REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 |
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Title of each class |
Outstanding as of March 31, 2022*** | |
Common Stock |
Accelerated filer ☐ | Non-accelerated filer ☐ |
Emerging growth company |
* | Not for trading purposes, but only in connection with the registration of American Depositary Shares, each representing one share of Common Stock. |
** | American Depositary Receipts evidence American Depositary Shares, each American Depositary Share representing one share of Common Stock. |
*** | Unless otherwise indicated in this Form 20-F, “outstanding shares” excludes the number of shares held by the BIP Trust (as defined under Item 6.B. “Compensation-The Board Incentive Plan”). |
**** | Shares of Common Stock include |
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109 |
• | the political, economic and social conditions in Japan and throughout the world including North America, Europe and Asia, including economic slowdowns, recessions, changes in consumer preferences, rising fuel prices, financial crises, exchange rates and other factors, as well as the relevant governments’ specific policies with respect to economic growth, inflation, taxation, currency conversion, imports and sources of supplies and the availability of credit, particularly to the extent such current or future conditions and policies affect the automobile, motorcycle and power product industries and markets in Japan and other markets throughout the world in which Honda conducts its business, and the demand, sales volume and sales prices for Honda’s automobiles, motorcycles and power products; |
• | the effects of competition in the automobile, motorcycle and power product markets on the demand, sales volume and sales prices for Honda’s automobiles, motorcycles and power products; |
• | Honda’s ability to finance its working capital and capital expenditure requirements, including obtaining any required external debt or other financing upon favorable interest rates or other terms; |
• | the effects of environmental, personal information and other governmental regulations and legal proceedings; and |
• | the effects of events such as environmental or man-made disasters, pandemics, cyber-attacks or other events affecting Honda, its suppliers, customers or the economy as a whole. |
Fiscal years ended March 31, |
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2020 |
2021 |
2022 |
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Yen (billions) |
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Motorcycle Business |
¥ | 2,059.3 | ¥ | 1,787.2 | ¥ | 2,185.2 | ||||||
Automobile Business |
9,959.0 | 8,567.2 | 9,147.4 | |||||||||
Financial Services Business |
2,586.9 | 2,494.2 | 2,820.6 | |||||||||
Life Creation and Other Businesses |
325.6 | 321.7 | 399.2 | |||||||||
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Total |
¥ | 14,931.0 | ¥ | 13,170.5 | ¥ | 14,552.6 | ||||||
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Fiscal years ended March 31, |
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2020 |
2021 |
2022 |
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Yen (billions) |
||||||||||||
Japan |
¥ | 1,985.9 | ¥ | 1,849.2 | ¥ | 1,943.6 | ||||||
North America |
8,164.3 | 7,080.8 | 7,624.7 | |||||||||
Europe |
568.7 | 511.7 | 611.8 | |||||||||
Asia |
3,449.8 | 3,250.1 | 3,711.4 | |||||||||
Other Regions |
762.0 | 478.4 | 660.8 | |||||||||
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Total |
¥ | 14,931.0 | ¥ | 13,170.5 | ¥ | 14,552.6 | ||||||
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Fiscal years ended March 31, |
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2020 |
2021 |
2022 |
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Honda Group Unit Sales* |
Consolidated Unit Sales* |
Revenue |
Honda Group Unit Sales* |
Consolidated Unit Sales* |
Revenue |
Honda Group Unit Sales* |
Consolidated Unit Sales* |
Revenue |
||||||||||||||||||||||||||||
Units (thousands) |
Units (thousands) |
Yen (billions) |
Units (thousands) |
Units (thousands) |
Yen (billions) |
Units (thousands) |
Units (thousands) |
Yen (billions) |
||||||||||||||||||||||||||||
Japan |
205 | 205 | ¥ | 77.2 | 215 | 215 | ¥ | 88.1 | 244 | 244 | ¥ | 105.0 | ||||||||||||||||||||||||
North America |
330 | 330 | 203.8 | 332 | 332 | 197.1 | 437 | 437 | 230.7 | |||||||||||||||||||||||||||
Europe |
239 | 239 | 144.3 | 234 | 234 | 146.9 | 317 | 317 | 202.2 | |||||||||||||||||||||||||||
Asia |
17,262 | 10,348 | 1,338.7 | 13,319 | 8,451 | 1,149.8 | 14,589 | 8,283 | 1,309.9 | |||||||||||||||||||||||||||
Other Regions |
1,304 | 1,304 | 295.0 | 1,032 | 1,032 | 205.1 | 1,440 | 1,440 | 337.2 | |||||||||||||||||||||||||||
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Total |
19,340 | 12,426 | ¥ | 2,059.3 | 15,132 | 10,264 | ¥ | 1,787.2 | 17,027 | 10,721 | ¥ | 2,185.2 | ||||||||||||||||||||||||
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Motorcycle revenue as a percentage of total sales revenue |
14 | % | 14 | % | 15 | % |
* |
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. |
Fiscal years ended March 31, |
||||||||||||||||||||||||||||||||||||
2020 |
2021 |
2022 |
||||||||||||||||||||||||||||||||||
Honda Group Unit Sales* |
Consolidated Unit Sales* |
Revenue |
Honda Group Unit Sales* |
Consolidated Unit Sales* |
Revenue |
Honda Group Unit Sales* |
Consolidated Unit Sales* |
Revenue |
||||||||||||||||||||||||||||
Units (thousands) |
Units (thousands) |
Yen (billions) |
Units (thousands) |
Units (thousands) |
Yen (billions) |
Units (thousands) |
Units (thousands) |
Yen (billions) |
||||||||||||||||||||||||||||
Japan |
672 | 589 | ¥ | 1,473.7 | 592 | 520 | ¥ | 1,321.4 | 547 | 476 | ¥ | 1,340.7 | ||||||||||||||||||||||||
North America |
1,825 | 1,825 | 5,650.6 | 1,480 | 1,480 | 4,679.3 | 1,283 | 1,283 | 4,884.9 | |||||||||||||||||||||||||||
Europe |
133 | 133 | 359.2 | 101 | 101 | 290.3 | 100 | 100 | 319.3 | |||||||||||||||||||||||||||
Asia |
1,952 | 563 | 2,049.4 | 2,247 | 390 | 2,037.5 | 2,022 | 443 | 2,321.7 | |||||||||||||||||||||||||||
Other Regions |
208 | 208 | 425.9 | 126 | 126 | 238.5 | 122 | 122 | 280.7 | |||||||||||||||||||||||||||
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Total |
4,790 | 3,318 | ¥ | 9,959.0 | 4,546 | 2,617 | ¥ | 8,567.2 | 4,074 | 2,424 | ¥ | 9,147.4 | ||||||||||||||||||||||||
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Automobile revenue as a percentage of total sales revenue |
67 | % | 65 | % | 63 | % |
* |
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 International Financial Reporting Standards (“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. |
Fiscal years ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Yen (billions) |
||||||||||||
Japan |
¥ | 358.8 | ¥ | 380.3 | ¥ | 418.3 | ||||||
North America |
2,176.6 | 2,070.5 | 2,356.9 | |||||||||
Europe |
11.8 | 11.2 | 10.8 | |||||||||
Asia |
14.7 | 15.0 | 15.7 | |||||||||
Other Regions |
24.8 | 17.0 | 18.6 | |||||||||
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Total |
¥ | 2,586.9 | ¥ | 2,494.2 | ¥ | 2,820.6 | ||||||
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Financial Services revenue as a percentage of total sales revenue |
17 | % | 19 | % | 19 | % |
Fiscal years ended March 31, | ||||||||||||||||||||||||
2020 |
2021 |
2022 | ||||||||||||||||||||||
Honda Group Unit Sales / Consolidated Unit Sales* |
Revenue |
Honda Group Unit Sales / Consolidated Unit Sales* |
Revenue |
Honda Group Unit Sales / Consolidated Unit Sales* |
Revenue |
|||||||||||||||||||
Units (thousands) |
Yen (billions) |
Units (thousands) |
Yen (billions) |
Units (thousands) |
Yen (billions) |
|||||||||||||||||||
Japan |
312 | ¥ | 76.1 | 336 | ¥ | 59.2 | 353 | ¥ | 79.4 | |||||||||||||||
North America |
2,848 | 133.1 | 2,617 | 133.7 | 2,738 | 152.1 | ||||||||||||||||||
Europe |
845 | 53.2 | 929 | 63.2 | 1,189 | 79.3 | ||||||||||||||||||
Asia |
1,375 | 46.8 | 1,405 | 47.6 | 1,487 | 64.0 | ||||||||||||||||||
Other Regions |
321 | 16.2 | 336 | 17.7 | 433 | 24.3 | ||||||||||||||||||
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Total |
5,701 | ¥ | 325.6 | 5,623 | ¥ | 321.7 | 6,200 | ¥ | 399.2 | |||||||||||||||
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Life Creation and Other businesses revenue as a percentage of total sales revenue |
2 | % | 2 | % | 3 | % |
* |
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 Life creation 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 was involved in the sale of Honda power products. |
+ | Event Data Recorder (EDR), |
+ | Amendment to electric vehicles traction battery safety requirements, and |
+ | Amendment to electric vehicles safety requirements. |
+ | Establishment of technical requirements related to cyber security, and |
+ | Establishment of security requirements for automobile data collection and requirements for cross-border data transfers, and |
+ | Amendment to battery electric passenger cars – specifications. |
Company |
Country of Incorporation |
Function |
Percentage Ownership and Voting Interest |
|||||
Honda R&D Co., Ltd. |
Japan | Research & Development | 100.0 | |||||
Honda Finance Co., Ltd. |
Japan | Finance | 100.0 | |||||
American Honda Motor Co., Inc. |
U.S.A. | Coordination of Subsidiaries Operation, Research & Development, Manufacturing and Sales |
100.0 | |||||
Honda Aero., Inc. |
U.S.A. | Research & Development and Manufacturing |
100.0 | |||||
American Honda Finance Corporation |
U.S.A. | Finance | 100.0 | |||||
Honda Development and Manufacturing of America, LLC |
U.S.A. | Research & Development and Manufacturing |
100.0 | |||||
Honda Aircraft Company, LLC |
U.S.A. | Research & Development, Manufacturing and Sales |
100.0 | |||||
Honda Canada Inc. |
Canada | Manufacturing and Sales | 100.0 | |||||
Honda Canada Finance Inc. |
Canada | Finance | 100.0 | |||||
Honda de Mexico, S.A. de C.V. |
Mexico | Manufacturing and Sales | 100.0 | |||||
Honda Motor Europe Limited |
U.K. | Coordination of Subsidiaries Operation and Sales |
100.0 | |||||
Honda of the U.K. Manufacturing Ltd. |
U.K. | Manufacturing | 100.0 | |||||
Honda Finance Europe plc |
U.K. | Finance | 100.0 | |||||
Honda Bank GmbH |
Germany | Finance | 100.0 | |||||
Honda Turkiye A.S |
Turkey | Manufacturing and Sales | 100.0 | |||||
Honda Motor (China) Investment Co., Ltd. |
China | Coordination of Subsidiaries Operation and Sales |
100.0 | |||||
Honda Auto Parts Manufacturing Co., Ltd. |
China | Manufacturing | 100.0 | |||||
Honda Motorcycle & Scooter India (Private) Ltd. |
India | Manufacturing and Sales | 100.0 | |||||
Honda Cars India Limited |
India | Manufacturing and Sales | 100.0 | |||||
P.T. Honda Precision Parts Manufacturing |
Indonesia | Manufacturing | 100.0 | |||||
P.T. Honda Prospect Motor |
Indonesia | Manufacturing and Sales | 51.0 | |||||
Honda Malaysia Sdn Bhd |
Malaysia | Manufacturing and Sales | 51.0 | |||||
Honda Philippines Inc. |
Philippines | Manufacturing and Sales | 99.6 | |||||
Honda Taiwan Co., Ltd. |
Taiwan | Sales | 100.0 | |||||
Asian Honda Motor Co., Ltd. |
Thailand | Coordination of Subsidiaries Operation and Sales |
100.0 | |||||
Honda Leasing (Thailand) Co., Ltd. |
Thailand | Finance | 100.0 | |||||
Honda Automobile (Thailand) Co., Ltd. |
Thailand | Manufacturing and Sales | 89.0 | |||||
Thai Honda Manufacturing Co., Ltd. |
Thailand | Manufacturing and Sales | 72.5 | |||||
Honda Vietnam Co., Ltd. |
Vietnam | Manufacturing and Sales | 70.0 | |||||
Honda Motor de Argentina S.A. |
Argentina | Manufacturing and Sales | 100.0 | |||||
Honda South America Ltda. |
Brazil | Coordination of Subsidiaries Operation |
100.0 | |||||
Banco Honda S.A. |
Brazil | Finance | 100.0 | |||||
Honda Automoveis do Brasil Ltda. |
Brazil | Manufacturing and Sales | 100.0 | |||||
Moto Honda da Amazonia Ltda. |
Brazil | Manufacturing and Sales | 100.0 |
Location |
Number of Employees |
Principal Products Manufactured | ||||
Yorii-machi, Osato-gun, Saitama, Japan |
4,349 | Automobiles | ||||
Naka-ku, Hamamatsu, Shizuoka, Japan |
1,924 | Power products and transmissions | ||||
Suzuka, Mie, Japan |
5,663 | Automobiles | ||||
Ozu-machi, Kikuchi-gun, Kumamoto, Japan |
2,577 | Motorcycles, all-terrain vehicles,power products and engines | ||||
Greensboro, North Carolina, U.S.A. |
743 | Aircraft | ||||
Burlington, North Carolina, U.S.A. |
89 | Aircraft engines | ||||
Marysville, Ohio, U.S.A. |
5,308 | Automobiles | ||||
Anna, Ohio, U.S.A. |
2,382 | Engines | ||||
East Liberty, Ohio, U.S.A. |
2,775 | Automobiles | ||||
Lincoln, Alabama, U.S.A. |
4,557 | Automobiles and engines | ||||
Greensburg, Indiana, U.S.A. |
2,468 | Automobiles | ||||
Alliston, Canada |
4,522 | Automobiles and engines | ||||
El Salto, Mexico |
369 | Motorcycles | ||||
Celaya, Mexico |
4,589 | Automobiles | ||||
Gurugram, India |
2,068 | Motorcycles | ||||
Alwar, India |
2,497 | Motorcycles and automobiles | ||||
Narasapura, India |
1,811 | Motorcycles | ||||
Ahemdabad, India |
974 | Motorcycles | ||||
Karawang, Indonesia |
2,818 | Automobiles and engines | ||||
Melaka, Malaysia |
2,031 | Automobiles | ||||
Batangas,Philippines |
1,300 | Motorcycles | ||||
Ayutthaya, Thailand |
2,632 | Automobiles | ||||
Prachinburi, Thailand |
1,221 | Automobiles | ||||
Bangkok, Thailand |
3,703 | Motorcycles and power products | ||||
Phuc Yen, Vietnam |
4,783 | Motorcycles and automobiles | ||||
Duy Tien, Vietnam |
678 | Motorcycles | ||||
Buenos Aires, Argentina |
484 | Motorcycles | ||||
Itirapina, Brazil |
987 | Automobiles | ||||
Manaus, Brazil |
6,606 | Motorcycles and power products |
Fiscal years ended March 31, |
||||||||||||
2021 |
2022 |
Increase (Decrease) |
||||||||||
Yen (millions) |
||||||||||||
Motorcycle Business |
¥ | 30,483 | ¥ | 36,754 | ¥ | 6,271 | ||||||
Automobile Business |
281,617 | 230,476 | (51,141 | ) | ||||||||
Financial Services Business |
2,002,158 | 2,026,438 | 24,280 | |||||||||
Financial Services Business (Excluding Equipment on Operating Leases) |
260 | 340 | 80 | |||||||||
Life Creation and Other Businesses |
8,934 | 10,835 | 1,901 | |||||||||
Total |
¥ | 2,323,192 | ¥ | 2,304,503 | ¥ | (18,689) | ||||||
Total (Excluding Equipment on Operating Leases) |
¥ | 321,294 | ¥ | 278,405 | ¥ | (42,889) |
Fiscal year ending March 31, 2023 |
||||
Yen (millions) |
||||
Motorcycle Business |
¥ | 48,100 | ||
Automobile Business |
440,000 | |||
Financial Services Business |
200 | |||
Power Product and Other Businesses |
11,700 | |||
|
|
|||
Total |
¥ | 500,000 | ||
|
|
* |
Source: JAMA (Japan Automobile Manufacturers Association) |
* |
Source: MIC (Motorcycle Industry Council) |
* |
Based on Honda research. Only includes the following 10 countries: the United Kingdom, Germany, France, Italy, Spain, Switzerland, Portugal, the Netherlands, Belgium, and Austria. |
*1 |
Based on Honda research. |
*2 |
Based on Honda research. Only includes the following seven countries: Thailand, Indonesia, Malaysia, the Philippines, Vietnam, Pakistan, and China. |
* |
Source: ABRACICLO (the Brazilian Association of Motorcycle, Moped, and Bicycle Manufacturers) |
Fiscal year ended March 31, |
||||||||
2021 |
2022 |
|||||||
Passenger cars: |
43 | % | 42 | % | ||||
ACCORD, CITY, CIVIC, FIT/JAZZ |
||||||||
Light trucks: |
50 | % | 52 | % | ||||
BREEZE, CR-V, FREED, ODYSSEY, PILOT, Acura RDX, VEZEL/HR-V, XR-V |
||||||||
Mini vehicles: |
7 | % | 6 | % | ||||
N-BOX |
*1 |
Source: JAMA (Japan Automobile Manufacturers Association), as measured by the number of regular vehicle registrations (661cc or higher) and mini vehicles (660cc or lower) |
*2 |
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 external customers in the Automobile business. Accordingly, they are not included in consolidated unit sales. |
* |
Source: Autodata |
* |
Source: ACEA (Association des Constructeurs Europeens d’Automobiles (the European Automobile Manufacturers’ Association)) New passenger car registrations cover 27 EU countries, three EFTA countries, and the U.K. |
*1 |
The total is based on Honda research and includes the following eight countries: Thailand, Indonesia, Malaysia, the Philippines, Vietnam, Taiwan, India, and Pakistan. |
*2 |
Source: CAAM (China Association of Automobile Manufacturers) |
*3 |
The total includes the following seven countries: Thailand, Indonesia, Malaysia, Vietnam, Taiwan, India, and Pakistan. |
* |
Source: ANFAVEA (Associação Nacional dos Fabricantes de Veiculos Automotores (the Brazilian Automobile Association)) The total includes passenger cars and light commercial vehicles. |
* |
OEM (Original Equipment Manufacturer) engines refer to engines installed on products sold under a third-party brand. |
* |
Source: JAMA (Japan Automobile Manufacturers Association) |
* |
Source: MIC (Motorcycle Industry Council) |
* |
Based on Honda research. Only includes the following 10 countries: the United Kingdom, Germany, France, Italy, Spain, Switzerland, Portugal, the Netherlands, Belgium and Austria. |
* |
Based on Honda research. Only includes the following seven countries: Thailand, Indonesia, Malaysia, the Philippines, Vietnam, Pakistan, and China. |
* |
Source: ABRACICLO (the Brazilian Association of Motorcycle, Moped, and Bicycle Manufacturers) |
Fiscal year ended March 31, |
||||||||
2020 |
2021 |
|||||||
Passenger cars: |
48 | % | 43 | % | ||||
ACCORD, CITY, CIVIC, CRIDER, FIT/JAZZ |
||||||||
Light trucks: |
45 | % | 50 | % | ||||
BREEZE, CR-V, FREED, ODYSSEY, PILOT, VEZEL/HR-V, XR-V |
||||||||
Mini vehicles: |
7 | % | 7 | % | ||||
N-BOX |
* 1 |
Source: JAMA (Japan Automobile Manufacturers Association), as measured by the number of regular vehicle registrations (661cc or higher) and mini vehicles (660cc or lower) |
* 2 |
Certain sales of automobiles that are financed with residual value type auto loans by our Japanese finance subsidiaries and sold through our consolidated subsidiaries are accounted for as operating leases in conformity with IFRS and are not included in consolidated sales revenue to external customers in the Automobile business. Accordingly, they are not included in consolidated unit sales. |
* |
Source: Autodata |
* |
Source: ACEA (Association des Constructeurs Europeens d’Automobiles (the European Automobile Manufacturers’ Association)) New passenger car registrations cover 27 EU countries, three EFTA countries and the U.K. |
* 1 |
Source: CAAM (China Association of Automobile Manufacturers) |
* 2 |
The total is based on Honda research and includes the following eight countries: Thailand, Indonesia, Malaysia, the Philippines, Vietnam, Taiwan, India and Pakistan. |
* 3 |
The total includes the following eight countries: Thailand, Indonesia, Malaysia, the Philippines, Vietnam, Taiwan, India and Pakistan. |
* |
Source: ANFAVEA (Associação Nacional dos Fabricantes de Veiculos Automotores (the Brazilian Automobile Association)) The total includes passenger cars and light commercial vehicles. |
* |
OEM (Original Equipment Manufacturer) engines: refers to engines installed on products sold under a third-party brand. |
Credit ratings for |
||||||||
Short-term unsecured debt securities |
Long-term unsecured debt securities |
|||||||
Moody’s Investors Service |
P-2 |
A3 | ||||||
Standard & Poor’s Rating Services |
A-2 |
A- | ||||||
Rating and Investment Information |
a-1+ |
AA |
Yen (millions) |
||||||||||||||||||||
Payments due by period |
||||||||||||||||||||
Total |
Within 1 year |
1-3 years |
3-5 years |
Thereafter |
||||||||||||||||
Financing liabilities |
¥ | 8,391,545 | ¥ | 3,218,988 | ¥ | 3,187,759 | ¥ | 1,219,591 | ¥ | 765,207 | ||||||||||
Other financial liabilities |
579,669 | 146,949 | 133,571 | 67,480 | 231,669 | |||||||||||||||
Purchase and other commitments *1 |
60,527 | 51,175 | 8,955 | 397 | — | |||||||||||||||
Contributions to defined benefit pension plans *2 |
40,976 | 40,976 | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | 9,072,717 | ¥ | 3,458,088 | ¥ | 3,330,285 | ¥ | 1,287,468 | ¥ | 996,876 | ||||||||||
|
|
|
|
|
|
|
|
|
|
*1 |
Honda had commitments for purchases of property, plant and equipment as of March 31, 2022. |
*2 |
Since contributions beyond the next fiscal year are not currently determinable, contributions to defined benefit pension plans reflect only contributions expected for the next fiscal year. |
Yen (millions) |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Provisions for product warranties |
||||||||||||
Balance at beginning of year |
¥ | 458,482 | ¥ | 380,689 | ¥ | 481,023 | ||||||
|
|
|
|
|
|
|||||||
Provision* |
¥ | 212,275 | ¥ | 272,076 | ¥ | 118,378 | ||||||
Write-offs |
(250,522 | ) | (166,206 | ) | (172,754 | ) | ||||||
Reversal |
(26,843 | ) | (22,002 | ) | (36,882 | ) | ||||||
Exchange differences on translating foreign operations |
(12,703 | ) | 16,466 | 29,436 | ||||||||
|
|
|
|
|
|
|||||||
Balance at end of year |
¥ | 380,689 | ¥ | 481,023 | ¥ | 419,201 | ||||||
|
|
|
|
|
|
|||||||
Sales revenue |
¥ | 14,931,009 | ¥ | 13,170,519 | ¥ | 14,552,696 |
* |
Provisions for product warranties accrued during the period for the years ended March 31, 2020, 2021 and 2022 are ¥212.2 billion, ¥272.0 billion and ¥118.3 billion, respectively, due mainly to the future warranty costs for product recalls in the Automobile business. |
Stage 1 | 12-month ECL for financial assets without a significant increase in credit risk since initial recognition |
Stage 2 | Lifetime ECL for financial assets with a significant increase in credit risk since initial recognition but that are not credit-impaired |
Stage 3 | Lifetime ECL for credit-impaired financial assets |
Yen (millions) |
||||||||||||||||
For the year ended March 31, 2020 |
Retail |
Finance lease |
Wholesale |
Total |
||||||||||||
Allowance for credit losses |
||||||||||||||||
Balance at beginning of year |
¥ | 39,760 | ¥ | 730 | ¥ | 2,713 | ¥ | 43,203 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Remeasurement |
¥ | 54,833 | ¥ | 142 | ¥ | 1,905 | ¥ | 56,880 | ||||||||
Write-offs |
(31,436 | ) | (130 | ) | (1,784 | ) | (33,350 | ) | ||||||||
Exchange differences on translating foreign operations |
(2,916 | ) | (52 | ) | (297 | ) | (3,265 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance at end of year |
¥ | 60,241 | ¥ | 690 | ¥ | 2,537 | ¥ | 63,468 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Ending balance of receivables from financial services |
¥ | 4,440,364 | ¥ | 125,958 | ¥ | 666,992 | ¥ | 5,233,314 | ||||||||
Average balance of receivables from financial services |
¥ | 4,552,643 | ¥ | 132,568 | ¥ | 651,139 | ¥ | 5,336,350 | ||||||||
Write-offs as a % of average balance of receivables from financial services |
0.69 | % | 0.10 | % | 0.27 | % | 0.62 | % | ||||||||
Allowance as a % of ending balance of receivables from financial services |
1.36 | % | 0.55 | % | 0.38 | % | 1.21 | % |
Yen (millions) |
||||||||||||||||
For the year ended March 31, 2021 |
Retail |
Finance lease |
Wholesale |
Total |
||||||||||||
Allowance for credit losses |
||||||||||||||||
Balance at beginning of year |
¥ | 60,241 | ¥ | 690 | ¥ | 2,537 | ¥ | 63,468 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Remeasurement |
¥ | (4,778 | ) | ¥ | 142 | ¥ | (402 | ) | ¥ | (5,038 | ) | |||||
Write-offs |
(20,733 | ) | (107 | ) | 18 | (20,822 | ) | |||||||||
Exchange differences on translating foreign operations |
(444 | ) | 88 | 114 | (242 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance at end of year |
¥ | 34,286 | ¥ | 813 | ¥ | 2,267 | ¥ | 37,366 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Ending balance of receivables from financial services |
¥ | 4,847,906 | ¥ | 126,766 | ¥ | 486,138 | ¥ | 5,460,810 | ||||||||
Average balance of receivables from financial services |
¥ | 4,547,545 | ¥ | 123,547 | ¥ | 501,943 | ¥ | 5,173,035 | ||||||||
Write-offs as a % of average balance of receivables from financial services |
0.46 | % | 0.09 | % | 0.00 | % | 0.40 | % | ||||||||
Allowance as a % of ending balance of receivables from financial services |
0.71 | % | 0.64 | % | 0.47 | % | 0.68 | % |
Yen (millions) | ||||||||||||||||
For the year ended March 31, 2022 |
Retail |
Finance lease |
Wholesale |
Total |
||||||||||||
Allowance for credit losses |
||||||||||||||||
Balance at beginning of year |
¥ | 34,286 | ¥ | 813 | ¥ | 2,267 | ¥ | 37,366 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Remeasurement |
¥ | 10,263 | ¥ | (255 | ) | ¥ | (726 | ) | ¥ | 9,282 | ||||||
Write-offs |
(12,256 | ) | (97 | ) | 30 | (12,323 | ) | |||||||||
Exchange differences on translating foreign operations |
4,474 | 26 | 238 | 4,738 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance at end of year |
¥ | 36,767 | ¥ | 487 | ¥ | 1,809 | ¥ | 39,063 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Ending balance of receivables from financial services |
¥ | 5,054,428 | ¥ | 145,932 | ¥ | 284,506 | ¥ | 5,484,866 | ||||||||
Average balance of receivables from financial services |
¥ | 4,964,846 | ¥ | 134,316 | ¥ | 319,583 | ¥ | 5,418,744 | ||||||||
Write-offs as a % of average balance of receivables from financial services |
0.25 | % | 0.07 | % | (0.01 | )% | 0.23 | % | ||||||||
Allowance as a % of ending balance of receivables from financial services |
0.73 | % | 0.33 | % | 0.64 | % | 0.71 | % |
Yen (millions) |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Remeasurement for credit losses on past due lease payments under operating leases |
¥ | 3,046 | ¥ | 3,287 | ¥ | 225 | ||||||
Impairment losses (reversal of impairment losses) on operating leases due to early termination |
¥ | 36,037 | ¥ | (16,321 | ) | ¥ | 1,872 |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Chairman and Director |
||||||||||
Seiji Kuraishi |
Joined Honda Motor Co., Ltd. in April 1982 | *3 | 43,000 | |||||||
(July 10, 1958) |
Operating Officer, appointed in June 2011 |
|||||||||
President of Honda Motor (China) Technology Co., Ltd., appointed in November 2013 |
||||||||||
Managing Officer of the Company, appointed in April 2014 |
||||||||||
Senior Managing Officer, appointed in April 2016 |
||||||||||
Executive Vice President, Executive Officer and Representative Director, appointed in June 2016 |
||||||||||
Risk Management Officer, appointed in June 2016 |
||||||||||
Corporate Brand Officer, appointed in June 2016 |
||||||||||
Chief Operating Officer, appointed in April 2017 |
||||||||||
In Charge of Strategy, Business Operations and Regional Operations, appointed in April 2017 |
||||||||||
Executive Vice President and Representative Director, appointed in June 2017 |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Director in Charge of Strategy, Business Operations and Regional Operations, appointed in April 2019 |
||||||||||
Chief Officer for Automobile Operations, appointed in April 2019 |
||||||||||
Director, Executive Vice President and Representative Executive Officer, appointed in June 2021 |
||||||||||
Compensation Committee Member, appointed in June 2021 |
||||||||||
Chairman and Director, appointed in April 2022 (presently held) |
||||||||||
Chairman of the Board of Directors, appointed in April 2022 (presently held) |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Director and Representative Executive Officers |
||||||||||
Toshihiro Mibe (July 1, 1961) |
Joined Honda Motor Co., Ltd. in April 1987 | *3 | 22,600 | |||||||
Managing Officer of Honda R&D Co., Ltd., appointed in April 2012 |
||||||||||
Operating Officer of the Company, appointed in April 2014 |
||||||||||
Executive in Charge of Powertrain Business for Automobile Operations, appointed in April 2014 |
||||||||||
Head of Powertrain Production Supervisory Unit of Automobile Production for Automobile Operations, appointed in April 2014 |
||||||||||
Executive in Charge of Powertrain Business and Drivetrain Business for Automobile Operations, appointed in April 2015 |
||||||||||
Head of Drivetrain Business Unit in Automobile Production for Automobile Operations, appointed in April 2015 |
||||||||||
Senior Managing Officer and Director of Honda R&D Co., Ltd., appointed in April 2016 |
||||||||||
Managing Officer of the Company, appointed in April 2018 |
||||||||||
Executive Vice President and Director of Honda R&D Co., Ltd., appointed in April 2018 |
||||||||||
President and Representative Director of Honda R&D Co., Ltd., appointed in April 2019 |
||||||||||
In Charge of Intellectual Property and Standardization of the Company, appointed in April 2019 |
||||||||||
Senior Managing Officer, appointed in April 2020 |
||||||||||
In Charge of Mono-zukuri (Research & Development, Production, Purchasing, Quality, Parts, Service, Intellectual Property, Standardization and IT), appointed in April 2020 |
||||||||||
Risk Management Officer, appointed in April 2020 |
||||||||||
Senior Managing Director, appointed in June 2020 |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Director in Charge of Mono-zukuri (Research & Development, Production, Purchasing, Quality, Parts, Service, Intellectual Property, Standardization and IT), appointed in June 2020 |
||||||||||
President and Representative Director, appointed in April 2021 |
||||||||||
Chief Executive Officer, appointed in April 2021 (presently held) |
||||||||||
Director, President and Representative Executive Officer, appointed in June 2021 (presently held) |
||||||||||
Nominating Committee Member, appointed in June 2021 (presently held) |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Kohei Takeuchi |
Joined Honda Motor Co., Ltd. in April 1982 | *3 | 31,700 | |||||||
(February 10, 1960) |
Operating Officer, appointed in April 2011 |
|||||||||
Chief Officer for Business Management Operations, appointed in April 2013 |
||||||||||
Operating Officer and Director, appointed in June 2013 |
||||||||||
Managing Officer and Director, appointed in April 2015 |
||||||||||
Senior Managing Officer and Director, appointed in April 2016 |
||||||||||
Chief Officer for Driving Safety Promotion Center, appointed in April 2016 |
||||||||||
Chief Financial Officer (Accounting, Finance, Human Resources, Corporate Governance and IT), appointed in April 2017 |
||||||||||
Senior Managing Director, appointed in June 2017 |
||||||||||
Chief Financial Officer and Director in Charge of Finance and Administration (Accounting, Finance, Human Resources, Corporate Governance and IT), appointed in April 2019 |
||||||||||
Compliance Officer, appointed in April 2019 |
||||||||||
Chief Financial Officer and Director in Charge of Finance and Administration (Accounting, Finance, Human Resources, and Corporate Governance), appointed in April 2020 |
||||||||||
Chief Financial Officer, appointed in April 2021 (presently held) |
||||||||||
Director, Senior Managing Executive Officer, appointed in June 2021 |
||||||||||
Director, Executive Vice President and Representative Executive Officer, appointed in April 2022 (presently held) |
||||||||||
Compensation Committee Member, appointed in April 2022 (presently held) |
||||||||||
Risk Management Officer, appointed in April 2022 (presently held) |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Director, Senior Managing Executive Officer |
||||||||||
Shinji Aoyama |
Joined Honda Motor Co., Ltd. in April 1986 | *3 | 35,900 | |||||||
(December 25, 1963) |
Operating Officer, appointed in April 2012 |
|||||||||
Chief Officer for Motorcycle Operations, appointed in April 2013 |
||||||||||
Operating Officer and Director, appointed in June 2013 |
||||||||||
Chief Officer for Regional Operations (Asia & Oceania), appointed in April 2017 |
||||||||||
President and Director of Asian Honda Motor Co., Ltd., appointed in April 2017 |
||||||||||
Operating Officer of the Company (resigned from position as Director), appointed in June 2017 |
||||||||||
Managing Officer, appointed in April 2018 |
||||||||||
Vice Chief Officer for Regional Operations (North America), appointed in April 2018 |
||||||||||
Senior Executive Vice President, Chief Operating Officer and Director of Honda North America, Inc., appointed in April 2018 |
||||||||||
Senior Executive Vice President, Chief Operating Officer and Director of American Honda Motor Co., Inc., appointed in April 2018 |
||||||||||
President, Chief Operating Officer and Director of Honda North America, Inc., appointed in November 2018 |
||||||||||
President, Chief Operating Officer and Director of American Honda Motor Co., Inc., appointed in November 2018 |
||||||||||
Chief Officer for Regional Operations (North America) of the Company, appointed in April 2019 |
||||||||||
President, Chief Executive Officer and Director of Honda North America, Inc., appointed in April 2019, |
||||||||||
President, Chief Executive Officer and Director of American Honda Motor Co., Inc. appointed in April 2019, |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Managing Officer in Charge of Electrification of the Company, appointed in July 2021 |
||||||||||
Managing Executive Officer, appointed in October 2021 |
||||||||||
Senior Managing Executive Officer, appointed in April 2022 |
||||||||||
Chief Officer for Business Development Operations, appointed in April 2022 (presently held) |
||||||||||
Corporate Brand Officer, appointed in April 2022 (presently held) |
||||||||||
Chief Officer for Automobile Operations, appointed in June 2022 (presently held) |
||||||||||
Director, Senior Managing Executive Officer, appointed in June 2022 (presently held) |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Directors |
||||||||||
Asako Suzuki |
Joined Honda Motor Co., Ltd. in April 1987 | *3 | 20,600 | |||||||
(January 28, 1964) |
President of Dongfeng Honda Automobile Co., Ltd., appointed in April 2014 |
|||||||||
Operating Officer of the Company, appointed in April 2016 |
||||||||||
Vice Chief Officer for Regional Operations (Japan), appointed in April 2018 |
||||||||||
Chief Officer for Human Resources and Corporate Governance Operations, appointed in April 2019 |
||||||||||
Operating Executive, appointed in April 2020 |
||||||||||
Director, appointed in June 2021 (presently held) |
||||||||||
Full-time Audit Committee Member, appointed in June 2021 (presently held) |
||||||||||
Masafumi Suzuki |
Joined Honda Motor Co., Ltd. in April 1987 | *3 | 58,520 | |||||||
(April 23, 1964) |
General Manager of Regional Operation Planning Office for Regional Operations (Europe, CIS, the Middle & Near East and Africa), appointed in April 2012 |
|||||||||
General Manager of Accounting Division for Business Management Operations, appointed in April 2013 |
||||||||||
Director (Full-time Audit and Supervisory Committee Member), appointed in June 2017 |
||||||||||
Director, appointed in June 2021 (presently held) |
||||||||||
Full-time Audit Committee Member, appointed in June 2021 (presently held) |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Kunihiko Sakai (March 4, 1954) |
Public Prosecutor of Tokyo District Public Prosecutors’ Office, appointed in April 1979 |
*3 | 1,200 | |||||||
President of Research and Training Institute of Ministry of Justice, appointed in June 2012 | ||||||||||
Superintending Prosecutor of Takamatsu High Public Prosecutors’ Office, appointed in July 2014 |
||||||||||
Superintending Prosecutor of Hiroshima High Public Prosecutors’ Office, appointed in September 2016 (resigned in March 2017) |
||||||||||
Registered with the Dai-Ichi Tokyo Bar Association in April 2017 |
||||||||||
Advisor Attorney to TMI Associates, appointed in April 2017 (presently held) |
||||||||||
Audit and Supervisory Board Member (Outside) of Furukawa Electric Co., Ltd., appointed in June 2018 (presently held) |
||||||||||
Director (Audit and Supervisory Committee Member) of the Company, appointed in June 2019 |
||||||||||
Director, appointed in June 2021 (presently held) |
||||||||||
Nominating Committee Member, appointed in June 2021 (presently held) |
||||||||||
Audit Committee Member, appointed in June 2021 (presently held) |
||||||||||
Fumiya Kokubu |
Joined Marubeni Corporation in April 1975 | *3 | 700 | |||||||
(October 6, 1952) |
Senior Executive Vice President of Marubeni Corporation, appointed in April 2012 |
|||||||||
Senior Executive Vice President, Member of the Board of Marubeni Corporation, appointed in June 2012 |
||||||||||
President and CEO, Member of the Board of Marubeni Corporation, appointed in April 2013 |
||||||||||
Chairman of the Board of Marubeni Corporation, appointed in April 2019 (presently held) |
||||||||||
Outside Director of Taisei Corporation, appointed in June 2019 (presently held) |
||||||||||
Director of the Company, appointed in June 2020 (presently held) |
||||||||||
Nominating Committee Member (Chairperson), appointed in June 2021 (presently held) |
||||||||||
Compensation Committee Member, appointed in June 2021 (presently held) |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Yoichiro Ogawa (February 19, 1956) |
Joined Tohmatsu & Aoki Audit Corporation (currently Deloitte Touche Tohmatsu LLC) in October 1980 | *3 | 200 | |||||||
Registered as Japanese Certified Public Accountant in March 1984 |
||||||||||
Vice Chairman of the Board of Directors of Deloitte Touche Tohmatsu Limited (United Kingdom), appointed in June 2011 |
||||||||||
Deputy CEO of Deloitte Touche Tohmatsu LLC, appointed in October 2013 |
||||||||||
Deputy CEO of Tohmatsu Group (currently Deloitte Tohmatsu Group), appointed in October 2013 |
||||||||||
Global Managing Director for Asia Pacific of Deloitte Touche Tohmatsu Limited (United Kingdom), appointed in June 2015 (resigned in May 2018) |
||||||||||
CEO of Deloitte Tohmatsu Group, appointed in July 2015 |
||||||||||
Senior Advisor of Deloitte Tohmatsu Group, appointed in June 2018 (resigned in October 2018) |
||||||||||
Founder of Yoichiro Ogawa CPA Office in November 2018 (presently held) | ||||||||||
Outside Audit & Supervisory Board Member of Recruit Holdings Co., Ltd., appointed in June 2020 (presently held) |
||||||||||
Director of the Company, appointed in June 2021 (presently held) |
||||||||||
Audit Committee Member (Chairperson), appointed in June 2021 (presently held) |
||||||||||
Compensation Committee Member, appointed in June 2021 (presently held) |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Kazuhiro Higashi |
Joined Resona Group in April 1982 | *3 | 200 | |||||||
(April 25, 1957) |
Director, Deputy President and Representative Executive Officer of Resona Holdings, Inc., appointed in April 2011 |
|||||||||
Executive Officer of Resona Bank, Limited, appointed in April 2011 |
||||||||||
Representative Director, Deputy President and Executive Officer of Resona Bank, Limited, appointed in April 2012 |
||||||||||
Director, President and Representative Executive Officer of Resona Holdings, Inc., appointed in April 2013 |
||||||||||
Representative Director, President and Executive Officer of Resona Bank, Limited, appointed in April 2013 |
||||||||||
Chairman of Osaka Bankers Association, appointed in June 2013 (resigned in June 2014) |
||||||||||
Chairman of the Board, President, and Representative Director of Resona Bank, Limited, appointed in April 2017 |
||||||||||
Chairman of Osaka Bankers Association, appointed in June 2017 (resigned in June 2018) |
||||||||||
Chairman of the Board, President, Representative Director and Executive Officer of Resona Bank, Limited, appointed in April 2018 |
||||||||||
Chairman and Director of Resona Holdings, Inc., appointed in April 2020 (presently held) |
||||||||||
Chairman and Director of Resona Bank, Limited, appointed in April 2020 (presently held) |
||||||||||
Outside Director of Sompo Holdings, Inc., appointed in June 2020 (presently held) |
||||||||||
Director of the Company, appointed in June 2021 (presently held) |
||||||||||
Nominating Committee Member, appointed in June 2021 (presently held) |
||||||||||
Compensation Committee Member (Chairperson), appointed in June 2021 (presently held) |
||||||||||
Ryoko Nagata |
Joined Japan Tobacco Inc. in April 1987 | *3 | 200 | |||||||
(July 14, 1963) |
Executive Officer of Japan Tobacco Inc., appointed in June 2008 |
|||||||||
Standing Audit & Supervisory Board Member of Japan Tobacco Inc., appointed in March 2018 (presently held) |
||||||||||
Director of the Company, appointed in June 2021 (presently held) |
||||||||||
Audit Committee Member, appointed in June 2021 (presently held) |
*1 | Effective on June 23, 2021, Honda adopted the Three Committees system under the Company Law. |
*2 | Directors Mr. Kunihiko Sakai, Mr. Fumiya Kokubu, Mr. Yoichiro Ogawa, Mr. Kazuhiro Higashi, and Ms. Ryoko Nagata are Outside Directors. |
*3 | The term of office of a Director is until at the close of the ordinary general meeting of shareholders of the fiscal year ending March 31, 2023 after his/her election to office at the close of the ordinary general meeting of shareholders on June 22, 2022. |
Director’s Name |
Nominating Committee |
Audit Committee |
Compensation Committee | |||
Toshihiro Mibe | ○ |
|||||
Kohei Takeuchi | ○ | |||||
Asako Suzuki | ○ |
|||||
Masafumi Suzuki | ○ |
|||||
Kunihiko Sakai | ○ |
○ |
||||
Fumiya Kokubu | · |
○ | ||||
Yoichiro Ogawa | · |
○ | ||||
Kazuhiro Higashi | ○ |
· | ||||
Ryoko Nagata | ○ |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Managing Executive Officers |
||||||||||
Noriaki Abe (October 8, 1962) |
Joined Honda Motor Co., Ltd. in April 1986 | *4 | 18,600 | |||||||
Operating Officer, appointed in April 2014 |
||||||||||
Chief Officer for Regional Operations (Asia & Oceania), appointed in April 2014 |
||||||||||
President and Director of Asian Honda Motor Co., Ltd., appointed in April 2014 |
||||||||||
President and Director of Honda Automobile (Thailand) Co., Ltd., appointed in April 2014 |
||||||||||
Chief Officer for Motorcycle Operations of the Company, appointed in April 2017 |
||||||||||
Managing Officer, appointed in April 2019 |
||||||||||
Chief Officer for Regional Operations (Japan), appointed in April 2021 (presently held) |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Chief Officer for Traffic Safety Promotion Operations, appointed in April 2021 (presently held) |
||||||||||
Managing Executive Officer, appointed in June 2021 (presently held) |
||||||||||
Risk Management Officer, appointed in October 2021 |
||||||||||
Compliance Officer, appointed in April 2022 (presently held) |
Name (Date of birth) |
Current Positions and Biographies with Registrant |
Term |
Number of Shares Owned |
|||||||
Keiji Ohtsu (July 7, 1964) |
Joined Honda R&D Co., Ltd. in April 1983 | *4 | 15,400 | |||||||
Operating Officer of Honda R&D Co., Ltd., appointed in April 2013 |
||||||||||
Managing Officer of Honda R&D Co., Ltd., appointed in April 2014 |
||||||||||
Operating Officer of the Company, appointed in April 2018 |
||||||||||
Chief Quality Officer, appointed in April 2018 |
||||||||||
Operating Executive, appointed in April 2020 |
||||||||||
Chief Officer for Quality Innovation Operations, appointed in April 2020 |
||||||||||
In Charge of Certification & Regulation Compliance Division, appointed in April 2020 |
||||||||||
In Charge of Quality & Compliance Audit Division, appointed in April 2020 |
||||||||||
Managing Officer, appointed in April 2021 |
||||||||||
President and Representative Director of Honda R&D Co., Ltd., appointed in April 2021 (presently held) |
||||||||||
Managing Executive Officer of the Company, appointed in June 2021 (presently held) |
*4 | The term of office of an Executive Officer is until at the close of the first Board of Directors meeting held after the ordinary general meeting of shareholders of the fiscal year ending March 31, 2023 after his/her appointment to office. |
*5 | The Company has adopted an operating officer system to strengthen operations in regions and local workplaces, and implement quick and appropriate decisions. 20-F. The Company’s Senior Managing Officers and Managing Officers under the operating officer system, as voluntarily disclosed in Japan, are as follows: |
Senior Managing Officers |
||
Yasuhide Mizuno |
Honda-Sony JV Prep Office | |
Hisao Takahashi |
General Manager of Mono-zukuri Center for Automobile Operations | |
Director of Honda R&D Co., Ltd. | ||
Managing Officers |
||
Noriya Kaihara |
Chief Officer for Regional Operations (North America) | |
President, Chief Executive Officer and Director of American Honda Motor Co., Inc. | ||
Mitsugu Matsukawa |
President and Director of Honda Development & Manufacturing of America, LLC |
Katsushi Inoue |
Chief Officer for Regional Operations (China) | |
President of Honda Motor (China) Investment Co., Ltd. | ||
President of Honda Motor (China) Technology Co., Ltd. | ||
Yoshishige Nomura |
Chief Officer for Motorcycle and Power Products Operations | |
Masayuki Igarashi |
Chief Officer for Regional Operations (Asia & Oceania) | |
President and Director of Asian Honda Motor Co., Ltd. | ||
Kensuke Oe |
Head of Production Supervisory Unit for Automobile Operations |
*6 | The Company introduced the Operating Executive position effective April 1, 2020, with the aim of advancing its corporate executive structure and enabling the Company to address changes in the business environment with greater speed and flexibility. Operating Executives will engage in company operations, with responsibility for business execution in their respective areas under the direction and supervision of management. Operating Executives are not statutory positions under the Company Law and do not conform to the definition of “Directors and Senior Management” as defined in Form 20-F. |
1. | The Company’s remuneration structure for Directors and Executive Officers is designed to motivate officers to contribute to the improvement of the Company’s business performance not only over the short-term, but also over the mid- to long-term, so that the Company can continuously enhance its corporate value, and it consists of monthly remuneration, a fixed amount paid each month as remuneration for the execution of duties, STI (Short Term Incentive) based on business performance for the relevant fiscal year, and LTI (Long Term Incentive) based on the mid- to long-term business performance. |
2. | Monthly remuneration shall be paid as a fixed amount each month based on remuneration standards resolved by the Compensation Committee. |
3. | STI shall be determined and paid by resolution of the Compensation Committee, taking into consideration the business performance of each fiscal year. |
4. | Based on standards and procedures approved by the Compensation Committee, LTI is based on the mid- to long-term performance and paid in the form of the Company’s shares and cash, in order to function as a sound incentive for sustainable growth. |
