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05 19-13 honda presentation-q4_2013

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  • 1. 1FY13 Financial ResultsACURA RLX(North America)Honda Motor Co., Ltd.April 26, 2013
  • 2. 2FY13 Financial Results & FY14 Financial ForecastsTetsuo IwamuraExecutive Vice President- FY13 Financial Results- FY14 Financial Forecasts- DividendKohei TakeuchiChief Financial Officer- FY13 Consolidated Financial Results4th Quarter Consolidated Financial ResultsNet Sales and Other Operating RevenueChange in Income before Income TaxesBusiness Segment InformationGeographical InformationChange in Equity in Income of AffiliatesConsolidated Capital Expenditures- FY14 Financial Forecasts
  • 3. 3ChangeFY13FY12Honda Group Unit Sales(Consolidated Unit Sales)+ 4.3%(+ 4.3%)6,071(6,071)5,819(5,819)Power Products+ 29.2%(+ 37.3%)4,014(3,408)3,108(2,482)Automobiles+ 2.9%(+ 9.9%)15,494(9,510)15,061(8,650)MotorcyclesTwelve MonthsChangeFY13FY12Twelve MonthsFinancialResults- 17.6 %82.7100.4Equity in income ofaffiliates+ 73.6%367.1211.4Net income attributableto Honda Motor Co., Ltd.+ 89.9%488.8257.4Income before incometaxes+ 135.5%544.8231.3Operating income+ 24.3%9,877.97,948.0Net sales & otheroperating revenueOutline of FY13 Financial Results (Consolidated)(thousand)Yen (billion)approx.1,802,298,000 sharesapprox.1,802,300,000 sharesNote : Shares which EPScalculation is based on:+ 86.37203.71117.34EPS attributable toHonda Motor Co., Ltd.(Yen)108108EuroYen downby 5 yen8479US Dollar(weighted average number of shares outstanding )Average Rates (Yen)Financial SummaryFinancial HighlightsOperating income amounted to 544.8 billionyen, a sharp rise of 135.5% mainly due astrong recovery from the Great East JapanEarthquake and Thai flood and the positiveimpact of new model introductions, primarilyin North America, Asia and Japan.Operating Income- Increased unit sales- Positive impact on fixed costs due to increasedproduction- Cost reduction efforts- Favorable currency effectsNet Sales and Operating Revenue- Increased unit sales- Favorable foreign currency translation effectsHonda Group Unit SalesMotorcycle:Increased in Asia and North AmericaDecreased in “Other regions”, mainly in BrazilAutomobile:Increased in all regionsPower Products:Increased in North America, Asia and “Otherregions”
  • 4. 4Change+ 212.8+ 32.2+ 291.1+ 235.1+ 2,222.0amount580.0115.0780.0780.012,100.0FY14Forecasts+ 39.0%82.7Equity in income ofaffiliates+ 58.0%+ 59.5%+ 43.2%+ 22.5%%367.1Net income attributable toHonda Motor Co., Ltd.488.8Income beforeincome taxes544.8Operating income9,877.9Net sales & otheroperating revenueFY13Results+ 118.10321.81203.71EPS attributable toHonda Motor Co., Ltd.(Yen)12095Yen down by 12 yenYen down by 11 yen108Euro84US DollarFY14 Financial Forecasts (Consolidated)Yen (billion)Note : Shares which EPScalculation is based on:(weighted average numberof shares outstanding )approx.1,802,298,000 sharesapprox.1,802,297,000 shares(weighted average numberof shares outstanding )Average Rates (Yen)
  • 5. 5FY14ForecastsFY13ResultsFY12Results234.3%379.9%-18.4%%154.7193.8103.93,244.046.240.3- 136.72,740.0%+ 68.1%+ 85.7%+ 63.6%+ 11.9%260.0Net income360.0Ordinaryincome170.0Operatingincome (loss)3,630.0Net salesYen down by12 yenYen down by11 yen120951087910884-Yen down by5 yenEuroUS DollarFY13 Financial Results and FY14 Financial Forecasts (Unconsolidated)Yen (billion)Average Rates (Yen)
