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Financial Statement AnalysesFinancial Statement Analyses\Balance Sheet - Common Size

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Balance Sheet - (Common Size): Honda Motor Co., Ltd.


Figures are expressed as Percent of Total Assets.
Total Assets are in millions of Japanese Yen.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End
3/31/2008 3/31/2007 3/31/2006 3/31/2005 3/31/2004
Date
Assets
Total Assets 12,439,610.0 11,964,917.0 10,533,995.0 9,187,808.0 8,166,445.0
Cash & Short Term
8.4% 7.9% 7.5% 8.5% 8.9%
Investments
Cash 8.4% 7.9% 7.1% 8.4%
Short Term
0.4% 0.1%
Investments
Receivables (Net) 19.0% 20.7% 20.8% 19.7% 20.1%
Inventories -Total 9.6% 9.9% 9.8% 9.4% 9.4%
Raw Materials 3.3% 3.1% 3.0% 2.9% 2.7%
Work in Process 0.3% 0.3% 0.3% 0.3% 0.3%
Finished Goods 6.1% 6.5% 6.5% 6.2% 6.4%
Progress
0.0% 0.0% 0.0% 0.0% 0.0%
Payments & Other
Prepaid Expenses
Other Current
5.0% 5.4% 5.8% 6.0% 6.4%
Assets
Current Assets -
42.1% 43.9% 43.9% 43.6% 44.7%
Total
Long Term
21.8% 25.4% 28.3% 28.6% 29.1%
Receivables
Investment in
Associated 4.4% 4.1% 3.9% 3.8% 3.7%
Companies
Other Investments 1.8% 2.1% 2.7% 2.9% 3.0%
Property Plant and
50.1% 44.2% 40.0% 40.8% 42.2%
Equipment - Gross
Accumulated
25.0% 24.0% 22.8% 23.6% 24.6%
Depreciation
Property Plant
and Equipment – 25.1% 20.2% 17.2% 17.2% 17.6%
Net
Other Assets 4.9% 4.3% 3.9% 3.9% 1.9%
Deferred
Charges
Tangible Other
4.9% 4.3% 3.9%
Assets
Intangible Other
Assets
Total Assets 100.0% 100.0% 100.0% 100.0% 100.0%
Liabilities &
Shareholders'
Equity
Total Liabilities &
Shareholders' 12,439,610.0 11,964,917.0 10,533,995.0 9,187,808.0 8,166,445.0
Equity
Accounts Payable 8.5% 9.7% 10.7% 11.0% 11.2%
Short Term Debt &
Current Portion of 20.6% 17.1% 12.8% 14.2% 15.0%
Long Term Debt
Accrued Payroll
Income Taxes
0.6% 0.6% 3.6% 3.7% 3.0%
Payable
Dividends Payable
Other Current
8.0% 8.4% 10.7% 11.9% 11.8%
Liabilities
Current Liabilities -
37.6% 35.8% 37.9% 40.8% 40.8%
Total
Long Term Debt 14.8% 15.9% 17.8% 17.0% 17.1%
Long Term Debt
Excluding 14.8% 15.9% 17.8% 17.0% 17.1%
Capitalized Leases
Capitalized
0.0% 0.0% 0.0% 0.0% 0.0%
Lease Obligations
Provision for Risks
6.0% 5.7% 2.9% 5.7% 7.0%
and Charges
Deferred Income
Deferred Taxes 1.0% 2.0% 0.7% -0.7% -1.4%
Deferred Taxes
2.5% 2.6% 1.1% 0.7% 0.5%
- Credit
Deferred Taxes
1.4% 0.6% 0.4% 1.4% 2.0%
- Debit
Deferred Tax
Liability in Untaxed
Reserves
Other Liabilities 2.9% 2.0% 0.6% 0.6% 0.6%
Total Liabilities 62.3% 61.5% 60.0% 63.4% 64.1%
Non-Equity
Reserves
Minority Interest 1.1% 1.0% 0.8% 0.8% 0.7%
Preferred Stock 0.0% 0.0% 0.0% 0.0% 0.0%
Preferred Stock
Issued for ESOP
ESOP
Guarantees -
Preferred Issued
Common Equity 36.5% 37.5% 39.2% 35.8% 35.2%
Total Liabilities &
Shareholders' 100.0% 100.0% 100.0% 100.0% 100.0%
Equity
Copyright ©2000-2008 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this
site may be reproduced, stored in a retrieval system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical,
photocopying, recording, or otherwise without prior written permission. Information is believed reliable, but accuracy, completeness and opinions are not
guaranteed.
Financial Statement Analyses\Balance Sheet - Year-Year % Change
Balance Sheet - (Year to Year Percent Change): Honda Motor Co., Ltd.
