Honda first-half operating profit rises 48.1%

Operating cash flow was ¥632.855 billion; total comprehensive income fell 21.7% year over year.

Available on EDGAR 11/10/2026 - 06:04 AM EST Accepted by SEC EDGAR 11/10/2026 - 06:00 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Honda Motor Co., Ltd. reported six-month sales revenue of ¥12.037658 trillion, up 13.2% year over year, and operating profit of ¥648.737 billion, up 48.1%. Profit for the period attributable to owners of the parent was ¥516.761 billion, up 65.7%.

For the six months ended September 30, 2026, Honda recognized EV-related losses and expenses of ¥479.244 billion in cost of sales and ¥5.621 billion in research and development expenses, alongside a ¥49.722 billion gain in share of profit of equity-method investments.

On October 1, 2026, Honda completed a cash acquisition of an additional 21.0% of Astemo for ¥152.275 billion, raising its interest from 40.0% to 61.0% and making Astemo a subsidiary. Honda revised its full-year forecast for the year ending March 31, 2027, to sales revenue of ¥24.4 trillion and operating profit of ¥780 billion. Its forecast annual dividend is ¥70 per share, including ¥35 per share for the second quarter.

2 points · 0 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 1 point

How the balance works

Positive

• Moderate pointSix-month sales revenue rose 13.2% to ¥12.037658 trillion.
• Moderate pointProfit attributable to owners of the parent rose 65.7% to ¥516.761 billion.

Negative

• Moderate pointEV-related charges included ¥479.244 billion in cost of sales and ¥5.621 billion in R&D.

Filing Explained

Honda says it recognizes provisions for specific airbag warranty costs when an outflow is probable and estimable, but new recall-related evidence could require additional provisions; it cannot estimate their potential amount or timing, leaving that exposure unquantified.

Key Figures

Sales revenue: ¥12.037658 trillion Operating profit: ¥648.737 billion Profit attributable to owners of the parent: ¥516.761 billion +5 more

8 metrics

Sales revenue ¥12.037658 trillion Six months ended September 30, 2026; up 13.2% year over year

Operating profit ¥648.737 billion Six months ended September 30, 2026; up 48.1% year over year

Profit attributable to owners of the parent ¥516.761 billion Six months ended September 30, 2026; up 65.7% year over year

Total comprehensive income ¥382.707 billion Six months ended September 30, 2026; down 21.7% year over year

Operating cash flow ¥632.855 billion Six months ended September 30, 2026, compared with ¥365.861 billion in the prior-year period

Astemo acquisition consideration ¥152.275 billion Paid in cash on October 1, 2026, for an additional 21.0% interest

Honda's interest in Astemo 61.0% Following the acquisition, increased from 40.0%

Full-year sales revenue forecast ¥24.4 trillion Revised forecast for the fiscal year ending March 31, 2027

Key Terms

equity method, comprehensive income, impairment losses, provisions for EV-related losses

4 terms

equity method financial

"investments accounted for using the equity method"

An equity method investment is an accounting approach used when a company owns enough of another business to influence its decisions but not control it (commonly around 20–50% ownership). Instead of counting only dividends, the investor records its share of the other company’s profits and losses on its own income statement and adjusts the investment’s value on the balance sheet—like tracking a friend’s joint project by noting your share of their gains or setbacks. For investors, this matters because it can significantly affect reported earnings, asset values, and the apparent strength of a company’s financial results.

comprehensive income financial

"Comprehensive income for the period"

Comprehensive income is the total change in a company’s value in a reporting period that comes from everyday operations plus other gains or losses not shown on the regular profit-and-loss statement. Think of net income as the visible money earned this year and comprehensive income as that money plus hidden adjustments—such as currency swings, unrealized gains or losses on investments, and pension revaluations—that also affect shareholders’ stake and help investors see the fuller financial picture.

impairment losses financial

"impairment losses and losses on disposal"

An impairment loss is an accounting write-down when a company determines an asset (like equipment, buildings, patents, or goodwill) is worth less than its recorded value, so its book value is reduced. For investors, impairments matter because they lower reported profits and asset balance, similar to recognizing that a car is worth far less than you expected; frequent or large impairments can signal poor returns on investments or deteriorating business prospects.

provisions for EV-related losses financial

"Provisions for EV-related losses"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Honda (HMC)'s first-half financial results?

