12 09-12 honda results-q2-1

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12 09-12 honda results-q2-1

  1. 1. Insight FY13 2nd Quarter Financial Results Honda Motor Co., Ltd. Accord EX-L V-6 October 29, 2012 (U.S. specification model) 1
  2. 2. FY13 2nd Quarter Financial Results & FY13 Financial ForecastsFumihiko Ike Senior Managing Officer and Director Chief Financial Officer - FY13 2nd Quarter Consolidated Financial Results - FY13 Financial Forecasts - DividendKohei TakeuchiOperating Officer, General Manager of Accounting Division - FY13 2nd Quarter Consolidated Financial Results Net Sales and Other Operating Revenue Change in Income before Income Taxes Business Segment Information Geographical Information Change in Equity in Income of Affiliates Consolidated Capital Expenditures - FY 13 Financial Forecasts 2
  3. 3. FY13 2nd Quarter Financial Results & FY13 Financial ForecastsFumihiko Ike Senior Managing Officer and Director Chief Financial Officer - FY13 2nd Quarter Consolidated Financial Results - FY13 Financial Forecasts - DividendKohei TakeuchiOperating Officer, General Manager of Accounting Division - FY13 2nd Quarter Consolidated Financial Results Net Sales and Other Operating Revenue Change in Income before Income Taxes Business Segment Information Geographical Information Change in Equity in Income of Affiliates Consolidated Capital Expenditures - FY13 Financial Forecasts 3
  4. 4. Outline of FY13 2nd Quarter Financial Results (Consolidated) Honda Group Unit Sales 2Q Results (Three Months) Financial Summary (Consolidated Unit Sales) FY12 FY13 Change Since the earthquake, a recovery led by N.A. and (thousand) Japan along with new model offerings led to an 3,811 3,879 + 1.8% Motorcycles increase in auto sales; India led an increase in (2,187) (2,377) (+ 8.7%) motorcycle sales. 678 996 + 46.9% Automobiles Operating Income rose 92.1% to 100.8 billion (571) (816) (+ 42.9%) compared to the same period last year. 1,276 1,288 + 0.9% Power Products (1,276) (1,288) (+ 0.9%) Financial Highlights 2Q Results (Three Months) Honda Group Unit Sales Financial Motorcycle: results FY12 FY13 Change Increased in Asia Yen (billion) Net sales & other Automobiles: operating revenue 1,885.8 2,271.2 + 20.4% Increased in all regions Operating income 52.5 100.8 + 92.1% Power Products: Increased in Asia and “Other regions” Income before income taxes 76.5 106.2 + 38.8% Net Sales and Operating Revenue -Recovery from the earthquake and new model Equity in income of affiliates 15.5 27.4 + 76.7% introductions led to an increase for automobile business operations Net income attributable to Honda Motor Co., Ltd. 60.4 82.2 + 36.1% -Currency fluctuations had a negative impact Operating Income EPS attributable to Honda Motor Co., Ltd. 33.53 45.63 + 12.10 【Positive Factors】 (Yen) - Positive change in sales volume and model mixNote : Shares which are based approx. approx. - Cost reduction efforts on calculation of EPS 1,802,300,000 shares 1,802,299,000 shares (weighted average number (weighted average number 【Negative Factors】 of shares outstanding ) of shares outstanding )Average Rates (Yen) - Increased SG&A expenses Yen down - Increase in R&D expenses US Dollar 78 79 by 1 yen - Currency fluctuation impact Euro 109 98 Yen up by 4 11 yen