Figures are the Percent Changes from the Prior Year.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 3/31/2008 3/31/2007 3/31/2006 3/31/2005 3/31/2004
Assets
Total Assets 4.0% 13.6% 14.7% 12.5% 9.5%
Cash & Short Term Investments 11.1% 20.4% 0.1% 8.3% 32.3%
Cash 11.1% 26.5% -3.4%
Short Term Investments 253.3%
Receivables (Net) -4.8% 13.1% 21.1% 10.6% 6.2%
Inventories -Total 1.4% 14.2% 20.2% 12.7% 1.8%
Raw Materials 8.0% 16.9% 20.4% 20.0% -0.7%
Work in Process 10.8% 23.9% 13.0% 12.3% -6.3%
Finished Goods -2.3% 12.5% 20.4% 9.6% 3.3%
Progress Payments & Other
Prepaid Expenses
Other Current Assets -3.6% 5.2% 11.0% 4.7% 16.5%
Current Assets - Total -0.4% 13.5% 15.4% 9.7% 11.0%
Long Term Receivables -10.9% 1.9% 13.7% 10.4% 6.6%
Investment in Associated
12.8% 19.2% 17.0% 17.2% 9.3%
Companies
Other Investments -12.8% -11.0% 8.0% 6.4% 42.8%
Property Plant and Equipment -
17.8% 25.6% 12.2% 9.0% 1.9%
Gross
Accumulated Depreciation 8.2% 19.9% 10.5% 8.0% 1.1%
Property Plant and
29.2% 33.0% 14.6% 10.4% 3.0%
Equipment – Net
Other Assets 17.9% 24.1% 16.6% 132.7% 63.9%
Deferred Charges
Tangible Other Assets 17.9% 24.1%
Intangible Other Assets
Total Assets 4.0% 13.6% 14.7% 12.5% 9.5%
Liabilities & Shareholders'
Equity
Total Liabilities &
4.0% 13.6% 14.7% 12.5% 9.5%
Shareholders' Equity
Accounts Payable -9.6% 3.1% 11.6% 11.3% 9.7%
Short Term Debt & Current
25.3% 51.1% 3.6% 6.8% 3.3%
Portion of Long Term Debt
Accrued Payroll
Income Taxes Payable -6.2% -80.1% 12.5% 39.9% 277.3%
Dividends Payable
Other Current Liabilities -0.9% -10.8% 3.1% 13.7% -8.2%
Current Liabilities - Total 9.1% 7.5% 6.4% 12.4% 6.8%
Long Term Debt -3.6% 1.4% 20.5% 11.8% 22.3%
Long Term Debt Excluding
-3.6% 1.4% 20.5% 11.8% 22.3%
Capitalized Leases
Capitalized Lease Obligations
Provision for Risks and Charges 10.1% 119.2% -40.8% -8.5% -16.7%
Deferred Income
Deferred Taxes -47.2% 214.7%
Deferred Taxes - Credit -3.5% 174.0% 68.3% 54.2% 408.6%
Deferred Taxes - Debit 145.8% 89.9% -70.8% -20.4% -27.6%
Deferred Tax Liability in Untaxed
Reserves
Other Liabilities 48.8% 272.6% 11.8% 16.5% 19.1%
Total Liabilities 5.4% 16.4% 8.4% 11.4% 9.6%
Non-Equity Reserves
Minority Interest 15.4% 40.5% 24.9% 18.3% 12.6%
Preferred Stock
Preferred Stock Issued for
ESOP
ESOP Guarantees -
Preferred Issued
Common Equity 1.4% 8.6% 25.4% 14.4% 9.3%
Total Liabilities & Shareholders'
4.0% 13.6% 14.7% 12.5% 9.5%
Equity
Copyright ©2000-2008 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this
site may be reproduced, stored in a retrieval system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical,
photocopying, recording, or otherwise without prior written permission. Information is believed reliable, but accuracy, completeness and opinions are not
guaranteed.
Financial Statement Analyses\Balance Sheet - Five-Year Averages
Balance Sheet - (5 Year Averages): Honda Motor Co., Ltd.
Figures in millions of Japanese Yen.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End
3/31/2008 3/31/2007 3/31/2006 3/31/2005 3/31/2004
Date
Assets
Total Assets 10,458,555.0 9,462,070.2 8,426,377.0 7,438,842.4 6,578,897.4
Cash & Short Term
858,054.4 757,354.8 690,133.8 616,606.0 545,874.4
Investments
Cash
Short Term
Investments
Receivables (Net) 2,097,748.8 1,933,662.4 1,726,782.6 1,528,570.2 1,390,555.8
Inventories -Total 1,009,296.6 919,840.6 812,073.8 728,963.8 670,030.8
Raw Materials 318,000.0 281,664.4 249,430.2 227,370.6 203,710.6
Work in Process 29,829.2 26,823.6 24,133.8 22,986.6 23,279.8
Finished Goods 661,467.4 611,352.6 538,509.8 478,606.6 443,040.4
Progress
0.0 0.0 0.0 0.0 0.0
Payments & Other
Prepaid Expenses
Other Current Assets 589,270.8 555,671.2 504,729.4 454,187.2 411,260.0
Current Assets - Total 4,554,370.6 4,166,529.0 3,733,719.6 3,328,327.2 3,017,721.0
Long Term
2,746,263.6 2,650,703.6 2,404,510.6 2,069,024.4 1,719,891.0
Receivables
Investment in
Associated 418,849.8 363,438.0 315,922.2 274,248.6 239,393.6
Companies
Other Investments 255,341.4 245,780.2 223,965.4 193,814.4 174,681.8
Property Plant and
4,586,320.2 4,016,297.0 3,632,119.0 3,413,468.0 3,237,779.0
Equipment - Gross
Accumulated
2,512,268.6 2,287,431.0 2,108,297.8 2,001,775.6 1,918,729.0
Depreciation
Property Plant and
2,074,051.6 1,728,866.0 1,523,821.2 1,411,692.4 1,319,050.0
Equipment – Net
Other Assets 409,678.0 306,753.4 224,438.0 161,735.4 108,160.0
Deferred Charges
