Company Profile

Comparative Business Analysis

Sales Analysis

Price Analysis

Earnings and Dividends Analysis

The Analysis is Reported in: U.S. Dollars.

Company Profile - Honda Motor Co., Ltd.

Exchanges: ( NYSE GVA LON OSA PAR TYO OTH ZHR: 7267) Key Company Data
Wright Quality Rating: AAB10 Ticker:
7267
Honda Motor Co., Ltd.. The Group's principal activity is to
manufacture automobiles, motorcycles and power products. The Group 2009 Sales:
develops and manufactures a wide variety of products, ranging from 108,519,240,000
small general-purpose engines to specialty sports cars. The Group also
provides financing services for the sale of its motorcycles, automobiles Major Industry:
and power products. The Group operates in the following four Automotive
segments: Motorcycle business, Automobile business, Financial
services, and Power product and other businesses. The Group's major Sub Industry:
trademarks include HONDA, ACURA, ACCORD, CIVIC, FIT, Diversified
ODYSSEY, CR-V, PILOT, MOBILIO, ELEMENT, STEP WGN, Automotive Mfrs.
MDX, STREAM, LIFE, ACTY, VAMOS, THAT'S, CUB, WAVE and
GOLD WING. Country:
Japan
Stock Chart
Currency:
U.S. Dollars

Fiscal Year Ends:

March

Employees:
181,876

Exchanges:
NYSE GVA LON
OSA PAR TYO OTH
 ZHR

Share Type:
Common

Market
Capitalization:
64,223,748,000

Total Share
Outstanding:
1,814,600,000

Closely Held Share:

405,340,000

Stock Price (26-MAR-10): 35.39

Recent Stock Performance Ratio Analysis
1 Week .2% Price / Earning Ratio 589.35
4 Week 6.0% Price / Sales Ratio 0.59
13 Week 5.3% Price / Book Ratio 1.47
52 Week 32.5% Dividend Yield 1.07
Payout Ratio 631.77
% Closely Held 22.34
Earnings / Dividends
  Earnings Dividends
Most Recent Quarter 0.80 0.09
Last 12 Months 0.06 0.38
Officers
Chairman: Satoshi Aoki (Rep)
President: Takeo Fukui (Rep)
Executive Vice President: Koichi Kondo
Address Information
Address: 1-1 Minamiaoyama 2-Chome
Minato-Ku 107-8556 Tokyo 107-8556
Japan
Phone Number: +81 3 3423 1111
Homepage: [Link]
Summary Analysis – Per Share   Honda Motor Co., Ltd.
Year Price Value Ratios Equity Capital Earnings Dividends
Fisca 12 12
l Yr Price % % Book Month Month
Ends Marke Price/ / Earne Profit Valu Earning % Dividen
: t Earning Book Dividen d Rate e s % Payou ds
MA Price s Rati d Growt (ROE Begi Per Chang t Per
R Last Ratio o Yield h ) n Yr Share e Ratio Share
2000 22.98 15.7 2.3 0.5% 13.6% 14.9% 9.81 U 1.460 -14.0% 8.5% 0.12
2001 27.75 21.5 2.6 0.4% 10.9% 12.0% 10.74 U 1.292 -11.5% 9.6% 0.12
GU
2002 29.16 14.5 2.4 0.5% 15.0% 16.3% 12.40 56.2% 7.5% 0.15
2.017
GU
2003 21.41 9.0 1.5 0.8% 15.4% 16.6% 14.32 18.1% 7.3% 0.17
2.382
2004 26.02 9.9 1.8 0.9% 16.3% 17.8% 14.82 U 2.640 10.8% 8.6% 0.23
2005 29.11 10.3 1.8 1.2% 14.9% 17.0% 16.55 U 2.822 6.9% 12.5% 0.35
BU
2006 39.51 11.2 2.1 1.4% 15.4% 18.2% 19.27 24.6% 15.4% 0.54
3.515
2007 44.55 12.7 1.8 1.6% 11.4% 14.4% 24.49 U 3.519 0.1% 20.6% A 0.73
2008 30.84 8.6 1.2 3.0% 9.9% 13.4% 26.67 U 3.583 1.8% 26.0% 0.93
BU
2009 25.09 30.7 0.9 2.7% 0.5% 3.0% 27.14 -77.2% 83.4% 0.68
0.818
2010 n/a n/c n/c 0 n/c n/c 23.93 n/a n/c n/c 0.00
A: ALL ITEMS ADJUSTED FOR STOCK SPLITS OR DIVIDENDS

