Honda Motor Co., Ltd. · TSE:7267
Honda Motor — Q2 2027 Earnings Presentation
31 slides from Honda Motor's earnings presentation, Nov 11, 2026
Slide 1: Fiscal First Half Year Ended September 30, 2026 Financial Results
Fiscal First Half Year Ended September 30, 2026 Financial Results November 10, 2026
Slide 2: Summary
Summary Six Months Ended September 30, 2026 Fiscal Year Ending March 31, 2027 Shareholder Returns Financial Results Financial Forecast Operating Profit 648.7 billion yen Operating Profit 780.0 billion yen DPS 70 yen (No change has been made from the previous forecast) (YoY + 48.1%) (compared to the
Slide 3: Investments for Future Growth
Investments for Future Growth Automobile Business Motorcycle Business In anticipation of growing demand for HEVs in North Brazil serves as an export hub for 19 countries, America, a new automobile production plant will be including countries across South America and the U.S., established in Ohio, th
Slide 4: Fiscal First Half Year Ended September 30, 2026 Financial Results
Fiscal First Half Year Ended September 30, 2026 Financial Results
Slide 5: Six Months Ended September 30, 2026: Honda Unit Sales
Six Months Ended September 30, 2026 : Honda Unit Sales Unit (thousand) Motorcycles Automobiles Power Products Honda Six Months Ended September 30 Six Months Ended September 30 Six Months Ended September 30 Group Unit Sales 2025 2026 Change 2025 2026 Change 2025 2026 Change Japan 112 76 - 36 280 278
Slide 6: Six Months Ended September 30, 2026: Consolidated Financial Results
Six Months Ended September 30, 2026 : Consolidated Financial Results Six Months Ended September 30 Yen (billion) 2025 2026 Amount Change Sales revenue 10,632.6 12,037.6 + 1,404.9 + 13.2% Operating profit ① 438.1 648.7 + 210.5 + 48.1% Operating margin 4.1% 5.4% + 1.3 pt Share of profit (loss) of inve
Slide 7: Change in Adjusted Operating Profit
Six Months Ended September 30, 2026: Change in Adjusted Operating Profit Yen (billion) + 471.7 ( + 71.3％ ) + 97.0 1,133.6 + 148.3 Adjusted + 16.4 + 109.5 Operating 661.8 + 111.4 - 11.0 Tariff impacts Profit R&D Foreign currency Price/Cost Expenses*3 effects*4 Sales impacts*1 impacts*2 Operating Oper
Slide 8: Sales Revenue/Operating Profit (Margin) by Business Segment
Six Months Ended September 30, 2026: Sales Revenue/Operating Profit (Margin) by Business Segment upper: Six Months Ended September 30, 2026 Motorcycle Automobile Financial Services Power Products and lower: Six Months Ended Business Business Business Other Businesses September 30, 2025 Unit (thousan
Slide 9: Change in Operating Profit for Motorcycle Business
Six Months Ended September 30, 2026: Change in Operating Profit for Motorcycle Business Operating profit increased mainly due to higher sales volume in India and Brazil. Yen (billion) + 70.7 ( + 19.2％ ) + 43.0 + 7.9 439.0 368.2 + 23.7 - 4.5 + 5.4 - 4.9 Tariff impacts Price/Cost Expenses*3 R&D Foreig
Slide 10: Change in Adjusted Operating Profit for Automobile Business
Six Months Ended September 30, 2026: Change in Adjusted Operating Profit for Automobile Business Despite factors including the impact of rising material costs, operating profit increased mainly due to higher sales volume, favorable foreign exchange effects and tariff impacts. Yen (billion) + 328.3 (
Slide 11: Cash Flows of Non-Financial Services Businesses
Cash Flows of Non-Financial Services Businesses Yen (billion) Six Months Ended Six Months Ended September 30, 2025 September 30, 2026 Cash flows from operating activities + 871.3 + 929.0 Cash flows from investing activities - 110.7 - 662.6 Free cash flow + 760.6 + 266.4 Cash flows from financing act
Slide 12: Fiscal Year Ending March 31, 2027 Financial Forecast
Fiscal Year Ending March 31, 2027 Financial Forecast
Slide 13: Forecast for FYE March 31, 2027: Honda Unit Sales
Forecast for FYE March 31, 2027: Honda Unit Sales Unit (thousand) Motorcycles Automobiles Power Products FYE March 31, FYE March 31, FYE March 31, FYE March 31, FYE March 31, FYE March 31, Honda 2027 2027 2027 2027 2027 2027 Group Change Change Change Unit Sales Previous Revised Previous Revised Pre
Slide 14: Consolidated Financial Forecast for FYE March 31, 2027
Consolidated Financial Forecast for FYE March 31, 2027 FYE March 31, 2026 FYE March 31, 2027 Change from Results Revised forecast Amount Change previous forecast Yen (billion) Sales revenue 21,796.6 24,400.0 + 2,603.3 + 11.9% + 250.0 Operating profit ① - 414.3 780.0 + 1,194.3 ― + 130.0 Operating mar
Slide 15: Forecast: Change in Adjusted Operating Profit vs Previous Forecast
Forecast for FYE March 31, 2027: Change in Adjusted Operating Profit Yen (billion) + 130.0 ( + 11.1 ％ ) Adjusted ― + 39.0 ― 1,300.0 Operating 1,170.0 + 20.0 + 30.0 + 41.0 Profit Expenses*3 R&D Foreign currency Tariff impacts Sales impacts*1 Price/Cost effects*4 impacts*2 Operating Operating Margin M
Slide 16: Forecast: Change in Adjusted Operating Profit vs Prior Year
Forecast for FYE March 31, 2027: Change in Adjusted Operating Profit Yen (billion) + 260.6 ( + 25.1 ％ ) Adjusted + 286.7 - 283.0 + 147.0 1,300.0 Operating + 67.0 Profit 1,039.3 + 33.0 + 10.0 Foreign currency Tariff impacts Sales impacts*1 Price/Cost Expenses*3 R&D impacts*2 effects*4 Operating Opera
Slide 17: Capital Expenditures/Depreciation and Amortization/R&D Expenditures
Forecast for FYE March 31, 2027: Capital Expenditures/Depreciation and Amortization/R&D Expenditures FYE March 31, 2026 FYE March 31, 2027 Change from Change Results Revised forecast previous forecast Yen (billion) Capital expenditures*1 751.3 1,400.0 + 648.6 + 120.0 Depreciation and amortization*1
Slide 18: Dividends
Dividends We will strive to achieve dividends with a target of DOE*1 3.0% FYE March 31, 2027 Dividend per Share (forecast) 70 Yen (No change has been made from the previous forecast) Historical Dividend per share (Yen)*2 70 (70)* 3 68 68 More Stable and Continuous Dividend per Share (Yen) Shareholde
Slide 19: Caution with Respect to Forward-Looking Statements
Caution with Respect to Forward-Looking Statements: This slide contains forward-looking statements about the performance of Honda, which are based on management’s assumptions and beliefs taking into account information currently available to it. Therefore, please be advised that Honda’s actual resul
Slide 20: HONDA | How we move you.
