TOKYO, April 28, 2015 /PRNewswire/ -- Honda Motor Co., Ltd. (HMC; NYSE) today announced its consolidated financial results for the fiscal fourth quarter and the fiscal year ended March 31, 2015.
Fourth Quarter Results
Honda's consolidated net income attributable to Honda Motor Co., Ltd. for the fiscal fourth quarter ended March 31, 2015 totaled JPY 97.8 billion (USD 814 million), a decrease of 42.6% from the same period last year. Basic net income attributable to Honda Motor Co., Ltd. per common share for the quarter amounted to JPY 54.29 (USD 0.45), a decrease of JPY 40.32 (USD 0.34) from JPY 94.61 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 3,353.7 billion (USD 27,908 million), an increase of 8.3% from the same period last year, due primarily to increased revenue in motorcycle business operations, as well as favorable foreign currency translation effects, despite decreased revenue in automobile business operations.
Consolidated operating income for the quarter amounted to JPY 111.9 billion (USD 932 million), a decrease of 32.3% from the same period last year, due primarily to increased SG&A expenses including product warranty expenses as well as a decrease in sales volume and model mix, despite favorable foreign currency effects.
Consolidated income before income taxes and equity in income of affiliates for the quarter totaled JPY 116.8 billion (USD 972 million), a decrease of 33.1% from the same period last year.
Equity in income of affiliates amounted to JPY 36.6 billion (USD 305 million) for the quarter, a decrease of 1.9% from the corresponding period last year.
Business Segment
In motorcycle business operations, revenue increased 14.7%, to JPY 514.5 billion (USD 4,282 million) from the same period last year. Operating income totaled JPY 45.6 billion (USD 380 million), an increase of 6.2% from the same period last year.
In automobile business operations, revenue increased 6.2%, to JPY 2,524.7 billion (USD 21,010 million) from the same period last year. Operating income totaled JPY 20.8 billion (USD 173 million), a decrease of 71.5% from the same period last year.
In financial services business operations, revenue increased 17.9%, to JPY 221.3 billion (USD 1,842 million) from the same period last year. Operating income increased 2.5% to JPY 50.0 billion (USD 416 million) from the same period last year.
In power product and other businesses operations, revenue totaled to JPY 93.0 billion (USD 774 million), an increase of 12.5% from the same period last year. Honda reported an operating loss of JPY 4.5 billion (USD 38 million), a decline of 5.0 billion (USD 42 million) from the same period last year.
Forecasts for the Fiscal Year Ending March 31, 2016
Honda decided to voluntarily adopt IFRS for the Company's consolidated financial statements for the year ending March 31, 2015 to be included in the annual securities report (to be submitted to the Financial Services Agency of Japan) and Form 20-F (to be submitted to the U.S. Securities and Exchange Commission) for that fiscal year. Accordingly, the Company's forecasts for the year ending March 31, 2016 are based on IFRS.
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:
Fiscal year ending March 31, 2016
|
Yen (billions)
|
|
(Reference)
|
|
FY2015
Results
(U.S. GAAP)
|
FY2016
Forecast
(IFRS)
|
FY2016
Forecast
(U.S. GAAP)
|
|
Sales revenue
|
12,646.7
|
14,500.0
|
13,850.0
|
|
Operating profit
|
651.6
|
685.0
|
660.0
|
|
Profit before income taxes
|
689.6
|
805.0
|
650.0
|
|
Profit for the year attributable to owners of the parent
|
522.7
|
525.0
|
525.0
|
|
Yen
|
|
|
|
Earnings per share attributable to owners of the parent
|
290.06
|
291.3
|
291.3
|
Dividend per Share of Common Stock for the fiscal years 2015 and 2016
The Company plans to distribute year-end cash dividends of JPY 22 per share for the year ended March 31, 2015, which is a matter to be resolved at the ordinary general meeting of shareholders.
The Company expects to distribute quarterly cash dividends of JPY 22 per share for each quarter for the year ending March 31, 2016. As a result, total cash dividends for the year ending March 31, 2016 are expected to be 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.
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SOURCE Honda Motor Co., Ltd.