For the six months ended September 30, 2026, sales revenue was ¥12.037658 trillion, up 13.2% year over year, and operating profit was ¥648.737 billion, up 48.1%.

How much did Honda (HMC) pay for its additional Astemo stake?

Honda paid ¥152.275 billion in cash for an additional 21.0% of Astemo on October 1, 2026. Its interest increased from 40.0% to 61.0%, and Astemo became a subsidiary.

What is Honda (HMC)'s revised fiscal 2027 forecast?

For the fiscal year ending March 31, 2027, Honda's revised forecast lists ¥24.4 trillion in sales revenue and ¥780 billion in operating profit.

What dividend is Honda (HMC) forecasting for fiscal 2027?

Honda forecasts an annual dividend of ¥70 per share for the fiscal year ending March 31, 2027, and lists ¥35 per share for the second quarter.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Table of Contents

No.1-7628

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF NOVEMBER 2026

COMMISSION FILE NUMBER: 1-07628

HONDA GIKEN KOGYO KABUSHIKI KAISHA

(Name of registrant)

HONDA MOTOR CO., LTD.

(Translation of registrant’s name into English)

2-3, Toranomon 2-chome, Minato-ku, Tokyo 105-8404, Japan

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Table of Contents

Contents

Exhibit 1:

Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal first half year ended September 30, 2026.

Table of Contents

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

HONDA GIKEN KOGYO KABUSHIKI KAISHA

( HONDA MOTOR CO., LTD. )

/s/ Koji Ito

Koji Ito

General Manager

Finance Division

Honda Motor Co., Ltd.

Date: November 10, 2026

Table of Contents

Consolidated Financial Results for the Fiscal First Half Year Ended September 30, 2026 (IFRS)

November 10, 2026

Company name		: Honda Motor Co., Ltd.
Listing		: Tokyo Stock Exchange
Securities code		: 7267
URL		: https://global.honda/en/investors/
Representative		: Toshihiro Mibe, Director, President and Representative Executive Officer
Inquiries		: Sumihiro Takahashi, Head of Accounting and Finance Unit  Tel. +81-3-3423-1111
Scheduled date to file semi-annual securities report		: November 11, 2026
Scheduled date to commence dividend payments		: December 8, 2026
Supplemental materials prepared for consolidated financial results		: Yes
Holdings of financial results meeting		: Yes

(Amounts are rounded to the nearest million yen)

1. Consolidated Financial Results for the Six Months Ended September 30, 2026 (from April 1, 2026 to September 30, 2026)

(1) Consolidated operating results (for the six months ended September 30) (% of change from the same period of the previous fiscal year)

		Sales revenue								Operating profit								Profit before income taxes								Profit for the period								Profit for the period attributable to owners of the parent								Comprehensive income for the period
Six months ended			Yen (millions)				%				Yen (millions)				%				Yen (millions)				%				Yen (millions)				%				Yen (millions)				%				Yen (millions)				%
September 30, 2026			12,037,658				13.2				648,737				48.1				740,851				40.5				560,191				60.7				516,761				65.7				382,707				-21.7
September 30, 2025			10,632,680				-1.5				438,144				-41.0				527,419				-28.9				348,656				-33.8				311,829				-37.0				488,706				244.3

		Earnings per share attributable to owners of the parent - Basic				Earnings per share attributable to owners of the parent - Diluted
Six months ended		Yen				Yen
September 30, 2026		132.75				132.75
September 30, 2025		76.30				76.30

Explanatory note:

Basic and diluted earnings per share are calculated based on the profit for the period attributable to owners of the parent.

