1 2 3 4 5 6 7 8

Financial Data

Operating and Financial Review Operating Profit Profit before Income Taxes

Sales Revenue Operating profit decreased by ¥92.7 billion, or 12.8%, to Profit before income taxes decreased by ¥189.4 billion, or
¥633.6 billion from the previous fiscal year, due mainly to a 19.3%, to ¥789.9 billion. The main factors behind this decrease,
Honda’s consolidated sales revenue for the fiscal year decrease in profit attributable to decreased sales revenue and except factors relating to operating profit, are as follows:
ended March 31, 2020, decreased by ¥957.6 billion, or model mix as well as negative foreign currency effects, which Share of profit of investments accounted for using the equity
6.0%, to ¥14,931.0 billion from the fiscal year ended March was partially offset by continuing cost reduction as well as method had a negative impact of ¥64.6 billion, due mainly to a
31, 2019, due mainly to decreased sales revenue in the decreased selling, general and administrative expenses. Honda decrease in profit attributable to decreased sales revenue at
Automobile business as well as negative foreign currency estimates that by excluding negative foreign currency effects affiliates and joint ventures in Asia.
translation effects, which was partially offset by increased of approximately ¥105.8 billion, operating profit would have Finance income and finance costs had a negative impact
sales revenue in the Financial services business. Honda increased by approximately ¥13.1 billion. of ¥32.1 billion, due mainly to effect from gains or losses on
estimates that by applying Japanese yen exchange rates With respect to the discussion above of the changes, foreign exchange.
of the previous fiscal year to the current fiscal year, management identified factors and used what it believes to
sales revenue for the year would have decreased by be a reasonable method to analyze the respective changes in Income Tax Expense
approximately ¥599.2 billion, or 3.8%, compared to the such factors. Management analyzed changes in these factors
decrease as reported of ¥957.6 billion, which includes at the levels of the Company and its material consolidated Income tax expense decreased by ¥23.1 billion, or 7.6%, to
negative foreign currency translation effects. subsidiaries. “Foreign currency effects” consist of “translation ¥279.9 billion from the previous fiscal year. The average
adjustments”, which come from the translation of the currency effective tax rate increased by 4.5 percentage points to 35.4%
Operating Costs and Expenses of foreign subsidiaries’ financial statements into Japanese yen, from the previous fiscal year.
and “foreign currency adjustments”, which result from foreign-
Operating costs and expenses decreased by ¥864.8 billion, or currency-denominated transaction. With respect to “foreign
5.7%, to ¥14,297.3 billion from the previous fiscal year. Cost currency adjustments”, management analyzed foreign currency
of sales decreased by ¥729.2 billion, or 5.8%, to ¥11,851.6 adjustments primarily related to the following currencies: U.S.
billion from the previous fiscal year, due mainly to a decrease dollar, Japanese yen and others at the level of the Company
in costs attributable to decreased consolidated sales revenue and its material consolidated subsidiaries. The estimates
in the Automobile business. Selling, general and administrative excluding the foreign currency effects are not on the same
expenses decreased by ¥132.8 billion, or 7.5%, to ¥1,641.5 base as Honda’s consolidated financial statements, and do not
billion from the previous fiscal year. Research and development conform to IFRS. Furthermore, Honda does not believe that
expenses totaled to ¥804.1 billion basically unchanged from the these measures are substitute for the disclosure required by
previous fiscal year. IFRS. However, Honda believes that such estimates excluding
the foreign currency effects provide financial statements users
with additional useful information for understanding Honda’s
results.

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Financial Data

Profit for the Year Operating segments and geographic segments in financial data
Segment Principal products and services Functions

