Honda books ¥509B in additional EV provisions

Available on EDGAR 11/12/2026 - 06:07 AM EST Accepted by SEC EDGAR 11/12/2026 - 06:04 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Honda Motor Co., Ltd. (HMC) reported six-month sales revenue of ¥12,037.6 billion for the period ended September 30, 2026, up 13.2% from a year earlier. Operating profit increased 48.1% to ¥648.7 billion, and profit attributable to owners of the parent increased 65.7% to ¥516.7 billion.

Motorcycle, automobile and financial services external-customer revenue was ¥2,272.5 billion, ¥7,541.8 billion and ¥2,028.7 billion, respectively. Automobile operating loss was ¥5.7 billion, an improvement of ¥67.2 billion year over year. Operating activities provided ¥632.8 billion, investing activities used ¥659.6 billion, and financing activities provided ¥464.5 billion in cash.

For the six months, EV-related losses and expenses included ¥479.244 billion in cost of sales and ¥5.621 billion in research and development; equity-method results included ¥49.722 billion in gains. Honda also recognized ¥508.692 billion in additional EV-related provisions. 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 declared a ¥35.00-per-share dividend effective December 8, 2026.

3 points · 0 major

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1 major · 1 point

How the balance works

Positive

• Moderate pointSales revenue increased 13.2% to ¥12,037.6 billion.
• Moderate pointOperating profit increased 48.1% to ¥648.7 billion.
• Moderate pointProfit attributable to owners increased 65.7% to ¥516.7 billion.

Negative

• Major pointHonda recognized ¥508.692 billion in additional EV-related provisions during the six months.

Filing Explained

The EV supplier-contract provision stood at 556,417 million yen on September 30, and its amount and outflow timing may change as discussions continue.

Honda's Form 6-K says its U.S. subsidiary purchased buildings for automobile manufacturing and research and development during the six months ended September 30, 2026. As of that date, the buildings had a carrying amount of ¥903,382 million, adding manufacturing and research facilities to the subsidiary's assets.

For EV-model contracts involving suppliers and alliance partners, provisions for losses or expenses stood at ¥556,417 million on September 30, 2026. Honda recognizes these provisions when an outflow is probable and reliably estimable, but says their amount and the timing of outflows may change as discussions with the other parties continue.

Key Figures

Sales revenue: ¥12,037.6 billion Operating profit: ¥648.7 billion Profit attributable to owners of the parent: ¥516.7 billion +4 more

7 metrics

Sales revenue ¥12,037.6 billion Six months ended September 30, 2026; increased 13.2% year over year

Operating profit ¥648.7 billion Six months ended September 30, 2026; increased 48.1% year over year

Profit attributable to owners of the parent ¥516.7 billion Six months ended September 30, 2026; increased 65.7% year over year

Additional EV-related provisions ¥508.692 billion Recognized during the six months ended September 30, 2026

Astemo acquisition consideration ¥152.275 billion Cash consideration for an additional 21.0% of Astemo, acquired October 1, 2026

Honda equity interest in Astemo 61.0% Following the acquisition completed October 1, 2026

Dividend per common share ¥35.00 Effective December 8, 2026

Key Terms

equity method, onerous contracts, fair value hierarchy, discounted cash flow, +1 more

5 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.

onerous contracts financial

"recognized and measured as onerous contracts"

fair value hierarchy financial

"a three-level hierarchy when measuring fair value"

discounted cash flow financial

"using a discounted cash flow method"

Discounted cash flow is a way to estimate what a business is worth by forecasting the money it will generate in the future and converting those future dollars into today’s terms, acknowledging that money now is worth more and future receipts are uncertain. Like comparing the value of an apple today versus a promised apple next year, it helps investors judge whether a stock’s market price is cheaper or pricier than the company’s estimated intrinsic value.

weighted average number of common shares outstanding financial

"Weighted average number of common shares outstanding, basic"

The weighted average number of common shares outstanding measures the average number of a company’s common shares that were available during a reporting period, giving each share count a weight based on how long it was outstanding while accounting for issuances, buybacks, splits, and convertible securities. It matters because per-share metrics like earnings per share use this time-weighted average so results reflect changes in the share base the same way an average headcount reflects people who join or leave at different times.

FAQ

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

How did HMC’s six-month results change?

For the six months ended September 30, 2026, sales revenue rose 13.2% to ¥12,037.6 billion, operating profit rose 48.1% to ¥648.7 billion, and profit attributable to owners of the parent rose 65.7% to ¥516.7 billion.

How much did Honda recognize in additional EV-related provisions?

