Fiscal Year Ended March 31, 2026 Financial Results May 14, 2026 | |||
Thank you for your continued understanding of Honda's business activities.
Now, I will explain the financial results for the fiscal year ended March 2026, as well as the outlook for the fiscal year ending March 2027.
Summary | |||
Financial Results for FYE March 31, 2026 FYE March 31, 2026, EV-related losses amounted to - 1,577.8 bil. yen （Operating profit - 1,453.6 bil. Yen, Share of profit (loss) of investments accounted for using the equity method - 124.1 bil. yen） （Cumulative EV-related losses ～ Q3: - 267.1 bil. yen, Mar.12 additional EV-related losses due to changes to electrification strategy：- 1,310.6 bil. yen） Operating profit - 414.3 billion yen （Adjusted operating profit excluding EV-related losses : 1,039.3 bil. yen） Motorcycle business： Unit sales increases, primarily in India and Brazil, resulted in record-high volumes and operating profit Automobile business： Despite a challenging business environment - including higher tariff costs and lower unit sales due to factors such as semiconductor shortages - company-wide cost reductions were implemented and profitability was maintained, excl. EV-related losses Operating cash flows after R&D adjustment 2,657.9 bil. Yen（Maintained robust cash generation, in line with the previous year） Operating profit Previous Forecast FYE March 31, 2026 Operating profit Result Total EV-related losses - 1,453.6 Yen (billion) 1,039.3 - 267.1 - 1,186.4 ▲267.1 Incl. equity method income: - 1,310.6 bil. yen 550.0 ～ - 1,120.0 Cumulative EV Cumulative es FYE March 31, 2026 EV-related losses -related loss Forecast (Mar.12) ～Q3 FYE March 31, 2026 ～Q3 Result FYE March 31, 2026 FYE March 31, 2026 Forecast (Feb.10) Adjusted Operating Profit Addl. EV-related losses - 4,143 EV-related losses - 270.0 ～ - 570.0 | |||
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First, I will explain the key points of the financial results.
In the fiscal year ended March 2026, amid significant changes in the business environment surrounding EVs, we swiftly carried out a reorganization of our EV business and related investments.
By the third quarter, we recorded EV-related losses of 267.1 billion yen, including provisions for losses and impairment losses on EVs already being sold in the U.S.
In addition, as we explained on March 12, the cancellation of the launch and development of EV models that had been scheduled for production in North America resulted in additional losses of 1 trillion 310.6 billion yen in the fourth quarter.
As a result, total EV-related losses for the fiscal year ended March 2026 amounted to 1 trillion
577.8 billion yen.
Consequently, operating profit for the fiscal year ended March 2026 was a loss of 414.3 billion yen.
Excluding the 1 trillion 453.6 billion yen in EV-related losses, operating profit was 1 trillion
39.3 billion yen.
Motorcycle business achieved record-high sales volume and operating profit due to increased unit sales, mainly in India and Brazil.
Although the automobile business faced a harsh business environment - including higher tariff burdens and lower unit sales due to factors such as semiconductor supply shortages - we implemented company-wide cost reductions as one team, and excluding EV-related losses, we were profitable.
In addition, R&D-adjusted operating cash flow, which represents the funds available for future investment, came to 2 trillion 657.9 billion yen, and as in the previous fiscal year, we continue to maintain strong cash-generating capability.
Summary | |||
Financial Forecast for FYE March 31, 2027 Operating profit 500.0 billion yen（Adjusted operating profit excluding EV-related losses ：1 trillion yen） Despite the situation in the Middle East & higher material costs, target adjusted OP in line with the previous year via Motorcycles vol. gains & efficiency (fixed-cost cuts). Motorcycle business： By expanding production capacity in India and other measures, we plan to capture strong demand and target record-high sales of 22.8 mil. units. Automobile business： In Asia, we will support unit sales through model updates, while in North America will primarily strengthen ICE/HEV sales to increase volumes. FYE March 31, 2026 Operating profit Results FYE March 31, 2027 Operating profit Forecast Total EV-related losses - 1,453.6 Yen (billion) 1,039.3 - 267.1 - 1,186.4 1,000.0 - 500.0 Incl. equity method income: - 1,310.6 bil. yen Nine Months Ended 500.0 December 31, 2025 EV-related losses EV-related losses FYE March 31, 2026 Result FYE March 31, 2026 FYE March 31, 2027 FYE March 31, 2027 Adjusted Operating Profit Adjusted Operating Profit Forecast Addl. EV-related losses - 4,143 Forecast Shareholder returns FYE March 31, 2027 dividend forecast: 70 yen per share (unchanged vs. FYE March 31, 2026 actual) With a DOE target of 3.0%, we will maintain a stable and continuous dividend policy; DPS 70 yen per share, unchanged from FYE March 31, 2026 | |||
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Next, I will explain our consolidated earnings outlook for the fiscal year ending
March 2027.
First, regarding EV-related losses, while it is difficult at this point to forecast the amount precisely, we have reviewed the details as thoroughly as possible and have set EV-related losses for the fiscal year ending March 2027 at 500 billion yen.
In addition, although there are concerns about the situation in the Middle East and the impact of rising material prices, we expect operating profit excluding EV-related losses to be 1 trillion yen.
Including EV-related losses, we forecast operating profit for the fiscal year ending March 2027 to be 500 billion yen.
In terms of business segments, the motorcycle business will expand production capacity in India, accurately capture strong demand, and aim for record high sales of 22.8 million units.
As for the automobile business, in Asia we will support sales volumes through model changes, while in North America we will aim to expand profitability by strengthening sales of ICE and HEV models.
As for shareholder returns, we will set the annual dividend for the fiscal year ending March 2027 at 70 yen per share, the same amount as for the fiscal year ended March 2026.
Sound financial base, excluding the financial services business | |||
Operating cash flows Net cash at end of period Equity-to-asset ratio and after R&D adjustment* (Excluding cash and cash equivalents included in assets interest-bearing debt held for sale) Yen (trillion) Yen (trillion) Yen (trillion) monthly sales (months) Equity-to-asset ratio ratio (%) 64% 65% 63% 63% 55% 100.0 Equity 50.0% 3.7 Interest-bearing liabilities 0.0% 3.2 3.3 Other liabilities 3.0 -50.0 2.8 2.7 2.6 2.5 2.6 9.3 -100.0 2.4 2.0 2.4 2.1 2.2 10.2 10.0 -150.0 8.9 1.6 8.4 -200.0 1.2 -250.0 0.8 0.6 0.8 0.8 -300.0 6.5 3.8 4.1 5.1 5.3 -350.0 FYE FYE FYE FYE FYE FYE FYE FYE FYE FYE Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 FYE FYE FYE FYE FYE -400.0 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 * Cash Flows from operating activities (CFO) excluding R&D expenses (CFO of non-financial services businesses + R&D expenditures - amount transferred to development assets) | |||
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月商（ヵ 月）
自己資本比 率（％）
Next, I will explain our financial soundness.
