[6-K] HONDA MOTOR CO LTD Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Honda Motor Co., Ltd. reported consolidated first‑half FY2025 results (six months ended September 30, 2025). Sales revenue was ¥10,632,680 million, down 1.5%. Operating profit fell to ¥438,144 million (−41.0%), profit before income taxes to ¥527,419 million (−28.9%), and profit for the period to ¥348,656 million (−33.8%). Profit attributable to owners was ¥311,829 million (−37.0%), with EPS of ¥76.30 versus ¥103.25 a year ago.

Management cited an EV market slowdown, canceling a certain EV model and discontinuing/reducing some alliance-developed EVs. Related losses and expenses were recognized in the Automobile business: ¥139,888 million in cost of sales, ¥8,130 million in SG&A, and ¥89,245 million in R&D. Comprehensive income rose to ¥488,706 million, aided by other comprehensive items. The equity ratio was 38.0% (vs. 40.1% at March 31, 2025).

Operating cash flow improved to ¥365,861 million. The second‑quarter dividend is ¥35.00 per share, with a full‑year forecast total of ¥70.00. Full‑year outlook calls for sales revenue of ¥20,700,000 million (−4.6%) and operating profit of ¥550,000 million (−54.7%).

Insights

Equity & Credit Analyst

Material margin compression and EV reset drive weaker outlook.

Honda posted softer H1 metrics under IFRS: sales revenue ¥10,632,680 million (−1.5%), operating profit ¥438,144 million (−41.0%), and profit attributable to owners ¥311,829 million (−37.0%). EPS was ¥76.30. The Automobile segment absorbed EV‑related costs after plan revisions, while comprehensive income rebounded on other comprehensive items.

Management revised EV strategy amid slower demand in North America and Europe, lowering the 2030 global EV sales ratio expectation to 20% from 30%. H1 recognized charges in the Automobile business: cost of sales ¥139,888 million, SG&A ¥8,130 million, and R&D ¥89,245 million. These items pressured margins and inform the weaker full‑year profile.

Full‑year guidance targets sales revenue ¥20,700,000 million (−4.6%) and operating profit ¥550,000 million (−54.7%). Operating cash flow improved to ¥365,861 million, and the dividend plan totals ¥70.00 per share. Actual impact depends on demand trends and alliance outcomes disclosed in future reports.

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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 2025

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): ☐

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Contents

Exhibit 1:

Honda Motor Co., Ltd. announced its consolidated financial results for the fiscal first half year ended September 30, 2025.

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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 7, 2025

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Consolidated Financial Results for the Fiscal First Half Year Ended September 30, 2025 (IFRS)

November 7, 2025

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		: Masao Kawaguchi, Head of Accounting and Finance Unit  Tel. +81-3-3423-1111
Scheduled date to file semi-annual securities report		: November 11, 2025
Scheduled date to commence dividend payments		: December 5, 2025
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, 2025 (from April 1, 2025 to September 30, 2025)

(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, 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
September 30, 2024			10,797,613				12.4				742,608				6.6				741,953				-15.6				526,847				-19.4				494,683				-19.7				141,946				-90.4

		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, 2025		76.30				76.30
September 30, 2024		103.25				103.25

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, 2025			31,491,219				12,239,383				11,957,763				38.0
March 31, 2025			30,775,867				12,627,822				12,326,529				40.1

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, 2025			—				34.00				—				34.00				68.00
Fiscal year ending March 31, 2026			—				35.00
Fiscal year ending March 31, 2026 (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, 2026 (from April 1, 2025 to March 31, 2026)

(% 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			20,700,000				-4.6				550,000				-54.7				590,000				-55.2				355,000				-60.7				300,000				-64.1				75.05

Explanatory note:

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

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*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, 2025		5,280,000,000 shares
As of March 31, 2025		5,280,000,000 shares

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

As of September 30, 2025		1,387,449,386 shares
As of March 31, 2025		933,490,429 shares

(iii) Average number of shares outstanding during the period

Six months ended September 30, 2025		4,087,037,741 shares
Six months ended September 30, 2024		4,790,956,696 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 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/).

