Honda Motor Co., Ltd. · TSE:7267
Honda Motor — Q2 2026 Earnings Presentation
32 slides from Honda Motor's earnings presentation, Nov 7, 2025
Slide 1: Fiscal First Half Year Ended September 30, 2025 Financial Results
Fiscal First Half Year Ended September 30, 2025 Financial Results November ７, 2025
Slide 2: Summary
Summary Financial Results for Six Months Ended September 30, 2025 Operating Profit 438.1 bil. yen Motorcycles: Although sales in Vietnam declined, global sales remained strong, primarily driven by growth in Brazil. For the six months ended September 30, we achieved the record-high sales volume, oper
Slide 3: Six Months Ended September 30, 2025: Consolidated Financial Results
Six Months Ended September 30, 2025: Consolidated Financial Results Six Months Ended September 30 Yen (billion) 2024 2025 Amount Change Sales revenue 10,797.6 10,632.6 - 164.9 - 1.5% Operating profit 742.6 438.1 - 304.4 - 41.0% Operating margin 6.9% 4.1% - 2.8 pt Share of profit (loss) of investment
Slide 4: Consolidated Financial Forecast for FYE March 31, 2026
Consolidated Financial Forecast for FYE March 31, 2026 FYE March 31, 2025 FYE March 31, 2026 Change from Results Revised forecast Amount Change previous forecast Yen (billion) Sales revenue 21,688.7 20,700.0 - 988.7 - 4.6% - 400.0 Operating profit 1,213.4 550.0 - 663.4 - 54.7% - 150.0 Operating marg
Slide 5: Dividends
Dividends FYE March 31, 2026 FYE March 31, 2026 Change Dividend per Share (Yen) Previous forecast Revised forecast from previous forecast Interim Dividend 35 35 ₋ Year-end Dividend (35) * (35) ₋ Fiscal Year (70) (70) ₋ *（ ) : Forecast 55
Slide 6: Fiscal First Half Year Ended September 30, 2025 Financial Results
Fiscal First Half Year Ended September 30, 2025 Financial Results
Slide 7: Six Months Ended September 30, 2025: Honda Unit Sales
Six Months Ended September 30, 2025 : 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 2024 2025 Change 2024 2025 Change 2024 2025 Change Japan 100 112 + 12 302 280
Slide 8: Six Months Ended September 30, 2025: Consolidated Financial Results
Six Months Ended September 30, 2025: Consolidated Financial Results Six Months Ended September 30 Yen (billion) 2024 2025 Amount Change Sales revenue 10,797.6 10,632.6 - 164.9 - 1.5% Operating profit 742.6 438.1 - 304.4 - 41.0% Operating margin 6.9% 4.1% - 2.8 pt Share of profit (loss) of investment
Slide 9: Six Months Ended September 30, 2025: Change in Operating Profit
Six Months Ended September 30, 2025: Change in Operating Profit Yen (billion) Operating Profit - 304.4 ( - 41.0 ％) Excl. one-time EV-related expenses and tariff impacts + 83.6 (+ 11.3 ％ ) ・Provisions for losses and impairment on EVs being sold in the U.S. ・Write-offs of development assets for EV mod
Slide 10: Sales Revenue/Operating Profit (Margin) by Business Segment
Six Months Ended September 30, 2025: Sales Revenue/Operating Profit (Margin) by Business Segment upper: Six Months Ended September 30, 2025 Motorcycle Automobile Financial Services Power Products and lower: Six Months Ended Business Business Business Other Businesses September 30, 2024 Unit (thousan
Slide 11: Change in Operating Profit for Motorcycle Business
Six Months Ended September 30, 2025: Change in Operating Profit for Motorcycle Business Despite the negative foreign currency effects and other factors, operating profit increased mainly due to higher sales volume in Asia and South America. Yen (billion) Operating Profit + 42.4 ( + 13.0 ％ ) + 32.3 -
Slide 12: Change in Operating Profit for Automobile Business
Six Months Ended September 30, 2025: Change in Operating Profit for Automobile Business Despite the positive effect of price revisions and other factors, operating profit substantially decreased mainly due to one-time EV-related expenses and tariff impacts. Yen (billion) Operating Profit - 331.0 ・Pr
Slide 13: Cash Flows of Non-Financial Services Businesses
Cash Flows of Non-Financial Services Businesses Yen (billion) Six Months Ended Six Months Ended September 30, 2024 September 30, 2025 Cash flows from operating activities + 886.1 + 871.3 Cash flows from investing activities - 513.8 - 110.7 Free cash flow + 372.3 + 760.6 Cash flows from financing act
Slide 14: Fiscal Year Ending March 31, 2026 Financial Forecast
Fiscal Year Ending March 31, 2026 Financial Forecast
Slide 15: Forecast for FYE March 31, 2026: Honda Unit Sales
Forecast for FYE March 31, 2026: 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 2026 2026 2026 2026 2026 2026 Group Change Change Change Unit Sales Previous Revised Previous Revised Pre
Slide 16: Consolidated Financial Forecast for FYE March 31, 2026
Consolidated Financial Forecast for FYE March 31, 2026 FYE March 31, 2025 FYE March 31, 2026 Change from Results Revised forecast Amount Change previous forecast Yen (billion) Sales revenue 21,688.7 20,700.0 - 988.7 - 4.6% - 400.0 Operating profit 1,213.4 550.0 - 663.4 - 54.7% - 150.0 Operating marg
Slide 17: Forecast for FYE March 31, 2026: Change in Operating Profit
Forecast for FYE March 31, 2026: Change in Operating Profit Yen (billion) Operating Profit - 663.4 ( - 54.7 ％ ) + 280.0 - 91.5 - 126.0 1,213.4 + 23.0 - 214.0 Expenses*3 Sales impacts*1 Price/Cost R&D - 385.0 impacts*2 Foreign currency effects*4 - 150.0 550.0 Tariff impacts Operating Semiconductor Op
Slide 18: Forecast for FYE March 31, 2026: Change in Operating Profit
Forecast for FYE March 31, 2026: Change in Operating Profit Yen (billion) Operating Profit - 150.0 ( - 21.4 ％ ) 700.0 - 83.0 + 65.0 - 150.0 - 70.0 + 88.0 Sales impacts*1 - - Tariff impacts 550.0 Price/Cost Expenses*3 R&D Foreign currency Semiconductor impacts*2 effects*4 supply shortage impacts Oper
Slide 19: Capital Expenditures/Depreciation and Amortization/R&D Expenditures
Forecast for FYE March 31, 2026: Capital Expenditures/Depreciation and Amortization/R&D Expenditures FYE March 31, 2025 FYE March 31, 2026 Change from Change Results Revised forecast previous forecast Yen (billion) Capital expenditures*1 537.4 660.0 + 122.5 + 20.0 Depreciation and amortization*1 456
Slide 20: Caution with Respect to Forward-Looking Statements
Caution with Respect to Forward-Looking Statements: This presentation contains forward-looking statements about the performance and shareholders return of Honda, which are based on management’s assumptions and beliefs taking into account information currently available to it. Therefore, please be ad
Slide 21: HONDA | How we move you.
