Unidentified Company Representative
Management
Welcome to the Honda Financial Results Audio Presentation. On January 31, 2012 Honda Motor announced its financial results for the fiscal third quarter ended December 31, 2011. Through this audio presentation, we would like to review the financial results and discuss the major factors of Honda’s business during the period. We have posted presentation materials at Honda Investor Relations website at http://world.honda.com/investors/. So please download the presentation materials by clicking the link on the Acura NSX concept photo. If you’ve got the material ready, let’s get started. This audio presentation 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 Honda’s actual results could differ materially from those described in these forward-looking statements as a result of numerous factors including general economic conditions in Honda’s principle markets and foreign exchange rates between the Japanese yen and the U.S. dollar, the Euro and other major currencies, as well as other factors detailed from time to time. The various factors for increases and decreases in income have been classified in accordance with a method that Honda considers reasonable. Now, I would like to start with the financial summary for the third quarter that ended on December 31, 2011. Please have a look at slide 3. Honda again, showed resilience in this quarter. The sever impacts from the flooding in Thailand as well as unfavorable FOREX were partly absorbed by the steady recovery of automobile business in major markets, strong return by the motorcycle business, and the company wide efforts to reduce fixed costs. Moreover, despite a reversal of differed tax assets due…