Honda Motor Co., Ltd. (the “Company”) hereby announces that the Company has become aware that Honda Director, Executive Vice President and Representative Executive Officer Shinji Aoyama is facing an allegation of inappropriate conduct during a social gathering outside of work hours. In response to this situation, the Audit Committee promptly led an investigation, compiled a disciplinary action plan, reported the plan to the Board of Directors, and sought opinions from outside experts. Based on the above results, the Board of Directors was scheduled to make a decision on the disciplinary action. However, Mr. Aoyama submitted a notice of resignation today. The Company's Board of Directors has determined that it is appropriate for Mr. Aoyama to resign from his position.

In light of the seriousness of this matter and based on his role as leader of the management team, Director, President and Representative Executive Officer Toshihiro Mibe also will voluntarily return 20% of his monthly compensation for a period of two months.

It is deeply regrettable that an individual positioned as a leader in the management of the Company, and who is expected to set an example for the respect of human rights and compliance with relevant laws and regulations, has become the subject of an allegation of conduct contrary to these principles. The Company sincerely apologizes for any discomfort caused by such conduct, and for the significant disturbance and concern it has caused to all stakeholders.

The Company takes this matter very seriously and recognizes the restoration of trust as its top priority. Moving forward, the Company is committed to further strengthen its company-wide compliance system.

The new management structure in response to this matter is under immediate consideration, which the Company will announce in the near future.