(2) Consolidated financial position

		Total assets				Total equity				Equity attributable to owners of the parent				Ratio of equity attributable to owners of the parent to total assets
As of			Yen (millions)				Yen (millions)				Yen (millions)				%
September 30, 2026			33,968,422				12,291,642				12,036,750				35.4
March 31, 2026			33,509,285				12,148,072				11,817,512				35.3

2. Dividends

		Annual dividends per share
		First quarter-end				Second quarter-end				Third quarter-end				Fiscal year-end				Total
		Yen				Yen				Yen				Yen				Yen
Fiscal year ended March 31, 2026			—				35.00				—				35.00				70.00
Fiscal year ending March 31, 2027			—				35.00
Fiscal year ending March 31, 2027 (forecast)											—				35.00				70.00

Explanatory note:

Revisions to the forecast of dividends most recently announced: None

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending March 31, 2027 (from April 1, 2026 to March 31, 2027)

(% of change from the previous fiscal year)

		Sales revenue								Operating profit								Profit before income taxes								Profit for the year								Profit for the year attributable to owners of the parent								Earnings per share attributable to owners of the parent
			Yen (millions	)			%				Yen (millions	)			%				Yen (millions	)			%				Yen (millions	)			%				Yen (millions	)			%				Yen
Full-year			24,400,000				11.9				780,000				—				790,000				—				580,000				—				500,000				—				128.44

Explanatory note:

Revisions to the forecast of consolidated financial results most recently announced: Yes

Table of Contents

*Explanatory notes

(1) Significant changes in the scope of consolidation during the period: None

Newly included:		- companies		(Company name: -)
Excluded:		- companies		(Company name: -)

(2) Changes in accounting policies and changes in accounting estimates

(i)		Changes in accounting policies required by IFRS			:			None
(ii)		Changes in accounting policies due to other reason			:			None
(iii)		Changes in accounting estimates			:			None

(3) Number of issued shares (common shares)

(i) Number of issued shares at the end of the period (including treasury stock)

As of September 30, 2026		4,533,000,000 shares
As of March 31, 2026		4,533,000,000 shares

(ii) Number of treasury stock at the end of the period

As of September 30, 2026		639,982,995 shares
As of March 31, 2026		640,419,559 shares

(iii) Average number of shares outstanding during the period

Six months ended September 30, 2026		3,892,829,649 shares
Six months ended September 30, 2025		4,087,037,741 shares

* This consolidated financial results are exempt from review conducted by certified public accountants or an audit firm.

* Proper use of earning forecasts, and other special matters

This announcement contains “forward-looking statements” as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based on management’s assumptions and beliefs taking into account information currently available to it. Therefore, please be advised that the actual results of the Company could differ materially from those described in these forward-looking statements as a result of numerous factors, including general economic conditions in the principal markets of the Company, its consolidated subsidiaries and its affiliates accounted for by the equity-method, and fluctuation of foreign exchange rates, as well as other factors detailed from time to time.

Honda’s American Depositary Shares are listed and traded on the New York Stock Exchange. One American Depositary Share represents three common shares.

This document, Form 6-K (to be submitted to the U.S. Securities and Exchange Commission), is submitted to the Tokyo Stock Exchange as English translation of the Japanese original. Therefore, there are some discrepancies between this translated document and the Japanese original.

For supplemental materials prepared for consolidated financial results and other information, please refer to Honda’s Investor Relations website (URL https://global.honda/en/investors/).

Table of Contents

TABLE OF CONTENTS

Consolidated Financial Results for the Fiscal First Half Year Ended September 30, 2026

Condensed Consolidated Interim Financial Statements and Notes to Condensed Consolidated Interim Financial Statements			2
[1] Condensed Consolidated Statements of Financial Position			2
[2] Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income			3
Condensed Consolidated Statements of Income			3
Condensed Consolidated Statements of Comprehensive Income			4
[3] Condensed Consolidated Statements of Changes in Equity			5
[4] Condensed Consolidated Statements of Cash Flows			6
[5] Assumptions for Going Concern			7
[6] Notes to Condensed Consolidated Interim Financial Statements			7

—1—

Table of Contents

Condensed Consolidated Interim Financial Statements and Notes to Condensed Consolidated Interim Financial Statements