Honda recognized ¥508.692 billion in additional provisions for losses or expenses arising from contracts related to EV models during the six months ended September 30, 2026. The provisions relate to agreements with alliance partners and suppliers, including joint development, parts procurement and EV supply contracts.

How much did Honda pay to increase its stake in Astemo?

Honda paid ¥152.275 billion in cash to acquire an additional 21.0% of Astemo’s common shares on October 1, 2026. Its equity interest rose from 40.0% to 61.0%, and Astemo became a subsidiary.

What dividend did Honda declare and when does it take effect?

Honda declared a ¥35.00-per-common-share dividend, with a September 30, 2026 record date and a December 8, 2026 effective date.

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

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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): ☐

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Contents

Exhibit 1:

Honda Motor Co., Ltd. filed its consolidated interim financial statements ended September 30, 2026 with Financial Services Agency in Japan.

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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 12, 2026

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Condensed Consolidated Interim Financial Statements

September 30, 2026

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Consolidated Financial Results

Overview of Operating Performance

Honda’s consolidated sales revenue for the six months ended September 30, 2026 increased by 13.2%, to ¥12,037.6 billion from the same period last year, due mainly to increased sales revenue in all business operations as well as positive foreign currency translation effects. Operating profit increased by 48.1%, to ¥648.7 billion from the same period last year, due mainly to increased profit attributable to sales impacts, decreased expenses as well as positive foreign currency effects, which was partially offset by the impact of EV (electric vehicle)-related losses. Profit before income taxes increased by 40.5%, to ¥740.8 billion from the same period last year. Profit for the period attributable to owners of the parent increased by 65.7%, to ¥516.7 billion from the same period last year.

Business Segments

Motorcycle Business

For the six months ended September 30, 2025 and 2026

		Units (thousands)
		Honda Group Unit Sales*																Consolidated Unit Sales*
		Six months ended Sep. 30, 2025				Six months ended Sep. 30, 2026				Change				%				Six months ended Sep. 30, 2025				Six months ended Sep. 30, 2026				Change				%
Motorcycle Business			10,763				11,900				1,137				10.6				7,108				7,762				654				9.2
Japan			112				76				(36	)			(32.1	)			112				76				(36	)			(32.1	)
North America			273				290				17				6.2				273				290				17				6.2
Europe			225				215				(10	)			(4.4	)			225				215				(10	)			(4.4	)
Asia			9,068				10,107				1,039				11.5				5,413				5,969				556				10.3
Other Regions			1,085				1,212				127				11.7				1,085				1,212				127				11.7

* Honda Group Unit Sales is the total unit sales of completed motorcycle, ATV and side-by-side products of Honda, its consolidated subsidiaries and its affiliates and joint ventures accounted for using the equity method. Consolidated Unit Sales is the total unit sales of completed products corresponding to consolidated sales revenue to external customers, which consists of unit sales of completed products of Honda and its consolidated subsidiaries.

Sales revenue from external customers increased by 18.3%, to ¥2,272.5 billion from the same period last year, due mainly to increased consolidated unit sales as well as positive foreign currency translation effects. Operating profit increased by 19.2%, to ¥439.0 billion from the same period last year, due mainly to increased profit attributable to sales impacts as well as positive foreign currency effects.

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Automobile Business

For the six months ended September 30, 2025 and 2026

		Units (thousands)
		Honda Group Unit Sales*																Consolidated Unit Sales*
		Six months ended Sep. 30, 2025				Six months ended Sep. 30, 2026				Change				%				Six months ended Sep. 30, 2025				Six months ended Sep. 30, 2026				Change				%
Automobile Business			1,680				1,569				(111	)			(6.6	)			1,362				1,404				42				3.1
Japan			280				278				(2	)			(0.7	)			238				237				(1	)			(0.4	)
North America			856				897				41				4.8				856				897				41				4.8
Europe			43				40				(3	)			(7.0	)			43				40				(3	)			(7.0	)
Asia			424				273				(151	)			(35.6	)			148				149				1				0.7
Other Regions			77				81				4				5.2				77				81				4				5.2

* Honda Group Unit Sales is the total unit sales of completed products of Honda, its consolidated subsidiaries and its affiliates and joint ventures accounted for using the equity method. Consolidated Unit Sales is the total unit sales of completed products corresponding to consolidated sales revenue to external customers, which consists of unit sales of completed products of Honda and its consolidated subsidiaries. Certain sales of automobiles that are financed with residual value type auto loans and others by our Japanese finance subsidiaries and provided through our consolidated subsidiaries are accounted for as operating leases in conformity with IFRS and are not included in consolidated sales revenue to the external customers in our Automobile business. Accordingly, they are not included in Consolidated Unit Sales, but are included in Honda Group Unit Sales of our Automobile business.

