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HONDA MOTOR, Net Income Forecast for the Fiscal Year Revised Downward by 29%

Fri Nov 7, 2025 3:30 pm JST Earnings

7267 HONDA MOTOR CO., LTD. 【IFRS】

Earnings Report

HONDA MOTOR CO., LTD. <7267> [TSE Prime] announced its financial results (based on IFRS) after the market closed on November 7th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) dropped 37.0% from the same period last year to 311 billion yen.

In addition, the full-year forecast for consolidated net income has decreased 28.6%, from the previous forecast of 420 billion yen to 300 billion yen (compared to 835 billion yen in the previous period), leading to an increase in the profit decline rate from 49.8% to 64.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income/loss for the October to March period (second half) is expected to turn into a loss of 11.8 billion yen (compared to a profit of 341 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated net income grew 15.1% from the same period last year, reaching 115 billion yen. However, the operating profit margin worsened from 4.8% in the same period last year to 3.7%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2023 9,609,392 696,573 879,285 616,301 124.6 53.5 Nov 9, 2023 IFRS
Apr - Sep, 2024 10,797,613 742,608 741,953 494,683 103.3 56.3 Nov 6, 2024 IFRS
Apr - Sep, 2025 10,632,680 438,144 527,419 311,829 76.3 89.4 Nov 7, 2025 IFRS
YoY -1.5% -41.0% -28.9% -37.0% -26.1%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance ー ー ー ー － 35 May 13, 2025 IFRS
Apr - Sep, 2025 Results 10,632,680 438,144 527,419 311,829 76.3 35 Nov 7, 2025 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 21,100,000 700,000 710,000 420,000 107.9 70 Aug 6, 2025 IFRS
Mar, 2026 New 20,700,000 550,000 590,000 300,000 77.1 70 Nov 7, 2025 IFRS
Revision Rate -1.9% -21.4% -16.9% -28.6% -28.6%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 10,891,154 470,878 575,687 341,154 73.0 34 May 13, 2025 IFRS
Oct - Mar, 2025 Guidance 10,067,320 111,856 62,581 -11,829 -3.0 35 Nov 7, 2025 IFRS
YoY -7.6% -76.2% -89.1% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 20,428,802 1,381,977 1,642,384 1,107,174 225.9 68 May 10, 2024 IFRS
Mar, 2025 21,688,767 1,213,486 1,317,640 835,837 178.9 68 May 13, 2025 IFRS
Mar, 2026 Guidance 20,700,000 550,000 590,000 300,000 77.1 70 Nov 7, 2025 IFRS
YoY -4.6% -54.7% -55.2% -64.1% -56.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 5,392,755 257,903 182,479 100,023 20.9 4.8 Nov 6, 2024 IFRS
Oct - Dec, 2024 5,531,112 397,312 483,606 310,580 65.5 7.2 Feb 13, 2025 IFRS
Jan - Mar, 2025 5,360,042 73,566 92,081 30,574 6.6 1.4 May 13, 2025 IFRS
Apr - Jun, 2025 5,340,268 244,170 292,334 196,670 46.8 4.6 Aug 6, 2025 IFRS
Jul - Sep, 2025 5,292,412 193,974 235,085 115,159 28.2 3.7 Nov 7, 2025 IFRS
YoY -1.9% -24.8% +28.8% +15.1% +35.0%

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