As explained earlier, R&D-adjusted operating cash flow continues to maintain strong cash-generating capability, and as of the end of March 2026, the net cash balance of the operating companies stood at 3.3 trillion yen, meaning we have ample net cash on hand.
In addition, regarding our equity ratio, supported by retained earnings accumulated over time, the financial position of our operating companies -excluding the financial services business - continues to maintain an equity ratio of 55%, and we will continue to maintain a high level of financial soundness.
Fiscal Year Ended March 31, 2026 Financial Results | |||
Next, we will explain the details of our financial results.
FYE March 31, 2026: Honda Unit Sa | les | ||||||||||
Unit (thousand) oducts | |||||||||||
Motorcycles | Automobiles | Power Pr | |||||||||
Honda Group Unit Sales | FYE March 31 2025 | FYE March 31 2026 | Change | FYE March 31 2025 | FYE March 31 2026 | Change | FYE March 31 2025 | FYE March 31 2026 | Change | ||
Japan | 224 | 205 | - 19 | 630 | 605 | - 25 | 278 | 300 | + 22 | ||
North America | 548 | 538 | - 10 | 1,654 | 1,605 | - 49 | 1,020 | 927 | - 93 | ||
Europe | 475 | 407 | - 68 | 93 | 90 | - 3 | 651 | 712 | + 61 | ||
Asia | 17,478 | 18,738 | + 1,260 | 1,182 | 929 | - 253* | 1,413 | 1,295 | - 118 | ||
Other Regions | 1,847 | 2,213 | + 366 | 157 | 158 | + 1 | 338 | 355 | + 17 | ||
Total | 20,572 | 22,101 | + 1,529 | 3,716 | 3,387 | - 329 | 3,700 | 3,589 | - 111 | ||
Change (%) | + 7.4% | - 8.9% * - 199 in China are included. | - 3.0% | ||||||||
Consolidated Unit Sales | 13,685 | 14,673 | + 988 | 2,840 | 2,711 | - 129 | 3,700 | 3,589 | - 111 | ||
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First, for the fiscal year ended March 2026, total group unit sales were as follows compared with the same period of the previous year:
Motorcycle business: Mainly due to increases in Asia and South America, unit sales were 22 million 101 thousand units.
Automobile business: Due to decreases in Asia, mainly in China, unit sales were 3 million 387 thousand units.
Power Products business: Mainly due to decreases in Asia, unit sales were 3 million 589 thousand units.
FYE March 31, 2026: Consolidated Financial Results | |||
① ② ① - ② EV-related losses*1 FYE March 31, 2026 Adjusted*1 - 21,796.6 - 1,453.6 1,039.3 - 4.8% - 124.1 - 37.9 - 1,577.8 1,174.5 - 1,219.4 795.5 - 199.02 *1 Please refer to Appendix, page 31, for details on EV-related losses and adjusted profit. | |||
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Yen (billion) | FYE March 31 2025 | FYE March 31 2026 | Amount | Change |
Sales revenue | 21,688.7 | 21,796.6 | + 107.8 | + 0.5% |
Operating profit | 1,213.4 | - 414.3 | - 1,627.8 | - |
Operating margin | 5.6% | - 1.9% | - 7.5pt | |
Share of profit (loss) of investments accounted for using the equity method | 0.9 | - 162.0 | - 163.0 | - |
Profit before income taxes | 1,317.6 | - 403.3 | - 1,720.9 | - |
Profit for the year attributable to owners of the parent | 835.8 | - 423.9 | - 1,259.7 | - |
Earnings per share attributable to owners of the parent (Yen) | 178.93 | - 106.06 | - 284.99 | |
Market average rate (Yen) U.S. Dollar | *2 + weak | yen / - strong yen | ||
153 | 151 | - 2*2 | ||
For the consolidated financial results for the fiscal year ended March 2026:
First, from the fiscal year ended March 2026 through the fiscal year ending March 2027, EV-related losses arose as a result of revising our automobile electrification strategy. As this has made it difficult to see our underlying business performance, we are disclosing operating profit before reflecting these losses as "adjusted profit."
The consolidated financial results for the fiscal year ended March 2026, compared with the previous fiscal year, are as follows:
Operating profit decreased by 1 trillion 627.8 billion yen to a loss of 414.3 billion yen.
Share of profit/loss of investments accounted for using the equity method decreased by 163 billion yen to a loss of 162 billion yen.
Profit/loss attributable to owners of the parent decreased by 1 trillion 259.7 billion yen to a
loss of 423.9 billion yen.
Excluding EV-related losses, adjusted operating profit was 1 trillion 39.3 billion yen, and adjusted profit attributable to owners of the parent was 795.5 billion yen.
FYE March 31, 2026: Change in Operating Profit | |||||||
Yen (billion) .6 - 414.3 Operating Margin - 1.9% sses YE March 31, 2026 (Twelve Months) | |||||||
Operating Profit - 1,627.8 Excl. EV-related losses - 174.1 (- 14.4％ ) 1,213.4 + 292.3 - 118.5 - 41.7 - 77.0 + 117.8 Expenses*3 R&D - 346.9 Price/Cost Foreign currency 1,039.3 - 1,453 Sales impacts*1 impacts*2 effects*4 Tariff impacts Operating Operating Margin Margin 5.6% 4.8% FYE March 31, 2025 FYE March 31, 2026 (Twelve Months) (Twelve Months) Adjusted Operating Profit EV-related lo F | |||||||
*1 Sales impacts | *2 Price/Cost impacts | *3 Expenses | *4 Foreign currency effects | ||||
Sales volume, model mix + 40.4 Incentive - 45.3 Finance + 41.8 Other + 80.9 | Price revision + 311.0 Cost reduction, etc. - 18.7 | Warranty + 84.4 Finance - 107.9 Other - 95.0 | JPY / USD - 38.5 USD / Others + 13.5 (BRL, CAD, MXN) JPY / Asian currencies - 24.0 (INR, THB, VND, CNY, IDR) Other - 28.0 | ||||
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Next, I will explain the factors behind the year-on-year change in operating profit.
Operating profit decreased by 1trillion 627.8 billion yen compared with the same period of the previous year, resulting in an operating loss of 414.3 billion yen.
As for the factors behind the increase/decrease:
Sales impact: Mainly due to the impact of the semiconductor supply shortage, although automobile unit sales decreased, increases such as higher motorcycle unit sales resulted in a profit increase of 117.8 billion yen.
Selling price and cost impact: Due to factors including the effects of price revisions, this resulted in a profit increase of 292.3 billion yen.
