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Friday, 8 November 2019, 14:09 HKT/SGT

Source: Honda
Honda Releases Consolidated Financial Summary for the Fiscal 2nd Quarter Ended September 30, 2019

TOKYO, Nov 8, 2019 - (JCN Newswire) - Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal second quarter ended September 30, 2019.

Consolidated sales revenue for the fiscal second quarter (July 1, 2019 through September 30, 2019) amounted to 3,729.1 billion yen, a decrease of 2.9% compared to the same period last year, due primarily to November 8, 2019 a decrease in sales revenue such as automobile and motorcycle businesses, as well as unfavorable foreign currency translation effects. This was despite an increase in sales revenue from the financial services business.

Consolidated operating profit for the fiscal second quarter amounted to 220.1 billion yen, an increase of 2.6% compared to the same period last year, due primarily to a decrease in selling, general and administrative (SG&A) expenses that included quality-related expenses as well as cost reduction efforts. This was despite a decrease in profit related to changes in sales volume and model mix resulting from a decrease in motorcycle and automobile unit sales due to the slowdown of the Indian market.

Consolidated profit before income taxes for the fiscal second quarter amounted to 289.6 billion yen, an increase of 2.3% compared to the same period last year. Consolidated profit for the fiscal second quarter attributable to owners of the parent amounted to 196.5 billion yen, a decrease of 6.7% compared to the same period last year, due primarily to an increase in income tax expenses.

Consolidated financial results for the fiscal first half (April 1, 2019, through September 30, 2019) were as follows: consolidated sales revenue amounted to 7,725.3 billion yen, consolidated operating profit amounted to 472.6 billion yen, consolidated profit before income taxes amounted to 579.4 billion yen and consolidated profit for the fiscal first-half attributable to owners of the parent amounted to 368.8 billion yen.

The previously announced forecast for consolidated operating profit for the current fiscal year (April 1, 2019, through March 31, 2020) was revised downward by 80.0 billion yen to 690.0 billion yen, primarily to reflect unfavorable currency effects. Honda will continue to make steady progress in the improvement of profitability and strives to establish a business structure that generates profit equivalent to or more than that of the previous fiscal year.

The quarterly dividend for the fiscal second quarter will be 28 yen per share, and total dividends to be paid for the fiscal year ending March 31, 2020, are expected to be 112 yen per share (an increase of 1 yen per share compared to the previous fiscal year).

For the full report visit https://bit.ly/2X48s4F.

About Honda

Honda Motor Co., Ltd. (TSE:7267 / NYSE:HMC / LSE:HNDA) is one of the leading manufacturers of automobiles and power products and the largest manufacture of motorcycles in the world. Honda has always sought to provide genuine satisfaction to people worldwide. The result is more than 120 manufacturing facilities in 30 countries worldwide, producing a wide range of products, including motorcycles, ATVs, generators, marine engines, lawn and garden equipment and automobiles that bring the company into contact with over 19 million customers annually.

For more information, please visit http://world.honda.com.

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Source: Honda

Topic: Press release summary
Sectors: Automotive
From the Asia Corporate News Network

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