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Thursday, 2 November 2017, 15:00 JST

Source: Honda
Honda Releases Consolidated Financial Summary for the Fiscal First Half Ended September 30, 2017

TOKYO, Nov 2, 2017 - (JCN Newswire) - Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal first half ended September 30, 2017.

Consolidated sales revenue for the fiscal first half (April 1, 2017 through September 30, 2017) amounted to 7,489.2 billion yen, an increase of 11.2% compared to the same period last year, due primarily to an increase in sales revenue from all businesses and favorable foreign currency translation effects.

Consolidated operating profit for the fiscal first half amounted to 422.1 billion yen, a decrease of 14.7% compared to the same period last year, due primarily to the loss related to the settlement of multidistrict class action litigation and the reverse effect from the impact of pension plan amendments in previous fiscal year. This was despite profit-increasing factors such as an increase in profit related to changes in sales volume and model mix and cost reduction efforts.

Consolidated profit before income taxes for the fiscal first half amounted to 577.6 billion yen, an increase of 3.3% compared to the same period last year, due primarily to an increase in share of profit of investments accounted for using the equity method.

Consolidated profit for the fiscal first half attributable to owners of the parent amounted to 381.3 billion yen, an increase of 8.4% compared to the same period last year.

Reflecting an increase in consolidated motorcycle unit sales and the favorable foreign currency effects, the following upward revisions were made to the previously announced consolidated financial forecasts for the current fiscal year (April 1, 2017 through March 31, 2018). The forecast for consolidated sales revenue was revised upward by 550.0 billion yen to 15.05 trillion yen, operating profit was revised upward by 20.0 billion yen to 745.0 billion yen, and the forecast for profit for the current fiscal year attributable to owners of the parent was revised upward by 40.0 billion yen to 585.0 billion yen.

The quarterly dividend for the fiscal second quarter will be 24 yen per share (an increase of 2 yen per share compared to the same period last year), and total dividends to be paid for the fiscal year ending March 31, 2018 are expected to be 96 yen per share (an increase of 4 yen per share compared to the previous fiscal year).

At the board of directors meeting held today, Honda resolved the following details regarding the acquisition of its own shares:

- Class of shares and the total number of shares to be acquired: Shares of common stock,
24 million shares (maximum)
- Total amount of acquisition: Up to 90 billion yen
- Period of acquisition: From November 2, 2017 through January 31, 2018

Moreover, striving to further enhance its capital policies, Honda decided to revise its dividend policy. Honda has always positioned shareholder return as one of the top priorities for the company management and had a policy of "the present goal is to maintain a shareholders' return ratio of approximately 30%." This time, Honda revised the policy to "with respect to dividends, the present goal is to realize a return ratio alone of approximately 30%." Along with the revision of dividend policy, Honda will acquire its own shares when appropriate for the purpose of improving capital efficiency and implementing necessary capital policy in a flexible manner.

Media Inquiries

Topic: Press release summary
Source: Honda

Sectors: Automotive
From the Asia Corporate News Network

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