TOKYO, Aug. 4, 2021 /PRNewswire/ --
- Despite some unfavorable factors such as the semiconductor
supply shortage and an increase in raw material costs, consolidated
operating profit for the fiscal first quarter ended June 30, 2021 amounted to 243.2 billion yen, a year-on-year increase by
356.9 billion yen. This was due
primarily to a positive effect of the company's ongoing initiatives
to solidify its existing businesses as well as an increase in unit
sales compared to the same period last year which was heavily
impacted by the COVID-19 pandemic.
- Consolidated profit for the fiscal first quarter attributable
to owners of the parent amounted to 222.5
billion yen, a year-on-year increase by 303.3 billion yen, due also to an increase in the
share of profit of investments accounted for using the equity
method.
- Based on the forecast of a year-on-year increase in both sales
revenue and profit for the current fiscal year (April 1, 2021 through March 31, 2022), the previously announced
forecast for operating profit for this fiscal year was revised
upward by 120.0 billion yen to
780.0 billion yen, and the previously
announced forecast for profit for the fiscal year attributable to
owners of the parent was revised upward by 80.0 billion yen to 670.0
billion yen.
- Honda will acquire its own shares for the purpose, among
others, of improving efficiency of its capital structure and
implementing a flexible capital strategy.
I. Consolidated financial summary and
business-by-business results for the fiscal first quarter (3
months) ended June 30, 2021
- Sales revenue: 3,583.8 billion
yen (a year-on-year increase of 68.7%)
The increase was due to higher sales revenue from all
businesses.
- Operating profit: 243.2 billion
yen (a year-on-year increase of 356.9 billion yen)
The increase was due primarily to higher profit related to changes
in sales volume and model mix and favorable currency
effects.
- Profit for the period attributable to owners of the parent:
222.5 billion yen, a year-on-year
increase of 303.3 billion yen.
The increase was due also to an increase in the share of profit of
investments accounted for using the equity method.
1) Motorcycle
business
Sales revenue: 518.2
billion yen (a year-on-year increase of
243.9 billion yen)
The increase was due to the recovery of sales mainly in
Asia.
Operating profit: 80.6 billion yen (a year-on-year
increase of 69.4 billion yen).
The increase was due primarily to higher profit related to changes
in sales volume and model mix.
2) Automobile
business
Sales revenue: 2,252.4
billion yen (a year-on-year increase of 996.7 billion yen)
The increase was due primarily to the recovery of sales mainly in
North America.
Operating profit: 70.6 billion yen (a year-on-year
increase of 266.5 billion yen)
The increase was due primarily to higher profit related to changes
in sales volume and model mix.
Combined with operating profit from financial services business
related to automobile sales, the estimated operating profit for
automobile business is 159.2 billion
yen.
3) Financial
Services business
Operating profit: 92.2 billion yen (a year-on-year
increase of 20.6 billion yen)
The increase was due primarily to higher prices for used
vehicles.
4) Life Creation
(power products) and Other businesses
Operating loss:
0.3 billion yen (a year-on-year
improvement of 0.1 billion yen)
Aircraft/aircraft engine business, which is included in "Other
businesses," accounted for an operating loss of 8.3 billion yen.
II. Forecasts for the Fiscal Year Ending
March 31, 2022(FY22)
- Honda is forecasting a year-on-year increase in both sales
revenue and profit for the current fiscal year due primarily to an
increase in unit sales and the positive effect of the company's
ongoing initiatives to solidify its existing businesses.
- The previously announced forecast for operating profit for this
fiscal year was revised upward by 120.0
billion yen to 780.0 billion
yen. This is based on the forecast that further control of
selling, general and administrative (SG&A) expenses and cost
reduction efforts will offset the impact of unfavorable factors
such as the semiconductor supply shortage and the resurgence of the
COVID-19 pandemic mainly in Asia.
- The previously announced forecast for profit for the year
attributable to owners of the parent was revised upward by
80.0 billion yen to 670.0 billion yen, due primarily to an increase
in operating profit.
