Honda Announces Consolidated Financial Summary for the Fiscal 1st Quarter Ended June 30, 2007; All-time Q1 Record for Net Sales, Operating Income, Income before Income Taxes, and Net Income.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, July July: see month. 25, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Honda honda a quick release metal eyelet for the end of a lariat. When the restrained animal is no longer required it is not necessary to slacken off the loop and pull it over the head—a very great advantage when working with wild cattle or unbroken horses. Motor Co., Ltd. announced that it achieved its seventh consecutive all-time all-time adj. Exceeding all others up to the present time: an all-time speed skating record. all-time Adjective Informal record for first quarter's consolidated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight and other operating revenue operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. due to increased sales revenue in all business areas. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. increased and set an all-time record for a first quarter result due to increased profit from higher revenue, cost reduction effects, and positive currency effects of the depreciation of the Japanese Yen “Yen” redirects here. For the other use, see Yen (disambiguation). “JPY” redirects here. For the Australian singer with the same moniker, see John Paul Young. , despite the soaring soaring: see flight; glider. soaring or gliding Sport of flying a glider or sailplane. The craft is towed behind a powered airplane to an altitude of about 2,000 ft (600 m) and then released. raw materials costs and higher depreciation expenses and an increase in selling, general and administrative (SG&A) expenses and research and development (R&D) expenses. Honda also achieved all-time record results for a first quarter for income before income taxes and net income, and an all-time record for any quarter in equity in income of affiliates This refers to equity (income) generated from strategic investments in consolidated or unconsolidated affiliate companies, i.e. investments in which the investing company has significant influence over the operating and financial policies of the investee (the legal entity into which an . At the board of directors meeting held today, Honda resolved to pay 20 yen per share for the fiscal first quarter dividend with the record date of June 30, 2007. The total dividend to be paid for the entire fiscal year will be 80 yen per share. Results for Fiscal First Quarter Ended June 30, 2006 (*record high 1st quarter, **record high any quarter)
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(yen billions)
Q1 ended June 30,
2006 2007 Difference Change
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Net sales and
other operating
revenue 2,599.7 2,931.1* +331.3 +12.7%
Operating income 203.5 221.6* +18.1 +8.9%
Income before
income taxes(*1) 191.3 218.2* +26.8 +14.1%
Equity in income
of affiliates 30.1 37.0** +6.8 +22.6%
Net income 143.4 166.1* +22.7 +15.8%
Basic net income
per common share(Y)(*2) 78.46 91.38 +12.92 +16.5%
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(Honda's average rates: JPY 121 = U.S. dollar 1 / JPY162= Euro 1)
(*1)Income before income taxes for the previous fiscal year ended March
31, 2007 was adjusted to match the method used this current fiscal year.
(*2)As of July 1, 2006, one share of the Company's common share was split
into two. Basic net income per common share was calculated based on the
number of outstanding shares after this split.
Consolidated unit sales unit sales Sales measured in terms of physical units rather than dollars. Unit sales data are often used by financial analysts when evaluating the health of a company. : All-time record unit sales were realized in the automobile business. (The total includes fully finished products made by Honda and its subsidiaries as well as unit sales of fully finished products and parts produced locally by affiliates accounted for under the equity method.) - Motorcycles: 2.253 million units (-5.3%); the decrease was due to declined sales of production parts for overseas affiliates mainly in Asia which are accounted for under the equity method. (Unit sales of approximately 1.1 million units of Honda-brand motorcycle motorcycle, motor vehicle whose design is based on the bicycle. The German inventor Gottlieb Daimler is generally credited with building the first practical motorcycle in 1885. The motorcycle did not become dependable and popular, however, until after 1900. products are not included in the total listed above, in conformity with U.S. generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting , because they are manufactured and sold by overseas affiliates accounted for under the equity method, but do not use any parts supplied by Honda and its consolidated subsidiaries.) - Automobiles: 946 thousand units (+5.6%); the increase was due to higher sales in overseas markets, mainly in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia. This is the ninth consecutive year for automobile unit sales to increase in the fiscal first quarter. - Power Products: 1.529 million units (-11.3%); the decrease was due mainly to declined sales in North America. Consolidated revenue increased in all business areas and totaled JPY JPY In currencies, this is the abbreviation for the Japanese Yen. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2,931.1 billion (+12.7%), realizing an all-time record for the fiscal first quarter for the seventh consecutive year. Consolidated operating income increased in the fiscal first quarter for the fourth consecutive year and totaled JPY 221.6 billion (+8.9%), due to increased profit from higher revenue, cost reduction effects, and positive currency effects of the depreciation of the Japanese Yen which offset the soaring raw materials costs and higher depreciation expenses and an increase in SG&A expenses and R&D expenses. Consolidated Income before income taxes totaled JPY 218.2 billion (+14.1%), increasing in the fiscal first quarter for the second consecutive year. Equity in income of affiliates totaled JPY 37.0 billion (+22.6%), increasing in the fiscal first quarter for the eighth consecutive year due mainly to the increased income of affiliates in China accounted for under the equity method. Consolidated Net income totaled JPY 166.1 billion (+15.8%), increasing in the fiscal first quarter for the second consecutive year. Forecast for the Fiscal Year Ending March 31, 2008 Honda is planning for unit sales totals of 9.93million motorcycles, 3.96 million automobiles, and 6.22 million power products. (Unit sales of approximately 4.84 million units of Honda-brand motorcycle products are not included in this total, in conformity with U.S. generally accepted accounting principles, because they are manufactured and sold by overseas affiliates accounted for under the equity method, but do not use any parts supplied by Honda and its consolidated subsidiaries.) Honda will conduct its business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets based on the goals described in the following chart with assumption of the average currency exchange rate of JPY 117 = U.S. dollar 1 (average rate for the first half of the fiscal year: JPY 121, latter half of the fiscal year: JPY 113) and JPY 155= Euro 1 (first half: JPY 163, latter half: JPY 148).
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(yen billions)
Year ended March 31, 4/26
2007 2008 Diff. Change forecast
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Net sales and
other operating
revenue 11,087.1 12,350.0 +1,262.8 +11.4% 11,750.0
Operating income 851.8 880.0 +28.1 +3.3% 770.0
Income before
income taxes 792.8 885.0 +92.1 +11.6% 780.0
Equity in income
of affiliates 103.4 97.0 -6.4 -6.2% 114.0
Net income 592.3 625.0 +32.6 +5.5% 575.0
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About Honda Motor Co., Ltd. Honda Motor Co., Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :7267/NYSE:HMC/LSE:HNDA.L) is one of the leading manufacturers of automobiles and power products and the largest manufacture of motorcycles in the world. Honda has always sought to provide genuine satisfaction to people worldwide. The result is more than 120 manufacturing facilities in 30 countries worldwide, producing a wide range of products, including motorcycles, ATVs, generators, marine engines, lawn and garden equipment and automobiles that bring the company into contact with over 19 million customers annually. For more information, please visit http://world.honda.com. Source: Honda Motor Co., Ltd. Contact: Honda Motor Co., Ltd. Corporate Communications Division corporate_pr@hm.honda.co.jp Telephone: +81-(0)3-5412-1512 Facsimile: +81-(0)3-5412-1545 Japan Corporate News Network. All rights reserved. |
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