Tangible Other
Assets
Intangible Other
Assets
Total Assets 10,458,555.0 9,462,070.2 8,426,377.0 7,438,842.4 6,578,897.4
Liabilities &
Shareholders'
Equity
Total Liabilities &
Shareholders' 10,458,555.0 9,462,070.2 8,426,377.0 7,438,842.4 6,578,897.4
Equity
Accounts Payable 1,055,460.2 1,010,767.2 945,647.4 883,378.2 819,999.0
Short Term Debt &
Current Portion of 1,695,291.8 1,420,118.0 1,280,479.2 1,247,218.4 1,154,240.4
Long Term Debt
Accrued Payroll
Income Taxes
221,923.0 220,488.0 217,530.6 149,003.6 98,145.6
Payable
Dividends Payable
Other Current
1,035,098.8 1,045,168.6 1,017,391.0 935,817.6 833,782.2
Liabilities
Current Liabilities -
4,007,773.8 3,696,541.8 3,461,048.2 3,215,417.8 2,906,167.2
Total
Long Term Debt 1,715,101.4 1,575,807.4 1,337,981.6 1,035,816.2 838,829.4
Long Term Debt
Excluding Capitalized 1,715,101.4 1,575,807.4 1,337,981.6 1,035,816.2 838,829.4
Leases
Capitalized Lease
0.0 0.0 0.0 0.0 0.0
Obligations
Provision for Risks
565,439.4 553,241.2 511,780.2 484,899.2 399,532.6
and Charges
Deferred Income
Deferred Taxes 54,534.2 -14,338.8 -93,788.4 -123,540.6 -112,982.8
Deferred Taxes -
169,871.6 110,633.0 47,735.6
Credit
Deferred Taxes -
115,337.4 124,971.8 141,524.0 148,204.2 124,440.8
Debit
Deferred Tax Liability
in Untaxed Reserves
Other Liabilities 156,170.4 92,043.8 49,700.4 56,767.0 57,597.0
Total Liabilities 6,499,019.2 5,903,295.4 5,266,722.0 4,669,359.6 4,089,143.4
Non-Equity Reserves
Minority Interest 96,271.8 78,419.8 61,034.0 49,953.6 42,009.0
Preferred Stock 0.0 0.0 0.0 0.0 0.0
Preferred Stock
Issued for ESOP
ESOP Guarantees
- Preferred Issued
Common Equity 3,863,264.0 3,480,355.0 3,098,621.0 2,719,529.2 2,447,745.0
Total Liabilities &
10,458,555.0 9,462,070.2 8,426,377.0 7,438,842.4 6,578,897.4
Shareholders' Equity
Copyright ©2000-2008 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this
site may be reproduced, stored in a retrieval system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical,
photocopying, recording, or otherwise without prior written permission. Information is believed reliable, but accuracy, completeness and opinions are not
Financial Statement Analyses\Income Statement - Common Size
Income Statement - (Common Size): Honda Motor Co., Ltd.
Figures are expressed as Percent of Net Sales or Revenues.
Net Sales or Revenues are in millions of Japanese Yen.
Fiscal Year 2008 2007 2006 2005 2004
Net Sales or
12,002,834.0 11,087,140.0 9,907,996.0 8,650,105.0 8,162,600.0
Revenues
Cost of Goods Sold 66.9% 67.6% 68.1% 67.2% 66.1%
Depreciation,
Depletion & 4.3% 3.4% 2.6% 2.6% 2.6%
Amortization
Gross Income 28.8% 29.1% 29.2% 30.2% 31.3%
Selling, General &
Administrative 20.9% 21.4% 21.9% 22.9% 23.9%
Expenses
Other Operating
0.0% 0.0% 0.0% 0.0% 0.0%
Expenses
Operating Expenses
92.1% 92.3% 92.6% 92.7% 92.6%
- Total
Operating Income 7.9% 7.7% 7.4% 7.3% 7.4%
Extraordinary Credit
0.0% 0.0% 1.4% 0.0% 0.0%
- Pretax
Extraordinary
0.0% 0.0% 0.0% 0.0% 0.0%
Charge - Pretax
Non-Operating
0.4% 0.4% 0.3% 0.1% 0.1%
Interest Income
Reserves -
0.0% 0.0% 0.0% 0.0% 0.0%
Increase/Decrease
Pretax Equity in
0.0%
Earnings
Other
Income/Expense - -0.8% -0.8% -0.5% 0.4% 0.7%
Net
Earnings before
Interest, Taxes,
Depreciation & 11.9% 10.6% 11.1% 10.5% 10.7%
Amortization
(EBITDA)
Earnings before
Interest & Taxes 7.6% 7.3% 8.5% 7.9% 8.1%
(EBIT)
Interest Expense on
0.1% 0.1% 0.1% 0.1% 0.1%
Debt
Interest Capitalized 0.0% 0.0% 0.0% 0.0% 0.0%
Pretax Income 7.5% 7.2% 8.4% 7.7% 8.0%
Income Taxes 3.2% 2.6% 3.2% 3.1% 3.1%
Minority Interest 0.2% 0.2% 0.2% 0.1% 0.1%
Equity in Earnings 1.0% 0.9% 1.0% 1.1% 0.9%
After Tax Other
0.0% 0.0% 0.0% 0.0% 0.0%
Income/Expense
Discontinued
0.0% 0.0% 0.0% 0.0% 0.0%
Operations
Net Income before
Extraordinary
5.0% 5.3% 6.0% 5.6% 5.7%
Items/Preferred
Dividends
Extraordinary Items
& Gain/Loss Sale of 0.0% 0.0% 0.0% 0.0% 0.0%
Assets
Preferred Dividend
0.0% 0.0% 0.0% 0.0% 0.0%
Requirements
Net Income after
Preferred Dividends
5.0% 5.3% 6.0% 5.6% 5.7%
- available to
Common
Copyright ©2000-2008 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this
site may be reproduced, stored in a retrieval system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical,
photocopying, recording, or otherwise without prior written permission. Information is believed reliable, but accuracy, completeness and opinions are not
guaranteed.
