Honda Motor : FY2022 1st Quarter Financial Results Reference Materials

August 4, 2021

Honda Motor Co., Ltd.

CONSOLIDATED FINANCIAL SUMMARY 1

FOR THE FISCAL FIRST QUARTER ENDED JUNE 30, 2021

Sales revenue Breakdown by geographical markets based on the location of the external customers

Yen (millions)		First Quarter Results
		3 months	3 months
		ended	ended
		Jun. 30, 2020	Jun. 30, 2021	change	%
Total	2,123,775	3,583,870	1,460,095	68.7
	Japan	406,277	470,510	64,233	15.8
	North America	1,061,781	1,986,698	924,917	87.1
	Europe	91,941	171,676	79,735	86.7
	Asia	498,571	804,210	305,639	61.3
	Other Regions	65,205	150,776	85,571	131.2
Motorcycle Business	274,222	518,203	243,981	89.0
	Japan	19,353	26,210	6,857	35.4
	North America	45,519	55,776	10,257	22.5
	Europe	34,767	66,078	31,311	90.1
	Asia	147,500	291,024	143,524	97.3
	Other Regions	27,083	79,115	52,032	192.1
Automobile Business	1,209,923	2,206,436	996,513	82.4
	Japan	284,084	322,045	37,961	13.4
	North America	514,445	1,241,448	727,003	141.3
	Europe	42,611	85,337	42,726	100.3
	Asia	338,093	495,700	157,607	46.6
	Other Regions	30,690	61,906	31,216	101.7
Financial Services Business	575,834	766,572	190,738	33.1
	Japan	92,496	107,269	14,773	16.0
	North America	472,868	648,259	175,391	37.1
	Europe	2,635	2,642	7	0.3
	Asia	3,282	4,133	851	25.9
	Other Regions	4,553	4,269	(284)	(6.2)
Life Creation and	63,796	92,659	28,863	45.2
Other Businesses
	Japan	10,344	14,986	4,642	44.9
	North America	28,949	41,215	12,266	42.4
	Europe	11,928	17,619	5,691	47.7
	Asia	9,696	13,353	3,657	37.7
	Other Regions	2,879	5,486	2,607	90.6

Note:

For detailed information of principal products and services, and functions of each segment, please refer to [6] Notes to Consolidated Financial Statements, [A] Segment Information in Fiscal First Quarter Financial Results.

August 4, 2021

Honda Motor Co., Ltd.

CONSOLIDATED FINANCIAL SUMMARY 2

FOR THE FISCAL FIRST QUARTER ENDED JUNE 30, 2021

Unaudited Consolidated Statements of Financial Position

Divided into Non-financial Services Businesses and Finance Subsidiaries

				Yen (millions)
				Mar. 31, 2021		Jun. 30, 2021
Assets
	< Non-financial Services Businesses >
		Current assets:	5,506,377		5,359,567
			Cash and cash equivalents	2,528,369		2,297,818
			Trade receivables	804,496		709,309
			Inventories	1,539,248		1,733,077
			Other current assets	634,264		619,363
		Non-current assets:	6,023,053		6,179,681
			Investments accounted for using the equity method	891,002		960,595
			Property, plant and equipment	3,007,119		2,973,544
			Intangible assets	807,847		808,892
			Other non-current assets	1,317,085		1,436,650
		Total assets	11,529,430		11,539,248
	< Finance Subsidiaries >
		Cash and cash equivalents	229,651		205,636
		Receivables from financial services, current	1,795,708		1,673,600
		Receivables from financial services, non-current	3,619,896		3,734,419
		Equipment on operating leases	4,919,916		5,018,034
		Other assets	267,474		230,705
		Total assets	10,832,645		10,862,394
	Reconciling items	(441,045)		(418,806)
Total assets	21,921,030		21,982,836
Liabilities and Equity
	< Non-financial Services Businesses >
		Current liabilities:	2,780,197		2,576,064
			Trade payables	1,075,477		1,005,117
			Financing liabilities	329,342		318,937
			Other current liabilities	1,375,378		1,252,010
		Non-current liabilities:	1,450,048		1,503,015
			Financing liabilities	150,665		149,901
			Retirement benefit liabilities	349,994		357,699
			Other non-current liabilities	949,389		995,415
		Total liabilities	4,230,245		4,079,079
	< Finance Subsidiaries >
		Financing liabilities, current	2,683,526		2,954,657
		Financing liabilities, non-current	4,564,696		4,303,394
		Other liabilities	1,233,621		1,181,610
		Total liabilities	8,481,843		8,439,661
	Reconciling items	(163,897)		(140,123)
	Total liabilities	12,548,191		12,378,617
	Equity attributable to owners of the parent	9,082,306		9,325,398
	Non-controlling interests	290,533		278,821
	Total equity	9,372,839		9,604,219
Total liabilities and equity	21,921,030		21,982,836

August 4, 2021

Honda Motor Co., Ltd.

