Welcome to our dedicated page for Honda Motor news (Ticker: HMC), a resource for investors and traders seeking the latest updates and insights on Honda Motor stock.
Honda Motor Co., Ltd. reports recurring developments for a global manufacturer of automobiles, motorcycles and power products whose American depositary shares trade under HMC. Company updates center on consolidated financial results, segment performance in motorcycle and automobile operations, currency and tariff effects, financial forecasts and shareholder-return actions such as share repurchases, cancellations and dividend policy.
Honda news also covers its electrification strategy, including EV and HEV sales, costs tied to electric-vehicle programs, and collaboration on lithium-ion battery recycling technologies. As a foreign issuer, the company also announces Form 20-F filings and other investor disclosures connected to its ADR program and parent-company reporting.
Honda Motor Co., (HMC) has filed its annual report on Form 20-F for the fiscal year ending March 31, 2024, with the Securities and Exchange Commission.
The report provides comprehensive details about Honda's financial performance, including revenue, earnings, and other key metrics. It is available online at the SEC's website and Honda's investor relations page.
Investors and stakeholders can access the full report to gain insights into the company's performance and strategic direction.
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Honda and LG Energy Solution (LGES) have commenced construction on a new joint venture EV battery plant in Fayette County, Ohio, marking an initial investment of $3.5 billion projected to reach $4.4 billion. The facility, covering over 2 million sq. ft., aims to be operational by the end of 2024 and will support mass production of lithium-ion batteries for Honda's EV production by late 2025. The JV is anticipated to create 2,200 jobs and will produce approximately 40GWh of batteries annually. Honda, aiming for carbon neutrality by 2050, plans to invest an additional $700 million in Ohio for re-tooling existing plants for EV production.
Honda reported a consolidated operating profit of 733.9 billion yen for the nine months ending December 31, 2022, an increase of 62.2 billion yen year-on-year, despite challenges from semiconductor shortages and rising production costs due to inflation. The company's sales revenue rose to 12,523.4 billion yen, up 17.3% compared to the previous year, attributed to increased motorcycle sales and favorable currency effects. Honda maintained its FY23 operating profit forecast of 870.0 billion yen and announced a share buyback worth 70.0 billion yen to enhance capital efficiency. Profit attributable to owners reached 583.1 billion yen, reflecting a slight increase of 0.2%.
LG Energy Solution and Honda Motor Co. have officially established a joint venture to produce lithium-ion batteries for Honda's electric vehicles (EVs). The new facility, located in Fayette County, Ohio, will create approximately 2,200 jobs and involves a combined investment of $4.4 billion. Construction will begin early this year, aiming for plant completion by late 2024, with mass production expected by the end of 2025. The facility will have an annual production capacity of around 40GWh, exclusively supplying batteries to Honda's North American operations.
Honda Motor Co. reported a consolidated operating profit of 453.4 billion yen for the first half of FY23, marking an increase of 11.2 billion yen year-over-year. Despite challenges like decreased auto production and rising raw material costs, revenue climbed to 8,085.3 billion yen, a 15.7% increase. However, profit attributable to owners fell by 50.6 billion yen to 338.5 billion yen. The company revised its full-year operating profit forecast upwards by 40 billion yen to 870 billion yen, with expectations for continued motorcycle sales growth in Asia.