Profit for the year decreased by ¥166.3 billion, or 24.6%, to Motorcycle Motorcycles, all-terrain Research and development,
Business vehicles (ATVs), side-by-sides Manufacturing, Sales and
¥509.9 billion from the previous fiscal year. (SxS) and relevant parts related services
Automobile Automobiles and relevant parts Research and development,
Profit for the Year Attributable to Owners of the Parent Business Manufacturing, Sales and
related services
Financial Financial services Retail loan and lease related
Profit for the year attributable to owners of the parent Services to Honda products, Others
decreased by ¥154.5 billion, or 25.3%, to ¥455.7 billion from the Business

previous fiscal year. Life Creation Power products and relevant Research and development,
and Other parts, and others Manufacturing, Sales and
Businesses related services, Others
Profit for the Year Attributable to Non-controlling Interests • Operating segments are defined as the components of Honda for which separate
financial information is available that is evaluated regularly by the chief operating
decision maker in deciding how to allocate resources and in assessing performance.
Profit for the year attributable to non-controlling interests The accounting policies used for these reportable segments are consistent with the
decreased by ¥11.7 billion, or 17.9%, to ¥54.1 billion from the accounting policies used in the Company’s consolidated financial statements.

previous fiscal year.

Area Major countries
North America United States, Canada, Mexico
Europe United Kingdom, Germany, Belgium, Italy, France
Asia Thailand, Indonesia, China, India, Vietnam
Other Regions Brazil, Australia
• Segmentation by country and region is based on geographical proximity.

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Financial Data

Motorcycle Business
Honda Group Unit Sales* (thousands)
FY19 FY20 Change % Total demand for motorcycles in Asia*1 decreased around 7% *1 Based on Honda research. Only includes the following eight countries: Thailand,
Indonesia, Malaysia, the Philippines, Vietnam, India, Pakistan and China.
Total 20,238 19,340 (898) (4.4) from the previous year to approximately 41,090 thousand units *2 Source: ABRACICLO (the Brazilian Association of Motorcycle, Moped, and Bicycle
Japan 207 205 (2) (1.0) in calendar year 2019. Looking at market conditions by country, Manufacturers)
North America 301 330 29 9.6 in calendar year 2019, demand in India decreased around 13%
Europe 249 239 (10) (4.0) from the previous year to approximately 18,790 thousand units.
Asia 18,224 17,262 (962) (5.3) Demand in Indonesia increased around 3% from the previous
Other Regions 1,257 1,304 47 3.7 year to approximately 6,500 thousand units. Demand in China
decreased around 6% from the previous year to approximately
Consolidated Unit Sales* (thousands)
6,500 thousand units. Demand in Vietnam decreased around
FY19 FY20 Change %
4% from the previous year to approximately 3,250 thousand
Total 13,215 12,426 (789) (6.0)
units. Demand in Pakistan decreased around 3% from the
Japan 207 205 (2) (1.0)
previous year to approximately 2,050 thousand units. Demand
North America 301 330 29 9.6
Europe 249 239 (10) (4.0)
in Thailand decreased around 3% from the previous year to
Asia 11,201 10,348 (853) (7.6)
approximately 1,740 thousand units. Honda’s consolidated unit
Other Regions 1,257 1,304 47 3.7 sales in Asia were 10,348 thousand units in fiscal year 2020, a
*Honda Group Unit Sales is the total unit sales of completed products of Honda, its
decrease by 7.6% from the previous fiscal year, mainly due to
consolidated subsidiaries and its affiliates and joint ventures accounted for using decreases primarily in sales of the Activa model in India, which
the equity method. Consolidated Unit Sales is the total unit sales of completed
products corresponding to consolidated sales revenue to external customers,
offset increases primarily in sales of such commuter models as
which consists of unit sales of completed products of Honda and its consolidated the RS150R in Malaysia. Honda’s consolidated unit sales do not
subsidiaries.
include sales by P.T. Astra Honda Motor in Indonesia, which is
accounted for using the equity method. P.T. Astra Honda Motor’s
unit sales for fiscal year 2020 decreased around 2.3% from
the previous fiscal year to approximately 4,850 thousand units,
mainly due to decreases primarily in sales of the BeAT model,
which offset increases primarily in sales of the new Genio
model.
Total demand for motorcycles in Brazil*2, the principal market
within Other Regions, increased around 13% from the previous
year to approximately 1,080 thousand units in calendar year
2019. In Other Regions (including South America, the Middle
East, Africa, Oceania and other areas), Honda’s consolidated
unit sales increased 3.7% from the previous fiscal year to 1,304
thousand units in fiscal year 2020 due mainly to an increase in
sales of the Elite 125 in Brazil.