SG&A expenses: Profit decrease of 118.5 billion yen
R&D expenses: Profit decrease of 41.7 billion yen
Foreign exchange impact: Profit decrease of 77.0 billion yen
Tariff impact: Profit decrease of 346.9 billion yen
Also, excluding EV-related losses, adjusted operating profit was 1 trillion 39.3 billion yen.
FYE March 31, 2026:
Sales Revenue/Operating Profit (Margin) by Business Segment (Twelve Months)
upper: FYE March 31, 2026
Motorcycle Business
Automobile Business
Financial Services Business
Power Products and Other Businesses
lower: FYE March 31, 2025
Unit (thousand)
Honda Group Unit Sales (Consolidated Unit Sales)
22,101
3,387
-
3,589
(14,673)
(2,711)
-
(3,589)
20,572
3,716
-
3,700
(13,685)
(2,840)
-
(3,700)
Yen (billion)
Sales Revenue
4,018.8
14,166.9
3,532.7
420.3
3,626.6
14,467.8
3,512.2
414.6
Operating Profit
731.9
- 1,411.1
275.5
- 10.6
663.4
243.8
315.6
- 9.4
Operating Margin
18.2%
- 10.0%
7.8%
- 2.5%
18.3%
1.7%
9.0%
- 2.3%
In the financial services business, Honda mainly provides retail lending and leasing to customers to support the sale of its automobile products.
Oper aircra
ating ft eng
profit from a ines includ Yen (billion
- 37.2
ircraf ed in a
)
t and bove
- 38.8
9
9
Next, operating profit by business segment was as follows: Motorcycle business: Achievement of record high of 731.9 billion yen
Automobile business: Due to the impact of EV-related losses of 1 trillion 453.6 billion yen, this resulted in a loss of 1 trillion 411.1 billion yen; however, excluding EV-related losses, adjusted operating profit was 42.5 billion yen.
Financial services business: 275.5 billion yen
Power Products and other businesses: A loss of 10.6 billion yen
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Twelve Months Ended March 31, 2026:
Change in Operating Profit for Motorcycle Business
Operating profit increased mainly due to higher sales volume i
Operating Profit + 68.4 ( + 10.3
+ 70.4 - 51.5 + 3.6
663.4 + 86.0 Expenses*3
Price/Cost R&D Fore
impacts*2
n Asia and Sou
％)
- 28.0 -
th
1
Ame
2.1
rica.
Yen (billion)
731.9
ign currency Tariff impacts effects
Operating Margin 18.2%
Operating Margin 18.3%
Sales impacts*1
FYE
(Tw
March 31, 2 elve Month
025
s)
FYE
(Tw
March 31, 2026 elve Months)
*1 Sales impacts
*2 Price/Cost impacts
*3 E
xpenses
Sales volume, model mix + 69.7 Incentive - 12.0
Other + 28.3
Price revision + 79.0 Cost reduction, etc. - 8.6
War Othe
anty - 10.0
r - 41.5
10
r
Motorcycle business operating profit was 731.9 billion yen, an increase of 68.4
billion yen compared with the same period of the previous year. As for the factors behind the increase/decrease:
Sales impact: Mainly due to increased unit sales in Asia and South America, operating profit increased by 86.0 billion yen
Selling price and cost impact: Due to factors including the effects of price revisions, operating profit increased by 70.4 billion yen
SG&A expenses: Operating profit decreased by 51.5 billion yen
R&D expenses: Operating profit increased by 3.6 billion yen
Foreign exchange impact: Operating profit decreased by 28 billion yen
Tariff impact: Operating profit decreased by 12.1 billion yen
Twelve Months Ended March 31, 2026:
Change in Operating Profit for Automobile Business
Despite EV-related losses and tariff impacts, adjusted OP due to price revisions and improvement ef
Operating Profit - 1,654.9
Excl. EV-related losses - 201.3 ( - 82.6％ )
243.8 - 47.8 + 223.0 + 44.1 - 47.3 - 41.6 - 33
Expenses*3 R&D Foreign currency
Sales impacts*1 Price/Cost effects
Operating impacts*2 Tariff imp
Margin 1.7%
FYE March 31, 2025
(Twelve Months)
remained pro forts.
1.6
42.5
acts Operating
Margin 0.3%
FYE March 31, 20 (Twelve Month
Adjusted Operatin
fit
-
26
s)
g Pr
EV
able
1,45
ofit
related
Yen (billion)
3.6 - 1,411.1
Operating Margin
- 10.0%
losses
FYE March 31, 2026
(Twelve Months)
*1 Sales impacts
*2 Price/Cost impacts
*3
Expenses
Sales volume, model mix - 31.6 Incentive - 36.4
Other + 20.2
Price revision + 232.4
Cost reduction, etc. - 9.4
W O
arranty + 95.1
her - 51.0
11
-
11
t
Operating profit for the automobile business decreased by 1 trillion 654.9 billion
yen year on year, resulting in a loss of 1 trillion 411.1 billion yen. As for the factors behind the increase/decrease:
Sales impact: Mainly due to a decline in unit sales caused by the semiconductor supply shortage and higher incentives, this resulted in a profit decrease of 47.8 billion yen
Selling price and cost impact: Due to factors such as the effects of price revisions, this resulted in a profit increase of 223.0 billion yen
SG&A expenses: Profit increase of 44.1 billion yen
R&D expenses: Profit decrease of 47.3 billion yen
Foreign exchange impact: Profit decrease of 41.6 billion yen
Tariff impact: Profit decrease of 331.6 billion yen
Additionally, excluding EV-related losses, adjusted operating profit was 42.5 billion yen.
Cash Flows of Non-Financial Services Businesses | ||||||
Yen (billion) | ||||||
FYE March 31, 2025 | FYE March 31, 2026 | |||||
Cash flows from operating activities | + 1,883.1 | + 1,681.9 | ||||
Cash flows from investing activities | - 1,217.2 | - 623.9 | ||||
Free cash flow | + 665.8 | + 1,058.0 | ||||
Cash flows from financing activities | - 1,390.3 | - 608.4 | ||||
Effects of exchange rate changes | - 38.4 | + 303.8 | ||||
Net change of cash and cash equivalents | - 762.9 | + 753.3 | ||||
Cash & cash equivalents at end of year | 3,861.7 | 4,615.1 | ||||
Cash and cash equivalents included in assets held for sale | - | 51.6 | ||||
Cash & cash equivalents at end of year (Excluding cash and cash equivalents included in assets held for sale) | 3,861.7 | 4,563.4 | ||||
Net cash at end of year (Excluding cash and cash equivalents included in assets held for sale) | 3,215.7 | 3,324.5 | ||||
Operating cash flows after R&D adjustment* | + 2,806.6 | + 2,657.9 | ||||
* Cash Flows from operating activities (CFO) excluding R& (CFO of non-financial services businesses + R&D expendi | D expenses tures - amount transferred to development assets) | |||||
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Continuing, I will explain the cash flow situation.
