Honda Reports Net Income Up 46% for 2nd Quarter

Honda Motor Co., Ltd. (HMC; NYSE) has announced its consolidated financial results for the fiscal second quarter ended September 30, 2013.

Honda’s consolidated net income attributable to Honda Motor Co., Ltd. for the fiscal second quarter ended September 30, 2013 totaled JPY 120.3 billion (USD 1,231 million), an increase of 46.4% from the same period last year. Basic net income attributable to Honda Motor Co., Ltd. per common share for the quarter amounted to JPY 66.79 (USD 0.68), an increase of JPY 21.16 (USD 0.22) from JPY 45.63 for the corresponding period last year. One Honda American Depository Share represents one common share.

Consolidated net sales and other operating revenue (herein referred to as “revenue”) for the quarter amounted to JPY 2,890.2 billion (USD 29,567 million), an increase of 27.3% from the same period last year, due primarily to increased revenue in automobile and motorcycle business operations, as well as favorable foreign currency translation effects.

Consolidated operating income for the quarter amounted to JPY 171.4 billion (USD 1,754 million), an increase of 70.0% from the same period last year, due primarily to an increase in sales volume and model mix and favorable foreign currency effects, despite increased SG&A expenses.

Consolidated income before income taxes and equity in income of affiliates for the quarter totaled JPY 165.5 billion (USD 1,694 million), an increase of 55.8% from the same period last year.

Equity in income of affiliates amounted to JPY 31.6 billion (USD 324 million) for the quarter, an increase of 15.2% from the corresponding period last year.

Business Segment

In automobile business operations, revenue increased 26.2%, to JPY 2,229.0 billion (USD 22,803 million) from the same period last year. Operating income totaled JPY 80.1 billion (USD 820 million), an increase of 115.8% from the same period last year.

In motorcycle business operations, revenue increased 35.0%, to JPY 418.0 billion (USD 4,277 million) from the same period last year. Operating income totaled JPY 45.5 billion (USD 466 million), an increase of 79.3% from the same period last year.

In financial services business operations, revenue increased 30.4%, to JPY 170.0 billion (USD 1,739 million) from the same period last year. Operating income increased 21.7% to JPY 46.5 billion (USD 477 million) from the same period last year.

In power product and other businesses operations, revenue increased 12.6%, to JPY 73.1 billion (USD 748 million) from the same period last year. Honda reported an operating loss of JPY 0.8 billion (USD 8 million), a decrease of JPY 0.8 billion (USD 9 million) from the same period last year.

Tags: Honda

Category: General Update