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Financial Data

Automobile Business
Honda Group Unit Sales* (thousands)
FY19 FY20 Change % Total demand for automobiles in Japan*1 decreased around 4% sales of the Amaze in India, and the City in Malaysia. Honda’s
Total 5,323 4,790 (533) (10.0) from the previous fiscal year to approximately 5,030 thousand consolidated unit sales do not include unit sales of Dongfeng
Japan 719 672 (47) (6.5) units in fiscal year 2020. Honda’s consolidated unit sales in Honda Automobile Co., Ltd. and GAC Honda Automobile Co.,
North America 1,954 1,825 (129) (6.6) Japan decreased 8.4% from the previous fiscal year to 589 Ltd., both of which are joint ventures accounted for using the
Europe 169 133 (36) (21.3) thousand units*2 in fiscal year 2020. This was mainly because equity method in China. Unit sales in China decreased 7.3%
Asia 2,233 1,952 (281) (12.6) of the impact of restrictions on the supply of parts for the new from the previous fiscal year to 1,389 thousand units in fiscal
Other Regions 248 208 (40) (16.1) N-WGN, which offset increases primarily in sales of the Freed. year 2020. The decrease was mainly attributable to a decrease
Honda’s unit production of automobiles in Japan decreased in sales of the Fit model, despite the effect of launching the
Consolidated Unit Sales* (thousands)
11.4% from the previous fiscal year to 808 thousand units in new Envix model and the Inspire. Honda’s unit production by
FY19 FY20 Change %
fiscal year 2020. This was mainly because of decreases due to consolidated subsidiaries in Asia decreased 24.4% from the
Total 3,748 3,318 (430) (11.5)
effects of restrictions on the supply of parts for the new N-WGN. previous fiscal year to 606 thousand units*6 in fiscal year 2020.
Japan 643 589 (54) (8.4)
Total industry demand for automobiles in the United States*3, Meanwhile, unit production by Chinese joint ventures Dongfeng
North America 1,954 1,825 (129) (6.6)
Europe 169 133 (36) (21.3)
the principal market within North America, decreased around Honda Automobile Co., Ltd. and GAC Honda Automobile Co., Ltd.
Asia 734 563 (171) (23.3)
1% from the previous year to approximately 17,040 thousand decreased 8.1% from the previous fiscal year to 1,370 thousand
Other Regions 248 208 (40) (16.1) units in calendar year 2019. This result reflected decreased units in fiscal year 2020.
*Honda Group Unit Sales is the total unit sales of completed products of Honda, its
demand for passenger cars, despite a continued increase for
consolidated subsidiaries and its affiliates and joint ventures accounted for using light trucks. Honda’s consolidated unit sales in North America *1 Source: JAMA (Japan Automobile Manufacturers Association), as measured by
the equity method. Consolidated Unit Sales is the total unit sales of completed the number of regular vehicle registrations (661cc or higher) and mini vehicles
products corresponding to consolidated sales revenue to external customers,
decreased 6.6% from the previous fiscal year to 1,825 thousand (660cc or lower)
which consists of unit sales of completed products of Honda and its consolidated units in fiscal year 2020. This decrease was mainly attributable *2 Certain sales of automobiles that are financed with residual value type auto
subsidiaries. Certain sales of automobiles that are financed with residual value loans by our Japanese finance subsidiaries and sold through our consolidated
type auto loans by our Japanese finance subsidiaries and sold through our
to the effect of a decrease in sales of the Civic model, despite subsidiaries are accounted for as operating leases in conformity with IFRS and
consolidated subsidiaries are accounted for as operating leases in conformity with increases primarily in sales of the Passport model. Honda are not included in consolidated sales revenue to external customers in the
IFRS and are not included in consolidated sales revenue to the external customers Automobile business. Accordingly, they are not included in consolidated unit
in our Automobile business. Accordingly, they are not included in Consolidated Unit
manufactured 1,736 thousand units in fiscal year 2020, a sales.
Sales, but are included in Honda Group Unit Sales of our Automobile business. decrease of 3.7% from the previous fiscal year, mainly due to *3 Source: Autodata
*4 Source: CAAM (China Association of Automobile Manufacturers)
decreases in demand for passenger cars. *5 The total is based on Honda research and includes the following eight countries:
Total demand for automobiles in China, the largest market Thailand, Indonesia, Malaysia, the Philippines, Vietnam, Taiwan, India and
Pakistan.
within Asia, decreased around 8% from the previous year *6 The total includes the following nine countries: Thailand, Indonesia, Malaysia, the
to approximately 25,760 thousand units*4 in calendar year Philippines, Vietnam, Taiwan, India, Pakistan and China.