For the fiscal year ended March 2026, free cash flow of the operating companies excluding the financial services business was 1 trillion 58 billion yen.
The net cash balance at the end of the fiscal year was 3 trillion 324.5 billion yen. Adjusted operating cash flow after R&D was 2 trillion 657.9 billion yen.
Fiscal Year Ending March 31, 2027 Financial Forecast | |||
Next, I will explain the consolidated earnings forecast for the fiscal year ending March 2027.
Honda Group Unit Sales | FYE March 31, 2026 Result | FYE March 31, 2027 Forecast | Change | FYE March 31, 2026 Result | FYE March 31, 2027 Forecast | Change | FYE March 31, 2026 Result | FYE March 31, 2027 Forecast | Change |
Japan | 205 | 160 | - 45 | 605 | 600 | - 5 | 300 | 275 | - 25 |
North America | 538 | 610 | + 72 | 1,605 | 1,705 | + 100 | 927 | 955 | + 28 |
Europe | 407 | 440 | + 33 | 90 | 95 | + 5 | 712 | 715 | + 3 |
Asia | 18,738 | 19,220 | + 482 | 929 | 815 | - 114* | 1,295 | 1,340 | + 45 |
Other Regions | 2,213 | 2,370 | + 157 | 158 | 175 | + 17 | 355 | 365 | + 10 |
Total | 22,101 | 22,800 | + 699 | 3,387 | 3,390 | + 3 | 3,589 | 3,650 | + 61 |
* - 108 in China are included. 2,711 2,820 + 109 | 3,589 3,650 + 61 | ||||||||
Consolidated Unit Sales | 14,673 | 15,190 | + 517 | ||||||
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Forecast for FYE March 31, 2027: Honda Unit Sales
Unit (thousand)
Motorcycles
Automobiles
Power Products
14
Group unit sales, compared with the previous fiscal year, were as follows:
Motorcycle business: Reflecting an increase mainly in Asia, unit sales were 22.80 million units.
Automobile business: Reflecting an increase mainly in North America and a decrease in Asia, mainly in China, unit sales were 3.39 million units.
Power Products business: Reflecting an increase mainly in Asia, unit sales were
3.65 million units.
Consolidated Financial Forecast for FYE March 31, 2027 | |||
① ② ① - ② EV-related losses FYE March 31, 2027 forecast for adjusted - 23,150.0 - 500.0 1,000.0 - 4.3% - 0 - 500.0 1,000.0 - 360.0 620.0 - 159.28 | |||
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Yen (billion) | FYE March 31, 2026 Results | FYE March 31, 2027 Forecast | Amount | Change |
Sales revenue | 21,796.6 | 23,150.0 | + 1,353.3 | + 6.2% |
Operating profit | - 414.3 | 500.0 | + 914.3 | - |
Operating margin | - 1.9% | 2.2% | + 4.1pt | |
Share of profit (loss) of investments accounted for using the equity method | - 162.0 | 0 | + 162.0 | - |
Profit before income taxes | - 403.3 | 500.0 | + 903.3 | - |
Profit for the year attributable to owners of the parent | - 423.9 | 260.0 | + 683.9 | - |
Earnings per share attributable to owners of the parent (Yen) | - 106.06 | 66.79 | + 172.85 | |
Market average rate (Yen) U.S. Dollar | ||||
151 | 145 | - 6 | ||
Next, regarding the consolidated earnings forecast for the fiscal year ending March 2027:
We have set operating profit at 500 billion yen, and profit attributable to owners of the parent at 260 billion yen.
Adjusted operating profit is expected to be 1 trillion yen, on par with the previous fiscal year's adjusted operating profit, and adjusted profit attributable to owners of the parent is expected to be 620 billion yen.
As for our exchange rate assumption, we have set the full-year exchange rate at 145 yen per U.S. dollar.
Forecast for FYE March 31, 2027: Change in Adjusted Operating Profit | |||||||
Yen (billion) 1,000.0 | |||||||
Adjusted Operating Profit - 39.3 ( - 3.8％ ) + 266.7 - 313.0 1,039.3 - 8.0 + 10.0 - 142.0 + 147.0 | |||||||
Operating Margin 4.8% | Sales impacts*1 Price/Cost Expenses*3 R&D impacts*2 Foreign currency Tariff impacts effects*4 | Operating Margin 4.3% | |||||
FYE EV-related losses Operating profit | Results for March 31, 2 - 1,453.6 - 414.3 | Forec 026 FYE Marc - + 914.3 50 | ast for h 31, 202 500.0 0.0 | 7 | |||
*1 Sales impacts | *2 Price/Cost impacts | *3 Expenses | *4 Foreign currency effects | ||||
Sales volume, model mix + 214.1 Incentive - 36.7 Finance + 49.0 Other + 40.3 | Price revision + 138.0 Cost reduction, etc. - 451.0 | Warranty - 46.0 Finance + 66.0 Other - 28.0 | JPY / USD - 61.5 USD / Others - 0.5 (BRL, CAD, MXN) JPY / Asian currencies - 26.5 (INR, THB, VND, CNY, IDR) Other - 53.5 | ||||
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Next, I will explain the factors behind the increase/decrease in adjusted
operating profit compared with the previous fiscal year's results.
Adjusted operating profit is expected to decrease by 39.3 billion yen year on year. As for the factors behind the increase/decrease:
Sales impact: An increase in sales volume of motorcycles and Automobiles resulting in an increase in profit of 266.7 billion yen
Selling price and cost impact: Although there are profit increases due to cost reductions and price revisions, the impact of rising material prices-including the effects related to the Middle East-resulting in a decrease in profit of 313 billion yen
SG&A expenses: A 8 billion yen decrease is forecast
R&D expenses: A 10 billion yen increase is forecast
Foreign exchange effects: A 142 billion yen decrease is forecast
Tariff impacts: A 147 billion yen increase is forecast
Forecast for FYE March 31, 2027: Capital Expenditures/Depreciation and Amortization/R&D Expend | iture | |||||||
s | ||||||||
Yen (billion) | FYE March 31, 2026 | FYE March | 31, 20 ast | 27 | Change | |||
Results | Forec | |||||||
Capital expenditures*1 | 751.3 | 1,2 | 50.0 | + 498.6 | ||||
Depreciation and amortization*1 | 410.2 | 390.0 | - 20.2 | |||||
Research and development expenditures*2 | 1,174.8 | 1,1 | 70.0 | - 4.8 | ||||
*1 Capital expenditures as well as Depreciation in Re *2 Research and development expenditures are rese of research and development expenditures is recogn "Research and development" on Consolidated State | sults and Forecast shown above exclude investment in operat arch and development activities related costs incurred during ized as an intangible asset and amortized over its estimated u ments of Income. | ing le the re seful li | ases, right-of-use assets, and intangible assets. porting period. In accordance with IFRS, a portion fe. As such, this amount is not in conformity with | |||||
17 | ||||||||
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With regard to the outlook for capital expenditures, depreciation, and R&D spending for the fiscal year ending March 2027, we have set it as shown here.