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Consolidated Financial Results for the Fiscal First Half Year Ended September 30, 2025

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 For the six months ended September 30, 2024 and 2025			3
Condensed Consolidated Statements of Comprehensive Income For the six months ended September 30, 2024 and 2025			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

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

[1] Condensed Consolidated Statements of Financial Position

March 31, 2025 and September 30, 2025

		Yen (millions)
		Mar. 31, 2025				Sep. 30, 2025
Assets
Current assets:
Cash and cash equivalents			4,528,795				4,635,273
Trade receivables			1,160,847				995,998
Receivables from financial services			2,755,800				2,821,143
Other financial assets			208,478				207,039
Inventories			2,470,590				2,437,473
Other current assets			563,252				877,539
Total current assets			11,687,762				11,974,465
Non-current assets:
Investments accounted for using the equity method			1,242,614				1,219,557
Receivables from financial services			6,172,817				6,349,900
Other financial assets			873,459				1,076,186
Equipment on operating leases			5,748,187				5,998,159
Property, plant and equipment			3,209,921				3,123,296
Intangible assets			1,126,019				1,045,087
Deferred tax assets			143,499				158,477
Other non-current assets			571,589				546,092
Total non-current assets			19,088,105				19,516,754
Total assets			30,775,867				31,491,219
Liabilities and Equity
Current liabilities:
Trade payables			1,663,487				1,520,260
Financing liabilities			4,497,747				4,471,379
Accrued expenses			728,935				635,008
Other financial liabilities			276,861				253,282
Income taxes payable			108,562				148,707
Provisions			388,441				468,321
Other current liabilities			951,124				975,118
Total current liabilities			8,615,157				8,472,075
Non-current liabilities:
Financing liabilities			6,953,520				8,133,269
Other financial liabilities			301,439				311,743
Retirement benefit liabilities			288,472				291,937
Provisions			667,274				645,256
Deferred tax liabilities			718,084				778,776
Other non-current liabilities			604,099				618,780
Total non-current liabilities			9,532,888				10,779,761
Total liabilities			18,148,045				19,251,836
Equity:
Common stock			86,067				86,067
Capital surplus			205,299				205,051
Treasury stock			(1,272,845	)			(1,943,026	)
Retained earnings			11,122,187				11,272,193
Other components of equity			2,185,821				2,337,478
Equity attributable to owners of the parent			12,326,529				11,957,763
Non-controlling interests			301,293				281,620
Total equity			12,627,822				12,239,383
Total liabilities and equity			30,775,867				31,491,219

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[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, 2024 and 2025

		Yen (millions)
		Six months ended Sep. 30, 2024				Six months ended Sep. 30, 2025
Sales revenue			10,797,613				10,632,680
Operating costs and expenses:
Cost of sales			(8,451,364	)			(8,483,760	)
Selling, general and administrative			(1,125,099	)			(1,126,526	)
Research and development			(478,542	)			(584,250	)
Total operating costs and expenses			(10,055,005	)			(10,194,536	)
Operating profit			742,608				438,144
Share of profit (loss) of investments accounted for using the equity method			(20,759	)			10,895
Finance income and finance costs:
Interest income			100,693				81,756
Interest expense			(24,996	)			(29,348	)
Other, net			(55,593	)			25,972
Total finance income and finance costs			20,104				78,380
Profit before income taxes			741,953				527,419
Income tax expense			(215,106	)			(178,763	)
Profit for the period			526,847				348,656
Profit for the period attributable to:
Owners of the parent			494,683				311,829
Non-controlling interests			32,164				36,827
		Yen
Earnings per share attributable to owners of the parent
Basic and diluted			103.25				76.30

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Condensed Consolidated Statements of Comprehensive Income

For the six months ended September 30, 2024 and 2025

		Yen (millions)
		Six months ended Sep. 30, 2024				Six months ended Sep. 30, 2025
Profit for the period			526,847				348,656
Other comprehensive income, net of tax:
Items that will not be reclassified to profit or loss
Remeasurements of defined benefit plans			(1	)			(16,640	)
Net changes in revaluation of financial assets measured at fair value through other comprehensive income			10,627				109,162
Share of other comprehensive income of investments accounted for using the equity method			(5,134	)			435
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			650				139
Exchange differences on translating foreign operations			(409,590	)			66,225
Cash flow hedges			—				4,102
Share of other comprehensive income of investments accounted for using the equity method			18,547				(23,373	)
Total other comprehensive income, net of tax			(384,901	)			140,050
Comprehensive income for the period			141,946				488,706
Comprehensive income for the period attributable to:
Owners of the parent			107,112				448,940
Non-controlling interests			34,834				39,766

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[3] Condensed Consolidated Statements of Changes in Equity