HONDA | Howwe move you. The Power of Dreams CREATE » TRANSCEND, AUGMENT
Slide 22: Appendix
HONDA Appendix
Slide 23: Six Months Ended September 30, 2025: Change in Operating Profit
[Reference] Six Months Ended September 30, 2025: Change in Operating Profit Yen (billion) Operating Profit - 304.4 ( - 41.0 ％ ) + 162.4 - 34.2 - 109.6 742.6 - 42.4 Expenses*3 - 116.2 Sales impacts*1 Price/Cost R&D - 164.3 impacts*2 Foreign currency effects*4 438.1 Tariff impacts Operating Operating
Slide 24: Three Months Ended September 30, 2025: Change in Operating Profit
Three Months Ended September 30, 2025: Change in Operating Profit Yen (billion) Operating Profit - 63.9 ( - 24.8 ％ ) Excl. one-time EV-related expenses and tariff impacts + 77.5 ( + 30.1 ％ ) + 40.9 + 4.1 - 30.0 335.4 - 101.7 + 93.8 R&D 257.9 - 31.4 Expenses*3 Foreign currency effects*4 - 39.6 One-ti
Slide 25: Sales Revenue/Operating Profit (Margin) by Business Segment
Three Months Ended September 30, 2025 : Sales Revenue/Operating Profit (Margin) by Business Segment upper: Three Months Ended September 30, 2025 Motorcycle Automobile Financial Services Power Products and lower: Three Months Ended Business Business Business Other Businesses September 30, 2024 Unit (
Slide 26: Change in Sales Revenue
Three Months / Six Months Ended September 30, 2025: Change in Sales Revenue (sales revenue from external customers） Compared with three months ended September 30, 2024: - 100.3 billion yen / - 1.9 % Three Months (Excluding foreign currency translation effects: - 47.2 billion yen / - 0.9 %) Change Sa
Slide 27: Sales Revenue/Operating Profit by Geographical Segment
Three Months / Six Months Ended September 30, 2025: Sales Revenue/Operating Profit by Geographical Segment Yen (billion) Japan North America Europe Asia Other Regions Three Months 2024 2025 2024 2025 2024 2025 2024 2025 2024 2025 Sales Revenue 1,333.4 1,300.6 3,305.6 3,120.6 235.1 246.6 1,185.1 1,18
Slide 28: Capital Expenditures/Depreciation and Amortization/R&D Expenditures
Fiscal First Half Year Ended September 30, 2025: Capital Expenditures/Depreciation and Amortization/R&D Expenditures Three Months Ended September 30 Six Months Ended September 30 2024 2025 2024 2025 Change Change Results Results Results Results Yen (billion) Capital expenditures 86.3 111.4 + 25.1 17
Slide 29: Consolidated Statements of Financial Position
Six Months Ended September 30, 2025: 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, 2025 2025 2
Slide 30: Sales Revenue/Operating Profit by Business Segment
Sales Revenue/Operating Profit by Business Segment Yen(billion) QTD YTD (FYE March 31) FYE March 31, 2025 FYE March 31, 2026 Change Change 2025 2026 Change Segment Information 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q (%) Change Results Results (%) Sales Revenue Motorcycle Business 937.6 873.0 896.2 919.6 951.5 969.1
Slide 31: 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, 2025 FYE March 31, 2026 Change 2025 2026 2025 2026 Honda Group 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Change Change Results Results Results Forecast Unit Sales Motorcycles 5,062 5,320 5,126 5,064 5,143
Slide 32: Electrified Automobile Retail Sales per Power Trains
Electrified Automobile Retail Sales per Power Trains Unit (thousand) QTD YTD (FYE March 31) FYE March 31, 2025 FYE March 31, 2026 Electrified Change 2025 2026 Automobile 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Change Results Results Retail Sales* Global HEV 204 217 231 246 225 229 + 12 420 455 + 35 PHEV 4 5 5 3 3 3