  5. 5. Outline of FY13 1st Half Financial Results (Consolidated) 2Q Results (Three Months) 1H Results (Six Months) Honda Group Unit Sales (Consolidated Unit Sales) FY12 FY13 Change FY12 FY13 Change (thousand) 3,811 3,879 + 1.8% 7,288 7,790 + 6.9% Motorcycles (4,743) (+ 14.7%) (2,187) (2,377) (+ 8.7%) (4,136) 678 996 + 46.9% 1,303 1,995 + 53.1% Automobiles (1,665) (+ 61.8%) (571) (816) (+ 42.9%) (1,029) 1,276 1,288 + 0.9% 2,788 2,913 + 4.5% Power Products (1,276) (1,288) (+ 0.9%) (2,788) (2,913) (+ 4.5%) Financial 2Q Results (Three Months) 1H Results (Six Months) results FY12 FY13 Change FY12 FY13 Change Yen (billion) Net sales & other operating revenue 1,885.8 2,271.2 + 20.4% 3,600.4 4,707.1 + 30.7% Operating income 52.5 100.8 + 92.1% 75.0 276.8 + 268.7% Income before income taxes 76.5 106.2 + 38.8% 105.8 301.0 + 184.4% Equity in income of affiliates 15.5 27.4 + 76.7% 44.2 48.2 + 9.1% Net income attributable to Honda Motor Co., Ltd. 60.4 82.2 + 36.1% 92.2 213.9 + 132.0% EPS attributable to Honda Motor Co., Ltd. 33.53 45.63 + 12.10 51.17 118.71 + 67.54 (Yen)Note : Shares which are based approx. approx. approx. approx. on calculation of EPS 1,802,300,000 shares 1,802,299,000 shares 1,802,301,000 shares 1,802,299,000 shares (weighted average number (weighted average number (weighted average number (weighted average number of shares outstanding ) of shares outstanding ) of shares outstanding ) of shares outstanding )Average Rates (Yen) Yen down US Dollar 78 79 by 1 yen 79 79 - Yen up by Yen up by Euro 109 98 11 yen 113 101 12 yen 5
  6. 6. FY13 Financial Forecasts (Consolidated) Yen (billion) Change Change from FY12 FY13 previous forecasts Results Forecasts amount %Net sales & otheroperating revenue 7,948.0 9,800.0 + 1,851.9 + 23.3% - 500.0Operating income 231.3 520.0 + 288.6 + 124.8% - 100.0Income beforeincome taxes 257.4 540.0 + 282.5 + 109.8% - 95.0Equity in income of affiliates 100.4 80.0 - 20.4 - 20.3% - 40.0Net income attributable toHonda Motor Co., Ltd. 211.4 375.0 + 163.5 + 77.3% - 95.0EPS attributable toHonda Motor Co., Ltd. (Yen) 117.34 208.07 + 90.73 Note : Shares which are based approx. approx. on calculation of EPS 1,802,300,000 shares 1,802,299,128 shares (weighted average number (weighted average number of shares outstanding ) of shares outstanding )Average Rates (Yen)US Dollar 79 80 Yen down by 1 yen - (1H 79 / 2H 80)Euro 108 103 Yen up by 5 yen Yen up by (1H 101 / 2H 105) 2 yen 6
  7. 7. FY12 Financial Results and FY13 Financial Forecasts (Unconsolidated) Yen (billion) Change Change from FY12 FY13 previous forecasts Results Forecasts amount %Net sales 2,740.0 3,200.0 + 459.9 + 16.8% - 120.0Operating income - 136.7 50.0 + 186.7 - -(loss)Ordinary income 40.3 190.0 + 149.6 + 370.4% -Net income 46.2 140.0 + 93.7 + 202.5% -Average Rates (Yen) US Dollar 79 80 Yen down by 1 yen - (1H 79 / 2H 80) 103 Yen up by Euro 108 Yen up by 5 yen (1H 101 / 2H 105) 2 yen
  8. 8. Dividend (Yen)Dividend per share FY12 FY13 Results Results & Projection Increase / Decrease from FY12 1st quarter End 15 19 +4 2nd quarter End 15 19 +4 3rd quarter End 15 ( 19 ) (+4) 4th quarter End 15 ( 19 ) (+4) Fiscal Year 60 ( 76 ) ( + 16 ) 8
