Income Statements

Consolidated Statements of Income

Yen(millions)	FY2008	FY2009	FY2010	FY2011	FY2012
Net sales and other operating revenue	12,002,834	10,011,241	8,579,174	8,936,867	7,948,095
Cost of sales	8,543,170	7,419,582	6,414,721	6,496,841	5,919,633
Selling, general and administrative	1,918,596	1,838,819	1,337,324	1,382,660	1,277,280
Research and development	587,959	563,197	463,354	487,591	519,818
Operating costs and expenses	11,049,725	9,821,598	8,215,399	8,367,092	7,716,731
Operating income	953,109	189,643	363,775	569,775	231,364
Other income (expenses)	-57,268	-27,909	-27,577	60,773	26,039
Income before income taxes and equity in income of affiliates	895,841	161,734	336,198	630,548	257,403
Income tax expense	387,436	109,835	146,869	206,827	135,735
Equity in income of affiliates	118,942	99,034	93,282	139,756	100,406
Net income attributable to noncontrolling interests	-27,308	-13,928	-14,211	-29,389	-10,592
Net income attributable to Honda Motor Co., Ltd.	600,039	137,005	268,400	534,088	211,482
Basic net income attributable to Honda Motor Co., Ltd per common share	¥330.54	¥75.50	¥147.91	¥295.67	¥117.34

	FY2008	FY2009	FY2010	FY2011	FY2012
Operating costs and experses as a percentage of Net Sales	71.2%	74.1%	74.8%	72.7%	74.5%
SG&A expenses as a percentage of Net Sales	16.0%	18.4%	15.6%	15.5%	16.1%
R&D expenses as a percentage of Net Sales	4.9%	5.6%	5.4%	5.5%	6.5%
Operating Margin	7.9%	1.9%	4.2%	6.4%	2.9%
Income before income taxes and equity in income of affiliates as a percentage of Net Sales	7.5%	1.6%	3.9%	7.1%	3.2%
Net income as a percentage of Net Sales	5.0%	1.4%	3.1%	6.0%	2.7%