Sales revenue from external customers increased by 9.9%, to ¥7,541.8 billion from the same period last year, due mainly to increased consolidated unit sales as well as positive foreign currency translation effects. Operating loss was ¥5.7 billion, an improvement of ¥67.2 billion from the same period last year, due mainly to increased profit attributable to sales impacts, tariff impacts as well as positive foreign currency effects, which was partially offset by the impact of EV-related losses.

Financial Services Business

Sales revenue from external customers increased by 21.0%, to ¥2,028.7 billion from the same period last year, due mainly to increased revenues on disposition of lease vehicles as well as positive foreign currency translation effects. Operating profit increased by 47.3%, to ¥210.9 billion from the same period last year, due mainly to an increase in profit attributable to increased sales revenue.

Power Products and Other Businesses

For the six months ended September 30, 2025 and 2026

		Units (thousands)
		Honda Group Unit Sales / Consolidated Unit Sales*
		Six months ended Sep. 30, 2025				Six months ended Sep. 30, 2026				Change				%
Power Products Business			1,699				1,632				(67	)			(3.9	)
Japan			152				162				10				6.6
North America			473				424				(49	)			(10.4	)
Europe			312				272				(40	)			(12.8	)
Asia			600				612				12				2.0
Other Regions			162				162				0				0.0

* Honda Group Unit Sales is the total unit sales of completed power products of Honda, its consolidated subsidiaries and its affiliates and joint ventures accounted for using the equity method. Consolidated Unit Sales is the total unit sales of completed power products corresponding to consolidated sales revenue to external customers, which consists of unit sales of completed power products of Honda and its consolidated subsidiaries. In Power products business, there is no discrepancy between Honda Group Unit Sales and Consolidated Unit Sales since no affiliate and joint venture accounted for using the equity method were involved in the sale of Honda power products.

Sales revenue from external customers increased by 10.8%, to ¥194.5 billion from the same period last year, due mainly to positive foreign currency translation effects. Operating profit was ¥4.4 billion, an increase of ¥4.7 billion from the same period last year, due mainly to decreased expenses as well as positive foreign currency effects. In addition, operating loss of aircraft and aircraft engines included in Power products and other businesses was ¥17.6 billion, an increase of ¥0.8 billion from the same period last year.

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Cash Flows

Consolidated cash and cash equivalents on September 30, 2026 increased by ¥385.3 billion from March 31, 2026, to ¥5,503.8 billion. The reasons for the increases or decreases for each cash flow activity, when compared with the same period last year, are as follows:

Net cash provided by operating activities amounted to ¥632.8 billion of cash inflows. Cash inflows from operating activities increased by ¥266.9 billion from the same period last year, due mainly to increased collections of receivables from customers and decreased payments for purchase of equipment on operating leases, which was partially offset by increased payments for parts and raw materials.

Net cash used in investing activities amounted to ¥659.6 billion of cash outflows. Cash outflows from investing activities increased by ¥302.9 billion from the same period last year, due mainly to increased payments for additions to property, plant and equipment.

Net cash provided by financing activities amounted to ¥464.5 billion of cash inflows. Cash inflows from financing activities increased by ¥365.0 billion from the same period last year, due mainly to decreased purchases of treasury stock, which was partially offset by increased repayments of financing liabilities.

Property, Plant and Equipment

For the six months ended September 30, 2026, the Company’s consolidated subsidiary, Honda Development and Manufacturing of America, LLC, purchased buildings, resulting in a significant change in the status of the subsidiary’s facilities. Details as of September 30, 2026 are as follows.

Company		Location		Segment		Content of facilities		Carrying amount Yen (millions)
Honda Development and Manufacturing of America, LLC		Marysville, Ohio, U.S.A.		Automobile business		Manufacturing, research and development facilities		¥	903,382

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Condensed Consolidated Statements of Financial Position

March 31, 2026 and September 30, 2026

						Yen (millions)
Assets		Note				March 31,  2026				September 30, 2026
						unaudited				unaudited
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			5				6,433,793				6,499,899
Property, plant and equipment			6				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
						Yen (millions)
Liabilities and Equity		Note				March 31,  2026				September 30,  2026
						unaudited				unaudited
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			7				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			7				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

See accompanying notes to condensed consolidated interim financial statements.

