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Honda Motor Turns To Profit In Q4

Honda Motor Co., Ltd. (HMC) reported that its profit attributable to owners of the parent for the fourth-quarter was 213.3 billion yen compared to a loss of 29.5 billion yen last year.

Operating profit was 213.2 billion yen compared to an operating loss of 5.6 billion yen in the prior year. The increase was due primarily to control of SG&A expenses and an increase in profit related to changes in sales volume and model mix.

Sales revenue was 3.62 trillion yen, an increase of 4.8% from last year. The increase was due to an increase in sales revenue from all businesses.

Honda plans to achieve a consolidated operating profit of 660 billion yen for the fiscal year ending March 31, 2022, equivalent to that of fiscal year 2021, by increasing unit sales and making progress in initiatives to solidify its existing businesses.

Although production adjustments are currently being made at some Honda production operations globally due primarily to semiconductor supply shortages, Honda will minimize the impact of such production adjustments for the full-year results.

Quarterly dividend for the fiscal fourth quarter will be 54 yen per share; total dividends to be paid for the fiscal year ended March 31, 2021 will be 110 yen per share, an increase by 28 yen per share compared to the previously announced forecast.

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