III. Acquisition of the Company's
Own Shares
For the purpose of improving efficiency of its
capital structure and implementing a flexible capital strategy,
among others, Honda resolved the following details regarding the
acquisition of its own shares at the Board of Directors meeting
held today.
- Total number of shares to be acquired (maximum):
18 million shares (common shares)
- Total amount of acquisition (maximum):
70 billion yen
- Period of acquisition:
From August 5,
2021 through December 31,
2021
Consolidated Financial Results for the Fiscal 1st Quarter
ended June 30, 2021
|
|
1st
quarter
ended
June 30,
2020
(3 months
period)
|
1st
quarter
ended
June 30,
2021
(3 months
period)
|
Difference
|
Honda
Group
Unit
Sales*1
(million
units)
|
Motorcycles
|
1.855
|
3.879
|
+2.024
|
Automobiles*3
|
0.792
|
0.998
|
+0.206
|
Life
Creation
|
1.083
|
1.708
|
+0.625
|
Consolidated
Unit
Sales*2
(million
units)
|
Motorcycles
|
1.221
|
2.392
|
+1.171
|
Automobiles*3
|
0.337
|
0.608
|
+0.271
|
Life
Creation
|
1.083
|
1.708
|
+0.625
|
Financial
Results
(billion
yen)
|
Sales
revenue
|
2,123.7
|
3,583.8
|
+1,460.0
|
Operating
profit
|
-113.6
|
243.2
|
+356.9
|
Share of profit of
investments accounted for using the equity method
|
39.9
|
55.9
|
+15.9
|
Profit before income
taxes
|
-73.4
|
311.3
|
+384.7
|
Profit for the
period attributable to owners of
the parent
|
-80.8
|
222.5
|
+303.3
|
Honda's
Average
Rate
(yen)
|
USD=
|
108
|
109
|
JPY depreciated
against the USD
by 1 yen/dollar
|
Forecasts for the Fiscal Year Ending March 31, 2022 (FY22)
|
|
FY21
results
|
Previous FY22
forecasts (2021/5/14)
|
Revised FY22
forecasts (2021/8/4)
|
Difference compared to FY21
results
|
Difference compared to
previous
forecasts
|
Honda
Group
Unit
Sales*1
(million
units)
|
Motorcycles
|
15.132
|
18.000
|
17.400
|
+2.268
|
-0.600
|
Automobiles*3
|
4.546
|
5.000
|
4.850
|
+0.304
|
-0.150
|
Life
Creation
|
5.623
|
5.900
|
6.300
|
+0.677
|
+0.400
|
Consolidated
Unit
Sales*2
(million
units)
|
Motorcycles
|
10.264
|
11.860
|
11.130
|
+0.866
|
-0.730
|
Automobiles*3
|
2.617
|
3.030
|
2.940
|
+0.323
|
-0.090
|
Life
Creation
|
5.623
|
5.900
|
6.300
|
+0.677
|
+0.400
|
Financial
Results
(billion
yen)
|
Sales
revenue
|
13,170.5
|
15,200.0
|
15,450.0
|
+2,279.4
|
+250.0
|
Operating
profit
|
660.2
|
660.0
|
780.0
|
+119.7
|
+120.0
|
Share of profit of
investments accounted for using the equity method
|
272.7
|
220.0
|
220.0
|
-52.7
|
―
|
Profit before income
taxes
|
914.0
|
870.0
|
1,000.0
|
+85.9
|
+130.0
|
Profit for the
year attributable to owners of
the parent
|
657.4
|
590.0
|
670.0
|
+12.5
|
+80.0
|
Quarterly dividend
per share (yen)
|
110
|
110
|
110
|
―
|
―
|
Honda's
Average
Rate
(yen)
|
USD=
|
106
|
105
|
106
|
―
|
JPY to
depreciate
against the
USD by 1 yen/dollar
|
|
|
*1
|
Honda Group Unit
Sales is the total unit sales of 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 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
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SOURCE Honda Motor Co., Ltd.