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Condensed Consolidated Statements of Income

For the six months ended September 30, 2025 and 2026

						Yen (millions)
		Note				September 30, 2025				September 30, 2026
						unaudited				unaudited
Sales revenue			8			¥	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
						September 30, 2025				September 30, 2026
Earnings per share attributable to owners of the parent
Basic and diluted			11			¥	76.30			¥	132.75

See accompanying notes to condensed consolidated interim financial statements.

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Condensed Consolidated Statements of Comprehensive Income

For the six months ended September 30, 2025 and 2026

				Yen (millions)
		Note		September 30, 2025				September 30, 2026
				unaudited				unaudited
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

See accompanying notes to condensed consolidated interim financial statements.

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Condensed Consolidated Statements of Changes in Equity

For the six months ended September 30, 2025 and 2026

						Yen (millions)
						Equity attributable to owners of the parent
		Note				Common stock				Capital surplus				Treasury stock				Retained earnings				Other components of equity				Total				Non-controlling interests				Total equity
Balance as of April 1, 2025 (unaudited)						¥	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			12																(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 (unaudited)						¥	86,067			¥	205,051			¥	(1,943,026	)		¥	11,272,193			¥	2,337,478			¥	11,957,763			¥	281,620			¥	12,239,383
						Yen (millions)
						Equity attributable to owners of the parent
		Note				Common stock				Capital surplus				Treasury stock				Retained earnings				Other components of equity				Total				Non-controlling interests				Total equity
Balance as of April 1, 2026 (unaudited)						¥	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			12																(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 (unaudited)						¥	86,067			¥	207,622			¥	(896,312	)		¥	9,868,741			¥	2,770,632			¥	12,036,750			¥	254,892			¥	12,291,642

See accompanying notes to condensed consolidated interim financial statements.

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

For the six months ended September 30, 2025 and 2026

						Yen (millions)
		Note				September 30, 2025				September 30, 2026
						unaudited				unaudited
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

See accompanying notes to condensed consolidated interim financial statements.

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1

HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

(1) Reporting Entity

Honda Motor Co., Ltd. (the “Company”) is a public company domiciled in Japan. The Company and its subsidiaries (collectively “Honda”) develop, manufacture and distribute motorcycles, automobiles, power products and others throughout the world, and also provide financial services to customers and dealers for the sale of those products. Principal manufacturing facilities are located in Japan, the United States of America, Canada, Mexico, China, India, Indonesia, Malaysia, Thailand, Vietnam and Brazil.

(2) Basis of Preparation

(a) Compliance with Interim Financial Reporting Standards

The condensed consolidated interim financial statements of the Company have been prepared in accordance with IAS 34 “Interim Financial Reporting”. The condensed consolidated interim financial statements should be read in conjunction with the Company’s consolidated financial statements for the fiscal year ended March 31, 2026, since the condensed consolidated interim financial statements do not include all the information required in the annual consolidated financial statements, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board.

(b) Functional Currency and Presentation Currency

The condensed consolidated interim financial statements are presented in Japanese yen, which is the functional currency of the Company. All financial information presented in Japanese yen has been rounded to the nearest million Japanese yen, except when otherwise indicated.

(c) Use of Estimates and Judgments

The preparation of condensed consolidated interim financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies, the reported amount of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates. These estimates and underlying assumptions are reviewed on a continuous basis. Changes in these accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

The condensed consolidated interim financial statements are prepared based on the same judgments and estimations as those applied and described in the Company’s consolidated financial statements for the fiscal year ended March 31, 2026.

(3) Summary of Material Accounting Policies

The condensed consolidated interim financial statements are prepared based on the same accounting policies as those applied and described in the Company’s consolidated financial statements for the fiscal year ended March 31, 2026.

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

(4) 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

Segment Information

Segment information as of and for the six months ended September 30, 2025 and 2026 is as follows:

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

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

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. Segment profit (loss) of each segment is measured in a consistent manner with consolidated operating profit, which is profit before income taxes before share of profit (loss) of investments accounted for using the equity method and finance income and finance costs. Expenses not directly associated with specific segments are allocated based on the most reasonable measures applicable.

2. Segment assets of each segment are defined as total assets including investments accounted for using the equity method, derivatives, and deferred tax assets. Segment assets are based on those directly associated with each segment and those not directly associated with specific segments are allocated based on the most reasonable measures applicable except for the corporate assets described below.

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

4. 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 ¥919,514 million and ¥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.