[1] Condensed Consolidated Statements of Financial Position

March 31, 2026 and September 30, 2026

		Yen (millions)
		Mar. 31, 2026				Sep. 30, 2026
Assets
Current assets:
Cash and cash equivalents			5,066,828				5,503,834
Trade receivables			1,270,476				1,130,093
Receivables from financial services			3,057,235				3,052,669
Other financial assets			296,974				190,324
Inventories			2,531,166				2,550,277
Other current assets			852,073				816,107
Total current assets			13,074,752				13,243,304
Non-current assets:
Investments accounted for using the equity method			1,128,118				1,204,935
Receivables from financial services			6,836,261				6,786,549
Other financial assets			1,211,519				946,250
Equipment on operating leases			6,433,793				6,499,899
Property, plant and equipment			3,196,382				3,744,102
Intangible assets			784,760				762,307
Deferred tax assets			301,011				266,996
Other non-current assets			542,689				514,080
Total non-current assets			20,434,533				20,725,118
Total assets			33,509,285				33,968,422
Liabilities and Equity
Current liabilities:
Trade payables			1,781,598				1,831,166
Financing liabilities			5,004,712				4,951,646
Accrued expenses			996,653				838,491
Other financial liabilities			264,598				282,134
Income taxes payable			109,036				155,934
Provisions			948,252				944,218
Other current liabilities			1,099,631				1,005,635
Total current liabilities			10,204,480				10,009,224
Non-current liabilities:
Financing liabilities			8,475,151				8,956,593
Other financial liabilities			316,498				514,921
Retirement benefit liabilities			309,885				309,163
Provisions			735,224				656,066
Deferred tax liabilities			677,391				625,188
Other non-current liabilities			642,584				605,625
Total non-current liabilities			11,156,733				11,667,556
Total liabilities			21,361,213				21,676,780
Equity:
Common stock			86,067				86,067
Capital surplus			204,894				207,622
Treasury stock			(896,927	)			(896,312	)
Retained earnings			9,375,989				9,868,741
Other components of equity			3,047,489				2,770,632
Equity attributable to owners of the parent			11,817,512				12,036,750
Non-controlling interests			330,560				254,892
Total equity			12,148,072				12,291,642
Total liabilities and equity			33,509,285				33,968,422

—2—

Table of Contents

[2] Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income

Condensed Consolidated Statements of Income

For the six months ended September 30, 2025 and 2026

		Yen (millions)
		Six months ended Sep. 30, 2025				Six months ended Sep. 30, 2026
Sales revenue			10,632,680				12,037,658
Operating costs and expenses:
Cost of sales			(8,483,760	)			(9,817,353	)
Selling, general and administrative			(1,126,526	)			(1,076,005	)
Research and development			(584,250	)			(495,563	)
Total operating costs and expenses			(10,194,536	)			(11,388,921	)
Operating profit			438,144				648,737
Share of profit (loss) of investments accounted for using the equity method			10,895				85,294
Finance income and finance costs:
Interest income			81,756				97,493
Interest expense			(29,348	)			(42,273	)
Other, net			25,972				(48,400	)
Total finance income and finance costs			78,380				6,820
Profit before income taxes			527,419				740,851
Income tax expense			(178,763	)			(180,660	)
Profit for the period			348,656				560,191
Profit for the period attributable to:
Owners of the parent			311,829				516,761
Non-controlling interests			36,827				43,430
		Yen
Earnings per share attributable to owners of the parent
Basic and diluted			76.30				132.75

—3—

Table of Contents

Condensed Consolidated Statements of Comprehensive Income

For the six months ended September 30, 2025 and 2026

		Yen (millions)
		Six months ended Sep. 30, 2025				Six months ended Sep. 30, 2026
Profit for the period			348,656				560,191
Other comprehensive income, net of tax:
Items that will not be reclassified to profit or loss
Remeasurements of defined benefit plans			(16,640	)			—
Net changes in revaluation of financial assets measured at fair value through other comprehensive income			109,162				(11,820	)
Share of other comprehensive income of investments accounted for using the equity method			435				1,248
Items that may be reclassified subsequently to profit or loss
Net changes in revaluation of financial assets measured at fair value through other comprehensive income			139				(820	)
Exchange differences on translating foreign operations			66,225				(152,123	)
Cash flow hedges			4,102				(11,510	)
Share of other comprehensive income of investments accounted for using the equity method			(23,373	)			(2,459	)
Total other comprehensive income, net of tax			140,050				(177,484	)
Comprehensive income for the period			488,706				382,707
Comprehensive income for the period attributable to:
Owners of the parent			448,940				351,825
Non-controlling interests			39,766				30,882