Financial Statement Analyses\Income Statement - Year-Year % Change
Income Statement - (Year to Year Percent Change): Honda Motor Co., Ltd.
Figures are the Percent Changes from the Prior Year.
Fiscal Year 2008 2007 2006 2005 2004
Net Sales or Revenues 8.3% 11.9% 14.5% 6.0% 2.4%
Cost of Goods Sold 7.1% 11.0% 16.1% 7.7% 4.0%
Depreciation, Depletion & Amortization 39.6% 41.7% 16.2% 5.8% -3.4%
Gross Income 7.4% 11.2% 10.9% 2.3% -0.3%
Selling, General & Administrative Expenses 5.8% 9.4% 9.4% 1.5% 4.3%
Other Operating Expenses
Operating Expenses - Total 8.0% 11.5% 14.4% 6.0% 3.9%
-
Operating Income 11.9% 16.6% 15.8% 5.1%
13.0%
-
Extraordinary Credit - Pretax
100.0%
Extraordinary Charge - Pretax
Non-Operating Interest Income 18.4% 54.8% 155.8% 15.0% 24.9%
Reserves - Increase/Decrease
Pretax Equity in Earnings
- -
Other Income/Expense - Net
241.8% 29.4%
Earnings before Interest, Taxes, Depreciation
21.5% 6.6% 21.9% 3.2% 4.1%
& Amortization (EBITDA)
Earnings before Interest & Taxes(EBIT) 13.2% -4.3% 23.8% 2.4% 6.7%
-
Interest Expense on Debt 28.7% 8.5% 2.1% 14.3%
16.5%
Interest Capitalized
Pretax Income 13.0% -4.5% 24.2% 2.2% 7.2%
Income Taxes 36.5% -10.5% 18.9% 5.5% 3.1%
Minority Interest 35.7% 31.6% 32.3% -1.7%
Equity in Earnings 15.0% 3.8% 3.7% 27.8% 21.3%
After Tax Other Income/Expense
Discontinued Operations
Net Income before Extraordinary
1.3% -0.8% 22.8% 4.7% 8.8%
Items/Preferred Dividends
Extraordinary Items & Gain/Loss Sale of Assets
Preferred Dividend Requirements
Net Income after Preferred Dividends -
1.3% -0.8% 22.8% 4.7% 8.8%
available to Common
Copyright ©2000-2008 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this
site may be reproduced, stored in a retrieval system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical,
photocopying, recording, or otherwise without prior written permission. Information is believed reliable, but accuracy, completeness and opinions are not
guaranteed.
Financial Statement Analyses\Income Statement - Five-Year Averages
Income Statement - (5 Year Averages): Honda Motor Co., Ltd.
Figures in millions of Japanese Yen.
Fiscal Year 2008 2007 2006 2005 2004
Net Sales or
9,962,135.0 9,155,868.0 8,410,927.6 7,722,094.4 7,211,841.4
Revenues
Cost of Goods Sold 6,695,062.4 6,127,977.0 5,597,495.0 5,125,276.6 4,769,540.4
Depreciation, Depletion
318,267.0 258,756.8 223,448.0 205,071.4 194,348.8
& Amortization
Gross Income 2,948,805.6 2,769,134.2 2,589,984.6 2,391,746.4 2,247,952.2
Selling, General &
Administrative 2,195,417.4 2,068,478.0 1,931,845.0 1,798,392.6 1,695,536.2
Expenses
Other Operating
0.0 0.0 0.0 0.0 0.2
Expenses
Operating Expenses -
9,208,746.8 8,455,211.8 7,752,788.0 7,128,740.6 6,659,425.6
Total
Operating Income 753,388.2 700,656.2 658,139.6 593,353.8 552,415.8
Extraordinary Credit -
27,603.2 27,603.2 27,603.2
Pretax
Extraordinary Charge -
0.0 0.0 0.0
Pretax
Non-Operating Interest
27,973.2 19,433.4 12,449.6 9,343.6 9,360.4
Income
Reserves -
0.0 0.0 0.0 0.0 0.0
Increase/Decrease
Pretax Equity in
Earnings
Other Income/Expense
-28,176.0 -25,004.6 -23,038.0 -14,629.0 -22,715.0
- Net
Earnings before
Interest, Taxes,
1,099,055.6 981,445.0 898,602.4 793,139.8 733,410.0
Depreciation &
Amortization (EBITDA)
Earnings before
780,788.6 722,688.2 675,154.4 588,068.4 539,061.2
Interest & Taxes(EBIT)
Interest Expense on
12,657.2 11,774.0 12,545.4 14,445.0 15,898.0
Debt
Interest Capitalized 0.0 0.0 0.0 0.0 0.0
Pretax Income 768,131.4 710,914.2 662,609.0 573,623.4 523,163.2
Income Taxes 301,575.2 273,101.0 262,561.8 234,811.8 215,565.6
Minority Interest 17,204.8 11,743.2 7,719.8 4,662.4 2,350.6
Equity in Earnings 98,634.4 87,240.4 75,060.0 60,279.8 44,425.6
After Tax Other
0.0 0.0 0.0 0.0 0.0
Income/Expense
Discontinued
0.0 0.0 0.0 0.0 0.0
Operations
Net Income before
Extraordinary
547,985.8 513,310.4 467,387.4 394,429.0 349,672.6
Items/Preferred
Dividends
Extraordinary Items &
Gain/Loss Sale of 0.0 0.0 0.0 0.0 0.0
Assets
Preferred Dividend
0.0 0.0 0.0 0.0 0.0
Requirements
Net Income after
Preferred Dividends - 547,985.8 513,310.4 467,387.4 394,429.0 349,672.6
available to Common
Copyright ©2000-2008 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this
site may be reproduced, stored in a retrieval system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical,
photocopying, recording, or otherwise without prior written permission. Information is believed reliable, but accuracy, completeness and opinions are not
guaranteed.