5. | Remuneration paid to Directors who concurrently serve as Executive Officers and Executive Officers shall consist of monthly remuneration, STI and LTI, and the composition rate shall be determined based on the remuneration standards resolved by the Compensation Committee. The composition ratio of variable compensation is increased according to the weight of management responsibility attributed to each position. |
6. | Remuneration paid to Outside Directors and other Directors who do not concurrently serve as Executive Officers shall consist only of monthly remuneration. |
7. | In order to advance the Company’s sustainable growth and enhance its corporate value over the mid-to long-term by sharing common interests with the shareholders through having a shareholding in the Company, even Directors and Executive Officers who are not eligible for LTI shall acquire the Company’s stock by contributing a certain portion of their remuneration to the Officers Shareholding Association. |
8. | Directors and Executive Officers shall continuously hold, throughout their term of office and for one year after their retirement, any stock of the Company acquired as LTI or acquired through the Officers Shareholding Association. |
1. | Outline of remuneration system for Executive Officers |
Type of remuneration |
Based on performance |
Fluctuation |
Payment method |
Payment timing |
Remuneration composition ratio (When STI/LTI are paid at the base amount) | |||||||||
President |
Vice President, Senior Managing Executive Officer |
Managing Executive Officer | ||||||||||||
Monthly remuneration |
Fixed | — | Cash | Monthly | 25% | 40% | 50% | |||||||
STI |
Short-term performance-based remuneration |
0 to 180% | Cash | Annually | 25% | 30% | 25% | |||||||
LTI |
Medium- to long-term performance-based remuneration | 50 to 150% | Stock | Three years after granting points each year | 50% | 30% | 25% |
2. | Monthly remuneration |
3. | STI |
KPIs (Consolidated accounting) |
Evaluation method |
Weight of each KPI | ||
Operating profit margin | Degree of achievement of targets | 50% | ||
Profit attributable to owners of the parent | 50% |
KPIs |
Evaluation method |
Weight of each KPI | ||
Individual targets set according to role | Degree of achievement of individual targets | 100% |
STI payment |
= | Standard STI | x | Company’s performance coefficient |
x | Individual performance coefficient |
4. | LTI |
KPIs |
Evaluation method |
Weight |
Fluctuation | |||||
Financial indicators | Consolidated profit before income taxes | Evaluated based on growth over the past three fiscal years |
35% | 50 to 150% | ||||
Consolidated operating profit margin | 35% | |||||||
Non-financial indicators |
Brand value | Evaluated based on degree of achievement of targets |
30% | |||||
SRI index | ||||||||
Associate Engagement |
* |
Non-financial indicators are evaluated based on the following indicators: |
- | Brand value: Survey of motorcycle/automobile/life creation businesses by a third-party research firm |
- | SRI index: Dow Jones Sustainability World Index |
- | Associate Engagement: Survey of employee activeness in each region by a third-party research firm |
- | Basic policies and annual activity plans |
- | Remuneration standards for Directors and Executive Officers |
- | Stock-based compensation plan and share delivery rules |
Fixed remuneration |
Performance-based remuneration |
Total |
||||||||||||||||||||||||||
Remuneration |
STI |
LTI |
||||||||||||||||||||||||||
Number of persons |
Yen (millions) |
Number of persons |
Yen (millions) |
Number of persons |
Yen (millions) |
Yen (millions) |
||||||||||||||||||||||
Directors excluding Audit and Supervisory Committee Members and outside Directors |
6 |
¥ |
113 |
— |
¥ |
— |
3 |
¥ |
26 |
¥ |
139 |
|||||||||||||||||
Outside Directors excluding Audit and Supervisory Committee Members |
2 |
8 |
— |
— |
— |
— |
8 |
|||||||||||||||||||||
Audit and Supervisory Committee Members excluding outside Directors |
2 |
36 |
— |
— |
— |
— |
36 |
|||||||||||||||||||||
Outside Audit and Supervisory Committee Members |
3 |
12 |
— |
— |
— |
— |
12 |
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total |
13 |
¥ |
169 |
— |
¥ |
— |
3 |
¥ |
26 |
¥ |
195 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed remuneration |
Performance-based remuneration |
Total |
||||||||||||||||||||||||||
Remuneration |
STI |
LTI |
||||||||||||||||||||||||||
Number of persons |
Yen (millions) |
Number of persons |
Yen (millions) |
Number of persons |
Yen (millions) |
Yen (millions) |
||||||||||||||||||||||
Directors excluding Outside Directors |
3 |
¥ |
181 |
— |
¥ |
— |
— |
¥ |
— |
¥ |
181 |
|||||||||||||||||
Outside Directors |
5 |
66 |
— |
— |
— |
— |
66 |
|||||||||||||||||||||
Executive Officers |
8 |
280 |
8 |
188 |
8 |
133 |
601 |
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total |
16 |
¥ |
527 |
8 |
¥ |
188 |
8 |
¥ |
133 |
¥ |
848 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 1 |
Effective on June 23, 2021, Honda adopted a “company with three committees” corporate governance system (the “Three Committees system”). |
* 2 |
Directors excluding Outside Directors do not include three directors who concurrently serve as Executive Officers. |
Type of trust |
An individually-operated specified trust of money other than cash trust (third party beneficiary trust) |
Purpose of trust |
To further enhance mindfulness of Executive Officers Etc. toward contributing to the sustained improvement of corporate value of the Company over the mid- to long-term |
Trustor |
The Company |
Trustee |
Mitsubishi UFJ Trust and Banking Corporation |
Beneficiaries |
Executive Officers Etc. who satisfy the beneficiary requirements |
Trust administrator |
A third party which has no interests in the Company (a certified public accountant) |
Date of trust agreement |
August 20, 2018 |
Period of trust |
From August 20, 2018 to August 31, 2024 |
Exercise of voting rights of Company shares |
None |
Class of shares acquired |
Common shares of the Company |
Amount of trust money added at the time of the trust period extension |
1,975 million yen (including trust fees and trust expenses) |
Timing of acquisition of shares |
August 20, 2021 |
Method of acquisition of shares |
Acquisition from stock market |
Holder of vested rights |
The Company |
Residual assets |
The residual assets that the Company can obtain as a holder of vested rights shall be included in the trust expenses reserve |
Total |
Motorcycle Business |
Automobile Business |
Financial Services Business |
Life Creation and Other Businesses | ||||
218,674 |
47,013 | 159,555 | 2,455 | 9,651 | ||||
|
|
|
|
|
Total |
Motorcycle Business |
Automobile Business |
Financial Services Business |
Life Creation and Other Businesses | ||||
211,374 |
46,255 | 153,413 | 2,385 | 9,321 | ||||
|
|
|
|
|
Total |
Motorcycle Business |
Automobile Business |
Financial Services Business |
Life Creation and Other Businesses | ||||
204,035 |
46,448 | 146,092 | 2,321 | 9,174 | ||||
|
|
|
|
|
Title of Class |
Amount Owned |
% of Class | ||
Common Stock | 248,820 shares | 0.015% |
Name |
Shares owned (thousands) |
Ownership (%) |
||||||
The Master Trust Bank of Japan, Ltd. (Trust Account) |
269,361 | 15.7 | ||||||
Moxley & Co. LLC* |
107,517 | 6.3 | ||||||
Custody Bank of Japan, Ltd. (Trust Account) |
107,250 | 6.3 |
* | Moxley & Co., LLC is the nominee of JPMorgan Chase Bank, N.A., which acts as the Depositary for the Honda’s ADSs. |
Resolution of the Board of Directors |
Resolution of the Board of Directors |
|||||||
November 5, 2021 |
May 13, 2022 |
|||||||
Dividend per Share of Common Stock (yen) |
55.00 | 65.00 | ||||||
Total Amount of Dividends (millions of yen) |
95,130 | 111,256 |
• | Manufacture, sale, lease and repair of motor vehicles, ships and vessels, aircraft and other transportation machinery and equipment. |
• | Manufacture, sale, lease and repair of prime movers, agricultural machinery and appliances, generators, processing machinery and other general machinery and apparatus, electric machinery and apparatus and precision machinery and apparatus. |
• | Manufacture and sale of fiber products, paper products, leather products, lumber products, rubber products, chemical industry products, ceramic products, metal products and other products. |
• | Overland transportation business, marine transportation business, air transportation business, warehousing business, travel business and other transport business and communication business. |
• | Sale of sporting goods, articles of clothing, stationery, daily sundries, pharmaceuticals, drink and foodstuffs and other goods. |
• | Financial business, nonlife insurance agency business, life insurance agency business, construction business including building construction work and real estate business, including real estate brokerage. |
• | Publishing business, advertising business, translation business, interpretation business, management consultancy business, information services including information processing, information |
communication and information provision, industrial planning and design, comprehensive security business and labor dispatch services. |
• | Management of parking garages, driving schools, training and education facilities, racecourses, recreation grounds, sporting facilities, marina facilities, hotels, restaurants and other facilities. |
• | Electricity generation and supply and sale of electricity. |
• | Manufacture, sale and licensing of equipment, parts and supplies and all other relevant business activities and investments relating to each of the foregoing items. |
• | the overall tax consequences of the acquisition, ownership and disposition of shares or ADSs, including specifically the tax consequences under Japanese law; |
• | the laws of the jurisdiction of which they are resident; and |
• | any tax treaty between Japan and their country of residence. |
• | at least 75% of Honda’s gross income for the taxable year is passive income; or |
• | at least 50% of the value, determined on the basis of a quarterly average, of Honda’s assets is attributable to assets that produce or are held for the production of passive income. |
• | any gain it realizes on the sale or other disposition of its shares or ADSs; and |
• | any excess distribution that Honda makes to the U.S. holder (generally, any distributions to it during a single taxable year that are greater than 125% of the average annual distributions received by it in respect of the shares or ADSs during the three preceding taxable years or, if shorter, its holding period for the shares or ADSs). |
• | the gain or excess distribution will be allocated ratably over the U.S. holder’s holding period for the shares or ADSs, |
• | the amount allocated to the taxable year in which it realized the gain or excess distribution will be taxed as ordinary income, |
• | the amount allocated to each prior year, with certain exceptions, will be taxed at the highest tax rate in effect for that year, and |
• | the interest charge generally applicable to underpayments of tax will be imposed in respect of the tax attributable to each such year. |
Category (as defined by SEC) |
Depositary Actions |
Associated Fee | ||
(a) Depositing or substituting the underlying shares |
Each person to whom ADRs are issued against deposits of Shares, including without limitation, deposits and issuances in respect of: • Share distributions, stock split, rights, merger • Exchange of securities or any other transaction or event or other distribution affecting the ADSs or the deposited securities |
USD 5.00 for each 100 ADSs (or portion thereof) evidenced by the new ADRs delivered | ||
(b) Receiving or distributing dividends | Any Cash distribution made, or for any elective cash/ stock dividend offered. | USD 0.05 or less per ADS | ||
(c) Selling or exercising rights | Distribution or sale of securities, the fee being in an amount equal to the fee for the execution and delivery of ADSs which would have been charged as a result of the deposit of such securities | USD 5.00 for each 100 ADSs (or portion thereof) | ||
(d) Withdrawing an underlying security |
Acceptance of ADRs surrendered for withdrawal of deposited securities |
USD 5.00 for each 100 ADSs (or portion thereof) evidenced by the ADRs surrendered | ||
(e) Transferring, splitting or grouping receipts | Transfers, combining or grouping of depositary receipts |
Not applicable | ||
(f) General depositary services, particularly those charged on an annual basis | Services performed by the depositary in administering the ADSs | An aggregate fee of USD 0.05 or less per ADS per calendar year (or portion thereof) which fee may be charged on a periodic basis during each calendar year and shall be assessed against holders as of the record date or record dates set by the depositary during each calendar year and shall be payable at the sole discretion of the depositary by billing such holders or by deducting such charge from one or more cash dividends or other cash distributions |
Category |
Depositary Actions |
Associated Fee | ||
(g) Expenses of the depositary | Expenses incurred on behalf of holders in connection with | |||
• The servicing of the shares or other deposited securities, the sale of securities (including, without limitation, deposited securities), the delivery of deposited securities or otherwise in connection with the depositary’s or its custodian’s compliance with applicable law, rule or regulation. |
Fees for the reimbursement of such fees, charges and expenses may be charged on a periodic basis during each calendar year and shall be assessed on a proportionate basis against holders as of the record date or record dates set by the depositary during each calendar year and shall be payable at the sole discretion of the depositary by billing such holders or by deducting such charge from one or more cash dividends or other cash distributions. | |||
• Stock transfer or other taxes and other governmental charges. |
Fees for such charges to be payable by the holders or persons depositing shares. | |||
• SWIFT, cable, telex and facsimile transmission and delivery charges incurred at the request of persons depositing, or holders delivering shares, ADSs or deposited securities. |
Fees for such charges to be payable by the persons depositing or holders delivering shares, ADSs or deposited securities. | |||
• Transfer or registration fees for the registration or transfer of deposited securities on any applicable register in connection with the deposit or withdrawal of deposited securities. |
Fees for such charges to be payable by the persons depositing shares or holders withdrawing deposited securities. | |||
• In connection with the conversion of foreign currency into U.S. dollars, transferring foreign currency or U.S. dollars to the United States, obtaining any approval or license of any governmental authority required for such conversion or transfer or making any sale. |
To be deducted from cash distributed to holders. |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Audit Fees |
¥ | 4,152 | ¥ | 4,394 | ||||
Audit-Related Fees |
127 | 136 | ||||||
All Other Fees |
11 | 11 | ||||||
Total |
¥ | 4,290 | ¥ | 4,541 | ||||
Period |
(a) Total Number of Shares Purchased*1 |
(b) Average Price Paid per Share |
(c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs |
(d) Maximum Yen Amount of Shares that May Yet Be Purchased Under the Plans or Programs*2 |
||||||||||||
April 1 to April 30, 2021 |
250 | ¥ | 3,261 | — | — | |||||||||||
May 1 to May 31, 2021 |
115 | ¥ | 3,322 | — | — | |||||||||||
June 1 to June 30, 2021 |
364 | ¥ | 3,465 | — | — | |||||||||||
July 1 to July 31, 2021 |
232 | ¥ | 3,534 | — | — | |||||||||||
August 1 to August 31, 2021 |
229 | ¥ | 3,404 | — | — | |||||||||||
September 1 to September 30, 2021 |
5,000,078 | ¥ | 3,500 | 5,000,000 | 52,500,000,000 | |||||||||||
October 1 to October 31, 2021 |
5,250,133 | ¥ | 3,420 | 5,250,000 | 34,543,658,600 | |||||||||||
November 1 to November 30, 2021 |
5,000,232 | ¥ | 3,306 | 5,000,000 | 18,013,488,500 | |||||||||||
December 1 to December 31, 2021 |
2,750,350 | ¥ | 3,199 | 2,750,000 | 9,216,758,300 | |||||||||||
January 1 to January 31, 2022 |
94 | ¥ | 3,466 | — | 9,216,758,300 | |||||||||||
February 1 to February 28, 2022 |
98 | ¥ | 3,375 | — | 9,216,758,300 | |||||||||||
March 1 to March 31, 2022 |
285 | ¥ | 3,279 | — | 9,216,758,300 | |||||||||||
Total |
18,002,460 | ¥ | 3,377 | 18,000,000 | ||||||||||||
*1 |
For each month, the number of shares shown in column (a) in excess of the number of shares shown in column (c) represents the aggregate number of shares representing less than one unit that Honda purchased from the holders thereof upon their request. For an explanation of the right of such holders, see “Japanese Unit Share System” and “Right of a Holder of Shares Representing Less Than One Voting Unit to Require Honda to Purchase or Sell Its Shares” under Item 10.B of this Annual Report. Total number of shares purchased does not include purchases of BIP trust. |
*2 |
During the year ended March 31, 2022, the following share repurchase program was in effect: Share repurchase was resolved at the meeting of the Board of Directors pursuant to the articles of incorporation Date of announcement: August 4, 2021 Maximum number of shares authorized to be repurchased: 18,000,000 Maximum yen amount authorized to be used for repurchase: ¥70,000,000,000 Repurchase period: from August 5, 2021 to December 31, 2021 (This program expired on the last day of the repurchase period referred to above.) |
Corporate Governance Practices Followed by NYSE-listed U.S. Companies |
Corporate Governance Practices Followed by Honda | |
A NYSE-listed U.S. company must have a majority of directors meeting the independence requirements under Section 303A of the NYSE Listed Company Manual. | Honda has adopted a “company with three committees” corporate governance system (the “Three Committees system”) under Japan’s Company Law. | |
For Japanese companies which employ the Three Committees system, including Honda, Japan’s Company Law requires that such companies have a board of directors and one or more executive officers, and within the board of directors, a nominating committee (the “Nominating Committee”), an audit committee (the “Audit Committee”), and a compensation committee (the “Compensation Committee”) shall be established. Each of these committees shall consist of three or more directors, a majority of which shall be “outside directors” as defined below. Honda’s Articles of Incorporation provides for its Board of Directors consisting of no more than 15 members. Honda currently has eleven Directors (including five Outside Directors) and five Executive Officers. The Nominating Committee has four members, of which three are Outside Directors. The Audit Committee has five members, of which three are Outside Directors. The Compensation Committee has four members, of which three are Outside Directors. Under Japan’s Company Law, the members of three committees are elected by the resolutions of the board of directors. In addition, Honda’s regulations of each of the three committees provide that the chairperson of each committee shall be elected from the Outside Directors who are members of the relevant committee by the resolution of the Board of Directors. | ||
“Outside director” is defined as a director who meets all of the following independence requirements: the relevant person must be (1) a person who is not an executive director, executive officer, manager or any other employee of the company or any of its subsidiaries and has not been in such position for ten years prior to the assumption of office; (2) if the relevant person assumed an office of a non-executive director, accounting councilor or corporate auditor of the company or any of its subsidiaries during the ten years mentioned in (1) above, a person who had not been an executive director, executive officer, manager or any other employee of the company or any of its |
Corporate Governance Practices Followed by NYSE-listed U.S. Companies |
Corporate Governance Practices Followed by Honda | |
subsidiaries for further ten years prior to the assumption of such office; (3) a person who is not a director, corporate auditor, executive officer, manager or any other employee of the parent company or who is not a natural person controlling the company; (4) a person who is not an executive director, executive officer, manager or any other employee of a company which is controlled by the parent company or by the natural person controlling the company; and (5) a person who is not a spouse or one of a certain kinds of relatives of (a) a director, executive officer, manager or any other important employee of the company or (b) the natural person controlling the company. Companies which employ the Three Committees system, including Honda shall have at least two “outside directors”. | ||
In addition, the listing rules of the Tokyo Stock Exchange, which Honda is subject to (but reference to “corporate auditor” below is not applicable to Honda), require listed companies to have at least one “independent” director or corporate auditor, and to make efforts to have at least one “independent” director. Requirements for an independent director/corporate auditor are more stringent than those for outside directors or outside corporate auditors. Unlike an outside director/corporate auditor, an independent director/corporate auditor may not be (a) a person who is, or has been until recently, a major business counterparty or an executive director, executive officer, manager or employee of the major business counterparties, (b) a person who is, or has been until recently, a professional advisor receiving significant remuneration from the company, (c) a person who has been, for ten years prior to the assumption of office, a director, executive officer, manager or employee, or corporate auditor of the parent company or an executive director or executive officer, manager or employee of the parent company’s subsidiaries, or (d) a relative of persons mentioned in (a), (b) and (c) or a relative of certain scope of persons such as directors of the parent company or any of its subsidiaries. Currently, Honda has five Outside Directors all of whom are also independent Directors. Furthermore, Honda has established additional independence requirements for the Outside Directors, the “Criteria for Independence of Outside Directors” as described in Exhibit 1.4 by the resolution of the Board of Directors, and all of the Outside Directors meet the criteria. |
Corporate Governance Practices Followed by NYSE-listed U.S. Companies |
Corporate Governance Practices Followed by Honda | |
A NYSE-listed U.S. company must have an audit committee composed entirely of independent directors meeting the independence requirements under Section 303A.02 of the NYSE Listed Company Manual, and the audit committee must have at least three members. | Honda has an Audit Committee, as one of the Three Committees within its Board of Directors. Honda is required to satisfy the requirements set forth Rule 10A-3 under the U.S. Securities Exchange Act of 1934 relating to listed company audit committees. However, as a foreign private issuer, Honda is not subject to the independence requirements applicable to U.S. issuers pursuant to Section 303A.02 of the NYSE Listed Company manual. Additionally, as a foreign private issuer, Honda is not subject to the additional requirements under the Section 303A .07 of the NYSE Listed Company manual, including that the audit committee be made up of at least three members. | |
Under Japan’s Company Law, the audit committee has the following responsibilities: (i) auditing the execution of duties by directors and executive officers, and preparing audit reports and (ii) determining the content of proposals regarding the election and dismissal of accounting auditors and the refusal to reelect accounting auditors to be submitted to a general meeting of shareholders. The Audit Committee shall consist of at least three directors and a majority shall be outside directors. Each director, including an Audit Committee member, has a one-year term. Honda’s regulations of the Audit Committee provide that full-time member of the Audit Committee shall be established by the resolution of the Board of Directors. | ||
A NYSE-listed U.S. company must have a nominating/corporate governance committee entirely of independent directors. | Honda’s Directors are elected at a general meeting of shareholders. Its Board of Directors does not have the power to fill vacancies thereon. A proposal to elect a Director must be determined by the Nominating Committee and Honda’s Board of Directors itself does not have the power to determine a proposal to elect a Director. Under Japan’s Company Law, the Nominating Committee is responsible for determining the content of proposals regarding the election and dismissal of directors to be submitted to a general meeting of shareholders. The Nominating Committee shall consist of at least three directors and a majority shall be outside directors. Each director, including a Nominating Committee member, has a one-year term. |
Corporate Governance Practices Followed by NYSE-listed U.S. Companies |
Corporate Governance Practices Followed by Honda | |
A NYSE-listed U.S. company must have a compensation committee composed entirely of independent directors. Compensation committee members must satisfy the additional independence requirements under Section 303A.02(a)(ii) of the NYSE Listed Company Manual. A compensation committee must also have authority to retain or obtain the advice of compensation and other advisers, subject to prescribed independence criteria that the committee must consider prior to engaging any such adviser. | The compensation of Honda’s Directors and Executive Officers is determined by the Compensation Committee within the Board of Directors, and a General Meeting of Shareholders of the Company does not have the power to determine the compensation of Directors. Under Japan’s Company Law, the Compensation Committee shall establish the compensation policy as well as determine the compensation for directors and executive officers. The Compensation Committee shall consist of at least three directors and a majority shall be outside directors. Each director, including a Compensation Committee member, has a one-year term. | |
A NYSE-listed U.S. company must generally obtain shareholder approval with respect to any equity compensation plan. | Honda has a stock compensation scheme (the “Scheme”) for Executive Officers, Operating Officers and a part of Operating Executives of the Company who are residents of Japan (collectively, “Executive Officers Etc.”). Under the Scheme, which uses a Board Incentive Plan trust (the “BIP Trust”), Honda’s shares and money will be delivered and paid to Executive Officers Etc. in accordance with their positions and the degree of growth in management indicators of Honda such as performance and corporate value. The period of the BIP Trust shall be from September 2021 to August 2024 (scheduled), provided, however, that this period may be extended by resolutions of the Compensation Committee and the Board of Directors for another three years by amending the trust agreement and entrusting additional amounts to the BIP Trust within the scope of the approval at the Ordinary General Meeting of Shareholders. |
1.1 | Articles of Incorporation of the registrant (English translation) *1 | |
1.2 | Share Handling Regulations of the registrant (English translation) *2 | |
1.3 | Regulations of the Board of Directors of the registrant (English translation) | |
1.4 | Honda Motor Co., Ltd. Criteria for Independence of Outside Directors (English translation) *3 | |
2.1 | Specimen common stock certificates of the registrant (English translation) *4 | |
2.2 | Form of Second Amended and Restated Deposit Agreement dated as of March, 2022, among the registrant, JPMorgan Chase Bank, N.A., as Depositary, and holders and beneficial owners of American Depositary Receipts *5 | |
2.3 | Description of rights of each class of securities registered under Section 12 of the Securities Exchange Act of 1934 | |
8.1 | List of Significant Subsidiaries (See “Organizational Structure” in Item 4.C of this Form 20-F) | |
11.1 | Code of Ethics *6 | |
12.1 | Certification of the principal executive officer required by 17 C.F.R. 240. 13a-14(a) | |
12.2 | Certification of the principal financial officer required by 17 C.F.R. 240. 13a-14(a) | |
13.1 | Certification of the chief executive officer required by 18 U.S.C. Section 1350 | |
13.2 | Certification of the chief financial officer required by 18 U.S.C. Section 1350 | |
15.1 | Consent of Independent Registered Public Accounting Firm | |
101.INS | Inline XBRL Instance Document—the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document | |
101.SCH | Inline XBRL Taxonomy Extension Schema | |
101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase | |
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase | |
101.LAB | Inline XBRL Taxonomy Extension Label Linkbase | |
101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase | |
104 | The cover page for the Company’s Annual Report on Form 20-F for the year ended March 31, 2022, has been formatted in Inline XBRL |
*1 | Incorporated by reference to the registrant’s Annual Report on Form 20-F filed on June 23, 2021. |
*2 | Incorporated by reference to the registrant’s Annual Report on Form 20-F filed on June 23, 2021. |
*3 | Incorporated by reference to the registrant’s Annual Report on Form 20-F filed on June 23, 2021. |
*4 | Incorporated by reference to the registrant’s Annual Report on Form 20-F filed on September 27, 2001. (P) |
*5 | Incorporated by reference to the registration statement for American Depositary Shares on Form F-6 (File No. 333-263937) filed by JPMorgan Chase Bank, N.A. as depositary, on March 29, 2022. |
*6 | Incorporated by reference to the registrant’s Annual Report on Form 20-F filed on July 9, 2004. |
F-3 |
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F-8 |
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F-9 |
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F-10 |
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F-11 |
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F-12 |
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F-13 |
• | the consistency of the Company’s assumptions with recent historical trends of warranty costs, taking into account changes in conditions and events affecting the Company, |
• | input data used to develop those assumptions by testing the consistency of the data with underlying documents and historical claims data, and |
• | facts and circumstances related to specific warranty programs identified after year end but before the consolidated financial statements were issued, and the impact, if any, of such facts and circumstances on the expected number of units to be affected and the average repair cost per unit underlying the provision for specific warranty programs at year end. |
• |
continued use and appropriateness of the ECL methodology and models, including the determination of significant increases in credit risk since initial recognition and the selection of the forward-looking economic conditions and the probability weightings, |
• |
analysis of model results as compared to actual loss performance, and |
• |
re-evaluation of the model used to estimate expected credit losses. |
• |
evaluating the Company’s ECL methodology for compliance with International Financial Reporting Standards as issued by the International Accounting Standards Board, |
• |
assessing the conceptual soundness and performance testing of the models by inspecting model documentation to determine whether the models are consistent with the model methodology and are suitable for their intended use, |
• |
evaluating the Company’s method to measure significant increases in credit risk since initial recognition by performing a sensitivity analysis over the significant increase in credit risk threshold, |
• |
assessing the selection of the forward-looking economic conditions and the probability weightings by comparing them to the Company’s business environment and relevant industry practices, and |
• |
evaluating model back-testing results to verify model output is consistent with actual loss performance. |
• |
cumulative results of the audit procedures, |
• |
qualitative aspects of the Company’s accounting practices, and |
• |
potential bias in the accounting estimates. |
• | development of the residual value methodology, including the identification and determination of the expected market values of leased vehicles at the end of the lease term assumption, |
• | continued use and appropriateness of the model used to estimate the percentage of leased vehicles expected to be returned, |
• | evaluation of the percentage of lease vehicles expected to be returned by the lessees as compared to actual vehicles returned, and |
• | analysis of the actual gain or loss recorded on the disposition of lease vehicles. |
• | evaluating the Company’s residual value methodology for compliance with International Financial Reporting Standards as issued by the International Accounting Standards Board, |
• | assessing the conceptual soundness and performance testing of the model by inspecting model documentation to determine whether the model is consistent with the model methodology and is suitable for their intended use, and |
• | evaluating the Company’s expected market values of leased vehicles at the end of the lease term assumption by comparing it to specific portfolio risk characteristics and trends. |
• | cumulative results of the audit procedures, |
• | qualitative aspects of the Company’s accounting practices, and |
• | potential bias in the accounting estimates. |
Yen (millions) |
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Note |
2021 |
2022 |
||||||||||
Assets |
||||||||||||
Current assets: |
||||||||||||
Cash and cash equivalents |
5 | ¥ | ¥ | |
||||||||
Trade receivables |
6 | |||||||||||
Receivables from financial services |
7 | |||||||||||
Other financial assets |
8 | |||||||||||
Inventories |
9 | |||||||||||
Other current assets |
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Total current assets |
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Non-current assets: |
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Investments accounted for using the equity method |
10 | |||||||||||
Receivables from financial services |
7 | |||||||||||
Other financial assets |
8 | |||||||||||
Equipment on operating leases |
11 | |||||||||||
Property, plant and equipment |
12 | |||||||||||
Intangible assets |
13 | |||||||||||
Deferred tax assets |
23 | |||||||||||
Other non-current assets |
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|
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Total non-current assets |
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Total assets |
¥ | ¥ | ||||||||||
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Liabilities and Equity |
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Current liabilities: |
||||||||||||
Trade payables |
14 | ¥ | ¥ | |||||||||
Financing liabilities |
15 | |||||||||||
Accrued expenses |
||||||||||||
Other financial liabilities |
16 | |||||||||||
Income taxes payable |
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Provisions |
17 | |||||||||||
Other current liabilities |
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Total current liabilities |
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Non-current liabilities: |
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Financing liabilities |
15 | |||||||||||
Other financial liabilities |
16 | |||||||||||
Retirement benefit liabilities |
18 | |||||||||||
Provisions |
17 | |||||||||||
Deferred tax liabilities |
23 | |||||||||||
Other non-current liabilities |
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Total non-current liabilities |
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Total liabilities |
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Equity: |
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Common stock |
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Capital surplus |
||||||||||||
Treasury stock |
( |
) | ( |
) | ||||||||
Retained earnings |
||||||||||||
Other components of equity |
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|||||||||
Equity attributable to owners of the parent |
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Non-controlling interests |
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Total equity |
19 | |||||||||||
|
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|||||||||
Total liabilities and equity |
¥ | ¥ | ||||||||||
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|
Yen (millions) |
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Note |
2020 |
2021 |
2022 |
|||||||||||
Sales revenue |
20 | ¥ | ¥ | ¥ | |
|||||||||
Operating costs and expenses: |
||||||||||||||
Cost of sales |
( |
) | ( |
) | ( |
) | ||||||||
Selling, general and administrative |
( |
) | ( |
) | ( |
) | ||||||||
Research and development |
21 | ( |
) | ( |
) | ( |
) | |||||||
|
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|
|||||||||
Total operating costs and expenses |
( |
) | ( |
) | ( |
) | ||||||||
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Operating profit |
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|
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Share of profit of investments accounted for using the equity method |
10 | |||||||||||||
Finance income and finance costs: |
||||||||||||||
Interest income |
22 | |||||||||||||
Interest expense |
22 | ( |
) | ( |
) | ( |
) | |||||||
Other, net |
22 | ( |
) | ( |
) | ( |
) | |||||||
|
|
|
|
|
|
|||||||||
Total finance income and finance costs |
( |
) | ( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||||
Profit before income taxes |
||||||||||||||
Income tax expense |
23 | ( |
) | ( |
) | ( |
) | |||||||
|
|
|
|
|
|
|||||||||
Profit for the year |
¥ | ¥ | ¥ | |||||||||||
|
|
|
|
|
|
|||||||||
Profit for the year attributable to: |
||||||||||||||
Owners of the parent |
||||||||||||||
Non-controlling interests |
||||||||||||||
Yen |
||||||||||||||
2020 |
2021 |
2022 |
||||||||||||
Earnings per share attributable to owners of the parent Basic and diluted |
24 | ¥ | ¥ | ¥ |
Yen (millions) |
||||||||||||||
Note |
2020 |
2021 |
2022 |
|||||||||||
Profit for the year |
¥ |
¥ |
¥ |
|||||||||||
Other comprehensive income, net of tax: |
||||||||||||||
Items that will not be reclassified to profit or loss |
||||||||||||||
Remeasurements of defined benefit plans |
( |
) | ||||||||||||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income |
( |
) | ||||||||||||
Share of other comprehensive income of investments accounted for using the equity method |
10 | ( |
) | |||||||||||
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 |
( |
) | ( |
) | ||||||||||
Exchange differences on translating foreign operations |
( |
) | ||||||||||||
Share of other comprehensive income of investments accounted for using the equity method |
10 | ( |
) | |||||||||||
|
|
|
|
|
|
|||||||||
Total other comprehensive income, net of tax |
19 | ( |
) | |||||||||||
|
|
|
|
|
|
|||||||||
Comprehensive income for the year |
¥ | ¥ | ¥ | |||||||||||
|
|
|
|
|
|
|||||||||
Comprehensive income for the year attributable to: |
||||||||||||||
Owners of the parent |
||||||||||||||
Non-controlling interests |
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, 2019 |
¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||||||||||
|
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Comprehensive income for the year |
||||||||||||||||||||||||||||||||||||
Profit for the year |
||||||||||||||||||||||||||||||||||||
Other comprehensive income, net of tax |
19 | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
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|
|||||||||||||||||||||
Total comprehensive income for the year |
( |
) | ||||||||||||||||||||||||||||||||||
Reclassification to retained earnings |
19 | ( |
) | |||||||||||||||||||||||||||||||||
Transactions with owners and other |
||||||||||||||||||||||||||||||||||||
Dividends paid |
19 | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||||||||||||||||||
Purchases of treasury stock |
( |
) | ( |
) | ( |
) | ||||||||||||||||||||||||||||||
Disposal of treasury stock |
||||||||||||||||||||||||||||||||||||
Share-based payment transactions |
||||||||||||||||||||||||||||||||||||
Equity transactions and others |
( |
) | ( |
) | ||||||||||||||||||||||||||||||||
|
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|
|
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|
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|
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|
|
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|
|||||||||||||||||||||
Total transactions with owners and other |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||||||||||||
|
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|
|
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|||||||||||||||||||||
Other changes |
||||||||||||||||||||||||||||||||||||
|
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|
|
|
|||||||||||||||||||||
Balance as of March 31, 2020 |
¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | ( |
) | ¥ | ¥ | ¥ | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Comprehensive income for the year |
||||||||||||||||||||||||||||||||||||
Profit for the year |
||||||||||||||||||||||||||||||||||||
Other comprehensive income, net of tax |
19 | |||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Total comprehensive income for the year |
||||||||||||||||||||||||||||||||||||
Reclassification to retained earnings |
19 | ( |
) | |||||||||||||||||||||||||||||||||
Transactions with owners and other |
||||||||||||||||||||||||||||||||||||
Dividends paid |
19 | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||||||||||||||||||
Purchases of treasury stock |
( |
) | ( |
) | ( |
) | ||||||||||||||||||||||||||||||
Disposal of treasury stock |
||||||||||||||||||||||||||||||||||||
Share-based payment transactions |
||||||||||||||||||||||||||||||||||||
Equity transactions and others |
||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Total transactions with owners and other |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Balance as of March 31, 2021 |
¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Comprehensive income for the year |
||||||||||||||||||||||||||||||||||||
Profit for the year |
||||||||||||||||||||||||||||||||||||
Other comprehensive income, net of tax |
19 | |||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Total comprehensive income for the year |
||||||||||||||||||||||||||||||||||||
Reclassification to retained earnings |
19 | ( |
) | |||||||||||||||||||||||||||||||||
Transactions with owners and other |
||||||||||||||||||||||||||||||||||||
Dividends paid |
19 | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||||||||||||||||||
Purchases of treasury stock |
( |
) | ( |
) | ( |
) | ||||||||||||||||||||||||||||||
Disposal of treasury stock |
||||||||||||||||||||||||||||||||||||
Share-based payment transactions |
( |
) |
( |
) |
( |
) | ||||||||||||||||||||||||||||||
Equity transactions and others |
( |
) | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Total transactions with owners and other |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Balance as of March 31, 2022 |
¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
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|
|
|
|
|
Yen (millions) |
||||||||||||||
Note |
2020 |
2021 |
2022 |
|||||||||||
Cash flows from operating activities: |
||||||||||||||
Profit before income taxes |
¥ | ¥ | ¥ | |
||||||||||
Depreciation, amortization and impairment losses excluding equipment on operating leases |
||||||||||||||
Share of profit of investments accounted for using the equity method |
( |
) | ( |
) | ( |
) | ||||||||
Finance income and finance costs, net |
( |
) | ( |
) | ||||||||||
Interest income and interest costs from financial services, net |
( |
) | ( |
) | ( |
) | ||||||||
Changes in assets and liabilities |
||||||||||||||
Trade receivables |
( |
) | ( |
) | ||||||||||
Inventories |
( |
) | ( |
) | ||||||||||
Trade payables |
( |
) | ||||||||||||
Accrued expenses |
( |
) | ( |
) | ( |
) | ||||||||
Provisions and retirement benefit liabilities |
( |
) | ||||||||||||
Receivables from financial services |
( |
) | ||||||||||||
Equipment on operating leases |
( |
) | ( |
) | ||||||||||
Other assets and liabilities |
( |
) | ( |
) | ||||||||||
Other, net |
( |
) | ||||||||||||
Dividends received |
||||||||||||||
Interest received |
||||||||||||||
Interest paid |
( |
) | ( |
) | ( |
) | ||||||||
Income taxes paid, net of refund |
( |
) | ( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||||
Net cash provided by operating activities |
||||||||||||||
Cash flows from investing activities: |
||||||||||||||
Payments for additions to property, plant and equipment |
( |
) | ( |
) | ( |
) | ||||||||
Payments for additions to and internally developed intangible assets |
( |
) | ( |
) | ( |
) | ||||||||
Proceeds from sales of property, plant and equipment and intangible assets |
||||||||||||||
Payments for acquisitions of subsidiaries, net of cash and cash equivalents acquired |
( |
) | — | |||||||||||
Payments for acquisitions of investments accounted for using the equity method |
( |
) | ( |
) | — | |||||||||
Proceeds from sales of investments accounted for using the equity method |
— | — | ||||||||||||
Payments for acquisitions of other financial assets |
( |
) | ( |
) | ( |
) | ||||||||
Proceeds from sales and redemptions of other financial assets |
||||||||||||||
Other, net |
( |
) | — | — | ||||||||||
|
|
|
|
|
|
|||||||||
Net cash used in investing activities |
( |
) | ( |
) | ( |
) | ||||||||
Cash flows from financing activities: |
||||||||||||||
Proceeds from short-term financing liabilities |
||||||||||||||
Repayments of short-term financing liabilities |
( |
) | ( |
) | ( |
) | ||||||||
Proceeds from long-term financing liabilities |
||||||||||||||
Repayments of long-term financing liabilities |
( |
) | ( |
) | ( |
) | ||||||||
Dividends paid to owners of the parent |
( |
) | ( |
) | ( |
) | ||||||||
Dividends paid to non-controlling interests |
( |
) | ( |
) | ( |
) | ||||||||
Purchases and sales of treasury stock, net |
( |
) | ( |
) | ||||||||||
Repayments of lease liabilities |
( |
) | ( |
) | ( |
) | ||||||||
Other, net |
( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|||||||||
Net cash provided by (used in) financing activities |
( |
) | ( |
) | ( |
) | ||||||||
Effect of exchange rate changes on cash and cash equivalents |
( |
) | ||||||||||||
|
|
|
|
|
|
|||||||||
Net change in cash and cash equivalents |
||||||||||||||
Cash and cash equivalents at beginning of year |
||||||||||||||
|
|
|
|
|
|
|||||||||
Cash and cash equivalents at end of year |
5 | ¥ | ¥ | ¥ | ||||||||||
|
|
|
|
|
|
• |
Scope of subsidiaries, affiliates and joint ventures (notes 3(a) and 3(b)) |
• |
Recognition of intangible assets arising from development (note 3(h)) |
• |
Accounting for contracts including lease (note 3(i)) |
• |
Valuation of financial assets measured at amortized cost and debt securities classified into financial assets measured at fair value through other comprehensive income (notes 6, 7 and 8) |
• |
Fair value of financial instruments (note 26) |
• |
Net realizable value of inventories (note 9) |
• |
Recoverable amount of non-financial assets (notes 11, 12 and 13) |
• |
Measurement of provisions (note 17) |
• |
Measurement of net defined benefit liabilities (assets) (note 18) |
• |
Recoverability of deferred tax assets (note 23) |
• |
Likelihood and magnitude of outflows of resources embodying economic benefits required to settle contingent liabilities (note 28) |
• | Buildings and structures: |
• | Machinery and equipment: |
Stage 1 | 12-month ECL for financial assets without a significant increase in credit risk since initial recognition |
Stage 2 | Lifetime ECL for financial assets with a significant increase in credit risk since initial recognition but that are not credit-impaired |
Stage 3 | Lifetime ECL for credit-impaired financial assets |
Segment |
Principal products and services |
Functions | ||
Motorcycle Business |
Motorcycles, all-terrain vehicles (ATVs), side-by-sides |
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 | ||
Life Creation and Other Businesses |
Power products and relevant parts, and others |
Research and development Manufacturing Sales and related services Others |
Yen (millions) |
||||||||||||||||||||||||||||
Motorcycle Business |
Automobile Business |
Financial Services Business |
Life Creation and Other Businesses |
Segment Total |
Reconciling Items |
Consolidated |
||||||||||||||||||||||
Sales revenue: |
||||||||||||||||||||||||||||
External customers |
¥ |
¥ |
¥ |
¥ |
¥ |
¥ |
¥ |
|||||||||||||||||||||
Intersegment |
( |
) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total |
( |
) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Segment profit (loss) |
¥ | ¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | ¥ | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Share of profit of investments accounted for using the equity method |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||||||||
Segment assets |
||||||||||||||||||||||||||||
Investments accounted for using the equity method |
||||||||||||||||||||||||||||
Depreciation and amortization |
||||||||||||||||||||||||||||
Capital expenditures |
||||||||||||||||||||||||||||
Impairment losses on non-financial assets |
||||||||||||||||||||||||||||
Provision (reversal) for credit and lease residual losses on receivables from financial services |
Yen (millions) |
||||||||||||||||||||||||||||
Motorcycle Business |
Automobile Business |
Financial Services Business |
Life Creation and Other Businesses |
Segment Total |
Reconciling Items |
Consolidated |
||||||||||||||||||||||
Sales revenue: |
||||||||||||||||||||||||||||
External customers |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||||||||
Intersegment |
( |
) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total |
( |
) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Segment profit (loss) |
¥ | ¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | ¥ | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Share of profit of investments accounted for using the equity method |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||||||||
Segment assets |
|
|||||||||||||||||||||||||||
Investments accounted for using the equity method |
||||||||||||||||||||||||||||
Depreciation and amortization |
||||||||||||||||||||||||||||
Capital expenditures |
||||||||||||||||||||||||||||
Impairment losses on non-financial assets |
( |
) | ||||||||||||||||||||||||||
Provision (reversal) for credit and lease residual losses on receivables from financial services |
( |
) | ( |
) | ( |
) |
As of and for the year ended March 31, 2022 |
| |||||||||||||||||||||||||||
Yen (millions) |
||||||||||||||||||||||||||||
Motorcycle Business |
Automobile Business |
Financial Services Business |
Life Creation and Other Businesses |
Segment Total |
Reconciling Items |
Consolidated |
||||||||||||||||||||||
Sales revenue: |
||||||||||||||||||||||||||||
External customers |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||||||||
Intersegment |
( |
) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total |
( |
) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Segment profit (loss) |
¥ | ¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | ¥ | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Share of profit of investments accounted for using the equity method |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||||||||
Segment assets |
||||||||||||||||||||||||||||
Investments accounted for using the equity method |
||||||||||||||||||||||||||||
Depreciation and amortization |
||||||||||||||||||||||||||||
Capital expenditures |
||||||||||||||||||||||||||||
Impairment losses on non-financial assets |
( |
) | ||||||||||||||||||||||||||
Provision (reversal) for credit and lease residual losses on receivables from financial services |
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 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 March 31, 2020, 2021 and 2022 amounted to ¥ |
5. | Provisions for product warranties accrued for the years ended March 31, 2020, 2021 and 2022 are ¥ |
6. | The amounts of write-down of inventories recognized as an expense for the years ended March 31, 2020, 2021 and 2022 are ¥ |
7 . |
Right-of-use |
Yen (millions) |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Motorcycles and relevant parts |
¥ | ¥ | ¥ | |||||||||
All-terrain vehicles (ATVs), side-by-sides |
||||||||||||
Automobiles and relevant parts |
||||||||||||
Financial services |
||||||||||||
Power products and relevant parts |
||||||||||||
Others |
||||||||||||
Total |
¥ | ¥ | ¥ | |||||||||
Yen (millions) |
||||||||||||||||
Japan |
United States |
Other Countries |
Total |
|||||||||||||
Sales revenue |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets |
¥ | ¥ | ¥ | ¥ |
Yen (millions) |
||||||||||||||||
Japan |
United States |
Other Countries |
Total |
|||||||||||||
Sales revenue |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets |
¥ | ¥ | ¥ | ¥ |
Yen (millions) |
||||||||||||||||
Japan |
United States |
Other Countries |
Total |
|||||||||||||
Sales revenue |
¥ | ¥ | |
¥ | |
¥ | |
|||||||||
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets |
¥ | ¥ | ¥ | ¥ |
Yen (millions) |
||||||||||||||||||||||||||||||||
Japan |
North America |
Europe |
Asia |
Other Regions |
Total |
Reconciling Items |
Consolidated |
|||||||||||||||||||||||||
Sales revenue: |
||||||||||||||||||||||||||||||||
External customers |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||||||||
Inter-geographic areas |
( |
) | ||||||||||||||||||||||||||||||
Total |
( |
) | ||||||||||||||||||||||||||||||
Operating profit (loss) |
¥ | ( |
) | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ( |
) | ¥ | ||||||||||||||||||||
Assets |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||||||||
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ |
Yen (millions) |
||||||||||||||||||||||||||||||||
Japan |
North America |
Europe |
Asia |
Other Regions |
Total |
Reconciling Items |
Consolidated |
|||||||||||||||||||||||||
Sales revenue: |
||||||||||||||||||||||||||||||||
External customers |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||||||||
Inter-geographic areas |
( |
) | ||||||||||||||||||||||||||||||
Total |
( |
) | ||||||||||||||||||||||||||||||
Operating profit (loss) |
¥ | ( |
) | ¥ | ¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | ¥ | ||||||||||||||||||||
Assets |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ( |
) | ¥ | ||||||||||||||||||||||
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ |
Yen (millions) |
||||||||||||||||||||||||||||||||
Japan |
North America |
Europe |
Asia |
Other Regions |
Total |
Reconciling Items |
Consolidated |
|||||||||||||||||||||||||
Sales revenue: |
||||||||||||||||||||||||||||||||
External customers |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||||||||
Inter-geographic areas |
( |
) | ||||||||||||||||||||||||||||||
Total |
( |
) | ||||||||||||||||||||||||||||||
Operating profit (loss) |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ( |
) | ¥ | ||||||||||||||||||||||
Assets |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||||||||
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ¥ |
1. | Major countries in each geographic area: |
North America | United States, Canada, Mexico | |||
Europe | United Kingdom, Germany, Belgium, Italy, France | |||
Asia | Thailand, China, India, Vietnam , Malaysia | |||
Other Regions | Brazil, Australia |
2. | Operating profit (loss) of each geographical region is measured in a consistent manner with consolidated operating profit, which is profit before income taxes before share of profit of investments accounted for using the equity method and finance income and finance costs. |
3. | Assets of each geographical region are defined as total assets including investments accounted for using the equity method, derivatives, and deferred tax assets. |
4. | Sales revenues between geographic areas are generally made at values that approximate arm’s-length prices. |
5. | Reconciling items include elimination of inter-geographic transactions and balances as well as unallocated corporate assets. Unallocated corporate assets, included in reconciling items as of March 31, 2020, 2021 and 2022 amounted to ¥ |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Cash and deposits |
¥ | ¥ | ||||||
Cash equivalents |
||||||||
Total |
¥ | ¥ | ||||||
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Trade accounts and notes receivable |
¥ | |
¥ | |||||
Other |
||||||||
Allowance for impairment losses |
( |
) | ( |
) | ||||
Total |
¥ | ¥ | ||||||
Yen (millions) |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Balance at beginning of year |
¥ | ¥ | ¥ | |||||||||
Remeasurement |
¥ | ¥ | ¥ | |||||||||
Write-offs |
( |
) | ( |
) | ( |
) | ||||||
Exchange differences on translating foreign operations |
( |
) | ||||||||||
Balance at end of year |
¥ | ¥ | ¥ | |||||||||
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Consumer finance receivables: |
||||||||
Retail |
¥ | ¥ | ||||||
Finance lease |
||||||||
Dealer finance receivables: |
||||||||
Wholesale |
||||||||
|
|
|
|
|||||
Subtotal |
¥ | ¥ | ||||||
|
|
|
|
|||||
Allowance for credit losses |
¥ | ( |
) | ¥ | ( |
) | ||
Unearned interest income and fees |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
|||||
Current assets |
¥ | ¥ | ||||||
Non-current assets |
||||||||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Within 1 year |
¥ | ¥ | ||||||
Between 1 and 2 years | ||||||||
Between 2 and 3 years | ||||||||
Between 3 and 4 years | ||||||||
Between 4 and 5 years | ||||||||
Later than 5 years | ||||||||
|
|
|
|
|||||
Undiscounted lease payments receivable |
¥ | ¥ | ||||||
|
|
|
|
|||||
Unearned finance income |
¥ | ( |
) | ¥ | ( |
) | ||
|
|
|
|
|||||
Unguaranteed residual value |
¥ | ¥ | ||||||
|
|
|
|
|||||
Net investment in the lease |
¥ | |
¥ | |||||
|
|
|
|
Yen (millions) |
||||||||||||||||
12-month ECL (Stage 1) |
Lifetime ECL |
Total |
||||||||||||||
Not credit-impaired (Stage 2) |
Credit-impaired (Stage 3) |
|||||||||||||||
Retail: |
||||||||||||||||
Balance as of April 1, 2019 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Remeasurement |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Write-offs |
— | — | ( |
) | ( |
) | ||||||||||
Exchange differences on translating foreign operations |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of March 31, 2020 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Remeasurement |
¥ | ( |
) | ¥ | ( |
) | ¥ | ¥ | ( |
) | ||||||
Write-offs |
( |
) | ( |
) | ||||||||||||
Exchange differences on translating foreign operations |
( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2021 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Remeasurement |
¥ | ( |
) | ¥ | ( |
) | ¥ | ¥ | ||||||||
Write-offs |
( |
) | ( |
) | ||||||||||||
Exchange differences on translating foreign operations |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2022 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Finance lease: |
||||||||||||||||
Balance as of April 1, 2019 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Remeasurement |
¥ | ( |
) | ¥ | ¥ | ¥ | ||||||||||
Write-offs |
— | — | ( |
) | ( |
) | ||||||||||
Exchange differences on translating foreign operations |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of March 31, 2020 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Remeasurement |
¥ | ( |
) | ¥ | ¥ | ¥ | ||||||||||
Write-offs |
( |
) | ( |
) | ||||||||||||
Exchange differences on translating foreign operations |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2021 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Remeasurement |
¥ | ( |
) | ¥ | ( |
) | ¥ | ¥ | ( |
) | ||||||
Write-offs |
( |
) | ( |
) | ||||||||||||
Exchange differences on translating foreign operations |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2022 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
Yen (millions) |
||||||||||||||||
12-month ECL (Stage 1) |
Lifetime ECL |
Total |
||||||||||||||
Not credit-impaired (Stage 2) |
Credit-impaired (Stage 3) |
|||||||||||||||
Wholesale: |
||||||||||||||||
Balance as of April 1, 2019 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Remeasurement |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Write-offs |
— | — | ( |
) | ( |
) | ||||||||||
Exchange differences on translating foreign operations |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of March 31, 2020 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Remeasurement |
¥ | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ||||||
Write-offs |
||||||||||||||||
Exchange differences on translating foreign operations |
( |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2021 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Remeasurement |
¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ||||
Write-offs |
||||||||||||||||
Exchange differences on translating foreign operations |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2022 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total: |
||||||||||||||||
Balance as of April 1, 2019 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Remeasurement |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Write-offs |
— | — | ( |
) | ( |
) | ||||||||||
Exchange differences on translating foreign operations |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of March 31, 2020 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Remeasurement |
¥ | ( |
) | ¥ | ( |
) | ¥ | ¥ | ( |
) | ||||||
Write-offs |
( |
) | ( |
) | ||||||||||||
Exchange differences on translating foreign operations |
( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2021 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Remeasurement |
¥ | ( |
) | ¥ | ( |
) | ¥ | ¥ | ||||||||
Write-offs |
( |
) | ( |
) | ||||||||||||
Exchange differences on translating foreign operations |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2022 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Financial assets measured at amortized cost: |
||||||||
Receivables other than trade receivables and receivables from financial services |
¥ | ¥ | ||||||
Debt securities |
||||||||
Guaranty deposits |
||||||||
Restricted cash |
||||||||
Other |
||||||||
Allowance for impairment losses |
( |
) | ( |
) | ||||
Financial assets measured at fair value through other comprehensive income: |
||||||||
Debt securities |
||||||||
Equity securities |
||||||||
Financial assets measured at fair value through profit or loss: |
||||||||
Derivatives |
||||||||
Debt securities |
||||||||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
|||||
Current assets |
¥ | ¥ | ||||||
Non-current assets |
||||||||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
Yen (millions) |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Balance at beginning of year |
¥ | ¥ | ¥ | |||||||||
|
|
|
|
|
|
|||||||
Remeasurement |
¥ | ¥ | ¥ | |||||||||
Write-offs |
( |
) | ( |
) | ( |
) | ||||||
Exchange differences on translating foreign operations |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Balance at end of year |
¥ | ¥ | ¥ | |||||||||
|
|
|
|
|
|
Yen (millions) |
||||
Fair value |
||||
Contemporary Amperex Technology Co., Ltd. |
¥ | |||
GM Cruise Holdings LLC |
||||
Stanley Electric Co., Ltd. |
||||
Mitsubishi UFJ Financial Group, Inc. |
||||
Daido Steel Co., Ltd. |
||||
Tokio Marine Holdings, Inc. |
Yen (millions) |
||||
Fair value |
||||
Contemporary Amperex Technology Co., Ltd. |
¥ | |||
GM Cruise Holdings LLC |
||||
Stanley Electric Co., Ltd. |
||||
Mitsubishi UFJ Financial Group, Inc. |
||||
SES AI Corporation |
||||
Tokio Marine Holdings, Inc. |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Finished goods |
¥ | ¥ | ||||||
Work in process |
||||||||
Raw materials |
||||||||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Investments accounted for using the equity method: |
||||||||
Affiliates |
¥ | ¥ | ||||||
Joint ventures |
||||||||
|
|
|
|
|||||
Total |
¥ | |
¥ | |||||
|
|
|
|
|
|
|
|
|
Honda’s equity of undistributed earnings: |
||||||||
Affiliates |
¥ | ¥ | ||||||
Joint ventures |
||||||||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
Yen (millions) |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Profit for the year: |
||||||||||||
Affiliates |
¥ | ( |
) | ¥ | ¥ | ( |
) | |||||
Joint ventures |
||||||||||||
|
|
|
|
|
|
|||||||
Total |
¥ | ¥ | ¥ | |||||||||
|
|
|
|
|
|
|||||||
Other comprehensive income: |
||||||||||||
Affiliates |
¥ | ( |
) | ¥ | ( |
) | ¥ | |||||
Joint ventures |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Total |
¥ | ( |
) | ¥ | ¥ | |||||||
|
|
|
|
|
|
|||||||
Comprehensive income for the year: |
||||||||||||
Affiliates |
¥ | ( |
) | ¥ | ¥ | |||||||
Joint ventures |
||||||||||||
|
|
|
|
|
|
|||||||
Total |
¥ | |
¥ | |
¥ | |||||||
|
|
|
|
|
|
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Current assets |
¥ | |
¥ | |||||
Non-current assets |
||||||||
Total assets |
||||||||
Current liabilities |
||||||||
Non-current liabilities |
||||||||
Total liabilities |
||||||||
Total equity |
¥ | ¥ | ||||||
Honda’s share of total equity (50%) |
||||||||
Equity method adjustments |
( |
) | ( |
) | ||||
Carrying amount of its interest in the joint venture |
¥ | ¥ | ||||||
Cash and cash equivalents included in current assets |
¥ | ¥ | ||||||
Financial liabilities (excluding trade payables and provisions) included in current liabilities |
Yen (millions) |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Sales revenue |
¥ | ¥ | ¥ | |||||||||
Interest income |
||||||||||||
Depreciation and amortization |
||||||||||||
Income tax expense |
||||||||||||
Profit for the year |
||||||||||||
Other comprehensive income |
( |
) | ||||||||||
Comprehensive income for the year |
¥ | ¥ | ¥ | |||||||||
Comprehensive income for the year (50%) |
||||||||||||
Equity method adjustments |
||||||||||||
Honda’s share of comprehensive income for the year |
¥ | ¥ | ¥ | |||||||||
Dividend from the joint venture to Honda |
¥ | ¥ | ¥ |
Yen (millions) |
||||||||||||||||
For the year ended March 31, 2020 |
Motorcycle Business |
Automobile Business |
Life Creation and Other Businesses |
Total |
||||||||||||
Sales revenue |
¥ | ¥ | ¥ | |
¥ | |||||||||||
Profit for the year |
Yen (millions) |
||||||||||||||||
As of and for the year ended March 31, 2021 |
Motorcycle Business |
Automobile Business |
Life Creation and Other Businesses |
Total |
||||||||||||
Current assets |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Non-current assets |
||||||||||||||||
Total assets |
||||||||||||||||
Current liabilities |
||||||||||||||||
Non-current liabilities |
||||||||||||||||
Total liabilities |
||||||||||||||||
Total equity |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Sales revenue |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Profit for the year |
||||||||||||||||
Yen (millions) |
||||||||||||||||
As of and for the year ended March 31, 2022 |
Motorcycle Business |
Automobile Business |
Life Creation and Other Businesses |
Total |
||||||||||||
Current assets |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Non-current assets |
||||||||||||||||
Total assets |
||||||||||||||||
Current liabilities |
||||||||||||||||
Non-current liabilities |
||||||||||||||||
Total liabilities |
||||||||||||||||
Total equity |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Sales revenue |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Profit for the year |
Yen (millions) |
||||||||||||||||
For the year ended March 31, 2020 |
Motorcycle Business |
Automobile Business |
Life Creation and Other Businesses |
Total |
||||||||||||
Sales revenue |
¥ | ¥ | ¥ | |
¥ | |||||||||||
Profit for the year |
Yen (millions) |
||||||||||||||||
As of and for the year ended March 31, 2021 |
Motorcycle Business |
Automobile Business |
Life Creation and Other Businesses |
Total |
||||||||||||
Current assets |
¥ | ¥ | ¥ | |
¥ | |||||||||||
Non-current assets |
||||||||||||||||
Total assets |
||||||||||||||||
Current liabilities |
||||||||||||||||
Non-current liabilities |
||||||||||||||||
Total liabilities |
||||||||||||||||
Total equity |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Sales revenue |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Profit for the year |
||||||||||||||||
Yen (millions) |
||||||||||||||||
As of and for the year ended March 31, 2022 |
Motorcycle Business |
Automobile Business |
Life Creation and Other Businesses |
Total |
||||||||||||
Current assets |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Non-current assets |
||||||||||||||||
Total assets |
||||||||||||||||
Current liabilities |
||||||||||||||||
Non-current liabilities |
||||||||||||||||
Total liabilities |
||||||||||||||||
Total equity |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Sales revenue |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Profit for the year |
Yen (millions) |
||||
Balance as of April 1, 2020 |
¥ | |||
|
|
|||
Additions |
¥ | |||
Sales or disposal |
( |
) | ||
Exchange differences on translating foreign operations |
||||
Other |
||||
|
|
|||
Balance as of March 31, 2021 |
¥ | |||
|
|
|||
Additions |
¥ | |||
Sales or disposal |
( |
) | ||
Exchange differences on translating foreign operations |
||||
Other |
||||
|
|
|||
Balance as of March 31, 2022 |
¥ | |||
|
|
Yen (millions) |
||||
Balance as of April 1, 2020 |
¥ | ( |
) | |
|
|
|||
Depreciation |
¥ | ( |
) | |
Sales or disposal |
||||
Exchange differences on translating foreign operations |
( |
) | ||
Other |
||||
|
|
|||
Balance as of March 31, 2021 |
¥ | ( |
) | |
|
|
|||
Depreciation |
¥ | ( |
) | |
Sales or disposal |
||||
Exchange differences on translating foreign operations |
( |
) | ||
Other |
( |
) | ||
|
|
|||
Balance as of March 31, 2022 |
¥ | ( |
) | |
|
|
Yen (millions) |
||||
Balance as of March 31, 2021 |
¥ | |||
Balance as of March 31, 2022 |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Within 1 year |
¥ | ¥ | ||||||
Between 1 and 2 years |
||||||||
Between 2 and 3 years |
||||||||
Between 3 and 4 years |
||||||||
Between 4 and 5 years |
||||||||
Later than 5 years |
||||||||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
Yen (millions) |
||||||||||||||||||||
Land |
Buildings and structures |
Machinery and equipment |
Construction in progress |
Total |
||||||||||||||||
Balance as of April 1, 2020 |
¥ | ¥ | |
¥ | ¥ | ¥ | |
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Additions |
||||||||||||||||||||
Reclassification |
( |
) | ||||||||||||||||||
Sales or disposal |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
Exchange differences on translating foreign operations |
||||||||||||||||||||
Other |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance as of March 31, 2021 |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Additions |
||||||||||||||||||||
Reclassification |
( |
) | ||||||||||||||||||
Sales or disposal |
( |
) | ( |
) | ( |
) | — | ( |
) | |||||||||||
Exchange differences on translating foreign operations |
||||||||||||||||||||
Other |
( |
) | ( |
) | ( |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance as of March 31, 2022 |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
Yen (millions) |
||||||||||||||||||||
Land |
Buildings and structures |
Machinery and equipment |
Construction in progress |
Total |
||||||||||||||||
Balance as of April 1, 2020 |
¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | |||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Depreciation |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
Sales or disposal |
|
|||||||||||||||||||
Exchange differences on translating foreign operations |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||
Other |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance as of March 31, 2021 |
¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | |||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Depreciation |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
Sales or disposal |
||||||||||||||||||||
Exchange differences on translating foreign operations |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||
Other |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance as of March 31, 2022 |
¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Carrying amount) |
||||||||||||||||||||
Yen (millions) |
||||||||||||||||||||
Land |
Buildings and structures |
Machinery and equipment |
Construction in progress |
Total |
||||||||||||||||
Balance as of March 31, 2021 |
¥ | ¥ | |
¥ | ¥ | ¥ | |
|||||||||||||
Balance as of March 31, 2022 |
Yen (millions) |
||||||||||||||||
Land |
Buildings and structures |
Machinery and equipment |
Total |
|||||||||||||
Balance as of April 1, 2020 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Additions |
||||||||||||||||
Depreciation |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Other |
( |
) | ( |
) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2021 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Additions |
||||||||||||||||
Depreciation |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Other |
( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2022 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
Yen (millions) |
||||||||||||||||
Capitalized development costs |
Software |
Other |
Total |
|||||||||||||
Balance as of April 1, 2020 |
¥ | ¥ | |
¥ | |
¥ | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Additions |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Internally developed |
||||||||||||||||
Sales or disposal |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Exchange differences on translating foreign operations |
||||||||||||||||
Other |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2021 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Additions |
¥ | ¥ |
¥ |
¥ |
||||||||||||
Internally developed |
||||||||||||||||
Sales or disposal |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Exchange differences on translating foreign operations |
||||||||||||||||
Other |
( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2022 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
Yen (millions) |
||||||||||||||||
Capitalized development costs |
Software |
Other |
Total |
|||||||||||||
Balance as of April 1, 2020 |
¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ||||
|
|
|
|
|
|
|
|
|||||||||
Amortization |
¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ||||
Sales or disposal |
||||||||||||||||
Exchange differences on translating foreign operations |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Other |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2021 |
¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ||||
|
|
|
|
|
|
|
|
|||||||||
Amortization |
¥ | ( |
) | ¥ |
( |
) | ¥ |
( |
) | ¥ |
( |
) | ||||
Sales or disposal |
||||||||||||||||
Exchange differences on translating foreign operations |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Other |
( |
) | ( |
) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2022 |
¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ||||
|
|
|
|
|
|
|
|
|
(Carrying amount) |
|
||||||||||||||||
Yen (millions) |
||||||||||||||||
Capitalized development costs |
Software |
Other |
Total |
|||||||||||||
Balance as of March 31, 2021 |
¥ | |
¥ | |
¥ | |
¥ | |
||||||||
Balance as of March 31, 2022 |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Trade accounts and notes payable |
¥ | ¥ | ||||||
Other |
||||||||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Current: |
||||||||
Commercial paper |
¥ | ¥ | |
|||||
Loans |
||||||||
Asset-backed securities |
||||||||
|
|
|
|
|||||
Subtotal |
¥ | ¥ | ||||||
|
|
|
|
|||||
Reclassification from non-current liabilities (Current portion) |
¥ | ¥ | ||||||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
2021 |
2022 |
|||||||
Weighted average interest rate |
% | % |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Non-current: |
||||||||
Loans |
¥ | ¥ | |
|||||
Medium-term notes |
||||||||
Corporate bonds |
||||||||
Asset-backed securities |
||||||||
|
|
|
|
|||||
Subtotal |
¥ | ¥ | ||||||
|
|
|
|
|||||
Reclassification to current liabilities (Current portion) |
¥ | ( |
) | ¥ | ( |
) | ||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
2021 |
2022 | |||
Loans |
Interest rate: Due: |
Interest rate: Due: | ||
Medium-term notes |
Interest rate: Due: |
Interest rate: Due: | ||
Corporate bonds |
Interest rate: Due: |
Interest rate: Due: | ||
Asset-backed securities |
Interest rate: Due: |
Interest rate: Due: |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Trade receivables |
¥ | ¥ | ||||||
Receivables from financial services |
||||||||
Equipment on operating leases |
||||||||
Property, plant and equipment |
||||||||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
Yen (millions) |
||||||||||||||||||||||||||||||||
Balance as of April 1, 2019 |
Cash flows from financing activities |
Cash flows from operating activities |
Non-cash changes |
Balance as of March 31, 2020 |
||||||||||||||||||||||||||||
Acquisitions |
Changes in foreign currency exchange rates |
Changes in fair value |
Other |
|||||||||||||||||||||||||||||
Short-term financing liabilities |
¥ | ¥ | ( |
) | ¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | ( |
) | ¥ | ||||||||||||||||||
Long-term financing liabilities |
( |
) | ( |
) | ||||||||||||||||||||||||||||
Lease liabilities *1 |
( |
) | ( |
) | ( |
) | ||||||||||||||||||||||||||
Derivative financial liabilities (assets) *2 |
( |
) | ( |
) | ( |
) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Total |
¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | ( |
) | ¥ | ¥ | ( |
) | ¥ | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Yen (millions) |
||||||||||||||||||||||||||||||||
Balance as of April 1, 2020 |
Cash flows from financing activities |
Cash flows from operating activities |
Non-cash changes |
Balance as of March 31, 2021 |
||||||||||||||||||||||||||||
Acquisitions |
Changes in foreign currency exchange rates |
Changes in fair value |
Other |
|||||||||||||||||||||||||||||
Short-term financing liabilities |
¥ | ¥ | ( |
) | ¥ | ¥ | ¥ | ¥ | ¥ | ( |
) | ¥ | ||||||||||||||||||||
Long-term financing liabilities |
||||||||||||||||||||||||||||||||
Lease liabilities |
( |
) | ( |
) | ||||||||||||||||||||||||||||
Derivative financial liabilities (assets) *2 |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Total |
¥ | ¥ | ( |
) | ¥ | ( |
) | ¥ | ¥ | |
¥ | ( |
) | ¥ | ( |
) | ¥ | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the year ended March 31, 2022 |
| |||||||||||||||||||||||||||||||
Yen (millions) |
||||||||||||||||||||||||||||||||
Balance as of April 1, 2021 |
Cash flows from financing activities |
Cash flows from operating activities |
Non-cash changes |
Balance as of March 31, 2022 |
||||||||||||||||||||||||||||
Acquisitions |
Changes in foreign currency exchange rates |
Changes in fair value |
Other |
|||||||||||||||||||||||||||||
Short-term financing liabilities |
¥ | |
¥ | ( |
) | ¥ | |
¥ | |
¥ | |
¥ | |
¥ | |
¥ | |
|||||||||||||||
Long-term financing liabilities |
||||||||||||||||||||||||||||||||
Lease liabilities |
( |
) | ( |
) | ||||||||||||||||||||||||||||
Derivative financial liabilities (assets) *2 |
( |
) | ( |
) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Total |
¥ | ¥ | ( |
) | ¥ | ( |
) | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*1 | Honda has adopted IFRS 16 with a date of initial application of April 1, 2019 and recognized additional lease liabilities of ¥ |
*2 | Derivative financial liabilities (assets) are held by the Company and its finance subsidiaries to hedge foreign currency risk for principals and interests payment of long-term financing liabilities. The cash flows related to repayments of principals are included in cash flows from financing activities, while the cash flows related to interest paid are included in cash flows from operating activities. |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Financial liabilities measured at amortized cost |
¥ | ¥ | ||||||
Financial liabilities measured at fair value through profit or loss: |
||||||||
Derivatives |
||||||||
Lease liabilities |
||||||||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
|||||
Current liabilities |
¥ | ¥ | ||||||
Non-current liabilities |
||||||||
|
|
|
|
|||||
Total |
¥ | ¥ | ||||||
|
|
|
|
Yen (millions) |
||||||||||||
Product warranties* |
Other |
Total |
||||||||||
Balance as of April 1, 2021 |
¥ | ¥ | ¥ | |||||||||
|
|
|
|
|
|
|||||||
Provision |
¥ | ¥ | ¥ | |||||||||
Write-offs |
( |
) | ( |
) | ( |
) | ||||||
Reversal |
( |
) | ( |
) | ( |
) | ||||||
Exchange differences on translating foreign operations |
||||||||||||
|
|
|
|
|
|
|||||||
Balance as of March 31, 2022 |
¥ | ¥ | ¥ | |||||||||
|
|
|
|
|
|
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Current liabilities |
¥ | ¥ | ||||||
Non-current liabilities |
||||||||
|
|
|
|
|||||
Total |
¥ | ¥ | |
|||||
|
|
|
|
* | 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. Honda recognizes general estimated warranty costs at the time products are sold to customers. Honda also recognizes specific estimated warranty program 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. These provisions are estimated based on historical warranty claim experience with consideration given to the expected level of future warranty costs as well as current information on repair costs. Provision for product warranties are utilized for expenditures based on the demand from customers and dealers. |
Yen (millions) |
||||||||||||||||
2021 |
2022 |
|||||||||||||||
Japanese plans |
Foreign plans |
Japanese plans |
Foreign plans |
|||||||||||||
Present value of defined benefit obligations: |
||||||||||||||||
Balance at beginning of year |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Current service cost |
||||||||||||||||
Past service cost |
||||||||||||||||
Interest cost |
||||||||||||||||
Plan participants’ contributions |
||||||||||||||||
Remeasurements: |
||||||||||||||||
Changes in demographic assumptions |
( |
) | ( |
) | ( |
) | ||||||||||
Changes in financial assumptions |
( |
) | ( |
) | ( |
) | ||||||||||
Other |
( |
) | ( |
) | ||||||||||||
Benefits paid |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Exchange differences on translating foreign operations |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance at end of year |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Fair value of plan assets: |
||||||||||||||||
Balance at beginning of year |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Interest income |
||||||||||||||||
Actual return on plan assets, excluding interest income |
||||||||||||||||
Employer contributions |
||||||||||||||||
Plan participants’ contributions |
||||||||||||||||
Benefits paid |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Exchange differences on translating foreign operations |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance at end of year |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Effects of asset ceiling |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net defined benefit liabilities (assets) |
¥ | ( |
) | ¥ | ¥ | ( |
) | ¥ | ||||||||
|
|
|
|
|
|
|
|
Yen (millions) |
||||||||||||||||||||||||
Japanese plans |
Foreign plans |
|||||||||||||||||||||||
Market price in active market |
Market price in active market |
|||||||||||||||||||||||
Quoted |
Unquoted |
Total |
Quoted |
Unquoted |
Total |
|||||||||||||||||||
Cash and cash equivalents |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||
Equity securities: |
||||||||||||||||||||||||
Japan |
||||||||||||||||||||||||
United States |
||||||||||||||||||||||||
Other |
||||||||||||||||||||||||
Debt securities: |
||||||||||||||||||||||||
Japan |
||||||||||||||||||||||||
United States |
||||||||||||||||||||||||
Other |
||||||||||||||||||||||||
Group annuity insurance: |
||||||||||||||||||||||||
General accounts |
||||||||||||||||||||||||
Separate accounts |
||||||||||||||||||||||||
Pooled funds: |
||||||||||||||||||||||||
Real estate funds |
||||||||||||||||||||||||
Private equity funds |
||||||||||||||||||||||||
Hedge funds |
||||||||||||||||||||||||
Commingled and other mutual funds |
||||||||||||||||||||||||
Other |
( |
) | ( |
) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Yen (millions) |
||||||||||||||||||||||||
Japanese plans |
Foreign plans |
|||||||||||||||||||||||
Market price in active market |
Market price in active market |
|||||||||||||||||||||||
Quoted |
Unquoted |
Total |
Quoted |
Unquoted |
Total |
|||||||||||||||||||
Cash and cash equivalents |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||
Equity securities: |
||||||||||||||||||||||||
Japan |
||||||||||||||||||||||||
United States |
||||||||||||||||||||||||
Other |
||||||||||||||||||||||||
Debt securities: |
||||||||||||||||||||||||
Japan |
||||||||||||||||||||||||
United States |
||||||||||||||||||||||||
Other |
||||||||||||||||||||||||
Group annuity insurance: |
||||||||||||||||||||||||
General accounts |
||||||||||||||||||||||||
Separate accounts |
||||||||||||||||||||||||
Pooled funds: |
||||||||||||||||||||||||
Real estate funds |
||||||||||||||||||||||||
Private equity funds |
||||||||||||||||||||||||
Hedge funds |
||||||||||||||||||||||||
Commingled and other mutual funds |
||||||||||||||||||||||||
Other |
( |
) | ( |
) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
2021 |
2022 |
|||||||||||||||
Japanese plans |
Foreign plans |
Japanese plans |
Foreign plans |
|||||||||||||
Discount rate |
% | % | % | % | ||||||||||||
Rate of salary increase |
% | % | % | % |
Yen (millions) |
||||||||||||||||
2021 |
2022 |
|||||||||||||||
Japanese plans |
Foreign plans |
Japanese plans |
Foreign plans |
|||||||||||||
|
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
¥ | ¥ | ¥ | ¥ |
2021 |
2022 |
|||||||||||||||
Japanese plans |
Foreign plans |
Japanese plans |
Foreign plans |
|||||||||||||
Weighted average duration of defined benefit obligations |
Yen (millions) |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Personnel expenses |
¥ | ¥ | ¥ |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Financing liabilities |
¥ | ¥ | ||||||
Equity |
Shares |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Total number of authorized shares |
||||||||||||
Balance at end of year |
||||||||||||
Common shares, no par value |
||||||||||||
Total number of issued shares |
||||||||||||
Balance at beginning of year |
||||||||||||
Changes during the year |
||||||||||||
Balance at end of year |
Shares |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Common shares |
|
|
|
Yen (millions) |
||||||||||||||||
Remeasurements of defined benefit plans |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income |
Exchange differences on translating foreign operations |
Total |
|||||||||||||
Balance as of April 1, 2019 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Adjustment during the year |
¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | ||||
Reclassification to retained earnings |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2020 |
¥ | ¥ | ¥ | ( |
) | ¥ | ( |
) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Adjustment during the year |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Reclassification to retained earnings |
( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2021 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Adjustment during the year |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Reclassification to retained earnings |
( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Balance as of March 31, 2022 |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
Yen (millions) |
||||||||||||
Before-tax |
Tax benefit (expense) |
Net-of-tax |
||||||||||
Items that will not be reclassified to profit or loss: |
||||||||||||
Remeasurements of defined benefit plans: |
||||||||||||
Amount incurred during the year |
¥ | ( |
) | ¥ | ¥ | ( |
) | |||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income: |
||||||||||||
Amount incurred during the year |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Share of other comprehensive income of investments accounted for using the equity method: |
||||||||||||
Amount incurred during the year |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
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: |
||||||||||||
Amount incurred during the year |
( |
) | ||||||||||
Reclassification to profit or loss |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Exchange differences on translating foreign operations: |
||||||||||||
Amount incurred during the year |
( |
) | ( |
) | ( |
) | ||||||
Reclassification to profit or loss |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Share of other comprehensive income of investments accounted for using the equity method: |
||||||||||||
Amount incurred during the year |
( |
) | ( |
) | ||||||||
Reclassification to profit or loss |
||||||||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Total other comprehensive income |
¥ | ( |
) | ¥ | ¥ | ( |
) | |||||
|
|
|
|
|
|
Yen (millions) |
||||||||||||
Before-tax |
Tax benefit (expense) |
Net-of-tax |
||||||||||
Items that will not be reclassified to profit or loss: |
||||||||||||
Remeasurements of defined benefit plans: |
||||||||||||
Amount incurred during the year |
¥ | ¥ | ( |
) | ¥ | |||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income: |
||||||||||||
Amount incurred during the year |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Share of other comprehensive income of investments accounted for using the equity method: |
||||||||||||
Amount incurred during the year |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
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: |
||||||||||||
Amount incurred during the year |
( |
) | ( |
) | ||||||||
Reclassification to profit or loss |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ( |
) | ( |
) | ||||||
|
|
|
|
|
|
|||||||
Exchange differences on translating foreign operations: |
||||||||||||
Amount incurred during the year |
||||||||||||
Reclassification to profit or loss |
||||||||||||
|
|
|
|
|
|
|||||||
Net changes |
||||||||||||
|
|
|
|
|
|
|||||||
Share of other comprehensive income of investments accounted for using the equity method: |
||||||||||||
Amount incurred during the year |
||||||||||||
Reclassification to profit or loss |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Net changes |
||||||||||||
|
|
|
|
|
|
|||||||
Total other comprehensive income |
¥ | ¥ | ( |
) | ¥ | |||||||
|
|
|
|
|
|
Yen (millions) |
||||||||||||
Before-tax |
Tax benefit (expense) |
Net-of-tax |
||||||||||
Items that will not be reclassified to profit or loss: |
||||||||||||
Remeasurements of defined benefit plans: |
||||||||||||
Amount incurred during the year |
¥ | ¥ | ( |
) | ¥ | |||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income: |
||||||||||||
Amount incurred during the year |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Share of other comprehensive income of investments accounted for using the equity method: |
||||||||||||
Amount incurred during the year |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
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: |
||||||||||||
Amount incurred during the year |
( |
) | ( |
) | ||||||||
Reclassification to profit or loss |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Exchange differences on translating foreign operations: |
||||||||||||
Amount incurred during the year |
||||||||||||
Reclassification to profit or loss |
||||||||||||
|
|
|
|
|
|
|||||||
Net changes |
||||||||||||
|
|
|
|
|
|
|||||||
Share of other comprehensive income of investments accounted for using the equity method: |
||||||||||||
Amount incurred during the year |
( |
) | ||||||||||
Reclassification to profit or loss |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Net changes |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Total other comprehensive income |
¥ | ¥ | ( |
) | ¥ | |||||||
|
|
|
|
|
|
Yen (millions) |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Items that will not be reclassified to profit or loss: |
||||||||||||
Remeasurements of defined benefit plans |
¥ | ( |
) | ¥ | ¥ | |||||||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income |
( |
) | ( |
) | ||||||||
Items that may be reclassified subsequently to profit or loss: |
||||||||||||
Exchange differences on translating foreign operations |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Total |
¥ | ( |
) | ¥ | ¥ | |||||||
|
|
|
|
|
|
Resolution | The Board of Directors Meeting on May 8, 2019 | |
Type of shares | Common shares | |
Total amount of dividends (millions of yen) | ||
Dividend per share (yen) | ||
Record date | ||
Effective date | ||
Resolution |
