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TOKYO, Feb 7, 2020 - (JCN Newswire) - Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal third quarter ended December 31, 2019.
Consolidated sales revenue for the fiscal third quarter (October 1, 2019 through December 31, 2019) amounted to 3,747.5 billion yen, a decrease of 5.7% compared to the same period last year, due primarily to from financial services business and other factors. February 7, 2020 a decrease in sales revenue from automobile business as well as negative foreign currency translation effects. This was despite an increase in sales revenue
Consolidated operating profit for the fiscal third quarter amounted to 166.6 billion yen, a decrease of 2.1% compared to the same period last year, due primarily to a decrease in profit related to changes in sales revenue and model mix as well as negative currency effects. This was despite a decrease in selling, general and administrative (SG&A) expenses as well as continuing cost reduction.
Consolidated profit before income taxes for the fiscal third quarter amounted to 206.7 billion yen, a decrease of 8.9% compared to the same period last year. Consolidated profit for the fiscal third-quarter attributable to owners of the parent amounted to 116.4 billion yen, a decrease of 30.8% compared to the same period last year.
The previously announced forecast for consolidated operating profit for the current fiscal year (April 1, 2019 through March 31, 2020) was revised upward by 40.0 billion yen to 730.0 billion yen, a year-over-year increase, primarily to reflect an increase in unit sales in Japan, a decrease in SG&A expenses and foreign currency effects. Honda will continue to make steady progress in the improvement of profitability and strives to establish a business structure which generates profit more than that of the previous fiscal year.
The impact related to the spread of novel coronavirus infections is not reflected to the forecasts for the FY2020.
The quarterly dividend for the fiscal third quarter will be 28 yen per share, and total dividends to be paid for the fiscal year ending March 31, 2020 are expected to be 112 yen per share (an increase of 1 yen per share compared to the previous fiscal year).
For more information, visit https://bit.ly/2S3fbuu.
Topic: Press release summary
Source: Honda Motor Co, Ltd
Sectors: Automotive
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From the Asia Corporate News Network
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