Honda Announces Consolidated Financial Summary for the Fiscal 3rd Quarter Ended December 31, 2006.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, Jan 31, 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 realized a 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 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. (herein referred to as "revenue") for the fiscal third quarter due to increased sales revenue in all business areas. Consolidated 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. also increased to achieve a second consecutive all-time record for the fiscal third quarter, 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 changes in the model mix, 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 material costs, and an increase in selling, general and administrative (SG&A), and research and development (R&D) expenses. For the fiscal third quarter, income before income taxes and net income increased for the first time in a third quarter in three years. At the board of directors meeting held today, January January: see month. 31, 2007, Honda resolved to pay 17 yen per share for the fiscal third quarter dividend with the dividend date of record as December 31, 2006. The year-end dividend Year-end dividend A special dividend declared at the end of a fiscal year that usually represents distribution of higher-than-expected company profits. year-end dividend See final dividend. is to be 17 yen. Combined with an interim dividend of 30 yen, the total dividend to be paid for the entire fiscal year is 64 yen. (Note) As of July 1, 2006, one share of the Company's common stock was split into two. Had the stock split not been carried out, the interim dividend would have been 60 yen per share, which is an increase of 20 yen per share and the annual dividend would have been 128 yen, which is an increase of 28 yen per share. Results for third quarter ended Dec. 31, 2006 (*record high for fiscal third quarter.)
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Yen (billions)
3rd Quarter ended 3rd Quarter ended Difference
Dec. 31, 2005 Dec. 31, 2006 (% change)
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Net sales and other
operating revenue 2,472.0 2,768.6* +296.6(+12.0)
Operating income 194.9 205.1* +10.1(+ 5.2)
Income before
income taxes 166.0 191.5 +25.4(+15.3)
Equity in income of
affiliates 29.6 25.8 -3.8(-13.0)
Net income 133.1 144.8 +11.6(+8.8)
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EPS (Note) JPY72.41 JPY79.45 JPY+7.04(+9.7)
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(Honda's average rates: JPY 118 = U.S. dollar 1, JPY 152 = Euro 1)
(Note) As of July 1, 2006, one share of the Company's common stock
was split into two, and EPS was calculated based on the issued shares
after this 1:2 stock 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 achieved in the automobile and power product business areas for the fiscal third quarter. (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: 2.765 million units (-0.8%); the decrease was due mainly to a drop in sales 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. , despite a sales increase in South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . (Unit sales of approximately 0.64 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: 915 thousand units (+12.1%); the increase was due to increased sales in overseas markets mainly in North America, Europe, and Asia. Power Products: 1.382 million units (+21.9%); the increase was due to sales growth in overseas markets mainly in North America and Asia. Consolidated revenue rose to 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. 2,768.6 billion (+12.0%), a seventh consecutive all-time record for the fiscal third quarter, due to increased sales in all business areas. Consolidated operating income totaled JPY 205.1 billion (+5.2%), the second consecutive all-time record for the fiscal third quarter. The increased profit from higher revenue, cost reduction effects, and positive effects of the depreciation of the Japanese Yen offset the negative impacts of changes in model mix, soaring raw material costs, and increases in selling, general and administrative (SG&A), and research and development (R&D) expenses. Income before income taxes increased to JPY 191.5 billion (+15.3%), for the first increase in a fiscal third quarter in three years. 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 decreased to JPY 25.8 billion (-13.0%) due primarily to decreased income in some affiliates mainly in Asia. Consolidated net income was JPY 144.8 billion (+8.8%), for the first increase in a fiscal third quarter in three years. Results for the first nine months of the fiscal year (April to December 2006) Consolidated net sales and other operating revenue for the first nine months of the fiscal year (April to December) totaled JPY 7,999.2 billion (+13.1%), a sixth consecutive all-time record. Consolidated operating income for the period was JPY 601.6 billion (+13.9%), consolidated income before income taxes was JPY 537.4 billion (+12.0%), equity in income of affiliates totaled JPY 83.4 billion (+8.6%), and consolidated net income totaled JPY 416.1 billion (+10.2%). Forecast for fiscal year ending March 31, 2007 Honda aims to achieve JPY 11.1 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. of consolidated revenue for the fiscal year ending March 31, 2007, which would be a seventh consecutive all-time record, based on the unit sales plan of 10.46 million motorcycles, 3.665 million automobiles and 6.12 million power products. (Unit sales of approximately 2.88 million units of Honda-brand motorcycle products are not included in the total listed above, 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 carry out 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 and JPY 149 = Euro 1 (average rate for the fiscal fourth quarter: JPY 118 =U.S. dollar 1, JPY 153 = Euro 1 ).
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Yen (billions)
(Reference):
Forecast for Previous
Year ended year ending Difference forecast
March 31, March 31, (% change) made on
2006 2007 October 25,
2006
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Net sales and 9,907.9 11,100.0 +1,192.0 11,000.0
other operating (+12.0%)
revenue
Operating income
[gain on 868.9 820.0 -48.9 (-5.6%) 820.0
Daiko-Henjo* [730.8] [+89.1 (+12.2%)]
excluded]
Income before
income taxes
[gain on 814.6 755.0 -59.6 (-7.3%) 745.0
Daiko-Henjo* [676.6] [+78.3 (+11.6%)]
excluded]
Equity in 99.6 02.0 +2.3 (+2.4%) 101.0
income of
affiliates
Net income 597.0 560.0 -37.0 (-6.2%) 555.0
[gain on [514.2] [+45.7 (+8.9%)]
Daiko-Henjo*
excluded]
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* the return of the substitutional portion of the Employees' Pension
Funds to the Japanese government.
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. Media Inquiries corporate_pr@hm.honda.co.jp +81-3-5412-1512 Copyright [c] 2007 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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