Honda Motor Co., Ltd. (HMC:NYSE) announced its Consolidated Financial Summary for the Fiscal Year Ended March 31, 2023 and Forecasts for the Fiscal Year Ending March 31, 2024

Rhea-AI Summary

Honda Motor Co., Ltd. announced its consolidated financial summary for the fiscal year ended March 31, 2023, reporting a 16.2% increase in sales revenue and a 3.7% decrease in operating profit. The company also provided forecasts for the fiscal year ending March 31, 2024, projecting a 7.6% increase in sales revenue and a 19.1% increase in operating profit.

Positive

• Honda's consolidated sales revenue for the fiscal year ended March 31, 2023 increased by 16.2% to JPY 16,907.7 billion.
• Operating profit decreased by 3.7% to JPY 839.3 billion.
• Profit before income taxes decreased by 12.3% to JPY 938.1 billion.
• Profit for the year attributable to owners of the parent decreased by 1.7% to JPY 695.2 billion.
• For the fiscal year ending March 31, 2024, Honda projects a 7.6% increase in sales revenue to JPY 18,200.0 billion.
• Operating profit is projected to increase by 19.1% to JPY 1,000.0 billion.
• Profit before income taxes is projected to increase by 26.3% to JPY 1,185.0 billion.
• Profit for the year is projected to increase by 13.6% to JPY 865.0 billion.
• Profit for the year attributable to owners of the parent is projected to increase by 15.1% to JPY 800.0 billion.

Negative

• None.

TOKYO, May 11, 2023 /PRNewswire/ --

Fiscal Year Results

Honda's consolidated sales revenue for the fiscal year ended March 31, 2023 increased by 16.2%, to JPY 16,907.7 billion from the fiscal year ended March 31, 2022, due mainly to increased sales revenue in Motorcycle business as well as positive foreign currency translation effects. Operating profit decreased by 3.7%, to JPY 839.3 billion from the previous fiscal year, due mainly to decreased profit attributable to sales impacts and increased expenses including product warranty expenses, which was partially offset by positive foreign currency effects. Profit before income taxes decreased by 12.3%, to JPY 938.1 billion from the previous fiscal year. Profit for the year attributable to owners of the parent decreased by 1.7%, to JPY 695.2 billion from the previous fiscal year.

Earnings per share attributable to owners of the parent for the year amounted to JPY 409.87, a decrease of JPY 1.22 from the previous fiscal year. One Honda American Depository Share represents one common share.

Forecasts for the Fiscal Year Ending March 31, 2024

In regard to the forecasts of the financial results for the fiscal year ending March 31, 2024, Honda projects consolidated results to be as shown below:

Fiscal year ending March 31, 2024	Yen (billions)	Changes from FY 2023
Sales revenue	18,200.0	+7.6 %
Operating profit	1,000.0	+19.1 %
Profit before income taxes	1,185.0	+26.3 %
Profit for the year	865.0	+13.6 %
Profit for the year attributable to owners of the parent	800.0	+15.1 %
	Yen
Earnings per share attributable to owners of the parent Basic and diluted	489.41

Note: The forecasts are based on the assumption that the average exchange rates for the Japanese yen to the U.S. dollar will be JPY 125 for the full year ending March 31, 2024.

Dividend per Share of Common Stock

		Yen
		FY 2022 results		FY 2023 results		FY 2024 forecasts
Interim dividend		55.00		60.00		75.00
Year-end dividend		65.00		60.00		75.00
Total annual dividend		120.00		120.00		150.00

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.

Information about per common share

Equity per share attributable to owners of the parent as of March 31, 2022 and 2023 are calculated based on the following information.

		2022			2023
Equity attributable to owners of the parent (millions of yen)			10,472,824			11,228,101
The number of shares outstanding at the end of the year (excluding treasury stock) (shares)			1,710,600,356			1,664,340,589
Equity per share attributable to owners of the parent (yen)			6,122.31			6,746.28

Earnings per share attributable to owners of the parent for the years ended March 31, 2022 and 2023 are calculated based on the following information. There were no significant potentially dilutive common shares outstanding for the years ended March 31, 2022 and 2023.

		2022			2023
Profit for the year attributable to owners of the parent (millions of yen)			707,067			695,267
Weighted average number of common shares outstanding, basic (shares)			1,719,961,835			1,696,307,115
Basic earnings per share attributable to owners of the parent (yen)			411.09			409.87

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

 

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SOURCE Honda Motor Co., Ltd.

FAQ

What was Honda's sales revenue for the fiscal year ended March 31, 2023?

Honda's sales revenue for the fiscal year ended March 31, 2023 was JPY 16,907.7 billion.

What was Honda's operating profit for the fiscal year ended March 31, 2023?

Honda's operating profit for the fiscal year ended March 31, 2023 was JPY 839.3 billion.

What were Honda's forecasts for the fiscal year ending March 31, 2024?

For the fiscal year ending March 31, 2024, Honda projects a 7.6% increase in sales revenue to JPY 18,200.0 billion and a 19.1% increase in operating profit to JPY 1,000.0 billion.