  • 6. 6Increase/DecreasefromFY12 Results( + 16 )( + 4 )+ 4+ 4+ 46015151515FY12Results( + 1 )( + 1 )( 20 )( 19 )4th quarter End( + 1 )( 20 )193rd quarter End( 20 )191st quarter End ( + 1 )( 20 )192nd quarter EndIncrease/Decreasefrom FY13( + 4 )( 76 )FY13Results &ProjectionDividend per Share( 80 )Fiscal YearFY14ExpectationDividend(Yen)( ) figures in parenthesis are expected results
  • 7. 7FY13 Financial Results & FY14 Financial ForecastsTetsuo IwamuraExecutive Vice President- FY13 Financial Results- FY14 Financial Forecasts- DividendKohei TakeuchiChief Financial Officer- FY13 Consolidated Financial Results4th Quarter Consolidated Financial ResultsNet Sales and Other Operating RevenueChange in Income before Income TaxesBusiness Segment InformationGeographical InformationChange in Equity in Income of AffiliatesConsolidated Capital Expenditures- FY14 Financial Forecasts
  • 8. 8ChangeFY13FY12Honda Group Unit Sales(Consolidated Unit Sales)- 2.3%(- 2.3%)1,963(1,963)2,010(2,010)Power Products+ 1.1%(+ 8.5%)1,033(902)1,022(831)Automobiles- 4.9%(+ 0.3%)3,962(2,490)4,164(2,483)Motorcycles4Q Results (Three Months)ChangeFY13FY124Q Results (Three Months)FinancialResults- 60.7 %13.033.2Equity in income ofaffiliates+ 5.8%75.771.5Net income attributableto Honda Motor Co., Ltd.+ 5.4%98.093.0Income before incometaxes+ 21.4%135.9111.9Operating income+ 14.1%2,744.92,405.0Net sales & otheroperating revenue(thousand)approx.1,802,298,000 sharesapprox.1,802,300,000 sharesNote : Shares which are basedon calculation of EPS+2.3142.0339.72EPS attributable toHonda Motor Co., Ltd.(Yen)Yen downby 18 yen122104EuroYen downby 13 yen9380US Dollar(weighted average number of shares outstanding )Average Rates (Yen)Financial SummaryFinancial HighlightsYen (billion)Outline of FY13 4th Quarter Financial Results (Consolidated)Operating income amounted to 135.9 billionyen, an increase of 21.4% mainly due toincreased revenue in automobile businessoperations in Asia as a result of a productionrecovery from the Thai flood and favorablecurrency effects.Operating Income- Cost reduction efforts- Favorable currency effectsNet Sales and Operating Revenue- Increased unit sales- Favorable foreign currency translation effectsHonda Group Unit SalesMotorcycle:Increased in North AmericaDecreased in Asia and “Other regions”, mainlyin BrazilAutomobile:Increased in Asia and “Other regions”Power Products:Increased in North AmericaDecreased in Asia
  • 9. 9(- 2.5 %)(+ 4.1 %) (+ 2.2 %) (+ 0.9 %)Net Sales byBusiness Segment4QFY12 FY13Motorcycle Business 358.5 375.3Automobile Business 1,844.9 2,136.9Financial ServicesBusiness 129.0 151.4Power Product &Other Businesses 72.5 81.1Total 2,405.0 2,744.9US Dollar 79 92Euro 104 122Excluding currency translation effects + 71.2 ( + 3.0 %)2,405.0- 8.8+ 76.5 + 2.8 + 0.6+ 268.6 2,744.9+ 339.8 ( + 14.1 %)(+ 3.4 %)(+ 29.6 %) (- 0.4 %)Excluding currency translation effects + 1,773.9 (+ 22.3 %)7,948.0+ 45.2+ 1,721.4 + 8.4 - 1.2 + 155.9 9,877.9(+ 1.6 %)Net Sales byBusiness SegmentTwelve monthsFY12 FY13Motorcycle Business 1,348.8 1,339.5Automobile Business 5,805.9 7,709.2Financial ServicesBusiness 516.1 548.5Power Product &Other Businesses 277.1 280.6Total 7,948.0 9,877.9US Dollar 79 83Euro 109 107+ 1,929.8 (+ 24.3 %)Net Sales and Other Operating Revenue4th Quarter (Three months)Twelve MonthsFY12 4Q FY13 4QYen (billion)FY12Twelve MonthsFY13Twelve MonthsYen (billion)Market average rates*BR Real 43 40MotorcycleBusinessAutomobileBusinessFinancial ServicesBusinessPower Product&Other BusinessesCurrency EffectsMotorcycleBusinessAutomobileBusinessFinancial ServicesBusinessPower Product&Other BusinessesCurrency EffectsMarket average rates*BR Real 48 41