2019. Total demand for automobiles in other countries in Asia

decreased around 9% from the previous calendar year to
approximately 7,810 thousand units*5. This was mainly due to
decreases in demand in India and Indonesia. Honda’s
consolidated unit sales in Asia decreased 23.3% from the
previous fiscal year to 563 thousand units in fiscal year 2020.
The decrease was mainly attributable to the decrease in

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Financial Data

Life Creation and Other Businesses

Honda Group Unit Sales/Consolidated Unit Sales* (thousands)
FY19 FY20 Change % Honda’s consolidated unit sales in North America decreased
Total 6,301 5,701 (600) (9.5) 6.6% from the previous fiscal year to 2,848 thousand units in
Japan 336 312 (24) (7.1) fiscal year 2020, mainly due to a decrease in the sales of OEM
North America 3,049 2,848 (201) (6.6) engines*, which offset an increase primarily in the sales of
Europe 984 845 (139) (14.1) lawnmowers.
Asia 1,559 1,375 (184) (11.8) Honda’s consolidated unit sales in Europe decreased 14.1%
Other Regions 373 321 (52) (13.9) from the previous fiscal year to 845 thousand units in fiscal
*Honda Group Unit Sales is the total unit sales of completed products of Honda, its year 2020, mainly due to a decrease in sales of OEM engines
consolidated subsidiaries and its affiliates and joint ventures accounted for using
the equity method. Consolidated Unit Sales is the total unit sales of completed and lawnmowers.
power products corresponding to consolidated sales revenue to external Honda’s consolidated unit sales in Asia decreased 11.8%
customers, which consists of unit sales of completed power products of Honda and
its consolidated subsidiaries. In Life Creation business, there is no discrepancy from the previous fiscal year to 1,375 thousand units in fiscal
between Honda Group Unit Sales and Consolidated Unit Sales since no affiliate year 2020. This was mainly due to a decrease in sales of OEM
and joint venture accounted for using the equity method was involved in the sale of
Honda power products. engines and brush cutters.

*OEM (Original Equipment Manufacturer) engines: refers to engines installed on

products sold under a third-party brand.

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Financial Data

Consolidated Statements of Financial Position March 31, 2019 and 2020

Yen (millions) Yen (millions)

Assets 2019 2020 Liabilities and Equity 2019 2020
Current assets: Current liabilities:
Cash and cash equivalents ¥2,494,121 ¥2,672,353 Trade payables ¥1,184,882 ¥958,469
Trade receivables 793,245 633,909 Financing liabilities 3,188,782 3,248,457
Receivables from financial services 1,951,633 1,878,358 Accrued expenses 476,300 449,716
Other financial assets 163,274 190,053 Other financial liabilities 132,910 209,065
Inventories 1,586,787 1,560,568 Income taxes payable 49,726 43,759
Other current assets 358,234 365,769 Provisions 348,763 287,175
Total current assets 7,347,294 7,301,010 Other current liabilities 599,761 593,447
Total current liabilities 5,981,124 5,790,088
Non-current assets:
Investments accounted for using Non-current liabilities:
713,039 655,475
the equity method Financing liabilities 4,142,338 4,221,229
Receivables from financial services 3,453,617 3,282,807 Other financial liabilities 63,689 303,570
Other financial assets 417,149 441,724 Retirement benefit liabilities 398,803 578,909
Equipment on operating leases 4,448,849 4,626,063 Provisions 220,745 238,439
Property, plant and equipment 2,981,840 3,051,704 Deferred tax liabilities 727,411 698,868
Intangible assets 744,368 760,434 Other non-current liabilities 319,222 344,339
Deferred tax assets 150,318 132,553 Total non-current liabilities 5,872,208 6,385,354
Other non-current assets 162,648 209,695 Total liabilities 11,853,332 12,175,442
Total non-current assets 13,071,828 13,160,455
Total assets ¥20,419,122 ¥20,461,465 Equity:
Common stock 86,067 86,067
Capital surplus 171,460 171,823
Treasury stock （177,827） （273,940）
Retained earnings 7,973,637 8,142,948
Other components of equity 214,383 （114,639）
Equity attributable to owners of the parent 8,267,720 8,012,259
Non-controlling interests 298,070 273,764
Total equity 8,565,790 8,286,023
Total liabilities and equity ¥20,419,122 ¥20,461,465