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

Given the changes in the EV 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 ¥139,888 million in cost of sales, ¥8,130 million in selling, general and administrative expenses, and ¥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 ¥479,244 million in cost of sales, and ¥5,621 million in research and development expenses, and gains of ¥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 ¥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 ¥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.

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

(5) Equipment on Operating Leases

The additions to equipment on operating leases for the six months ended September 30, 2025 and 2026 are ¥1,374,944 million and ¥1,553,629 million, respectively.

The sales or disposals of equipment on operating leases for the six months ended September 30, 2025 and 2026 are ¥654,816 million and ¥857,450 million, respectively.

(6) Property, Plant and Equipment

The additions to property, plant and equipment for the six months ended September 30, 2025 and 2026 are ¥238,421 million and ¥852,139 million, respectively.

The sales or disposals of property, plant and equipment for the six months ended September 30, 2025 and 2026 are ¥13,801 million and ¥21,009 million, respectively.

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5

HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

(7) Provisions

The components of and changes in provisions for the six months ended September 30, 2026 are as follows:

		Yen (millions)
		Product warranties*1				EV-related losses*2				Other				Total
Balance as of April 1, 2026		¥	867,168			¥	647,497			¥	168,811			¥	1,683,476
Additional provisions		¥	148,165			¥	508,692			¥	53,529			¥	710,386
Write-offs			(184,129	)			(547,963	)			(20,848	)			(752,940	)
Reversal			(6,149	)			(20,411	)			(632	)			(27,192	)
Other			(7,049	)			(5,121	)			(1,276	)			(13,446	)
Balance as of September 30, 2026		¥	818,006			¥	582,694			¥	199,584			¥	1,600,284

Current liabilities and non-current liabilities of provisions as of March 31, 2026 and September 30, 2026 are as follows:

		Yen (millions)
		As of March 31, 2026				As of September 30, 2026
Current liabilities		¥	948,252			¥	944,218
Non-current liabilities			735,224				656,066
Total		¥	1,683,476			¥	1,600,284

Explanatory note:

*1 Honda recognizes provisions for product warranties to cover future product warranty expenses. Honda recognizes costs for general warranties on products Honda sells and for specific warranty programs, including product recalls.

(i) Honda recognizes general estimated warranty costs at the time products are sold to customers and estimates based on historical warranty claim experience with consideration given to the expected level of future warranty costs, including current sales trends, the expected number of units to be affected and the estimated average repair cost per unit for warranty claims.

(ii) Honda recognizes specific estimated warranty program costs as follows.

Honda accrues the provisions comprehensively for specific warranty programs of automobile products manufactured at our major production bases at the time of vehicle sales.

The estimated specific warranty costs are measured by the number of units sold over the past fiscal years and specific warranty cost per unit expected to be incurred (specific warranty cost per unit) after vehicle sales over their product life based on our historical experience. Expected specific warranty cost per unit is calculated based on the actual warranty costs incurred over specific range of past periods such as the average useful product life. This estimate is inherently uncertain as it is based on our historical experience as described above. Consequently, the actual specific warranty cost per unit may differ from the expected cost per unit and result in adjustments to the provisions in future reporting periods. The difference from estimated specific warranty cost per unit can be primarily driven by actual repair costs such as parts and labor.

In addition to the provisions comprehensively accrued, estimates of certain warranty program costs are individually made when it is deemed appropriate by considering its nature and magnitude of each program. Honda recognizes those provisions 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. The provisions are estimated based on the expected level of future warranty costs, including the expected number of units to be affected and the estimated repair cost per unit for warranty claims.

Honda also accrues the provisions individually for specific warranty programs of our products manufactured at our production bases other than major automobile production bases.

Provisions for (i) and (ii) product warranties are utilized for expenditures based on the demand from customers and dealers. A portion of the product warranties is expected to be reimbursed by agreement with suppliers. The amount of expected reimbursement is ¥79,632 million as of September 30, 2026.

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

*2 Provisions for EV-related losses mainly consist of the following:

(i) Provisions for the onerous contract under an alliance agreement

Provisions for the onerous contract as of April 1, 2026 and September 30, 2026, are ¥86,302 million and ¥26,277 million, respectively.

Honda has a long-term supply agreement for EV models jointly developed with an alliance partner. Provisions are recognized and measured as onerous contracts when the unavoidable costs of meeting the obligations under a contract exceed the economic benefits expected to be received under it. Outflows of resources embodying economic benefits related to these onerous contracts are expected to occur within one year from September 30, 2026.

(ii) Provisions for losses or expenses arising from contracts entered into with other parties in relation to EV models

The amounts of these provisions as of April 1, 2026 and September 30, 2026, are ¥561,195 million and ¥556,417 million, respectively.