In addition, this reflects an increase in capital expenditures resulting from the acquisition of the factory building for the battery production joint venture in the
U.S. with LG Energy Solution, among other factors.
Shareholder Returns | |||||||
DOE*1 has been introduced as a return indicator from FYE March 31, 2026 onward. We will strive to achieve dividends with a target of 3.0% to provide a more stable and continuou | s return. | ||||||
Dividend per Share (Yen) | FYE March 31, 2026 Previous forecast | FYE March 31, 2026 Results | FYE March 31, 2027 Forecast | ||||
Interim Dividend | 35 | 35 | (35) *2 | ||||
Year-end Dividend | 35 | 35 | (35) | ||||
Fiscal Year | 70 | 70 | (70) | ||||
*1 DOE: Adjusted d *2 ( ) : Forecast | ividend on equity attributable to | owners of the parent (Excluding "Other components of equity" from "Equity attributable to owners of the parent") | |||||
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Next, regarding dividends:
For the fiscal year ended March 2026, the year-end dividend was 35 yen per share, and the annual dividend was 70 yen.
As for the forecast annual dividend for the fiscal year ending March 2027, it is
expected to be 70 yen per share, the same as the previous fiscal year.
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 results could differ materially from those described in these forward-looking statements as a result of numerous factors, including general economic conditions in Honda's principal markets and fluctuation of foreign exchange rates, as well as other factors detailed from time to time.
Accounting standards:Our consolidated financial statements are prepared in conformity with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB).
Notice on the Factors for Increases and Decreases in Income:With respect to the discussion above of the changes, identified factors and used what it believes to be a reasonable method to analyze the respective changes in such factors. Analyzed changes in these factors at the levels of the Company and its material consolidated subsidiaries.
"Foreign currency effects" consist of "translation adjustments", which come from the translation of the currency of foreign subsidiaries' financial statements into Japanese yen, and "foreign currency adjustments", which result from foreign-currency-denominated transaction. With respect to "foreign currency adjustments", analyzed foreign currency adjustments primarily related to the following currencies: U.S. dollar, Japanese yen and others at the level of the Company and its material consolidated subsidiaries.
With respect to "Price and Cost impacts", analyzed effects of changes in sales price, cost reductions, effects of raw material cost fluctuations and others, excluding foreign currency effects.
With respect to "Sales impacts", analyzed changes in sales volume and in the mix of product models sold that resulted in increases/decreases in profit, changes in sales revenue of Financial services business that resulted in
increases/decreases in profit, as well as certain other reasons for increases/decreases in sales revenue and cost of sales, excluding foreign currency effects.
With respect to "Expenses", analyzed reasons for an increase/decrease in selling, general and administrative expenses from the previous fiscal year excluding foreign currency translation effects.
With respect to "Research and Development expenses", analyzed reasons for an increase/decrease in research and development expenses from the previous fiscal year excluding foreign currency translation effects.
Motorcycle Business
Honda Group Unit Sales is the total unit sales of completed products, including motorcycles, ATVs, and Side-by-Sides of Honda, its consolidated subsidiaries and its affiliates and joint ventures accounted for using the equity method. Consolidated Unit Sales is the total unit sales of completed products corresponding to consolidated sales revenue to external customers, which consists of unit sales of completed products of Honda and its consolidated subsidiaries.
Automobile Business
Honda Group Unit Sales is the total unit sales of completed products of Honda, its consolidated subsidiaries and its affiliates and joint ventures accounted for using the equity method. Consolidated Unit Sales is the total unit sales of completed products corresponding to consolidated sales revenue to external customers, which consists of unit sales of completed products of Honda and its consolidated subsidiaries. Certain sales of automobiles that are financed with residual value type auto loans and other by our Japanese finance subsidiaries and provided through our consolidated subsidiaries are accounted for as operating leases in conformity with IFRS and are not included in consolidated sales revenue to the external customers in our Automobile business. Accordingly, they are not included in Consolidated Unit Sales, but are included in Honda Group Unit Sales of our Automobile business.
Power Product Business
Honda Group Unit Sales is the total unit sales of completed power products of Honda, its consolidated subsidiaries and its affiliates and joint ventures accounted for using the equity method. Consolidated Unit Sales is the total unit sales of completed power products corresponding to consolidated sales revenue to external customers, which consists of unit sales of completed power products of Honda and its consolidated subsidiaries. In Power Product business, there is no discrepancy between Honda Group Unit Sales and Consolidated Unit Sales since no affiliate and joint venture accounted for using the equity method was involved in the sale of Honda power products.
* Earnings per share attributable to owners of the parent is calculated based on weighted average number of shares outstanding as shown below:
- Twelve Months Ended March 31, 2025 4,671,383,000 (approx.) , Ended March 31, 2026 3,997,277,000 (approx.)
Forecast Ended March 31, 2027 3,892,580,000 (approx.)
This concludes my explanation.
Thank you very much for your attention.