  • 10. 10Income before Income taxes + 5.0 ( + 5.4 % )93.0 98.0- 32.2+ 15.0 - 8.0- 8.1+ 57.4+ 20.4 - 39.4Operating Income + 24.0 ( + 21.4 % )Other Income& Expenses- 18.9Change in Income before Income Taxes <FY13 4th Quarter>Yen(billion)OperatingIncome111.9OperatingIncome135.9FY12 4Q FY13 4Q*Please refer to Exhibit 1 regarding currency effects<Decrease Factors>- Increased selling expenses due tosales increase- Advertisement expenses, etc.Revenue,model mix, etc.Cost Reduction, etc.Increase in SG&AIncrease in R&D Currency EffectsUnrealized gains andlosses related toderivative instruments(Exhibit 2)Other- Currency effects due to difference betweenaverage sales rates and transaction rates - 30.4- Other - 8.9
  • 11. 11Income before Income taxes + 231.4( + 89.9 % )488.8+ 293.4+ 166.6 - 141.9- 40.4 + 35.8 - 36.8- 45.0Operating Income + 313.4( + 135.5 % )Other Income& Expenses- 81.9257.4Change in Income before Income Taxes <FY13 Twelve Months >FY12Twelve MonthsFY13Twelve MonthsOperatingIncome231.3OperatingIncome544.8*Please refer to Exhibit 1 regarding currency effectsYen(billion)<Increase Factors>-Increase in unit sales and model mix, etc.<Decrease Factors>- Increased sales incentives, etc.<Increase Factors>- Decreased fixed cost per unit due toincreased production- Cost reduction efforts, etc.<Decrease Factors>- Increased selling expenses due tosales increase- Advertisement expenses, etc.- Currency effects due to difference betweenaverage sales rates and transaction rates - 49.4- Other + 4.3Revenue,model mix, etc.Cost Reduction, etc.Increase in SG&AIncrease in R&D Currency Effects Unrealized gains andlosses related toderivative instruments(Exhibit 2)Other
  • 12. 1202,0004,0006,0008,00010,00012,00014,00016,000- 202( - 4.9% )2,8786246523,285604483,91159594283,3633,9625269502,03112,41215,06119820022015,494+ 433( + 2.9% )Unit(thousand)FY13 4QChange fromFY12 4QMajor increase / decrease factorsJapan 50 - 4- Positive impact of NC700S, INTEGRA, PCX150 and CRF250L model introductions- Decreased sales of Today, PCX and other scooter modelsNorthAmerica69 + 16- U.S: Increased sales of Four Trax Foreman and Four Trax Rancher (ATVs);Gold Wing sales increase;Positive impact of Gold Wing F6B, CRF250L and CRF110 introductions- U.S.: Decreased sales of CBR250R, CBR600RR and CBR1000RREurope 52 - 6- Positive impact of CB1100, CB500F and CBR500R model introductions inGermany and France- Decreased sales of INTEGRA in Southern Europe due to marrket contractionAsia 3,363 - 86- India: Positive impact of Dream Yuga intro; increased CB Shine,CB Unicorn sales- Indonesia: Increased sales of BeAT, lower sales due to down-payment regulation- Vietnam: Decreased sales of Air BladeOtherRegions428 - 122- Brazil: Positive impact of BIZ100 and NC700X introductions- Brazil: Decreased sales due to limited availability of financingTotal 3,962 - 2024393,4773,1024753635463,811 4,1645853543,162384893,80660571,81313,0351792502175503,4492,9833148514963,6093,225294483,8156251NC700X(North America)Motorcycle Honda Group Unit Sales (Motorcycles + All-Terrain Vehicles, etc.)4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1QAsiaEuropeOtherRegionsJapanNorthAmericaUnit(thousand)
