Honda's Fiscal Second Quarter Not as Strong After Excluding Pension Change
Honda reported second quarter fiscal 2017 results that showed a sharp improvement from the prior year’s quarter thanks to cost reductions and a one-time pension accounting benefit of JPY 84 billion. Operating profit increased by 38.4% year over year but we calculate it would have fallen by JPY 20.8 billion or 12.6% excluding the pension benefit. The company increased its retirement age in Japan to 65 from 60. Excluding the pension income, Honda did not completely offset the JPY 102.2 billion pro...Honda Motor is the parent company of a group mainly develop, manufacture and distribute motorcycles, automobiles, power products, and also provide financing for the sale of those products. Principal manufacturing facilities are located in Japan, the United States of America, Canada, Mexico, the United Kingdom, Turkey, China, India, Indonesia, Malaysia, Thailand, Vietnam, Argentina, and Brazil. Co.'s principal business segments are motorcycles, automobiles, financial services, and power products & other business. Co.'s principal automobile products include passenger cars such as "Legend," "Accord," "Inspire," "Civic," "Insight," "City," "Acura RL," "Acura TL," "Acura TSX," and "Acura CSX".
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