Financial Statement Analyses\Sources of Capital - Net Change
Sources of Capital: Honda Motor Co., Ltd.
Currency figures are in millions of Japanese Yen.
Year to year % changes pertain to reported Balance Sheet values.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 3/31/2008 3/31/2007 3/31/2006 3/31/2005 3/31/2004
Total Capital 6,522,723.0 6,511,261.0 6,092,210.0 4,918,795.0 4,328,197.0
Percent of Total
Capital
Short Term Debt 39.2% 31.3% 22.2% 26.5% 28.2%
Long Term Debt 28.2% 29.3% 30.8% 31.7% 32.2%
Other Liabilities 5.6% 3.7% 1.1% 1.2% 1.2%
Total Liabilities 118.9% 113.0% 103.8% 118.5% 120.9%
Minority Interest 2.2% 1.9% 1.4% 1.4% 1.4%
Preferred Stock 0.0% 0.0% 0.0% 0.0% 0.0%
Retained Earnings 78.2% 71.5% 70.1% 77.4% 82.9%
Common Equity 69.7% 68.8% 67.7% 66.9% 66.4%
Total Capital 100.0% 100.0% 100.0% 100.0% 100.0%
Year to Year Net
Changes
Short Term Debt 51,688.8 69,007.5 4,678.3 8,302.3 3,910.0
Long Term Debt -6,909.1 2,674.3 31,950.0 16,488.8 25,443.0
Other Liabilities 11,903.5 17,837.2 689.4 826.9 806.3
Total Liabilities 39,414.0 103,861.4 49,227.2 59,565.3 45,794.0
Minority Interest 1,889.9 3,544.7 1,745.9 1,081.6 663.9
Preferred Stock 0.0 0.0 0.0 0.0 0.0
Retained Earnings 44,509.3 38,700.4 45,850.3 21,994.9 42,777.0
Common Equity 6,165.4 35,686.1 83,645.6 41,489.4 24,468.0
Total Capital 1,146.2 41,905.1 117,341.5 59,059.8 50,574.9
Year to Year Percent
Changes
Short Term Debt 25.3% 51.1% 3.6% 6.8% 3.3%
Long Term Debt -3.6% 1.4% 20.5% 11.8% 22.3%
Other Liabilities 48.8% 272.6% 11.8% 16.5% 19.1%
Total Liabilities 5.4% 16.4% 8.4% 11.4% 9.6%
Minority Interest 15.4% 40.5% 24.9% 18.3% 12.6%
Preferred Stock
Retained Earnings 9.6% 9.1% 12.0% 6.1% 13.5%
Common Equity 1.4% 8.6% 25.4% 14.4% 9.3%
Total Capital 0.2% 6.9% 23.9% 13.6% 13.2%
Total Liabilities &
Common Equity
Total Liabilities 7,753,539.0 7,359,399.0 6,320,785.0 5,828,513.0 5,232,860.0
Net Change in
Liabilities as 5.1% 14.1% 7.8% 10.2% 8.8%
% of Total Liabilities
Common Equity 4,544,265.0 4,482,611.0 4,125,750.0 3,289,294.0 2,874,400.0
Net Change in
Common Equity as 1.4% 8.0% 20.3% 12.6% 8.5%
% of Common Equity
Cash Flow
Operating Activities
Financing Activities
Investing Activities
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Financial Ratio AnalysesFinancial Ratio Analyses\Accounting Ratios
Accounting Ratios: Honda Motor Co., Ltd.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 3/31/2008 3/31/2007 3/31/2006 3/31/2005 3/31/2004
Receivables Turnover 5.1 4.5 4.5 4.8 5.0
Receivables - Number of Days 73.7 77.0 73.8 72.8 71.1
Inventory Turnover
Inventory - Number of Days
Gross Property, Plant &
1.9 2.1 2.4 2.3 2.4
Equipment Turnover
Net Property, Plant & Equipment
3.8 4.6 5.5 5.5 5.7
Turnover
Depreciation, Depletion &
Amortization
8.3% 7.0% 6.2% 6.0% 6.2%
% of Gross Property, Plant &
Equipment
Depreciation, Depletion &
Amortization 14,693.7 10,926.3 3,647.3 1,230.7 -742.9
Year to Year Change
Depreciation, Depletion &
Amortization 39.6% 41.7% 16.2% 5.8% -3.4%
Year to Year % Change
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Financial Ratio Analyses\Asset Utilization
Asset Utilization: Honda Motor Co., Ltd.
