TOKYO, Japan, July 29, 2014 - Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal first quarter ended June 30, 2014.
Consolidated operating income for the fiscal first quarter (April 1, 2014 through June 30, 2014) amounted to 198.0 billion yen, an increase of 7.1% compared to the same period last year, due to profit-increasing factors including an increase in automobile sales in Japan and Asia resulting from the positive effect of new model introductions and full model changes as well as the positive effect of cost reduction efforts. This was despite profit-reducing factors such as an increase in selling, general and administrative (SG&A) expenses, an increase in depreciation expenses related to the start-up of new production plants and unfavorable currency effects. Consolidated income before income taxes for the fiscal first quarter amounted to 198.8 billion yen, an increase of 15.6% compared to the same period last year. Consolidated net income*1 for the fiscal first quarter amounted to 146.5 billion yen, an increase of 19.6% compared to the same period last year.
Reflecting the changes in the foreign exchange environment that occurred during the fiscal first quarter, Honda made an upward revision to its forecast for consolidated operating income for the current fiscal year (April 1, 2014 through March 31, 2015) from the previous 760.0 billion yen to 770.0 billion yen. In addition, the forecast for consolidated net income*1 for the current fiscal year was also revised upward from the previous 595.0 billion yen to 600.0 billion yen.
The quarterly dividend for the fiscal first quarter will be 22 yen per share, a 2 yen increase compared to the quarterly dividend for the same period last year. The total cash dividend to be paid for the fiscal year ending March 31, 2015 is expected to be 88 yen per share, an increase of 6 yen per share from the previous fiscal year.