  9. 9. FY13 2nd Quarter Financial Results & FY13 Financial ForecastsFumihiko Ike Senior Managing Officer and Director Chief Financial Officer - FY13 2nd Quarter Consolidated Financial Results - FY13 Financial Forecasts - DividendKohei TakeuchiOperating Officer, General Manager of Accounting Division - FY13 2nd Quarter Consolidated Financial Results Net Sales and Other Operating Revenue Change in Income before Income Taxes Business Segment Information Geographical Information Change in Equity in Income of Affiliates Consolidated Capital Expenditures - FY13 Financial Forecasts 9
  10. 10. Net Sales and Other Operating Revenue 2nd Quarter (Three months) Yen (billion) + 385.3 ( + 20.4 %) 2Q Net Sales by Business Segment FY12 FY13 Excluding currency translation effects; + 456.3 ( + 24.2 %) Motorcycle Business 357.3 309.7 + 464.6 + 2.9 - 2.4 Automobile Business 1,333.0 1,766.2 ( + 34.9 %) ( + 2.3 %) ( - 3.5 %) - 70.9 Financial Services 2,271.2 Business 126.4 130.4 Financial Services Power Product & Currency Effects Power Product & Business 69.0 64.9 Other Businesses Other Businesses - 8.7 Total 1,885.8 2,271.2 1,885.8 ( - 2.5 %) Market average rates Motorcycle Automobile Business Business US Dollar 78 79 Euro 110 98 FY12 2Q FY13 2Q Six Months Yen (billion) + 1,106.7 ( + 30.7 %) Six months Net Sales by Excluding currency translation effects; + 1,265.4 (+ 35.1 %) Business Segment FY12 FY13 Motorcycle Business 687.6 656.3 + 1,232.1 + 0.8 - 3.5 Automobile Business 2,509.9 3,656.7 ( + 49.1 %) ( + 0.3 %) ( - 2.5 %) - 158.7 4,707.1 Financial Services Financial Services Power Product Business 262.3 261.6 & Currency Effects + 35.9 Business Other Businesses Power Product & ( + 5.2 %) Other Businesses 140.5 132.4 3,600.4 Motorcycle Automobile Total 3,600.4 4,707.1 Business Business Market average rates US Dollar 80 79 FY12 FY13 Euro 114 101Six Months Six Months 10
  11. 11. Change in Income before Income Taxes <FY13 2nd Quarter> Yen (billion) Income before Income taxes + 29.7 ( + 38.8% ) Other Income Operating Income + 48.3 ( + 92.1% ) & Expenses + 43.6 - 38.5 - 18.6 - 12.4 + 70.1 Cost Reduction, etc. Increase in SG&A - 14.4 Increase in R&D - 20.4 Currency Effects + 1.7 106.2 Unrealized gains and Others losses related to derivative instruments 76.5 (Exhibit 2) Revenue, model mix, <Decrease Factors> etc. - Increased sales promotion and advertisement expenses, - Increased quality-related expenses, etc.. <Increase Factors> - Decreased fixed cost per unit due to increased production - Cost reduction effort, etc.Operating Operating Income - Currency effect due to difference between average sales rates Income <Increase Factors> 52.5 -Increase in unit sales and model mix, etc. and transaction rates: - 0.8 100.8 - Others + 2.6 <Decrease Factors> 11FY12 2Q - Increased sales incentives, etc. FY13 2Q *Please refer to Exhibit 1 regarding currency effects