—4—

Table of Contents

[3] Condensed Consolidated Statements of Changes in Equity

For the six months ended September 30, 2025

		Yen (millions)
		Equity attributable to owners of the parent																								Non-controlling interests				Total equity
		Common stock				Capital surplus				Treasury stock				Retained earnings				Other components of equity				Total
Balance as of April 1, 2025			86,067				205,299				(1,272,845	)			11,122,187				2,185,821				12,326,529				301,293				12,627,822
Comprehensive income for the period
Profit for the period															311,829								311,829				36,827				348,656
Other comprehensive income, net of tax																			137,111				137,111				2,939				140,050
Total comprehensive income for the period															311,829				137,111				448,940				39,766				488,706
Reclassification to retained earnings															(14,546	)			14,546				—								—
Transactions with owners and other
Dividends paid															(147,960	)							(147,960	)			(59,439	)			(207,399	)
Purchases of treasury stock											(670,931	)											(670,931	)							(670,931	)
Disposal of treasury stock											750												750								750
Share-based payment transactions							(248	)															(248	)							(248	)
Total transactions with owners and other							(248	)			(670,181	)			(147,960	)							(818,389	)			(59,439	)			(877,828	)
Other changes															683								683								683
Balance as of September 30, 2025			86,067				205,051				(1,943,026	)			11,272,193				2,337,478				11,957,763				281,620				12,239,383

For the six months ended September 30, 2026

		Yen (millions)
		Equity attributable to owners of the parent																								Non-controlling interests				Total equity
		Common stock				Capital surplus				Treasury stock				Retained earnings				Other components of equity				Total
Balance as of April 1, 2026			86,067				204,894				(896,927	)			9,375,989				3,047,489				11,817,512				330,560				12,148,072
Comprehensive income for the period
Profit for the period															516,761								516,761				43,430				560,191
Other comprehensive income, net of tax																			(164,936	)			(164,936	)			(12,548	)			(177,484	)
Total comprehensive income for the period															516,761				(164,936	)			351,825				30,882				382,707
Reclassification to retained earnings															112,421				(112,421	)			—								—
Transactions with owners and other
Dividends paid															(136,430	)							(136,430	)			(71,155	)			(207,585	)
Purchases of treasury stock											(0	)											(0	)							(0	)
Disposal of treasury stock											615												615								615
Share-based payment transactions							(231	)															(231	)							(231	)
Equity transactions and others							2,959												500				3,459				(3,459	)			—
Total transactions with owners and other							2,728				615				(136,430	)			500				(132,587	)			(74,614	)			(207,201	)
Other changes																											(31,936	)			(31,936	)
Balance as of September 30, 2026			86,067				207,622				(896,312	)			9,868,741				2,770,632				12,036,750				254,892				12,291,642