For the six months ended September 30, 2024

		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, 2024			86,067				205,073				(550,808	)			10,644,213				2,312,450				12,696,995				308,877				13,005,872
Comprehensive income for the period
Profit for the period															494,683								494,683				32,164				526,847
Other comprehensive income, net of tax																			(387,571	)			(387,571	)			2,670				(384,901	)
Total comprehensive income for the period															494,683				(387,571	)			107,112				34,834				141,946
Reclassification to retained earnings															18,506				(18,506	)			—								—
Transactions with owners and other
Dividends paid															(188,418	)							(188,418	)			(62,599	)			(251,017	)
Purchases of treasury stock											(224,716	)											(224,716	)							(224,716	)
Disposal of treasury stock											322												322								322
Share-based payment transactions							149																149								149
Total transactions with owners and other							149				(224,394	)			(188,418	)							(412,663	)			(62,599	)			(475,262	)
Balance as of September 30, 2024			86,067				205,222				(775,202	)			10,968,984				1,906,373				12,391,444				281,112				12,672,556

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

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[4] Condensed Consolidated Statements of Cash Flows

For the six months ended September 30, 2024 and 2025

		Yen (millions)
		Six months ended Sep. 30, 2024				Six months ended Sep. 30, 2025
Cash flows from operating activities:
Profit before income taxes			741,953				527,419
Depreciation, amortization and impairment losses excluding equipment on operating leases			366,806				479,023
Share of (profit) loss of investments accounted for using the equity method			20,759				(10,895	)
Finance income and finance costs, net			(37,677	)			12,776
Interest income and interest costs from financial services, net			(84,567	)			(92,639	)
Changes in assets and liabilities
Trade receivables			245,994				162,755
Inventories			(128,762	)			23,078
Trade payables			(50,094	)			(95,022	)
Accrued expenses			(45,638	)			(96,178	)
Provisions and retirement benefit liabilities			46,916				52,003
Receivables from financial services			(578,916	)			(184,470	)
Equipment on operating leases			(260,142	)			(280,600	)
Other assets and liabilities			(82,529	)			(191,431	)
Other, net			12,942				54,342
Dividends received			81,233				59,858
Interest received			362,299				374,017
Interest paid			(213,162	)			(227,939	)
Income taxes paid, net of refunds			(328,724	)			(200,236	)
Net cash provided by operating activities			68,691				365,861
Cash flows from investing activities:
Payments for additions to property, plant and equipment			(222,043	)			(233,686	)
Payments for additions to and internally developed intangible assets			(142,576	)			(130,948	)
Proceeds from sales of property, plant and equipment and intangible assets			2,058				12,277
Payments for acquisitions of investments accounted for using the equity method			(60,047	)			(45,825	)
Proceeds from sales of investments accounted for using the equity method			8,858				13,034
Payments for acquisitions of other financial assets			(249,330	)			(116,397	)
Proceeds from sales and redemptions of other financial assets			143,974				144,821
Net cash used in investing activities			(519,106	)			(356,724	)
Cash flows from financing activities:
Proceeds from short-term financing liabilities			4,282,239				4,060,685
Repayments of short-term financing liabilities			(4,188,493	)			(4,537,483	)
Proceeds from long-term financing liabilities			1,840,856				2,858,963
Repayments of long-term financing liabilities			(1,120,027	)			(1,372,396	)
Dividends paid to owners of the parent			(188,418	)			(147,960	)
Dividends paid to non-controlling interests			(46,947	)			(52,092	)
Purchases and sales of treasury stock, net			(224,394	)			(670,181	)
Repayments of lease liabilities			(37,215	)			(40,118	)
Net cash provided by financing activities			317,601				99,418
Effect of exchange rate changes on cash and cash equivalents			(199,462	)			40,544
Net change in cash and cash equivalents			(332,276	)			149,099
Cash and cash equivalents at beginning of year			4,954,565				4,528,795
Cash and cash equivalents at end of period			4,622,289				4,677,894

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[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

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Segment information based on products and services

As of and for the six months ended September 30, 2024

		Yen (millions)
		Motorcycle Business				Automobile Business				Financial Services Business				Power Products and Other Businesses				Segment Total				Reconciling Items				Consolidated
Sales revenue:
External customers			1,810,786				6,987,551				1,811,879				187,397				10,797,613				—				10,797,613
Intersegment			—				142,974				2,639				15,846				161,459				(161,459	)			—
Total			1,810,786				7,130,525				1,814,518				203,243				10,959,072				(161,459	)			10,797,613
Segment profit (loss)			325,852				258,037				162,707				(3,988	)			742,608				—				742,608
Segment assets			2,027,742				11,357,893				14,236,061				540,716				28,162,412				1,111,467				29,273,879
Depreciation and amortization			35,855				319,282				431,182				8,030				794,349				—				794,349
Capital expenditures			28,702				295,368				1,571,614				5,161				1,900,845				—				1,900,845

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

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, 2024 and 2025 amounted to JPY 1,399,039 million and JPY 919,514 million, respectively, which consist primarily of the Company’s cash and cash equivalents and financial assets measured at fair value through other comprehensive income.