2:1 ON 06/27/2006
B: INCLUDES OR EXCLUDES EXTRAORDINARY CHARGE OR CREDIT

- INCLS 74.98 PRETAX CR IN MAR 2006

- INCLS 11.47 PRETAX CHG IN FIS 2009
G: INCLUDES THE EFFECTS OF A CHANGE IN ACCOUNTING POLICIES OR TAX
LAWS
- ADOPTED SFAS 133 AND138 FOR ACCOUNTING DERIVATIVE INSTRUMENTS AND
HEDGIG ACTIVITIES IN FIS 2002
- ADOPTED SFAS 146 FOR COSTS ACCOCIATED WITH EXIT OR DISPOSAL
ACTIVITIES & FASB 45 FOR GUARANTOR'S ACCOUNTING & DISCLOSURE
REQUIREMENTS FOR GUARANTEES, INCLUDING INDIRECT GUARANTEES OF
INDEBTEDNESS TO OTHERS, AN INTERPRETATION OF FASB STATEMENTS NO 5,
57 & 107 & A RESCISSION OF FASB INTERPRETATION NO 34 FIS 2003, EARNINGS
IMPACT IMMATERIAL IN BOTH THE CASES
U: BASED ON AVERAGE SHARES OUTSTANDING

- FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED MAR 2001 WERE 238.34
 - FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED MAR 2005 WERE 260.34
- FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED MAR 2006 WERE 324.34
- FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED MAR 2007 WERE 324.62

Comparative Business Analysis - Honda Motor Co., Ltd.

  BASIC Wright Comparative Business Analysis

INFORMATION
Report
Ticker:
7267 Report Date: 3/12/2010

2009 Sales: Company Description

10,011,241,000,00
0 Honda Motor Co., Ltd.. The Group's principal activity is to
manufacture automobiles, motorcycles and power products. The
Primary SIC: Group develops and manufactures a wide variety of products,
Motor vehicles and ranging from small general-purpose engines to specialty sports
car bodies (3711) cars. The Group also provides financing services for the sale of its
motorcycles, automobiles and power products. The Group
Sector: operates in the following four segments: Motorcycle business,
Consumer Automobile business, Financial services, and Power product and
Discretionary other businesses. The Group's major trademarks include HONDA,
ACURA, ACCORD, CIVIC, FIT, ODYSSEY, CR-V, PILOT, MOBILIO,
Industry: ELEMENT, STEP WGN, MDX, STREAM, LIFE, ACTY, VAMOS,
Automobiles & THAT'S, CUB, WAVE and GOLD WING.
Components
Competitor Analysis
Country:
Japan Honda Motor Co., Ltd. operates in the Motor vehicles and car
bodies sector. This analysis compares Honda Motor Co., Ltd. with
Currency: three other automobile manufacturers in Asia: Nissan Motor Co
Japanese Yen Ltd (2009 sales of 8.44 trillion Japanese Yen [US$93.23 billion]
of which 92% was Automobiles), Mitsubishi Motors
Fiscal Year ends: Corporation (1.97 trillion Japanese Yen [US$21.81 billion] of
March which 99% was Automobile), and Mazda Motor Corporation
(2.54 trillion Japanese Yen [US$28.02 billion] of which 74% was
Employees: Vehicles).
181,876
Sales Analysis
Exchanges:
NYSE GVA LON OSA Honda Motor Co., Ltd. reported sales of ¥10.01 trillion
PAR TYO OTH ZHR (US$110.62 billion) for the fiscal year ending March of 2009. This
represents a decrease of 16.6% versus 2008, when the
company's sales were ¥12.00 trillion. Contributing to the drop in
Share Type: overall sales was the 19.1% decline in Automobile Business, from
Common ¥9.49 trillion to ¥7.67 trillion. There were also decreases in sales
in Motorcycle Business (down 9.4% to ¥1.41 trillion) . However,
Market these declines were partially offset by the increase in sales of
Capitalization: Financial Services (up 9.1% to ¥582.26 billion) .
6,054,933,819,000 Recent Sales at Honda Motor Co., Ltd.
12
11
Total Shares 10 10
9
Outstanding: 8
1,834,828,430