—5—

Table of Contents

[4] Condensed Consolidated Statements of Cash Flows

For the six months ended September 30, 2025 and 2026

		Yen (millions)
		Six months ended Sep. 30, 2025				Six months ended Sep. 30, 2026
Cash flows from operating activities:
Profit before income taxes			527,419				740,851
Depreciation, amortization and impairment losses excluding equipment on operating leases			479,023				304,855
Share of (profit) loss of investments accounted for using the equity method			(10,895	)			(85,294	)
Finance income and finance costs, net			12,776				(107,002	)
Interest income and interest costs from financial services, net			(92,639	)			(107,457	)
Changes in assets and liabilities
Trade receivables			162,755				142,680
Inventories			23,078				(60,204	)
Trade payables			(95,022	)			(80,348	)
Accrued expenses			(96,178	)			(139,706	)
Provisions and retirement benefit liabilities			52,003				307,956
Receivables from financial services			(184,470	)			(112,775	)
Equipment on operating leases			(280,600	)			(161,466	)
Other assets and liabilities			(191,431	)			(44,096	)
Other, net			54,342				(20,593	)
Dividends received			59,858				65,357
Interest received			374,017				439,900
Interest paid			(227,939	)			(288,676	)
Income taxes paid, net of refunds			(200,236	)			(161,127	)
Net cash provided by operating activities			365,861				632,855
Cash flows from investing activities:
Payments for additions to property, plant and equipment			(233,686	)			(825,072	)
Payments for additions to and internally developed intangible assets			(130,948	)			(100,608	)
Proceeds from sales of property, plant and equipment and intangible assets			12,277				70,153
Proceeds from sales of subsidiaries, net of cash and cash equivalents disposed of			—				(36,872	)
Payments for acquisitions of investments accounted for using the equity method			(45,825	)			(13,434	)
Proceeds from sales of investments accounted for using the equity method			13,034				1,007
Payments for acquisitions of other financial assets			(116,397	)			(100,424	)
Proceeds from sales and redemptions of other financial assets			144,821				345,598
Net cash used in investing activities			(356,724	)			(659,652	)
Cash flows from financing activities:
Proceeds from short-term financing liabilities			4,060,685				4,687,087
Repayments of short-term financing liabilities			(4,537,483	)			(4,369,361	)
Proceeds from long-term financing liabilities			2,858,963				2,313,160
Repayments of long-term financing liabilities			(1,372,396	)			(1,935,540	)
Dividends paid to owners of the parent			(147,960	)			(136,430	)
Dividends paid to non-controlling interests			(52,092	)			(55,901	)
Purchases and sales of treasury stock, net			(670,181	)			(0	)
Repayments of lease liabilities			(40,118	)			(38,510	)
Net cash provided by financing activities			99,418				464,505
Effect of exchange rate changes on cash and cash equivalents			40,544				(52,351	)
Net change in cash and cash equivalents			149,099				385,357
Cash and cash equivalents at beginning of year			4,528,795				5,118,477
Cash and cash equivalents at end of period			4,677,894				5,503,834

—6—

Table of Contents

[5] Assumptions for Going Concern

None

[6] Notes to Condensed Consolidated Interim Financial Statements

[A] Segment Information

Based on Honda’s organizational structure and characteristics of products and services, Honda discloses segment information in four categories: Reportable segments of Motorcycle business, Automobile business and Financial services business, and other segments that are not reportable. The other segments are combined and disclosed in Power products and other businesses. Segment information is based on the components of Honda for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The accounting policies used for segment information are consistent with the accounting policies used in the Company’s condensed consolidated interim financial statements.

Principal products and services, and functions of each segment are as follows:

Segment		Principal products and services		Functions
Motorcycle Business		Motorcycles, all-terrain vehicles (ATVs), side-by-sides (SxS) and relevant parts		Research and development Manufacturing Sales and related services
Automobile Business		Automobiles and relevant parts		Research and development Manufacturing Sales and related services
Financial Services Business		Financial services		Retail loan and lease related to Honda products Others
Power Products and Other Businesses		Power products and relevant parts, and others		Research and development Manufacturing Sales and related services Others

—7—

Table of Contents

Segment information based on products and services

As of and for the six months ended September 30, 2025

		Yen (millions)
		Motorcycle Business				Automobile Business				Financial Services Business				Power Products and Other Businesses				Segment Total				Reconciling Items				Consolidated
Sales revenue:
External customers			1,920,724				6,859,418				1,676,971				175,567				10,632,680				—				10,632,680
Intersegment			—				140,874				1,846				17,591				160,311				(160,311	)			—
Total			1,920,724				7,000,292				1,678,817				193,158				10,792,991				(160,311	)			10,632,680
Segment profit (loss)			368,277				(73,060	)			143,224				(297	)			438,144				—				438,144
Segment assets			2,321,404				11,813,252				16,191,676				534,452				30,860,784				630,435				31,491,219
Depreciation and amortization			35,040				310,129				455,735				7,889				808,793				—				808,793
Capital expenditures			43,140				263,569				1,376,166				7,401				1,690,276				—				1,690,276

As of and for the six months ended September 30, 2026

		Yen (millions)
		Motorcycle Business				Automobile Business				Financial Services Business				Power Products and Other Businesses				Segment Total				Reconciling Items				Consolidated
Sales revenue:
External customers			2,272,519				7,541,807				2,028,742				194,590				12,037,658				—				12,037,658
Intersegment			—				141,064				1,737				14,540				157,341				(157,341	)			—
Total			2,272,519				7,682,871				2,030,479				209,130				12,194,999				(157,341	)			12,037,658
Segment profit (loss)			439,057				(5,785	)			210,997				4,468				648,737				—				648,737
Segment assets			2,562,044				12,611,953				17,289,552				594,157				33,057,706				910,716				33,968,422
Depreciation and amortization			40,097				282,303				520,080				7,374				849,854				—				849,854
Capital expenditures			85,719				820,589				1,556,226				7,986				2,470,520				—				2,470,520

