Earnings Labs

Honda Motor Co., Ltd. (HMC)

Q4 2010 Earnings Call· Wed, Feb 16, 2011

$23.99

-0.89%

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Transcript

Unknown Company Representative

Management

Good morning, everyone. Welcome to Honda financial results audio presentation. On January 31, 2011, Honda Motor announced its financial results for the fiscal third quarter ended December 31, 2010. Through this audio presentation cast, we would like to review the financial results and discuss the major drivers of Honda's business during the period. Honda also revised up its full-year earning guidance. So we would like to discuss the new earning guidance for the fiscal year ending March 2011. The earning press release and slide presentation were posted on the same website. For downloading presentation materials, please click the link on the new 2012 Civic four-door photo. Did you find it? Folks, let's start. Now I would like to start with financial highlight for the quarter. Please have a look at the slide three: Reviewing Global Economic Environment During the Quarter in the US Market. Although there are some signs of gradual economic recovery such as consumer spending and capital spending continued to increase at a moderate rate, there are still concerns about US economy become stagnant due to the possibility of credit limit, and the high unemployment rate will be prolonged. Economies in China and India continue to expand, and the economies of other Asian countries also achieved overall recovery at a somewhat slower pace. In Europe, the economy has bottomed as a whole, but concerns that recovery will slow remains. As high unemployment rate continue, the weak economic environment in Japan remain unchanged despite the fact that capital spending slightly improved. The sluggish recovery of consumer spending and prolonged high unemployment rate are considered a sign that the condition remains severe. Now I would like to elaborate business operation environment surrounding us. In motorcycle business, industry demand in India, Vietnam, Brazil and Thailand continued to expand significantly. The demand…