Closely Held
Shares:
405,340,000
200420052006200720082009
(Figures in Trillions of Japanese Yen)
Although Honda Motor Co., Ltd. is headquartered in Japan, it
derives most of its sales outside of its home market: sales in
Japan were ¥1.87 trillion which was only 18.7% of 2009's sales.
On a geographical basis, contributing to the decline in the
company's sales in 2009 were the declines in North America,
where sales dropped 25.6% to ¥4.53 trillion. Sales in Japan were
also lower, falling 8.8% (to ¥1.87 trillion) . However, not all
regions experienced a decline in sales. Sales in Asia increased
2.1% (to ¥1.34 trillion). Sales also increased in Rest of the World
(up 2.8% to ¥1.08 trillion) . While Honda Motor Co., Ltd. and all
three comparable companies experienced declines in sales, the
16.6% drop at Honda Motor Co., Ltd. was not as severe as the
other three companies (which experienced declines between
22.1% and 27.0%). Honda Motor Co., Ltd. currently has 181,876
employees. With sales of ¥10.01 trillion (US$110.62 billion) , this
equates to sales of US$608,240 per employee. This is fairly close
to all three comparable companies, which had sales between
US$581,146 and US$703,145 per employee.
Sales Comparisons (Fiscal Year ending 2009)
Sales/
Sales Sales Emp Largest
Company (trlns) Growth (US$) Region
Honda Motor Co., North America
10.011 -16.6% 608,240
Ltd. (45.3%)
North America
Nissan Motor Co Ltd  8.437 -22.1% 581,146
(35.3%)
Mitsubishi Motors
1.974 -26.4% 683,528 Japan (60.0%)
Corporation 
Mazda Motor
2.536 -27.0% 703,145 Japan (39.0%)
Corporation 

Recent Stock Performance

For the 52 weeks ending 3/12/2010, the stock of this company
was up 48.6% to ¥3,300.00 . During the past 13 weeks, the
stock has increased 9.6%. During the 12 months ending
12/31/2009, earnings per share totalled ¥5.54 per share. Thus,
the Price / Earnings ratio is 595.67. This P/E ratio is very high,
and is therefore not a very useful indicator of company valuation.
These 12 month earnings are substantially lower than the
earnings per share achieved during the last fiscal year of the
company, which ended in March of 2009, when the company
reported earnings of 75.50 per share. Earnings per share fell
77.2% in 2009 from 2008. Note that the earnings number -
includes a 11.47 pre-tax charge in fiscal year 2009. This company
is currently trading at 0.60 times sales. This is at a higher ratio
than all three comparable companies, which are trading between
0.16 and 0.41 times sales. Honda Motor Co., Ltd. is trading at
1.48 times book value.
Summary of company valuations (as of 3/12/2010).
Price/ Price/ 52 Wk
Company P/E Book Sales Pr Chg
Honda Motor Co., Ltd. 595.7 1.48 0.60 48.60%
Nissan Motor Co Ltd   N/A 1.18 0.41 123.39%
Mitsubishi Motors Corporation   N/A N/A 0.34 7.02%
Mazda Motor Corporation   N/A 0.74 0.16 63.64%
The market capitalization of this company is ¥6.05 trillion
(US$66.91 billion) . The capitalization of the floating stock (i.e.,
that which is not closely held) is ¥4.72 trillion (US$52.13 billion) .