Figures are expressed as the ratio of Net Sales.
Net Sales are in millions of Japanese Yen.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End
3/31/2008 3/31/2007 3/31/2006 3/31/2005 3/31/2004
Date
Net Sales 12,002,834.0 11,087,140.0 9,907,996.0 8,650,105.0 8,162,600.0
Cash & Cash
8.8% 8.5% 7.9% 9.1% 8.9%
Equivalents
Short-Term
0.4% 0.1%
Investments
Accounts Receivable 19.7% 22.4% 22.1% 21.0% 20.1%
Inventories 10.0% 10.7% 10.5% 10.0% 9.4%
Other Current Assets 5.2% 5.8% 6.2% 6.4% 6.4%
Total Current Assets 43.6% 47.4% 46.7% 46.3% 44.8%
Total Long Term
Receivables & 29.0% 34.1% 37.1% 37.4% 35.8%
Investments
Long Term
22.6% 27.4% 30.1% 30.3% 29.1%
Receivables
Investments in
Associated 4.6% 4.4% 4.1% 4.0% 3.7%
Companies
Other
1.9% 2.3% 2.9% 3.1% 3.1%
Investments
Property, Plant &
51.9% 47.7% 42.5% 43.4% 42.2%
Equipment - Gross
Accumulated
25.9% 25.9% 24.2% 25.1% 24.6%
Depreciation
Property Plant &
26.0% 21.8% 18.3% 18.3% 17.6%
Equipment - Net
Other Assets 5.1% 4.7% 4.2% 4.1% 1.9%
Total Assets 103.6% 107.9% 106.3% 106.2% 100.0%
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guaranteed.
Financial Ratio Analyses\Employee Efficiency
Employee Efficiency: Honda Motor Co., Ltd.
Values per Employee are in Japanese Yen.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 3/31/2008 3/31/2007 3/31/2006 3/31/2005 3/31/2004
Employees 178,960 167,231 144,785 137,827 131,600
Values per Employee
Sales 67,069,926 66,298,354 68,432,476 62,760,598 62,025,836
Net Income 3,352,922 3,541,939 4,123,583 3,527,589 3,528,404
Cash Earnings 6,923,860 6,060,138 5,147,847 5,361,337 5,079,552
Working Capital 3,090,177 5,769,648 4,396,098 1,887,714 2,419,719
Total Debt 24,557,538 23,602,203 22,310,336 20,779,085 19,878,480
Total Capital 36,447,938 38,935,730 42,077,632 35,688,182 32,889,035
Total Assets 69,510,561 71,547,243 72,756,121 66,661,888 62,055,053
Year to Year % Change
per Employee
Employees 7.0% 15.5% 5.0% 4.7% 3.7%
Sales 1.2% -3.1% 9.0% 1.2% -1.3%
Net Income -5.3% -14.1% 16.9% -0.0% 4.9%
Cash Earnings 14.3% 17.7% -4.0% 5.5% -18.4%
Working Capital -46.4% 31.2% 132.9% -22.0% 80.7%
Total Debt 4.0% 5.8% 7.4% 4.5% 8.6%
Total Capital -6.4% -7.5% 17.9% 8.5% 9.2%
Total Assets -2.8% -1.7% 9.1% 7.4% 5.6%
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Financial Ratio Analyses\Fixed Charges Coverage
Fixed Charges Coverage: Honda Motor Co., Ltd.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 3/31/2008 3/31/2007 3/31/2006 3/31/2005 3/31/2004
EBIT/Total Interest Expense 54.9 62.4 70.7 58.3 65.1
EBIT/Net Interest 709.1 741.8
EBIT/(Total Interest Exp + Pfd
54.9 62.4 70.7 58.3 65.1
Div)
EBIT/Dividends on Common
6.0 5.7 11.8 14.2 19.8
Shares
EBIT/(Dividends on Common +
6.0 5.7 11.8 14.2 19.8
Pfd)
EBITDA/Total Interest Expense 86.1 91.2 92.8 77.7 86.1
EBITDA/Net Interest 944.5 980.2
EBITDA/(Total Interest Exp + Pfd
86.1 91.2 92.8 77.7 86.1
Div)
EBITDA/Dividends on Com
9.4 8.4 15.5 19.0 26.2
Shares
EBITDA/(Dividends on Com +
9.4 8.4 15.5 19.0 26.2
Pfd)
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Financial Ratio Analyses\Leverage Analysis
Leverage Analysis: Honda Motor Co., Ltd.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 3/31/2008 3/31/2007 3/31/2006 3/31/2005 3/31/2004
Long Term Debt % of EBIT 201.3% 236.5% 223.2% 229.3% 210.1%
Long Term Debt % of EBITDA 128.4% 161.9% 170.2% 172.2% 159.0%
Long Term Debt % of Total
14.8% 15.9% 17.8% 17.0% 17.1%
Assets
Long Term Debt % of Total
28.2% 29.3% 30.8% 31.7% 32.2%
Capital
Long Term Debt % of Com
Equity
Total Debt % of EBIT 481.6% 489.8% 383.7% 421.2% 394.1%
Total Debt % of EBITDA 307.1% 335.3% 292.6% 316.2% 298.2%
Total Debt % of Total Assets 35.3% 33.0% 30.7% 31.2% 32.0%
Total Debt % of Total Capital 67.4% 60.6% 53.0% 58.2% 60.4%
