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Honda Motor Co. Posts Financial Results for the Fiscal Third Quarter

February 5, 2014

Honda Motor Co. announced its consolidated financial results for the fiscal third quarter ended . In a release on January 31 , the Company noted that its consolidated net income attributable to Honda Motor Co. for the fiscal third quarter ended December 31, 2013 totaled JPY 160.7 billion ( USD 1,525 million ), an increase of 107.6 percent from the same period last year. Basic net income attributable to Honda Motor Co. per common share for the quarter amounted to JPY 89.18 ( USD 0.85 ), an increase of JPY 46.21 ( USD 0.44 ) from JPY 42.97 for the corresponding period last year. One Honda American Depository Share represents one common share. Consolidated net sales and other operating revenue (herein referred to as "revenue") for the quarter amounted to JPY 3,020.8 billion ( USD 28,664 million ), an increase of 24.5 percent from the same period last year, due primarily to increased revenue in automobile and motorcycle business operations, as well as favorable foreign currency translation effects. Consolidated operating income for the quarter amounted to JPY 228.5 billion ( USD 2,169 million ), an increase of 73.2 percent from the same period last year, due primarily to an increase in sales volume and model mix, continuing cost reduction efforts and favorable foreign currency effects, despite increased SG&A expenses. Consolidated income before income taxes and equity in income of affiliates for the quarter totaled JPY 216.6 billion ( USD 2,055 million ), an increase of 141.3 percent from the same period last year. Equity in income of affiliates amounted to JPY 31.6 billion ( USD 300 million ) for the quarter, an increase of 47.7 percent from the corresponding period last year. In automobile business operations, revenue increased 23.9 percent, to JPY 2,372.4 billion ( USD 22,512 million ) from the same period last year. Operating income totaled JPY 154.2 billion ( USD 1,464 million ), an increase of 117.5 percent from the same period last year. In motorcycle business operations, revenue increased 30.0 percent, to JPY 400.1 billion ( USD 3,797 million ) from the same period last year. Operating income totaled JPY 34.5 billion ( USD 328 million ), an increase of 51.4 percent from the same period last year. In financial services business operations, revenue increased 29.3 percent, to JPY 175.0 billion ( USD 1,661 million ) from the same period last year. Operating income increased 12.0 percent to JPY 42.7 billion ( USD 405 million ) from the same period last year. In power product and other businesses operations, revenue increased 9.1 percent, to JPY 73.2 billion ( USD 695 million ) from the same period last year. Honda reported an operating loss of JPY 2.8 billion ( USD 27 million ), a decrease of JPY 2.9 billion ( USD 28 million ) from the same period last year. The Board of Directors of Honda Motor Co. , at its meeting held on January 31 , resolved to make the quarterly dividend JPY 20 per share of common stock, the record date of which is December 31, 2013 . The year-end dividend and total annual dividend per share of common stock for the fiscal year ending March 31 , are expected to be JPY 20 and JPY 80 per share, respectively. More information: http://world.honda.com/investors/library/financialresult ((Comments on this story may be sent to newsdesk@closeupmedia.com ))


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Source: Travel & Leisure Close - Up


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