Appendix | |||
*1 Sales impacts | *2 Price/Cost impacts | *3 Expenses | *4 Foreign currency effects | ||||
Sales volume, model mix Incentive Finance Other | + 43.4 - 46.6 + 16.6 + 66.3 | Price revision Cost reduction, etc. | + 83.1 - 16.8 | Warranty Finance Other | + 52.6 - 38.9 - 23.6 | JPY / USD USD / Others (BRL, CAD, MXN) JPY / Asian currencies (INR, THB, VND, CNY, IDR) Other | + 12.5 + 17.5 - 5.0 + 8.9 |
22
Three Months Ended March 31, 2026: Change in Operating Profit
Yen (billion)
73.5
+ 79.7
+ 66.3
Price/Cost impacts*2
- 9.9
Expenses*3
- 6.0
R&D
+ 33.9
- 57.0
180.6
- 1,186.4
Foreign currency Tariff impacts
effects*4
- 1,005.8
Operating Sales impacts*1
Margin 1.4%
Three Months Ended March 31, 2025
Operating Margin 3.1%
Three Months Ended March 31, 2026
Adjusted Operating Profit
EV-related losses
Operating Margin
- 17.3%
Three Months Ended March 31, 2026
22
Excl. EV-related losses + 107.0 ( - 145.6％ )
Operating Profit - 1,079.4
Three Months Ended March 31, 2026: | ||||||||||||||||||||||||||
Sales Revenue/Operating Profit (Margin) by Business Segment | ||||||||||||||||||||||||||
upper: Three Months Ended March 31, 2026 | Motorcycle Business | Automobile Business | Financial Services Business | Power Products and Other Businesses | ||||||||||||||||||||||
lower: Three Months Ended March 31, 2025 | ||||||||||||||||||||||||||
Unit (thousand) Honda Group Unit Sales (Consolidated Unit Sales) | 5,661 | 826 | - | 1,082 | ||||||||||||||||||||||
(3,776) | (704) | - | (1,082) | |||||||||||||||||||||||
5,064 | 899 | - | 1,184 | |||||||||||||||||||||||
(3,287) | (707) | - | (1,184) | |||||||||||||||||||||||
Yen (billion) Sales Revenue | 1,085.1 | 3,732.0 | 974.8 | 129.6 | ||||||||||||||||||||||
919.6 | 3,569.2 | 849.0 | 113.2 | |||||||||||||||||||||||
Operating Profit | 185.3 | - 1,244.6 | 57.5 | - 4.0 | ||||||||||||||||||||||
161.7 | - 158.7 | 70.6 | 0.0 | |||||||||||||||||||||||
Operating Margin | 17.1% | - 33.4% | 5.9% | - 3.1% | ||||||||||||||||||||||
17.6% | - 4.4% | 8.3% | - 0.1% | |||||||||||||||||||||||
In the financial services business, Honda mainly provides retail lending and leasing to customers to support the sale of its automobile products. | Operating profit from aircraft and aircraft engines included in above Yen (billion) - 11.3 | |||||||||||||||||||||||||
- 10.5 | ||||||||||||||||||||||||||
23 | ||||||||||||||||||||||||||
23
Three Months Compared with three months ended March 31, 2025: + 460.9 billion yen / + 8.6 % (Excluding foreign currency translation effects: + 252.0 billion yen / + 4.7 %) | |||||||
Sales Revenue Yen (billion) | FYE March 31,2025 | FYE March 31,2026 | Change | Change excluding currency translation effects | |||
Motorcycle Business | 919.6 | 1,085.1 | + 165.5 | + 120.3 | + 13.1% | ||
Automobile Business | 3,484.7 | 3,643.6 | + 158.9 | + 27.0 | + 0.8% | ||
Financial Services Business | 848.0 | 974.1 | + 126.0 | + 100.3 | + 11.8% | ||
Power Products and Other Businesses | 107.6 | 118.0 | + 10.3 | + 4.4 | + 4.1% | ||
Total | 5,360.0 | 5,820.9 | + 460.9 | + 252.0 | + 4.7% | ||
Market average rate (Yen) | |||||||
U.S. Dollar | 153 | 157 | |||||
Twelve Months Compared with twelve months ended March 31, 2025: + 107.8 billion yen / + 0.5 % (Excluding foreign currency translation effects: + 255.4 billion yen / + 1.2 %) | |||||||
Sales Revenue Yen (billion) | FYE March 31,2025 | FYE March 31,2026 | Change | Change excluding currency translation effects | |||
Motorcycle Business | 3,626.6 | 4,018.8 | + 392.2 | + 432.2 | + 11.9% | ||
Automobile Business | 14,169.2 | 13,863.3 | - 305.8 | - 222.9 | - 1.6% | ||
Financial Services Business | 3,507.7 | 3,529.4 | + 21.7 | + 50.0 | + 1.4% | ||
Power Products and Other Businesses | 385.1 | 384.9 | - 0.2 | - 3.9 | - 1.0% | ||
Total | 21,688.7 | 21,796.6 | + 107.8 | + 255.4 | + 1.2% | ||
Market average rate (Yen) | |||||||
U.S. Dollar | 153 | 151 | |||||
24
Three Months / Twelve Months Ended March 31, 2026: Change in Sales Revenue (sales revenue from external customers）24
Three Months | Japan | North America | Europe | Asia | Other Regions | |||||
2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | |
Sales Revenue | 1,432.4 | 1,475.1 | 3,106.4 | 3,374.8 | 280.9 | 319.8 | 1,268.0 | 1,296.9 | 319.7 | 405.3 |
Operating Profit | - 45.4 | - 690.5 | - 38.2 | - 467.5 | - 8.5 | 11.2 | 74.0 | 65.5 | 45.4 | 55.4 |
Change | - 645.1 billion yen | - 429.3 billion yen | + 19.7 billion yen | - 11.5% | + 22.0% | |||||
Twelve Months | Japan | North America | Europe | Asia | Other Regions | |||||
2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | |
Sales Revenue | 5,584.5 | 5,449.2 | 13,108.2 | 12,881.9 | 946.2 | 1,015.5 | 4,896.3 | 4,880.4 | 1,226.2 | 1,432.3 |
Operating Profit | 191.1 | - 765.0 | 435.2 | - 227.3 | 5.3 | 15.8 | 408.2 | 352.5 | 177.8 | 214.0 |
Change | - 956.1 billion yen | - 662.5 billion yen | + 197.5% | - 13.6% | + 20.3% | |||||
25
Yen (billion)
25
Three Months / Twelve Months Ended March 31, 2026:
Sales Revenue/Operating Profit by Geographical Segment
26
Three Months / Twelve Months Ended March 31, 2026: Capital Expenditures/Depreciation and Amortization/R&D Expend | iture | |||||||||||