  • 13. 1336.825.432.8 25.2110.238.944.925.8 22.8142.613.6%10.6%8.2%10.9%8.2%6.7%9.2%10.6%7.4%8.5%0204060801001201400%4%8%12%( + 4.7 % ) ( - 0.7 % )( - 23.2 % )( - 22.7 % )4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1Q15,494(9,510)15,061(8,650)3,962(2,490)3,815(2,350)3,806(2,304)3,911(2,366)4,164(2,483)3,609(2,031)3,811(2,187)3,477(1,949)Honda GroupUnit Sales(ConsolidatedUnit Sales)375.34Q307.83Q346.61QFY13309.72Q1,348.812 MonthsFY12 FY13FY12358.54Q1,339.5302.5357.3330.3NetSales12 Months3Q2Q1QUnit(thousand)Yen(billion)Motorcycle Business Net Sales/Operating Income (Margin)Yen(billion)Operating MarginOperating IncomeCurrency Effect + 25.6(Revenue from sales toexternal customers)Currency Effect - 54.5(Revenue from sales toexternal customers)<Decrease Factors>- Decreased sales volume and model mix,- Increased R&D expenses, etc
  • 14. 1405001,0001,5002,0002,5003,0003,5004,0004,500+ 11( + 1.1% )216355762522592512361,022454632272623963999450185802801,033504232002028373,1081581,323588+ 906( + 29.2% )Unit(thousand)FY13 4QChange fromFY12 4QMajor increase / decrease factorsJapan 200 - 27- Increased sales of N BOX, positive impact of N BOX+, N-ONE introductions- Increased sales of STEP WGN- Decreased sales of FIT SHUTTLE and LIFENorthAmerica423 - 40- U.S.: Increased sales of RDX- U.S.: Decreased sales of CR-V and MDXEurope 50 + 5- Increased sales of CIVIC with 1.6L diesel engine in England- Increased sales of CR-V in England, France, Spain and ItalyAsia 280 + 44- Recovery from impact of the Thai flood- Thailand: Positive impact of BRIO AMAZE introduction- China: Decrease in salesOtherRegions80 + 29- Brazil: Increased sales of CIVIC, FIT and CITY models- Australia: Increased sales of CIVIC and CR-V modelsTotal 1,033 + 11190404667826913330144789964041692981,1224,0141711,73169219538487833661362793877986454138RDX(North America)4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1QAsiaEuropeOtherRegionsJapanNorthAmericaAutomobile Honda Group Unit SalesUnit(thousand)
  • 15. 15-76.2-77.2-16.9-29.1 37.1 70.9100.645.177.2285.93.7%-1.3%-6.5%-1.2%2.4%5.3%-2.2%2.1%3.7% 3.6%-150-100-50050100150200250300-9%-6%-3%0%3%6%9%12%15%( + 15.6 % ) ( + 32.6 % )( + 71.1 % )4,014(3,408)3,108(2,482)1,033(902)986(841)996(816)999(849)1,022(831)783(622)678(571)625(458)Honda GroupUnit Sales(ConsolidatedUnit Sales)2,140.64Q1,918.43Q1,894.71QFY131,769.72Q5,822.712 MonthsFY12 FY13FY121,851.14Q7,723.51,455.61,337.11,178.8NetSales12 Months3Q2Q1QUnit(thousand)Yen(billion)Automobile Business Unit Sales/Net Sales/Operating Income (Margin)4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1QOperating MarginOperating IncomeYen(billion)Currency Effect + 215.4(Revenue from sales to externalcustomers)Currency Effect + 181.8(Revenue from sales to externalcustomers)<Increase Factors>- Cost reduction,- Positive currency effects, etc<Decrease Factors>- Increased SG&A expenses, etc