The Board of Directors Meeting on August 2, 2019 | |
Type of shares | Common shares | |
Total amount of dividends (millions of yen) | ||
Dividend per share (yen) | ||
Record date | ||
Effective date | ||
Resolution |
The Board of Directors Meeting on November 8, 2019 | |
Type of shares | Common shares | |
Total amount of dividends (millions of yen) | ||
Dividend per share (yen) | ||
Record date | ||
Effective date | ||
Resolution |
The Board of Directors Meeting on February 7, 2020 | |
Type of shares | Common shares | |
Total amount of dividends (millions of yen) | ||
Dividend per share (yen) | ||
Record date | ||
Effective date |
Resolution |
The Board of Directors Meeting on May 12, 2020 | |
Type of shares |
Common shares | |
Total amount of dividends (millions of yen) |
||
Dividend per share (yen) |
||
Record date |
||
Effective date |
||
Resolution |
The Board of Directors Meeting on August 5, 2020 | |
Type of shares |
Common shares | |
Total amount of dividends (millions of yen) |
||
Dividend per share (yen) |
||
Record date |
||
Effective date |
||
Resolution |
The Board of Directors Meeting on November 6, 2020 | |
Type of shares |
Common shares | |
Total amount of dividends (millions of yen) |
||
Dividend per share (yen) |
||
Record date |
||
Effective date |
||
Resolution |
The Board of Directors Meeting on February 9, 2021 | |
Type of shares |
Common shares | |
Total amount of dividends (millions of yen) |
||
Dividend per share (yen) |
||
Record date |
||
Effective date |
Resolution |
The Board of Directors Meeting on May 1 4 , 2021 | |
Type of shares |
Common shares | |
Total amount of dividends (millions of yen) |
||
Dividend per share (yen) |
||
Record date |
||
Effective date |
7 , 2021 | |
Resolution |
The Board of Directors Meeting on November 5 , 2021 | |
Type of shares |
Common shares | |
Total amount of dividends (millions of yen) |
||
Dividend per share (yen) |
||
Record date |
||
Effective date |
1 , 2021 |
Resolution | The Board of Directors Meeting on May 13 , 2022 | |
Type of shares | Common shares | |
Resource for dividend | Retained earnings | |
Total amount of dividends (millions of yen) | ||
Dividend per share (yen) | ||
Record date | ||
Effective date | 6 , 2022 |
Yen (millions) |
||||||||||||||||||||
Motorcycle Business |
Automobile Business |
Financial Services Business |
Life Creation and Other Businesses |
Total |
||||||||||||||||
Revenue arising from contracts with customers |
||||||||||||||||||||
Japan |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
North America |
||||||||||||||||||||
Europe |
||||||||||||||||||||
Asia |
||||||||||||||||||||
Other Regions |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Revenue arising from the other sources* |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
Yen (millions) |
||||||||||||||||||||
Motorcycle Business |
Automobile Business |
Financial Services Business |
Life Creation and Other Businesses |
Total |
||||||||||||||||
Revenue arising from contracts with customers |
||||||||||||||||||||
Japan |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
North America |
||||||||||||||||||||
Europe |
||||||||||||||||||||
Asia |
||||||||||||||||||||
Other Regions |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Revenue arising from the other sources* |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
Yen (millions) |
||||||||||||||||||||
Motorcycle Business |
Automobile Business |
Financial Services Business |
Life Creation and Other Businesses |
Total |
||||||||||||||||
Revenue arising from contracts with customers |
||||||||||||||||||||
Japan |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
North America |
||||||||||||||||||||
Europe |
||||||||||||||||||||
Asia |
||||||||||||||||||||
Other Regions |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Revenue arising from the other sources* |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
* | Revenue arising from the other sources primarily includes lease revenues recognized under IFRS 16 and interest recognized under IFRS 9. |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Receivables from contracts with customers: |
||||||||
Trade receivables |
¥ | ¥ | ||||||
Contract liabilities: |
||||||||
Other current liabilities |
||||||||
Other noncurrent liabilities |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Within 1 year |
¥ | ¥ | ||||||
Between 1 and 5 years |
||||||||
Later than 5 years |
||||||||
|
|
|
|
|||||
Total |
¥ | ¥ | |
|||||
|
|
|
|
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Assets recognized from the costs to obtain a contract with a customer |
¥ | ¥ | |
Yen (millions) |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Research and development expenditures incurred during the reporting period |
¥ | ¥ | ¥ | |||||||||
Amount capitalized |
( |
) | ( |
) | ( |
) | ||||||
Amortization and impairment losses of capitalized development costs |
||||||||||||
|
|
|
|
|
|
|||||||
Total |
¥ | ¥ | ¥ | |
||||||||
|
|
|
|
|
|
Yen (millions) |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Interest income: |
||||||||||||
Financial assets measured at amortized cost |
¥ | ¥ | ¥ | |||||||||
Financial assets measured at fair value through other comprehensive income |
||||||||||||
Financial assets measured at fair value through profit or loss |
||||||||||||
|
|
|
|
|
|
|||||||
Total |
||||||||||||
|
|
|
|
|
|
|||||||
Interest expense: |
||||||||||||
Financial liabilities measured at amortized cost |
( |
) | ( |
) | ( |
) | ||||||
Other |
( |
) | ( |
) | ( |
) | ||||||
|
|
|
|
|
|
|||||||
Total |
( |
) | ( |
) | ( |
) | ||||||
|
|
|
|
|
|
|||||||
Other, net: |
||||||||||||
Dividends received: |
||||||||||||
Financial assets measured at fair value through other comprehensive income |
||||||||||||
Financial assets measured at fair value through profit or loss |
||||||||||||
Gains (losses) on derivatives: |
||||||||||||
Financial assets and financial liabilities measured at fair value through profit or loss |
( |
) | ( |
) | ||||||||
Gains (losses) on foreign exchange |
( |
) | ( |
) | ||||||||
Other |
( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|||||||
Total |
( |
) | ( |
) | ( |
) | ||||||
|
|
|
|
|
|
|||||||
Total |
¥ | ( |
) | ¥ | ( |
) | ¥ | ( |
) | |||
|
|
|
|
|
|
Yen (millions) |
||||||||||||||||||||||||||||||||||||
2020 |
2021 |
2022 |
||||||||||||||||||||||||||||||||||
Japan |
Foreign |
Total |
Japan |
Foreign |
Total |
Japan |
Foreign |
Total |
||||||||||||||||||||||||||||
Profit (loss) before income taxes |
¥ | ( |
) | ¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Income tax expense (benefit): |
||||||||||||||||||||||||||||||||||||
Current taxes |
||||||||||||||||||||||||||||||||||||
Deferred taxes |
( |
) | ( |
) | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ( |
) | ¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2020 |
2021 |
2022 |
||||||||||
Statutory income tax rate |
% | % | |
% | ||||||||
Difference in statutory income tax rates of foreign subsidiaries |
( |
) | ( |
) | ( |
) | ||||||
Effects of investments accounted for using the equity method |
( |
) | ( |
) | ( |
) | ||||||
Effects of undistributed earnings and withholding taxes on royalty |
||||||||||||
Changes in unrecognized deferred tax assets |
||||||||||||
Effects of income and expense not taxable and deductible for tax purpose |
||||||||||||
Effects of tax credit |
( |
) | ( |
) | ( |
) | ||||||
Other adjustments relating to prior years |
( |
) | ( |
) | ( |
) | ||||||
Adjustments for the uncertain tax treatments on income taxes |
( |
) | ||||||||||
Adjustments for the changes in income tax laws |
||||||||||||
Other |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Average effective tax rate |
% | % | % | |||||||||
|
|
|
|
|
|
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Deferred tax assets: |
||||||||
Inventories |
¥ | ¥ | ||||||
Accrued expenses |
||||||||
Provisions |
||||||||
Property, plant and equipment |
||||||||
Intangible assets |
||||||||
Retirement benefit liabilities |
||||||||
Carryforward of unused tax losses |
||||||||
Carryforward of unused tax credit |
||||||||
Other |
||||||||
Total |
¥ | ¥ | ||||||
Deferred tax liabilities: |
||||||||
Property, plant and equipment |
¥ | ¥ | ||||||
Intangible assets |
||||||||
Other financial assets |
||||||||
Operating leases |
||||||||
Undistributed earnings |
||||||||
Other* |
||||||||
Total |
¥ | ¥ | ||||||
Net deferred tax assets (liabilities) |
¥ | ( |
) | ¥ | ( |
) | ||
* | The amount s of deferred tax liabilities arising from retirement benefit assets included in other as of March 31, 2021 and 2022 are ¥ million and ¥ |
Yen (millions) |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Inventories |
¥ | ¥ | ( |
) | ¥ | ( |
) | |||||
Provisions |
( |
) | ( |
) | ||||||||
Property, plant and equipment |
( |
) | ( |
) | ( |
) | ||||||
Retirement benefit liabilities (assets) |
( |
) | ( |
) | ||||||||
Operating leases |
( |
) | ( |
) | ||||||||
Undistributed earnings |
( |
) | ( |
) | ||||||||
Carryforward of unused tax losses |
( |
) | ( |
) | ( |
) | ||||||
Carryforward of unused tax credit |
( |
) | ||||||||||
Other* |
||||||||||||
Total |
¥ | |
¥ | |
¥ | |
||||||
* |
The income tax expenses recognized due to the decrease of deferred tax assets arising from accrued expenses included in other as of March 31, 2022 is ¥ |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Deductible temporary differences |
¥ | |
¥ | |||||
Carryforward of unused tax losses |
||||||||
Carryforward of unused tax credit |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Within 1 year |
¥ | ¥ | ||||||
Between 1 and 5 years |
||||||||
Between 5 and 20 years |
||||||||
Indefinite periods |
||||||||
Total |
¥ | |
¥ | |||||
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Within 1 year |
¥ | |
¥ | |||||
Between 1 and 5 years |
|
|
||||||
Between 5 and 20 years |
||||||||
Indefinite periods |
||||||||
Total |
¥ | ¥ | ||||||
2020 |
2021 |
2022 |
||||||||||
Profit for the year attributable to owners of the parent (millions of yen) |
¥ | ¥ | ¥ | |||||||||
Weighted average number of common shares outstanding, basic (shares) |
||||||||||||
Basic earnings per share attributable to owners of the parent (yen) |
¥ | ¥ | ¥ |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Impact on profit before income taxes |
¥ |
( |
¥ |
( |
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Impact on profit before income taxes |
¥ | ( |
¥ | ( |
Yen (millions) |
||||||||||||||||||||
As of March 31, 2021 |
Less than 30 days past due |
30-59 days past due |
60-89 days past due |
90 days and greater past due |
Total |
|||||||||||||||
Consumer finance receivables: |
||||||||||||||||||||
Retail |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
Finance lease |
||||||||||||||||||||
Dealer finance receivables: |
||||||||||||||||||||
Wholesale |
||||||||||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
Yen (millions) |
||||||||||||||||||||
As of March 31, 2022 |
Less than 30 days past due |
30-59 days past due |
60-89 days past due |
90 days and greater past due |
Total |
|||||||||||||||
Consumer finance receivables: |
||||||||||||||||||||
Retail |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
Finance lease |
||||||||||||||||||||
Dealer finance receivables: |
||||||||||||||||||||
Wholesale |
||||||||||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
Yen (millions) |
||||||||||||||||
12-month ECL(Stage 1) |
Lifetime ECL |
Total |
||||||||||||||
As of March 31, 2021 |
Not credit-impaired (Stage 2) |
Credit-impaired (Stage 3) |
||||||||||||||
Consumer finance receivables: |
||||||||||||||||
Retail* |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Yen (millions) |
||||||||||||||||
12-month ECL(Stage 1) |
Lifetime ECL |
Total |
||||||||||||||
As of March 31, 2022 |
Not credit-impaired (Stage 2) |
Credit-impaired (Stage 3) |
||||||||||||||
Consumer finance receivables: |
||||||||||||||||
Retail* |
¥ | ¥ | ¥ | ¥ |
* | The tables above represent the gross amounts of retail receivables by stages of ECL model since the expected credit losses are measured collectively by our finance subsidiaries and the balances of those receivables are not directly allocated to the risk ratings. |
Yen (millions) |
||||||||||||||||
12-month ECL (Stage 1) |
Lifetime ECL |
Total |
||||||||||||||
As of March 31, 2021 |
Not credit-impaired (Stage 2) |
Credit-impaired (Stage 3) |
||||||||||||||
Dealer finance receivables: |
||||||||||||||||
Group A |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Group B |
||||||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Loan commitments: |
||||||||||||||||
Group A |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Group B |
||||||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Yen (millions) |
||||||||||||||||
12-month ECL (Stage 1) |
Lifetime ECL |
Total |
||||||||||||||
As of March 31, 2022 |
Not credit-impaired (Stage 2) |
Credit-impaired (Stage 3) |
||||||||||||||
Dealer finance receivables: |
||||||||||||||||
Group A |
¥ | ¥ | ¥ | ¥ | |
|||||||||||
Group B |
||||||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Loan commitments: |
||||||||||||||||
Group A |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Group B |
||||||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Commercial paper |
¥ | ¥ | ||||||
Medium-term notes |
||||||||
Total |
¥ | ¥ | ||||||
Yen (millions) |
||||||||
2021 |
2022 |
|||||||
Commercial paper programs |
¥ | ¥ | ||||||
Other |
||||||||
Total |
¥ | ¥ | ||||||
Yen (millions) |
||||||||||||||||||||
As of March 31, 2021 |
Carrying amount |
Within 1 year |
Between 1 and 5 years |
Later than 5 years |
Total contractual cash flows |
|||||||||||||||
Trade payables |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
Financing liabilities |
||||||||||||||||||||
Accrued expenses |
||||||||||||||||||||
Other financial liabilities |
||||||||||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
Yen (millions) |
||||||||||||||||||||
As of March 31, 2022 |
Carrying amount |
Within 1 year |
Between 1 and 5 years |
Later than 5 years |
Total contractual cash flows |
|||||||||||||||
Trade payables |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
Financing liabilities |
||||||||||||||||||||
Accrued expenses |
||||||||||||||||||||
Other financial liabilities |
||||||||||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ¥ | |||||||||||||||
Yen (millions) |
||||||||||||||||||||
As of March 31, 2021 |
Carrying amount |
Within 1 year |
Between 1 and 5 years |
Later than 5 years |
Total contractual cash flows |
|||||||||||||||
Lease liabilities |
¥ | |
¥ | |
¥ | |
¥ | ¥ | |
Yen (millions) |
||||||||||||||||||||
As of March 31, 2022 |
Carrying amount |
Within 1 year |
Between 1 and 5 years |
Later than 5 years |
Total contractual cash flows |
|||||||||||||||
Lease liabilities |
¥ | |
¥ | |
¥ | |
¥ | ¥ | |
Yen (millions) |
||||||||||||||||
As of March 31, 2021 |
Within 1 year |
Between 1 and 5 years |
Later than 5 years |
Total contractual cash flows |
||||||||||||
Derivative financial liabilities |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Yen (millions) |
||||||||||||||||
As of March 31, 2022 |
Within 1 year |
Between 1 and 5 years |
Later than 5 years |
Total contractual cash flows |
||||||||||||
Derivative financial liabilities |
¥ | ¥ | ¥ | ¥ |
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 |
Yen (millions) |
||||||||||||||||
As of March 31, 2021 |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||
Other financial assets: |
||||||||||||||||
Financial assets measured at fair value through profit or loss: |
||||||||||||||||
Derivatives |
||||||||||||||||
Foreign exchange instruments |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Interest rate instruments |
||||||||||||||||
Other |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Debt securities |
||||||||||||||||
Financial assets measured at fair value through other comprehensive income: |
||||||||||||||||
Debt securities |
||||||||||||||||
Equity securities |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Other financial liabilities: |
||||||||||||||||
Financial liabilities measured at fair value through profit or loss: |
||||||||||||||||
Derivatives |
||||||||||||||||
Foreign exchange instruments |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Interest rate instruments |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
¥ | ¥ | ¥ | ¥ | ||||||||||||
|
|
|
|
|
|
|
|
Yen (millions) |
||||||||||||||||
As of March 31, 2022 |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||
Other financial assets: |
||||||||||||||||
Financial assets measured at fair value through profit or loss: |
||||||||||||||||
Derivatives |
||||||||||||||||
Foreign exchange instruments |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Interest rate instruments |
||||||||||||||||
Other |
||||||||||||||||
Total |
||||||||||||||||
Debt securities |
||||||||||||||||
Financial assets measured at fair value through other comprehensive income: |
||||||||||||||||
Debt securities |
||||||||||||||||
Equity securities |
||||||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Other financial liabilities: |
||||||||||||||||
Financial liabilities measured at fair value through profit or loss: |
||||||||||||||||
Derivatives |
||||||||||||||||
Foreign exchange instruments |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Interest rate instruments |
||||||||||||||||
Othe r |
||||||||||||||||
Total |
||||||||||||||||
Total |
¥ | ¥ | ¥ | ¥ | |
|||||||||||
Yen (millions) |
||||||||||||
For the year ended March 31, 2021 |
Derivatives |
Debt securities |
Equity securities |
|||||||||
Balance as of April 1, 2020 |
¥ | ¥ | ¥ | |||||||||
Total gains or losses: |
||||||||||||
Profit or loss |
( |
) | ||||||||||
Other comprehensive income |
||||||||||||
Purchases |
||||||||||||
Sales |
( |
) | ||||||||||
Exchange differences on translating foreign operations |
||||||||||||
Balance as of March 31, 2021 |
¥ | ¥ | ¥ | |||||||||
Unrealized gains or losses included in profit or loss on assets held at March 31, 2021 |
¥ | ¥ | ( |
) | ¥ |
Yen (millions) |
||||||||||||
For the year ended March 31, 2022 |
Derivatives |
Debt securities |
Equity securities |
|||||||||
Balance as of April 1, 2021 |
¥ | ¥ | ¥ | |||||||||
Total gains or losses: |
||||||||||||
Profit or loss |
( |
) | ||||||||||
Other comprehensive income |
||||||||||||
Purchases |
||||||||||||
Sales |
( |
) | ( |
) | ||||||||
Transfer to level 1 due to listing |
( |
) | ||||||||||
Exchange differences on translating foreign operations |
||||||||||||
Balance as of March 31, 2022 |
¥ | ¥ | ¥ | |||||||||
Unrealized gains or losses included in profit or loss on assets held at March 31, 2022 |
¥ | ( |
) | ¥ | ¥ |
1. | Gains or losses included in profit or loss for the years ended March 31, 2021 and 2022 are included in other, net in finance income and finance costs in the consolidated statements of income. |
2. | Gains or losses on equity securities included in other comprehensive income for the years ended March 31, 2021 and 2022 are included in net changes in revaluation of financial assets measured at fair value through other comprehensive income under items that will not be reclassified to profit or loss in the consolidated statements of comprehensive income. |
Yen (millions) |
||||||||||||||||
2021 |
2022 |
|||||||||||||||
Carrying amount |
Fair value |
Carrying amount |
Fair value |
|||||||||||||
Receivables from financial services |
¥ | ¥ | ¥ | ¥ | ||||||||||||
Debt securities |
||||||||||||||||
Financing liabilities |
Yen (millions) |
||||||||||||||||||||
As of March 31, 2021 |
Gross amounts of recognized financial assets and financial liabilities |
Amounts offset in the consolidated statements of financial position |
Net amounts presented in the consolidated statements of financial position |
Amounts not offset due to not meeting offsetting criteria despite being subject to a master netting agreement or similar agreement |
Net Amounts |
|||||||||||||||
Other financial assets |
||||||||||||||||||||
Derivatives |
¥ | ¥ | |
¥ | ¥ | ( |
) | ¥ | ||||||||||||
Other financial liabilities |
||||||||||||||||||||
Derivatives |
( |
) |
Yen (millions) |
||||||||||||||||||||
As of March 31, 2022 |
Gross amounts of recognized financial assets and financial liabilities |
Amounts offset in the consolidated statements of financial position |
Net amounts presented in the consolidated statements of financial position |
Amounts not offset due to not meeting offsetting criteria despite being subject to a master netting agreement or similar agreement |
Net Amounts |
|||||||||||||||
Other financial assets |
||||||||||||||||||||
Derivatives |
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*1 | Incorporated by reference to the registrant’s Annual Report on Form 20-F filed on June 23, 2021. |
*2 | Incorporated by reference to the registrant’s Annual Report on Form 20-F filed on June 23, 2021. |
*3 | Incorporated by reference to the registrant’s Annual Report on Form 20-F filed on June 23, 2021. |
*4 | Incorporated by reference to the registrant’s Annual Report on Form 20-F filed on September 27, 2001. (P) |
*5 | Incorporated by reference to the registration statement for American Depositary Shares on Form F-6 (File No. 333-263937) filed by JPMorgan Chase Bank, N.A. as depositary, on March 29, 2022. |
*6 | Incorporated by reference to the registrant’s Annual Report on Form 20-F filed on July 9, 2004. |
HONDA GIKEN KOGYO KABUSHIKI KAISHA (HONDA MOTOR CO., LTD.) | ||
By: | /s/ Toshihiro Mibe | |
Toshihiro Mibe Director, President and Representative Executive Officer Chief Executive Officer | ||
Date: June 22, 2022 | ||
Tokyo, Japan |
Exhibit 1.3
[Translation]
REGULATIONS OF THE BOARD OF DIRECTORS
HONDA MOTOR CO., LTD.
REGULATIONS OF THE BOARD OF DIRECTORS
Article 1. (Purpose)
These regulations set out matters concerning the Board of Directors of the Company in accordance with Article 23 of the Articles of Incorporation of the Company.
Article 2. (Composition)
The Board of Directors shall consist of all the Directors of the Company.
Article 3. (Convocation)
Meetings of the Board of Directors shall be convened at least once every three (3) months and at least seven (7) times a year, and whenever necessary.
Article 4. (Authority to Convene Meetings of the Board of Directors and the Chairperson)
The Director who has been determined in advance by the Board of Directors shall convene meetings of the Board of Directors and shall act as the chairperson thereat. If such Director is prevented from so doing, one of the other Directors shall assume their role in the order which has been determined in advance by the Board of Directors. Notwithstanding the foregoing, in the case where any laws and regulations provide otherwise, one of the other Directors or Executive Officers shall convene the meeting of the Board of Directors.
Article 5. (Notice of Convocation)
1. A notice of convocation of a meeting of the Board of Directors shall be sent to each Director three (3) days prior to the date of the meeting.
2. If all the Directors consent in advance, a meeting of the Board of Directors may be held without following the procedures for convening a meeting.
Article 6. (Method of Resolutions)
1. Resolutions of a meeting of the Board of Directors shall be adopted by a vote of a majority of the Directors present thereat who constitute a majority of the Directors.
2. Any Director who has any special interests in any matter which is put to a vote may not participate in the voting on any resolution that is described in the preceding paragraph.
3. Any Director who cannot participate in the voting on a resolution due to the provision of the preceding paragraph will not be counted in the number of Directors mentioned in Paragraph 1 of this article.
4. If the requirements set out in Article 370 of the Company Law are satisfied, those matters that are the object of the resolution of the Board of Directors shall be deemed to have been resolved by the Board of Directors.
Article 7. (Matters to be Resolved)
The matters to be resolved by the Board of Directors are as follows:
(1) Matters with respect to the Company Group (meaning the corporate group consisting of the Company and its subsidiaries):
(i) | basic management policies of the Company Group and other equivalent matters; and |
(ii) | other important matters with respect to the Company Group. |
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(2) Matters with respect to the Company:
(i) | the convocation of a general meeting of the Shareholders and the objectives thereof and the matters to be submitted thereto; |
(ii) | the matters concerning the Directors; |
(iii) | the matters concerning the members of the nominating committee, the audit committee, and the compensation committee (Nominating Committee, Etc.); |
(iv) | the matters concerning the Executive Officers; |
(v) | any conflict of interest transactions and transactions by a Director or an Executive Officer competing with the Companys business; |
(vi) | the issue of new shares; |
(vii) | the matters to be submitted to relating to financial reports and business reports, and schedules attached thereto; |
(viii) | the disposition of surplus; |
(ix) | the appointment and dismissal of managers and other important employees; |
(x) | the matters concerning the development of internal control systems; |
(xi) | the matters necessary for the performance of the duties of the audit committee; and |
(xii) | other matters prescribed by laws and regulations or in the Articles of Incorporation. |
Article 8. (Matters to be Reported)
1. Directors and Executive Officers shall report to the Board of Directors without delay if any of the matters set forth below occurs:
(1) | a conflict of interest transaction or a transaction by a Director or an Executive Officer competing with the Companys business is undertaken; |
(2) | a Director or an Executive Officer becomes an unlimited-liability partner, director, corporate auditor or manager of another company; or |
(3) | Article 331, Paragraph 1 of the Company Law is applicable. |
2. The Executive Officers shall report to the Board of Directors on the state of the performance of the business at least once every three (3) months.
3. The Nominating Committee, Etc. shall report to the Board of Directors on the state of the performance of duties of the committees without delay.
4. If a Director or an Executive Officer notifies all of the Directors of any matter that should be reported to the Board of Directors, that matter shall not be required to be reported to the Board of Directors.
5. The provision of the preceding paragraph does not apply to any reporting that is set out in Paragraph 2 of this article.
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Article 9. (Minutes)
The substance of the proceedings of the meeting of the Board of Directors, the results thereof, and any matter prescribed by laws and regulations shall be recorded in minutes, to which the Directors present thereat shall affix their names and seals.
Article 10. (Amendment)
Any amendment of these regulations shall be subject to a resolution of the Board of Directors.
Supplementary Provision
Came into effect on October 1, 1982
Partly amended on April 18, 1983
Partly amended on May 28, 1987
Partly amended on April 27, 2001
Partly amended on June 25, 2002
Partly amended on April 21, 2003
Partly amended on June 24, 2003
Partly amended on June 23, 2004
Partly amended on February 25, 2005
Partly amended on June 23, 2005
Partly amended on June 23, 2006
Partly amended on February 1, 2008
Partly amended on June 23, 2009
Partly amended on June 23, 2011
Partly amended on April 1, 2014
Partly amended on June 15, 2017
Partly amended on April 1, 2019
Partly amended on June 23, 2021
Partly amended on April 1, 2022
-End-
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Exhibit 2.3
Description of rights of each class of securities
registered under Section 12 of the Securities Exchange Act of 1934
American Depositary Shares (ADSs) representing one share of Hondas Common Stock (the Common Stock) are listed and traded on the New York Stock Exchange and, in connection with this listing (but not for trading), Hondas Common Stock is registered under Section 12(b) of the Exchange Act. This exhibit contains a description of the rights of (i) the holders of shares of Common Stock and (ii) ADS holders. Shares of Common Stock underlying the ADSs are held by JPMorgan Chase Bank, N.A., as depositary, and holders of ADSs will not be treated as holders of the shares of Common Stock.
Disclosures under the following items are not applicable to Honda and have been omitted: debt securities (Item 12.A of Form 20-F), warrants and rights (Item 12.B of Form 20-F) and other securities (Item 12.C of Form 20-F).
Common Stock
Type and Class of Securities (Item 9.A.5 of Form 20-F)
The respective number of shares of Common Stock authorized and outstanding as of the last day of the fiscal year is given on the cover page of the annual report to which this description is attached or incorporated by reference as an exhibit.
Preemptive Rights (Item 9.A.3 of Form 20-F)
See Rights of the Shares (Item 10.B.3 of Form 20-F)Subscription Rights and Stock Acquisition Rights below.
Limitations or Qualifications (Item 9.A.6 of Form 20-F)
Not applicable.
Other Rights (Item 9.A.7 of Form 20-F)
Not applicable.
Rights of the Shares (Item 10.B.3 of Form 20-F)
Set forth below is information relating to Hondas Common Stock, including brief summaries of the relevant provisions of Hondas Articles of Incorporation and Share Handling Regulations as currently in effect, and of the Company Law of Japan (the Company Law) and related legislation.
General
The current central clearing system for shares of Japanese listed companies was established in 2009 pursuant to the Law Concerning Book-Entry Transfer of Corporate Bonds, Shares, Etc. of Japan (including the cabinet order and ministerial ordinances promulgated thereunder; the Book-Entry Law). The shares of all Japanese companies listed on any Japanese financial instruments exchange, including Hondas shares, are subject to the system. Under the Book-Entry Law, all shares are dematerialized and all share certificates for such shares are null and void. At present, the Japan Securities Depository Center, Inc. (JASDEC) is the sole institution that
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is designated by the relevant authorities as a book-entry transfer institution which is permitted to engage in the clearing operations of shares of Japanese listed companies under the Book-Entry Law. Under the clearing system, in order for any person to hold, sell or otherwise dispose of shares of Japanese listed companies, such person must have an account at an account management institution unless such person has an account directly at JASDEC. Account management institutions are, in general, financial instruments firms engaged in type 1 financial instruments business (i.e., securities brokers/dealers), banks, trust companies and certain other financial institutions which meet the requirements prescribed by the Book-Entry Law.
Under the Book-Entry Law, any transfer of shares of Japanese listed companies is effected through book entry, and title to the shares passes to the transferee at the time when the transferred number of the shares is by an application for book entry recorded in the transferees account at an account management institution. The holder of an account at an account management institution is presumed to be the legal owner of the shares recorded in such account.
A registered shareholder is generally entitled to exercise its rights as a shareholder, such as voting rights and to receive dividends (if any). Under the Company Law and the Book-Entry Law, in order to assert shareholders rights against Honda, a shareholder must have its name and address registered in the register of shareholders, except in limited circumstances. Although, in general, holders of an account with shares recorded are to be registered in the register of shareholders on the basis of an all-shareholders notice from JASDEC to Honda at certain prescribed times, in order to exercise minority shareholders rights (other than those the record dates for which are fixed) against Honda, a holder of an account with shares needs to (a) make an application through an account management institution to JASDEC, which will then give a notice of the name and address of such holder, the number of shares held by such holder and other requisite information to Honda, and (b) exercise the rights within four weeks from such notice.
Non-resident shareholders are required to appoint a standing proxy in Japan or provide a mailing address in Japan. Each such shareholder must give notice of such standing proxy or mailing address to the relevant account management institution. Such notice will be forwarded to Honda through JASDEC. Japanese financial instruments firms and commercial banks customarily act as standing proxies and provide related services for standard fees. Notices from Honda to non-resident shareholders are delivered to such standing proxies or mailing addresses.
Dividends
Under its Articles of Incorporation, Hondas financial accounts will be closed on March 31 of each year. The record dates for dividends are September 30 and March 31 of each year. In addition, Honda may distribute dividends from surplus by determining any record date.
Under the Company Law, a company is permitted to make distributions of surplus to the shareholders any number of times per fiscal year pursuant to resolutions of a general meeting of shareholders, subject to certain limitations provided by the Company Law and the Ordinances of the Ministry of Justice thereunder. Distributions of surplus are required, in principle, to be authorized by a resolution of a general meeting of shareholders. However, if the articles of incorporation so provide and certain other requirements under the Company Law are met, distributions of surplus may be made pursuant to a board resolution. Pursuant to the provisions of the Company Law and its Articles of Incorporation, the Board of Directors of Honda may determine distributions of its surplus.
Distributions of surplus may be made in cash or in-kind in proportion to the number of shares held by each shareholder. If a distribution of surplus is to be made in-kind, a special resolution of a general meeting of shareholders is required, except in the case that a right to receive cash distribution instead of distribution in-kind is granted to shareholders. If such right is granted, distributions in-kind may be made pursuant to an ordinary resolution of a general meeting of shareholders or, as the case may be, a board resolution.
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Under the Company Law, Honda is permitted to prepare non-consolidated extraordinary financial statements consisting of a balance sheet as of any date subsequent to the end of the previous fiscal year and an income statement for the period from the first day of the current fiscal year to the date of such balance sheet. If such extraordinary financial statements are prepared and approved in accordance with the provisions of the Company Law and the Ordinances of the Ministry of Justice thereunder, the results of such extraordinary financial statements may be considered in the calculation of distributable amount.
Under its Articles of Incorporation, Honda is not obligated to pay any dividends which are left unclaimed for a period of three full years after the date on which they first became payable.
Capital and Reserves
The entire amount of the issue price of the shares to be issued in the future shall generally be accounted for as stated capital. However, Honda may account for an amount not exceeding one-half of such issue price as additional paid-in capital by resolution of the Board of Directors in accordance with the Company Law. Honda may at any time reduce the whole or any part of its additional paid-in capital or transfer them to stated capital by resolution of a General Meeting of Shareholders. The whole or any part of surplus may also be transferred to stated capital, additional paid-in capital or legal reserve by resolution of a General Meeting of Shareholders.
Stock Splits
Honda may at any time split its shares into a greater number of shares by resolution of the Board of Directors. When the Board of Directors approves a stock split, it may also amend the Articles of Incorporation of Honda without approval of shareholders to increase the number of its authorized shares to such number as it determines, provided such number is equal to or less than the then-current number multiplied by the ratio of the stock split, so long as Honda does not issue more than one class of shares.
Under the Book-Entry Law, Honda must give notice to JASDEC regarding a stock split at least two weeks prior to the relevant effective date. On the effective date of the stock split, the numbers of shares recorded in all accounts held by its shareholders at account management institutions or at JASDEC will be increased in accordance with the applicable ratio.
Consolidation of Shares
Honda may at any time consolidate its shares into a smaller number of shares by a special resolution of the General Meeting of Shareholders. Director and Representative Executive Officer of Honda must disclose the reason for the consolidation of the shares at the General Meeting of Shareholders. If the consolidation of shares effected by Honda produces any fractional shares, any dissenting shareholder of such fractional shares may request that Honda purchase all of such fractional shares held by such holder, at a fair price.
Under the Book-Entry Law, Honda must give notice to JASDEC regarding a consolidation of shares at least two weeks prior to the relevant effective date. On the effective date of the consolidation of shares, the numbers of shares recorded in all accounts held by its shareholders at account management institutions or at JASDEC will be decreased in accordance with the applicable ratio.
Voting Rights
Pursuant to the Articles of Incorporation, Honda holds its Ordinary General Meeting of Shareholders within three months of the end of each fiscal year (i.e., in June of each year), provided that applicable Japanese law allows, in emergency situations where it is not possible to hold such meeting as set forth in the Articles of Incorporation, for the date of the Ordinary General Meeting of Shareholders to be postponed until a reasonable date following the end of such emergency situation. In addition, Honda may hold an Extraordinary General
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Meeting of Shareholders whenever necessary by giving at least two weeks advance notice. Under the Company Law, notice of any shareholders meeting must be given to each shareholder having voting rights or, in the case of a non-resident shareholder, to his resident proxy or mailing address in Japan in accordance with Hondas Share Handling Regulations, at least two weeks prior to the date of the meeting. Pursuant to the Articles of Incorporation, the record date for an Ordinary General Meeting of Shareholders is the last day of each fiscal year (i.e., March 31 of each year). Under applicable Japanese law, however, the record date for a General Meeting of Shareholders must be within three months of the date on which such meeting is held. If the date of such meeting is postponed to a date that is greater than three months from the applicable record date (for example, in response to an emergency situation where it is not possible to hold such meeting as planned), a new record date must be set.
A shareholder of Honda is generally entitled to one vote per voting unit of shares as described in this paragraph and under Differences between the Law of Different Jurisdictions (Item 10.B.9 of Form 20-F)Japanese Unit Share System. In general, under the Company Law and the Articles of Incorporation of Honda, a resolution may be adopted at a General Meeting of Shareholders by a majority of the shares having voting rights represented at the meeting. The Company Law and Hondas Articles of Incorporation require a quorum for the election of Directors of not less than one-third of the total number of voting rights of all shareholders and the resolution shall be adopted by majority voting. Hondas shareholders are not entitled to cumulative voting in the election of directors. A corporate shareholder whose voting rights are in turn not less than one-quarter directly or indirectly owned by Honda does not have voting rights. Also, Honda does not have voting rights with respect to its own shares.
Shareholders may exercise their voting rights through proxies, provided that those proxies are also shareholders who have voting rights. Shareholders who intend to be absent from a general meeting of shareholders may exercise their voting rights in writing. In addition, they may exercise their voting rights by electronic means if the Board of Directors decides to accept such means.
Under the Company Law, in order to approve certain significant matters of a corporation, a more strict requirement for the quorum or the number of voting rights to approve is provided. The Articles of Incorporation of Honda provide that such resolution may be adopted at a General Meeting of Shareholders by at least two thirds of the voting rights of the shareholders present at the meeting representing at least one third of all the shareholders having voting rights. Such significant matters include, but are not limited to:
| acquisition of its own shares by Honda from a specific shareholder other than its subsidiary, |
| acquisition of special shares all of which may be acquired by Honda (zembu shutoku joukou tsuki shurui kabushiki), |
| consolidation of the shares, |
| reduction of stated capital (with certain exceptions), |
| issuance or transfer of new shares or existing shares held by Honda as treasury stock to persons other than the shareholders at a specially favorable price, |
| issuance of stock acquisition rights (including those incorporated in bonds with stock acquisition rights) to persons other than the shareholders under specially favorable conditions, |
| discharge of a part of responsibilities of Directors, Executive Officers or accounting auditors, |
| distribution of surplus by property other than cash (only in the case that no cash distribution is allowed to shareholders), |
| amendments to the Articles of Incorporation, |
| transfer of whole or important part of business, |
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| dissolution of a corporation, |
| reorganization of a corporation. |
For a description of the process and procedures for the voting of ADRs representing Common Stock, see American Depositary SharesVoting deposited securities.
Subscription Rights and Stock Acquisition Rights
Holders of Hondas shares have no preemptive rights under Hondas Articles of Incorporation. Under the Company Law, the board of directors may, however, determine that shareholders be given subscription rights in connection with a particular issue of new shares. In this case, such rights must be given to all shareholders as of a specified record date by at least two weeks prior public notice to shareholders of the record date. In addition, individual notice must be given to each of these shareholders at least two weeks prior to the date of expiration of the subscription rights.
Honda also may decide to grant the stock acquisition rights (shinkabu-yoyakuken), with or without bonds, to any person including its shareholders, by resolution of its Board of Directors unless issued under specially favorable conditions. The holder of such rights may exercise its rights within the exercise period by paying subscription moneys all as prescribed in the terms of such rights.
Liquidation Rights
In the event of a liquidation of Honda, the assets remaining after payment of all debts, liquidation expenses and taxes will be distributed among the shareholders in proportion to the number of shares they own.
Liability to Further Calls or Assessments
All of Hondas currently issued shares, including shares represented by the ADSs, are fully paid and nonassessable.
Record Date
As mentioned above, the record dates for Hondas dividends are September 30 and March 31, if paid. Under the Articles of Incorporation, a holder of shares constituting one or more whole voting units who is registered as a holder on Hondas register of shareholders at the close of business as of March 31 is entitled to exercise its voting rights at the Ordinary General Meeting of Shareholders with respect to the fiscal year ended on March 31. In addition, Honda may set a record date for determining the shareholders entitled to other rights and for other purposes by giving at least two weeks prior public notice. Under applicable Japanese law, however, the record date for a General Meeting of Shareholders must be within three months of the date on which such meeting is held. If the date of such meeting is postponed to a date that is greater than three months from the applicable record date (for example, in response to an emergency situation where it is not possible to hold such meeting as planned), a new record date must be set.
Under the Book-Entry Law, Honda is required to give notice of each record date to JASDEC at least two weeks prior to such record date. JASDEC is required to promptly give notice to Honda of the names and addresses of all of its shareholders of record, the numbers of shares held by them and other relevant information as of such record date.
The shares generally trade ex-dividend or ex-rights on the Japanese financial instruments exchanges on the first business day prior to a record date (or if the record date is not a business day, the second business day prior thereto.
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Acquisition of Own Shares
Under the Company Law, Honda is generally required to obtain authorization for any acquisition of its own shares by means of:
(i) | a resolution at a General Meeting of Shareholders, which may be effective for one year at the most from the date thereof; |
(ii) | a resolution of the Board of Directors if the acquisition is in accordance with its Articles of Incorporation; or |
(iii) | a resolution of the Board of Directors if the acquisition is to purchase its shares from its subsidiary. |
Honda may only dispose of shares so acquired in accordance with the procedures applicable to a new share issuance under the Company Law.