  12. 12. Change in Income before Income Taxes <FY13 1st Half > Yen (billion) Income before Income taxes + 195.1 ( + 184.4% ) Other Income Operating Income + 201.7 ( + 268.7% ) & Expenses + 119.2 - 99.5 - 6.6 - 28.2 + 244.4 - 34.2 Increase in SG&A Cost Reduction, etc. Increase in R&D - 1.6 - 4.9 301.0 Currency Effects Unrealized gains and Others losses related to derivative instruments (Exhibit 2) <Decrease Factors> - Increased sales promotion and advertisement expenses, - Increased quality-related expenses, etc.. 105.8 Revenue, model mix, etc. <Increase Factors> - Decreased fixed cost per unit due to increased production - Cost reduction effort, etc.Operating Operating Income Income - Currency effect due to difference between average sales rates <Increase Factors> 75.0 -Increase in unit sales and model mix, etc. and transaction rates: - 10.2 276.8 - Others + 5.2 <Decrease Factors>FY12 1H -Increased sales incentives, etc. FY13 1H *Please refer to Exhibit 1 regarding currency effects 12
  13. 13. Motorcycle Honda Group Unit Sales (Motorcycles + All-Terrain Vehicles, etc.) Unit Change from FY13 2Q Major increase / decrease factors (thousand) FY12 2Q - Positive impact of NC700X model introduction Japan 57 -6 - Decreased sales of DIO110, Super Cub 50/110 Pro, CBR250R , others - U.S: Positive impact of NC700X, CRF250L, Metropolitan model introductions North America 60 +7 - U.S. Decreased sales of Four Trax Rancher (ATV), Gold Wing, others 10,000 - Mexico: Increased sales of CGL125, positive impact of new GL150, Dio110 Dream Yuga (India) - Increased sales due to launch of VFR1200X, New Mid Concept series,Vision50 Europe 38 -9 - Market decline in Italy; decreased sales of late in model cycle SH125,SH150 + 502 9,000 - India: Positive impact of Dream Yuga launch; increased Activa, CB Shine sales ( + 6.9% ) Unit Asia 3,235 + 133 - Thailand: Increased sales of Click125i and PCX150 models(thousand) Other 8,000 Regions 489 - 57 - Brazil: Decreased sales of CG125 FAN, CG150 FAN, CG150 TITAN models 7,790 7,288 Total 3,879 + 68 937 7,000 985 + 68 6,000 ( + 1.8% ) 5,000 4,164 4,000 3,811 3,911 3,879 3,477 3,609 550 448 489 Other 6,520 546 Regions 5,980 439 496 3,000 2,000 3,449 3,285 3,235 Asia 2,983 3,102 2,878 1,000 Europe 62 47 31 58 60 38 North 109 98 46 53 48 53 59 60 America 99 119 52 63 51 54 59 57 Japan 115 116 0 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 13
  14. 14. Motorcycle Business Unit Sales/Net Sales/Operating Income (Margin) FY12 FY13 FY12 FY13 1Q 2Q 3Q 4Q 1Q 2Q 1H 1HHonda Group Unit Sales 3,477 3,811 3,609 4,164 3,911 3,879 7,288 7,790 Unit (thousand)(Consolidated Unit Sales) (1,949) (2,187) (2,031) (2,483) (2,366) (2,377) (4,136) (4,743) Net Yen Sales 330.3 357.3 302.5 358.5 346.6 309.7 687.6 656.3 (billion) ( - 4.6% ) ( - 13.3 % ) Currency Effect - 67.3 Yen Currency Effect - 38.8 (Revenue from sales to(billion) (Revenue from sales to external customers) Operating Margin external customers) Operating Income 150 15% 13.6% 130 12.2% 10.9% 10.6% 110 11% 9.5% 9.2% 8.5% 90 8.2% <Increase Factors> ( - 25.8% ) 70 -Decreased SG&A expenses, etc 83.8 7% <Decrease Factors> 50 -Decreased sale of parts for overseas production, -Negative currency effect, etc ( - 34.8%) 62.2 30 44.9 3% 38.9 36.8 32.8 25.8 25.4 10 -10 -1% 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 14