  • 16. 1601,0002,0003,0004,0005,0006,000- 47( - 2.3% )3993071091,5125771201433942,010414970894212361281,625758825205,8191,1212,314392+ 252( + 4.3% )Unit(thousand)FY13 4QChange fromFY12 4QMajor increase / decrease factorsJapan 81 - 8- Positive impact of HRE330/370 lawnmower model introductions- Decreased OEM sales of GX engine due to lower demand for generatorsNorthAmerica984 14- Increased OEM sales of GC/GCV engines for lawn mowers, high-pressure washers- Increased sales of generator models due to gradual recovery of U.S. leisure marketEurope 412 - 2- Increased sales of GX engine- Decreased sales of small tillers, small generators and outboard motors due tosovereign debt crisisAsia 348 - 46- Increased OEM sales of GX engine for generators- India: Decreases sales of pumps due to reduction of subsidyOtherRegions138 - 5 - Middle East: Decreased sales of pumps and enginesTotal 1,963 - 471343901,2762004371151524621,288150436881383481,963412984811,4721342891,021200330681593411,195206426635771,5726,0711,0042,604314EU2000i(North America)Power Products Honda Group Unit SalesUnit(thousand)AsiaEuropeOtherRegionsJapanNorthAmerica4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1Q
  • 17. 170.05-0.1-9.5-7.4-2.00.2 -2.1 0.07-4.0-2.2-3.3%0.4%-0.2%-3.3%- 8.9%-2.7%0.1%-3.2%0.1%-1.4%-30-20-100102030-20%-15%-10%-5%0%5%10%15%20%( + 9.9 % ) ( + 0.7 % )<Decrease Factors>-Increased R&D expenses, etcPower Product & Other Businesses Unit Sales/Net Sales/Operating Income (Margin)6,071(6,071)5,819(5,819)1,963(1,963)1,195(1,195)1,288(1,288)1,625(1,625)2,010(2,010)1,021(1,021)1,276(1,276)1,512(1,512)Honda GroupUnit Sales(ConsolidatedUnit Sales)83.14Q71.33Q69.91QFY1367.22Q289.712 MonthsFY12 FY13FY1275.64Q291.668.072.173.9NetSales12 Months3Q2Q1QUnit(thousand)Yen(billion)Currency Effect + 7.9(Revenue from sales to externalcustomers)4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1QCurrency Effect + 4.7(Revenue from sales to externalcustomers)Operating MarginOperating IncomeYen(billion)
  • 18. 1853.642.8 40.8 38.235.9 40.9158.137.5 38.1170.038.7%33.2%30.5%28.7% 28.2%26.4%27.4%29.5%27.6%32.3%0204060801001201401601802000%10%20%30%40%50%( + 18.1 % ) ( + 6.4 % )( + 13.8 % )( - 7.0 % )Financial Services Business Total Assets/Net Sales/Operating Income (Margin)154.96,765.34Q138.16,197.23Q5,577.75,576.65,644.35,290.55,169.25,445.7Total Assetsof FinanceSubsidiaries133.12Q526.512 MonthsFY12134.01QFY13 FY13FY12131.24Q560.2127.5129.1138.6NetSales12 Months3Q2Q1QCurrency Effect + 19.6(Revenue from sales to externalcustomers)Currency Effect + 23.8(Revenue from sales to externalcustomers)Yen(billion)Operating MarginOperating Income4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1Q<Increase Factors>- Decreased SG&A expenses- Positive currency effect, etcYen(billion)
  • 19. 1912.5178.4-109.846.640.730.060.9-41.2-35.3-45.8-150-100-50050100150200( 4.4 % )( 1.2 % )( - 0.9% )( 4.6 % )( - 3.3 % )( + 15.8% )( + 270.7 % )Net Sales/Operating Income (Margin)Japan3,893.53,362.91,059.3902.3925.01,006.61,069.0863.1805.3625.3NetSales12 Months12 Months4Q3Q2Q1Q4Q3Q2Q1QFY13FY12FY13FY12Yen(billion)Yen(billions)Operating IncomeOperating Margin (%)4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1Q<Increase Factors>- Decreased SG&A expenses,- Positive currency effects, etc<Decrease Factors>- Decreased sales volume and model mix, etc
  • 20. 2018.5 47.7 74.8 82.226.770.8208.9223.229.082.2050100150200250300( 6.8 % )( 2.2 % )( + 11.8 % )( - 64.7 % )( 6.0 % )( 4.3 % )( - 6.4 % )( + 30.8 % )( - 64.7 % )( - 6.4 % )Net Sales/Operating Income (Margin)North America4,857.13,714.71,341.71,245.81,054.71,214.71,200.3986.2794.1733.9NetSales12 Months12 Months4Q3Q2Q1Q4Q3Q2Q1QFY13FY12FY13FY12Yen(billion)4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1QYen(billions)Operating IncomeOperating Margin (%)<Increase Factors>- Positive currency effects, etc<Decrease Factors>- Decreased sales volume and model mix,- Increased SG&A expenses etc