Upon due authorization, Honda may acquire its own shares:
| in the case of (i) and (ii) above, from stock markets or by way of tender offer; |
| in the case of (i) above, from a specific person, but only if its shareholders approve such acquisition by special resolution; and |
| in the case of (iii) above, from such subsidiary. |
In the event Honda is to acquire its own shares from a specific person other than its subsidiary at a price which is higher than the higher of (x) the final market price on the market trading such shares as of the date immediately preceding the date of the required resolution or (y) in the event that such shares are subject to a tender offer, etc., the price set in the contract regarding such tender offer, any shareholder may request that Honda includes such shareholders shares in the proposed purchase.
Acquisitions described in (i) through (iii) above must satisfy certain other requirements, including the restriction of the source of consideration in which the total amount of the purchase price of such own shares may not exceed the distributable amount of the corporation.
Reports to Shareholders
Honda currently furnishes shareholders with notices of shareholders meetings, business reports, including financial statements, and notices of resolutions adopted at the shareholders meetings, all of which are in Japanese. Such notices of shareholders meetings as described above may be furnished by electronic means to those shareholders who have approved such way of furnishing notices. After the effectiveness of the revisions to the Company Law, which is scheduled to occur on September 1, 2022, such notices of shareholders meetings will be furnished by electronic means to shareholders without their approvals pursuant to the Articles of Incorporation, provided however, that if the date of a shareholders meeting of the Company falls within 6 months from such effectiveness of the revisions to the Company Law, the current measures for the relevant notices continue to apply. Pursuant to its Articles of Incorporation, upon convening a General Meeting of Shareholders, Honda may deem that the information required to be described or indicated in the reference documents for the General Meeting of Shareholders, business reports, financial statements and consolidated financial statements shall have been provided to the shareholders when such information is disclosed, pursuant to laws or regulations, through a method that uses the Internet. Further, pursuant to its Articles of Incorporation, Hondas public notices to shareholders shall be given in Japanese by way of electronic public notice; provided, however, that if any public notice is unable to be given by electronic method due to any accident or for any other unavoidable reason, such public notice shall be given by publication in the Nihon Keizai Shimbun, a Japanese newspaper of general circulation.
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Requirements for Amendments (Item 10.B.4 of Form 20-F)
Please refer to Rights of the Shares (Item 10.B.3 of Form 20-F)Voting Rights above. None of the requirements for amendments are more significant than required by applicable law.
Limitations on the Rights to Own Shares (Item 10.B.6 of Form 20-F)
In addition to the Japanese unit share system that is described under Differences between the Law of Different Jurisdictions (Item 10.B.9 of Form 20-F)Japanese Unit Share System below, the Foreign Exchange and Foreign Trade Law of Japan (the Foreign Exchange and Foreign Trade Law) and the cabinet orders and ministerial ordinances thereunder (collectively, the Foreign Exchange Regulations) govern the acquisition and holding of shares of Honda by exchange non-residents and by foreign investors.
Exchange non-residents are:
| individuals who do not reside in Japan; and |
| corporations whose principal offices are located outside Japan. Generally, branches and other offices of non-resident corporations that are located within Japan are regarded as residents of Japan. Conversely, branches and other offices of Japanese corporations located outside Japan are regarded as exchange non-residents. |
Foreign investors are:
(i) | individuals who are exchange non-residents; |
(ii) | corporations or other organizations that are organized under the laws of foreign countries or whose principal offices are located outside of Japan (excluding partnerships falling within (iv) below); |
(iii) | corporations of which 50% or more of their voting rights are held directly or indirectly by individuals and/or corporations falling within (i) and/or (ii) above; |
(iv) | general partnerships under the Civil Code of Japan established to invest in corporations, limited partnerships for investment under the Limited Partnership Act for Investment of Japan, or any other similar partnerships under the laws of foreign countries, where either (a) 50% or more of the contributions to such entities are made by exchange non-residents or certain other foreign investors or (b) a majority of the general partners who are delegated to execute the business of such general partnerships, general partners of such limited partnerships or other similar partners of the other similar partnerships are exchange non-residents or certain other foreign investors; or |
(v) | corporations or other entities of which a majority of either (a) directors or other officers (including those who have the same degree or more control over such corporations or such other entities as directors or other officers) or (b) directors or other officers (including those who have the same degree or more control over such corporations or such other entities as directors or other officers) having the power of representation are individuals who are exchange non-residents. |
A foreign investor who plans to acquire 1% or more of issued shares or the total voting rights of Honda must, in principle, file a prior notification with the Minister of Finance and any other competent Ministers having jurisdiction. That is because Honda has been designated as a company conducting business activities in industries categorized as the core sectors in relation to the national security of Japan (the Core Sectors) as defined under the Foreign Exchange and Foreign Trade Law. However, certain exemptions are provided for foreign investors other than those who have been subject to punitive measure within five years for violating the Foreign Exchange and Foreign Trade Law or investors that are foreign governments or foreign state-owned enterprises (excluding those accredited by the Minister of Finance), if they satisfy certain requirements described below. The foreign investors who satisfy the following conditions, among others, will be exempted from the prior notification
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requirement under the Foreign Exchange Regulations: (1) a foreign financial institution that (a) is located in the countries that are listed in the relevant schedule under the Foreign Exchange Regulations, (b) meets the conditions set by the Minister of Finance and any other competent Ministers having jurisdiction, and (2) a foreign investor other than foreign financial institution that, in addition to satisfying (a) and (b) above, (c) will not hold 10% or more of issued shares or the total voting rights of Honda after its acquisition.
The conditions mentioned in (1)(b) in the preceding paragraph include the following, among others: (1) in the case of a foreign financial institution, (i) not becoming a board member of Honda itself or through its closely-related person, (ii) not submitting any agenda proposing transfer or disposition of the business categorized as designated business sectors under the Foreign Exchange Regulations (the Designated Business Sectors) to a shareholders meeting, and (iii) not acquiring confidential technical information relating to business activities in the Designated Business Sectors or doing any act that causes disclosure of such information, and (2) in the case of a foreign investor other than foreign financial institution, in addition to satisfying (i), (ii) and (iii) above, (iv) not attending the meeting of board of directors or any committee of Honda which makes important decision in connection with business activities in the Core Sectors, and (v) not making any proposal to the board of directors or board members in writing requiring their responses and/or actions by certain deadlines in connection with the business activities in the Core Sectors.
Even if a foreign investor is exempted from the prior notification requirement under the Foreign Exchange Regulations, the foreign investor must file a report of the acquisition with the Minister of Finance and any other competent Ministers having jurisdiction within 45 days from the date of the acquisition (1) in the case of a foreign financial institution, each time when it acquires 10% or more of issued shares or the total voting rights of Honda, and (2) in the case of a foreign investor other than foreign financial institution, when it acquires 1% or more or 3% or more, respectively, of issued shares or the total voting rights of Honda for the first time (for the avoidance of doubt, an acquisition of 10% or more of issued shares or the total voting rights of Honda by a foreign investor other than foreign financial institution is subject to the prior notification requirement as mentioned above, and therefore a post fact report is not applicable to such acquisition).
In addition, even if the acquisition of shares of Honda by an exchange non-resident from a resident of Japan is not subject to any prior filing requirements in general, in certain limited circumstances, the Minister of Finance may require prior approval of such acquisition. In addition, in case a resident of Japan transfers shares of Honda for consideration exceeding ¥100 million to an exchange non-resident, the resident of Japan who transfers the shares is required to report the transfer to the Minister of Finance within 20 days from the date of the transfer or the date of receipt of payment, whichever comes later, unless the transfer was made through a bank or financial instruments firms licensed or registered under Japanese law.
Provisions Affecting Any Change of Control (Item 10.B.7 of Form 20-F)
Not applicable.
Ownership Threshold (Item 10.B.8 of Form 20-F)
The Financial Instruments and Exchange Law of Japan and regulations under such law require any person other than the relevant corporation who has become a holder (together with its related persons) of more than 5% of the total issued shares of a corporation listed on any Japanese financial instruments exchange or whose shares are traded on the over-the-counter market (including ADSs representing such shares) to file with the Director of a competent Local Finance Bureau, within five business days, in general, a report concerning those shareholdings. A similar report must also be filed to reflect any change of 1% or more in any shareholding or any change in material matters set out in reports previously filed. As of April 1, 2014, any person who filed a report on or after that date to reflect a change in holding of 5% or less of the total issued shares is not required to file any further report for a change of 1% or more in shareholding (unless the holding exceeds 5%) or any change in material matters previously reported. Copies of any report must also be furnished to all Japanese financial instruments
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exchanges on which the corporations shares are listed or in the case of shares traded on the over-the-counter market, the Japan Securities Dealers Association. For this purpose, shares issuable or transferable to such person upon exercise of exchangeable securities, conversion of convertible securities or exercise of warrants or stock acquisition rights are taken into account in determining both the number of shares held by that holder and the corporations total issued share capital.
Differences Between the Law of Different Jurisdictions (Item 10.B.9 of Form 20-F)
Japanese Unit Share System
Consistent with the requirements of the Company Law, the Articles of Incorporation of Honda adopts a unit share system called tan-gen-kabu, under which 100 shares constitute one voting unit of shares. The Board of Directors of Honda by itself may reduce, but not increase, the number of shares that constitute one voting unit or abolish the unit share system entirely by amendments to the Articles of Incorporation by a board resolution without approval of shareholders. An increase in the number of shares that constitute one voting unit requires an amendment to the articles of incorporation by a special resolution of a general meeting of shareholders. In any case, the number of shares constituting one voting unit may not exceed 1,000 shares or 0.5% of the total issued shares.
Under the Book-Entry Law, shares constituting less than one voting unit are transferable. Under the rules of the Japanese financial instruments exchanges, however, shares constituting less than one voting unit do not comprise a trading unit, except in limited circumstances, and accordingly may not be sold on the Japanese financial instruments exchanges.
The holder of shares constituting less than one voting unit may at any time require Honda to purchase or sell such shares to constitute one voting unit at the market price in accordance with Hondas Share Handling Regulations (see below). Because the transfer of ADRs does not require changes in the ownership of the underlying shares, holders of ADRs evidencing ADSs that constitute less than one voting unit of shares are not affected by these restrictions in their ability to transfer the ADRs. However, because transfers of less than one voting unit of the underlying shares are normally prohibited under the unit share system, under the Deposit Agreement, the right of ADR holders to surrender their ADRs and withdraw the underlying shares for sale in Japan may only be exercised as to whole voting units.
Right of a Holder of Shares Representing Less Than One Voting Unit to Require Honda to Purchase or Sell Its Shares.
A holder of Hondas shares representing less than one voting unit may at any time require Honda to purchase its shares. These shares will be purchased at (a) the closing price of the shares reported by the Tokyo Stock Exchange on the day when the request for purchase reaches the share handling agent, or (b) if no sale takes place on the Tokyo Stock Exchange on that day, then the price at which the first sale of shares is effected on the Tokyo Stock Exchange thereafter. In each case, Honda will request the payment of an amount determined by Honda as an amount equal to the brokerage commission required for the sale and purchase of the shares. A holder of shares representing less than one voting unit may, in accordance with the provisions of Hondas Share Handling Regulations, also make a request to the effect that such number of shares should be sold to it that will, when added to the shares less than one voting unit already held by that shareholder, constitute one voting unit. However, because holders of ADSs representing less than one unit are not able to withdraw the underlying shares from deposit, these holders will not be able to exercise many shareholder rights as a practical matter.
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Other Rights of a Holder of Shares Representing Less Than One Voting Unit.
In addition to the rights described in the preceding paragraph, a holder of shares representing less than one voting unit also has the rights including the followings and these rights may not be restricted by the articles of incorporation:
| rights to receive any consideration for acquisition by a corporation of special shares all of which may be acquired by such corporation (zembu shutoku joukou tsuki shurui kabushiki) as provided by Article 171, paragraph 1, item 1 of the Company Law, |
| rights to receive any cash or other consideration for acquisition by a corporation of shares which may be acquired by such corporation on occurrence of certain event (shutoku joukou tsuki kabushiki) as provided by Article 107, paragraph 1, item 3 of the Company Law, |
| rights to be allocated any shares without consideration as provided by Article 185 of the Company Law, |
| rights to receive distribution of any residual assets of a corporation, and |
| any other rights provided in the relevant Ordinance of the Ministry of Justice, including rights to receive cash or other distribution derived from consolidation of shares, stock split, allocation of stock acquisition rights without consideration, distribution of surplus or reorganization of a corporation. |
Other rights of a holder of shares constituting less than one voting unit may be restricted if the articles of incorporation so provide.
Voting rights under the unit share system.
Under the unit share system, the shareholders shall have one voting right for each voting unit of shares that they hold. A shareholder who owns shares representing less than one voting unit will not be able to exercise voting rights and any other rights relating thereto.
Daily Price Limits under Japanese Financial Instruments Exchange Rules
Share prices on Japanese financial instruments exchanges are determined on a real-time basis by the equilibrium between bids and offers. These exchanges set daily price limits, which limit the maximum range of fluctuation within a single trading day. Daily price limits are set in absolute yen according to the previous days closing price or special quote. Although transactions may continue at the upward or downward limit price if the limit price is reached on a particular trading day, no transactions may take place outside these limits. Consequently, an investor wishing to sell at a price above or below the relevant daily limit may not be able to sell its shares at such price on a particular trading day, or at all.
Changes in Capital (Item 10.B.10 of Form 20-F)
Please refer to Rights of the Shares (Item 10.B.3 of Form 20-F)Capital and Reserves and Rights of the Shares (Item 10.B.3 of Form 20-F)Voting Rights above. None of the requirements for changes in capital are more stringent than required by applicable law.
American Depositary Shares (Items 12.D.1 and 12.D.2 of Form 20-F)
Under the Second and Restated Deposit Agreement (the Deposit Agreement), JPMorgan Chase Bank, N.A, a national banking association organized under the laws of the United States, is the Depositary (the Depositary) of Hondas ADSs representing Hondas Common Stock, including evidence of rights to receive such Common Stock. Each ADS represents one share of Common Stock at the date of the applicable ADR, deposited at the principal office of MUFG Bank, Ltd., Tokyo (the Custodian), as agent of the Depositary. The address of the Depositarys office is 383 Madison Avenue, Floor 11, New York, New York 10179 (the Depositarys Office).
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The rights of ADR holders, including their rights to corporate governance practices, are governed by the Deposit Agreement which is an exhibit to the annual report to which this description is attached or incorporated by reference as an exhibit.
You may hold ADSs either directly or indirectly through your broker or other financial institution. If you hold ADSs directly, you are an ADR holder. This description assumes you hold your ADSs directly. If you hold the ADSs indirectly, you must rely on the procedures of your broker or other financial institution to assert the rights of ADR holders described in this section. You should consult with your broker or financial institution to find out what those procedures are.
Because JPMorgan Chase Bank, N.A. will actually hold the shares underlying your ADRs, you must rely on it to exercise the rights of a shareholder. The obligations of JPMorgan Chase Bank, N.A. are set out in an agreement among Honda, JPMorgan Chase Bank, N.A. and you, as an ADR holder. The agreement and the ADRs are generally governed by New York law.
The following is a summary of the agreement. Because it is a summary, it does not contain all the information that may be important to you. For more complete information, you should read the entire agreement and the form of ADR, each of which is included as an exhibit to the annual report to which this description is attached or incorporated by reference as an exhibit.
Fixing of the Record Date (Item 12.D.2.(b) of Form 20-F)
The Depositary may, after consultation with Honda if practicable, fix a record date (which, to the extent applicable, shall be as near as practicable to any corresponding record date set by Honda) for the determination of the holders who shall be responsible for the fee assessed by the Depositary for administration of the ADR program and for any expenses provided for in paragraph (7) of the Form of ADR included in the Deposit Agreement as well as for the determination of the holders who shall be entitled to receive any distribution on or in respect of Deposited Securities, to give instructions for the exercise of any voting rights, to receive any notice or to act in respect of other matters and only such holders shall be so entitled or obligated.
Voting deposited securities (Item 12.D.2.(b) and Item 12.D.2.(d) of Form 20-F)
As soon as practicable after receipt of notice of any meeting at which the holders of shares are entitled to vote, or of solicitation of consents or proxies from holders of shares or other Deposited Securities, the Depositary shall fix the ADR record date in accordance with the Deposit Agreement, provided that if the Depositary receives a written request from Honda in a timely manner promptly after the approval by the Board of Directors of the convocation of such meeting or the solicitation of such consents or proxies, or promptly after any other party authorized to do so has called such meeting or initiated the solicitation of such consents or proxies, the Depositary shall, at Hondas expense, distribute to holders a notice (the Voting Notice) stating (i) final information particular to such vote and meeting and any solicitation materials, (ii) that each holder on the record date set by the Depositary will, subject to any applicable provisions of Japanese law, be entitled to instruct the Depositary as to the exercise of the voting rights, if any, pertaining to the Deposited Securities represented by the ADSs evidenced by such holders ADRs and (iii) the manner in which such instructions may be given or deemed given, including instructions to give a discretionary proxy to a person designated by Honda. There is no guarantee that holders generally or any holder in particular will receive the notice described above or, to the extent any such notice is distributed, that such notice will be distributed or received with sufficient time to enable such holder to return any voting instructions to the Depositary in a timely manner.
Following actual receipt by the ADR department of the Depositary responsible for proxies and voting of holders instructions, the Depositary shall, in the manner and on or before the time established by the Depositary for such purpose, endeavor to vote or cause to be voted the Deposited Securities represented by the ADSs evidenced by such holders ADRs in accordance with such instructions insofar as practicable and permitted under
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the provisions of or governing Deposited Securities. The Depositary will not itself exercise any voting discretion in respect of any Deposited Securities. Under current Japanese law and Hondas Articles of Incorporation, voting rights can only be exercised with respect to units consisting of 100 Shares. Accordingly, the Depositary will only be able to endeavor to vote or cause to be voted such number of Deposited Securities that shall equal a multiple of 100 shares (or such other number as Hondas Articles of Incorporation may specify from time to time) and, as a result, if the Depositary receives voting instructions for such number of Deposited Securities (the Instructed Shares) that is not a multiple of the requisite number of shares, then the Depositary shall only endeavor to vote, or cause to be voted, such number of Instructed Shares that represents the highest applicable multiple of the requisite number of shares, taking into account a pro-ration of the voting instructions received from holders, and any remaining Instructed Shares shall not be voted.
To the extent that the Depositary (A) receives the Hondas written request pursuant to the Deposit Agreement in a timely manner as provided therein, (B) reasonably believes that it has been provided with notice of a meeting in sufficient time to ensure that the Voting Notice will be received by all holders and beneficial owners no less than 10 days prior to the date of the meeting and/or the cut-off date for the solicitation of consents, and (C) does not receive instructions on a particular agenda item from a holder in a timely manner, such holder shall be deemed, and the Depositary is instructed to deem such holder, to have instructed the Depositary to give a discretionary proxy for such agenda item(s) to a person designated by Honda to vote the Deposited Securities represented by the ADRs for which actual instructions were not so given by all such holders on such agenda item(s), provided that no such instruction shall be deemed given and no discretionary proxy shall be given unless (1) to the best of Hondas knowledge after reasonable inquiry, there is no substantial opposition existing with respect to such agenda item(s), and such agenda item(s), if approved, would not materially or adversely affect the rights of holders of shares, (2) Honda informs the Depositary in writing (and Honda agrees to provide the Depositary with such instruction promptly in writing) that (i) it wishes such proxy to be given with respect to such agenda item(s), (ii) to the best of Hondas knowledge after reasonable inquiry, there is no substantial opposition existing with respect to such agenda item(s), and such agenda item(s), if approved, would not materially or adversely affect the rights of holders of shares, and (3) the Depositary has obtained an opinion of counsel, in form and substance satisfactory to the Depositary, confirming that (i) the granting of such discretionary proxy does not subject the Depositary to any reporting obligations in Japan, (ii) the granting of such proxy will not result in a violation of the laws, rules, regulations or permits of Japan, (iii) the voting arrangement and deemed instruction as contemplated herein will be given effect under the laws, rules and regulations of Japan, and (iv) the granting of such discretionary proxy will not under any circumstances result in the shares represented by the ADRs being treated as assets of the Depositary under the laws, rules or regulations of Japan.
Notwithstanding anything contained in the Deposit Agreement or any ADR, the Depositary may, to the extent not prohibited by any law, rule or regulation or by the rules, regulations or requirements of the stock exchange on which the ADRs are listed, in lieu of distribution of the materials provided to the Depositary in connection with any meeting of or solicitation of consents or proxies from holders of Deposited Securities, distribute to the holders a notice that provides holders with or otherwise publicizes to holders instructions on how to retrieve such materials or receive such materials upon request (i.e., by reference to a website containing the materials for retrieval or a contact for requesting copies of the materials). Holders are strongly encouraged to forward their voting instructions as soon as possible. Voting instructions will not be deemed received until such time as the ADR department responsible for proxies and voting has received such instructions, notwithstanding that such instructions may have been physically received by the Depositary.
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Dividends and Other Distributions (Item 12.D.12.(c), Item 12.D.2(e) and Item 12.D.2.(f) of Form 20-F)
Subject to terms of the Deposit Agreement, to the extent practicable, the Depositary will distribute to each holder entitled thereto on the record date set by the Depositary therefor at such holders address shown on the ADR register, in proportion to the number of Deposited Securities (on which the following distributions on Deposited Securities are received by the Custodian):
| Cash. Any U.S. dollars available to the Depositary resulting from a cash dividend or other cash distribution or the net proceeds of sales of any other distribution or portion thereof authorized by the Deposit Agreement, on an averaged or other practicable basis, subject the terms of the Deposit Agreement; |
| Shares. (i) Additional ADRs evidencing whole ADSs representing any shares available to the Depositary resulting from a dividend or free distribution on Deposited Securities consisting of shares (a Share Distribution) and (ii) U.S. dollars available to it resulting from the net proceeds of sales of shares received in a Share Distribution, which shares would give rise to fractional ADSs if additional ADRs were issued therefor, as in the case of cash. |
| Rights. (i) Warrants or other instruments in the discretion of the Depositary representing rights to acquire additional ADRs in respect of any rights to subscribe for additional shares or rights of any nature available to the Depositary as a result of a distribution on Deposited Securities (Rights), to the extent that Honda timely furnishes to the Depositary evidence satisfactory to the Depositary that the Depositary may lawfully distribute the same (Honda has no obligation to so furnish such evidence), or (ii) to the extent Honda does not so furnish such evidence and sales of Rights are practicable, any U.S. dollars available to the Depositary from the net proceeds of sales of Rights as in the case of cash, or (iii) to the extent Honda does not so furnish such evidence and such sales cannot practicably be accomplished by reason of the nontransferability of the Rights, limited markets therefor, their short duration or otherwise, nothing (and any Rights may lapse). |
| Other distributions: (i) Securities or property available to the Depositary resulting from any distribution on Deposited Securities other than cash, Share Distributions and Rights (Other Distributions), by any means that the Depositary may deem equitable and practicable, or (ii) to the extent the Depositary deems distribution of such securities or property not to be equitable and practicable, any U.S. dollars available to the Depositary from the net proceeds of sales of Other Distributions as in the case of cash. |
Liability of Holder for Taxes (Item 12.D.2.(c) and Item 12.D.2.(i) of Form 20-F)
If any tax or other governmental charges (including any penalties and/ or interest) shall become payable by or on behalf of the Custodian or the Depositary with respect to an ADR, any Deposited Securities represented by the ADSs evidenced thereby or any distribution thereon, such tax or other governmental charge shall be paid by the holder thereof to the Depositary. The Depositary may refuse to effect any registration, registration of transfer, split-up or combination of any ADR or any withdrawal of such Deposited Securities until such payment is made. The Depositary may also deduct from any distributions on or in respect of Deposited Securities, or may sell by public or private sale for the account of the holder of any ADR any part or all of such Deposited Securities, and may apply such deduction or the proceeds of any such sale in payment of such tax or other governmental charge, the holder thereof remaining liable for any deficiency, and shall reduce the number of ADSs evidenced by such ADR to reflect any such sales of Shares.
Reports; Inspection of Transfer Books (Item 12.D.2.(d) and Item 12.D.2.(h) of Form 20-F)
The Depositary shall make available for inspection by Holders at the Depositarys Office, at the office of the Custodian, at any other designated transfer offices, on the website of the United States Securities and Exchange Commission (the Commission), or upon request from the Depositary, the Deposit Agreement, the provisions of
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or governing Deposited Securities and any written communications, including any proxy solicitation material, received from Honda which are both (a) received by the Custodian or the nominee of either as the holder of Deposited Securities and (b) made generally available to the holders of Common Stock or Deposited Securities by Honda. The Depositary will distribute copies of such communications to record holders when furnished by Honda.
The Depositary or its agent will keep, at a designated transfer office, a register for the registration, registration of transfer, combination and split-up of ADRs, which at all reasonable times will be open for inspection by holders and Honda for the purpose of communicating with holders in the interest of the business of Honda or a matter relating to the Deposit Agreement.
Changes Affecting Deposited Securities (Item 12.D.2.(f) of Form 20-F)
The Depositary may, in its discretion, and shall if reasonably requested by Honda, amend the ADRs or distribute additional or amended ADRs (with or without calling existing ADRs for exchange) or cash, securities or property on the record date set by the Depositary therefor to reflect any change in par value, split-up, consolidation, cancellation or other reclassification of Deposited Securities, any Share Distribution or Other Distribution not distributed to holders or any cash, securities or property available to the Depositary in respect of Deposited Securities from (and the Depositary is authorized under the Deposit Agreement to surrender any Deposited Securities to any person and, irrespective of whether such Deposited Securities are surrendered or otherwise cancelled by operation of law, rule, regulation or otherwise, to sell by public or private sale any property received in connection with) any recapitalization, reorganization, merger, consolidation, liquidation, receivership, bankruptcy or sale of all or substantially all the assets of Honda.
To the extent the Depositary does not so amend the ADRs or make a distribution to holders to reflect any of the foregoing, or the net proceeds thereof, whatever cash, securities or property results from any of the foregoing shall constitute Deposited Securities and each ADS evidenced by the ADRs shall automatically represent its pro rata interest in the Deposited Securities as then constituted.
Promptly upon the occurrence of any of the aforementioned changes affecting Deposited Securities, Honda shall notify the Depositary in writing of such occurrence and as soon as practicable after receipt of such notice from Honda, may instruct the Depositary to give notice thereof, at Hondas expense, to holders in accordance with the provisions hereof. Upon receipt of such instruction, the Depositary shall give notice to the holders in accordance with the terms thereof, as soon as reasonably practicable.
Amendment and Termination of Deposit Agreement (Item 12.D.2.(g) of Form 20-F)
The ADRs and the Deposit Agreement may be amended by Honda and the Depositary, provided that any amendment that imposes or increases any fees or charges on a per ADS basis (other than stock transfer or other taxes and other governmental charges, transfer or registration fees, SWIFT, cable, telex or facsimile transmission costs, delivery costs or other such expenses), or that shall otherwise prejudice any substantial existing right of holders or beneficial owners, shall become effective 30 days after notice of such amendment shall have been given to the holders. Every holder and beneficial owner at the time any amendment to the Deposit Agreement so becomes effective shall be deemed, by continuing to hold such ADR, to consent and agree to such amendment and to be bound by the Deposit Agreement as amended thereby. In no event shall any amendment impair the right of the holder of any ADR to surrender such ADR and receive the Deposited Securities represented thereby, except in order to comply with mandatory provisions of applicable law. Any amendments or supplements that (i) are reasonably necessary (as agreed by Honda and the Depositary) in order for (a) the ADSs to be registered on Form F-6 under the Securities Act of 1933 or (b) the ADSs or shares to be traded solely in electronic book-entry form and (ii) do not in either such case impose or increase any fees or charges to be borne by holders, shall be deemed not to prejudice any substantial rights of Holders or Beneficial Owners. Notwithstanding the foregoing, if any governmental body or regulatory body should adopt new laws, rules or regulations which would
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require amendment or supplement of the Deposit Agreement or the form of ADR to ensure compliance therewith, Honda and the Depositary may amend or supplement the Deposit Agreement and the form of ADR at any time in accordance with such changed laws, rules or regulations. Such amendment or supplement to the Deposit Agreement in such circumstances may become effective before a notice of such amendment or supplement is given to holders or within any other period of time as required for compliance. Notice of any amendment to the Deposit Agreement or form of ADRs shall not need to describe in detail the specific amendments effectuated thereby, and failure to describe the specific amendments in any such notice shall not render such notice invalid, provided, however, that, in each such case, the notice given to the holders identifies a means for holders and beneficial owners to retrieve or receive the text of such amendment (i.e., upon retrieval from the Commissions, the Depositarys or Hondas website or upon request from the Depositary).
The Depositary may, and shall at the written direction of Honda, terminate the Deposit Agreement and the ADRs by mailing notice of such termination to the holders at least 30 days prior to the date fixed in such notice for such termination; provided, however, if the Depositary shall have (i) resigned as Depositary under the Deposit Agreement, notice of such termination by the Depositary shall not be provided to holders unless a successor depositary shall not be operating hereunder within 60 days of the date of such resignation, or (ii) been removed as Depositary under the Deposit Agreement, notice of such termination by the Depositary shall not be provided to holders unless a successor depositary shall not be operating hereunder on the 90th day after Hondas notice of removal was first provided to the Depositary.
Notwithstanding anything to the contrary in the Deposit Agreement, the Depositary may terminate the Deposit Agreement without notice to Honda, but subject to giving 30 days notice to the holders, under the following circumstances: (i) in the event of Hondas bankruptcy or insolvency, (ii) if the shares cease to be listed on an internationally recognized stock exchange, (iii) if Honda effects (or will effect) a redemption of all or substantially all of the Deposited Securities, or a cash or share distribution representing a return of all or substantially all of the value of the Deposited Securities, or (iv) there occurs a merger, consolidation, sale of assets or other transaction as a result of which securities or other property are delivered in exchange for or in lieu of Deposited Securities. After the date so fixed for termination, the Depositary and its agents will perform no further acts under the Deposit Agreement and the ADRs, except to receive and hold (or sell) distributions on Deposited Securities and deliver Deposited Securities being withdrawn. As soon as practicable after the date so fixed for termination, the Depositary shall use its reasonable efforts to sell the Deposited Securities and shall thereafter (as long as it may lawfully do so) hold in an account (which may be a segregated or unsegregated account) the net proceeds of such sales, together with any other cash then held by it under the Deposit Agreement, without liability for interest, in trust for the pro rata benefit of the Holders of ADRs not theretofore surrendered. After making such sale, the Depositary shall be discharged from all obligations in respect of the Deposit Agreement and the ADRs, except to account for such net proceeds and other cash. After the date so fixed for termination, Honda shall be discharged from all obligations under the Deposit Agreement except for its obligations to the Depositary and its agents.
Surrender of ADRs and Withdrawal of Common Stock (Item 12.D.2.(i) of Form 20-F)
Subject to the terms of the Deposit Agreement, upon surrender of (a) a certificated ADR in a form satisfactory to the Depositary at the transfer office or (b) proper instructions and documentation in the case of a Direct Registration ADR, the holder of such ADR is entitled to delivery at, or to the extent in dematerialized form from, the Custodians office of the Deposited Securities at the time represented by the ADSs evidenced by such ADR. At the request, risk and expense of the holder, the Depositary may deliver such Deposited Securities at such other place as may have been requested by the Holder. Notwithstanding the foregoing, to the extent Japanese law or Hondas Articles of Incorporation limit the delivery of Deposited Securities in the Japanese market to a unit consisting of a specified number of Deposited Securities, cancellations of ADSs will only be permitted in a number that would allow for delivery of one or more multiples of such unit of Deposited Securities. Notwithstanding any other provision of the Deposit Agreement and subject to any limitations resulting from the immediately preceding sentence, the withdrawal of Deposited Securities may be restricted
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only for the reasons set forth in General Instruction I.A. (1) of Form F-6 (as such instructions may be amended from time to time) under the Securities Act of 1933.
Conditions to Execution and Delivery, Registration of Transfer, etc. of ADRs (Item 12.D.2.(i) of Form 20-F)
As a condition precedent to the execution and delivery, registration, registration of transfer, split-up or combination of any ADR, the delivery of any distribution in respect thereof or, subject to the terms of the Deposit Agreement, the withdrawal of any Deposited Securities, Honda, the Depositary, or any Custodian may require: (a) payment with respect thereto of (i) any Common Stock transfer or other tax or other governmental charge with respect thereto, (ii) any Common Stock transfer or registration fees for the registration of transfers of Common Stock or other Deposited Securities upon any applicable register and (iii) any charges of the Depositary upon delivery of ADRs; (b) the production of proof satisfactory to it of (i) the identity and genuineness of any signature and (ii) as to any other matter, including without limitation, information as to citizenship, residence, exchange control approval, beneficial or other ownership of, or interest in, any securities, compliance with applicable law, regulations, provisions of or governing Deposited Securities and terms of the Deposit Agreement and the ADR, as it may deem necessary or proper; and (c) compliance with such reasonable regulations, if any, as the Depositary and Honda may establish consistent with the provisions of the Deposit Agreement.
Suspension of Delivery, Transfer, etc. (Item 12.D.2.(i) of Form 20-F)
The issuance of ADRs, the acceptance of deposits of shares, the registration, registration of transfer, split-up or combination of ADRs or, subject to the terms of the Deposit Agreement, the withdrawal of Deposited Securities may be suspended, generally or in particular instances, when the ADR Register or any register for Deposited Securities is closed or when any such action is deemed advisable by the Depositary.
Transfers, Split-ups, Combinations of ADRs (Item 12.D.2.(i) of Form 20-F)
An ADR is transferable on the books of the Depositary upon surrender of such ADR to the Depositary at such offices as it may designate properly endorsed or accompanied by a properly executed and duly stamped instrument of transfer, and upon such transfer the Depositary shall execute and deliver an ADR to or upon the order of the person entitled thereto, as provided in the Deposit Agreement. An ADR may be split into other ADRs or combined with other ADRs into one ADR. The Depositary may close the register at any time or from time to time, when deemed expedient by it.
Liability and Obligations of Honda, the Depositary and the Custodian (Item 12.D.2.(j) of Form 20-F)
Neither the Depositary nor Honda nor any of their respective directors, officers, employees, agents and affiliates and each of them shall incur any liability to any holder of an ADR, if by reason of any provision of any present or future law or regulation of Japan or any other country or jurisdiction, or of any action of any other governmental authority or any securities exchange or market or automated quotation system, or in the case of the Depositary or the Custodian, by reason of any provision, present or future, of the Articles of Incorporation or the Share Handling Regulations of Honda, or by reason of any act of God or war or other circumstance beyond its control, the Depositary, Honda or each of their respective directors, officers, employees, agents and affiliates and each of them shall be prevented or forbidden from, or subjected to any civil or criminal penalty on account of, doing any act which the Deposit Agreement provides shall be done; nor shall the Depositary, Honda or each of their respective directors, officers, employees, agents and affiliates and each of them incur any liability to any holder hereof by reason of any non-performance or delay, caused as aforesaid, in performance of any act which it is so provided shall or may be done, or by reason of any exercise of, or failure to exercise any discretion provided for in the Deposit Agreement.
Neither the Depositary, nor Honda nor each of their respective directors, officers, employees, agents and affiliates and each of them assumes any obligation nor shall any of them be subject to any liability under the
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Deposit Agreement to holders of ADRs, except that each agrees to perform obligations and duties specifically set forth in the Deposit Agreement without gross negligence or willful misconduct and the Depositary shall not be a fiduciary or have any fiduciary duty to holders. Neither the Depositary nor its agent shall be under any obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited Securities or in respect of the ADRs. Neither Honda not its agent shall be under any obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited Securities or in respect of the ADRs, which in its opinion may involve it in expense or liability, unless satisfactory indemnity be furnished as often as may be required.
Neither the Depositary, nor Honda shall be liable for any action or non-action by it in reliance upon the advice of or information from legal counsel, accountants, any person presenting Common Stock for deposit, any holder of an ADR, or any other person believed by it to be competent to give such advice or information. Neither the Depositary nor the Custodian will be responsible for any failure to carry out any instructions to vote any of the Deposited Securities, or for the manner or effect of any such vote, made either with or without request as long as any such action or non-action is in good faith. Honda will indemnify the Depositary, the Custodian and their respective directors, officers, employees, agents and affiliates against any loss, liability or expense which may arise out of acts performed, in accordance with the provisions of the Deposit Agreement and of the ADRs (i) by the Depositary, the Custodian, or any of their respective directors, officers, employees, agents and affiliates, except for any liability arising out of its own negligence or willful misconduct or (ii) by Honda or any of its directors, officers, employees, agents and affiliates. The Depositary will indemnify Honda against any direct loss, liability or expenses which may arise out of acts performed or omitted by the Depositary or its agents (including the Custodian) due to negligence or willful misconduct. The Depositary and the Custodian may own and deal in any class of securities of Honda and its affiliates and in ADRs.
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Exhibit 12.1
CERTIFICATION
I, Toshihiro Mibe, certify that:
1. | I have reviewed this Annual Report on Form 20-F of Honda Motor Co., Ltd.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report; |
4. | The companys other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. |
(c) | Evaluated the effectiveness of the companys disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) | Disclosed in this report any change in the companys internal control over financial reporting that occurred during the period covered by the Annual Report that has materially affected, or is reasonably likely to materially affect, the companys internal control over financial reporting; and |
5. | The companys other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the companys auditors and the audit committee of the companys board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the companys ability to record, process, summarize and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the companys internal control over financial reporting. |
Date: June 22, 2022
By: | /s/ Toshihiro Mibe | |
Name: | Toshihiro Mibe | |
Title: | Director, President and Representative Executive Officer, Chief Executive Officer Honda Motor Co., Ltd. |
Exhibit 12.2
CERTIFICATION
I, Kohei Takeuchi, certify that:
1. | I have reviewed this Annual Report on Form 20-F of Honda Motor Co., Ltd.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report; |
4. | The companys other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. |
(c) | Evaluated the effectiveness of the companys disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) | Disclosed in this report any change in the companys internal control over financial reporting that occurred during the period covered by the Annual Report that has materially affected, or is reasonably likely to materially affect, the companys internal control over financial reporting; and |
5. | The companys other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the companys auditors and the audit committee of the companys board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the companys ability to record, process, summarize and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the companys internal control over financial reporting. |
Date: June 22, 2022
By: | /s/ Kohei Takeuchi | |
Name: | Kohei Takeuchi | |
Title: | Director, Executive Vice President and Representative Executive Officer Chief Financial Officer Honda Motor Co., Ltd. |
Exhibit 13.1
CERTIFICATION
Pursuant to 18 U.S.C. § 1350, the undersigned officer of Honda Motor Co., Ltd. (the Company), hereby certifies, to such officers knowledge, that the Companys Annual Report on Form 20-F for the year ended March 31, 2022 (the Report) fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Dated: June 22, 2022
By: | /s/ Toshihiro Mibe | |
Name: | Toshihiro Mibe | |
Title: | Director, President and Representative Executive Officer Chief Executive Officer Honda Motor Co., Ltd. |
Exhibit 13.2
CERTIFICATION
Pursuant to 18 U.S.C. § 1350, the undersigned officer of Honda Motor Co., Ltd. (the Company), hereby certifies, to such officers knowledge, that the Companys Annual Report on Form 20-F for the year ended March 31, 2022 (the Report) fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Dated: June 22, 2022
By: | /s/ Kohei Takeuchi | |
Name: | Kohei Takeuchi | |
Title: | Director, Executive Vice President and Representative Executive Officer Chief Financial Officer Honda Motor Co., Ltd. |
Exhibit 15.1
Consent of Independent Registered Public Accounting Firm
We consent to the incorporation by reference in the registration statement (No. 333-263008) on Form F-3 of our reports dated June 22, 2022, with respect to the consolidated financial statements of Honda Motor Co., Ltd. and subsidiaries, and the effectiveness of internal control over financial reporting.
