ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
Home
Press release
Aug 05, 2020 18:45 JST
Source:
Honda
Honda's Consolidated Financial Summary for the Fiscal Q1 Ended June 30, 2020 and Forecasts for the FY Ending March 31, 2021
- During the fiscal first quarter, business stagnated and demand declined significantly on a global basis due to the COVID-19. Production and sales activities of all Honda operations were impacted, as a result, sales and profit for the fiscal first quarter experienced a year-on-year decrease.
- Concerning the current fiscal year forecast, although the future outlook remains uncertain due to the impact of the COVID-19, Honda plans to achieve an operating profit of 200.0 billion yen and profit before income taxes of 365.0 billion yen by further strengthening its company-wide initiatives to improve earnings.
- Quarterly dividend for the fiscal first quarter will be 11 yen per share (a year-on-year decrease of 17 yen per share); total dividends paid for the fiscal year planned to be 44 yen per share.
TOKYO, Aug 05, 2020 - (JCN Newswire) - I. Consolidated Financial Summary and category of business results for the Fiscal 1st Quarter ended June 30, 2020
- Sales revenue: 2,123.7 billion yen (a year-on-year decrease by 46.9%) due primarily to a decrease in sales revenue from all businesses.
- Operating loss: 113.6 billion yen (a year-on-year decrease by 366.1 billion yen) due primarily to a decrease in profit related to changes in sales volume and model mix. This was despite a decrease in selling, general and administrative (SG&A) expenses.
- Loss before income taxes: 73.4 billion yen
The impact of the COVID-19 is estimated to be approximately 440.0 billion yen.
- Loss for the period attributable to owners of the parent: 80.8 billion yen (a year-on-year decrease by 253.1 billion yen).
(1) Motorcycle business
Sales revenue: 274.2 billion yen (a year-on-year decrease by 258.7 billion yen) due primarily to a decrease in unit sales mainly in Asia caused by the impact of the COVID-19.
Operating profit: 11.2 billion yen (a year-on-year decrease by 58.6 billion yen). Despite a decrease in unit sales, profit was secured due primarily to a decrease in R&D and SG&A expenses.
(2) Automobile business
Sales revenue: 1,255.7 billion yen (a year-on-year decrease by 1,494.4 billion yen) due to a decrease in sales especially in the U.S., Japan and India caused by the impact of the COVID-19.
Operating loss: 195.8 billion yen (a year-on-year decrease by 316.2 billion yen) due primarily to a decrease in unit sales. This was despite a decrease in SG&A expenses. Honda has been making progress in improving its business structure through cost and expense reductions even during this challenging time.
(3) Financial services business:
Operating profit: 71.5 billion yen (a year-on-year increase by 5.7 billion yen) due primarily to a difference in recorded amounts of provisions for credit losses.
(4) Life Creation (power products) and other businesses
Operating loss: 0.5 billion yen (a year-on-year improvement by 2.9 billion yen) due primarily to a decrease in R&D and SG&A expenses.
Aircraft and aircraft engine business, which is included in the other businesses, accounted for operating loss of 7.1 billion yen.
II. Forecasts for the for the Fiscal Year Ending March 31, 2021 (FY21)
Although the future outlook remains uncertain due to the impact of the COVID-19, Honda plans to achieve operating profit of 200.0 billion yen and profit before income taxes of 365.0 billion yen by further strengthening its initiatives to improve earnings.
Honda is expecting to recover from the unfavorable impact of the COVID-19 toward the end of the fiscal year; however, the current fiscal year forecast for profit before income tax includes an approximately 665.0 billion yen impact of the COVID-19.
Honda will strive to further enhance its earnings structure by making steady progress in on-going initiatives to improve its business structure.
For the full report, visit
https://global.honda/newsroom/news/2020/c200805eng.html
.