  15. 15. Automobile Honda Group Unit Sales Unit Change from FY13 2Q Major increase / decrease factors (thousand) FY12 2Q - Positive impact of N-BOX, N-BOX+ model introductions Japan 169 + 36 - Increased sales of STEP WGN North - Increased sales of ACCORD, CIVIC and CR-V America 404 + 135 - Increased sales of MDX, positive impact of fully remodeled RDX launch2,500 CR-V (North America) - Germany: increased sales of CR-V Europe 44 +4 - U.K.: Increased sales of JAZZ + 692 - ASEAN: Increased sales of CITY, CIVIC, BRIO and FREED Asia 301 + 111 - China: Increased sales of CR-V; positive impact of CROSSTOUR 2.4L, ( + 53.1% ) ELYSION model introductions Other2,000 Regions 78 + 32 - Increased sales in Brazil and Australia 1,995 141 Total 996 + 318 Unit(thousand) + 318 5631,500 ( + 46.9% ) 1,303 103 83 1,022 999 9961,000 51 Other 406 63 78 Regions 783 236 262 854 678 48 301 Asia 75 625 46 45 39 195 57 44 Europe 500 190 38 216 463 494 40 450 35 404 366 269 North 225 America 354 227 Japan 225 185 169 92 133 136 0 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 15
  16. 16. Automobile Business Unit Sales/Net Sales/Operating Income (Margin) FY12 FY13 FY12 FY13 1Q 2Q 3Q 4Q 1Q 2Q 1H 1HHonda Group Unit Sales 625 678 783 1,022 999 996 1,303 1,995 Unit (thousand)(Consolidated Unit Sales) (458) (571) (622) (831) (849) (816) (1,029) (1,665) Net Yen Sales 1,178.8 1,337.1 1,455.6 1,851.1 1,894.7 1,769.7 2,515.9 3,664.5 (billions) ( + 32.4% ) ( + 45.7% ) Yen Currency Effect - 31.4 Currency Effect - 85.4 (Revenue from sales to (Revenue from sales to external(billions) external customers) customers) 250 15% Operating Margin <Increase Factors> -Changes in unit sales and model mix, Operating Income -Cost reduction, etc 12% <Decrease Factors> -Increased SG&A expenses, 150 -Increased R&D expenses, 9% -Negative currency effect, etc 5.3% 137.7 6% 3.8% 2.4% 50 100.6 2.1% 3% - 16.9 45.1 37.1 0% - 29.1 - 76.2 - 1.2% - 105.3 -50 -3% - 2.2% - 4.2% -6% - 6.5% -150 -9% 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 16
  17. 17. Power Products Honda Group Unit Sales Unit Change from FY13 2Q Major increase / decrease factors (thousand) FY12 2Q - Decreased sales of GX160 and GX200 engines to generator producing OEMs Japan 88 - 27 due to drop in exports - Decrease in GX25, GX35, GXV160 domestic OEM sales from drop in exports to Europe North - Increased sales of HRR216 VKAA lawnmowers due to expansion of dlr. network America 436 -1 - Decrease in generator sales in response to spike in demand last year4,000 WB20 (Water Pump) - Decrease in sale of GX160, GX270 and GX390 OEM engines due to Europe 150 - 50 construction slump in southern Europe and subsequent drop in demand for compact building tools, generators, etc. + 125 - Increased sales of Thai made GX25 and GX35 engines for agricultural uses ( + 4.5% )3,500 Asia 462 + 72 - Increased sales ofGX160 engine, WB20 and WB30 pumps due to expansion of Unit sales network in Indonesia(thousand) Other - Increase in pump, OEM engine sales to construction tool market in Saudi Arabia Regions 152 + 18 - Deceased sales of EU20 generators in Australia due to slump in leisure industry3,000 Total 1,288 + 12 2,913 2,788 280 2432,500 + 12 ( + 0.9% ) 2,010 883 7892,000 143 394 1,625 1,512 128 3861,500 109 1,276 1,288 507 414 421 Other 399 134 152 1,021 Regions1,000 236 390 134 Asia 307 462 289 1,014 1,194 200 970 150 Europe 500 577 200 758 North 437 436 America 330 120 115 68 89 82 88 Japan 235 170 0 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 17