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Table of Contents

Impact of changes in EV market environment

Due to the slowdown in the expansion of the electric vehicle (EV) market in regions such as North America and Europe, Honda has been experiencing impacts including lower EV sales units and higher sales incentives per unit than initially expected. Furthermore, following the United States government policy shifts, including the abolition of tax incentives for EV purchases and the easing of emissions regulations, as well as the imposition of import tariffs, the growth of the EV market in the United States is expected to slow down even further. Due to the recent EV market slowdown, the Honda global EV sales ratio in 2030 is now expected to be 20%, lower than the previously announced target of 30%.

As part of the revision to the product launch plan to address the changes in the market condition, Honda decided to cancel a certain EV model development, and discontinue and reduce manufacturing of EV models jointly developed under a certain alliance agreement.

As a result, for the six months ended September 30, 2025, the Company and its certain 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. These losses and expenses are included in Automobile business. The breakdown of these losses and expenses is as follows.

• Additional provisions of JPY 99,744 million related to the onerous contract under the alliance agreement, primarily due to a shift in the United States government policy, including the imposition of tariffs, the abolition of tax incentives for EV purchases, and the easing of emissions regulations, as well as a reduction in production volume, which resulted in decreased economic benefits and increased costs.

• Impairment losses of JPY 80,741 million recognized for the entire carrying amount of property, plant and equipment, intangible assets and other non-current assets related to the discontinued EV model such as product specific equipment and capitalized development costs.

• Losses of JPY 56,778 million from the disposal of the intangible assets due to the cancellation of development for a specific EV model.

For the contingent liability related to the alliance agreement described above, see [C] Other.

[B] Cash and Cash Equivalents

The reconciliation of the amount of cash and cash equivalents between condensed consolidated statements of financial position and condensed consolidated statements of cash flows is as follows.

		Yen (millions)
		As of September 30, 2025
Cash and cash equivalents in the condensed consolidated statements of financial position			4,635,273
Cash and cash equivalents included in assets held for sale			42,621
Cash and cash equivalents in the condensed consolidated statements of cash flows			4,677,894

Assets held for sale as of September 30, 2025 are presented in other current assets in the condensed consolidated statements of financial position.

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Table of Contents

[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 arise, 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.

Contingent liabilities related to certain alliance agreements

As part of Honda’s automobile electrification strategies, Honda has entered into alliance agreements with third parties involving joint development, parts procurement, and products purchases. These alliances may result in additional losses or expenses where unforeseen factors arise, such as lower than expected sales volumes or rising costs. In estimating the likelihood and the amount of potential losses or expenses, it is necessary to consider the progress of negotiation, as certain provisions in the relevant agreements were unclear. However, due to high levels of uncertainty regarding the amount and timing of certain contingent liabilities, Honda is currently unable to estimate the potential exposure with sufficient reliability.

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FAQ

What were HMC’s H1 FY2025 sales and profits?

Sales revenue was ¥10,632,680 million (−1.5%). Operating profit was ¥438,144 million (−41.0%), and profit attributable to owners was ¥311,829 million (−37.0%).

How did Honda’s EPS change in H1 FY2025?

EPS attributable to owners was ¥76.30, compared with ¥103.25 a year earlier.

What EV‑related actions affected results for HMC (H1 FY2025)?

Honda canceled a certain EV model and discontinued/reduced some alliance‑developed EVs, recognizing ¥139,888M COGS, ¥8,130M SG&A, and ¥89,245M R&D.

What is Honda’s updated 2030 EV sales ratio expectation?

The global EV sales ratio is now expected at 20%, reduced from the earlier 30% target.

What is Honda’s dividend for FY2026 (forecast)?

The plan indicates a second‑quarter dividend of ¥35.00 and a full‑year total of ¥70.00 per share.

What are HMC’s full‑year FY2026 forecasts?

Sales revenue ¥20,700,000 million (−4.6%) and operating profit ¥550,000 million (−54.7%).

How did Honda’s operating cash flow perform in H1 FY2025?

Net cash provided by operating activities was ¥365,861 million.