CONSOLIDATED FINANCIAL SUMMARY 3

FOR THE FISCAL FIRST QUARTER ENDED JUNE 30, 2021

Unaudited Consolidated Statements of Cash Flows

Divided into Non-financial Services Businesses and Finance Subsidiaries

				Yen (millions)
	For the three months ended Jun. 30, 2020	For the three months ended Jun. 30, 2021
	Non-financial	Finance	Reconciling		Non-financial	Finance	Reconciling
	Services	Consolidated	Services	Consolidated
	Businesses	Subsidiaries	Items		Businesses	Subsidiaries	Items
Cash flows from operating activities:
Profit (loss) before income taxes	(147,848)	74,428	(13)	(73,433)	209,461	103,961	(2,062)	311,360
Depreciation, amortization and impairment losses	148,378	1,041	－	149,419	150,065	1,226	－	151,291
excluding equipment on operating leases
Share of profit of investments accounted for	(39,994)	－	－	(39,994)	(55,931)	－	－	(55,931)
using the equity method
Decrease (increase) in trade receivables	25,238	(6,848)	15,156	33,546	100,327	2,582	(1,409)	101,500
Decrease (increase) in inventories	(90,065)	(1,881)	－	(91,946)	(182,122)	3,296	－	(178,826)
Increase (decrease) in trade payables	(130,047)	(2,916)	(1,813)	(134,776)	(69,355)	1,649	141	(67,565)
Decrease (increase) in receivables from financial services	－	199,108	86	199,194	－	21,826	(28)	21,798
Decrease (increase) in equipment on operating leases	－	16,833	－	16,833	－	(92,131)	－	(92,131)
Dividends received	5,468	13	(13)	5,468	24,023	－	(2,062)	21,961
Other, net	(126,409)	3,429	(13,099)	(136,079)	(146,527)	(63,048)	3,371	(206,204)
Net cash provided by (used in) operating activities	(355,279)	283,207	304	(71,768)	29,941	(20,639)	(2,049)	7,253
Cash flows from investing activities:
Payments for additions to property, plant and equipment	(84,131)	41	－	(84,090)	(80,168)	(142)	－	(80,310)
Payments for additions to and internally developed	(49,162)	(989)	－	(50,151)	(40,518)	(508)	－	(41,026)
intangible assets
* Decrease (increase) in other financial assets	41,012	(2,287)	(19,265)	19,460	(13,714)	1,361	224	(12,129)
Other, net	5,266	195	－	5,461	4,882	(133)	－	4,749
Net cash provided by (used in) investing activities	(87,015)	(3,040)	(19,265)	(109,320)	(129,518)	578	224	(128,716)
Cash flows from financing activities:
* Proceeds from (repayment of) short-term	304,902	(163,764)	18,916	160,054	(13,308)	53,696	(237)	40,151
financing liabilities
* Proceeds from long-term financing liabilities	(39)	405,043	－	405,004	303	288,841	－	289,144
* Repayments of long-term financing liabilities	(2,838)	(373,982)	32	(376,788)	(1,792)	(346,213)	－	(348,005)
Dividends paid to owners of the parent	(48,363)	－	－	(48,363)	(93,272)	－	－	(93,272)
Other, net	(27,673)	(345)	13	(28,005)	(28,690)	(2,289)	2,062	(28,917)
Net cash provided by (used in) financing activities	225,989	(133,048)	18,961	111,902	(136,759)	(5,965)	1,825	(140,899)
Effect of exchange rate changes on cash and	4,617	(24)	－	4,593	5,785	2,011	－	7,796
cash equivalents
Net change in cash and cash equivalents	(211,688)	147,095	－	(64,593)	(230,551)	(24,015)	－	(254,566)
Cash and cash equivalents at beginning of period	2,462,679	209,674	－	2,672,353	2,528,369	229,651	－	2,758,020
Cash and cash equivalents at end of period	2,250,991	356,769	－	2,607,760	2,297,818	205,636	－	2,503,454

Note:

Non-financial services businesses provide loans to finance subsidiaries. These cash flows are included in the decrease (increase) in other financial assets, proceeds from (repayment of) short-term financing liabilities, proceeds from and repayments of long-term financing liabilities (marked by *). The amount of the loans to finance subsidiaries is a JPY 19,265 million decrease for the fiscal three months ended June 30, 2020, and a JPY 224 million increase for the fiscal three months ended June 30, 2021, respectively.