Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal first quarter ended June 30, 2013.
Despite some profit-reducing factors such as an increase in expenses necessary for the future growth of the company including R&D expenses and expenses related to the startup of new production plants and changes in revenue and model mix in Japan and North America, consolidated operating income for the fiscal first quarter (April 1, 2013 through June 30, 2013) amounted to 184.9 billion yen, an increase of 5.1% compared to the same period last year, due primarily to increased motorcycle sales in Asia, increased automobile sales in all regions except for Japan, reduced costs and favorable currency effects due to the depreciation of the Japanese yen.
Previously announced forecasts for consolidated financial results for the current fiscal year ending March 31, 2014 will remain unchanged based on the results for this fiscal first quarter.
The quarterly dividend for the fiscal first quarter will be 20 yen per share, 1 yen increase compared to the quarterly dividend for the same period last year. The total cash dividends to be paid for the fiscal year ending March 31, 2014 are planned to be 80 yen per share, an increase of 4 yen per share from the previous fiscal year.
Consolidated Financial Results for the Fiscal 1st Quarter
Forecasts for the Fiscal Year ending March 31, 2014 (FY14)
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- Net income attributable to Honda Motor Co., Ltd. based on U.S. generally accepted accounting principles.
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- Honda Group Unit Sales is the total unit sales of completed products (motorcycles, ATVs, automobiles, power products) of Honda, its consolidated subsidiaries and its affiliates accounted for under the equity method.
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- Consolidated Unit Sales is the total unit sales of completed products (motorcycles, ATVs, automobiles, power products) corresponding to consolidated net sales, which consists of unit sales of completed products of Honda and its consolidated subsidiaries.
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- Honda Group Unit Sales and Consolidated Unit Sales of ATVs included in motorcycle business for the fiscal 1st quarter ended June 30, 2012 and 2013 are 29 thousand units and 21 thousand units, respectively.
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- Certain sales of automobiles that are financed with residual value type auto loans by our Japanese finance subsidiaries are accounted for as operating leases in conformity with U.S. generally accepted accounting principles and are not included in consolidated net sales to the external customers in our automobile business. As a result, they are not included in Consolidated Unit Sales, but are included in Honda Group Unit Sales of our automobile business.