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Financial Data

Consolidated Statements of Income Consolidated Statements of Cash Flows Years ended March 31, 2019 and 2020
Years ended March 31, 2019 and 2020
Yen (millions) Yen (millions) Yen (millions)
2019 2020 2019 2020 2019 2020
Sales revenue ¥15,888,617 ¥14,931,009 Cash flows from operating activities: Cash flows from investing activities:
Profit before income taxes ¥979,375 ¥789,918 Payments for additions to property,
¥（420,768） （370,195）
¥
Operating costs and expenses: plant and equipment
Depreciation, amortization and
721,695 699,877
（12,580,949） （11,851,659） impairment losses excluding equipment Payments for additions to and internally
Cost of sales （187,039） （231,063）
on operating leases developed intangible assets
Selling, general and administrative （1,774,393） （1,641,590）
Share of profit of investments accounted Proceeds from sales of property,
Research and development （806,905） （804,123） （228,827） （164,203） 20,765 17,638
for using the equity method plant and equipment and intangible assets
Total operating costs and expenses （15,162,247） （14,297,372） Finance income and finance costs, net （88,608） （47,892） Payments for acquisitions of subsidiaries, − （3,047）
Operating profit 726,370 633,637 Interest income and interest costs net of cash and cash equivalents acquired
（124,076） （130,636）
Share of profit of investments accounted from financial services, net Payments for acquisitions of investments （2,401） （14,584）
228,827 164,203
for using the equity method Changes in assets and liabilities accounted for using the equity method
Finance income and finance costs: Payments for acquisitions of other
Trade receivables 9,344 132,702 （506,431） （282,806）
Interest income 48,618 49,412 financial assets
Inventories （60,906） （59,931）
Interest expense （13,217） （24,689） Proceeds from sales and redemptions of
Trade payables （11,816） （141,159） other financial assets
515,670 265,980
Other, net （11,223） （32,645） Accrued expenses 25,372 （4,529） Other, net 2,649 （1,404）
Total finance income and finance costs 24,178 （7,922） Provisions and retirement benefit
（1,590） 118 Net cash used in investing activities （577,555） （619,481）
Profit before income taxes 979,375 789,918 liabilities
Cash flows from financing activities:
Income tax expense （303,089） （279,986） Receivables from financial services （260,704） 103,614
Proceeds from short-term financing
Profit for the year ¥676,286 ¥509,932 Equipment on operating leases （230,311） （270,677） liabilities
8,435,249 9,037,608
Other assets and liabilities 11,045 （20,524） Repayments of short-term financing liabilities （8,213,698） （9,039,601）
Profit for the year attributable to: Other, net 3,706 10,959 Proceeds from long-term financing liabilities 1,900,257 2,021,173
Owners of the parent ¥610,316 ¥455,746 Dividends received 175,244 185,742 Repayments of long-term financing liabilities （1,726,097） （1,676,504）
Non-controlling interests 65,970 54,186 Interest received 270,776 288,821 Dividends paid to owners of the parent （194,271） （196,795）
Earnings per share attributable to owners Interest paid （150,162） （162,263） Dividends paid to non-controlling interests （66,872） （54,280）
of the parent（Yen） Income taxes paid, net of refund （263,569） （230,522） Purchases and sales of treasury stock, net （64,556） （96,113）
Basic and diluted 345.99 260.13 Net cash provided by operating activities 775,988 979,415 Repayments of lease liabilities （47,088） （78,659）
Other, net − （4,240）
Net cash provided by (used in) financing
22,924 （87,411）
activities
Effect of exchange rate changes on cash and
16,276 （94,291）
cash equivalents
Net change in cash and cash equivalents 237,633 178,232
Cash and cash equivalents at beginning of year 2,256,488 2,494,121
Cash and cash equivalents at end of year ¥2,494,121 ¥2,672,353

