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Consolidated Financial Summary for the Fiscal 2nd Quarter ended September 30, 2012

Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal second quarter and the fiscal first half ended September 30, 2012.

Consolidated operating income for the fiscal second quarter (July 1, 2012 through September 30, 2012) amounted to 100.8 billion yen, an increase of 92.1% compared to the same period last year, primarily due to an increase in automobile sales, mainly in North America and Japan, as a result of the recovery from the impact of the Great East Japan Earthquake and strong sales of new models, as well as an increase in motorcycle sales, mainly in India. Consolidated income before income taxes amounted to 106.2 billion yen, an increase of 38.8% compared to the same period last year, and consolidated net income*1 amounted to 82.2 billion yen, an increase of 36.1% compared to the same period last year.

Consolidated operating income for the fiscal first half (April 1, 2012 through September 30, 2012) amounted to 276.8 billion yen, an increase of 268.7% compared to the same period last year, and consolidated net income*1 amounted to 213.9 billion yen, an increase of 132.0% compared to the same period last year.

Honda made a downward revision to the forecast for consolidated operating income for the current fiscal year ending March 31, 2013 from the previously announced 620.0 billion yen to 520.0 billion yen factoring in the impact of the recent situation in China, a decline in sales in Europe and South America due to changes in the business environment, and the unfavorable currency effects due to depreciation of local currencies in some emerging countries. In addition to consolidated operating income, Honda also made a downward revision to the forecast for consolidated net income*1 for the current fiscal year from the previously announced 470.0 billion yen to 375.0 billion yen anticipating a decline in equity in income of affiliates mostly in China.

Despite the revisions to forecasts for consolidated financial results for the current fiscal year, as per the previously announced forecast, the quarterly dividend for the current fiscal second quarter will be 19 yen per share, a 4 yen increase compared to the quarterly dividend for the same period last year. The total cash dividends to be paid for the fiscal year ending March 31, 2013 are planned to be 76 yen per share, an increase of 16 yen per share from the previous fiscal year.

Consolidated Financial Results for the Fiscal 2nd Quarter and Fiscal First half

2nd quarter

ended

Sep. 30, 2011

(3-month

period)

2nd quarter

ended

Sep. 30, 2012

(3-month period)

Difference

Fiscal first half ended

Sep. 30, 2011

(6-month period)

Fiscal first half ended

Sep. 30, 2012

(6-month period)

Difference

Honda Group Unit Sales*2

(million units)

Motorcycles*4

3.811

3.879

+0.068

7.288

7.790

+0.502

Automobiles*5

0.678

0.996

+0.318

1.303

1.995

+0.692

Power Products

1.276

1.288

+0.012

2.788

2.913

+0.125

Consolidated

Unit Sales*3

(million units)

Motorcycles*4

2.187

2.377

+0.190

4.136

4.743

+0.607

Automobiles*5

0.571

0.816

+0.245

1.029

1.665

+0.636

Power Products

1.276

1.288

+0.012

2.788

2.913

+0.125

Financial

Results

(billion yen)

Net sales and other

operating revenue

1,885.8

2,271.2

+385.3

3,600.4

4,707.1

+1,106.7

Operating income

52.5

100.8

+48.3

75.0

276.8

+201.7

Income before

income taxes

76.5

106.2

+29.7

105.8

301.0

+195.1

Equity in income

of affiliates

15.5

27.4

+11.9

44.2

48.2

+4.0

Net income*1

60.4

82.2

+21.8

92.2

213.9

+121.7

Quarterly dividend per share (yen)

15

19

+4

30

38

+8

Honda’s

average

rate (yen)

USD =

78

79

Yen depreciated

by 1 yen

79

79

EUR =

109

98

Yen appreciated

by 11 yen

113

101

Yen appreciated

by 12 yen


Forecasts for the Fiscal Year ending March 31, 2013 (FY13)

FY12 results

Previously announced

FY13 forecasts

(2012/7/31)*6

Revised

FY13 forecasts

(2012/10/29)

Difference compared to FY12 results

Difference compared to previously announced forecasts

Honda Group

Unit sales*2

(million units)

Motorcycles

15.061

16.600

15.560

+0.499

-1.040

Automobiles*5

3.108

4.300

4.120

+1.012

-0.180

Power Products

5.819

6.300

6.220

+0.401

-0.080

Consolidated

Unit Sales*3

(million units)

Motorcycles

8.650

9.900

9.620

+0.970

-0.280

Automobiles*5

2.482

3.540

3.490

+1.008

-0.050

Power Products

5.819

6.300

6.220

+0.401

-0.080

Financial

Results/

Forecasts

(billion yen)

Net sales and other operating revenue

7,948.0

10,300.0

9,800.0

+1,851.9

-500.0

Operating income

231.3

620.0

520.0

+288.6

-100.0

Income before

income taxes

257.4

635.0

540.0

+282.5

-95.0

Equity in income

of affiliates

100.4

120.0

80.0

-20.4

-40.0

Net income*1

211.4

470.0

375.0

+163.5

-95.0

Annual dividend per share (yen)

60

76

76

+16

Honda’s

average

rate (yen)

USD =

79

80

80

Yen depreciated by 1 yen

EUR =

108

105

103

Yen appreciated by 5 yen

Yen appreciated by 2 yen


*1 Net income attributable to Honda Motor Co., Ltd. based on U.S. generally accepted accounting principles.
*2 Honda Group Unit Sales is the total unit sales of completed products (motorcycles, ATVs, automobiles, power products) of Honda, its consolidated subsidiaries and its affiliates accounted for under the equity method.
*3 Consolidated Unit Sales is the total unit sales of completed products (motorcycles, ATVs, automobiles, power products) corresponding to consolidated net sales, which consists of unit sales of completed products of Honda and its consolidated subsidiaries.
*4 Consolidated Unit Sales of ATVs included in motorcycle business for the fiscal 2nd quarter ended September 30, 2011 and 2012 are 31 thousand units and 30 thousand units, respectively. Consolidated Unit Sales of ATVs included in motorcycle business for the fiscal first half ended September 30, 2011 and 2012 are 57 thousand units and 59 thousand units, respectively.
*5 Certain sales of automobiles that are financed with residual value type auto loans by our Japanese finance subsidiaries are accounted for as operating leases in conformity with U.S. generally accepted accounting principles and are not included in consolidated net sales to the external customers in our automobile business. As a result, they are not included in Consolidated Unit Sales, but are included in Honda Group Unit Sales of our automobile business.
*6 Forecasts announced on July 31, 2012 were the same as the forecasts announced at the beginning of the current fiscal year (announced on April 27, 2012).

TOKYO, Japan / Bucuresti, 29.10.2012

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