Source: Honda
Sectors: Automotive
Copyright ©2021 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Latest Release
New roads await the Toyota Yaris WRC in Croatia
Apr 16, 2021 18:09 JST
Showa Denko Announces Share Transfer with Change in Subsidiary
Apr 16, 2021 16:30 JST
Fujitsu Updates Group Environmental Plan to Achieve Validation of 1.5 degrees Celcius - Aligned Emissions Reduction Targets, Contribute to Sustainable Future
Apr 16, 2021 10:17 JST
Local Production of Hitachi Automatic Analyzer 3500 to Commence in China
Apr 15, 2021 16:42 JST
NextDecade and Mitsubishi Heavy Industries America Execute Engineering Services Agreement for Carbon Capture at Rio Grande LNG Project in Texas
Apr 15, 2021 13:56 JST
Fujitsu Fuels Big Data Innovation in Mobility Space with Launch of "Digital Twin Collector" Platform
Apr 15, 2021 10:44 JST
Mitsubishi Power Receives Order for Two Gas Turbines for 1,500MW Class GTCC Power Plant in Uzbekistan
Apr 14, 2021 15:36 JST
Honda to Introduce First Energy Service for Europe - e:PROGRESS - in the UK
Apr 14, 2021 15:11 JST
Eisai to Present Latest Data on Neurology Products and Pipelines at the American Academy of Neurology Annual Meeting
Apr 14, 2021 13:49 JST
Mazda3 Named Canadian Car of the Year 2021
Apr 14, 2021 12:47 JST
Tokyo Century and DOCOMO to Globally Expand EDGEMATRIX Edge-AI Platform for Video Surveillance & Monitoring
Apr 13, 2021 17:57 JST
Fujitsu Renews Key Systems for Japan Meteorological Agency, Contributing to Completion of Centralized Virtualization Platform
Apr 13, 2021 15:28 JST
NEC recognized as a Partner of the Year by Juniper Networks for two consecutive years
Apr 13, 2021 11:52 JST
Eisai: Animation Featuring Lymphatic Filariasis Elimination Activities Receives Animation Award at International Society for Neglected Tropical Diseases Festival 2021
Apr 12, 2021 13:16 JST
Fujitsu Embarks on Partnership with Siemens Digital Industries Software Strengthening Global Competitiveness and Accelerating DX to Realize Smart, Sustainable Manufacturing
Apr 12, 2021 11:48 JST
Lexus to Display LF-Z Electrified Concept and New ES
Apr 12, 2021 11:09 JST
MHI Invests in Starfire Energy, a Modular Green Ammonia Solution Provider, to Accelerate Efforts to Energy Transition
Apr 09, 2021 17:22 JST
DENSO Develops Advanced Driver Assistance Products for New Lexus LS, Toyota Mirai
Apr 09, 2021 13:46 JST
Deltacore Capital launches Deltacore Digital Global LP
Apr 09, 2021 13:30 JST
Hitachi Astemo to showcase advanced mobility solutions at Auto Shanghai 2021
Apr 09, 2021 13:05 JST
More Latest Release >>
Related Release
Honda to Introduce First Energy Service for Europe - e:PROGRESS - in the UK
April 14 2021 14:11 JST
Overview of Honda and Acura Exhibits for Auto Shanghai 2021
April 08 2021 14:25 JST
A.P. Honda, Thai Honda Manufacturing and HPD have merged to form a new company named "Thai Honda Manufacturing" combining their sales and production capabilities
April 01 2021 18:00 JST
Honda Forza750, Jazz and Jazz Crosstar Named "Red Dot" Winners in Red Dot Design Award: Product Design 2021
March 31 2021 20:27 JST
Honda: Agreement Reached to Standardize Swappable Batteries for Electric Motorcycles
March 29 2021 07:07 JST
Honda Powered F1 Cars Start Pre-season Testing in Bahrain
March 12 2021 16:52 JST
Honda to Begin Sales of Legend with New Honda SENSING Elite
March 04 2021 15:29 JST
Honda Reports Production, Sales and Export Results in January, 2021
February 25 2021 14:27 JST
Honda Motor Co., Ltd. Announces New President & CEO
February 19 2021 16:23 JST
CMC Continues after Milestone Achievement
January 29 2021 11:06 JST
More Press release >>