  • 21. 210.41.8-12.120.4-3.5-8.7-7.6-6.1 -4.0 -3.8-25-20-15-10-50510152025( 9.9 % )( 1.1 % )( + 24.7% )( - 2.1 % )( 0.1 % )( + 10.6% )4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1Q642.1580.7206.8142.8144.5147.8165.8119.4144.5150.9NetSales12 Months12 Months4Q3Q2Q1Q4Q3Q2Q1QFY13FY12FY13FY12Net Sales/Operating Income (Margin)EuropeYen(billion)Yen(billions)Operating IncomeOperating Margin (%) <Increase Factors>- Increased sales volume and model mix,- Decreased SG&A expenses etc
  • 22. 2225.1 21.8 13.3 16.531.7 36.4 40.5 38.076.8 146.7020406080100120140160180( 5.7 % )( 4.2 % )( + 70.1% )( + 129.9% )( 5.2 % )( 6.4 % )( + 90.9% )( + 54.7% )2,305.61,490.4665.9587.4539.4512.8391.5317.6407.7373.4NetSales12 Months12 Months4Q3Q2Q1Q4Q3Q2Q1QFY13FY12FY13FY12Net Sales/Operating Income (Margin)AsiaYen(billions)Operating IncomeOperating Margin (%)Yen(billion)4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1Q<Increase Factors>- Increased sales volume and model mix- Cost reduction, etc<Decrease Factors>- Increased SG&A expenses, etc
  • 23. 2335.656.910.22.610.512.25.612.523.015.7010203040506070( 4.6 % )( 2.6 % )( + 5.3% )( + 81.6% )( 6.4 % )( 4.0 % )( - 37.3% )( + 0.4% )Net Sales/Operating Income (Margin)Other Regions896.4893.1223.9222.5229.6220.3212.6206.1244.3229.9NetSales12 Months12 Months4Q3Q2Q1Q4Q3Q2Q1QFY13FY12FY13FY12Yen(billion)Yen(billions)Operating IncomeOperating Margin (%)<Increase Factors>- Increased sales volume and model mix- Cost reduction, etc<Decrease Factors>- Negative currency effects, etc4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1Q
  • 24. 2428.615.522.9 21.482.7100.433.213.027.420.713.978.287.918.025.320.821.514.822.129.30102030405060708090100110120- 20.2( - 60.7% )- 17.6( - 17.6 % )4Q3QFY13FY12FY13FY1212 Months12 Months1Q 2Q4Q3Q2Q1QTotal AsiaYen(billions)Change in Equity in income of affiliates
  • 25. 2510.0Power Product &Other Businesses406.5Total0.3Financial ServicesBusiness334.1AutomobileBusiness62.0MotorcycleBusiness14.5Power Product &Other Businesses593.6Total0.5Financial ServicesBusiness505.0AutomobileBusiness73.5MotorcycleBusinessExcluding currency translation effects + 180.0 ( + 44.3 % )+ 162.3406.5 + 13.3+ 0.2 + 4.1 + 6.9 593.6+ 187.0 ( + 46.0 % )Consolidated Capital Expenditures <FY13 Twelve Months>Yen(billion)FY12 Twelve MonthsMarket average ratesUS$ 1= JPY 79Euro 1= JPY 109Yen (billions)* Capital expenditures in results aforementioned exclude investmentin operating leases, capital leases and intangible assets Market average ratesUS$ 1= JPY 83 (Yen down by 4 yen)Euro 1= JPY 107 (Yen up by 2 yen)FY13 Twelve MonthsYen (billions)MotorcycleBusinessAutomobileBusinessFinancialServicesBusinessPower product&Other BusinessesCurrencyTranslationEffects
  • 26. 26FY13 Financial Results & FY14 Financial ForecastsTetsuo IwamuraExecutive Vice President- FY13 Financial Results- FY14 Financial Forecasts- DividendKohei TakeuchiChief Financial Officer- FY13 Consolidated Financial Results4th Quarter Consolidated Financial ResultsNet Sales and Other Operating RevenueChange in Income before Income TaxesBusiness Segment InformationGeographical InformationChange in Equity in Income of AffiliatesConsolidated Capital Expenditures- FY14 Financial Forecasts