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Financial Data

Segment Information Segment information as of and for the years ended March 31, 2019 and 2020 is as follows:

As of and for the year ended March 31, 2019 As of and for the year ended March 31, 2020

Yen (millions) Yen (millions)

Financial Life Creation Financial Life Creation

Motorcycle Automobile Services and Other Segment Reconciling Motorcycle Automobile Services and Other Segment Reconciling
Business Business Business Businesses Total Items Consolidated Business Business Business Businesses Total Items Consolidated
Sales revenue: Sales revenue:
External customers ¥2,100,155 ¥11,072,117 ¥2,365,355 ¥350,990 ¥15,888,617 − ¥15,888,617 External customers ¥2,059,335 ¥9,959,080 ¥2,586,965 ¥325,629 ¥14,931,009 − ¥14,931,009
Intersegment − 215,647 14,687 26,266 256,600 （256,600） − Intersegment − 235,558 13,972 25,025 274,555 （274,555） −
Total 2,100,155 11,287,764 2,380,042 377,256 16,145,217 （256,600） 15,888,617 Total 2,059,335 10,194,638 2,600,937 350,654 15,205,564 （274,555） 14,931,009
Segment profit (loss) 291,642 209,694 235,945 （10,911） 726,370 − 726,370 Segment profit (loss) 285,668 153,323 219,704 （25,058） 633,637 − 633,637
Segment assets 1,523,817 7,923,802 10,236,066 328,870 20,012,555 406,567 20,419,122 Segment assets 1,483,888 7,821,499 10,282,136 354,472 19,941,995 519,470 20,461,465
Depreciation and 66,680 603,124 784,683 14,198 1,468,685 − 1,468,685 Depreciation and
67,512 555,153 823,996 14,742 1,461,403 − 1,461,403
amortization amortization
Capital expenditures 74,024 525,419 2,041,735 16,074 2,657,252 − 2,657,252 Capital expenditures 93,871 498,260 2,248,597 17,611 2,858,339 − 2,858,339

Explanatory notes:
• Intersegment sales revenues are generally made at values that approximate arm’s-length prices.
• Reconciling items include elimination of intersegment transactions and balances as well as unallocated corporate assets. Unallocated corporate assets included in reconciling items as of March 31, 2019 and 2020 amounted to ¥682,842 million and ¥787,022
million, respectively, which consist primarily of the Company’s cash and cash equivalents and financial assets measured at fair value through other comprehensive income.

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Financial Data

Motorcycle Business Financial Services Business

Sales revenue from external customers decreased by ¥40.8 Sales revenue from external customers increased by ¥221.6
billion, or 1.9%, to ¥2,059.3 billion from the previous fiscal billion, or 9.4%, to ¥2,586.9 billion from the previous fiscal
year, due mainly to decreased consolidated unit sales as year, due mainly to increased revenues on disposition of
well as negative foreign currency translation effects. lease vehicles and operating lease revenues.
Operating profit decreased by ¥5.9 billion, or 2.0%, to Operating profit decreased by ¥16.2 billion, or 6.9%, to
¥285.6 billion from the previous fiscal year, due mainly to ¥219.7 billion from the previous fiscal year, due mainly to
a decrease in profit attributable to decreased sales volume increased selling, general and administrative expenses,
and model mix as well as negative foreign currency effects, which was partially offset by an increase in profit
which was partially offset by continuing cost reduction. attributable to increased sales revenue.

Automobile Business Life Creation and Other Businesses

Sales revenue from external customers decreased by Sales revenue from external customers decreased by ¥25.3
¥1,113.0 billion, or 10.1%, to ¥9,959.0 billion from the billion, or 7.2%, to ¥325.6 billion from the previous fiscal
previous fiscal year, due mainly to decreased consolidated year, due mainly to decreased consolidated unit sales in Life
unit sales. creation business.
Operating profit decreased by ¥56.3 billion, or 26.9%, to Operating loss was ¥25.0 billion, an increase of ¥14.1
¥153.3 billion from the previous fiscal year, due mainly to billion from the previous fiscal year, due mainly to a
a decrease in profit attributable to decreased sales volume decrease in profit attributable to decreased sales volume
and model mix as well as negative foreign currency effects, and model mix. In addition, operating loss of aircraft and
which was partially offset by decreased selling, general aircraft engines included in the Life creation and other
and administrative expenses as well as continuing cost businesses was ¥42.2 billion, an increase of ¥2.0 billion
reduction. from the previous fiscal year.