Yen (billion) | Three Months Ended March 31 | Fiscal Year Ended March 31 | ||||||||||
2025 Results | 2026 Results | Change | 2025 Resul | ts | 2026 Results | Change | ||||||
Capital expenditures | 216.5 | 360.2 | + 143.6 | 53 | 7.4 | 751.3 | + 213.9 | |||||
Depreciation and amortization | 115.3 | 94.3 | - 21.0 | 45 | 6.1 | 410.2 | - 45.8 | |||||
Research and development expenditures | 404.7 | 410.1 | + 5.3 | 1,2 | 10.6 | 1,174.8 | - 35.7 | |||||
26 | ||||||||||||
FYE March 31,2026: Consolidated Statements of Financial Position Divided into Non-financial Services Businesses and Finance Subsidiaries
Yen (billion)
Assets
FYE March 31,
2025
FYE March 31,
2026
Liabilities and Equity
FYE March 31,
2025
FYE March 31,
2026
Cash and cash equivalents | 3,861.7 | 4,563.4 | Trade payables | 1,591.0 | 1,664.5 | |
Trade receivables | 1,180.1 | 1,285.0 | Financing liabilities | 645.8 | 1,238.8 | |
Inventories | 2,464.7 | 2,522.2 | Other liabilities | 3,751.2 | 4,864.2 |
Investments accounted for using the equity method
Property, plant and equipment Other assets
Non-financial Services Businesses
Cash and cash equivalents
Receivables from financial services
Equipment on operating leases
Other assets
Finance Subsidiaries Reconciling items Total assets
1,242.6
3,196.0
4,046.9
15,992.2
667.0
8,930.6
5,748.1
367.4
15,713.3
- 929.7
30,775.8
1,128.1
3,183.2
4,433.6
17,115.8
503.3
9,895.6
6,433.7
449.7
17,282.5
-889.1
33,509.2
Non-financial Services Businesses
Financing liabilities Other liabilities Finance Subsidiaries Reconciling items
Total liabilities
Non-financial Services Businesses equity
Finance Subsidiaries equity Reconciling items
Total equity
Total liabilities and equity
5,988.3
11,085.5
1,649.8
12,735.4
- 575.7
18,148.0
10,003.9
2,977.8
- 353.9
12,627.8
30,775.8
7,767.7
12,252.6
1,847.4
14,100.1
-506.7
21,361.2
9,348.0
3,182.4
-382.4
12,148.0
33,509.2
27
27
Segment Information | QTD | ||||||||||
FYE March 31, 2025 | FYE March 31, 2026 | Change | Change (%) | ||||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | ||||
Sales Revenue | |||||||||||
Motorcycle Business | 937.6 | 873.0 | 896.2 | 919.6 | 951.5 | 969.1 | 1,012.9 | 1,085.1 | + 165.5 | + 18.0% | |
Automobile Business | 3,504.5 | 3,625.9 | 3,768.0 | 3,569.2 | 3,543.9 | 3,456.3 | 3,434.5 | 3,732.0 | + 162.8 | + 4.6% | |
Financial Services Business | 939.3 | 875.1 | 848.6 | 849.0 | 832.6 | 846.1 | 879.0 | 974.8 | + 125.8 | + 14.8% | |
PP & Other Businesses | 104.8 | 98.3 | 98.0 | 113.2 | 92.8 | 100.3 | 97.5 | 129.6 | + 16.3 | + 14.5% | |
Reconciling items | - 81.6 | - 79.8 | - 79.9 | - 91.1 | - 80.6 | - 79.6 | - 81.1 | -100.8 | - 9.6 | - | |
Total | 5,404.8 | 5,392.7 | 5,531.1 | 5,360.0 | 5,340.2 | 5,292.4 | 5,342.9 | 5,820.9 | + 460.9 | + 8.6% | |
Operating Profit | |||||||||||
Motorcycle Business | 177.6 | 148.2 | 175.8 | 161.7 | 189.0 | 179.2 | 178.2 | 185.3 | + 23.5 | + 14.6% | |
Automobile Business | 222.8 | 35.1 | 144.5 | - 158.7 | - 29.6 | - 43.4 | - 93.4 | - 1,244.6 | - 1,085.8 | - | |
Financial Services Business | 84.9 | 77.7 | 82.2 | 70.6 | 85.0 | 58.2 | 74.7 | 57.5 | - 13.1 | - 18.6% | |
PP & Other Businesses | - 0.7 | - 3.2 | - 5.3 | - 0.0 | - 0.2 | - 0.0 | - 6.2 | - 4.0 | - 4.0 | - | |
Total | 484.7 | 257.9 | 397.3 | 73.5 | 244.1 | 193.9 | 153.3 | - 1,005.8 | - 1,079.4 | - | |
Operating profit from aircraft and aircraft engines | - 9.7 | - 9.3 | - 9.3 | - 10.5 | - 8.3 | - 8.4 | - 9.0 | - 11.3 | - 0.8 | - | |
YTD (FYE March 31) | |||
2025 | 2026 | Change | Change (%) |
Results | Results | ||
3,626.6 | 4,018.8 | + 392.2 | + 10.8% |
14,467.8 | 14,166.9 | - 300.9 | - 2.1% |
3,512.2 | 3,532.7 | + 20.5 | + 0.6% |
414.6 | 420.3 | + 5.7 | + 1.4% |
- 332.5 | - 342.2 | - 9.7 | - |
21,688.7 | 21,796.6 | + 107.8 | + 0.5% |
663.4 | 731.9 | + 68.4 | + 10.3% |
243.8 | -1,411.1 | - 1,654.9 | - |
315.6 | 275.5 | - 40.1 | - 12.7% |
- 9.4 | - 10.6 | - 1.2 | - |
1,213.4 | -414.3 | - 1,627.8 | - |
- 38.8 | - 37.2 | + 1.6 | - |
28
Sales Revenue/Operating Profit by Business Segment
Yen(billion)
28
Honda Group Unit Sales | QTD | |||||||||
FYE March 31, 2025 | FYE March 31, 2026 | Change | ||||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | |||
Motorcycles | 5,062 | 5,320 | 5,126 | 5,064 | 5,143 | 5,620 | 5,677 | 5,661 | + 597 | |
Japan | 50 | 50 | 58 | 66 | 59 | 53 | 50 | 43 | - 23 | |
North America | 132 | 137 | 144 | 135 | 142 | 131 | 131 | 134 | - 1 | |
Europe | 138 | 127 | 96 | 114 | 122 | 103 | 75 | 107 | - 7 | |
Asia | 4,275 | 4,586 | 4,355 | 4,262 | 4,284 | 4,784 | 4,841 | 4,829 | + 567 | |
Other Regions | 467 | 420 | 473 | 487 | 536 | 549 | 580 | 548 | + 61 | |
Automobiles | 869 | 910 | 1,038 | 899 | 839 | 841 | 881 | 826 | - 73 | |
Japan | 141 | 161 | 159 | 169 | 124 | 156 | 152 | 173 | + 4 | |
North America | 406 | 430 | 435 | 383 | 457 | 399 | 355 | 394 | + 11 | |
Europe | 23 | 25 | 17 | 28 | 17 | 26 | 18 | 29 | + 1 | |
Asia | 264 | 257 | 383 | 278 | 202 | 222 | 315 | 190 | - 88 | |
Other Regions | 35 | 37 | 44 | 41 | 39 | 38 | 41 | 40 | - 1 | |
Power Products | 822 | 831 | 863 | 1,184 | 828 | 871 | 808 | 1,082 | - 102 | |