  18. 18. Power Product & Other Businesses Unit Sales/Net Sales/Operating Income (Margin) FY12 FY13 FY12 FY13 1Q 2Q 3Q 4Q 1Q 2Q 1H 1HHonda Group Unit Sales 1,512 1,276 1,021 2,010 1,625 1,288 2,788 2,913 Unit (thousand)(Consolidated Unit Sales) (1,512) (1,276) (1,021) (2,010) (1,625) (1,288) (2,788) (2,913) Net Yen Sales 73.9 72.1 68.0 75.6 69.9 67.2 146.0 137.2 (billions) ( - 6.7% ) ( - 6.0% ) Yen (billions) Currency Effect - 1.6 Currency Effect - 4.5 Operating Margin (Revenue from sales to 5 (Revenue from sales to external customers) 5% external customers) Operating Income <Increase Factors> -Changes in unit sales and model mix in power product business, etc 3 3% <Decrease Factors> -Increased SG&A expenses, -negative currency impact, etc 1 1% 0.2 - 0.1 0.05 0.1 0.4% 0.1% 0.1% -1 - 0.2% - 2.2 -1% - 2.1 - 2.0 - 2.2 - 1.6% -3 -3% - 2.7% - 3.2% - 3.3% -5 -5% 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 18
  19. 19. Financial Services Business Total Assets/Net Sales/Operating Income (Margin) FY12 FY13 FY12 FY13 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H Total Assets of Finance Subsidiaries 5,445.7 5,169.2 5,290.5 5,644.3 5,567.6 5,577.7 Yen Net (billions) Sales 138.6 129.1 127.5 131.2 134.0 133.1 267.7 267.1 ( + 3.1%) ( - 0.2%) Currency Effect + 0.9 Currency Effect - 1.4 (Revenue from sales to (Revenue from sales to Yen external customers) external customers)(billions) 200 Operating Margin 50% Operating Income 180 38.7% 160 40% 36.0% 140 33.2% 29.5% 29.6% 30.5% 120 27.4% 28.7% 30% ( - 18.0%) 100 80 <Decrease Factors> 96.4 20% -Decrease in residual gain of off-lease vehicle sales etc. 60 ( - 10.6% ) 79.1 40 10% 53.6 20 42.8 40.8 38.2 37.5 35.9 0 0% 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 19
  20. 20. Japan Net Sales/Operating Income (Margin) FY12 FY13 FY12 FY13 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H Net Yen Sales 625.3 805.3 863.1 1,069.0 1,006.6 925.0 1,430.7 1,931.7 (billions) ( + 14.9% ) ( + 35.0% ) Operating Income Yen(billions) Operating Margin (%) <Increase Factors> -Changes in revenue and model mix, etc. <Decrease Factors> -Increased R&D expenses, etc. ( 4.7 % ) 90 91.0 60.9 40 ( 3.2 % ) 12.5 30.0 ( - 4.4 % ) ( - 5.7 % ) -10 - 45.8 - 35.3 - 41.2 - 81.2 -60-110 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 20
  21. 21. North America Net Sales/Operating Income (Margin) FY12 FY13 FY12 FY13 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H Net Yen Sales 733.9 794.1 986.2 1,200.3 1,214.7 1,054.7 1,528.0 2,269.4 (billions) ( + 32.8 % ) ( + 48.5 % ) Yen(billions) Operating Income Operating Margin (%) 150 <Increase Factors> -Changes in revenue and model mix, etc. <Decrease Factors> ( + 64.6 % ) -Increased SG&A expenses, etc. ( 4.8 % ) 100 ( - 43.9 % ) 108.9 82.2 82.2 ( 4.3 % ) 74.8 66.2 50 ( 6.0 % ) 47.7 ( 2.5 % ) 26.7 18.5 0 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 21