Total Debt % of Total Capital &
48.4% 46.2% 43.4% 46.0% 47.1%
Short Term Debt
Total Debt % of Common Equity 96.7% 88.1% 78.3% 87.1% 91.0%
Minority Interest % of EBIT 15.5% 15.3% 10.4% 10.3% 8.9%
Minority Interest % of EBITDA 9.9% 10.4% 7.9% 7.7% 6.7%
Minority Interest % of Total
1.1% 1.0% 0.8% 0.8% 0.7%
Assets
Minority Interest % of Total
2.2% 1.9% 1.4% 1.4% 1.4%
Capital
Minority Interest % of Com
3.1% 2.7% 2.1% 2.1% 2.1%
Equity
Preferred Stock % of EBIT 0.0% 0.0% 0.0% 0.0% 0.0%
Preferred Stock % of EDITDA 0.0% 0.0% 0.0% 0.0% 0.0%
Preferred Stock % of Total
0.0% 0.0% 0.0% 0.0% 0.0%
Assets
Preferred Stock % of Total
0.0% 0.0% 0.0% 0.0% 0.0%
Capital
Preferred Stock % of Total
0.0% 0.0% 0.0% 0.0% 0.0%
Equity
Common Equity % of Total
36.5% 37.5% 39.2% 35.8% 35.2%
Assets
Common Equity % of Total
69.7% 68.8% 67.7% 66.9% 66.4%
Capital
Total Capital % of Total Assets 52.4% 54.4% 57.8% 53.5% 53.0%
Capital Expenditure % of Sales 5.6% 5.4% 4.6% 4.3% 3.5%
Fixed Assets % of Common
68.7% 53.9% 44.0% 48.2% 49.9%
Equity
Working Capital % of Total
8.5% 14.8% 10.4% 5.3% 7.4%
Capital
Dividend Payout 25.4% 23.7% 11.9% 9.8% 7.2%
Funds From Operations % of
28.2% 25.7% 23.1% 25.8% 25.6%
Total Debt
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Financial Ratio Analyses\Liquidity Analysis
Liquidity Analysis: Honda Motor Co., Ltd.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 3/31/2008 3/31/2007 3/31/2006 3/31/2005 3/31/2004
Total Current Assets % Net
43.6% 47.4% 46.7% 46.3% 44.8%
Sales
Cash % of Current Assets 20.1% 18.0% 16.2% 19.3%
Cash & Equivalents % of Current
20.1% 18.0% 17.0% 19.6% 19.8%
Assets
Quick Ratio
Receivables % of Current Assets 45.2% 47.2% 47.4% 45.2% 44.8%
Receivable Turnover - number of
73.7 77.0 73.8 72.8 71.1
days
Inventories % of Current Assets 22.9% 22.5% 22.4% 21.5% 21.0%
Inventory Turnover - number of
days
Inventory to Cash & Equivalents
315.5 287.7 272.8 327.4 340.7
- number of days
Receivables % of Total Assets 19.0% 20.7% 20.8% 19.7% 20.1%
Current Ratio
Total Debt % of Total Capital 48.4% 46.2% 43.4% 46.0% 47.1%
Funds from Operations % of
26.5% 23.6% 18.7% 19.7% 20.0%
Current Liabilities
Funds from Operations % of
67.5% 53.2% 39.7% 47.4% 47.9%
Long Term Debt
Funds from Operations % of
28.2% 25.7% 23.1% 25.8% 25.6%
Total Debt
Funds from Operations % of
19.0% 15.6% 12.2% 15.0% 15.4%
Total Capital
Cash Flow (in milllions of
Japanese Yen)
Operating Activities
Financing Activities
Investing Activities
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Financial Ratio Analyses\Per-Share Ratios
Per Share Data: Honda Motor Co., Ltd.
Figures are expressed as per unit of respective shares.
Figures are in Japanese Yen.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year End Date 3/31/2008 3/31/2007 3/31/2006 3/31/2005 3/31/2004
Sales 6,614.82 6,085.17 5,425.62 4,676.39 4,337.58
Operating Income 525.26 467.55 400.24 341.09 318.91
Pre-tax Income 493.70 435.17 454.46 361.33 347.36
Net Income (Continuing
330.68 325.10 326.94 262.85 246.75
Operations)
Net Income Before Extra Items 330.68 325.10 326.94 262.85 246.75
Extraordinary Items 0.00 0.00 0.00 0.00 0.00
Net Income After Extraordinary
330.68 325.10 326.94 262.85 246.75
Items
Net Income Available to Common
330.54 324.62 324.34 260.34 243.46
Shares
Fully Diluted Earnings 330.54 324.62 324.34 260.34 243.46
Common Dividends 86.00 67.00 50.00 32.50 21.00
Cash Earnings 682.56 555.43 404.90 395.67 350.48
Book Value 2,504.36 2,460.28 2,259.26 1,778.25 1,527.45
Retained Earnings 2,810.62 2,554.83 2,337.10 2,059.41 1,907.41
Assets 6,855.53 6,566.94 5,768.42 4,967.08 4,339.63
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Financial Ratio Analyses\Profitability Growth
Profitability Analysis: Honda Motor Co., Ltd.
