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Welcome to the Honda Financial Results Audio Presentation. On April 27, 2012, Honda Motor Company announced its financial results for the fiscal fourth quarter, which ended on March 31, 2012. During this audio presentation, we would like to review the financial results and highlight the major factors, which influenced Honda’s business operations during the period. The presentation material, which will serve as the basis for today’s program, is available on Honda’s Investor Relations website at http://world.honda.com/investors.
For those of you who have not yet downloaded the material, please do so now, as we will start immediately, following a forward-looking statement.
This audio presentation 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 which is currently available.
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. The various factors for increases and decreases in income have been classified in accordance with the method that Honda considers reasonable.
Before explaining the results, we would like to briefly review the global economic environment during the past quarter. The U.S market showed continued signs of a gradual recovery as evidenced by rise in GDP, consumer spending and housing investments, accompanied by a drop in the unemployment rate. However, the high price of gasoline and instability in the European financial markets continue to cause concern.