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Financial Data

Financial Summary Fiscal years ended March 31

U.S. GAAP IFRS

Yen (millions) Yen (millions)
2010 2011 2012 2013 2014 2015 2014 2015 2016 2017 2018 2019 2020
Sales, income and Sales, income and
dividends dividends
Net sales and other ¥8,579,174 ¥8,936,867 ¥7,948,095 ¥9,877,947 ¥11,842,451 ¥12,646,747 Sales revenue ¥12,506,091 ¥13,328,099 ¥14,601,151 ¥13,999,200 ¥15,361,146 ¥15,888,617 ¥14,931,009
operating revenue
Operating income 363,775 569,775 231,364 544,810 750,281 606,878 Operating profit 823,864 670,603 503,376 840,711 833,558 726,370 633,637
Operating margin 4.2% 6.4% 2.9% 5.5% 6.3% 4.8% Operating margin 6.6% 5.0% 3.4% 6.0% 5.4% 4.6% 4.2%
Income before income 336,198 630,548 257,403 488,891 728,940 644,809 Share of profit of 130,916 96,097 126,001 164,793 247,643 228,827 164,203
taxes and equity in investments accounted for
income of affiliates using the equity method
Income taxes 146,869 206,827 135,735 178,976 252,662 235,204 Profit before income 933,903 806,237 635,450 1,006,986 1,114,973 979,375 789,918
taxes
Equity in income of 93,282 139,756 100,406 82,723 132,471 126,570 Income tax expense 267,992 245,139 229,092 327,592 (13,666) 303,089 279,986
affiliates
Net income attributable to (14,211) (29,389) (10,592) (25,489) (34,642) (43,168) Profit for the year 665,911 561,098 406,358 679,394 1,128,639 676,286 509,932
non-controlling interests
Net income attributable 268,400 534,088 211,482 367,149 574,107 493,007 Profit for the year 624,703 509,435 344,531 616,569 1,059,337 610,316 455,746
to Honda Motor Co., Ltd. attributable to owners
of the parent
Cash dividends paid 61,696 92,170 108,138 129,765 142,381 158,601 Dividends paid to 142,381 158,601 158,601 162,205 174,221 194,271 196,795
during the period owners of the parent
Research and development 463,354 487,591 519,818 560,270 634,130 662,610 R&D expenditures 625,698 670,331 719,810 659,918 730,734 820,037 821,478
Interest expense 12,552 8,474 10,378 12,157 12,703 16,598 Interest expense 12,803 18,194 18,146 12,471 12,970 13,217 24,689

Assets, long-term debt Assets, liabilities and

and shareholders’ equity equity
Total assets ¥11,629,115 ¥11,577,714 ¥11,787,599 ¥13,635,357 ¥15,622,031 ¥18,088,839 Total assets ¥16,048,438 ¥18,425,837 ¥18,229,294 ¥18,958,123 ¥19,349,164 ¥20,419,122 ¥20,461,465
Long-term debt 2,313,035 2,043,240 2,235,001 2,710,845 3,234,066 3,933,860 Financing liabilities 3,224,512 3,926,276 3,736,628 4,022,190 3,881,749 4,142,338 4,221,229
(Non-current liabilities)
Total Honda Motor Co., Ltd. 4,328,640 4,439,587 4,398,249 5,043,500 5,918,979 6,696,693 Equity attributable to 6,335,534 7,108,627 6,761,433 7,295,296 7,933,538 8,267,720 8,012,259
shareholders’ equity owners of the parent

