|By PR Newswire||
|April 25, 2014 07:00 AM EDT||
TOKYO, April 25, 2014 /PRNewswire/ -- Honda Motor Co., Ltd. (NYSE: HMC) today announced its consolidated financial results for the fiscal fourth quarter and the fiscal year ended March 31, 2014.
Fourth Quarter Results
Honda's consolidated net income attributable to Honda Motor Co., Ltd. for the fiscal fourth quarter ended March 31, 2014 totaled JPY 170.5 billion (USD 1,657 million), an increase of 125.1% from the same period last year. Basic net income attributable to Honda Motor Co., Ltd. per common share for the quarter amounted to JPY 94.61 (USD 0.92), an increase of JPY 52.58 (USD 0.51) from JPY 42.03 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 3,097.2 billion (USD 30,094 million), an increase of 12.8% 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 165.2 billion (USD 1,606 million), an increase of 21.5% from the same period last year, due primarily to an increase in sales volume and model mix, continuing cost reduction efforts, as well as favorable foreign currency effects, despite increased SG&A and R&D expenses.
Consolidated income before income taxes and equity in income of affiliates for the quarter totaled JPY 174.7 billion (USD 1,697 million), an increase of 78.1% from the same period last year.
Equity in income of affiliates amounted to JPY 37.3 billion (USD 363 million) for the quarter, an increase of 185.8% from the corresponding period last year.
In automobile business operations, revenue increased 11.3%, to JPY 2,378.2 billion (USD 23,108 million) from the same period last year. Operating income totaled JPY 72.9 billion (USD 709 million), a decrease of 5.6% from the same period last year.
In motorcycle business operations, revenue increased 19.5%, to JPY 448.5 billion (USD 4,358 million) from the same period last year. Operating income totaled JPY 42.9 billion (USD 417 million), an increase of 70.3% from the same period last year.
In financial services business operations, revenue increased 23.9%, to JPY 187.7 billion (USD 1,824 million) from the same period last year. Operating income increased 19.3% to JPY 48.8 billion (USD 474 million) from the same period last year.
In power product and other businesses operations, revenue increased 1.9%, to JPY 82.6 billion (USD 804 million) from the same period last year. Operating income totaled to JPY 0.5 billion (USD 6 million), an increase of JPY 7.9 billion (USD 78 million) from the same period last year.
Forecasts for the Fiscal Year Ending March 31, 2015
In regard to the forecasts of the financial results for the fiscal year ending March 31, 2015, Honda projects consolidated results to be as shown below:
Fiscal year ending March 31, 2015
Changes from FY 2014
Net sales and other operating revenue
Basic net income per common share
Dividend per Share of Common Stock
The Company plans to distribute fiscal year-end cash dividends of JPY 22 per share for the year ended March 31, 2014 subject to resolution at the ordinary general meeting of shareholders.
The Company expects to distribute quarterly cash dividends of JPY 22 per share for each quarter for the year ending March 31, 2015. As a result, total cash dividends for the year ending March 31, 2015 are expected to be JPY 88 per share, an increase of JPY 6 from the annual dividends to be paid for the year ended March 31, 2014.
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.
For Additional Information, please visit:
SOURCE Honda Motor Co., Ltd.
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