Honda Motor booked fiscal first half revenue of JPY3.65trn (down 2.1% year on year) which, investor website seekingalpha.com said, beat analysts’ consensus by JPY290bn.

Operating income was JPY282.96bn and quarterly dividend will be JPY19/share, an increase of JPY8 compared to the previous forecast; total dividends paid for the fiscal year are planned to be JPY68/share.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

In a statement, the automaker said, despite a decrease in demand due to the impact of the COVID-19 pandemic, consolidated operating profit for the fiscal first half was JPY169.2bn yen, “back in the black”, due primarily to control of selling, general and administrative (SG&A) expenses resulting from a fundamental review of business activities in all areas.

Consolidated operating profit for fiscal Q2 rose 28.5% due mainly to control of SG&A expenses and cost reduction. This was despite a decrease in profit related to changes in sales revenue and model mix.

Noting “the future outlook remains uncertain due to the impact of COVID-19”, Honda revised upward its forecast for consolidated operating profit to JPY420bn “reflecting the business constitution built during the fiscal first half”.

See Also:

First half sales revenue fell 25.2% to JPY5,775.1bn. Operating profit fell 64.2% to JPY169.2bn.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Q2 sales revenue was off 2.1% to JPY3,651.3bn but operating profit rose 28.5% to JPY282.9bn.

“Although sales are gradually recovering in many countries as restrictions on economic activities are being lifted, sales revenue experienced a year-on-year decrease due to a decrease in sales mainly in North America and Asia,” Honda said.