Explanatory notes:

1. Intersegment sales revenues are generally made at values that approximate arm’s-length prices.

2. Reconciling items include elimination of intersegment transactions and balances as well as unallocated corporate assets. Unallocated corporate assets, included in reconciling items as of September 30, 2025 and 2026 amounted to JPY 919,514 million and JPY 1,362,736 million, respectively, which consist primarily of the Company’s cash and cash equivalents and financial assets measured at fair value through other comprehensive income.

—8—

Table of Contents

Impact on Automobile business due to changes in the EV market environment

Given the changes in the EV (electric vehicle) market environment, during the year ended March 31, 2026, the Company revised its product launch plans and reassessed its automobile electrification strategy and made decisions, including the cancellation of development and market launch of certain EV models. As a result, for the year ended March 31, 2026, the Company and its certain consolidated subsidiaries recognized losses and expenses including impairment losses and losses on disposal of the related non-financial assets, impairment losses on investments accounted for using the equity method, and provisions for EV-related losses. In the EV-related losses, as a result of the revision of the product launch plans described above, the Company and its certain consolidated subsidiaries recognized losses and expenses of JPY 139,888 million in cost of sales, JPY 8,130 million in selling, general and administrative expenses, and JPY 89,245 million in research and development expenses in the condensed consolidated statements of income for the six months ended September 30, 2025.

In connection with these EV-related losses, for the six months ended September 30, 2026, the Company and its certain consolidated subsidiaries recognized losses and expenses of JPY 479,244 million in cost of sales, and JPY 5,621 million in research and development expenses, and gains of JPY 49,722 million in share of profit (loss) of investments accounted for using the equity method in the condensed consolidated statements of income. These gains, losses and expenses are included in Automobile business. The major components of these gains, losses and expenses are as follows.

Share of profit (loss) of investments accounted for using the equity method

Share of profit (loss) of investments accounted for using the equity method includes a net gain of JPY 41,789 million recognized by an affiliate of the Company, consisting of compensation from a certain consolidated subsidiary of the Company, partially offset by the associated EV-related losses.

Provisions for EV-related losses

Provisions for EV-related losses include provisions recognized due to changes in the EV market environment and the reassessment of the automobile electrification strategy. Additional provisions recognized mainly include JPY 508,692 million losses or expenses arising from compensation to suppliers in connection with the procurement of parts of EV models, based on discussions with the suppliers.

[B] Subsequent Event

Business combinations

The Company acquired an additional 21.0% of the common shares of Astemo, Ltd. (“Astemo”), an affiliate accounted for using the equity method. The acquisition was completed on October 1, 2026. The consideration for the acquisition of JPY 152,275 million was paid in cash. Following the acquisition, the Company’s equity interest in Astemo increased from 40.0% to 61.0%, and Astemo became a subsidiary of the Company.

Astemo engages in the development, manufacture, sales and services of automotive components, transportation related components, industrial machines and systems.

Astemo has strengths in both hardware and software technologies and will continue to be an important partner for the Company, and the growth of Astemo is indispensable for the Company to enhance its software-defined vehicle (“SDV”) development capabilities and cost competitiveness. In the face of the rapid and intense changes in the automotive business environment, it is essential for the Company, as the parent company of Astemo, to lead the transformation of Astemo so that Astemo can pursue the establishment of a business structure that enables the highly efficient and rapid development of AI and software technologies, which will become increasingly necessary in the era of SDVs.

—9—

Table of Contents

Due to the timing of the business combination, the initial accounting for the business combination has not yet been completed as of the date of this report. Consequently, the Company is unable to provide certain disclosures including the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed.

[C] Other

Loss related to airbag inflators

Honda has been conducting market-based measures in relation to airbag inflators. Honda recognizes a provision for specific warranty costs when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. There is a possibility that Honda will need to recognize additional provisions when new evidence related to the product recalls arises, however, it is not possible for Honda to reasonably estimate the amount and timing of potential future losses as of the date of this report.

—10—