Capital expenditures 348,981 326,620 424,413 630,408 782,027 714,502 Additions to property, 803,231 703,920 687,306 588,360 484,778 466,657 455,169
(excluding purchase of plant and equipment
operating lease assets)
Depreciation 401,743 377,272 345,105 335,536 442,318 490,375 Depreciation 419,022 451,052 486,410 484,133 513,455 499,036 470,320
(excluding property on
operating leases)

financial data Honda Sustainability Repor t 2020 180

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Financial Data

Financial Summary (continued) Fiscal years ended March 31

U.S. GAAP IFRS

Yen Yen
2010 2011 2012 2013 2014 2015 2014 2015 2016 2017 2018 2019 2020
Per common share Per share
Net income attributable Profit for the year
to Honda Motor Co., Ltd.: attributable to owners
of the parent
Basic ¥147.91 ¥295.67 ¥117.34 ¥203.71 ¥318.54 ¥273.54 Basic ¥346.62 ¥282.66 ¥191.16 ¥342.10 ¥590.79 ¥345.99 ¥260.13
Diluted 147.91 295.67 117.34 203.71 318.54 273.54 Diluted 346.62 282.66 191.16 342.10 590.79 345.99 260.13
Dividends 38 54 60 76 82 88 Dividends 82 88 88 92 100 111 112
Honda Motor Co., Ltd. 2,385.45 2,463.29 2,440.35 2,798.37 3,284.14 3,715.66 Equity attributable to 3,515.27 3,944.23 3,751.59 4,047.81 4,461.36 4,698.74 4,640.46
shareholders’ equity owners of the parent
Yen (millions) Yen (millions)
Sales Sales
Sales amounts:*1 Sales revenue:*1
Japan ¥1,577,318 ¥1,503,842 ¥1,517,927 ¥1,652,995 ¥1,912,504 ¥1,810,283 Japan ¥1,920,114 ¥1,800,439 ¥1,754,167 ¥1,799,772 ¥1,919,130 ¥2,042,891 ¥1,985,945
18% 17% 19% 17% 16% 14% 15% 14% 12% 13% 12% 13% 13%
Overseas 7,001,856 7,433,025 6,430,168 8,224,952 9,929,947 10,836,464 Overseas 10,585,977 11,527,660 12,846,984 12,199,428 13,442,016 13,845,726 12,945,064
82% 83% 81% 83% 84% 86% 85% 86% 88% 87% 88% 87% 87%
Total ¥8,579,174 ¥8,936,867 ¥7,948,095 ¥9,877,947 ¥11,842,451 ¥12,646,747 Total ¥12,506,091 ¥13,328,099 ¥14,601,151 ¥13,999,200 ¥15,361,146 ¥15,888,617 ¥14,931,009
100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Thousands Thousands
Unit sales:*2 Unit sales:*2
Motorcycle Business 9,639 18,331 15,061 15,494 17,021 17,765 Motorcycle Business 17,008 17,592 17,055 17,661 19,554 20,238 19,340
Automobile Business 3,392 3,529 3,108 4,014 4,323 4,364 Automobile Business 4,340 4,367 4,743 5,028 5,199 5,323 4,790
Life Creation Business 4,744 5,509 5,819 6,071 6,036 6,001 Life Creation Business 6,018 5,983 5,965 6,121 6,262 6,301 5,701

Number of employees 176,815 179,060 187,094 190,338 198,561 203,902 Number of employees 199,368 204,730 208,399 211,915 215,638 219,722 218,674

Exchange rate Exchange rate

(yen amounts per U.S. dollar) (yen amounts per U.S. dollar)
Rates for the period-end ¥93 ¥83 ¥82 ¥94 ¥103 ¥120 Rates for the period-end ¥103 ¥120 ¥113 ¥112 ¥106 ¥111 ¥109
Average rates for the 93 86 79 83 100 110 Average rates for the 100 110 120 108 111 111 109
period period

*1 The geographic breakdown of sales amounts is based on the location of customers.

*2 Honda changed its counting method for unit sales as follows;
· 2009–2010: the total of unit sales of completed products of Honda and its consolidated subsidiaries, and sales of parts for local production at Honda’s affiliates accounted for using the equity method
· 2011–2020: the total of unit sales of completed products of Honda, its consolidated subsidiaries and its affiliates accounted for using the equity method (Honda Group Unit Sales)

financial data Honda Sustainability Repor t 2020 181