Honda financial summary for Q1 of fiscal year ending March 31, 2022
Honda has released its results for the first quarter ended June 30, 2021, and despite some unfavourable factors, such as the semiconductor supply shortage and an increase in raw material costs, total corporate consolidated operating profit for the fiscal first quarter amounted to 243.2bn yen, a year-on-year increase by 356.9bn yen.
This was due primarily to a positive effect of the company’s ongoing initiatives to solidify its existing businesses as well as an increase in unit sales compared to the same period last year, which was heavily impacted by the COVID-19 pandemic.
Based on the forecast of a year-on-year increase in both sales revenue and profit for the current fiscal year (April 1, 2021 through March 31, 2022), Honda has revised its previously announced forecast for operating profit for this fiscal year upward by 120.0bn yen to 780.0bn yen.
Honda says it will acquire its own shares for the purpose, among others, of improving efficiency of its capital structure and implementing a flexible capital strategy.
In its motorcycle business, sales revenue was 518.2bn yen (a year-on-year increase of 243.9bn yen) - the increase was due to the recovery of sales, mainly in Asia. Operating profit was 80.6bn yen (a year-on-year increase of 69.4bn yen) - due primarily to higher profit related to changes in sales volume and model mix.
