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Honda Motor Co., Ltd. Reports Consolidated Financial Results For The Fiscal First Quarter Ended June 30, 2012

Stocks in this article: HMC

TOKYO, July 31, 2012 /PRNewswire/ -- Honda Motor Co., Ltd. (HMC; NYSE) today announced its consolidated financial results for the fiscal first quarter ended June 30, 2012.

First Quarter Results

Honda's consolidated net income attributable to Honda Motor Co., Ltd. for the fiscal first quarter ended June 30, 2012 totaled JPY 131.7 billion ( USD 1,661 million), an increase of 314.3% from the same period last year. Basic net income attributable to Honda Motor Co., Ltd. per common share for the quarter amounted to JPY 73.09 (USD 0.92), an increase of JPY 55.45 (USD 0.70) from JPY 17.64 for the corresponding period last year.

Consolidated net sales and other operating revenue (herein referred to as "revenue") for the quarter amounted to JPY 2,435.9 billion ( USD 30,714 million), an increase of 42.1% from the same period last year, due primarily to increased revenue in automobile business operation as the production has recovered from the effects of the Great East Japan Earthquake, and increased revenue in motorcycle business operation, despite unfavorable foreign currency translation effects.

Consolidated operating income for the quarter amounted to JPY 176.0 billion ( USD 2,219 million), an increase of 679.5% from the same period last year, due primarily to an increase in sales volume and model mix, despite increased SG&A expenses and R&D expenses, and unfavorable foreign currency effects.

Business Segment

In automobile business operation, revenue from sales to external customers increased 60.6%, to JPY 1,890.5 billion ( USD 23,837 million), from the same period last year. Operating income totaled JPY 100.6 billion ( USD 1,269 million), an increase of JPY 176.8 billion ( USD 2,230 million) from the same period last year.

In motorcycle business operation, revenue from sales to external customers increased 4.9%, to JPY 346.6 billion ( USD 4,371 million), from the same period last year. Operating income totaled JPY 36.8 billion ( USD 464 million), a decrease of 18.1% from the same period last year.

Dividend per Share of Common Stock

The Board of Directors of Honda Motor Co., Ltd., at its meeting held on July 31, 2012, resolved to make the quarterly dividend JPY 19 per share of common stock, the record date of which is June 30, 2012.  The total expected annual dividend per share of common stock for the fiscal year ending March 31, 2012, is JPY 76 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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