Honda has entered into various agreements with alliance partners and other suppliers, including contracts for joint development of EV models, procurement of parts, and the supply of EV models. Certain of these contracts contain clauses that require compensation to be paid in the event that minimum purchase quantities are not met, or purchase orders are canceled. In connection with these agreements, following the decisions made during the year ended March 31, 2026 to cancel the development and market launch of EV models planned for production in North America, as well as to discontinue production or reduce production volumes of EV models jointly developed under a certain alliance agreement, Honda had initiated discussions with certain alliance partners regarding compensation by March 31, 2026. During the six months ended September 30, 2026, the Company and its consolidated subsidiaries initiated an assessment to identify the impact of such decisions on the relevant suppliers, and continue to engage in discussions with them. Provisions are recognized for losses or expenses related to additional payments to suppliers arising from these agreements when it is probable that an outflow of resources embodying economic benefits will be required and when the amount can be reliably estimated. For the six months ended September 30, 2026, Honda recognized additional provisions of ¥508,692 million. These provisions are measured taking into account the status of negotiations, and the timing of outflows of resources embodying economic benefits and the amount of the provisions are subject to change depending on the progress of discussions with other parties and changes in circumstances.

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

(8) Sales Revenue

As stated in Note 4, Honda discloses segment information in four categories.

The sales revenue disaggregated by geographical markets based on the location of the customer and the reconciliation of the disaggregated revenue with each segment for the six months ended September 30, 2025 and 2026 are as follows:

For the six months ended September 30, 2025

		Yen (millions)
		Motorcycle Business				Automobile Business				Financial Services Business				Power Products and Other Businesses				Total
Revenue arising from Contracts with Customers
Japan		¥	57,750			¥	834,505			¥	92,736			¥	48,325			¥	1,033,316
North America			182,232				4,729,963				589,558				56,058				5,557,811
Europe			207,158				224,033				—				32,335				463,526
Asia			1,062,127				792,651				24				26,713				1,881,515
Other Regions			409,779				268,217				—				12,132				690,128
Total		¥	1,919,046			¥	6,849,369			¥	682,318			¥	175,563			¥	9,626,296
Revenue arising from the other sources*			1,678				10,049				994,653				4				1,006,384
Total		¥	1,920,724			¥	6,859,418			¥	1,676,971			¥	175,567			¥	10,632,680

For the six months ended September 30, 2026

		Yen (millions)
		Motorcycle Business				Automobile Business				Financial Services Business				Power Products and Other Businesses				Total
Revenue arising from Contracts with Customers
Japan		¥	50,802			¥	878,486			¥	96,555			¥	47,349			¥	1,073,192
North America			194,155				5,366,482				807,885				60,546				6,429,068
Europe			216,116				222,496				—				32,818				471,430
Asia			1,257,062				751,763				7				38,993				2,047,825
Other Regions			553,776				312,772				—				14,868				881,416
Total		¥	2,271,911			¥	7,531,999			¥	904,447			¥	194,574			¥	10,902,931
Revenue arising from the other sources*			608				9,808				1,124,295				16				1,134,727
Total		¥	2,272,519			¥	7,541,807			¥	2,028,742			¥	194,590			¥	12,037,658

Explanatory note:

* Revenue arising from the other sources primarily includes lease revenues recognized under IFRS 16 and interest recognized under IFRS 9.

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

(9) Fair Value

(a) Definition of Fair Value Hierarchy

Honda uses a three-level hierarchy when measuring fair value. The following is a description of the three hierarchy levels:

Level 1		Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date
Level 2		Inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities, either directly or indirectly
Level 3		Unobservable inputs for the assets or liabilities

The level in the fair value hierarchy within which a fair value measurement in its entirety falls is based on the lowest input that is significant to the fair value measurement in its entirety. Honda recognizes the transfers between the levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.

(b) Method of Fair Value Measurement

The fair values of assets and liabilities are determined based on relevant market information and through the use of an appropriate valuation method.

The measurement methods and assumptions used in the measurement of assets and liabilities are as follows:

(Cash and cash equivalents, trade receivables and trade payables)

The fair values approximate their carrying amounts due to their short-term maturities.

(Receivables from financial services)

The fair value of receivables from financial services is measured primarily by discounting future cash flows using the current interest rates applicable for these receivables of similar remaining maturities. Fair value measurement for receivables from financial services is classified as Level 3.

(Debt securities)

Debt securities consist mainly of mutual funds, corporate bonds, local bonds and auction rate securities.