Dividend Analysis
During the 12 months ending 12/31/2009, Honda Motor Co., Ltd.
paid dividends totalling ¥35.00 per share. Since the stock is
currently trading at ¥3,300.00 , this implies a dividend yield of
1.1%. The company has paid a dividend for 6 straight years.
During the same 12 month period ended 12/31/2009, the
Company reported earnings of ¥5.54 per share. Thus, the
company is paying out dividends that are higher than the
earnings.
Profitability Analysis

On the ¥10.01 trillion in sales reported by the company in 2009,

the cost of goods sold totalled ¥6.78 trillion, or 67.7% of sales
(i.e., the gross profit was 32.3% of sales). This gross profit
margin is slightly lower than the company achieved in 2008,
when cost of goods sold totalled 66.9% of sales. Honda Motor
Co., Ltd.'s 2009 gross profit margin of 32.3% was better than all
three comparable companies (which had gross profits in 2009
between 19.3% and 23.6% of sales). The company's earnings
before interest, taxes, depreciation and amorization (EBITDA)
were ¥827.29 billion, or 8.3% of sales. This EBITDA margin is
worse than the company achieved in 2008, when the EBITDA
margin was equal to 12.3% of sales. The three comparable
companies had EBITDA margins that were all less (between 1.8%
and 7.4%) than that achieved by Honda Motor Co., Ltd.. In 2009,
earnings before extraordinary items at Honda Motor Co., Ltd.
were ¥137.01 billion, or 1.4% of sales. This profit margin is lower
than the level the company achieved in 2008, when the profit
margin was 5.0% of sales. The company's return on equity in
2009 was 3.0%. This was significantly worse than the 13.4%
return the company achieved in 2008. (Extraordinary items have
been excluded).
Profitability Comparison
Gross Earns
Profit EBITDA bef.
Company Year Margin Margin extra
Honda Motor Co., Ltd. 2009 32.3% 8.3% 1.4%
Honda Motor Co., Ltd. 2008 33.1% 12.3% 5.0%
Nissan Motor Co Ltd 2009 23.6% 7.4% -2.8%
Mitsubishi Motors Corporation 2009 19.3% 4.5% -2.8%
Mazda Motor Corporation 2009 23.2% 1.8% -2.8%
Honda Motor Co., Ltd. reports profits by product line. During
2009, the itemized operating profits at all divisions were ¥189.64
billion, which is equal to 1.9% of total sales. Of all the product
lines, Financial Services had the highest operating profits in 2009,
with operating profits equal to 13.9% of sales. (However,
Financial Services only accounts for 6% of total sales at Honda
Motor Co., Ltd.). In fact, during each of the previous 4 years,
Financial Services has had the highest operating profits of all
product lines at Honda Motor Co., Ltd.. Power Products and Other
had the lowest operating profit margin in 2009, with the
operating profit showing a loss equivalent to 4.5% of sales.

Inventory Analysis

As of March 2009, the value of the company's inventory totalled

¥1.24 trillion. Since the cost of goods sold was ¥6.78 trillion for
the year, the company had 67 days of inventory on hand
(another way to look at this is to say that the company turned
over its inventory 5.5 times per year). This is an increase in days
in inventory from March 2008, when the company had ¥1.20
trillion, which was only 55 days of sales in inventory. The 67 days
in inventory is higher than the three comparable companies,
which had inventories between 40 and 43 days sales at the end
of 2009.

