TOKYO, Japan, January 31, 2012 - Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal third quarter ended December 31, 2011.
Despite the enormous impact of the flooding in Thailand to the company’s business and the unfavorable currency effects due to the appreciation of the Japanese yen, consolidated operating income for the fiscal third quarter (October 1, 2011 through December 31, 2011) amounted to 44.2 billion yen, due mostly to the recovery of automobile sales in major markets, the contribution of steady motorcycle business in emerging markets, and companywide efforts. Furthermore, net income*1 amounted to 47.6 billion yen despite the impact of tax revisions on the company’s deferred tax assets.
As per the previously announced forecast, the quarterly dividend for the fiscal third quarter will be 15 yen per share of common stock with the record date of December 31, 2011. Despite the negative impact of the Great East Japan Earthquake, the flooding in Thailand, and the appreciation of the Japanese yen, the total annual dividend per share of common stock to be paid for this fiscal year (ending March 31, 2012) is also expected to remain 60 yen as per the previously announced forecast.
With companywide efforts to minimize the negative impacts of the decline in worldwide automobile production because of the Great East Japan Earthquake and the flooding in Thailand, and the historic appreciation of the Japanese yen, Honda made a revision to the forecasts for the consolidated financial results for this fiscal year as follows with:
These forecasts are based on the assumption of worldwide automobile sales of 3.15 million units and the average currency exchange rates of 77 yen = USD 1 and 97 yen = Euro 1 for the fiscal fourth quarter and 78 yen = USD 1 and 106 yen = Euro1 for the fiscal year.