Consolidated Financial Summary for the Fiscal 1st Quarter Ended June 30, 2008
Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal first quarter ended June 30, 2008.
Consolidated net sales and other operating revenue amounted to JPY 2,867.2 billion, a decrease of 2.2% due to factors including the negative currency transaction effect.
Consolidated operating income, which amounted to JPY 221.3 billion, remained at approximately the same level compared to the same quarter a year ago, due to a decrease in incentives for automobile business in North America, increased profit mostly from increased automobile unit sales, and cost reduction efforts, despite the negative impact of exchange rates, the impact of increased raw material costs, and increases in selling, general and administrative (SG&A) expenses.
Honda set an all-time record for the first quarter for income before income taxes and net income as well as an all-time record for any quarter for equity in income of affiliates.
At the board of directors meeting held today, Honda resolved to pay JPY 22 per share for the fiscal first quarter dividend with the record date of June 30, 2008. The total dividend to be paid for the entire fiscal year is expected to be JPY 88 per share.
Source: http://world.honda.com/news/2008/4080722British-International-Motor-Show/