Research and Development

Research and Development Expenses at Honda Motor Co., Ltd. in

2009 were ¥563.20 billion, which is equivalent to 5.6% of sales.
In 2008, Honda Motor Co., Ltd. spent ¥587.96 billion on R&D,
which was 4.9% of sales. The company's expenditures on R&D in
2009 were higher than all three comparable companies (as a
percentage of sales): Nissan Motor Co Ltd spent 5.4% of its sales
on R&D, Mitsubishi Motors Corporation spent 1.8%, and Mazda
Motor Corporation spent 3.8%.

Financial Position

As of March 2009, the company's long term debt was ¥1.93

trillion and total liabilities (i.e., all monies owed) were ¥7.45
trillion. The long term debt to equity ratio of the company is 0.47.
As of March 2009, the accounts receivable for the company were
¥2.03 trillion, which is equivalent to 74 days of sales. This is
slightly higher than at the end of 2008, when Honda Motor Co.,
Ltd. had 72 days of sales in accounts receivable.
Financial Positions
LT Debt/ Days Days R&D/
Company Year Equity AR Inv. Sales
Honda Motor Co., Ltd. 2009 0.47 74 67 5.6%
Nissan Motor Co Ltd 2009 0.91 132 43 5.4%
Mitsubishi Motors
2009 N/A 21 43 1.8%
Corporation
Mazda Motor Corporation 2009 1.37 19 40 3.8%
Note that some of the financial ratios stated within this analysis
may be distorted because of sales in financing, leasing, etc.,
which can distort certain ratios. At Honda Motor Co., Ltd., sales of
Financial Services totalled ¥582.26 billion, which was equal to
5.82% of sales in 2009.
Industry Overview
Copyright 2001-2010 The Winthrop Corporation
 Distributed by Wright Investors' Service, Inc.
All Rights Reserved

Important Legal Notice

THIS REPORT IS PROVIDED FOR GENERAL INFORMATION ONLY, IS NOT TO BE

CONSIDERED AS INVESTMENT ADVICE AND SHOULD NOT BE RELIED UPON FOR
INVESTMENT DECISIONS. NO REPRESENTATION OR WARRANTY IS MADE
REGARDING THE ACCURACY, RELIABILITY OR TIMELINESS OF THE CONTENT.
THE REPORTS ARE COMPUTER GENERATED AND MAY BE SUBJECT TO
PROGRAMMATIC AND/OR CONTENT ERRORS. VISITORS SHOULD VERIFY
INFORMATION WITH OTHER RELIABLE SOURCES.

THIS REPORT IS PROVIDED AS IS, WITHOUT WARRANTY OF ANY KIND, EXPRESS

OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-
INFRINGEMENT. IN NO EVENT WILL THE WINTHROP CORPORATION, WRIGHT
INVESTORS' SERVICE, INC. OR ANY OF THEIR DATA PROVIDERS BE LIABLE FOR
ANY DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES, NO MATTER
WHAT THE CAUSE.

THE CONTENT OF THIS REPORT IS PROTECTED BY APPLICABLE COPYRIGHT

LAWS. CONTENT MAY NOT BE REPRODUCED, DISTRIBUTED, MODIFIED OR
FRAMED WITHOUT PRIOR WRITTEN PERMISSION.

Calendar period for U.S. companies and Fiscal Year for international companies.
Represents gross sales and other operating revenue less discounts, returns and allowances.
Represents ((Current Year’s Net Sales or Revenues / Last Year’s Total Net Sales or Revenues) –
1) * 100
Represent the earnings of a company before interest expense, income taxes and depreciation. It is
calculated by taking the pretax income and adding back interest expense on debt and
depreciation, depletion and amortization and subtracting interest capitalized.
Represents Earnings before Interest, Taxes, Depreciation, and Amortization divided by Sales
Represents income before extraordinary items and preferred and common dividends, but after
operating and non-operating income and expense, reserves, income taxes, minority interest and
equity in earnings.
Represents Income Before Extraordinary Items and Preferred Dividends divided by Sales.
Represents the number of both full and part time employees of the company. It excludes seasonal
and emergency employees.
Represents the Net Sales or Revenues divided by the number of Employees.