  22. 22. Europe Net Sales/Operating Income (Margin) FY12 FY13 FY12 FY13 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H Yen Net Sales 150.9 144.5 119.4 165.8 147.8 144.5 295.4 292.4 (billions) ( 0.0% ) ( - 1.0% ) Operating Income Operating Margin (%) <Increase Factors> -Changes in revenue and model mix, etc. Yen <Decrease Factors>(billions) -Increased SG&A expenses, -Negative currency impact, etc. 10 5 1.8 ( - 2.8 % ) ( - 6.0 % ) ( - 3.4 % ) ( - 5.6 % ) 0 - 4.0 - 3.8 -5 - 6.1 - 7.6 - 10.1 - 8.7 -10 -15 - 16.3 -20 -25 -30 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 22
  23. 23. Asia Net Sales/Operating Income (Margin) FY12 FY13 FY12 FY13 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H Yen Net (billions) Sales 373.4 407.7 317.6 391.5 512.8 539.4 781.2 1,052.2 ( + 32.3% ) ( + 34.7% ) Yen Operating Income(billions) Operating Margin (%) 100 <Increase Factors> -Changes in revenue and model mix etc <Decrease Factors> -Negative currency impact etc 80 ( + 45.1% ) ( 6.5 % ) ( + 66.5% ) 60 68.1 ( 6.0 % ) 40 ( 6.7 % ) 46.9 36.4 ( 5.4 % ) 31.7 20 25.1 21.8 16.5 13.3 0 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 23
  24. 24. Other Regions Net Sales/Operating Income (Margin) FY12 FY13 FY12 FY13 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H Yen Net Sales 229.9 244.3 206.1 212.6 220.3 229.6 474.3 450.0 (billions) ( - 6.0% ) ( - 5.1% ) Yen Operating Income(billions) 60 Operating Margin (%) <Increase Factors> -Changes in revenue and model mix, etc <Decrease Factors> 50 -Increased SG&A expenses, -Negative currency impact, etc ( - 41.2% ) 40 ( 8.2 % ) ( - 54.3% ) 38.8 30 ( 9.4 % ) ( 5.1 % ) 20 23.0 22.8 15.7 ( 4.6 % ) 10 12.5 12.2 10.5 5.6 0 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 24
  25. 25. Change in Equity in income of affiliates Total Asia Yen(billions) 11.9 4.0 ( + 76.7 % ) ( + 9.1 % )60 48.2 44.2 44.2 46.240 33.2 28.6 29.3 27.4 25.3 22.9 22.1 21.5 20.7 20.820 15.5 14.8 0 1Q 2Q 3Q 4Q 1Q 2Q 1H 1H FY12 FY13 FY12 FY13 25
  26. 26. Consolidated Capital Expenditures <FY13 1H> + 118.5 ( + 89.7 % ) Yen (billions) Excluding currency translation effects + 125.5 ( + 95.0 % ) +117.9 + 0 + 2.9 - 7.0 250.7 Financial Power product Currency Services & Translation Business Other Businesses Effects 132.1 + 4.5 Motorcycle Automobile Business Business FY12 1H ※ Capital expenditures in results aforementioned exclude FY13 1HMarket average rates investment in operating leases and intangible assets Market average rates US$ 1= JPY 80 US$ 1= JPY 79 (Yen up by 1 yen) Euro 1= JPY 114 Euro 1 = JPY 101 (Yen up by 13 yen) Yen (billions) Yen (billions) Motorcycle Motorcycle Business 24.8 Business 26.6 Automobile Automobile Business 103.0 Business 217.1 Financial Services Financial Services Business 0.1 Business 0.1 Power Product & Other Power Product & Other Businesses 4.1 Businesses 6.7 Total 132.1 Total 250.7 26
  27. 27. FY13 2nd Quarter Financial Results & FY13 Financial ForecastsFumihiko Ike Senior Managing Officer and Director Chief Financial Officer - FY13 2nd Quarter Consolidated Financial Results - FY13 Financial Forecasts - DividendKohei TakeuchiOperating Officer, General Manager of Accounting Division - FY13 2nd Quarter Consolidated Financial Results Net Sales and Other Operating Revenue Change in Income before Income Taxes Business Segment Information Geographical Information Change in Equity in Income of Affiliates Consolidated Capital Expenditures - FY13 Financial Forecasts 27