Currency figures are in Japanese Yen.
Fiscal Year 2008 2007 2006 2005 2004
Fiscal Year
3/31/2008 3/31/2007 3/31/2006 3/31/2005 3/31/2004
End Date
Gross Income
28.8% 29.1% 29.2% 30.2% 31.3%
Margin
Operating
Income 7.9% 7.7% 7.4% 7.3% 7.4%
Margin
Pretax
Income 7.5% 7.2% 8.4% 7.7% 8.0%
Margin
EBIT Margin 7.6% 7.3% 8.5% 7.9% 8.1%
Net Income
5.0% 5.3% 6.0% 5.6% 5.7%
Margin
Return on
13.3% 13.8% 16.1% 15.8% 16.9%
Equity - Total
Return on
Invested 6.9% 7.5% 8.8% 8.4% 8.9%
Capital
Return on
5.0% 5.3% 6.1% 5.7% 6.0%
Assets
Asset
1.0 0.9 0.9 0.9 1.0
Turnover
Financial
96.7% 88.1% 78.3% 87.1% 91.0%
Leverage
Interest
Expense on 16,623,000,000 12,912,000,000 11,902,000,000 11,655,000,000 10,194,000,000
Debt
Effective Tax
43.2% 35.8% 38.2% 39.9% 38.7%
Rate
Cash Flow %
Sales
Selling,
General &
Administrative 20.9% 21.4% 21.9% 22.9% 23.9%
Expenses %
of Sales
Research &
Development 4.9% 5.0% 5.2% 5.4% 5.5%
Expense
Operating
Income
0.2% 6.9% 23.9% 13.6% 13.2%
Return On
Total Capital
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otherwise without prior written permission. Information is believed reliable, but accuracy, completeness and opinions are not guaranteed.
Wright Quality Rating AnalysesWright Quality Rating Analyses\Investment Acceptance
Wright Quality Rating - Investment Acceptance: Honda Motor Co., Ltd.
Currency figures are in millions of U.S. Dollars.

Wright Quality Rating


ABA12
Investment Acceptance Rating ABA12
Total Market Value of Shares Outstanding - Three Year Average 56,178
- Current Year 61,208
Public Market Value (Excludes Closely Held) - Three Year Average 52,385
- Current Year 57,075
Trading Volume - Three Year Average 0
- Current Year 0
Turnover Rate - Three Year Average 0.0%
- Current Year 0.0%
NYSE GVA LON
Stock Exchange Listings OSA PAR TYO
OTH ZHR
Number of Institutional Investors 371
Number of Shareholders 202,525
Closely Held Shares as % of Total Shares Outstanding 6.8%
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Wright Quality Rating Analyses\Financial Strength
Wright Quality Rating - Financial Strength: Honda Motor Co., Ltd.
Wright Quality Rating A BA12
Financial Strength Rating A BA12
Total Shareholders' Equity (Millions of U.S. Dollars) 44,860
Total Shareholders' Equity as % Total Capital 69.7%
Preferred Stock as % of Total Capital 0.0%
Long Term Debt as % of Total Capital 28.3%
Long Term Debt (Millions of Japanese Yen) 1,931,250
Lease Obligations (Millions of Japanese Yen) 0
Long Term Debt including Leases (Millions of Japanese Yen) 1,931,250
Total Debt as % of Total Capital 49.7%
Fixed Charge Coverage Ratio: Pretax Income to Interest Expense & Preferred
54.9
Dividends
Fixed Charge Coverage Ratio: Pretax Income to Net Interest Income &
-27.2
Preferred Dividends
Quick Ratio (Cash & Receivables / Current Liabilities) 0.7
Current Ratio (Current Assets / Current Liabilities) 1.1
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Wright Quality Rating Analyses\Profitability & Stability
Wright Quality Rating - Profitability & Stability: Honda Motor Co., Ltd.
Wright Quality Rating AB A12
Profitability & Stability Rating AB A12
Profit Rate of Earnings on Equity Capital - Time-Weighted Normal 16.3%
- Basic Trend -0.7%
Profit Rate Stability 93.5%
Return on Investment 9.8%
Return On Assets (Time-Weighted Average) 5.7%
Pre-Tax Income as % of Total Assets (Time-Weighted Average) 7.2%
Operating Income as % of Total Assets (Time-Weighted Average) 7.4%
Operating Income as % of Total Capital (Adjusted Rate) 15.4%
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Wright Quality Rating Analyses\Corporate Growth
Wright Quality Rating - Corporate Growth: Honda Motor Co., Ltd.
Figures are expressed on a Per Share Basis.

Wright Quality Rating ABA 12


Growth Rating ABA 12
Normal Earnings Growth 10.6%
Earnings Per Share Stability 85.7%
Adjusted Net Income Per Share Growth - Annual Rate 9.2%
Earned Equity Growth 13.7%
Dividend Growth 25.0%
Operating Income Growth 9.8%
Assets Growth 12.1%
Sales/Revenues Growth 10.3%
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