/s/ KPMG AZSA LLC
Tokyo, Japan
June 22, 2022
Consolidated Statements of Income - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Profit or loss [abstract] | |||
Sales revenue | ¥ 14,552,696 | ¥ 13,170,519 | ¥ 14,931,009 |
Operating costs and expenses: | |||
Cost of sales | (11,567,923) | (10,439,689) | (11,851,659) |
Selling, general and administrative | (1,326,485) | (1,331,728) | (1,641,590) |
Research and development | (787,056) | (738,894) | (804,123) |
Total operating costs and expenses | (13,681,464) | (12,510,311) | (14,297,372) |
Operating profit | 871,232 | 660,208 | 633,637 |
Share of profit of investments accounted for using the equity method | 202,512 | 272,734 | 164,203 |
Finance income and finance costs: | |||
Interest income | 25,627 | 19,805 | 49,412 |
Interest expense | (16,867) | (13,877) | (24,689) |
Other, net | (12,314) | (24,817) | (32,645) |
Total finance income and finance costs | (3,554) | (18,889) | (7,922) |
Profit before income taxes | 1,070,190 | 914,053 | 789,918 |
Income tax expense | (309,489) | (218,609) | (279,986) |
Profit for the year | 760,701 | 695,444 | 509,932 |
Profit for the year attributable to: | |||
Owners of the parent | 707,067 | 657,425 | 455,746 |
Non-controlling interests | ¥ 53,634 | ¥ 38,019 | ¥ 54,186 |
Earnings per share attributable to owners of the parent | |||
Basic and diluted | ¥ 411.09 | ¥ 380.75 | ¥ 260.13 |
Consolidated Statements of Changes in Equity - JPY (¥) ¥ in Millions |
Total |
Common stock [Member] |
Capital surplus [Member] |
Treasury stock [member] |
Retained earnings [Member] |
Other components of equity [member] |
Equity attributable to owners of the parent [Member] |
Non-controlling interests [Member] |
---|---|---|---|---|---|---|---|---|
Beginning balance at Mar. 31, 2019 | ¥ 8,565,790 | ¥ 86,067 | ¥ 171,460 | ¥ (177,827) | ¥ 7,973,637 | ¥ 214,383 | ¥ 8,267,720 | ¥ 298,070 |
Comprehensive income for the year | ||||||||
Profit for the year | 509,932 | 455,746 | 455,746 | 54,186 | ||||
Other comprehensive income, net of tax | (451,209) | (431,459) | (431,459) | (19,750) | ||||
Total comprehensive income for the year | 58,723 | 455,746 | (431,459) | 24,287 | 34,436 | |||
Reclassification to retained earnings | (102,437) | 102,437 | ||||||
Transactions with owners and other | ||||||||
Dividends paid | (252,488) | (196,795) | (196,795) | (55,693) | ||||
Purchases of treasury stock | (96,284) | (96,284) | (96,284) | |||||
Disposal of treasury stock | 171 | 171 | 171 | |||||
Share-based payment transactions | 363 | 363 | 363 | |||||
Equity transactions and others | (3,049) | (3,049) | ||||||
Total transactions with owners and other | (351,287) | 363 | (96,113) | (196,795) | (292,545) | (58,742) | ||
Other changes | 12,797 | 12,797 | 12,797 | |||||
Ending balance at Mar. 31, 2020 | 8,286,023 | 86,067 | 171,823 | (273,940) | 8,142,948 | (114,639) | 8,012,259 | 273,764 |
Comprehensive income for the year | ||||||||
Profit for the year | 695,444 | 657,425 | 657,425 | 38,019 | ||||
Other comprehensive income, net of tax | 577,179 | 557,332 | 557,332 | 19,847 | ||||
Total comprehensive income for the year | 1,272,623 | 657,425 | 557,332 | 1,214,757 | 57,866 | |||
Reclassification to retained earnings | 245,983 | (245,983) | ||||||
Transactions with owners and other | ||||||||
Dividends paid | (188,438) | (145,090) | (145,090) | (43,348) | ||||
Purchases of treasury stock | (6) | (6) | (6) | |||||
Disposal of treasury stock | 160 | 160 | 160 | |||||
Share-based payment transactions | 226 | 226 | 226 | |||||
Equity transactions and others | 2,251 | 2,251 | ||||||
Total transactions with owners and other | (185,807) | 226 | 154 | (145,090) | (144,710) | (41,097) | ||
Ending balance at Mar. 31, 2021 | 9,372,839 | 86,067 | 172,049 | (273,786) | 8,901,266 | 196,710 | 9,082,306 | 290,533 |
Comprehensive income for the year | ||||||||
Profit for the year | 760,701 | 707,067 | 707,067 | 53,634 | ||||
Other comprehensive income, net of tax | 934,952 | 912,930 | 912,930 | 22,022 | ||||
Total comprehensive income for the year | 1,695,653 | 707,067 | 912,930 | 1,619,997 | 75,656 | |||
Reclassification to retained earnings | 119,202 | (119,202) | ||||||
Transactions with owners and other | ||||||||
Dividends paid | (233,533) | (188,402) | (188,402) | (45,131) | ||||
Purchases of treasury stock | (62,758) | (62,758) | (62,758) | |||||
Disposal of treasury stock | 578 | 578 | 578 | |||||
Share-based payment transactions | (233) | (233) | (233) | |||||
Equity transactions and others | 0 | 13,679 | 7,657 | 21,336 | (21,336) | |||
Total transactions with owners and other | (295,946) | 13,446 | (54,523) | (188,402) | (229,479) | (66,467) | ||
Ending balance at Mar. 31, 2022 | ¥ 10,772,546 | ¥ 86,067 | ¥ 185,495 | ¥ (328,309) | ¥ 9,539,133 | ¥ 990,438 | ¥ 10,472,824 | ¥ 299,722 |
Reporting Entity |
12 Months Ended |
---|---|
Mar. 31, 2022 | |
Text block [Abstract] | |
Reporting Entity | (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, Italy, France, China, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Argentina and Brazil. |
Basis of Preparation |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Text block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||
Basis of Preparation | (2) Basis of Preparation (a) Compliance with International Financial Reporting Standards The Company’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). The term “IFRS” also includes International Accounting Standards (IASs) and the related interpretations of the interpretations committees (SIC and IFRIC). (b) Basis of Measurement The consolidated financial statements have been prepared on the historical cost basis, except for certain assets and liabilities separately stated in note 3. (c) Functional Currency and Presentation Currency The consolidated 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. (d) New Accounting Standards and Interpretations Not Yet Adopted None of new or amended standards and interpretations that have been issued as of the date of approval of the consolidated financial statements but are not effective and have not yet been adopted by Honda as of March 31, 2022 have a significant effect on the consolidated financial statements. (e) Use of Estimates and Judgments The preparation of consolidated financial statements in accordance with IFRS 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. Regarding the spread of COVID-19, there is no significant impact on Honda’s consolidated financial results for the fiscal year ended March 31, 2022 and there is no significant impact on accounting estimates. As the spread of COVID-19 may have more adverse impact on market trend and economic conditions, actual results in any future periods could differ materially from the estimates. Information about judgments that have been made in the process of applying accounting policies and that have significant effects on the amounts reported in the consolidated financial statements is as follows:
Information about accounting estimates and assumptions that have significant effects on the amounts reported in the consolidated financial statements is as follows:
|
Significant Accounting Policies |
12 Months Ended | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2022 | ||||||||||||||||||
Text block [Abstract] | ||||||||||||||||||
Significant Accounting Policies | (3) Significant Accounting Policies (a) Basis of Consolidation The consolidated financial statements include the accounts of the Company, its subsidiaries which are directly or indirectly controlled by the Company, and those structured entities which are controlled by Honda. All significant intercompany balances and transactions have been eliminated in consolidation. Honda controls an entity when Honda is exposed or has rights to variable returns from involvement with the entity, and has the ability to affect those returns by using its power, which is the current ability to direct the relevant activities, over the entity. To determine whether or not Honda controls an entity, status of voting rights or similar rights, contractual agreements and other specific factors are taken into consideration. Structured entities are entities designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. Honda consolidates structured entities over which it has control, by comprehensively determining whether its control over the entity exists based on any contractual arrangements with such entity as well as the percentage of its voting or similar rights in the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date when the control is obtained until the date when the control is lost. The financial statements of subsidiaries have been adjusted in order to ensure consistency with the accounting policies adopted by the Company as necessary. Changes in the Company’s ownership interests in subsidiaries that do not result in a loss of control are accounted for as equity transactions. When control over a subsidiary is lost, the investment retained after the loss of control is remeasured at fair value as of the date of the loss of control, and any gain or loss on such remeasurement and disposal of the interest sold is recognized in profit or loss. (b) Investments in Affiliates and Joint Ventures (Investments Accounted for Using the Equity Method) Affiliates are entities over which Honda has a significant influence over the decisions on financial and operating policies, but does not have control or joint control. Joint ventures are joint arrangements whereby the parties including Honda that have joint control have rights to the net assets of the arrangement. Joint arrangements are arrangements of which two or more parties have joint control, and joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Investments in affiliates and joint ventures are accounted for using the equity method from the date when the investees are determined to be affiliates or joint ventures until the date when they ceased to be classified as affiliates or joint ventures. Under the equity method, the investment is initially recognized at cost, and the carrying amount is subsequently increased or decreased, to recognize Honda’s share of profit or loss and other comprehensive income of the affiliate or the joint venture after the date of initial recognition. The financial statements of affiliates and joint ventures have been adjusted in order to ensure consistency with the accounting policies adopted by the Company in applying the equity method, as necessary. The use of the equity method is discontinued from the date when the investees are determined to be no longer affiliates or joint ventures. The investment retained after cessation of the equity method is remeasured at fair value, and any gain or loss on such remeasurement and disposal of the investment is recognized in profit or loss. (c) Foreign Currency Translations 1) Foreign currency transactions Foreign currency transactions are translated into the respective functional currencies at the exchange rates prevailing when such transactions occur. All foreign currency receivables and payables are translated into the respective functional currencies at the applicable exchange rates at the end of the reporting period. Gains or losses on exchange differences arising on settlement of foreign currency receivables and payables or on their translations at the end of the reporting date are recognized in profit or loss and they are included in finance income and finance costs-other, net in the consolidated statements of income. 2) Foreign operations All assets and liabilities of foreign subsidiaries, affiliates and joint ventures (collectively “foreign operations”), which use a functional currency other than Japanese yen, are translated into Japanese yen at the exchange rates at the end of the reporting period. All revenues and expenses of foreign operations are translated into Japanese yen at the average exchange rate for the period except when a functional currency is the currency of a hyperinflationary economy. Exchange differences arising from translation are recognized in other comprehensive income and accumulated in other components of equity in the consolidated statements of financial position. When a foreign operation is disposed of, and control, significant influence or joint control over the foreign operation is lost, the cumulative amount of exchange differences relating to the foreign operation is reclassified from equity to profit or loss. (d) Financial Instruments A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity security of another entity. When Honda becomes a party to the contractual provision of a financial instrument, the financial instrument is recognized either as a financial asset or as a financial liability. When Honda purchases or sells a financial asset, the financial asset is recognized or derecognized at the trade date. 1) Non-derivative financial assets Honda classifies financial assets other than derivatives into “financial assets measured at amortized cost”, “financial assets measured at fair value through other comprehensive income” or “financial assets measured at fair value through profit or loss”. Honda determines the classification of financial assets upon initial recognition. Financial assets are derecognized when the contractual rights to cash flows from the financial assets expire, or when the contractual rights to receive the cash flows from the financial assets are transferred and all risks and rewards of ownership of the financial assets are substantially transferred. Financial assets measured at amortized cost A financial asset is classified into financial assets measured at amortized cost when the asset is held within a business model whose objective is to hold the asset in order to collect the contractual cash flows, and the contractual term of the financial asset gives rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets measured at amortized cost except trade receivables arising from contracts with customers are initially measured at their fair value and trade receivables arising from contracts with customers are initially measured at their transaction price. Financial assets measured at amortized cost are subsequently measured at amortized cost using the effective interest method. Financial assets measured at fair value A financial asset other than a financial asset measured at amortized cost is classified into financial assets measured at fair value. The financial assets measured at fair value are further classified into the following categories: Financial assets measured at fair value through other comprehensive income A debt security is classified into financial assets measured at fair value through other comprehensive income when the asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The debt securities are initially measured at their fair value, and subsequent changes in fair value are recognized in other comprehensive income except for impairment gain or loss and foreign exchange gain or loss. When the debt securities are derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss. Honda elects to designate investments in equity securities such as shares, held for maintaining and strengthening the trade relationship as financial assets measured at fair value through other comprehensive income. Equity securities designated as financial assets measured at fair value through other comprehensive income are initially measured at their fair value, and subsequent changes in fair value of the investment are recognized in other comprehensive income. However, dividends from the equity securities are principally recognized in profit or loss. When the equity securities are derecognized, the cumulative gain or loss previously recognized in other comprehensive income is directly reclassified to retained earnings. Financial assets measured at fair value through profit or loss Financial assets measured at fair value other than financial assets measured at fair value through other comprehensive income are classified into financial assets measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are initially measured at their fair value, and subsequent changes in fair value are recognized in profit or loss. (Cash and cash equivalents) Cash and cash equivalents consist of cash on hand, demand deposits, and short-term highly liquid investments that are readily convertible to known amounts of cash and are subject to insignificant risk of changes in value. Honda includes all highly liquid debt instruments with original maturities of three months or less in cash equivalents. 2) Non-derivative financial liabilities Financial liabilities other than derivatives are initially measured at their fair value, and are subsequently measured at amortized cost using the effective interest method. Financial liabilities are derecognized, when the obligations specified in the contract are discharged, canceled or expire. 3) Derivatives Honda has entered into foreign exchange and interest rate agreements to manage currency and interest rate exposures. These agreements include foreign currency forward exchange contracts, currency option contracts, currency swap agreements and interest rate swap agreements. All these derivatives are initially recognized as assets or liabilities and measured at fair value, when Honda becomes a party to the contractual provision of the derivatives. Subsequent changes in fair value of derivatives are recognized in profit or loss in the period of the changes. Honda has not held any derivatives designated as hedging instruments for the years ended March 31, 2020, 2021 and 2022. 4) Offsetting of financial assets and financial liabilities Financial assets and financial liabilities are offset and the net amount is presented in the consolidated statements of financial position, only when Honda currently has a legally enforceable right to offset the recognized amounts, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. (e) Inventories Inventories are measured at the lower of cost and net realizable value. The cost of inventories includes purchase costs and conversion costs, and it is determined principally by using the first-in first-out method. Conversion cost includes an appropriate share of production overheads on the normal operation capacity. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. (f) Equipment on Operating Leases Equipment on operating leases is measured based on the cost model and carried at its cost less accumulated depreciation and impairment losses. A vehicle subject to operating lease is initially measured at its cost. Depreciation of equipment on operating leases is calculated on the straight-line method over the lease term. The depreciable amount is the cost of the vehicle less its residual value which is estimated by using the estimate of future used vehicle value, taking into consideration economic conditions, external market information on new and used vehicles, historical trends, and recent auction values. (g) Property, Plant and Equipment Property, plant and equipment is measured based on the cost model and carried at its cost less accumulated depreciation and impairment losses. Property, plant and equipment is initially measured at its cost. Subsequent expenditures on an item of property, plant and equipment acquired, are recognized in the carrying amount of the item, only when it is probable that the expenditure will generate a future economic benefit. Depreciation of property, plant and equipment, except for land that is not subject to depreciation, is calculated on the straight-line method over the estimated useful life. The depreciable amount is the cost of the asset less the respective estimated residual values. The estimated useful lives used in calculating depreciation of property, plant and equipment are mainly as follows:
The depreciation method, useful lives and residual values of property, plant and equipment are reviewed annually at each fiscal year end, and adjusted prospectively, if appropriate. Property, plant and equipment in the consolidated statements of financial position include right-of-use right-of-use (h) Intangible Assets Intangible assets are measured based on the cost model and carried at their cost less accumulated amortization and impairment losses. (Research and development) Development expenditure for a product is capitalized only when there is a technical and commercial feasibility of completing the development, Honda has intention, ability and sufficient resources to use the outcome of the development, it is probable that the outcome will generate a future economic benefit, and the cost can be measured reliably. Capitalized development cost is measured at the sum of expenditures for development incurred between when the foregoing conditions for capitalization are initially met and when the development is completed, and includes all directly attributable costs to the development process. Capitalized development cost is amortized using the straight-line method over the expected product life cycle of the developed product ranging mainly from 2 to 6 years. Expenditures on research and other development expenditures which do not meet the foregoing conditions are expensed as incurred. (Other intangible asset) Other intangible assets are initially measured at cost and principally amortized using the straight-line method over their estimated useful lives. Other intangible assets are mainly comprised of software for internal use whose estimated useful lives range from 3 to 5 years. The amortization method and useful lives of intangible assets are reviewed annually at each fiscal year end, and adjusted prospectively, if appropriate. (i) Lease At inception of a contract, Honda assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. When Honda has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use and the right to direct the use of the identified asset, the contract conveys the right to control the use of the identified asset. 1) Lease as a lessee A right-of-use right-of-use non-lease components, Honda has elected not to separate non-lease components and account for the lease and non-lease components as a single lease component. The right-of-use right-of-use The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, Honda’s incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise mainly the fixed payments (including the lease payments in an optional renewal period if Honda is reasonably certain to exercise the extension option) and the penalties for termination of a lease unless Honda is reasonably certain not to terminate early. After the initial recognition, the lease liability is measured by increasing the carrying amount to reflect interest that produces a constant periodic rate of interest on the remaining balance of the lease liability and reducing the carrying amount to reflect the lease payments. The lease liability is remeasured if Honda changes its assessment of whether it will exercise an extension or termination option. When the lease liability is remeasured, the amount of the remeasurement of the lease liability is recognized as an adjustment to the right-of-use asset. However, if the carrying amount of the right-of-use asset is reduced to zero and there is a further reduction in the measurement of the lease liability, any remaining amount of the remeasurement is recognized in profit or loss. 2) Lease as a lessor For a contract that is, or contains a lease, the lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset and the lease other than finance lease is classified as an operating lease. Honda assesses the lease classification of a sub-lease with reference to the right-of-use The finance subsidiaries of the Company engage in the business of leasing vehicles as a lessor. A receivable from customer held under a finance lease is initially recognized at the amount of net investment in the lease which is the gross investment in the lease discounted at the interest rate implicit in the lease, and included in receivables from financial services in the consolidated statements of financial position. Vehicles subject to operating leases are presented as equipment on operating leases in the consolidated statements of financial position. If a contract contains lease and non-lease components, Honda applies IFRS 15 to allocate the consideration in the contract. (j) Impairment 1) Financial assets measured at amortized cost and debt securities classified into financial assets measured at fair value through other comprehensive income The allowance for impairment losses of financial assets measured at amortized cost other than trade receivables and debt securities classified into financial assets measured at fair value through other comprehensive income is measured at amounts according to the three-stage expected credit loss (ECL) model:
The allowance for impairment losses of trade receivables is continuously measured at amounts equal to lifetime ECL. Lifetime ECL represents ECL that results from all possible default events over the expected life of a financial asset. 12-month ECL is the portion of lifetime ECL that results from default events that are possible within 12 months after the reporting date. ECL is a probability-weighted estimate of the difference between the contractual cash flows and the cash flows that the entity expects to receive, discounted at the original effective interest rates. Receivables from financial services – Allowance for credit losses The allowance for credit losses is management’s estimate of expected credit loss on receivables from financial services. To determine whether credit risk has increased significantly, consumer finance receivables are assessed both individually and collectively. Individual assessments are based on delinquencies. Consumer finance receivables 30 days or greater past due have historically experienced increased default rates and therefore are considered to have a significant increase in credit risk. Collective assessments are performed for groups of consumer finance receivables with shared risk characteristics such as the period of initial recognition, collateral type, original term, and credit score considering relative changes in expected default rates since initial recognition. Dealer finance receivables are assessed at the individual dealership level to determine whether credit risk has increased significantly considering payment performance and other factors such as changes in the financial condition of the dealership and compliance with debt covenants. Our definition of default on receivables from financial services varies depending on internal risk management practices of each of our finance subsidiaries. Our most significant finance subsidiary located in the United States considers delinquencies of 60 days past due to be in default. Collection efforts on consumer finance receivables are escalated after becoming 60 days past due including repossession of the underlying vehicles if it has been determined that the borrower is unable to perform on their obligations. Defaulted consumer finance receivables are considered to be credit-impaired. Dealer finance receivables are considered to be credit-impaired when there is evidence we will be unable to collect all amounts due in accordance with the original contractual terms including significant financial difficulty of the dealership, a breach of contract, such as a default or delinquency, or bankruptcy. At the finance subsidiary in the United States, the estimated uncollectible portion of consumer finance receivables are written-off at 120 days past due or upon repossession of the underlying vehicle. Although various statutory regulations limit the length of time and circumstances when enforcement activities can be taken, in general, the outstanding contractual balances continue to be subject to enforcement activities for several years after write-offs. The portion of outstanding contractual balances that is estimated to be uncollectible reflects our expectations of collections from enforcement activities. Dealer finance receivables are written-off when there is no reasonable expectation of recovery. At the finance subsidiary in the United States, ECL of consumer finance receivables is measured for groups of financial assets with shared risk characteristics by reflecting historical results, current conditions and forward-looking factors such as unemployment rates, used vehicles prices, and consumer debt service burdens. 2) Non-financial assets and investments accounted for using the equity method At the end of the reporting period, the carrying amount of non-financial assets other than inventories and deferred tax assets (which are comprised mainly of equipment on operating leases, property, plant and equipment, and intangible assets) is assessed to determine whether or not there is any indication of impairment. If there is such an indication, the recoverable amount of such asset is estimated and compared with the carrying amount of the asset, as test of impairment. For investments accounted for using the equity method, the entire carrying amount of each investment in affiliates and joint ventures is tested for impairment as a single asset, when there is objective evidence that the investments accounted for using the equity method may be impaired. The recoverable amount of an individual asset or a cash-generating unit is the higher of fair value less costs to sell and value in use. Value in use is determined as the present value of future cash flows expected to be derived from an asset or a cash-generating unit. A cash-generating unit is determined as the smallest identifiable group of assets that generate cash inflows which are largely independent of cash inflows from other assets or a group of assets. When it is not possible to estimate the recoverable amount of the individual asset, the recoverable amount of the cash-generating unit to which the asset belongs is estimated. When the carrying amount of an asset or a cash-generating unit exceeds the recoverable amount, the carrying amount is reduced to the recoverable amount and an impairment loss is recognized in profit or loss. An impairment loss for a cash-generating unit is allocated to the assets on the basis of the relative carrying amount of each asset in the unit. An impairment loss recognized for an asset or a cash-generating unit in prior period is reversed, if there is any indication that the impairment loss may have decreased or may no longer exist, and when the recoverable amount of the asset exceeds the carrying amount. If this is the case, the carrying amount of the asset is increased to its recoverable amount, but the increased carrying amount does not exceed the carrying amount (net of depreciation or amortization) calculated on the basis that no impairment loss had occurred in the prior period. (k) Provisions Provisions are recognized when Honda has present legal or constructive obligation as a result of past events, 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. Provisions are measured based on the best estimate of expenditure required to settle the present obligation at the end of the reporting period. Where the effect of the time value of money is material, a provision is measured at the present value of the expenditures required to settle the obligation. In calculating the present value, a pre-tax rate that reflects current market assessment of the time value of money and the risks specific to the liability is used as the discount rate. (l) Employee Benefits 1) Short-term employee benefits For short-term employee benefits including salaries, bonuses and paid annual leave, when the employees render related services, the amounts expected to be paid in exchange for those services are recognized as expenses. 2) Post-employment benefits Honda has various post-employment benefit plans including defined benefit plans and defined contribution plans. Defined benefit plans For defined benefit plans, the present value of defined benefit obligations less the fair value of plan assets is recognized as either liability or asset in the consolidated statements of financial position. The present value of defined benefit obligations and service cost are principally determined for each plan using the projected unit credit method. The discount rate is determined by reference to market yields at the end of the reporting period on high quality corporate bonds that is consistent with the currency and estimated term of the post-employment benefit obligation. Net interest on the net defined benefit liability (asset) for the reporting period is determined by multiplying the net defined benefit liability (asset) by the discount rate. Past service cost defined as the change in the present value of the defined benefit obligation resulting from a plan amendment or curtailment is recognized in profit or loss upon occurrence of the plan amendment or curtailment. Honda recognizes the difference arising from remeasurement of present value of the defined benefit obligations and the fair value of the plan assets in other comprehensive income when it is incurred, and reclassifies it immediately to retained earnings. Defined contribution plans For defined contribution plans, when the employees render related services, the contribution payables to defined contribution plan are recognized as expenses. (m) Equity 1) Common share Common share issued by the Company is classified as equity, and the proceeds from issuance of common share are included in common stock and capital surplus. 2) Treasury stock Treasury stock acquired by Honda is recognized at cost and deducted from equity. When treasury stock is sold, the consideration received is recognized as equity with the difference between the carrying amount and the consideration received included in capital surplus. (n) Revenue Recognition 1) Sale of products Sales of products are reported by Motorcycle business, Automobile business, Life creation and other businesses. For details of the information on each business, see note 4. Honda recognizes revenue when control over products is transferred to customers. This transfer generally corresponds to the date of delivery of products to customers. Revenue is measured based on consideration specified in a contract with customer and excludes amounts collected on behalf of third parties. The total consideration in the contract is allocated to all products and services based on their stand-alone selling prices. The stand-alone selling prices are determined with reference to the selling prices of similar products or services and other reasonably available information. Honda provides dealer incentives, which generally represent discounts provided from Honda to the dealer. Honda also provides incentive programs generally in the form of below-market interest rate loans or lease programs for the retail customers to enhance dealer’s sales activities. The amount incurred for these programs is calculated based on the difference between the interest or lease rate offered to retail customers and the market-based interest or lease rate. These incentives are considered variable consideration when determining the transaction price and they are deducted from sales revenue recognized when products are sold to the dealers. Sales revenue is recognized only to the extent that it is highly probable that a significant reversal will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Customers usually pay consideration for sales of products within 30 days from the transfers of control over the products to customers. In addition, product sales contracts with customers include warranty clauses to guarantee that the products comply with agreed-upon specifications and Honda recognizes provisions for product warranties to meet these guarantees. For more information on product warranties, see note 17. 2) Rendering of financial services Interest income from receivables from financial services is recognized using the effective interest method. Finance receivable origination fees and certain direct origination costs are included in the calculation of the effective interest rate, and the net fee or cost is amortized using the effective interest method over the contractual term of the finance receivables. The finance subsidiaries of the Company offer financial services that contain a lease. Interest income from receivables held under a finance lease is recognized using the effective interest method. When Honda is the manufacturer or dealer lessor, sales revenue and the corresponding cost for a portion identified as sale of products is recognized in profit or loss in accordance with the policy on revenue recognition for sale of products. Revenue from operating leases is recognized on a straight-line basis over the term of the lease. (o) Income Taxes Income tax expenses are presented as the aggregate amount of current taxes and deferred taxes. Current taxes and deferred taxes are recognized in profit or loss, except for the tax arising from a transaction which is recognized either in other comprehensive income or directly in equity. Current taxes are measured at the amount expected to be paid to (or recovered from) the taxation authorities in respect of the taxable profit (or tax loss) for the reporting period, using the tax rates and tax laws enacted or substantively enacted at the end of the reporting period. Deferred tax assets and liabilities are recognized for future tax consequences attributable to temporary differences between the carrying amount of assets or liabilities in the consolidated statements of financial position and the tax base of the assets or liabilities and carryforward of unused tax losses and tax credits. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, unused tax losses, and unused tax credits can be utilized. Deferred tax liabilities for taxable temporary differences related to investments in subsidiaries and affiliates, and interest in joint ventures are not recognized to the extent that Honda is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future. Deferred tax assets for deductible temporary differences arising from investments in subsidiaries and affiliates, and interest in joint ventures are recognized to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which they can be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the assets are realized or the liabilities are settled, based on the tax rates and tax laws enacted or substantively enacted at the end of the reporting period. The measurement of deferred tax assets and liabilities reflects the tax consequences that would follow from the manner in which Honda expects, at the end of reporting period, to recover or settle the carrying amount of its assets and liabilities. Honda reviews the carrying amount of deferred tax assets at the end of each reporting period, and reduces the carrying amount of deferred tax assets to the extent that it is no longer probable that sufficient taxable profit will be available to allow the benefit of part or all of that deferred tax assets to be utilized. Deferred tax assets and deferred tax liabilities are offset, only when Honda has a legally enforceable right to set off current tax assets against current tax liabilities, and the same taxation authority levies income taxes either on the same taxable entity or on different taxable entity which intends either to settle current tax liabilities and assets on a net basis or to realize the assets and settle the liabilities simultaneously. Honda reflects the effect of uncertainty in the consolidated financial statements if Honda concludes it is not probable that the taxation authority will accept the tax treatment. (p) Earnings per Share Basic earnings per share is calculated by dividing profit for the year attributable to owners of the parent by the weighted average number of common shares outstanding during the period.
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Segment Information | (4) Segment Information Honda has four reportable segments: Motorcycle business, Automobile business, Financial services business and Life creation and other businesses, which are based on Honda’s organizational structure and characteristics of products and services. Operating segments are defined as 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 these reportable segments are consistent with the accounting policies used in the Company’s consolidated financial statements. Principal products and services, and functions of each segment are as follows:
(a) Segment Information Segment information as of and for the years ended March 31, 2020, 2021 and 2022 is as follows: As of and for the year ended March 31, 2020
As of and for the year ended March 31, 2021
Explanatory notes:
(b) Product or Service Groups Information Sales revenue by product or service groups of Honda for the years ended March 31, 2020, 2021 and 2022 is as follows:
(c) Geographical Information The sales revenue and carrying amounts of non-current assets other than financial instruments, deferred tax assets and net defined benefit assets based on the location of the Company and its subsidiaries as of and for the years ended March 31, 2020, 2021 and 2022 are as follows: As of and for the year ended March 31, 2020
As of and for the year ended March 31, 2021
As of and for the year ended March 31, 2022
(d) Supplemental Geographical Information In addition to the disclosure required by IFRS, Honda provides the following supplemental information for the financial statements users: Supplemental geographical information based on the location of the Company and its subsidiaries As of and for the year ended March 31, 2020
As of and for the year ended March 31, 2021
As of and for the year ended March 31, 2022
Explanatory notes:
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Cash and Cash Equivalents |
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Cash and Cash Equivalents | (5) Cash and Cash Equivalents Cash and cash equivalents as of March 31, 2021 and 2022 consist of the following:
Cash equivalents held by Honda mainly consist of money market funds and certificates of deposit. |
Trade Receivables |
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Trade Receivables | (6) Trade Receivables Trade receivables are classified as financial assets measured at amortized cost. Trade receivables as of March 31, 2021 and 2022 consist of the following:
The changes in the allowance for impairment losses on trade receivables for the years ended March 31, 2020, 2021 and 2022 are as follows:
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Receivables from Financial Services |
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Receivables from Financial Services | (7) Receivables from Financial Services The finance subsidiaries of the Company provide various financial services to customers and dealers in order to support the sale of products. These receivables from financial services are categorized as follows: Consumer finance receivables: Retail receivables primarily consist of receivables from installment contracts with customers. Finance lease receivables primarily consist of receivables from non-cancelable auto leases with customers.Dealer finance receivables: Wholesale receivables primarily consist of financing receivables from dealers for the purchase of inventories and dealer loans. Receivables from financial services are mainly classified into financial assets measured at amortized cost. Receivables from financial services as of March 31, 2021 and 2022 consist of the following:
Finance lease receivables The lease payments receivable under the finance leases by maturity as of March 31, 2021 and 2022 are as follows:
For the nature of the lessor’s leasing activities and the risk management strategy, see note 3(i) and (j). Allowance for credit losses The changes in the allowance for credit losses on receivables from financial services for the years ended March 31, 2020, 2021 and 2022 are as follows: For the years ended March 31, 2020, 2021 and 2022
For more information on allowance for credit losses, see note 25(c).
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Other Financial Assets |
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Other Financial Assets | (8) Other Financial Assets Other financial assets as of March 31, 2021 and 2022 consist of the following:
The changes in the allowance for impairment losses on other financial assets for the years ended March 31, 2020, 2021 and 2022 are as follows:
The allowance for impairment losses on other financial assets for the years ended March 31, 2020, 2021 and 2022 are mainly for credit-impaired financial assets. Major securities included in the equity securities designated as financial assets measured at fair value through other comprehensive income as of March 31, 2021 and 2022 are as follows: As of March 31, 2021
As of March 31, 2022
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Inventories |
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Inventories | (9) Inventories Inventories as of March 31, 2021 and 2022 consist of the following:
The respectively. |
Investments Accounted for Using the Equity Method |
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Investments Accounted for Using the Equity Method | (10) Investments accounted for using the equity method Honda’s equity in affiliates and joint ventures as of March 31, 2021 and 2022 is as follows:
Honda’s share of comprehensive income of affiliates and joint ventures for the years ended March 31, 2020, 2021 and 2022 is as follows:
Investments accounted for using the equity method, Honda’s equity of undistributed earnings, profit for the year, other comprehensive income and comprehensive income for the year items include a joint venture that is material to the Company. (Material joint venture) Dongfeng Honda Automobile Co., Ltd. is a joint venture that is material to the Company. Dongfeng Honda Automobile Co., Ltd., located in Wuhan City, China, manufactures and sells automobile products. Honda and Dongfeng Motor Corporation each holds 50% equity stake in Dongfeng Honda Automobile Co., Ltd. Summarized consolidated financial information of Dongfeng Honda Automobile Co., Ltd. as of March 31, 2021 and 2022 is as follows:
Summarized consolidated financial information of Dongfeng Honda Automobile Co., Ltd. for the years ended March 31, 2020, 2021 and 2022 is as follows:
Combined financial information in respect of affiliates as of March 31, 2021 and 2022, and for the years ended March 31, 2020, 2021 and 2022 is as follows:
Combined financial information in respect of joint ventures as of March 31, 2021 and 2022, and for the years ended March 31, 2020, 2021 and 2022 is as follows:
The amounts of a joint venture that is material to the Company are included in above. (Management Integration) Through tender offers (the “Tender Offers”) targeting our former affiliates accounted for using the equity method which were Keihin Corporation, Showa Corporation and Nissin Kogyo Co., Ltd. (collectively, the “Target Companies”) conducted by Honda from September 2, 2020 to October 15, 2020 and the subsequent procedures for demand for sale of shares pursuant to the provisions of Article 179 of the Company Law of Japan, Honda has obtained all of the common shares of the Target Companies (excluding the common shares of the Target Companies owned by Honda and treasury shares owned by the Target Companies) for the year ended March 31, 2021. In accordance with the basic contract agreed between Hitachi, Ltd., Hitachi Automotive Systems, Ltd. (“Hitachi Automotive Systems”) which is a consolidated subsidiary of Hitachi, Ltd., the Target Companies and Honda on October 30, 2019 to conduct a management integration, agreements of absorption-type merger in which Hitachi Automotive Systems will be the surviving company, and the Target Companies will be the disappearing companies (the “Absorption-type Merger”) were respectively concluded between each of the Target Companies and Hitachi Automotive Systems on November 18, 2020. In the Absorption-type Merger, common shares of the surviving company after the Absorption-type Merger (the “Integrated Company”) were allotted to Honda as the consideration for the merger, in a merger ratio where the number of voting rights of the Integrated Company held by Honda will account for 33.4% of the number of voting rights held by all shareholders of the Integrated Company. On January 1, 2021, the effective date of Absorption-type Merger, the Integrated Company became our affiliate accounted for using the equity method. As of the same date, the Integrated Company changed its name to “Hitachi Astemo, Ltd.” Prior to the effective date of the Absorption-type Merger, in order to have the ratio of the total share value of the Target Companies to Hitachi Automotive Systems’ share value correspond to the above merger ratio, the share values of the Target Companies had been adjusted through acquisitions of treasury shares by the Target Companies. For the year ended March 31, 2021, upon the successful completion of the Tender Offers for the Target Companies, the Company recognized reversal of impairment losses of ¥56,849 million which had been previously recognized on the investments in certain Target Companies accounted for using the equity method, based on quoted market values which had increased since the announcement of the Tender Offers. The reversal of impairment losses is included in share of profit of investments accounted for using the equity method in the consolidated statements of income and mainly included in the Automobile business segment. For the year ended March 31, 2020 and 2022, the Company did not recognize any significant reversal of impairment losses. |
Property, Plant and Equipment |
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Property, Plant and Equipment | (11) Equipment on Operating Leases Equipment on operating leases are mainly vehicles. The changes in cost, accumulated depreciation and impairment losses, and the carrying amounts of equipment on operating leases for the years ended March 31, 2021 and 2022 are as follows: (Cost)
(Accumulated depreciation and impairment losses)
(Carrying amount)
(Future lease payments) Future lease payments expected to be received under the operating leases by maturity as of March 31, 2021 and 2022 consist of the following:
Future lease payments expected to be received as shown above should not necessarily be considered indicative of future cash collections. (Lease income) Operating leases income for the years ended March 31, 2021 and 2022 are ¥1,069,374 million and ¥1,134,898 million, respectively.
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Property, Plant and Equipment | (12) Property, Plant and Equipment The changes in cost, accumulated depreciation and impairment losses, and the carrying amounts of property, plant and equipment for the years ended March 31, 2021 and 2022 are as follows: (Cost)
(Accumulated depreciation and impairment losses)
For commitments for purchases of property, plant and equipment, see note 28. (Right-of-use Property, plant and equipment in the consolidated statements of financial position include the right-of-use Honda leases mainly dealer’s stores, company housing and parking lots, under arrangements that often contain extension and termination options. Since lease contracts are managed at each company and individually negotiated, the lease contracts include various terms. Extension and termination options are included mainly in order to enhance operational flexibly of each company. The changes in the carrying amounts of the right-of-use
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Intangible Assets |
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Intangible Assets | (13) Intangible Assets The changes in cost, accumulated amortization and impairment losses, and carrying amounts of intangible assets for the years ended March 31, 2021 and 2022 are as follows: (Cost)
(Accumulated amortization and impairment losses)
Amortization of capitalized development costs is included in research and development, and amortization of other intangible assets is included in cost of sales, selling, general and administrative, and research and development in the consolidated statements of income. For commitments for purchases of intangible assets, see note 28.
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Trade Payables |
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Mar. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Trade Payables | (14) Trade Payables Trade payables are classified as financial liabilities measured at amortized cost. Trade payables as of March 31, 2021 and 2022 consist of the following:
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Financing Liabilities |
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Financing Liabilities | (15) Financing Liabilities Financing liabilities are classified as financial liabilities measured at amortized cost. Financing liabilities presented in current liabilities as of March 31, 2021 and 2022 consist of the following:
The weighted average interest rates for financing liabilities presented in current liabilities (excluding reclassification from non-current liabilities) as of March 31, 2021 and 2022 are as follows:
Financing liabilities presented in non-current liabilities as of March 31, 2021 and 2022 consist of the following:
The interest rate range and payment due date for financing liabilities presented in non-current liabilities (including reclassification to current liabilities) as of March 31, 202 1 and 2022 are as follows:
(Pledged assets) Pledged assets for financing liabilities as of March 31, 2021 and 2022 are as follows:
Receivables from financial services and equipment on operating leases are pledged as collateral for liabilities related to asset-backed securities transactions. Other items are mainly pledged as collateral for secured bank loans. As is customary in Japan, bank loans are extended under general agreements which provide that security and guarantees for present and future indebtedness will be given upon request of the bank, and that the bank shall have the right to offset cash deposits against obligations that have become due or, in the event of default, against all obligations due to the bank. (Reconciliation of liabilities arising from financing activities) The changes in liabilities arising from financing activities for the years ended March 31, 2020, 2021 and 2022 are as follows: For the year ended March 31, 2020
For the year ended March 31, 2021
Explanatory notes:
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Other Financial Liabilities |
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Other Financial Liabilities | (16) Other Financial Liabilities Other financial liabilities as of March 31, 2021 and 2022 consist of the following:
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Provisions | (17) Provisions The components of and changes in provisions for the year ended March 31, 2022 are as follows:
Current liabilities and non-current liabilities of provisions as of March 31, 2021 and 2022 are as follows:
Explanatory note:
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Employee Benefits | (18) Employee Benefits (a) Post-employment Benefits Honda has various pension plans covering substantially all of their employees in Japan and certain employees in foreign countries. The Company and its Japanese subsidiaries provide plans similar to a cash balance pension plan or other defined benefit pension plans in accordance with the Defined-Benefit Corporate Pension Act of Japan. The Company and some of its subsidiaries have retirement pension benefit plans as well as lump-sum retirement benefit plans, in which the amount of benefits is basically determined based on the level of salary, service years, and other factors. In addition, certain consolidated subsidiaries in North America provide mainly health care and life insurance benefits to retired employees. The Company’s pension plans are administered by the Honda Pension Fund (the Fund) which is legally independent of the Company. The Director of the Fund has the fiduciary duty to comply with laws, the directives by the Minister of Health, Labour and Welfare, and the Director-Generals of Regional Bureaus of Health and Welfare made pursuant to those laws, and the by-laws of the Fund and the decisions made by the Board of Representatives of the Fund. The Company is required to make contributions to the Fund and obligated to make contributions in the amount stipulated by the Fund. Contributions are also regularly reviewed and adjusted as necessary to the extent permitted by laws and regulations. Certain consolidated subsidiaries in North America amended their health care benefits which are provided to retired employees to eliminate certain plans and reduce the scope of the persons eligible for the benefits, and implemented a voluntary retirement opportunity program to streamline the workforce with the future of Honda’s business for the year ended March 31, 2021. The plan amendment and the implementation of the voluntary retirement opportunity program resulted in recognition of the past service cost to profit or loss for the year ended March 31, 2021. 1) Defined benefit obligations and plan assets The changes in present value of defined benefit obligations and fair value of plan assets of the Company and certain of its consolidated subsidiaries for the years ended March 31, 2021 and 2022 are as follows:
Retirement benefit assets included in net defined benefit liabilities (assets) as of March 31, 2021 and 2022 are ¥ 168,488million and ¥ 216,604million, respectively, which are presented in other non-current assets in the consolidated statements of financial position. 2) Fair value of plan assets Honda’s investment policies for the Japanese and foreign pension plan assets are designed to maximize total medium-to-long equity and debt securities using target asset allocations, consistent with accepted tolerance for risks. Honda sets target asset allocations for each asset category with future anticipated performance over medium-to-long The fair value of the Japanese and foreign pension plan assets by asset category as of March 31, 2021 and 2022 is as follows: As of March 31, 2021
As of March 31, 2022
3) Actuarial assumptions The significant actuarial assumptions used to determine the present value of defined benefit obligations as of March 31, 2021 and 2022 are as follows:
4) Sensitivity analysis The effects on defined benefit obligations of 0.5% increase or decrease in the discount rate as of March 31, 2021 and 2022 are as follows:
This sensitivity analysis shows changes in defined benefit obligations as of March 31, 2021 and 2022, as a result of changes in actuarial assumptions that the Company can reasonably assume. This analysis is based on provisional calculations, and thus actual results may differ from the analysis. In addition, changes in the rate of salary increase are not expected. 5) Cash flows The amount of contributions to plan assets made by the Company and certain of its consolidated subsidiaries are determined based on various factors such as the level of salary and service years of employees, status of plan asset reserve, and actuarial calculations. In accordance with the provisions of the Defined Benefit Corporate Pension Act, the Honda Pension Fund also recalculates the amount of contributions every five years at the end of the reporting period as a base date, in an effort to ensure balanced finances in the future. The Company and certain of its consolidated subsidiaries may make contributions of a necessary amount if the amount of reserve falls below the minimum base amount. The Company and certain of its consolidated subsidiaries expect to contribute ¥19,919 million to its Japanese pension plans and ¥21,057 million to its foreign pension plans in the year ending March 31, 2023. The weighted average duration of defined benefit obligations as of March 31, 2021 and 2022 are as follows:
(b) Personnel Expenses Personnel expenses included in the consolidated statements of income for the years ended March 31, 2020, 2021 and 2022 are as follows:
Personnel expenses include salaries, bonuses, social security expenses and expenses relating to post-employment benefits.