  28. 28. Forecast: Honda Group Unit Sales Motorcycles Automobiles Power Products Unit - 1,040 - 180 - 80(thousand) ( - 4.2 % ) ( - 1.3 % ) ( - 6.3 % )20,000 5,000 8,000 4,300 16,600 4,120 15,560 4,000 310 6,300 6,220 15,061 31015,000 2,080 6,000 5,819 605 550 Other 1,840 Regions 2,031 520 3,108 1,310 1,155 3,000 202 Asia 1,670 1,670 1,472 230 20510,000 837 4,000 13,820 1,150 1,045 Europe 13,055 2,000 1,121 12,412 158 1,740 1,740 5,000 1,323 2,000 North 1,000 2,314 2,520 2,630 America 198 210 180 710 710 200 255 255 588 220 235 230 392 355 325 Japan 0 0 0 FY12 FY13 FY13 FY12 FY13 FY13 FY12 FY13 FY13 Previous Revised Previous Revised Previous Revised Forecasts Forecasts Forecasts Forecasts Forecasts Forecasts 28
  29. 29. Forecast: Consolidated Unit Sales Motorcycles Automobiles Power Products Unit - 280 - 50 - 80(thousand) ( - 2.8 % ) ( - 1.4 % ) 8,000 ( - 1.3 % ) 12,000 4,000 3,540 3,490 7,000 3,500 9,900 310 310 9,620 6,300 6,220 6,000 5,819 605 Other 9,000 8,650 2,080 1,840 3,000 560 535 550 Regions 520 2,031 2,482 205 5,000 2,500 230 1,472 1,670 1,670 Asia 202 219 6,000 2,000 158 4,000 1,150 1,045 Europe 1,740 1,740 1,121 7,120 7,115 1,500 3,000 6,001 1,323 3,000 1,000 2,000 2,520 2,630 North 2,314 America 500 1,000 198 210 180 580 700 700 200 255 255 Japan 220 235 230 392 355 325 0 0 0 FY12 FY13 FY13 FY12 FY13 FY13 FY12 FY13 FY13 Previous Revised Previous Revised Previous Revised Forecasts Forecasts Forecasts Forecasts Forecasts Forecasts 29
  30. 30. FY13 Financial Forecasts (Consolidated) Yen (billion) Change Change from FY12 FY13 previous forecasts Results Forecasts amount % as of Apr. 27Net sales & otheroperating revenue 7,948.0 9,800.0 + 1,851.9 + 23.3% - 500.0Operating income 231.3 520.0 + 288.6 + 124.8% - 100.0Income beforeincome taxes 257.4 540.0 + 282.5 + 109.8% - 95.0Equity in income of affiliates 100.4 80.0 - 20.4 - 20.3% - 40.0Net income attributable toHonda Motor Co., Ltd. 211.4 375.0 + 163.5 + 77.3% - 95.0EPS attributable toHonda Motor Co., Ltd. (Yen) 117.34 208.07 + 90.73 Note : Shares which are based approx. approx. on calculation of EPS 1,802,300,000 shares 1,802,299,128 shares (weighted average number (weighted average number of shares outstanding ) of shares outstanding )Average Rates (Yen)US Dollar 79 80 Yen down by 1 yen - (1H 79 / 2H 80) 103 Yen up byEuro 108 (1H 101 / 2H 105) Yen up by 5 yen 2 yen 30
  31. 31. Forecast: Change in Income before Income Taxes Yen (billions) Income before Income taxes + 282.5 ( + 109.8 % ) Other Income Operating Income + 288.6 ( + 124.8 % ) & Expenses - 6.0 * * + 167.0 - 181.0 + 382.8 * - 35.2 Cost Reduction, - 45.0 increase + 9.0 - 15.0 540.0 etc. in SG&A Increase in R&D Currency Effect Unrealized gains Others and losses related to derivative instruments257.4 Revenue, model mix, etc. * The impact of the change in depreciation method which is anticipated to cause a decrease in depreciation expense by approximately JPY 40.0 billion in total, is included.Operating Operating Income Income 231.3 520.0FY12 FY13 Revised Forecasts 31

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