  • 27. 2702,0004,0006,0008,00001,0002,0003,0004,0005,00005,00010,00015,00020,00013,0351,81315,4946921,7311711,1224,0142986,0711,0043142,6045771,57214,7501,92517,4008251851,3253004,4306,2009652852,7155151,7201,795+ 416( + 10.4 % )+ 1,906( + 12.3 % )+ 129( + 2.1 % )Forecast: Honda Group Unit SalesMotorcycles Automobiles Power ProductsUnit(thousand)OtherRegionsAsiaEuropeNorthAmericaJapanFY13 FY14ForecastsFY13 FY14ForecastsFY13 FY14Forecasts217250179235315175
  • 28. 2802,0004,0006,0008,00003,0006,0009,00012,00001,0002,0003,0004,0002172501797,0511,8139,5106851,7311715233,4082986,0711,0043142,6045771,5722353151758,3501,92511,0008151,7951855753,6703006,2009652852,7155151,720+ 1,490( + 15.7 % )+ 262( + 7.7 % )+ 129( + 2.1 % )Forecast: Consolidated Unit SalesMotorcycles Automobiles Power ProductsUnit(thousand)FY13 FY14ForecastsFY13 FY14ForecastsFY13 FY14ForecastsOtherRegionsAsiaEuropeNorthAmericaJapan
  • 29. 29Change+ 212.8+ 32.2+ 291.1+ 235.1+ 2,222.0amount580.0115.0780.0780.012,100.0FY14Forecasts+ 39.0%82.7Equity in income ofaffiliates+ 58.0%+ 59.5%+ 43.2%+ 22.5%%367.1Net income attributable toHonda Motor Co., Ltd.488.8Income beforeincome taxes544.8Operating income9,877.9Net sales & otheroperating revenueFY13Results+ 118.10321.81203.71EPS attributable toHonda Motor Co., Ltd.(Yen)12095Yen down by 12 yenYen down by 11 yen108Euro84US DollarFY14 Financial Forecasts (Consolidated)Yen (billion)Note : Shares which EPScalculation is based on:(weighted average numberof shares outstanding )approx.1,802,298,000 sharesapprox.1,802,297,000 shares(weighted average numberof shares outstanding )Average Rates (Yen)
  • 30. 30Income before Income taxes + 291.1( + 59.5 % )488.8780.0+ 131.6+ 20.0 - 117.0- 47.5+ 248.0+ 77.0 - 21.0Operating Income + 235.1 ( + 43.2 % )Other Income& Expenses+ 55.9Forecast: Change in Income before Income TaxesOperatingIncome544.8FY13 FY14ForecastOperatingIncome780.0Yen (billion)Revenue,model mix,etc.Cost Reduction,etc.increasein SG&AIncreasein R&DCurrencyEffectsUnrealized gainsand lossesrelated toderivativeinstrumentsOther
  • 31. 31+ 69.8+ 73.4+ 106.4Change560.2286.6593.6FY13Results630.0360.0700.0FY14ForecastsR&D expensesDepreciation andAmortizationCapitalexpenditures**Forecast: Capital Expenditures, Depreciation, R&D Expenses* “Capital expenditures” in results and the forecast aforementioned exclude investment in operating leases, capital leases and acquisition ofintangible assets.* “Depreciation and amortization” in results and the forecast aforementioned exclude depreciation of investment in operating leases, capitalleases and amortization of intangible assets.Yen(billion)
  • 32. 3232Caution with Respect to Forward-Looking Statements:This slide contains forward-looking statements about the performance of Honda, which are based on management’sassumptions and beliefs taking into account information currently available to it. Therefore, please be advised thatHonda’s actual results could differ materially from those described in these forward-looking statements as a result ofnumerous factors, including general economic conditions in Honda’s principal markets and foreign exchange ratesbetween the Japanese yen and the U.S. dollar, the Euro and other