Daily Management Review

Honda's net income falls by 8.5% for 9 months of 2020-21


Japanese group Honda's net income attributable to company shareholders fell 8.5 percent to 444.1 billion yen ($4.2 billion) for the nine months ended Dec. 31 for fiscal 2020-2021, according to the company's financial statements.

Diluted earnings per share were 257.21 yen ($2.4) compared with 276.13 yen ($2.6) a year earlier. Revenue for Honda decreased 16.7% to 9.55 trillion yen ($90.5 billion).

The company's net profit in the third quarter of this fiscal year rose 2.4 times to 284 billion yen ($2.69 billion). Diluted earnings per share were 164.51 yen ($1.56) versus 66.37 yen ($0.6) a year earlier. Honda's revenue rose 0.6% to 3.771 trillion yen ($35.7 billion).

The company expects net income for the current fiscal year to be 465 billion yen ($4.4 billion) compared with the 390 billion yen ($3.69 billion) the company projected in November 2020. Revenue, however, the company estimates will be 12.95 trillion yen ($122.7 billion) rather than the 13.05 trillion yen ($123.6 billion) previously expected.

Honda Motor was founded in 1946. Up until the 1960s, the company was engaged exclusively in the production of motorcycles, and only by the 1970s was able to establish itself on the international market as one of Japan's leading automakers.

source: bloomberg.com