HONDA | Howwe move you. The Power of Dreams CREATE » TRANSCEND, AUGMENT
Slide 21: Appendix
HONDA Appendix
Slide 22: Three Months Ended September 30, 2026: Change in Adjusted Operating Profit
Three Months Ended September 30, 2026: Change in Adjusted Operating Profit Yen (billion) + 307.1 ( + 103.9％ ) + 57.4 + 18.9 602.8 Yen (billion) Adjusted + 102.7 + 18.1 Operating Tariff impacts Profit + 117.5 - 7.6 R&D Foreign currency 295.7 Price/Cost Expenses*3 effects*4 impacts*2 Operating Sales i
Slide 23: Sales Revenue/Operating Profit (Margin) by Business Segment
Three Months Ended September 30, 2026 : Sales Revenue/Operating Profit (Margin) by Business Segment upper: Three Months Ended September 30, 2026 Motorcycle Automobile Financial Services Power Products and lower: Three Months Ended Business Business Business Other Businesses September 30, 2025 Unit (
Slide 24: Change in Sales Revenue
Three Months / Six Months Ended September 30, 2026: Change in Sales Revenue (sales revenue from external customers） Compared with three months ended September 30, 2025: + 683.7 billion yen / + 12.9 % Three Months (Excluding foreign currency translation effects: + 314.4 billion yen / + 5.9 %) Change
Slide 25: Sales Revenue/Operating Profit by Geographical Segment
Three Months / Six Months Ended September 30, 2026: Sales Revenue/Operating Profit by Geographical Segment Yen (billion) Japan North America Europe Asia Other Regions Three Months 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 Sales Revenue 1,300.6 1,422.1 3,120.6 3,665.5 246.6 245.7 1,185.3 1,30
Slide 26: Capital Expenditures/Depreciation and Amortization/R&D Expenditures
Fiscal First Half Year Ended September 30, 2026: Capital Expenditures/Depreciation and Amortization/R&D Expenditures Three Months Ended September 30 Six Months Ended September 30 2025 2026 2025 2026 Change Change Results Results Results Results Yen (billion) Capital expenditures 111.4 223.4 + 112.0
Slide 27: Consolidated Statements of Financial Position
Six Months Ended September 30, 2026: Consolidated Statements of Financial Position Divided into Non-financial Services Businesses and Finance Subsidiaries Yen (billion) Six months Ended Six months Ended FYE March 31, FYE March 31, Assets September 30, Liabilities and Equity September 30, 2026 2026 2
Slide 28: Sales Revenue/Operating Profit by Business Segment
Sales Revenue/Operating Profit by Business Segment Yen(billion) QTD YTD (FYE March 31) FYE March 31, 2026 FYE March 31, 2027 Change Change 2026 2027 Change Segment Information 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q (%) Change Results Results (%) Sales Revenue Motorcycle Business 951.5 969.1 1,012.9 1,085.1 1,141.1
Slide 29: Honda Group Unit Sales/Consolidated Unit Sales
Honda Group Unit Sales/Consolidated Unit Sales Unit (thousand) QTD YTD (FYE March 31) FYE March 31 FYE March 31, 2026 FYE March 31, 2027 Change 2026 2027 2026 2027 Honda Group 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Change Change Unit Sales Results Results Results Results Motorcycles 5,143 5,620 5,677 5,661 5,663 6
Slide 30: Electrified Automobile Retail Sales per Power Trains
Electrified Automobile Retail Sales per Power Trains Unit (thousand) QTD YTD (FYE March 31) FYE March 31, 2026 FYE March 31, 2027 Electrified Change 2026 2027 Automobile 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Change Results Results Retail Sales* Global HEV 225 229 230 245 250 244 + 15 454 494 + 40 PHEV 3 3 2 3 1 1
Slide 31: Honda's Proprietary Metrics
Honda's Proprietary Metrics 【Adjusted profit】 Operating profit excluding one-time special factors, such as losses resulting from the review of our automobile electrification strategy Adjusted operating profit＝Operating profit ー EV-related losses 【EV-related losses】 Yen (billion) FYE March 31, FYE Ma