|By PR Newswire||
|January 31, 2014 07:00 AM EST||
TOKYO, Jan. 31, 2014 /PRNewswire/ -- Honda Motor Co., Ltd. (NYSE: HMC) today announced its consolidated financial results for the fiscal third quarter ended December 31, 2013.
Third Quarter Results
Honda's consolidated net income attributable to Honda Motor Co., Ltd. for the fiscal third quarter ended December 31, 2013 totaled JPY 160.7 billion (USD 1,525 million), an increase of 107.6% from the same period last year. Basic net income attributable to Honda Motor Co., Ltd. per common share for the quarter amounted to JPY 89.18 (USD 0.85), an increase of JPY 46.21 (USD 0.44) from JPY 42.97 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 3,020.8 billion (USD 28,664 million), an increase of 24.5% from the same period last year, due primarily to increased revenue in automobile and motorcycle business operations, as well as favorable foreign currency translation effects.
Consolidated operating income for the quarter amounted to JPY 228.5 billion (USD 2,169 million), an increase of 73.2% from the same period last year, due primarily to an increase in sales volume and model mix, continuing cost reduction efforts and favorable foreign currency effects, despite increased SG&A expenses.
Consolidated income before income taxes and equity in income of affiliates for the quarter totaled JPY 216.6 billion (USD 2,055 million), an increase of 141.3% from the same period last year.
Equity in income of affiliates amounted to JPY 31.6 billion (USD 300 million) for the quarter, an increase of 47.7% from the corresponding period last year.
In automobile business operations, revenue increased 23.9%, to JPY 2,372.4 billion (USD 22,512 million) from the same period last year. Operating income totaled JPY 154.2 billion (USD 1,464 million), an increase of 117.5% from the same period last year.
In motorcycle business operations, revenue increased 30.0%, to JPY 400.1 billion (USD 3,797 million) from the same period last year. Operating income totaled JPY 34.5 billion (USD 328 million), an increase of 51.4% from the same period last year.
In financial services business operations, revenue increased 29.3%, to JPY 175.0 billion (USD 1,661 million) from the same period last year. Operating income increased 12.0% to JPY 42.7 billion (USD 405 million) from the same period last year.
In power product and other businesses operations, revenue increased 9.1%, to JPY 73.2 billion (USD 695 million) from the same period last year. Honda reported an operating loss of JPY 2.8 billion (USD 27 million), a decrease of JPY 2.9 billion (USD 28 million) from the same period last year.
Forecasts for the Fiscal Year Ending March 31, 2014
In regard to the forecasts of the financial results for the fiscal year ending March 31, 2014, Honda projects consolidated results to be as shown below:
Fiscal year ending March 31, 2014
Changes from FY 2013
Net sales and other operating revenue
Basic net income per common share
Dividend per Share of Common Stock
The Board of Directors of Honda Motor Co., Ltd., at its meeting held on January 31, 2014, resolved to make the quarterly dividend JPY 20 per share of common stock, the record date of which is December 31, 2013.
The year-end dividend and total annual dividend per share of common stock for the fiscal year ending March 31, 2014 are expected to be JPY 20 and JPY 80 per share, respectively.
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.
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