Sales Analysis - Honda Motor Co., Ltd.

Figures expressed in millions of U.S. Dollars

 After Tax
Earnings before Income before
Interest, Taxes,
Depreciation, and Extraordinary
Cost of Amortization Charges and
Sales Goods Sold (EBITDA) Credits Employees
Amount Year- Amount Amount Sales
in to-year in % of Amount % of in % of Per
Year millions Growth millions Sales in millions Sales millions Sales Number Employee
2000 66,111 -2.1% 43,725 66.1% 6,487 9.8% 2,845 4.3% 112,400 588,176
2001 70,068 6.0% 47,555 67.9% 6,258 8.9% 2,517 3.6% 114,300 613,015
2002 79,808 13.9% 52,479 65.8% 9,043 11.3% 3,932 4.9% 120,600 661,761
2003 86,411 8.3% 56,252 65.1% 9,868 11.4% 4,625 5.4% 126,900 680,938
2004 88,483 2.4% 58,497 66.1% 8,818 10.0% 5,033 5.7% 131,600 672,360
2005 93,767 6.0% 63,006 67.2% 9,287 9.9% 5,270 5.6% 137,827 680,324
2006 107,403 14.5% 73,149 68.1% 10,766 10.0% 6,472 6.0% 144,785 741,808
2007 120,183 11.9% 81,232 67.6% 13,259 11.0% 6,421 5.3% 167,231 718,665
2008 130,113 8.3% 86,988 66.9% 15,953 12.3% 6,504 5.0% 178,960 727,048
2009 108,519 -16.6% 73,516 67.7% 8,966 8.3% 1,485 1.4% 181,876 596,666
2010 n/a n/c n/a n/a n/a n/a n/a n/a n/a n/a

Quarter (and Year) for which Price information is being reported

Represents the highest price in the Quarter. for companies with more than one type of
common/ordinary share, Market Price – High represents the price of the primary share.
Represents the lowest price in the Quarter. For companies with more than one type of
common/ordinary share, Market Price – Low represents the price of the primary share.
Represents the closing price of the stock at its respective month end. For companies with more
than one type of common/ordinary share, Market Price – Close represents the price of the
primary share.
Represents [(Market Price at Close of Current Quarter divided by Market Price at close of
previous Quarter) – 1] * 100
Represents [(Market Price at Close of Current Quarter divided by Market Price at close of
Quarter one year ago) – 1] * 100

Price Analysis - Honda Motor Co., Ltd.

