15.061 | 15.520 | 15.494 | +0.433 | -0.026 |
| Automobiles*5 | 3.108 | 4.060 | 4.014 | +0.906 | -0.046 | |
| Power Products | 5.819 | 6.060 | 6.071 | +0.252 | +0.011 | |
| Consolidated Unit Sales*3 (million units) |
Motorcycles*4 | 8.650 | 9.540 | 9.510 | +0.860 | -0.030 |
| Automobiles*5 | 2.482 | 3.450 | 3.408 | +0.926 | -0.042 | |
| Power Products | 5.819 | 6.060 | 6.071 | +0.252 | +0.011 | |
| Financial Results/ Forecasts (billion yen) |
Net sales and other operating revenue |
7,948.0 | 9,800.0 | 9,877.9 | +1,929.8 | +77.9 |
| Operating income | 231.3 | 520.0 | 544.8 | +313.4 | +24.8 | |
| Income before income taxes | 257.4 | 515.0 | 488.8 | +231.4 | -26.1 | |
| Equity in income of affiliates |
100.4 | 80.0 | 82.7 | -17.6 | +2.7 | |
| Net income*1 | 211.4 | 370.0 | 367.1 | +155.6 | -2.8 | |
| Annual dividend per share (yen) | 60 | 76 | 76 | +16 | - | |
| Honda's Average Rate (yen) |
USD = | 79 | 81 | 84 | Down by 5 yen | Down by 3 yen |
| EUR = | 108 | 105 | 108 | - | Down by 3 yen | |
Forecasts for the Fiscal Year ending March 31, 2014 (FY14)
Honda's financial forecasts for the fiscal year ending March 31, 2014 are described below, with assumption of the average currency exchange rates of JPY 95 = USD 1 and JPY 120 = Euro 1 for the fiscal year.
| FY13 results | FY14 forecasts | Difference | ||
| Honda Group Unit Sales*2 (million units) |
Motorcycles*4 | 15.494 | 17.400 | +1.906 |
| Automobiles*5 | 4.014 | 4.430 | +0.416 | |
| Power Products | 6.071 | 6.200 | +0.129 | |
| Consolidated Unit Sales*3 (million units) |
Motorcycles*4 | 9.510 | 11.000 | +1.490 |
| Automobiles*5 | 3.408 | 3.670 | +0.262 | |
| Power Products | 6.071 | 6.200 | +0.129 | |
| Financial Results/ Forecasts (billion yen) |
Net sales and other operating revenue | 9,877.9 | 12,100.0 | +2,222.0 |
| Operating income | 544.8 | 780.0 | +235.1 | |
| Income before income taxes | 488.8 | 780.0 | +291.1 | |
| Equity in income of affiliates | 82.7 | 115.0 | +32.2 | |
| Net income*1 | 367.1 | 580.0 | +212.8 | |
| Annual dividend per share (yen) | 76 | 80 | +4 | |
| Honda's Average Rate (yen) |
USD = | 84 | 95 | Down by 11 yen |
| EUR = | 108 | 120 | Down by 12 yen | |
- *1Net income attributable to Honda Motor Co., Ltd. based on U.S. generally accepted accounting principles.
- *2Honda Group Unit Sales is the total unit sales of completed products (motorcycles, ATVs, automobiles, power products) of Honda, its consolidated subsidiaries and its affiliates accounted for under the equity method.
- *3Consolidated Unit Sales is the total unit sales of completed products (motorcycles, ATVs, automobiles, power products) corresponding to consolidated net sales, which consists of unit sales of completed products of Honda and its consolidated subsidiaries.
- *4Honda Group Unit Sales and Consolidated Unit Sales of ATVs included in motorcycle business for the fiscal 4th quarter ended March 31, 2012 and 2013 are 25 thousand units and 28 thousand units, respectively. Honda Group Unit Sales and Consolidated Unit Sales of ATVs included in motorcycle business for the fiscal year ended March 31, 2012 and 2013 are 116 thousand units and 117 thousand units, respectively.
- *5Certain sales of automobiles that are financed with residual value type auto loans by our Japanese finance subsidiaries are accounted for as operating leases in conformity with U.S. generally accepted accounting principles and are not included in consolidated net sales to the external customers in our automobile business. As a result, they are not included in Consolidated Unit Sales, but are included in Honda Group Unit Sales of our automobile business.
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