Japan | 46 | 78 | 65 | 89 | 62 | 90 | 58 | 90 | + 1 | |
North America | 270 | 212 | 219 | 319 | 232 | 241 | 196 | 258 | - 61 | |
Europe | 134 | 118 | 115 | 284 | 179 | 133 | 124 | 276 | - 8 | |
Asia | 301 | 351 | 364 | 397 | 279 | 321 | 334 | 361 | - 36 | |
Other Regions | 71 | 72 | 100 | 95 | 76 | 86 | 96 | 97 | + 2 | |
YTD (FYE March 31) | ||
2025 Results | 2026 Results | Change |
20,572 | 22,101 | + 1,529 |
224 | 205 | - 19 |
548 | 538 | - 10 |
475 | 407 | - 68 |
17,478 | 18,738 | + 1,260 |
1,847 | 2,213 | + 366 |
3,716 | 3,387 | - 329 |
630 | 605 | - 25 |
1,654 | 1,605 | - 49 |
93 | 90 | - 3 |
1,182 | 929 | - 253 |
157 | 158 | + 1 |
3,700 | 3,589 | - 111 |
278 | 300 | + 22 |
1,020 | 927 | - 93 |
651 | 712 | + 61 |
1,413 | 1,295 | - 118 |
338 | 355 | + 17 |
FYE March 31 | ||
2026 Results | 2027 Forecast | Change |
22,101 | 22,800 | + 699 |
205 | 160 | - 45 |
538 | 610 | + 72 |
407 | 440 | + 33 |
18,738 | 19,220 | + 482 |
2,213 | 2,370 | + 157 |
3,387 | 3,390 | + 3 |
605 | 600 | - 5 |
1,605 | 1,705 | + 100 |
90 | 95 | + 5 |
929 | 815 | - 114 |
158 | 175 | + 17 |
3,589 | 3,650 | + 61 |
300 | 275 | - 25 |
927 | 955 | + 28 |
712 | 715 | + 3 |
1,295 | 1,340 | + 45 |
355 | 365 | + 10 |
Motorcycles | 3,450 | 3,510 | 3,438 | 3,287 | 3,465 | 3,643 | 3,789 | 3,776 | + 489 | |
Japan | 50 | 50 | 58 | 66 | 59 | 53 | 50 | 43 | - 23 | |
North America | 132 | 137 | 144 | 135 | 142 | 131 | 131 | 134 | - 1 | |
Europe | 138 | 127 | 96 | 114 | 122 | 103 | 75 | 107 | - 7 | |
Asia | 2,663 | 2,776 | 2,667 | 2,485 | 2,606 | 2,807 | 2,953 | 2,944 | + 459 | |
Other Regions | 467 | 420 | 473 | 487 | 536 | 549 | 580 | 548 | + 61 | |
Automobiles | 672 | 724 | 737 | 707 | 685 | 677 | 645 | 704 | - 3 | |
Japan | 120 | 139 | 138 | 142 | 103 | 135 | 130 | 147 | + 5 | |
North America | 406 | 430 | 435 | 383 | 457 | 399 | 355 | 394 | + 11 | |
Europe | 23 | 25 | 17 | 28 | 17 | 26 | 18 | 29 | + 1 | |
Asia | 88 | 93 | 103 | 113 | 69 | 79 | 101 | 94 | - 19 | |
Other Regions | 35 | 37 | 44 | 41 | 39 | 38 | 41 | 40 | - 1 | |
Power Products | 822 | 831 | 863 | 1,184 | 828 | 871 | 808 | 1,082 | - 102 | |
Japan | 46 | 78 | 65 | 89 | 62 | 90 | 58 | 90 | + 1 | |
North America | 270 | 212 | 219 | 319 | 232 | 241 | 196 | 258 | - 61 | |
Europe | 134 | 118 | 115 | 284 | 179 | 133 | 124 | 276 | - 8 | |
Asia | 301 | 351 | 364 | 397 | 279 | 321 | 334 | 361 | - 36 | |
Other Regions | 71 | 72 | 100 | 95 | 76 | 86 | 96 | 97 | + 2 | |
13,685 | 14,673 | + 988 |
224 | 205 | - 19 |
548 | 538 | - 10 |
475 | 407 | - 68 |
10,591 | 11,310 | + 719 |
1,847 | 2,213 | + 366 |
2,840 | 2,711 | - 129 |
539 | 515 | - 24 |
1,654 | 1,605 | - 49 |
93 | 90 | - 3 |
397 | 343 | - 54 |
157 | 158 | + 1 |
3,700 | 3,589 | - 111 |
278 | 300 | + 22 |
1,020 | 927 | - 93 |
651 | 712 | + 61 |
1,413 | 1,295 | - 118 |
338 | 355 | + 17 |
14,673 | 15,190 | + 517 |
205 | 160 | - 45 |
538 | 610 | + 72 |
407 | 440 | + 33 |
11,310 | 11,610 | + 300 |
2,213 | 2,370 | + 157 |
2,711 | 2,820 | + 109 |
515 | 505 | - 10 |
1,605 | 1,705 | + 100 |
90 | 95 | + 5 |
343 | 340 | - 3 |
158 | 175 | + 17 |
3,589 | 3,650 | + 61 |
300 | 275 | - 25 |
927 | 955 | + 28 |
712 | 715 | + 3 |
1,295 | 1,340 | + 45 |
355 | 365 | + 10 |
29
Honda Group Unit Sales/Consolidated Unit Sales
Unit (thousand)
Consolidated Unit Sales
29
Electrified Automobile Retail Sales* | QTD | |||||||||
FYE March 31, 2025 | FYE March 31, 2026 | Change | ||||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | |||
Global | ||||||||||
HEV | 204 | 217 | 231 | 246 | 225 | 229 | 230 | 245 | - 1 | |
PHEV | 4 | 5 | 5 | 3 | 3 | 3 | 2 | 3 | - 0 | |
EV | 6 | 22 | 30 | 19 | 18 | 32 | 15 | 9 | - 10 | |
FCEV | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - 0 | |
Excluding China | ||||||||||
HEV | 178 | 195 | 205 | 230 | 206 | 215 | 214 | 234 | + 4 | |
PHEV | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | + 0 | |
EV | 4 | 18 | 27 | 17 | 15 | 27 | 8 | 8 | - 9 | |
FCEV | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - 0 | |
YTD (FYE March 31) | ||
2025 Results | 2026 Results | Change |
898 | 929 | + 31 |
17 | 11 | - 6 |
77 | 73 | - 4 |
0 | 0 | + 0 |
808 | 870 | + 62 |
3 | 4 | + 1 |
67 | 57 | - 10 |
0 | 0 | + 0 |
30
Electrified Automobile Retail Sales per Power Trains
Unit (thousand)
* Figures are based on information available at the time of Financial Results.
30
Honda's Proprietary Metrics | |||||||
【Adjusted profit】 Operating profit excluding one-time special factors, such as losses resulting from the review of ou electrification strategy Adjusted operating profit＝Operating profit ーEV-related losses 【EV-related losses】 Yen (billion) | r automobile | ||||||
FYE March 31, 2026 | FYE March 31, 2027 Forecast | ||||||
Operating profit | Disposal and impairment of development assets/equipment | - 643.9 | - | ||||
Incremental expenses related to strategy change | - 542.6 | - 500.0 | |||||
Cumulative EV-related losses through Q3 | - 267.1 | ー | |||||
Subtotal | - 1,453.6 | - 500.0 | |||||
Share of profit (loss) of investments accounted for using the equity method | - 124.1 | - | |||||
Total | - 1,577.8 | - 500.0 | |||||
31 | |||||||
31