TOKYO, Aug. 5, 2020 /PRNewswire/ --
I. Consolidated Financial Summary and category of business results for the Fiscal 1st Quarter ended June 30, 2020
(1) Motorcycle business
Sales revenue: 274.2 billion yen (a year-on-year decrease by 258.7 billion yen) due primarily to a decrease in unit sales mainly in Asia caused by the impact of the COVID-19.
Operating profit: 11.2 billion yen (a year-on-year decrease by 58.6 billion yen). Despite a decrease in unit sales, profit was secured due primarily to a decrease in R&D and SG&A expenses.
(2) Automobile business
Sales revenue: 1,255.7 billion yen (a year-on-year decrease by 1,494.4 billion yen) due to a decrease in sales especially in the U.S., Japan and India caused by the impact of the COVID-19.
Operating loss: 195.8 billion yen (a year-on-year decrease by 316.2 billion yen) due primarily to a decrease in unit sales. This was despite a decrease in SG&A expenses. Honda has been making progress in improving its business structure through cost and expense reductions even during this challenging time.
(3) Financial services business:
Operating profit: 71.5 billion yen (a year-on-year increase by 5.7 billion yen) due primarily to a difference in recorded amounts of provisions for credit losses.
(4) Life Creation (power products) and other businesses
Operating loss: 0.5 billion yen (a year-on-year improvement by 2.9 billion yen) due primarily to a decrease in R&D and SG&A expenses.
Aircraft and aircraft engine business, which is included in the other businesses, accounted for operating loss of 7.1 billion yen.
II. Forecasts for the for the Fiscal Year Ending March 31, 2021 (FY21)
Consolidated Financial Results for the Fiscal 1st Quarter Ended June 30, 2020
1st quarter ended June 30, 2019 (3 months period) | 1st quarter ended June 30, 2020 (3 months period) | Difference | ||
Honda Group Unit Sales*1 (million units) | Motorcycles | 4.921 | 1.855 | - 3.066 |
Automobiles*3 | 1.321 | 0.792 | - 0.529 | |
Life Creation | 1.280 | 1.083 | - 0.197 | |
Consolidated Unit Sales*2 (million units) | Motorcycles | 3.264 | 1.221 | - 2.043 |
Automobiles*3 | 0.905 | 0.337 | - 0.568 | |
Life Creation | 1.280 | 1.083 | - 0.197 | |
Financial Results (billion yen) | Sales revenue | 3,996.2 | 2,123.7 | - 1,872.4 |
Operating profit | 252.4 | -113.6 | -366.1 | |
Share of profit of investments accounted for using the equity method | 44.2 | 39.9 | -4.2 | |
Profit before income taxes | 289.8 | -73.4 | - 363.2 | |
Profit for the period attributable to owners of the parent | 172.3 | -80.8 | - 253.1 | |
Quarterly dividend per share (yen) | 28 | 11 | -17 | |
Honda's Average Rate (yen) | USD= | 110 | 108 | JPY appreciated |
Forecasts for the Fiscal Year Ending March 31, 2021(FY21)
FY20 results | FY21 forecasts ?2020/8/5? | Difference | ||
Honda Group Unit Sales*1 (million units) | Motorcycles | 19.340 | 14.800 | - 4.540 |
Automobiles*3 | 4.790 | 4.500 | - 0.290 | |
Life Creation | 5.701 | 5.310 | - 0.391 | |
Consolidated Unit Sales*2 (million units) | Motorcycles | 12.426 | 9.715 | - 2.711 |
Automobiles*3 | 3.318 | 2.685 | - 0.633 | |
Life Creation | 5.701 | 5.310 | - 0.391 | |
Financial Results/ Forecasts (billion yen) | Sales revenue | 14,931.0 | 12,800.0 | - 2,131.0 |
Operating profit | 633.6 | 200.0 | - 433.6 | |
Share of profit of investments accounted for using the equity method | 164.2 | 165.0 | +0.7 | |
Profit before income taxes | 789.9 | 365.0 | - 424.9 | |
Profit for the period attributable to owners of the parent | 455.7 | 165.0 | - 290.7 | |
Annual dividend per share (yen) | 112 | 44 | - 68 | |
Honda's Average Rate (yen) | USD= | 109 | 106 | JPY to appreciate |
*1 Honda Group Unit Sales is the total unit sales of the completed products (motorcycles, ATVs, Side-by-Sides, automobiles, power products) of Honda, its consolidated subsidiaries and its affiliates and joint ventures accounted for using the equity method.
*2 Consolidated Unit Sales is the total unit sales of the completed products (motorcycles, ATVs, Side-by-Sides, automobiles, power products) corresponding to consolidated sales revenue, which consists of unit sales of completed products of Honda and its consolidated subsidiaries.
*3 Certain sales of automobiles that are financed with residual value type auto loans by our Japanese finance subsidiaries and sold through our consolidated subsidiaries are accounted for as operating leases in conformity with IFRS and are not included in consolidated sales revenue to the external customers in our automobile business. Accordingly, they are not included in Consolidated Unit Sales, but are included in Honda Group Unit Sales of our automobile business.
For Additional Information, please visit;
https://global.honda/investors/library/financialresult.html
SOURCE Honda Motor Co., Ltd.
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