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JAPAN: Honda operating income rises 5.1% but below expectations

By Graeme Roberts | 31 July 2013

Honda Motor fiscal first quarter operating income rose 5.1% to JPY184.9bn after motorcycle sales in Asia rose and it increased car sales in all regions except Japan.

Net income dipped to JPY9.2bn to JPY122.4bn.

Car sales were flat at just short of 1m units. Sales revenue was JPY2.834bn, up JPY398.1bn.

Honda held its full-year forecast.

The quarterly dividend for the fiscal first quarter will be JPY20 per share, a JPY1 increase year on year. The fiscal year payout is planned at JPY80, up JPY4.

The operating result was below the average estimate of JPY209.3bn in a Thomson Reuters I/B/E/S poll of four analysts.

Honda's no-chnage full year forecast for JPY780bn was lower than JPY840bn, the mean of estimates by 21 analysts.