TOKYO, May 13, 2022 /PRNewswire/ --

Despite certain unfavorable factors such as the resurgence of COVID-19, a decrease in automobile unit sales due to the semiconductor supply shortage and an increase in the cost of raw materials, consolidated operating profit for the fiscal year amounted to 871.2 billion yen, a year-on-year increase by 211.0 billion yen, due primarily to success in reducing costs and controlling incentives, and favorable currency effects.
Consolidated profit for the year attributable to owners of the parent amounted to 707.0 billion yen, a year-on-year increase of 49.6 billion yen.
For the fiscal year ending March 31, 2023 (FY23), despite the projected increase of sales volume and favorable currency effects, Honda is expecting that the external business environment will remain challenging including a further increase in cost. Honda will continue its comprehensive efforts to improve profitability and plans to achieve consolidated operating profit of 810 billion yen for the fiscal year.
The forecast for profit for the fiscal year (FY23) attributable to owners of the parent is 710 billion yen, a year-on-year increase by 2.9 billion yen, due partly to an increase in the share of profit from investments accounted for using the equity method.
The year-end dividend will be 65 yen per share; total dividends to be paid for the fiscal year ended March 31, 2022 (FY22) will be 120 yen per share, an increase by 10 yen per share compared to the previously announced forecast.
The forecast for total dividends to be paid for the fiscal year ending March 31, 2023 (FY23) is 120 yen per share, equivalent to FY22.

I. Consolidated financial summary and business-by-business results for the fiscal year ended March 31, 2022 (FY22)

Sales revenue: 14,552.6 billion yen (a year-on-year increase of 10.5%)

Increase due to higher sales revenue from all businesses.
Operating profit: 871.2 billion yen (a year-on-year increase of 32.0%)
Profit for the fiscal year attributable to owners of the parent: 707.0 billion yen (a year-on-year increase of 7.6%)

1) Motorcycle business

Sales revenue: 2,185.2 billion yen (a year-on-year increase of 22.3%)

Increase due primarily to a sales increase in Brazil.
Operating profit: 311.4 billion yen (a year-on-year increase of 38.7%).

Increase due primarily to an increase in profit related to favorable sales factors.

2) Automobile business

Sales revenue: 9,360.5 billion yen (a year-on-year increase of 6.6%)

Although sales decreased mainly in North America, sales revenue experienced a year-on-year increase due primarily to an increase in sales in Asia and favorable currency effects.
Operating profit: 236.2 billion yen (a year-on-year increase of 161.7%)

Increase due primarily to control of expenses.

Combined with operating profit from financial services business related to automobile sales, the estimated operating profit for automobile business is 557.2 billion yen.

3) Financial Services business

Operating profit: 333.0 billion yen (a year-on-year decrease of 6.7%)

Decrease due primarily to a year-on-year difference in the amount of the provision for credit losses recorded.

4) Life Creation (power products) and Other businesses

Operating loss: 9.4 billion yen (a year-on-year improvement of 2.1 billion yen)

Aircraft/aircraft engine business, which is included in "Other businesses," accounted for an operating loss of 33.7 billion yen.

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

Sales revenue: 16,250 billion yen (a year-on-year increase of 11.7%)
Operating profit: 810 billion yen (a year-on-year decrease of 7.0%)
Profit for the fiscal year attributable to owners of the parent: 710 billion yen (a year-on-year increase of 0.4%)

Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (FY22)

		FY21 results	FY22 results	Difference compared to FY21 results
Honda Group Unit Sales^*1 (million units)	Motorcycles	15.132	17.027	+1.895
	Automobiles^*3	4.546	4.074	-0.472
	Life Creation	5.623	6.200	+0.577
Consolidated Unit Sales*² (million units)	Motorcycles	10.264	10.721	+0.457
	Automobiles^*3	2.617	2.424	-0.193
	Life Creation	5.623	6.200	+0.577
Financial Results (billion yen)	Sales revenue	13,170.5	14,552.6	+1,382.1
	Operating profit	660.2	871.2	+211.0
	Share of profit of investments accounted for using the equity method	272.7	202.5	-70.2
	Profit before income taxes	914.0	1,070.1	+156.1
	Profit for the year attributable to owners of the parent	657.4	707.0	+49.6
Annual dividend per share (yen)		110	120	+10
Honda's Average Rate (yen)	USD=	106	112	JPY depreciated against the USD by 6 yen/dollar

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

		FY22 results	FY23 forecasts	Difference compared to FY22 results
Honda Group Unit Sales^*1 (million units)	Motorcycles	17.027	18.560	+1.533
	Automobiles^*3	4.074	4.200	+0.126
	Power Products^*4	6.200	5.665	-0.535
Consolidated Unit Sales*² (million units)	Motorcycles	10.721	11.660	+0.939
	Automobiles^*3	2.424	2.520	+0.096
	Power Products^*4	6.200	5.665	-0.535
Financial Results/ Forecasts (billion yen)	Sales revenue	14,552.6	16,250.0	+1,697.3
	Operating profit	871.2	810.0	-61.2
	Share of profit of investments accounted for using the equity method	202.5	230.0	+27.4
	Profit before income taxes	1,070.1	1,035.0	-35.1
	Profit for the year attributable to owners of the parent	707.0	710.0	+2.9
Annual dividend per share (yen)		120	120	―
Honda's Average Rate (yen)	USD=	112	120	JPY depreciated against the USD by 8 yen/dollar

<Supplemental data> Consolidated Financial Results for the Fiscal 4th Quarter Ended March 31, 2022 (FY22)

		4th quarter ended March 31, 2021 (3 months period)	4th quarter ended March 31, 2022 (3 months period)	Difference
Honda Group Unit Sales^*1 (million units)	Motorcycles	4.541	4.252	-0.289
	Automobiles^*3	1.121	1.074	-0.047
	Life Creation	1.768	1.700	-0.068
Consolidated Unit Sales*² (million units)	Motorcycles	3.001	2.757	-0.244
	Automobiles^*3	0.718	0.632	-0.086
	Life Creation	1.768	1.700	-0.068
Financial Results (billion yen)	Sales revenue	3,623.8	3,875.6	+251.8
	Operating profit	213.2	199.5	-13.6
	Share of profit of investments accounted for using the equity method	68.1	45.4	-22.6
	Profit before income taxes	255.3	224.9	-30.3
	Profit for the period attributable to owners of the parent	213.3	124.8	-88.4
Honda's Average Rate (yen)	USD=	106	116	JPY depreciated against the USD by 10 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 provided 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.

*4	Life creation business has been renamed Power product business effective April 1, 2022.

For Additional Information, please visit:

https://global.honda/investors/library/financialresult.html

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SOURCE Honda Motor Co., Ltd.

Honda Motor Co., Ltd. (HMC:NYSE) announced its Consolidated Financial Summary for the Fiscal Year Ended March 31, 2022 and Forecasts for the Fiscal Year Ending March 31, 2023