Honda Motor Co., Ltd. Reports Consolidated Financial Results For The Fiscal Second Quarter Ended September 30, 2017

TOKYO, Nov. 1, 2017 /PRNewswire/ -- Honda Motor Co., Ltd. (HMC; NYSE) today announced its consolidated financial results for the fiscal second quarter ended September 30, 2017.

Second Quarter Results

Honda's consolidated profit for the period attributable to owners of the parent for the fiscal second quarter ended September 30, 2017 totaled JPY 174.0 billion (USD 1,544 million), a decrease of 1.7% from the same period last year. Earnings per share attributable to owners of the parent for the quarter amounted to JPY 96.55 (USD 0.86), a decrease of JPY 1.71 (USD 0.02) from JPY 98.26 for the corresponding period last year. One Honda American Depository Share represents one common share.

Consolidated sales revenue for the quarter amounted to JPY 3,776.1 billion (USD 33,498 million), an increase of 15.7% from the same period last year, due primarily to increased revenue in all business operations as well as favorable foreign currency translation effects.

Consolidated operating profit for the quarter amounted to JPY 152.9 billion (USD 1,357 million), a decrease of 32.9% from 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 the previous fiscal year, despite an increase in sales volume and model mix and decreased SG&A expenses.

Share of profit of investments accounted for using the equity method for the quarter amounted to JPY 82.2 billion (USD 730 million), an increase of 106.4% from the corresponding period last year.

Consolidated profit before income taxes for the quarter totaled JPY 242.6 billion (USD 2,152 million), a decrease of 10.3% from the same period last year.

Explanatory note:
United States dollar amounts have been translated from yen solely for the convenience of the reader at the rate of JPY 112.73=USD 1, the mean of the telegraphic transfer selling exchange rate and the telegraphic transfer buying exchange rate prevailing on the Tokyo foreign exchange market on September 30, 2017.

Forecasts for the Fiscal Year Ending March 31, 2018

In regard to the forecasts of the financial results for the fiscal year ending March 31, 2018, Honda projects consolidated results to be as shown below:

Fiscal year ending March 31, 2018

Dividend per Share of Common Stock

Fiscal second quarter dividend is JPY 24 per share of common stock. The total expected annual dividend per share of common stock for the fiscal year ending March 31, 2018, is JPY 96 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 the actual results of the Company could differ materially from those described in these forward-looking statements as a result of numerous factors, including general economic conditions in the principal markets of the Company, its consolidated subsidiaries and its affiliates accounted for by the equity-method, and fluctuation of foreign exchange rates, as well as other factors detailed from time to time. The various factors for increases and decreases in profit have been classified in accordance with a method that Honda considers reasonable.

For Additional Information, please visit; http://world.honda.com/investors/results.html

SOURCE Honda Motor Co., Ltd.