Figures expressed in U.S. Dollars

High Low Closing Quarterly 12 Month

Quarter Price Price Price %Change %Change
2000 Jan - Mar 23.306 18.320 22.981 11.6% -20.7%
  Apr - Jun 27.100 18.320 19.566 -14.9% -29.6%
  Jul - Sep 23.956 19.946 21.572 10.2% -10.8%
  Oct - Dec 23.631 19.024 23.089 7.0% 12.1%
2001 Jan - Mar 29.051 22.547 27.750 20.2% 20.8%
  Apr - Jun 30.515 25.311 29.702 7.0% 51.8%
  Jul - Sep 32.086 16.748 20.975 -29.4% -2.8%
  Oct - Dec 28.401 20.759 28.347 35.1% 22.8%
2002 Jan - Mar 32.086 26.070 29.160 2.9% 5.1%
  Apr - Jun 32.466 25.095 26.341 -9.7% -11.3%
  Jul - Sep 29.593 25.149 26.721 1.4% 27.4%
  Oct - Dec 28.021 21.626 23.794 -11.0% -16.1%
2003 Jan - Mar 24.444 20.813 21.409 -10.0% -26.6%
  Apr - Jun 25.962 19.349 24.661 15.2% -6.4%
  Jul - Sep 28.184 23.956 24.227 -1.8% -9.3%
  Oct - Dec 25.962 22.168 25.799 6.5% 8.4%
2004 Jan - Mar 27.859 23.306 26.016 0.8% 21.5%
  Apr - Jun 28.834 23.685 28.509 9.6% 15.6%
  Jul - Sep 29.810 28.347 28.943 1.5% 19.5%
  Oct - Dec 29.918 26.179 28.780 -0.6% 11.6%
2005 Jan - Mar 30.894 28.347 29.105 1.1% 11.9%
  Apr - Jun 30.731 27.208 29.647 1.9% 4.0%
  Jul - Sep 32.303 31.707 34.796 17.4% 20.2%
  Oct - Dec 38.699 33.279 36.477 4.8% 26.7%
2006 Jan - Mar 40.650 33.062 39.512 8.3% 35.8%
  Apr - Jun 46.449 35.447 39.349 -0.4% 32.7%
  Jul - Sep 43.685 40.325 43.035 9.4% 23.7%
  Oct - Dec 51.382 42.384 50.948 18.4% 39.7%
2007 Jan - Mar 53.550 43.902 44.552 -12.6% 12.8%
  Apr - Jun 48.997 42.818 48.780 9.5% 24.0%
  Jul - Sep 42.601 37.181 41.842 -14.2% -2.8%
  Oct - Dec 47.696 38.265 40.650 -2.8% -20.2%
2008 Jan - Mar 39.674 28.292 30.840 -24.1% -30.8%
  Apr - Jun 42.384 29.973 39.132 26.9% -19.8%
  Jul - Sep 41.734 32.520 33.496 -14.4% -19.9%
  Oct - Dec 34.580 17.810 20.661 -38.3% -49.2%
 2009 Jan - Mar 27.263 20.162 25.095 21.5% -18.6%
  Apr - Jun 33.279 25.908 28.834 14.9% -26.3%
  Jul - Sep 35.013 28.780 29.973 3.9% -10.5%
  Oct - Dec 34.363 28.076 33.712 12.5% 63.2%
26-MAR-10 35.393 5.3% 32.5%

Calendar period for U.S. companies and Fiscal Year for international companies.
Represents the sum of the interim earnings reported by the company in the latest twelve months.
For companies with more than one type of common/ordinary share, earnings per share is
adjusted to reflect the par value of the share type. Earnings are computed on a calendar year
basis for U.S. companies and a fiscal year basis for international companies
Represents (12 month Dividends Per Share for the Year / 12 month Earnings Per Share for the
Year) * 100
Represents (Earnings Per Share Last 12 Months / Earnings Per Share Prior 12 Month period) *
100. The % change is limited to +/- 100%.
Represents Dividends Per Share Paid out over Last 12 months. U.S. companies are on a Calendar
year basis and international companies are on a Fiscal year basis.
Represents (Dividends Per Share Last 12 Months / Dividends Per Share Prior 12 month period) *
100
Represents the total Earnings reported by the company during the 12 month period.
Represents the total Dividends paid out by the company during the 12 month period.

Earnings and Dividends Analysis - Honda Motor Co., Ltd.

Figures expressed in U.S. Dollars

Quarters are Fiscal Quarters (4th quarter ends in March)

