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Annual Report 2007
Notes to Consolidated Financial Statements
Honda Motor Co., Ltd. and Subsidiaries

22. Subsequent Event

The Board of Directors, at its meeting held on May 15, 2007, resolved that the Company will purchase its own shares pursuant to Article 156 of the Company Law, which applies pursuant to Article 165, Paragraph 3, of that law. The main purpose for the acquisition are enhancing its capital efficiency and enabling greater flexibility in its capital policies.

(1) Type of shares and maximum number of shares to be acquired:
    Shares of Common Stock 10,000,000 shares
(2) Maximum amount of acquisition:
    38 billion yen
(3) Period of acquisition:
    Starting on May 16, 2007 and ending on June 12, 2007
(4) Method of acquisition:
    Purchase through ToSTNet-2 (as a closing-price transaction) over the Tokyo Stock Exchange

Total number and amount of shares the Company acquired during the period were 8,204,000 shares and ¥34,128,640,000.

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