TOKYO, Oct. 28, 2014 /PRNewswire/ -- Honda Motor Co., Ltd. (HMC; NYSE) today announced its consolidated financial results for the fiscal second quarter ended September 30, 2014.
Second Quarter Results
Honda's consolidated net income attributable to Honda Motor Co., Ltd. for the fiscal second quarter ended September 30, 2014 totaled JPY 141.8 billion (USD 1,296 million), an increase of 17.9% from the same period last year. Basic net income attributable to Honda Motor Co., Ltd. per common share for the quarter amounted to JPY 78.73 (USD 0.72), an increase of JPY 11.94 (USD 0.11) from JPY 66.79 for the corresponding period last year. One Honda American Depository Share represents one common share.
Consolidated net sales and other operating revenue (herein referred to as "revenue") for the quarter amounted to JPY 3,014.7 billion (USD 27,545 million), an increase of 4.3% from the same period last year, due primarily to increased revenue in motorcycle and automobile business operations, as well as favorable foreign currency translation effects.
Consolidated operating income for the quarter amounted to JPY 164.4 billion (USD 1,502 million), a decrease of 4.1% from the same period last year, due primarily to a decrease in sales volume and model mix as well as increased R&D expenses, despite continuing cost reduction efforts and favorable foreign currency effects.
Consolidated income before income taxes and equity in income of affiliates for the quarter totaled JPY 179.8 billion (USD 1,643 million), an increase of 8.6% from the same period last year.
Equity in income of affiliates amounted to JPY 22.7 billion (USD 208 million) for the quarter, a decrease of 28.2% from the corresponding period last year.
Business Segment
In motorcycle business operations, revenue increased 4.9%, to JPY 438.3 billion (USD 4,005 million) from the same period last year. Operating income totaled JPY 38.1 billion (USD 348 million), a decrease of 16.3% from the same period last year.
In automobile business operations, revenue increased 3.7%, to JPY 2,310.4 billion (USD 21,109 million) from the same period last year. Operating income totaled JPY 79.1 billion (USD 723 million), a decrease of 1.3% from the same period last year.
In financial services business operations, revenue increased 13.5%, to JPY 192.9 billion (USD 1,763 million) from the same period last year. Operating income increased 3.6% to JPY 48.2 billion (USD 441 million) from the same period last year.
In power product and other businesses operations, revenue totaled to JPY 73.0 billion (USD 667 million) basically unchanged from the same period last year. Honda reported an operating loss of JPY 1.0 billion (USD 10 million) a decline of 0.2 billion (USD 2 million) from the same period last year.
Forecasts for the Fiscal Year Ending March 31, 2015
In regard to the forecasts of the financial results for the fiscal year ending March 31, 2015, Honda projects consolidated results to be as shown below:
Fiscal year ending March 31, 2015
|
Yen (billions)
|
Changes from FY 2014
|
|
Net sales and other operating revenue
|
12,750.0
|
+ 7.7%
|
|
Operating income
|
770.0
|
+ 2.6%
|
|
Net income attributable to
Honda Motor Co., Ltd.
|
565.0
|
- 1.6%
|
|
Yen
|
|
|
Basic net income attributable to
Honda Motor Co., Ltd. per common share
|
313.49
|
|
Dividend per Share of Common Stock for fiscal year 2015
The Board of Directors of Honda Motor Co., Ltd., at its meeting held on October 28, 2014, resolved to make the quarterly dividend JPY 22 per share of common stock, the record date of which is September 30, 2014. The total expected annual dividend per share of common stock for the fiscal year ending March 31, 2015, 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, the Euro and other major currencies, as well as other factors detailed from time to time.
SOURCE Honda Motor Co., Ltd.