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Equity | (19) Equity (a) Management of Capital Honda makes investments in capital and research and development to improve corporate value through growth on a global basis. In order to meet these funding needs, Honda makes capital management through consideration of the balance between financing liabilities and equity. Financing liabilities and equity of Honda as of March 31, 2021 and 2022 are as follows:
(b) Common Stock The Company’s total number of shares authorized and issued for the years ended March 31, 2020, 2021 and 2022 are as follows:
All of the issued shares as of March 31, 2020, 2021 and 2022 have been paid in full. (c) Capital Surplus and Retained Earnings Capital surplus consists of surplus that is derived from equity transactions and not recorded in common stock, and its primary component is capital reserves. The Companies Act of Japan provides that no less than 50% of the paid-in amount or proceeds of issuance of shares shall be incorporated in common stock, and that the remaining shall be incorporated in capital reserves. Capital reserves may be incorporated in common stock upon approval of the General Meeting of Shareholders. Retained earnings consist of legal reserves and accumulated earnings. The Companies Act of Japan provides that earnings in an amount equal to 10% of cash dividends from retained earnings shall be appropriated as a capital reserve or a legal reserve on the date of distribution of retained earnings until an aggregated amount of capital reserve and legal reserve equals 25% of common stock. Legal reserves may be used upon approval of the General Meeting of Shareholders. Certain foreign consolidated subsidiaries are also required to appropriate their earnings under the laws of respective countries. (d) Treasury Stock The total number of the Company’s treasury stock held by Honda as of March 31, 2020, 2021 and 2022 is as follows:
Under the Companies Act of Japan, the number of shares and total value of treasury stock acquisition may be determined, upon approval of the General Meeting of Shareholders, within the amount available for distribution. Furthermore, treasury stock may be acquired through market transactions or tender offers in accordance with the articles of incorporation within the conditions set forth in the Companies Act, upon approval of the Board of Directors. (e) Other Components of Equity The changes in other components of equity for the years ended March 31, 2020, 2021 and 2022 are as follows:
(f) Other Comprehensive Income Each component of other comprehensive income and related tax effect including non-controlling interests for the years ended March 31, 2020, 2021 and 2022 are as follows: For the year ended March 31, 2020
For the year ended March 31, 2021
For the year ended March 31, 2022
The components of other comprehensive income included in non-controlling interests for the years ended March 31, 2020, 2021 and 2022 are as follows:
(g) Dividends from Retained Earnings The Company distributes retained earnings within the available amount calculated in accordance with the Companies Act of Japan. The amount of retained earnings available for distribution is calculated based on the amount of retained earnings recorded in the Company’s non-consolidated accounting records prepared in accordance with accounting principles generally accepted in Japan. The amounts recognized as dividends of retained earnings for the years ended March 31, 2020, 2021 and 2022 are as follows: 1) Dividend payout For the year ended March 31, 2020
For the year ended March 31, 2021
For the year ended March 31, 2022
2) Dividends payable of which record date was in the year ended March 31, 2022, effective after the period
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Sales Revenue | (20) Sales Revenue (a) Disaggregation of revenue As stated in note 4, Honda has four reportable segments: Motorcycle business, Automobile business, Financial services business and Life creation and other businesses. The sales revenue disaggregated by geographical markets based on the location of the customer and the reconciliation of the disaggregated sales revenue with the four reportable segments for the years ended March 31, 2020, 2021 and 2022 are as follows: For the year ended March 31, 2020
For the year ended March 31, 2021
For the year ended March 31, 2022
Explanatory note:
(b) Contract balances The receivables from contracts with customers and contract liabilities for the years ended March 31, 2021 and 2022 are as follows:
The amounts of revenue recognized for the years ended March 31, 2020, 2021 and 2022 that were included in the contract liability balances at the beginning of the year are ¥186,581 million, ¥182,339 million and ¥199,902 million, respectively. The amounts of revenue recognized for the years ended March 31, 2020, 2021 and 2022 from performance obligations satisfied (or partially satisfied) in previous years were immaterial. In addition, the balances of contract assets were immaterial.(c) Transaction price allocated to the remaining performance obligation The revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2021 and 2022 are as follows:
The table does not include the remaining performance obligations that have original expected durations of one year or less and estimated amounts of variable consideration that are constrained from being recognized as revenue. (d) Assets recognized from the costs to obtain or fulfill a contract with a customer The assets recognized from the costs to obtain a contract with a customer as of March 31, 2021 and 2022 are as follows:
Honda recognizes the incremental costs of obtaining a contract with a customer and the costs incurred in fulfilling a contract with a customer that are directly associated with the contract as an asset, if those costs are expected to be recoverable. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained. The assets recognized from the costs to obtain a contract are presented in the consolidated statement of financial position mainly as other non-current assets and are amortized over the period for which the services based on a contract are provided. The amounts of assets recognized from the costs to fulfill a contract are not material. The amounts of amortization of the assets for the years ended March 31, 2020, 2021 and 2022 are ¥ 35,324 million, ¥ 33,242 million and ¥ 39,682million, respectively. |
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Research and Development | (21) Research and Development Research and development costs for the years ended March 31, 2020, 2021 and 2022 consist of the following:
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Finance Income and Finance Costs | (22) Finance Income and Finance Costs Finance income and finance costs for the years ended March 31, 2020, 2021 and 2022 consist of the following:
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Income Taxes |
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Income Taxes | (23) Income Taxes (a) Income Tax Expense Profit before income taxes and income tax expense for the years ended March 31, 2020, 2021 and 2022 consist of the following:
The statutory income tax rate in Japan was approximately 30.2% for each of the years in the three-year period ended March 31, 202 16.02 . The foreign subsidiaries are subject to taxes based on income at rates ranging from % to 34.0%. The Japanese statutory income tax rate for the years ended March 31, 2020, 2021 and 2022 differs from the average effective tax rate for the following reasons:
(b) Deferred Tax Assets and Deferred Tax Liabilities The components by major factor in deferred tax assets and deferred tax liabilities as of March 31, 2021 and 2022 are as follows:
Explanatory note:
The changes in deferred tax assets and deferred tax liabilities recognized as income tax expense in the consolidated statements of income for the years ended March 31, 2020, 2021 and 2022 are as follows:
Honda considers the probability that a portion of, or all of, the deductible temporary differences, carryforward of unused tax losses and carryforward of unused tax credit can be utilized against future taxable profits in the recognition of deferred tax assets. In assessing recoverability of deferred tax assets, management considers the scheduled reversal of deferred tax liabilities, projected future taxable profit and tax planning strategies. Based upon the level of historical taxable profit and projections for future taxable profit over the periods for which the deferred tax assets are deductible, management believes it is probable that Honda will utilize the benefits of these deferred tax assets as of March 31, 2021 and 2022. Uncertainty of estimates of future taxable profit could increase due to changes in the economic environment surrounding Honda, effects by market conditions, effects of currency fluctuations or other factors. Deferred tax assets recognized by entities that have suffered a loss in either the preceding or current period are ¥19,647 million and ¥26,109 million as of March 31, 2021 and 2022, respectively. Deductible temporary differences, carryforward of unused tax losses and carryforward of unused tax credit for which deferred tax assets are not recognized as of March 31, 2021 and 2022 are as follows:
The components by expiry of the carryforward of unused tax losses for which deferred tax assets are not recognized as of March 31, 2021 and 2022 are as follows:
The components by expiry of the carryforward of unused tax credit for which deferred tax assets are not recognized as of March 31, 2021 and 2022 are as follows:
The aggregate amounts of temporary differences relating to investments in subsidiaries and interests in joint ventures for which deferred tax liabilities are not recognized as of March 31, 2021 and 2022 are ¥5,331,437 million and ¥6,323,299 million, respectively.
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Earnings Per Share |
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Earnings Per Share | (24) Earnings Per Share Earnings per share attributable to owners of the parent for the years ended March 31, 2020, 2021 and 2022 are calculated based on the following information. There were no significant dilutive potential common shares outstanding for the years ended March 31, 2020, 2021 and 2022.
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Financial Risk Management |
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Financial Risk Management | (25) Financial Risk Management (a) Risk Management Honda has manufacturing operations throughout the world and sells products and components to various countries. In the course of these activities, Honda holds trade receivables arising from business activities, receivables from financial services, trade payables and financing liabilities, and is thus exposed to market risk, credit risk and liquidity risk associated with the holding of such financial instruments. These risks are evaluated by Honda through periodic monitoring. (b) Market Risk Honda is exposed to the risk that the fair value or future cash flows of a financial instrument fluctuates because of changes in foreign currency exchange rates and interest rates. Honda uses derivatives that consist mainly of foreign currency forward exchange contracts, foreign currency option contracts, currency swap agreements and interest rate swap agreements to reduce primarily the risk that future cash flows of a financial instrument fluctuates because of changes in foreign currency exchange rates and interest rates. Derivatives are used within the scope of actual demand, in accordance with risk management policies. In addition, Honda does not hold any derivatives for trading purpose. 1) Foreign currency exchange rate risk Honda has manufacturing operations throughout the world and exports products and components to various countries. Honda purchases materials and components and sells its products and components in foreign currencies. Therefore, currency fluctuations may affect Honda’s profit and the value of the financial instruments it holds. Foreign currency forward exchange contracts and foreign currency option contracts are used to hedge currency risk of transactions denominated in foreign currencies (principally U.S. dollars). (Foreign currency exchange rate risk sensitivity analysis) Sensitivity analysis of Honda’s foreign currency exchange rate risk associated with holding financial instruments as of March 31, 2021 and 2022 is as follows. The following scenario demonstrates the impact of a 1% appreciation of the Japanese yen against the U.S. dollar on profit before income taxes, holding all variables other than the foreign currency exchange .
2) Interest rate risk Honda is exposed to market risk for changes in interest rates related primarily to its debt obligations and receivables from financial services. In addition to short-term financing such as commercial paper, Honda has long-term debt with both fixed and floating rates. Honda’s receivables from financial services primarily use fixed rates. Interest rate swap agreements are mainly used to manage interest rate risk exposure of receivables from financial services and to match finance costs with finance income. Currency swap agreements used among different currencies, also serve to hedge foreign currency exchange risk as well as interest rate risk. (Interest rate risk sensitivity analysis) Sensitivity analysis of Honda’s interest rate risk associated with holding financial instruments as of March 31, 2021 and 2022 is as follows. The following scenario demonstrates the impact of a 100 basis point rise in interest rates on profit before income taxes, holding all variables other than interest rates constant.
3) Equity price risk Honda is exposed to equity price risk as a result of its holdings of marketable equity securities. Marketable equity securities are held for purposes other than trading, and are mainly classified into financial assets measured at fair value through other comprehensive income. (c) Credit Risk Honda is exposed to the risk that one party to a financial instrument causes a financial loss for the other party by failing to discharge an obligation. Honda reduces the risk of financial assets other than derivatives in accordance with credit administration rules. Honda reduces the risk of derivatives by limiting the counterparties to major international banks and financial institutions that meet the internally established credit guidelines. The credit risk is mainly in receivables from financial services. Credit risk of the portfolio of consumer finance receivables can be affected by general economic conditions. Adverse changes such as a rise in unemployment can increase the likelihood of defaults. Declines in used vehicle prices can reduce the amount of recoveries on repossessed collaterals. The finance subsidiaries of the Company manage exposures to credit risk in consumer finance receivables by monitoring and adjusting underwriting standards, which affect the level of credit risk that Honda assumes, pricing contracts for expected losses, and focusing collection efforts to minimize losses. Credit risk on dealer finance receivables is affected primarily by the financial strength of the dealers within the portfolio, the value of collateral securing the financings, and economic and market factors that could affect the creditworthiness of dealers. The finance subsidiaries of the Company manage exposures to credit risk in dealer finance receivables by performing comprehensive reviews of dealers prior to establishing financing arrangements and continuously monitoring the payment performance and creditworthiness of these dealers. Honda has entered into various guarantee agreements, which mainly consist of loan commitments to dealers and guarantees of bank loans of employees for their housing costs. The finance subsidiaries of the Company maintain unused balances on committed lines to dealers based on loan commitment contracts. Although committed lines have been extended, they will not necessarily be withdrawn, as certain contracts contain terms and conditions of withdrawal that require screening of the obligor’s credit standing. There is risk that dealers fail to discharge withdrawn committed lines and cause financial loss for Honda. Regarding the bank loans of employees for their housing costs, if an employee defaults on his/her loan payments, Honda is required to perform under the guarantee. As of March 31, 2022, no amount has been accrued for any estimated losses under the obligations, as it is probable that the employees will be able to make all scheduled payments. 1) Credit risk exposure The analysis of the age of receivables from financial services that are past due as of March 31, 2021 and 2022 is as follows:
The balances of retail receivables included in consumer finance receivables as of March 31, 2021 and 2022 are as follows:
Explanatory note:
Dealerships are assigned an internal risk rating based primarily on their financial condition. At a minimum, risk ratings for dealerships are updated annually and more frequently for dealerships with weaker risk ratings. The following table shows the balances of dealer finance receivables and loan commitments classified into Group A or B based on the internal risk ratings. Group A includes the dealer finance receivables and loan commitments of dealerships with high credit quality characteristics. Group B includes the dealer finance receivables and loan commitments of remaining dealerships. The balances of dealer finance receivables and the undiscounted maximum amounts of potential payment for loan commitments by this risk rating as of March 31, 2021 and 2022 are as follows:
The undiscounted maximum amount of potential payment for guarantees of bank loans of employees for their housing costs as of March 31, 2021 is ¥8,343 million.
The undiscounted maximum amount of potential payment for guarantees of bank loans of employees for their housing costs as of March 31, 2022 is ¥7,098 million. 2) Collateral held as security The finance subsidiaries of the Company generally hold sold products as collateral for consumer finance receivables. The finance subsidiaries of the Company hold the dealerships’ other assets as collateral in addition to sold products for dealer finance receivables. The extent to which collateral mitigates credit risk is dependent on the value of collateral relative to the outstanding receivables balance at the time of repossession. The estimated fair value of collateral for credit-impaired consumer finance receivables excluding collateral values in excess of carrying amounts as of March 31, 2021 and 2022 are approximately 70% and 90%, respectively, and those for dealer finance receivables are approximately 90% and 100% of the carrying amounts, respectively. The extent to which collateral mitigates credit risk is also dependent on finance subsidiaries’ ability to take possession of the collateral. (d) Liquidity Risk Honda raises funds by commercial paper, bank loans, medium-term notes, corporate bonds and securitization of finance receivables and equipment on operating leases. Honda is exposed to the liquidity risk that Honda would not be able to repay liabilities on the due date due to the deterioration of the financing environment. Exposure to liquidity risk is managed by maintaining sufficient capital resources, a sufficient level of liquidity and a sound balance sheet. Honda meets its working capital targets primarily through cash generated by business operations, bank loans, corporate bonds and commercial paper. Honda funds financial programs for customers and dealers primarily from medium-term notes, bank loans, securitization of finance receivables and equipment on operating leases, commercial paper and corporate bonds. The unused portions of the credit facility of Honda’s commercial paper and medium-term note programs as of March 31, 2021 and 2022 are as follows:
Honda is authorized to obtain financing at prevailing interest rates under these programs. Honda is aware of the possibility that various factors, such as recession-induced market contraction and financial and foreign exchange market volatility may adversely affect liquidity. For this reason, Honda has sufficient committed lines of credit that serve as alternative liquidity for the commercial paper issued regularly to replace debt. The unused portions of the committed lines of credit extended by financial institutions to Honda as of March 31, 2021 and 2022 are as follows:
Borrowings under those committed lines of credit generally are available at the prime interest rate. Maturity analysis of financial liabilities 1) Non-derivative financial liabilities Non-derivative financial liabilities by maturity as of March 31, 2021 and 2022 are as follows:
Other financial liabilities include lease liabilities. Lease liabilities by maturity as of March 31, 2021 and 2022 are as follows:
2) Derivative financial liabilities Derivative financial liabilities by maturity as of March 31, 2021 and 2022 are as follows:
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Fair Value |
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Fair Value | (26) 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:
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. 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 decline (rise) and PBR of a comparable company rise (decline). 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 rate benchmarks like U.S. dollar LIBOR, swap 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. (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, 2021 and 2022 consist of the following:
There were no transfers between Level 1 and Level 2 for the year ended March 31, 2021.
There were no transfers between Level 1 and Level 2 for the year ended March 31, 2022. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the years ended March 31, 2021 and 2022 are as follows:
Explanatory notes:
(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, 2021 and 2022 are as follows:
The table does not include financial assets and financial liabilities measured at amortized cost whose fair values approximate their carrying amounts. |
Offsetting of Financial Assets and Financial Liabilities |
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Offsetting of Financial Assets and Financial Liabilities | (27) Offsetting of Financial Assets and Financial Liabilities The offsetting information regarding financial assets and financial liabilities as of March 31, 2021 and 2022 is as follows:
Generally, the
set-off rights on financial instruments that do not meet the offsetting criteria for offsetting financial assets and financial liabilities become enforceable only under special circumstances, such as when the counterparty can no longer fulfill its obligations due to bankruptcy and other reasons. |
Commitments and Contingent Liabilities |
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Commitments and Contingent Liabilities | (28) Commitments and Contingent Liabilities (a) Commitments Purchase commitments Commitments for purchases of property, plant and equipment and other commitments as of March 31, 2021 and 2022 are as follows:
(b) 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.
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Structured Entities |
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Investments accounted for using the equity method [abstract] | |
Structured Entities | (29) Structured Entities Honda considers whether its control over structured entities exists under IFRS 10 “Consolidated Financial Statements”. Honda consolidates structured entities over which it has control, by comprehensively determining whether its control over the entity exists based on any contractual arrangements with such entity as well as the percentage of its voting or similar rights in the entity. The finance subsidiaries of the Company periodically securitize finance receivables and operating lease assets for liquidity and funding purposes. Securitized assets are transferred to structured entities that are established with the limited purpose of issuing asset-backed securities. The finance subsidiaries of the Company are deemed to have the power to direct the activities of these structured entities that most significantly impact the entities’ economic performance as they retain servicing rights, including the management of delinquencies and defaults of the finance receivables and beneficial interests in operating lease assets. Furthermore, the finance subsidiaries of the Company are deemed to have the obligation to absorb losses and the right to receive variable returns from these structured entities that could potentially be significant to these structured entities by retaining certain subordinated interests of these structured entities. Therefore, the Company is deemed to have substantial control over these entities and consolidates them. Investors in the asset-backed securities issued by these structured entities do not have recourse to the finance subsidiaries’ general credit with the exception of representations and warranties customary in the industry provided by the finance subsidiaries. There were no significant unconsolidated structured entities as of March 31, 2021 and 2022.
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Related Parties |
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Related Parties | (30) Related Parties (a) Related Party Transactions Honda mainly purchases materials, supplies and services from affiliates and joint ventures, and sells finished goods, parts used in its products, equipment and services to them in the ordinary course of business. Transactions with affiliates and joint ventures are generally made at values that approximate arm’s-length prices. The balances of receivables and payables with affiliates and joint ventures as of March 31, 2021 and 2022 are as follows:
The amount of the transactions with affiliates and joint ventures for the years ended March 31, 2020, 2021 and 2022 are as follows:
(b) Compensation to Key Management Compensation paid to the directors and executive officers of the Company for the years ended March 31, 2020, 2021 and 2022 are as follows:
(c) Major Consolidated Subsidiaries Major consolidated subsidiaries as of March 31, 2022 are as follows:
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Approval of Release of Consolidated Financial Statements |
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Approval of Release of Consolidated Financial Statements | (31) Approval of Release of Consolidated Financial Statement s The release of the consolidated financial statements was approved by Toshihiro Mibe, Director, President and Representative Executive Officer and Kohei Takeuchi, Director, Executive Vice President and Representative Executive Officer and Chief Financial Officer on June 22, 2022. |
Significant Accounting Policies (Policies) |
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Basis of Consolidation | (a) Basis of Consolidation The consolidated financial statements include the accounts of the Company, its subsidiaries which are directly or indirectly controlled by the Company, and those structured entities which are controlled by Honda. All significant intercompany balances and transactions have been eliminated in consolidation. Honda controls an entity when Honda is exposed or has rights to variable returns from involvement with the entity, and has the ability to affect those returns by using its power, which is the current ability to direct the relevant activities, over the entity. To determine whether or not Honda controls an entity, status of voting rights or similar rights, contractual agreements and other specific factors are taken into consideration. Structured entities are entities designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. Honda consolidates structured entities over which it has control, by comprehensively determining whether its control over the entity exists based on any contractual arrangements with such entity as well as the percentage of its voting or similar rights in the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date when the control is obtained until the date when the control is lost. The financial statements of subsidiaries have been adjusted in order to ensure consistency with the accounting policies adopted by the Company as necessary. Changes in the Company’s ownership interests in subsidiaries that do not result in a loss of control are accounted for as equity transactions. When control over a subsidiary is lost, the investment retained after the loss of control is remeasured at fair value as of the date of the loss of control, and any gain or loss on such remeasurement and disposal of the interest sold is recognized in profit or loss. |
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Investments in Affiliates and Joint Ventures (Investments Accounted for Using the Equity Method) | (b) Investments in Affiliates and Joint Ventures (Investments Accounted for Using the Equity Method) Affiliates are entities over which Honda has a significant influence over the decisions on financial and operating policies, but does not have control or joint control. Joint ventures are joint arrangements whereby the parties including Honda that have joint control have rights to the net assets of the arrangement. Joint arrangements are arrangements of which two or more parties have joint control, and joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Investments in affiliates and joint ventures are accounted for using the equity method from the date when the investees are determined to be affiliates or joint ventures until the date when they ceased to be classified as affiliates or joint ventures. Under the equity method, the investment is initially recognized at cost, and the carrying amount is subsequently increased or decreased, to recognize Honda’s share of profit or loss and other comprehensive income of the affiliate or the joint venture after the date of initial recognition. The financial statements of affiliates and joint ventures have been adjusted in order to ensure consistency with the accounting policies adopted by the Company in applying the equity method, as necessary. The use of the equity method is discontinued from the date when the investees are determined to be no longer affiliates or joint ventures. The investment retained after cessation of the equity method is remeasured at fair value, and any gain or loss on such remeasurement and disposal of the investment is recognized in profit or loss.
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Foreign Currency Translations | (c) Foreign Currency Translations 1) Foreign currency transactions Foreign currency transactions are translated into the respective functional currencies at the exchange rates prevailing when such transactions occur. All foreign currency receivables and payables are translated into the respective functional currencies at the applicable exchange rates at the end of the reporting period. Gains or losses on exchange differences arising on settlement of foreign currency receivables and payables or on their translations at the end of the reporting date are recognized in profit or loss and they are included in finance income and finance costs-other, net in the consolidated statements of income. 2) Foreign operations All assets and liabilities of foreign subsidiaries, affiliates and joint ventures (collectively “foreign operations”), which use a functional currency other than Japanese yen, are translated into Japanese yen at the exchange rates at the end of the reporting period. All revenues and expenses of foreign operations are translated into Japanese yen at the average exchange rate for the period except when a functional currency is the currency of a hyperinflationary economy. Exchange differences arising from translation are recognized in other comprehensive income and accumulated in other components of equity in the consolidated statements of financial position. When a foreign operation is disposed of, and control, significant influence or joint control over the foreign operation is lost, the cumulative amount of exchange differences relating to the foreign operation is reclassified from equity to profit or loss.
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Financial Instruments | (d) Financial Instruments A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity security of another entity. When Honda becomes a party to the contractual provision of a financial instrument, the financial instrument is recognized either as a financial asset or as a financial liability. When Honda purchases or sells a financial asset, the financial asset is recognized or derecognized at the trade date. 1) Non-derivative financial assets Honda classifies financial assets other than derivatives into “financial assets measured at amortized cost”, “financial assets measured at fair value through other comprehensive income” or “financial assets measured at fair value through profit or loss”. Honda determines the classification of financial assets upon initial recognition. Financial assets are derecognized when the contractual rights to cash flows from the financial assets expire, or when the contractual rights to receive the cash flows from the financial assets are transferred and all risks and rewards of ownership of the financial assets are substantially transferred. Financial assets measured at amortized cost A financial asset is classified into financial assets measured at amortized cost when the asset is held within a business model whose objective is to hold the asset in order to collect the contractual cash flows, and the contractual term of the financial asset gives rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets measured at amortized cost except trade receivables arising from contracts with customers are initially measured at their fair value and trade receivables arising from contracts with customers are initially measured at their transaction price. Financial assets measured at amortized cost are subsequently measured at amortized cost using the effective interest method. Financial assets measured at fair value A financial asset other than a financial asset measured at amortized cost is classified into financial assets measured at fair value. The financial assets measured at fair value are further classified into the following categories: Financial assets measured at fair value through other comprehensive income A debt security is classified into financial assets measured at fair value through other comprehensive income when the asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The debt securities are initially measured at their fair value, and subsequent changes in fair value are recognized in other comprehensive income except for impairment gain or loss and foreign exchange gain or loss. When the debt securities are derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss. Honda elects to designate investments in equity securities such as shares, held for maintaining and strengthening the trade relationship as financial assets measured at fair value through other comprehensive income. Equity securities designated as financial assets measured at fair value through other comprehensive income are initially measured at their fair value, and subsequent changes in fair value of the investment are recognized in other comprehensive income. However, dividends from the equity securities are principally recognized in profit or loss. When the equity securities are derecognized, the cumulative gain or loss previously recognized in other comprehensive income is directly reclassified to retained earnings. Financial assets measured at fair value through profit or loss Financial assets measured at fair value other than financial assets measured at fair value through other comprehensive income are classified into financial assets measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are initially measured at their fair value, and subsequent changes in fair value are recognized in profit or loss. (Cash and cash equivalents) Cash and cash equivalents consist of cash on hand, demand deposits, and short-term highly liquid investments that are readily convertible to known amounts of cash and are subject to insignificant risk of changes in value. Honda includes all highly liquid debt instruments with original maturities of three months or less in cash equivalents. 2) Non-derivative financial liabilities Financial liabilities other than derivatives are initially measured at their fair value, and are subsequently measured at amortized cost using the effective interest method. Financial liabilities are derecognized, when the obligations specified in the contract are discharged, canceled or expire. 3) Derivatives Honda has entered into foreign exchange and interest rate agreements to manage currency and interest rate exposures. These agreements include foreign currency forward exchange contracts, currency option contracts, currency swap agreements and interest rate swap agreements. All these derivatives are initially recognized as assets or liabilities and measured at fair value, when Honda becomes a party to the contractual provision of the derivatives. Subsequent changes in fair value of derivatives are recognized in profit or loss in the period of the changes. Honda has not held any derivatives designated as hedging instruments for the years ended March 31, 2020, 2021 and 2022. 4) Offsetting of financial assets and financial liabilities Financial assets and financial liabilities are offset and the net amount is presented in the consolidated statements of financial position, only when Honda currently has a legally enforceable right to offset the recognized amounts, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.
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Inventories | (e) Inventories Inventories are measured at the lower of cost and net realizable value. The cost of inventories includes purchase costs and conversion costs, and it is determined principally by using the
first-in first-out method. Conversion cost includes an appropriate share of production overheads on the normal operation capacity. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. |
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Equipment on Operating Leases | (f) Equipment on Operating Leases Equipment on operating leases is measured based on the cost model and carried at its cost less accumulated depreciation and impairment losses. A vehicle subject to operating lease is initially measured at its cost. Depreciation of equipment on operating leases is calculated on the straight-line method over the lease term. The depreciable amount is the cost of the vehicle less its residual value which is estimated by using the estimate of future used vehicle value, taking into consideration economic conditions, external market information on new and used vehicles, historical trends, and recent auction values. |
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Property, Plant and Equipment | (g) Property, Plant and Equipment Property, plant and equipment is measured based on the cost model and carried at its cost less accumulated depreciation and impairment losses. Property, plant and equipment is initially measured at its cost. Subsequent expenditures on an item of property, plant and equipment acquired, are recognized in the carrying amount of the item, only when it is probable that the expenditure will generate a future economic benefit. Depreciation of property, plant and equipment, except for land that is not subject to depreciation, is calculated on the straight-line method over the estimated useful life. The depreciable amount is the cost of the asset less the respective estimated residual values. The estimated useful lives used in calculating depreciation of property, plant and equipment are mainly as follows:
The depreciation method, useful lives and residual values of property, plant and equipment are reviewed annually at each fiscal year end, and adjusted prospectively, if appropriate. Property, plant and equipment in the consolidated statements of financial position include
right-of-use right-of-use |
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Intangible Assets | (h) Intangible Assets Intangible assets are measured based on the cost model and carried at their cost less accumulated amortization and impairment losses. (Research and development) Development expenditure for a product is capitalized only when there is a technical and commercial feasibility of completing the development, Honda has intention, ability and sufficient resources to use the outcome of the development, it is probable that the outcome will generate a future economic benefit, and the cost can be measured reliably. Capitalized development cost is measured at the sum of expenditures for development incurred between when the foregoing conditions for capitalization are initially met and when the development is completed, and includes all directly attributable costs to the development process. Capitalized development cost is amortized using the straight-line method over the expected product life cycle of the developed product ranging mainly from 2 to 6 years. Expenditures on research and other development expenditures which do not meet the foregoing conditions are expensed as incurred. (Other intangible asset) Other intangible assets are initially measured at cost and principally amortized using the straight-line method over their estimated useful lives. Other intangible assets are mainly comprised of software for internal use whose estimated useful lives range from 3 to 5 years. The amortization method and useful lives of intangible assets are reviewed annually at each fiscal year end, and adjusted prospectively, if appropriate.
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Lease | (i) Lease At inception of a contract, Honda assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. When Honda has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use and the right to direct the use of the identified asset, the contract conveys the right to control the use of the identified asset. 1) Lease as a lessee A right-of-use right-of-use non-lease components, Honda has elected not to separate non-lease components and account for the lease and non-lease components as a single lease component. The right-of-use right-of-use The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, Honda’s incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise mainly the fixed payments (including the lease payments in an optional renewal period if Honda is reasonably certain to exercise the extension option) and the penalties for termination of a lease unless Honda is reasonably certain not to terminate early. After the initial recognition, the lease liability is measured by increasing the carrying amount to reflect interest that produces a constant periodic rate of interest on the remaining balance of the lease liability and reducing the carrying amount to reflect the lease payments. The lease liability is remeasured if Honda changes its assessment of whether it will exercise an extension or termination option. When the lease liability is remeasured, the amount of the remeasurement of the lease liability is recognized as an adjustment to the right-of-use asset. However, if the carrying amount of the right-of-use asset is reduced to zero and there is a further reduction in the measurement of the lease liability, any remaining amount of the remeasurement is recognized in profit or loss. 2) Lease as a lessor For a contract that is, or contains a lease, the lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset and the lease other than finance lease is classified as an operating lease. Honda assesses the lease classification of a sub-lease with reference to the right-of-use The finance subsidiaries of the Company engage in the business of leasing vehicles as a lessor. A receivable from customer held under a finance lease is initially recognized at the amount of net investment in the lease which is the gross investment in the lease discounted at the interest rate implicit in the lease, and included in receivables from financial services in the consolidated statements of financial position. Vehicles subject to operating leases are presented as equipment on operating leases in the consolidated statements of financial position. If a contract contains lease and
non-lease components, Honda applies IFRS 15 to allocate the consideration in the contract. |
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Impairment | (j) Impairment 1) Financial assets measured at amortized cost and debt securities classified into financial assets measured at fair value through other comprehensive income The allowance for impairment losses of financial assets measured at amortized cost other than trade receivables and debt securities classified into financial assets measured at fair value through other comprehensive income is measured at amounts according to the three-stage expected credit loss (ECL) model:
The allowance for impairment losses of trade receivables is continuously measured at amounts equal to lifetime ECL. Lifetime ECL represents ECL that results from all possible default events over the expected life of a financial asset. 12-month ECL is the portion of lifetime ECL that results from default events that are possible within 12 months after the reporting date. ECL is a probability-weighted estimate of the difference between the contractual cash flows and the cash flows that the entity expects to receive, discounted at the original effective interest rates. Receivables from financial services – Allowance for credit losses The allowance for credit losses is management’s estimate of expected credit loss on receivables from financial services. To determine whether credit risk has increased significantly, consumer finance receivables are assessed both individually and collectively. Individual assessments are based on delinquencies. Consumer finance receivables 30 days or greater past due have historically experienced increased default rates and therefore are considered to have a significant increase in credit risk. Collective assessments are performed for groups of consumer finance receivables with shared risk characteristics such as the period of initial recognition, collateral type, original term, and credit score considering relative changes in expected default rates since initial recognition. Dealer finance receivables are assessed at the individual dealership level to determine whether credit risk has increased significantly considering payment performance and other factors such as changes in the financial condition of the dealership and compliance with debt covenants. Our definition of default on receivables from financial services varies depending on internal risk management practices of each of our finance subsidiaries. Our most significant finance subsidiary located in the United States considers delinquencies of 60 days past due to be in default. Collection efforts on consumer finance receivables are escalated after becoming 60 days past due including repossession of the underlying vehicles if it has been determined that the borrower is unable to perform on their obligations. Defaulted consumer finance receivables are considered to be credit-impaired. Dealer finance receivables are considered to be credit-impaired when there is evidence we will be unable to collect all amounts due in accordance with the original contractual terms including significant financial difficulty of the dealership, a breach of contract, such as a default or delinquency, or bankruptcy. At the finance subsidiary in the United States, the estimated uncollectible portion of consumer finance receivables are written-off at 120 days past due or upon repossession of the underlying vehicle. Although various statutory regulations limit the length of time and circumstances when enforcement activities can be taken, in general, the outstanding contractual balances continue to be subject to enforcement activities for several years after write-offs. The portion of outstanding contractual balances that is estimated to be uncollectible reflects our expectations of collections from enforcement activities. Dealer finance receivables are written-off when there is no reasonable expectation of recovery. At the finance subsidiary in the United States, ECL of consumer finance receivables is measured for groups of financial assets with shared risk characteristics by reflecting historical results, current conditions and forward-looking factors such as unemployment rates, used vehicles prices, and consumer debt service burdens. 2) Non-financial assets and investments accounted for using the equity method At the end of the reporting period, the carrying amount of non-financial assets other than inventories and deferred tax assets (which are comprised mainly of equipment on operating leases, property, plant and equipment, and intangible assets) is assessed to determine whether or not there is any indication of impairment. If there is such an indication, the recoverable amount of such asset is estimated and compared with the carrying amount of the asset, as test of impairment. For investments accounted for using the equity method, the entire carrying amount of each investment in affiliates and joint ventures is tested for impairment as a single asset, when there is objective evidence that the investments accounted for using the equity method may be impaired. The recoverable amount of an individual asset or a cash-generating unit is the higher of fair value less costs to sell and value in use. Value in use is determined as the present value of future cash flows expected to be derived from an asset or a cash-generating unit. A cash-generating unit is determined as the smallest identifiable group of assets that generate cash inflows which are largely independent of cash inflows from other assets or a group of assets. When it is not possible to estimate the recoverable amount of the individual asset, the recoverable amount of the cash-generating unit to which the asset belongs is estimated. When the carrying amount of an asset or a cash-generating unit exceeds the recoverable amount, the carrying amount is reduced to the recoverable amount and an impairment loss is recognized in profit or loss. An impairment loss for a cash-generating unit is allocated to the assets on the basis of the relative carrying amount of each asset in the unit. An impairment loss recognized for an asset or a cash-generating unit in prior period is reversed, if there is any indication that the impairment loss may have decreased or may no longer exist, and when the recoverable amount of the asset exceeds the carrying amount. If this is the case, the carrying amount of the asset is increased to its recoverable amount, but the increased carrying amount does not exceed the carrying amount (net of depreciation or amortization) calculated on the basis that no impairment loss had occurred in the prior period.
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Provisions | (k) Provisions Provisions are recognized when Honda has present legal or constructive obligation as a result of past events, 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. Provisions are measured based on the best estimate of expenditure required to settle the present obligation at the end of the reporting period. Where the effect of the time value of money is material, a provision is measured at the present value of the expenditures required to settle the obligation. In calculating the present value, a
pre-tax rate that reflects current market assessment of the time value of money and the risks specific to the liability is used as the discount rate. |
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Employee Benefits | (l) Employee Benefits 1) Short-term employee benefits For short-term employee benefits including salaries, bonuses and paid annual leave, when the employees render related services, the amounts expected to be paid in exchange for those services are recognized as expenses. 2) Post-employment benefits Honda has various post-employment benefit plans including defined benefit plans and defined contribution plans. Defined benefit plans For defined benefit plans, the present value of defined benefit obligations less the fair value of plan assets is recognized as either liability or asset in the consolidated statements of financial position. The present value of defined benefit obligations and service cost are principally determined for each plan using the projected unit credit method. The discount rate is determined by reference to market yields at the end of the reporting period on high quality corporate bonds that is consistent with the currency and estimated term of the post-employment benefit obligation. Net interest on the net defined benefit liability (asset) for the reporting period is determined by multiplying the net defined benefit liability (asset) by the discount rate. Past service cost defined as the change in the present value of the defined benefit obligation resulting from a plan amendment or curtailment is recognized in profit or loss upon occurrence of the plan amendment or curtailment. Honda recognizes the difference arising from remeasurement of present value of the defined benefit obligations and the fair value of the plan assets in other comprehensive income when it is incurred, and reclassifies it immediately to retained earnings. Defined contribution plans For defined contribution plans, when the employees render related services, the contribution payables to defined contribution plan are recognized as expenses.
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Equity | (m) Equity 1) Common share Common share issued by the Company is classified as equity, and the proceeds from issuance of common share are included in common stock and capital surplus. 2) Treasury stock Treasury stock acquired by Honda is recognized at cost and deducted from equity. When treasury stock is sold, the consideration received is recognized as equity with the difference between the carrying amount and the consideration received included in capital surplus.
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Revenue Recognition | (n) Revenue Recognition 1) Sale of products Sales of products are reported by Motorcycle business, Automobile business, Life creation and other businesses. For details of the information on each business, see note 4. Honda recognizes revenue when control over products is transferred to customers. This transfer generally corresponds to the date of delivery of products to customers. Revenue is measured based on consideration specified in a contract with customer and excludes amounts collected on behalf of third parties. The total consideration in the contract is allocated to all products and services based on their stand-alone selling prices. The stand-alone selling prices are determined with reference to the selling prices of similar products or services and other reasonably available information. Honda provides dealer incentives, which generally represent discounts provided from Honda to the dealer. Honda also provides incentive programs generally in the form of below-market interest rate loans or lease programs for the retail customers to enhance dealer’s sales activities. The amount incurred for these programs is calculated based on the difference between the interest or lease rate offered to retail customers and the market-based interest or lease rate. These incentives are considered variable consideration when determining the transaction price and they are deducted from sales revenue recognized when products are sold to the dealers. Sales revenue is recognized only to the extent that it is highly probable that a significant reversal will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Customers usually pay consideration for sales of products within 30 days from the transfers of control over the products to customers. In addition, product sales contracts with customers include warranty clauses to guarantee that the products comply with agreed-upon specifications and Honda recognizes provisions for product warranties to meet these guarantees. For more information on product warranties, see note 17. 2) Rendering of financial services Interest income from receivables from financial services is recognized using the effective interest method. Finance receivable origination fees and certain direct origination costs are included in the calculation of the effective interest rate, and the net fee or cost is amortized using the effective interest method over the contractual term of the finance receivables. The finance subsidiaries of the Company offer financial services that contain a lease. Interest income from receivables held under a finance lease is recognized using the effective interest method. When Honda is the manufacturer or dealer lessor, sales revenue and the corresponding cost for a portion identified as sale of products is recognized in profit or loss in accordance with the policy on revenue recognition for sale of products. Revenue from operating leases is recognized on a straight-line basis over the term of the lease.
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Income Taxes | (o) Income Taxes Income tax expenses are presented as the aggregate amount of current taxes and deferred taxes. Current taxes and deferred taxes are recognized in profit or loss, except for the tax arising from a transaction which is recognized either in other comprehensive income or directly in equity. Current taxes are measured at the amount expected to be paid to (or recovered from) the taxation authorities in respect of the taxable profit (or tax loss) for the reporting period, using the tax rates and tax laws enacted or substantively enacted at the end of the reporting period. Deferred tax assets and liabilities are recognized for future tax consequences attributable to temporary differences between the carrying amount of assets or liabilities in the consolidated statements of financial position and the tax base of the assets or liabilities and carryforward of unused tax losses and tax credits. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, unused tax losses, and unused tax credits can be utilized. Deferred tax liabilities for taxable temporary differences related to investments in subsidiaries and affiliates, and interest in joint ventures are not recognized to the extent that Honda is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future. Deferred tax assets for deductible temporary differences arising from investments in subsidiaries and affiliates, and interest in joint ventures are recognized to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which they can be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the assets are realized or the liabilities are settled, based on the tax rates and tax laws enacted or substantively enacted at the end of the reporting period. The measurement of deferred tax assets and liabilities reflects the tax consequences that would follow from the manner in which Honda expects, at the end of reporting period, to recover or settle the carrying amount of its assets and liabilities. Honda reviews the carrying amount of deferred tax assets at the end of each reporting period, and reduces the carrying amount of deferred tax assets to the extent that it is no longer probable that sufficient taxable profit will be available to allow the benefit of part or all of that deferred tax assets to be utilized. Deferred tax assets and deferred tax liabilities are offset, only when Honda has a legally enforceable right to set off current tax assets against current tax liabilities, and the same taxation authority levies income taxes either on the same taxable entity or on different taxable entity which intends either to settle current tax liabilities and assets on a net basis or to realize the assets and settle the liabilities simultaneously. Honda reflects the effect of uncertainty in the consolidated financial statements if Honda concludes it is not probable that the taxation authority will accept the tax treatment.
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Earnings per Share | (p) Earnings per Share Basic earnings per share is calculated by dividing profit for the year attributable to owners of the parent by the weighted average number of common shares outstanding during the period.