  Earnings Per Share Dividends Per Share

Quarterly
Quarterly Reported Reported %
12 Months Earnings 12 Months Dividends Payout
Fiscal % Q1 Q2 Q3 Q4 % Q1 Q2 Q3 Q4
Years Earnings Change Jun. Sep. Dec. Mar. Dividends Change Jun. Sep. Dec. Mar.
2000 U 1.46 -14.0% 0.41 0.35 0.35 0.35 0.12 15.0% n/a 0.06 n/a 0.07 7.8%
2001 U 1.29 -11.5% 0.35 0.32 0.26 0.35 0.12 0.0% n/a 0.06 n/a 0.07 9.7%
2002 G U 2.02 56.2% 0.50 0.47 0.46 0.59 0.15 21.7% n/a 0.07 n/a 0.08 6.7%
2003 G U 2.38 18.1% 0.60 0.49 0.64 0.65 0.17 14.3% n/a 0.09 n/a 0.09 7.1%
2004 U 2.64 10.8% 0.58 0.78 0.86 0.43 0.23 31.2% n/a 0.10 n/a 0.12 7.2%
2005 U 2.82 6.9% 0.66 0.74 0.88 0.55 0.35 54.8% n/a 0.15 n/a 0.20 9.8%
2006 B U 3.52 24.6% 0.65 0.79 0.78 1.30 0.54 53.8% n/a 0.22 n/a 0.33 11.9%
  Earnings Per Share Dividends Per Share
Quarterly
Quarterly Reported Reported %
12 Months Earnings 12 Months Dividends Payout
Fiscal % Q1 Q2 Q3 Q4 % Q1 Q2 Q3 Q4
Years Earnings Change Jun. Sep. Dec. Mar. Dividends Change Jun. Sep. Dec. Mar.
2007 U 3.52 0.1% 0.85 0.76 0.86 1.05 A 0.73 34.0% 0.00 0.33 0.18 0.22 23.7%
2008 U 3.58 1.8% 0.99 1.24 1.19 0.15 0.93 28.4% 0.22 0.24 0.24 0.24 25.4%
2009 B U 0.82 -77.2% 1.07 0.74 0.12 -1.11 0.68 -26.7% 0.24 0.24 0.12 0.09 n/a
2010 n/a n/c 0.05 0.32 0.80 n/a n/a n/c 0.09 0.09 n/a n/a n/a
ALL ITEMS ADJUSTED FOR STOCK SPLITS OR DIVIDENDS
A:
2:1 ON 06/27/2006
B: INCLUDES OR EXCLUDES EXTRAORDINARY CHARGE OR CREDIT

- INCLS 74.98 PRETAX CR IN MAR 2006

- INCLS 11.47 PRETAX CHG IN FIS 2009
G: INCLUDES THE EFFECTS OF A CHANGE IN ACCOUNTING POLICIES OR TAX
LAWS
- ADOPTED SFAS 133 AND138 FOR ACCOUNTING DERIVATIVE INSTRUMENTS AND
HEDGIG ACTIVITIES IN FIS 2002
- ADOPTED SFAS 146 FOR COSTS ACCOCIATED WITH EXIT OR DISPOSAL
ACTIVITIES & FASB 45 FOR GUARANTOR'S ACCOUNTING & DISCLOSURE
REQUIREMENTS FOR GUARANTEES, INCLUDING INDIRECT GUARANTEES OF
INDEBTEDNESS TO OTHERS, AN INTERPRETATION OF FASB STATEMENTS NO 5, 57
& 107 & A RESCISSION OF FASB INTERPRETATION NO 34 FIS 2003, EARNINGS
IMPACT IMMATERIAL IN BOTH THE CASES
U: BASED ON AVERAGE SHARES OUTSTANDING

- FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED MAR 2001 WERE 238.34

- FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED MAR 2005 WERE 260.34
- FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED MAR 2006 WERE 324.34
- FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED MAR 2007 WERE 324.62

Web site and selected data copyright 2008 The Winthrop Corporation. All rights reserved.
Selected data copyright 2008, "Worldscope/Disclosure, L.L.C., a Primark affiliate." All
rights reserved.      
Terms of Use       Help
Best viewed with Microsoft Internet Explorer version 5.0 or higher.
HOME | ABOUT US | FEEDBACK | HELP | CONTENT MAP
Terms and Conditions

Web site and selected data copyright 2008 The Winthrop Corporation. All rights reserved.
Selected data copyright 2008, "Worldscope/Disclosure, L.L.C., a Primark affiliate." All rights
reserved. Powered by Manta