The fair value of mutual funds with an active market is measured by using quoted market prices. Fair value measurement for mutual funds with an active market is classified as Level 1.

The fair values of corporate bonds and local bonds are measured based on proprietary pricing models provided by specialists and/or market makers and the models obtain a wide array of market observable inputs such as credit ratings and discount rates. Fair value measurements for corporate bonds and local bonds are classified as Level 2.

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

The subsidiary’s auction rate securities are A to AAA rated and are insured by qualified guarantee agencies, and reinsured by the Secretary of Education and the United States government, and guaranteed at approximately 95% by the United States government. To measure fair value of auction rate securities, Honda uses a third-party-developed valuation model which obtains a wide array of market observable inputs, as well as unobservable inputs including probability of passing or failing auction at each auction. Fair value measurement for auction rate securities is classified as Level 3.

(Equity securities)

The fair value of equity securities with an active market is measured by using quoted market prices. Fair value measurement for equity securities with an active market is classified as Level 1.

The fair value of equity securities with no active market is measured mainly by using a discounted cash flow method, a comparable company valuation method and other appropriate valuation methods. Fair value measurement for equity securities with no active market is classified as Level 3. In addition, in the case that cost represents the best estimate of fair value, fair value for the equity securities with no active market is measured at cost.

Cash flow forecasts and discount rate for the discounted cash flow model and price book-value ratio (PBR) of a comparable company for the comparable company valuation method are used as significant unobservable inputs in the fair value measurement of equity securities classified as Level 3. The fair value increases (decreases) as Cash flow forecasts increase (decrease), discount rate declines (rises) and PBR of a comparable company rises (declines). Such fair value measurements are conducted in accordance with the group accounting policy approved by the appropriate person of authority and based upon valuation methods determined by personnel in accounting divisions of Honda.

(Derivatives)

Derivatives consist mainly of foreign currency forward exchange contracts, foreign currency option contracts, currency swap agreements and interest rate swap agreements.

The fair values of foreign currency forward exchange contracts and foreign currency option contracts are measured by using market observable inputs such as spot exchange rates, discount rates and implied volatility. The fair values of currency swap agreements and interest rate swap agreements are measured by discounting future cash flows using market observable inputs such as interest rates and foreign exchange rates. Fair value measurements for these derivatives are classified as Level 2.

The credit risk of the counterparties is considered in the valuation of derivatives.

(Financing liabilities)

The fair value of financing liabilities is measured by discounting future cash flows using interest rates currently available for liabilities of similar terms and remaining maturities. Fair value measurement of financing liabilities is mainly classified as Level 2.

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

(c) Assets and Liabilities Measured at Fair Value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 and September 30, 2026 consist of the following:

		Yen (millions)
As of March 31, 2026		Level 1				Level 2				Level 3				Total
Other financial assets:
Financial assets measured at fair value through profit or loss:
Derivatives
Foreign exchange instruments		¥	—			¥	133,616			¥	—			¥	133,616
Interest rate instruments			—				36,465				—				36,465
Other			—				209				11,954				12,163
Total			—				170,290				11,954				182,244
Debt securities			32,936				90,102				4,796				127,834
Financial assets measured at fair value through other comprehensive income:
Debt securities			—				31,920				—				31,920
Equity securities			564,285				—				69,590				633,875
Derivatives to which hedge accounting is applied			—				64,541				—				64,541
Total		¥	597,221			¥	356,853			¥	86,340			¥	1,040,414
Other financial liabilities:
Financial liabilities measured at fair value through profit or loss:
Derivatives
Foreign exchange instruments		¥	—			¥	51,870			¥	—			¥	51,870
Interest rate instruments			—				70,607				—				70,607
Other			—				—				—				—
Total			—				122,477				—				122,477
Total		¥	—			¥	122,477			¥	—			¥	122,477

There were no transfers between Level 1 and Level 2 for the year ended March 31, 2026.

