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Honda Motor fiscal Q4 profit falls YOY

Honda Motor Co., Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥38.61 per share, a decrease of 57.0% from ¥89.68 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥69.58 billion, a decrease of 57.0% from ¥161.63 billion in the year-earlier period.

The normalized profit margin dropped to 1.7% from 4.3% in the year-earlier period.

Total revenue grew 7.3% year over year to ¥4.035 trillion from ¥3.761 trillion, and total operating expenses climbed 10.9% year over year to ¥3.904 trillion from ¥3.522 trillion.

Reported net income fell 61.8% from the prior-year period to ¥84.51 billion, or ¥46.89 per share, from ¥221.10 billion, or ¥122.68 per share.

For the year, the company's normalized net income totaled ¥250.92 per share, compared to ¥300.99 per share in the prior year.

Normalized net income was ¥452.23 billion, a fall from ¥542.48 billion in the prior year.

Full-year total revenue increased year over year to ¥13.328 trillion from ¥12.506 trillion, and total operating expenses rose year over year to ¥12.657 trillion from ¥11.682 trillion.

The company said reported net income fell year over year to ¥509.44 billion, or ¥282.66 per share, in the full year, from ¥624.70 billion, or ¥346.62 per share.

As of June 26, US$1 was equivalent to ¥123.96.