TOKYO, Japan, June 14, 2011 – Honda Motor Co., Ltd. held an extraordinary board meeting and resolved the forecasts for consolidated financial results for the current fiscal year ending March 31, 2012, which were not available on April 28, 2011 when the company announced financial results for the previous fiscal year ended March 31, 2011.
Concerning automobile production which has been impacted due to the restricted supply of parts after the Great East Japan Earthquake, production in Japan is expected to be nearly normalized in late June and production in regions outside of Japan is expected to be nearly normalized in the August/September timeframe. Honda will strive to recover sales based on the recovery of production; however, global unit sales for automobile business is expected to be 3.3 million units due to the restricted supply of parts which will continue for a certain models/types.
Honda’s current forecasts for the consolidated financial results for the fiscal year ending March 31, 2012 are described below, with assumption of the average currency exchange rates of JPY 80 = USD 1 and JPY 110 = Euro 1.
Decline in operating income compared to the previous fiscal year is mainly because of a decline in automobile unit sales due to the impact of the earthquake, cost of restoration and/or removal of damaged property and equipment, the unfavorable currency effects, increased raw material costs and increased R&D expenses related to the development of next generation products and stepped up development of environmental technologies.
The total annual dividend to be paid for this fiscal year is expected to be 60 yen per share, an increase of 6 yen pershare compared to the previous fiscal year.
Mar. 31, 2011
Mar. 31, 2012
|Net sales and other operating revenue||8,936.8||8,300.0||-636.8||-7.1%|
|Operating income||569.7||200.0||-369.7||-64.9%||Income before
|630.5||215.0||-415.5||-65.9%||Equity in income
|Annual Dividends per share||54||60||+6||-|
|Honda's Average Rates (Yen)||USD =||86||80||Yen up by 6 yen|
|EUR =||114||110||Yen up by 4 yen|