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HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

		Yen (millions)
As of September 30, 2026		Level 1				Level 2				Level 3				Total
Other financial assets:
Financial assets measured at fair value through profit or loss:
Derivatives
Foreign exchange instruments		¥	—			¥	88,208			¥	—			¥	88,208
Interest rate instruments			—				95,067				—				95,067
Other			—				—				11,009				11,009
Total			—				183,275				11,009				194,284
Debt securities			45,118				89,300				4,721				139,139
Financial assets measured at fair value through other comprehensive income:
Debt securities			—				29,116				—				29,116
Equity securities			361,311				—				65,158				426,469
Derivatives to which hedge accounting is applied			—				54,536				—				54,536
Total		¥	406,429			¥	356,227			¥	80,888			¥	843,544
Other financial liabilities:
Financial liabilities measured at fair value through profit or loss:
Derivatives
Foreign exchange instruments		¥	—			¥	63,841			¥	—			¥	63,841
Interest rate instruments			—				128,880				—				128,880
Other			—				3,888				—				3,888
Total			—				196,609				—				196,609
Derivatives to which hedge accounting is applied			—				30,465				—				30,465
Total		¥	—			¥	227,074			¥	—			¥	227,074

There were no transfers between Level 1 and Level 2 for the six months ended September 30, 2026.

There were no significant effects of the measurements on profit or loss or other comprehensive income in Level 3 assets and liabilities measured at fair value on a recurring basis for the six months ended September 30, 2026.

(d) Financial Assets and Financial Liabilities measured at amortized cost

The carrying amounts and fair values of financial assets and financial liabilities measured at amortized cost as of March 31, 2026 and September 30, 2026 are as follows:

		Yen (millions)
		As of March 31, 2026								As of September 30, 2026
		Carrying amount				Fair value				Carrying amount				Fair value
Receivables from financial services		¥	9,893,496			¥	9,819,841			¥	9,839,218			¥	9,694,717
Debt securities			41,564				41,564				33,795				33,795
Financing liabilities			13,479,863				13,407,833				13,908,239				13,698,486

The table does not include financial assets and financial liabilities measured at amortized cost whose fair values approximate their carrying amounts.

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12

HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

(10) Contingent Liabilities

Claims and Lawsuits

Honda is subject to potential liability under various lawsuits and claims. Honda recognizes a provision for loss contingencies 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. Honda reviews these pending lawsuits and claims periodically and adjusts the amounts recognized for these contingent liabilities, if necessary, by considering the nature of lawsuits and claims, the progress of the case and the opinions of legal counsel.

With respect to product liability, personal injury claims or lawsuits, Honda believes that any judgment that may be recovered by any plaintiff for general and special damages and court costs will be adequately covered by Honda’s insurance and provision. Punitive damages are claimed in certain of these lawsuits.

After consultation with legal counsel, and taking into account all known factors pertaining to existing lawsuits and claims, Honda believes that the ultimate outcome of such lawsuits and pending claims should not result in liability to Honda that would be likely to have an adverse material effect on its consolidated financial position or results of operations.

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.

(11) Earnings Per Share

Earnings per share attributable to owners of the parent for the six months ended September 30, 2025 and 2026 are calculated based on the following information. There were no significant dilutive potential common shares outstanding for the six months ended September 30, 2025 and 2026.

		2025				2026
Profit for the period attributable to owners of the parent (millions of yen)		¥	311,829			¥	516,761
Weighted average number of common shares outstanding, basic (shares)			4,087,037,741				3,892,829,649
Basic earnings per share attributable to owners of the parent (yen)		¥	76.30			¥	132.75

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13

HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

(12) Dividend

(a) Dividend payout

For the six months ended September 30, 2025

Resolution		The Board of Directors Meeting on May 13, 2025
Type of shares		Common shares
Total amount of dividends (millions of yen)		147,960
Dividend per share (yen)		34.00
Record date		March 31, 2025
Effective date		June 5, 2025

For the six months ended September 30, 2026

Resolution		The Board of Directors Meeting on May 14, 2026
Type of shares		Common shares
Total amount of dividends (millions of yen)		136,430
Dividend per share (yen)		35.00
Record date		March 31, 2026
Effective date		June 9, 2026

(b) Dividends payable of which record date was in the six months ended September 30, 2026, effective after the period

Resolution		The Board of Directors Meeting on November 10, 2026
Type of shares		Common shares
Resource for dividend		Retained earnings
Total amount of dividends (millions of yen)		136,430
Dividend per share (yen)		35.00
Record date		September 30, 2026
Effective date		December 8, 2026

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14

HONDA MOTOR CO., LTD. AND SUBSIDIARIES

Notes to Condensed Consolidated Interim Financial Statements

(13) 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 ¥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.

Due to the timing of the business combination, the initial accounting for the business combination has not yet been completed at the time of the release of the condensed consolidated interim financial statements. 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.

(14) Approval of Release of Condensed Consolidated Interim Financial Statements

The release of the condensed consolidated interim financial statements was approved by Toshihiro Mibe, Director, President and Representative Executive Officer and Masao Kawaguchi, Executive Officer and Chief Financial Officer on November 11, 2026.