Honda Motor Q4 Profit Down, Sales Rise; Sees Weak Operting Profit, Higher Sales In FY23

Japanese automajor Honda Motor Co. Ltd. (HMC) reported Friday that fourth-quarter profit attributable to owners of the parent decreased 41.5 percent to 124.90 billion yen from last year's 213.32 billion yen. Earnings per share amounted to 73.02 yen, down from 123.55 yen last year.

Operating profit decreased 6.4 percent to 199.5 billion yen, due mainly to price and cost impacts.

The results reflected certain unfavorable factors such as the resurgence of COVID-19, a decrease in automobile unit sales due to the semiconductor supply shortage and an increase in the cost of raw materials.

Consolidated sales revenue increased 7 percent to 3.88 trillion yen from prior year's 3.62 trillion yen, despite decreased sales revenue in Automobile business operations.

Looking ahead for fiscal 2023, the company expects attributable profit of 710 billion yen or 415.06 yen per share, a growth of 0.4 percent from last year; operating profit of 810 billion yen, down 7 percent, and sales revenue of 16.25 trillion yen, up 11.7 percent.

The company projects increase of sales volume.

Further, the company said the year-end dividend will be 65 yen per share; total dividends to be paid for the fiscal year 2022 will be 120 yen per share, an increase by 10 yen per share compared to the previously announced forecast.

The forecast for total dividends to be paid for the fiscal year 2023 is 120 yen per share, equivalent to FY22.

In Japan, Honda Motor gained 2.2 percent and traded at 3,320 yen.

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