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Honda reports fiscal Q1 results

Honda Motor Co., Ltd. has released its financial results for its fiscal first quarter ended June 30, 2017. Honda group unit sales for motorcycles in fiscal Q1 were 4,699,000 units, up 347,000 units from the same period in 2016, with 4,352,000 units. Consolidated unit sales for motorcycles increased 414,000 units from 2016 to 2,831,000 units in fiscal Q1 2017. 

Honda Motor Co.'s consolidated operating profit for the fiscal first quarter (April 1, 2017 through June 30, 2017) amounted to 269.2 billion yen, an increase of 0.9 percent compared to the same period last year, due to profit-increasing factors, such as an increase in profit-related to changes in sales volume and model mix and cost reduction efforts. This was despite profit-reducing factors such as an increase in selling, general and administrative (SG&A) expenses.

Consolidated profit before income taxes for the fiscal first quarter amounted to 335.0 billion yen, an increase of 16.1 percent compared to the same period last year. Consolidated profit for the fiscal first quarter attributable to owners of the parent was 207.3 billion yen, an increase of 18.7 percent compared to the same period last year.

Reflecting the favorable currency effects recorded during the fiscal first quarter, the following upward revisions were made to the previously announced consolidated financial forecasts for the current fiscal year (April 1, 2017 through March 31, 2018). The forecast for consolidated sales revenue was revised upward by 300.0 billion yen to 14.5 trillion yen, operating profit was revised upward by 20.0 billion yen to 725.0 billion yen, and the forecast for profit for the current fiscal year attributable to owners of the parent was revised upward by 15.0 billion yen to 545.0 billion yen.

The quarterly dividend for the fiscal first quarter will be 24 yen per share (an increase of 2 yen per share compared to the same period last year), and total dividends to be paid for the fiscal year ending March 31, 2018 are expected to be 96 yen per share (an increase of 4 yen per share compared to the previous fiscal year).

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