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Consolidated Financial Summary for the Fiscal Year Ended March 31, 2005
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Date: April 27, 2005 10:42
Submitted by:
danielgr
Source:
Honda Press
Credibility Rating:
N/A
Amidst an environment of severe competition,
record sales realized in each business area; record net sales
and other operating revenue for 5 consecutive fiscal years and
record net income for 4 consecutive fiscal years.
Honda realized an all-time record for consolidated net
sales and other operating revenue for the fiscal year due to
increased sales in each business area. Operating income
increased due to increased profit from higher revenue and cost
reduction effects despite the negative effect from
depreciation of the U.S. dollar, as well as an increase in
selling, general and administrative (SG&A) expenses. Net
income set an all-time record due in part to a large increase
in equity in income of affiliates.Basic net income per common
share also reached an all-time high.
The year-end
dividend per common share rose by JPY 14 to JPY 37. Combined
with the interim dividend of JPY 28, the total dividend to be
paid for the entire fiscal year is JPY 65, an increase of JPY
23 compared to the previous fiscal year.
Results for Fiscal Year Ended March 31, 2005
(Honda’s average rates: JPY 108 = U.S.
dollar 1 JPY 135 = Euro 1)
(*record high) |
Yen ( billions
) |
|
Year ended March 31, 2004 |
Year ended March 31, 2005 |
Difference (% change) |
Net sales and other
operating revenue |
8,162.6 |
8,650.1* |
+
487.5 (+ 6.0) |
Operating income |
600.1 |
630.9 |
+
30.7 (+ 5.1) |
Income before income taxes |
641.9 |
656.8* |
+
14.8 (+ 2.3) |
Equity in income of
affiliates |
75.1 |
96.0* |
+
20.9 (+27.8) |
Net income |
464.3 |
486.1* |
+
21.8 (+ 4.7) |
Basic net income
per Common share |
JPY 486.91 |
JPY 520.68* |
+ 33.77 (+ 6.9) |
* Record unit sales for motorcycles, automobiles and
power products (Totals include fully finished products made by
Honda and its subsidiaries as well as unit sales of parts for
local production at
affiliates.)
Motorcycles:
Approx. 10.482 million units (+13.9%); mainly due to an
increase in sales in Asia led by Indonesia and India. (This
does not include the approximately 1 million motorcycles with
local procurement rates of 100% which are produced and sold by
affiliates in China and India.)
Automobiles:
Approx. 3.242 million units (+8.7%); the increase was
mainly due to an increase in sales in China, Indonesia and
other parts of Asia as well as Europe and North
America.
Power Products: Approx. 5.30
million units (+5.0%); the increase was due primarily to
increased sales in North America and Asia.
* |
Consolidated net sales and other operating
revenue rose to a record of JPY 8,650.1 billion (+6.0%)
due to an increase in overseas sales notwithstanding a
negative impact from currency translation effects. (If
the exchange rate from the previous fiscal year was
applied, Honda estimates that an increase in revenue of
approximately 8.8% would have been
realized.
|
* |
Operating income increased to JPY 630.9
billion (+5.1%) due to increased profit from increased
revenues and cost reduction effects, notwithstanding
negative currency effects of JPY -94.6 billion, and an
increase in SG&A expenses.
|
* |
Net income increased to a record JPY 486.1 billion
(+4.7%) partly due to a large increase in equity in
income of affiliates of JPY 20.9 billion (+27.8%).
|
* |
Net sales and other operating revenue for the 4th
quarter of the fiscal year was JPY 2,349.5 billion
(+9.5%), an all-time record for any quarter. Operating
income for the period was JPY 140.3 billion (+24.3%),
income before income taxes was JPY 129.1 billion (+21.3
%), equity in income of affiliates was JPY 19.5 billion
(+38.1%), and net income totaled JPY 94.0 billion
(+26.9%). The basic net income per common share
increased to JPY 101.43 (+29.3%).
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Forecasts for Fiscal Year Ending March 31,
2006
A 6th consecutive all-time record
is forecast for consolidated net sales and other operating
revenue based on a unit sales plan of 10.295 million
motorcycles, 3.415 million automobiles and 5.79 million power
products. (Unit sales of motorcycles, with local procurement
rates of 100% which are produced and sold by legal affiliates
in China and India, are expected to increase by 2.4 million
units to 3.4 million units, but are not included in the sales
plan total.) The consolidated forecast for the fiscal year
ending March 31, 2006 is as follows:
(Honda’s average rates : JPY
105 = U.S. dollar 1 JPY 135 = Euro 1) |
Yen
(billions) |
|
Year ended March 31, 2005 |
Forecast for year ending March 31, 2006
|
Difference (% change) |
Net sales and other
operating revenue |
8,650.1 |
9,300.0 |
+
649.8 (+7.5) |
Operating income |
630.9 |
650.0 |
+
19.0 (+3.0) |
Income before income taxes |
656.8 |
615.0 |
-
41.8 (-6.4) |
Equity in income of
affiliates |
96.0 |
77.0 |
-
19.0 (-19.8) |
Net income |
486.1 |
450.0 |
-
36.1 (-7.4) | Combined
with an expected rise in the interim dividend by JPY 9 to JPY
37, the total dividend to be paid for the fiscal year ending
March 31, 2006 is expected to be JPY 74.
Last edited by JeffX on
April 27, 2005 14:10
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