Honda Motor Co., Ltd. (HMC:NYSE) Announced its Consolidated Financial Summary for the Fiscal 2nd Quarter Ended September 30, 2022 and Forecasts for the Fiscal Year Ending March 31, 2023

TOKYO, Nov. 9, 2022 /PRNewswire/ -- 

• Despite some unfavorable factors such as a decrease in automobile production and unit sales due to the impact of the semiconductor supply shortage, and an increase in the cost of raw materials, consolidated operating profit for the fiscal first half (6 months) ended September 30, 2022, amounted to 453.4 billion yen (a year-on-year increase by 11.2 billion yen). This was due primarily to pricing that reflects increased product value, a reduction of incentives, an increase in motorcycle unit sales and favorable currency effects.
• Consolidated profit for the fiscal first half (6 months) attributable to owners of the parent amounted to 338.5 billion yen (a year-on-year decrease by 50.6 billion yen), due primarily to a decrease in the share of profit of investments accounted for using the equity method.
• Despite the impact of a decrease in automobile unit sales and the forecasted continuation of upward pressure on costs, the previously announced forecast for consolidated operating profit for the current fiscal year ending March 31, 2023 (FY23) was revised upward by 40 billion yen to 870 billion yen reflecting an increase in motorcycle unit sales in some countries such as India and Vietnam and recent currency effects.
• The previously announced forecast for profit for the fiscal year attributable to owners of the parent was revised upward by 15 billion yen to 725 billion yen.

I.  Consolidated financial summary and business-by-business results for the fiscal first half (6 months) ended September 30, 2022

• Sales revenue: 8,085.3 billion yen (a year-on-year increase of 15.7%)
  Increase due primarily to higher motorcycle sales and favorable currency effects.
• Operating profit: 453.4 billion yen (a year-on-year increase of 2.5%)
• Profit for the period attributable to owners of the parent: 338.5 billion yen (a year-on-year decrease of 13.0%).

1)  Motorcycle business 
Sales revenue: 1,412.6 billion yen (a year-on-year increase of 38.0%) 
Increase due primarily to higher sales in Asia and favorable currency effects.

Operating profit: 224.7 billion yen (a year-on-year increase of 51.7%) 
Increase due primarily to an increase in profit attributable to higher sales volume, price and cost impacts, and favorable currency effects. 

2)  Automobile business 
Sales revenue: 5,003.9 billion yen(a year-on-year increase of 12.8%) 
Although sales decreased mainly in North America, sales revenue experienced a year-on-year increase due primarily to favorable currency effects.

Operating profit: 63.5 billion yen (a year-on-year decrease of 45.7%) 
Decrease due primarily to a decrease in profit attributable to lower sales volume. 
Combined with operating profit from financial services business related to automobile sales, the estimated operating profit for automobile business is 211.3 billion yen.

3)  Financial Services business 
Operating profit: 153.0 billion yen (a year-on-year decrease of 13.4%)

4)  Power Product and Other businesses 
Operating profit: 12.0 billion yen(a year-on-year increase of 11.9 billion yen) 
Aircraft/aircraft engine business, which is included in "Other businesses," accounted for an operating loss of 12.0 billion yen.

II.  Forecasts for the Fiscal Year Ending March 31, 2023 (FY23) 

• Sales revenue: 17,400 billion yen
  (upward revision of the previously announced forecast by 650 billion yen)
• Operating profit: 870 billion yen
  (upward revision of the previously announced forecast by 40 billion yen)
• Profit for the fiscal year attributable to owners of the parent: 725 billion yen
  (upward revision of the previously announced forecast by 15 billion yen)

Consolidated Financial Results for the Fiscal First Half Ended September 30, 2022

Forecasts for the Fiscal Year Ending March 31, 2023 (FY23)

Supplemental data 
Consolidated Financial Results for the Fiscal 2nd Quarter Ended September 30, 2022

For Additional Information, please visit: 
https://global.honda/investors/library/financialresult.html 

View original content:https://www.prnewswire.com/news-releases/honda-motor-co-ltd-hmcnyse-announced-its-consolidated-financial-summary-for-the-fiscal-2nd-quarter-ended-september-30-2022-and-forecasts-for-the-fiscal-year-ending-march-31-2023-301673038.html

SOURCE Honda Motor Co., Ltd.