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FINANCIAL
HIGHLIGHTS |

*Honda's common stock-to-ADR
exchange ratio was changed from two shares of common stock to one ADR, to one
share of common stock to two ADRs, effective January 10, 2002. Per American share
information has been restated for all periods presented to reflect this four-for-one
ADR split.
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OPERATING HIGHLIGHTS |

Throughout this report, the
United States dollar amounts have been translated from Japanese yen solely
for the convenience of the reader at the rate of ¥133.25=US$1, the mean of the
telegraphic transfer selling exchange rate and the telegraphic transfer buying
exchange rate prevailing on the Tokyo Foreign Exchange Market on March 29, 2002.
The geographic breakdown is based on the location of affiliated and unaffiliated customers.
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