major currencies, as well as other factors detailedfrom time to time.Accounting standards:Our consolidated financial standards are prepared in conformity with U.S. generally accepted accounting principles.Notice on the Factors for Increases and Decreases in Income:With respect to the discussion above of the change in operating income, management has identified the factors set forthbelow and used what it believes to be a reasonable method to analyze the respective changes in such factors. Each ofthese factors is explained below. Management has analyzed changes in these factors at the levels of the Company andits material consolidated subsidiaries.(1)“Foreign currency effects” consist of translation adjustments, which come from the translation of the currency offoreign subsidiaries’ financial statements into Japanese Yen, and foreign currency adjustments, which result fromforeign-currency-denominated sales, which, at the levels of the Company and those consolidated subsidiaries whichhave been analyzed, primarily relate to the following currencies: U.S. dollar, Canada dollar, Euro, GBP, BRL andJapanese Yen.(2) With respect to “cost reduction and effects of raw material cost fluctuations”, management has analyzed costreduction and effects of raw material cost fluctuations at the levels of the Company and its material foreignmanufacturing subsidiaries in North America, Europe and other regions.(3) With respect to “changes in net sales and model mix”, management has analyzed changes in sales volume and inthe mix of product models sold in major markets which have resulted in increases/decreases in profit, as well as certainother reasons for increases/decreases in net sales and cost of sales.(4) With respect to “selling, general and administrative expenses”, management has analyzed reasons for anincrease/decrease in selling, general and administrative expenses from the previous fiscal year net of currencytranslation effects.
  • 33. 33- 44.0- 3.9Currency effect associated withsales transaction+ 30.3+ 30.9Currency effect from translationof foreign financial statements(impact on operating income)- 13.6- 49.4+ 5.4- 20.2- 15.1- 1.3+ 42.1FY1312 MonthsAverage Rates (Yen)ChangeFY134QFY124QFY13 4QYen down by13 yen9380+ 29.3JPY / USDYen down by18 yen122104+ 2.4JPY / Euro―――+ 0.0JPY / Others―――- 5.3Transactions between othercurrencies+ 26.4Difference of average rates(Impact on Operating income)- 30.4Difference between transactionrates and average rates(Impact on Other income & expenses)+ 26.9Total*1*2*3-Currency Effects-(effects associated with sales transactions and translation effects)(Exhibit 1)*1:Impact of YOY difference of FOREX to be used forbooking revenue of foreign currency transactions*2:Impact of YOY difference between average FOREXand hedge rates during the period*3:Effect due to the difference of the rate used for translatingHonda’s overseas subsidiaries’ financial statementsdenominated in foreign currencies into Japanese yenwith the corresponding period of the fiscal yearYen(billion)
  • 34. 34+ 1.8+ 0.3+ 13.9- 12.4FY1212 Months- 35.00.0- 6.1- 28.8FY13- 36.8- 0.3- 20.1- 16.3Change- 25.50.0- 4.4- 21.0FY124Q- 5.00.0- 4.7- 0.3FY13+ 20.4+ 0.1- 0.3+ 20.6ChangeOtherTotalInterest rateswapCurrency swapForeigncurrencyForward- Unrealized Gains and Losses Related to Derivative Instruments - (Exhibit 2)Yen(billion)
  • 35. 35