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Segment Information (Tables) |
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Segment Information | Segment information as of and for the years ended March 31, 2020, 2021 and 2022 is as follows: As of and for the year ended March 31, 2020
As of and for the year ended March 31, 2021
Explanatory notes:
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Sales Revenue by Product or Service Groups | Sales revenue by product or service groups of Honda for the years ended March 31, 2020, 2021 and 2022 is as follows:
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Sales Revenue and Carrying Amounts of Non-current Assets Other Than Financial Instruments and Deferred Tax Assets Based on Location | The sales revenue and carrying amounts of non-current assets other than financial instruments, deferred tax assets and net defined benefit assets based on the location of the Company and its subsidiaries as of and for the years ended March 31, 2020, 2021 and 2022 are as follows: As of and for the year ended March 31, 2020
As of and for the year ended March 31, 2021
As of and for the year ended March 31, 2022
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Supplemental Geographical Information Based on Location | Supplemental geographical information based on the location of the Company and its subsidiaries As of and for the year ended March 31, 2020
As of and for the year ended March 31, 2021
As of and for the year ended March 31, 2022
Explanatory notes:
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Cash and Cash Equivalents (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Cash and Cash Equivalents | Cash and cash equivalents as of March 31, 2021 and 2022 consist of the following:
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Trade Receivables (Tables) - Trade receivables [member] |
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Financial Assets | Trade receivables as of March 31, 2021 and 2022 consist of the following:
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Changes in Allowance for Doubtful Accounts | The changes in the allowance for impairment losses on trade receivables for the years ended March 31, 2020, 2021 and 2022 are as follows:
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Receivables from Financial Services (Tables) |
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Summary of Receivables from Financial Services | Receivables from financial services as of March 31, 2021 and 2022 consist of the following:
Finance lease receivables The lease payments receivable under the finance leases by maturity as of March 31, 2021 and 2022 are as follows:
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Receivables from financial services [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in Allowance for Doubtful Accounts | The changes in the allowance for credit losses on receivables from financial services for the years ended March 31, 2020, 2021 and 2022 are as follows: For the years ended March 31, 2020, 2021 and 2022
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Other Financial Assets (Tables) |
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Mar. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Other Financial Assets | Other financial assets as of March 31, 2021 and 2022 consist of the following:
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Major Securities Included in Equity Securities Designated as Financial Assets Measured at Fair Value Through Other Comprehensive Income | Major securities included in the equity securities designated as financial assets measured at fair value through other comprehensive income as of March 31, 2021 and 2022 are as follows: As of March 31, 2021
As of March 31, 2022
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Other financial assets [member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Changes in Allowance for Impairment Losses | The changes in the allowance for impairment losses on other financial assets for the years ended March 31, 2020, 2021 and 2022 are as follows:
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Inventories (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Inventories | Inventories as of March 31, 2021 and 2022 consist of the following:
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Investments Accounted for Using the Equity Method (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Equity in Affiliates and Joint Ventures | Honda’s equity in affiliates and joint ventures as of March 31, 2021 and 2022 is as follows:
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Share of Comprehensive Income of Affiliates and Joint Ventures | Honda’s share of comprehensive income of affiliates and joint ventures for the years ended March 31, 2020, 2021 and 2022 is as follows:
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Summarized Consolidated Financial Information | Summarized consolidated financial information of Dongfeng Honda Automobile Co., Ltd. as of March 31, 2021 and 2022 is as follows:
Summarized consolidated financial information of Dongfeng Honda Automobile Co., Ltd. for the years ended March 31, 2020, 2021 and 2022 is as follows:
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Combined Financial Information of Affiliates and Joint Ventures | Combined financial information in respect of affiliates as of March 31, 2021 and 2022, and for the years ended March 31, 2020, 2021 and 2022 is as follows:
Combined financial information in respect of joint ventures as of March 31, 2021 and 2022, and for the years ended March 31, 2020, 2021 and 2022 is as follows:
The amounts of a joint venture that is material to the Company are included in above. |
Property, Plant and Equipment (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Future Minimum Lease Payments Expected to be Received under Non-cancellable Operating Leases to be Received | Future lease payments expected to be received under the operating leases by maturity as of March 31, 2021 and 2022 consist of the following:
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Summary of carrying amounts of the right-of-use assets | The changes in the carrying amounts of the right-of-use
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Equipment on operating leases [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Property, Plant and Equipment | The changes in cost, accumulated depreciation and impairment losses, and the carrying amounts of equipment on operating leases for the years ended March 31, 2021 and 2022 are as follows: (Cost)
(Accumulated depreciation and impairment losses)
(Carrying amount)
|
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Property, plant and equipment [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Property, Plant and Equipment | The changes in cost, accumulated depreciation and impairment losses, and the carrying amounts of property, plant and equipment for the years ended March 31, 2021 and 2022 are as follows: (Cost)
(Accumulated depreciation and impairment losses)
|
Intangible Assets (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Changes in Cost, Accumulated Amortization and Impairment Losses, and Carrying Amounts of Intangible Assets | The changes in cost, accumulated amortization and impairment losses, and carrying amounts of intangible assets for the years ended March 31, 2021 and 2022 are as follows: (Cost)
(Accumulated amortization and impairment losses)
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Trade Payables (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Trade Payables | Trade payables as of March 31, 2021 and 2022 consist of the following:
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Financing Liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pledged Assets for Financing Liabilities | Pledged assets for financing liabilities as of March 31, 2021 and 2022 are as follows:
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The Changes in Liabilities Arising from Financing Activities | The changes in liabilities arising from financing activities for the years ended March 31, 2020, 2021 and 2022 are as follows: For the year ended March 31, 2020
For the year ended March 31, 2021
Explanatory notes:
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Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Financing Liabilities | Financing liabilities presented in current liabilities as of March 31, 2021 and 2022 consist of the following:
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Interest Rates for Financing Liabilities | The weighted average interest rates for financing liabilities presented in current liabilities (excluding reclassification from non-current liabilities) as of March 31, 2021 and 2022 are as follows:
The interest rate range and payment due date for financing liabilities presented in non-current liabilities (including reclassification to current liabilities) as of March 31, 202 1 and 2022 are as follows:
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Non-current liabilities [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Financing Liabilities | Financing liabilities presented in non-current liabilities as of March 31, 2021 and 2022 consist of the following:
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Other Financial Liabilities (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Other Financial Liabilities | Other financial liabilities as of March 31, 2021 and 2022 consist of the following:
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Provisions (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Components of and Changes in Provisions | The components of and changes in provisions for the year ended March 31, 2022 are as follows:
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Current Liabilities and Non-current Liabilities of Provisions | Current liabilities and non-current liabilities of provisions as of March 31, 2021 and 2022 are as follows:
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Employee Benefits (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Changes in Present Value of Defined Benefit Obligations and Fair Value of Plan Assets | The changes in present value of defined benefit obligations and fair value of plan assets of the Company and certain of its consolidated subsidiaries for the years ended March 31, 2021 and 2022 are as follows:
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Fair Value of Japanese and Foreign Pension Plan Assets By Asset Category | The fair value of the Japanese and foreign pension plan assets by asset category as of March 31, 2021 and 2022 is as follows: As of March 31, 2021
As of March 31, 2022
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Significant Actuarial Assumptions Used to Determine Present Value of Defined Benefit Obligations | The significant actuarial assumptions used to determine the present value of defined benefit obligations as of March 31, 2021 and 2022 are as follows:
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Effects on Defined Benefit Obligations Due to Increase or Decrease in Discount Rate | The effects on defined benefit obligations of 0.5% increase or decrease in the discount rate as of March 31, 2021 and 2022 are as follows:
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Weighted Average Duration of Defined Benefit Obligations | The weighted average duration of defined benefit obligations as of March 31, 2021 and 2022 are as follows:
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Personnel Expenses Included in Consolidated Statements of Income | Personnel expenses included in the consolidated statements of income for the years ended March 31, 2020, 2021 and 2022 are as follows:
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Equity (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Liabilities and Equity | Financing liabilities and equity of Honda as of March 31, 2021 and 2022 are as follows:
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Total Number of Shares Authorized and Issued | The Company’s total number of shares authorized and issued for the years ended March 31, 2020, 2021 and 2022 are as follows:
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Total Number of Treasury Stock Held | The total number of the Company’s treasury stock held by Honda as of March 31, 2020, 2021 and 2022 is as follows:
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Changes in Other Components of Equity | The changes in other components of equity for the years ended March 31, 2020, 2021 and 2022 are as follows:
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Each Component of Other Comprehensive Income and Related Tax Effect Including Non-controlling Interests | Each component of other comprehensive income and related tax effect including non-controlling interests for the years ended March 31, 2020, 2021 and 2022 are as follows: For the year ended March 31, 2020
For the year ended March 31, 2021
For the year ended March 31, 2022
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Components of Other Comprehensive Income Included in Non-controlling Interests | The components of other comprehensive income included in non-controlling interests for the years ended March 31, 2020, 2021 and 2022 are as follows:
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Dividends from Retained Earnings | The amounts recognized as dividends of retained earnings for the years ended March 31, 2020, 2021 and 2022 are as follows: 1) Dividend payout For the year ended March 31, 2020
For the year ended March 31, 2021
For the year ended March 31, 2022
2) Dividends payable of which record date was in the year ended March 31, 2022, effective after the period
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Sales Revenue (Tables) |
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Summary of Reconciliation of the Disaggregated Sales Revenue with the Four Reportable Segments | The sales revenue disaggregated by geographical markets based on the location of the customer and the reconciliation of the disaggregated sales revenue with the four reportable segments for the years ended March 31, 2020, 2021 and 2022 are as follows: For the year ended March 31, 2020
For the year ended March 31, 2021
For the year ended March 31, 2022
Explanatory note:
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Summary of Information Regarding Receivables from Contracts with Customers and Contract Liabilities | The receivables from contracts with customers and contract liabilities for the years ended March 31, 2021 and 2022 are as follows:
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Summary of Revenue Expected to be Recognized in the Future Related to Performance Obligations that are Unsatisfied (or Partially Unsatisfied) | The revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2021 and 2022 are as follows:
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Summary of Assets Recognized Costs Obtain a Contract With Customer | The assets recognized from the costs to obtain a contract with a customer as of March 31, 2021 and 2022 are as follows:
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Research and Development (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Research and Development Costs | Research and development costs for the years ended March 31, 2020, 2021 and 2022 consist of the following:
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Finance Income and Finance Costs (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Finance Income and Finance Costs | Finance income and finance costs for the years ended March 31, 2020, 2021 and 2022 consist of the following:
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Income Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Profit Before Income Taxes and Income Tax Expense | Profit before income taxes and income tax expense for the years ended March 31, 2020, 2021 and 2022 consist of the following:
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Reconciliation of Statutory Income Tax Rate to Average Effective Tax Rate | The Japanese statutory income tax rate for the years ended March 31, 2020, 2021 and 2022 differs from the average effective tax rate for the following reasons:
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Components by Major Factor in Deferred Tax Assets and Deferred Tax Liabilities | The components by major factor in deferred tax assets and deferred tax liabilities as of March 31, 2021 and 2022 are as follows:
Explanatory note:
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Changes in Deferred Tax Assets and Deferred Tax Liabilities Recognized as Income Tax Expense in the Consolidated Statements of Income | The changes in deferred tax assets and deferred tax liabilities recognized as income tax expense in the consolidated statements of income for the years ended March 31, 2020, 2021 and 2022 are as follows:
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Deductible Temporary Differences, Carryforward of Unused Tax Losses and Unused Tax Credit for which Deferred Tax Assets are not Recognized | Deductible temporary differences, carryforward of unused tax losses and carryforward of unused tax credit for which deferred tax assets are not recognized as of March 31, 2021 and 2022 are as follows:
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Components by Expiry of the Carryforward of Unused Tax Losses for which Deferred Tax Assets are not Recognized | The components by expiry of the carryforward of unused tax losses for which deferred tax assets are not recognized as of March 31, 2021 and 2022 are as follows:
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Components by Expiry of Carryforward of Unused Tax Credits for which Deferred Tax Assets are not Recognized | The components by expiry of the carryforward of unused tax credit for which deferred tax assets are not recognized as of March 31, 2021 and 2022 are as follows:
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Earnings Per Share (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text block [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Earnings Per Share | Earnings per share attributable to owners of the parent for the years ended March 31, 2020, 2021 and 2022 are calculated based on the following information. There were no significant dilutive potential common shares outstanding for the years ended March 31, 2020, 2021 and 2022.
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Financial Risk Management (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Analysis of the Age of Receivables from Financial Services that are Past Due | The analysis of the age of receivables from financial services that are past due as of March 31, 2021 and 2022 is as follows:
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Summary of retail receivables included in consumer finance receivables | The balances of retail receivables included in consumer finance receivables as of March 31, 2021 and 2022 are as follows:
Explanatory note:
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Dealer Finance Receivables and Undiscounted Maximum Amounts of Potential Payment for Loan Commitments | The balances of dealer finance receivables and the undiscounted maximum amounts of potential payment for loan commitments by this risk rating as of March 31, 2021 and 2022 are as follows:
The undiscounted maximum amount of potential payment for guarantees of bank loans of employees for their housing costs as of March 31, 2021 is ¥8,343 million.
The undiscounted maximum amount of potential payment for guarantees of bank loans of employees for their housing costs as of March 31, 2022 is ¥7,098 million.
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Non-derivative Financial Liabilities by Maturity | Non-derivative financial liabilities by maturity as of March 31, 2021 and 2022 are as follows:
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Summary of Lease liabilities by maturity | Other financial liabilities include lease liabilities. Lease liabilities by maturity as of March 31, 2021 and 2022 are as follows:
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Derivative Financial Liabilities by Maturity | Derivative financial liabilities by maturity as of March 31, 2021 and 2022 are as follows:
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Currency risk [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market Risk Sensitivity Analysis | The following scenario demonstrates the impact of a 1% appreciation of the Japanese yen against the U.S. dollar on profit before income taxes, holding all variables other than the foreign currency exchange .
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Interest rate risk [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market Risk Sensitivity Analysis | The following scenario demonstrates the impact of a 100 basis point rise in interest rates on profit before income taxes, holding all variables other than interest rates constant.
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Credit facility [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unused Portions of Credit Facility | The unused portions of the credit facility of Honda’s commercial paper and medium-term note programs as of March 31, 2021 and 2022 are as follows:
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Committed lines of credit [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unused Portions of Credit Facility | The unused portions of the committed lines of credit extended by financial institutions to Honda as of March 31, 2021 and 2022 are as follows:
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Fair Value (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Measured at fair value on a recurring basis [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Assets and Financial Liabilities | Assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and 2022 consist of the following:
There were no transfers between Level 1 and Level 2 for the year ended March 31, 2021.
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Measured at fair value on a recurring basis [member] | Level 3 [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Assets and Financial Liabilities | The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the years ended March 31, 2021 and 2022 are as follows:
Explanatory notes:
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At cost [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Assets and Financial Liabilities | The carrying amounts and fair values of financial assets and financial liabilities measured at amortized cost as of March 31, 2021 and 2022 are as follows:
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Offsetting of Financial Assets and Financial Liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Offsetting Information Regarding Financial Assets and Financial Liabilities | The offsetting information regarding financial assets and financial liabilities as of March 31, 2021 and 2022 is as follows:
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Commitments and Contingent Liabilities (Tables) |
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||
Text block [Abstract] | |||||||||||||||||||||||||||||||||||||
Commitments for Purchases of Property, Plant and Equipment and Other Commitments | Commitments for purchases of property, plant and equipment and other commitments as of March 31, 2021 and 2022 are as follows:
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Related Parties (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Balances of Receivables and Payables with Affiliates and Joint Ventures | The balances of receivables and payables with affiliates and joint ventures as of March 31, 2021 and 2022 are as follows:
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Amount of Transactions with Affiliates and Joint Ventures | The amount of the transactions with affiliates and joint ventures for the years ended March 31, 2020, 2021 and 2022 are as follows:
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Compensation Paid to Directors | Compensation paid to the directors and executive officers of the Company for the years ended March 31, 2020, 2021 and 2022 are as follows:
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Major Consolidated Subsidiaries | Major consolidated subsidiaries as of March 31, 2022 are as follows:
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Segment Information - Additional Information (Detail) - Segments |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of operating segments [line items] | |||
Number of reportable segments | 4 | 4 | 4 |
Segment Information - Summary of Segment Information (Parenthetical) (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
||||
Disclosure of operating segments [line items] | ||||||
Segment assets | ¥ 23,973,153 | ¥ 21,921,030 | ¥ 20,461,465 | |||
Provisions for product warranties | 141,707 | |||||
Write-down of inventories recognized as an expense | 11,295 | 28,420 | 37,752 | |||
Unallocated corporate assets [member] | ||||||
Disclosure of operating segments [line items] | ||||||
Segment assets | 1,319,995 | 696,327 | 787,022 | |||
Product warranties [member] | ||||||
Disclosure of operating segments [line items] | ||||||
Provisions for product warranties | ¥ 118,378 | [1] | ¥ 272,076 | ¥ 212,275 | ||
|
Segment Information - Supplemental Geographical Information Based on Location (Parenthetical) (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
---|---|---|---|
Disclosure of geographical areas [line items] | |||
Assets | ¥ 23,973,153 | ¥ 21,921,030 | ¥ 20,461,465 |
Unallocated corporate assets [member] | |||
Disclosure of geographical areas [line items] | |||
Assets | ¥ 1,319,995 | ¥ 696,327 | ¥ 787,022 |
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
Mar. 31, 2019 |
---|---|---|---|---|
Cash and cash equivalents [abstract] | ||||
Cash and deposits | ¥ 2,654,447 | ¥ 2,037,392 | ||
Cash equivalents | 1,020,484 | 720,628 | ||
Total | ¥ 3,674,931 | ¥ 2,758,020 | ¥ 2,672,353 | ¥ 2,494,121 |
Trade Receivables - Summary of Trade Receivables (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
Mar. 31, 2019 |
---|---|---|---|---|
Disclosure of financial assets [line items] | ||||
Trade receivables | ¥ 896,768 | ¥ 801,814 | ||
Trade receivables [member] | ||||
Disclosure of financial assets [line items] | ||||
Allowance for impairment losses | (8,845) | (10,521) | ¥ (11,302) | ¥ (12,555) |
Gross carrying amount [member] | Trade accounts and notes receivable [member] | ||||
Disclosure of financial assets [line items] | ||||
Trade receivables | 793,022 | 689,347 | ||
Gross carrying amount [member] | Other [member] | ||||
Disclosure of financial assets [line items] | ||||
Trade receivables | ¥ 112,591 | ¥ 122,988 |
Trade Receivables - Changes in Allowance for Impairment Losses on Trade Receivables (Detail) - Trade receivables [member] - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of financial assets [line items] | |||
Balance at beginning of year | ¥ 10,521 | ¥ 11,302 | ¥ 12,555 |
Remeasurement | 260 | 516 | 589 |
Write-offs | (2,648) | (1,312) | (971) |
Exchange differences on translating foreign operations | 712 | 15 | (871) |
Balance at end of year | ¥ 8,845 | ¥ 10,521 | ¥ 11,302 |
Receivables from Financial Services - Gross Investment in Lease and Present Value of Minimum Lease Payments Receivable (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted lease payments receivable | ¥ 77,142 | ¥ 62,446 |
Unearned finance income | (4,603) | (3,829) |
Unguaranteed residual value | 62,086 | 59,255 |
Net investment in the lease | 134,625 | 117,872 |
Within 1 year [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Gross investment in the lease | 25,066 | 22,339 |
Between 1 and 2 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Gross investment in the lease | 25,569 | 22,566 |
Between 2 and 3 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Gross investment in the lease | 13,192 | 10,861 |
Between 3 and 4 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Gross investment in the lease | 9,335 | 5,297 |
Between 4 and 5 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Gross investment in the lease | 2,153 | 1,289 |
Later than 5 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Gross investment in the lease | ¥ 1,827 | ¥ 94 |
Receivables from Financial Services - Changes in Allowance for Credit Losses on Receivables from Financial Services (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Retail [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | ¥ 34,286 | ¥ 60,241 | ¥ 39,760 |
Remeasurement | 10,263 | (4,778) | 54,833 |
Write-offs | (12,256) | (20,733) | (31,436) |
Exchange differences on translating foreign operations | 4,474 | (444) | (2,916) |
Balance at end of year | 36,767 | 34,286 | 60,241 |
Finance lease [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 813 | 690 | 730 |
Remeasurement | (255) | 142 | 142 |
Write-offs | (97) | (107) | (130) |
Exchange differences on translating foreign operations | 26 | 88 | (52) |
Balance at end of year | 487 | 813 | 690 |
Wholesale [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 2,267 | 2,537 | 2,713 |
Remeasurement | (726) | (402) | 1,905 |
Write-offs | 30 | 18 | (1,784) |
Exchange differences on translating foreign operations | 238 | 114 | (297) |
Balance at end of year | 1,809 | 2,267 | 2,537 |
Financial Services receivables [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 37,366 | 63,468 | 43,203 |
Remeasurement | 9,282 | (5,038) | 56,880 |
Write-offs | (12,323) | (20,822) | (33,350) |
Exchange differences on translating foreign operations | 4,738 | (242) | (3,265) |
Balance at end of year | 39,063 | 37,366 | 63,468 |
12-month expected credit losses [member] | Retail [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 23,480 | 26,655 | 22,612 |
Remeasurement | (2,513) | (3,286) | 5,547 |
Write-offs | |||
Exchange differences on translating foreign operations | 2,822 | 111 | (1,504) |
Balance at end of year | 23,789 | 23,480 | 26,655 |
12-month expected credit losses [member] | Finance lease [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 470 | 481 | 534 |
Remeasurement | (339) | (65) | (15) |
Write-offs | |||
Exchange differences on translating foreign operations | 8 | 54 | (38) |
Balance at end of year | 139 | 470 | 481 |
12-month expected credit losses [member] | Wholesale [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 1,741 | 1,437 | 1,419 |
Remeasurement | (649) | 160 | 127 |
Write-offs | |||
Exchange differences on translating foreign operations | 84 | 144 | (109) |
Balance at end of year | 1,176 | 1,741 | 1,437 |
12-month expected credit losses [member] | Financial Services receivables [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 25,691 | 28,573 | 24,565 |
Remeasurement | (3,501) | (3,191) | 5,659 |
Write-offs | |||
Exchange differences on translating foreign operations | 2,914 | 309 | (1,651) |
Balance at end of year | 25,104 | 25,691 | 28,573 |
Lifetime expected credit losses [member] | Not credit impaired [member] | Retail [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 5,923 | 26,632 | 10,407 |
Remeasurement | (925) | (20,319) | 16,637 |
Write-offs | |||
Exchange differences on translating foreign operations | 516 | (390) | (412) |
Balance at end of year | 5,514 | 5,923 | 26,632 |
Lifetime expected credit losses [member] | Not credit impaired [member] | Finance lease [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 184 | 96 | 72 |
Remeasurement | (98) | 71 | 29 |
Write-offs | |||
Exchange differences on translating foreign operations | 6 | 17 | (5) |
Balance at end of year | 92 | 184 | 96 |
Lifetime expected credit losses [member] | Not credit impaired [member] | Wholesale [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 62 | 318 | 329 |
Remeasurement | (46) | (270) | 2 |
Write-offs | |||
Exchange differences on translating foreign operations | 1 | 14 | (13) |
Balance at end of year | 17 | 62 | 318 |
Lifetime expected credit losses [member] | Not credit impaired [member] | Financial Services receivables [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 6,169 | 27,046 | 10,808 |
Remeasurement | (1,069) | (20,518) | 16,668 |
Write-offs | |||
Exchange differences on translating foreign operations | 523 | (359) | (430) |
Balance at end of year | 5,623 | 6,169 | 27,046 |
Lifetime expected credit losses [member] | Credit impaired [member] | Retail [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 4,883 | 6,954 | 6,741 |
Remeasurement | 13,701 | 18,827 | 32,649 |
Write-offs | (12,256) | (20,733) | (31,436) |
Exchange differences on translating foreign operations | 1,136 | (165) | (1,000) |
Balance at end of year | 7,464 | 4,883 | 6,954 |
Lifetime expected credit losses [member] | Credit impaired [member] | Finance lease [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 159 | 113 | 124 |
Remeasurement | 182 | 136 | 128 |
Write-offs | (97) | (107) | (130) |
Exchange differences on translating foreign operations | 12 | 17 | (9) |
Balance at end of year | 256 | 159 | 113 |
Lifetime expected credit losses [member] | Credit impaired [member] | Wholesale [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 464 | 782 | 965 |
Remeasurement | (31) | (292) | 1,776 |
Write-offs | 30 | 18 | (1,784) |
Exchange differences on translating foreign operations | 153 | (44) | (175) |
Balance at end of year | 616 | 464 | 782 |
Lifetime expected credit losses [member] | Credit impaired [member] | Financial Services receivables [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 5,506 | 7,849 | 7,830 |
Remeasurement | 13,852 | 18,671 | 34,553 |
Write-offs | (12,323) | (20,822) | (33,350) |
Exchange differences on translating foreign operations | 1,301 | (192) | (1,184) |
Balance at end of year | ¥ 8,336 | ¥ 5,506 | ¥ 7,849 |
Other Financial Assets - Summary of Other Financial Assets (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of financial assets [line items] | ||
Other financial assets | ¥ 1,037,397 | ¥ 923,840 |
Current assets | 217,743 | 295,307 |
Non-current assets | 819,654 | 628,533 |
Financial assets measured at amortized cost [member] | Receivables other than trade receivables and receivables from financial services [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 166,936 | 147,472 |
Financial assets measured at amortized cost [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 79,176 | 173,302 |
Financial assets measured at amortized cost [member] | Guaranty deposits [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 11,499 | 12,006 |
Financial assets measured at amortized cost [member] | Restricted cash [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 53,290 | 49,166 |
Financial assets measured at amortized cost [member] | Other [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 4,352 | 13,612 |
Financial assets measured at amortized cost [member] | Allowance for impairment losses [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | (3,212) | (3,358) |
Financial assets measured at fair value through other comprehensive income [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 19,984 | 10,134 |
Financial assets measured at fair value through other comprehensive income [member] | Equity securities [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 468,783 | 344,205 |
Financial assets measured at fair value through profit or loss [member] | Derivatives [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 134,338 | 108,978 |
Financial assets measured at fair value through profit or loss [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | ¥ 102,251 | ¥ 68,323 |
Other Financial Assets - Summary of Changes in Allowance for Impairment Losses (Detail) - Other financial assets [member] - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | |||
Balance at beginning of year | ¥ 3,358 | ¥ 3,364 | ¥ 4,233 |
Remeasurement | 42 | 792 | 600 |
Write-offs | (191) | (805) | (1,463) |
Exchange differences on translating foreign operations | 3 | 7 | (6) |
Balance at end of year | ¥ 3,212 | ¥ 3,358 | ¥ 3,364 |
Other Financial Assets - Major Securities Included in Equity Securities Designated as Financial Assets Measured at Fair Value Through Other Comprehensive Income (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Contemporary Amperex Technology Co., Ltd. [member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | ¥ 226,938 | ¥ 124,782 |
GM Cruise Holdings LLC [member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | 105,916 | 94,324 |
Stanley Electric Co., Ltd. [member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | 21,463 | 30,431 |
Mitsubishi UFJ Financial Group, Inc. [member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | 11,026 | 8,581 |
Daido Steel Co., Ltd. [member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | 6,670 | |
SES AI Corporation | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | 8,307 | |
Tokio Marine Holdings, Inc. [member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | ¥ 7,789 | ¥ 5,753 |
Inventories - Summary of Inventories (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Classes of current inventories [abstract] | ||
Finished goods | ¥ 907,872 | ¥ 784,544 |
Work in process | 90,871 | 71,853 |
Raw materials | 919,805 | 689,203 |
Total | ¥ 1,918,548 | ¥ 1,545,600 |
Inventories - Additional Information (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Classes of current inventories [abstract] | |||
Write-down of inventories recognized as an expense | ¥ 11,295 | ¥ 28,420 | ¥ 37,752 |
Investments Accounted for Using the Equity Method - Equity in Affiliates and Joint Ventures (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
---|---|---|---|
Investments accounted for using the equity method [abstract] | |||
Investments accounted for using the equity method, Affiliates | ¥ 544,563 | ¥ 537,702 | |
Investments accounted for using the equity method, Joint ventures | 422,841 | 353,300 | |
Investments accounted for using the equity method, Total | 967,404 | 891,002 | ¥ 655,475 |
Honda's equity of undistributed earnings, Affiliates | 177,231 | 198,432 | |
Honda's equity of undistributed earnings, Joint ventures | 279,288 | 262,599 | |
Honda's equity of undistributed earnings, Total | ¥ 456,519 | ¥ 461,031 |
Investments Accounted for Using the Equity Method - Additional Information (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Jan. 01, 2021 |
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of investments accounted for using equity method [line items] | ||||
Proportion of ownership interest in joint venture | 50.00% | |||
Investments accounted for using equity method [member] | Target Companies [member] | Automobile business [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Reversal of impairment losses | ¥ 0 | ¥ 56,849 | ¥ 0 | |
Investments accounted for using equity method [member] | Hitachi Astemo Ltd [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Percentage Voting Interest | 33.40% |
Investments Accounted for Using the Equity Method - Share of Comprehensive Income of Affiliates and Joint Ventures (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of investments accounted for using equity method [line items] | |||
Profit for the year | ¥ 202,512 | ¥ 272,734 | ¥ 164,203 |
Other comprehensive income | 79,233 | 32,260 | (31,943) |
Comprehensive income for the year | 281,745 | 304,994 | 132,260 |
Affiliates [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Profit for the year | (17,844) | 53,511 | (434) |
Other comprehensive income | 26,673 | (1,197) | (5,758) |
Comprehensive income for the year | 8,829 | 52,314 | (6,192) |
Joint ventures [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Profit for the year | 220,356 | 219,223 | 164,637 |
Other comprehensive income | 52,560 | 33,457 | (26,185) |
Comprehensive income for the year | ¥ 272,916 | ¥ 252,680 | ¥ 138,452 |
Investments Accounted for Using the Equity Method - Summarized Consolidated Financial Information (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
Mar. 31, 2019 |
|
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | ¥ 8,841,425 | ¥ 7,579,091 | ||
Non-current assets | 15,131,728 | 14,341,939 | ||
Total assets | 23,973,153 | 21,921,030 | ¥ 20,461,465 | |
Current liabilities | 6,004,399 | 5,715,457 | ||
Non-current liabilities | 7,196,208 | 6,832,734 | ||
Total liabilities | 13,200,607 | 12,548,191 | ||
Total equity | 10,772,546 | 9,372,839 | 8,286,023 | ¥ 8,565,790 |
Cash and cash equivalents included in current assets | 3,674,931 | 2,758,020 | 2,672,353 | ¥ 2,494,121 |
Sales revenue | 14,552,696 | 13,170,519 | 14,931,009 | |
Depreciation and amortization | 1,476,908 | 1,425,118 | 1,461,403 | |
Income tax expense | 309,489 | 218,609 | 279,986 | |
Profit for the year | 760,701 | 695,444 | 509,932 | |
Other comprehensive income | 934,952 | 577,179 | (451,209) | |
Comprehensive income for the year | 1,695,653 | 1,272,623 | 58,723 | |
Honda's share of comprehensive income for the year | 281,745 | 304,994 | 132,260 | |
Dongfeng Honda Automobile Co Ltd [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 747,397 | 687,417 | ||
Non-current assets | 252,219 | 238,507 | ||
Total assets | 999,616 | 925,924 | ||
Current liabilities | 610,379 | 608,408 | ||
Non-current liabilities | 34,182 | 32,860 | ||
Total liabilities | 644,561 | 641,268 | ||
Total equity | 355,055 | 284,657 | ||
Carrying amount of its interest in the joint venture | 176,830 | 141,116 | ||
Cash and cash equivalents included in current assets | 301,839 | 332,031 | ||
Financial liabilities (excluding trade payables and provisions) included in current liabilities | 6,168 | 5,363 | ||
Sales revenue | 1,994,534 | 2,201,051 | 1,516,160 | |
Interest income | 10,653 | 9,412 | 8,019 | |
Depreciation and amortization | 25,996 | 23,055 | 18,870 | |
Income tax expense | 60,868 | 65,102 | 48,622 | |
Profit for the year | 182,989 | 197,217 | 130,327 | |
Other comprehensive income | 44,812 | 25,462 | (21,100) | |
Comprehensive income for the year | 227,801 | 222,679 | 109,227 | |
Honda's share of comprehensive income for the year | 114,508 | 111,393 | 54,667 | |
Dividend from the joint venture to Honda | 79,191 | 102,767 | 72,760 | |
Dongfeng Honda Automobile Co Ltd [member] | Equity attributable to owners of the parent [Member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Total equity | 177,527 | 142,328 | ||
Comprehensive income for the year | 113,901 | 111,340 | 54,614 | |
Dongfeng Honda Automobile Co Ltd [member] | Equity method adjustments [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Total equity | (697) | (1,212) | ||
Comprehensive income for the year | ¥ 607 | ¥ 53 | ¥ 53 |
Investments Accounted for Using the Equity Method - Combined Financial Information of Affiliates and Joint Ventures (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
Mar. 31, 2019 |
|
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | ¥ 8,841,425 | ¥ 7,579,091 | ||
Non-current assets | 15,131,728 | 14,341,939 | ||
Total assets | 23,973,153 | 21,921,030 | ¥ 20,461,465 | |
Current liabilities | 6,004,399 | 5,715,457 | ||
Non-current liabilities | 7,196,208 | 6,832,734 | ||
Total liabilities | 13,200,607 | 12,548,191 | ||
Total equity | 10,772,546 | 9,372,839 | 8,286,023 | ¥ 8,565,790 |
Sales revenue | 14,552,696 | 13,170,519 | 14,931,009 | |
Profit for the year | 760,701 | 695,444 | 509,932 | |
Affiliates [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 1,621,051 | 1,524,434 | ||
Non-current assets | 2,082,080 | 2,001,809 | ||
Total assets | 3,703,131 | 3,526,243 | ||
Current liabilities | 1,043,325 | 1,043,913 | ||
Non-current liabilities | 589,376 | 621,271 | ||
Total liabilities | 1,632,701 | 1,665,184 | ||
Total equity | 2,070,430 | 1,861,059 | ||
Sales revenue | 3,301,032 | 2,062,611 | 2,673,718 | |
Profit for the year | 81,398 | 5,988 | 78,347 | |
Affiliates [member] | Motorcycle business [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 64,324 | 54,369 | ||
Non-current assets | 28,330 | 27,677 | ||
Total assets | 92,654 | 82,046 | ||
Current liabilities | 25,819 | 25,399 | ||
Non-current liabilities | 5,003 | 3,167 | ||
Total liabilities | 30,822 | 28,566 | ||
Total equity | 61,832 | 53,480 | ||
Sales revenue | 173,696 | 122,605 | 160,557 | |
Profit for the year | 7,233 | 2,552 | 8,094 | |
Affiliates [member] | Automobile business [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 1,542,414 | 1,458,252 | ||
Non-current assets | 2,030,822 | 1,952,423 | ||
Total assets | 3,573,236 | 3,410,675 | ||
Current liabilities | 1,013,738 | 1,015,374 | ||
Non-current liabilities | 583,308 | 616,924 | ||
Total liabilities | 1,597,046 | 1,632,298 | ||
Total equity | 1,976,190 | 1,778,377 | ||
Sales revenue | 3,120,190 | 1,933,675 | 2,505,819 | |
Profit for the year | 73,169 | 2,593 | 69,339 | |
Affiliates [member] | Life creation and other businesses [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 14,313 | 11,813 | ||
Non-current assets | 22,928 | 21,709 | ||
Total assets | 37,241 | 33,522 | ||
Current liabilities | 3,768 | 3,140 | ||
Non-current liabilities | 1,065 | 1,180 | ||
Total liabilities | 4,833 | 4,320 | ||
Total equity | 32,408 | 29,202 | ||
Sales revenue | 7,146 | 6,331 | 7,342 | |
Profit for the year | 996 | 843 | 914 | |
Joint ventures [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 2,088,314 | 1,774,519 | ||
Non-current assets | 610,887 | 544,212 | ||
Total assets | 2,699,201 | 2,318,731 | ||
Current liabilities | 1,742,542 | 1,527,110 | ||
Non-current liabilities | 89,109 | 79,226 | ||
Total liabilities | 1,831,651 | 1,606,336 | ||
Total equity | 867,550 | 712,395 | ||
Sales revenue | 5,428,098 | 5,386,874 | 4,280,687 | |
Profit for the year | 438,912 | 436,377 | 328,603 | |
Joint ventures [member] | Motorcycle business [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 272,962 | 221,524 | ||
Non-current assets | 130,271 | 120,238 | ||
Total assets | 403,233 | 341,762 | ||
Current liabilities | 227,215 | 191,565 | ||
Non-current liabilities | 17,769 | 17,035 | ||
Total liabilities | 244,984 | 208,600 | ||
Total equity | 158,249 | 133,162 | ||
Sales revenue | 811,764 | 543,504 | 791,250 | |
Profit for the year | 62,907 | 33,115 | 63,819 | |
Joint ventures [member] | Automobile business [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 1,810,581 | 1,548,875 | ||
Non-current assets | 479,707 | 423,270 | ||
Total assets | 2,290,288 | 1,972,145 | ||
Current liabilities | 1,513,623 | 1,334,240 | ||
Non-current liabilities | 70,675 | 61,312 | ||
Total liabilities | 1,584,298 | 1,395,552 | ||
Total equity | 705,990 | 576,593 | ||
Sales revenue | 4,612,394 | 4,839,927 | 3,483,024 | |
Profit for the year | 375,642 | 403,088 | 264,216 | |
Joint ventures [member] | Life creation and other businesses [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 4,771 | 4,120 | ||
Non-current assets | 909 | 704 | ||
Total assets | 5,680 | 4,824 | ||
Current liabilities | 1,704 | 1,305 | ||
Non-current liabilities | 665 | 879 | ||
Total liabilities | 2,369 | 2,184 | ||
Total equity | 3,311 | 2,640 | ||
Sales revenue | 3,940 | 3,443 | 6,413 | |
Profit for the year | ¥ 363 | ¥ 174 | ¥ 568 |
Equipment on Operating Leases - Changes in Cost, Accumulated Depreciation and Impairment Losses, and the Carrying Amounts of Equipment on Operating Leases (Detail) - Equipment on operating leases [member] - JPY (¥) ¥ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | ¥ 4,919,916 | |
Ending balance | 5,159,129 | ¥ 4,919,916 |
Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 6,302,709 | 5,903,574 |
Additions | 2,026,098 | 2,001,898 |
Sales or disposal | (2,171,117) | (1,777,101) |
Exchange differences on translating foreign operations | 509,447 | 174,338 |
Other | ||
Ending balance | 6,667,137 | 6,302,709 |
Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (1,382,793) | (1,277,511) |
Depreciation | (879,196) | (821,963) |
Sales or disposal | 856,835 | 740,627 |
Exchange differences on translating foreign operations | (100,982) | (40,267) |
Other | (1,872) | 16,321 |
Ending balance | ¥ (1,508,008) | ¥ (1,382,793) |
Equipment on Operating Leases - Future Minimum Lease Payments Expected to be Received under Non-cancellable Operating Leases to be Received (Detail) - Equipment on operating leases [member] - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | ¥ 1,752,449 | ¥ 1,773,632 |
Within 1 year [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | 824,769 | 818,025 |
Between 1 and 2 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | 574,536 | 571,632 |
Between 2 and 3 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | 240,437 | 271,863 |
Between 3 and 4 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | 84,911 | 86,070 |
Between 4 and 5 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | 27,796 | 25,488 |
Later than 5 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | ¥ 0 | ¥ 554 |
Equipment on Operating Leases - Additional Information (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Operating Lease Income [Abstract] | ||
Operating lease income | ¥ 1,134,898 | ¥ 1,069,374 |
Property Plant and Equipment - Changes in Cost, Accumulated Depreciation and Impairment Losses, and the Carrying Amounts of Property, Plant and Equipment (Detail) - Property, plant and equipment [member] - JPY (¥) ¥ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | ¥ 3,021,514 | |
Ending balance | 3,079,407 | ¥ 3,021,514 |
Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 9,091,944 | 8,747,967 |
Additions | 366,829 | 390,081 |
Reclassification | ||
Sales or disposal | (313,221) | (242,535) |
Exchange differences on translating foreign operations | 585,907 | 205,184 |
Other | (2,218) | (8,753) |
Ending balance | 9,729,241 | 9,091,944 |
Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (6,070,430) | (5,696,263) |
Depreciation | (438,269) | (428,063) |
Sales or disposal | 275,951 | 199,925 |
Exchange differences on translating foreign operations | (413,586) | (141,796) |
Other | (3,500) | (4,233) |
Ending balance | (6,649,834) | (6,070,430) |
Land [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 612,115 | |
Ending balance | 622,553 | 612,115 |
Land [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 628,724 | 615,687 |
Additions | 8,473 | 8,534 |
Reclassification | 387 | 1,305 |
Sales or disposal | (4,151) | (3,469) |
Exchange differences on translating foreign operations | 11,585 | 6,735 |
Other | 454 | (68) |
Ending balance | 645,472 | 628,724 |
Land [member] | Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (16,609) | (10,517) |
Depreciation | (7,087) | (6,118) |
Sales or disposal | 1,403 | 2,031 |
Exchange differences on translating foreign operations | (235) | (263) |
Other | (391) | (1,742) |
Ending balance | (22,919) | (16,609) |
Buildings and structures [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,062,592 | |
Ending balance | 1,065,064 | 1,062,592 |
Buildings and structures [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 2,558,905 | 2,468,194 |
Additions | 26,268 | 28,538 |
Reclassification | 28,766 | 50,529 |
Sales or disposal | (33,722) | (30,366) |
Exchange differences on translating foreign operations | 123,536 | 47,479 |
Other | (5,487) | (5,469) |
Ending balance | 2,698,266 | 2,558,905 |
Buildings and structures [member] | Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (1,496,313) | (1,394,982) |
Depreciation | (88,928) | (89,997) |
Sales or disposal | 22,920 | 16,569 |
Exchange differences on translating foreign operations | (68,557) | (27,643) |
Other | (2,324) | (260) |
Ending balance | (1,633,202) | (1,496,313) |
Machinery and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,131,697 | |
Ending balance | 1,155,219 | 1,131,697 |
Machinery and equipment [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 5,687,117 | 5,441,813 |
Additions | 102,835 | 79,952 |
Reclassification | 199,242 | 233,463 |
Sales or disposal | (275,348) | (208,700) |
Exchange differences on translating foreign operations | 429,662 | 143,683 |
Other | 4,421 | (3,094) |
Ending balance | 6,147,929 | 5,687,117 |
Machinery and equipment [member] | Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (4,555,420) | (4,288,929) |
Depreciation | (342,254) | (331,948) |
Sales or disposal | 251,628 | 181,325 |
Exchange differences on translating foreign operations | (344,775) | (113,736) |
Other | (1,889) | (2,132) |
Ending balance | (4,992,710) | (4,555,420) |
Construction in progress [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 215,110 | |
Ending balance | 236,571 | 215,110 |
Construction in progress [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 217,198 | 222,273 |
Additions | 229,253 | 273,057 |
Reclassification | (228,395) | (285,297) |
Sales or disposal | ||
Exchange differences on translating foreign operations | 21,124 | 7,287 |
Other | (1,606) | (122) |
Ending balance | 237,574 | 217,198 |
Construction in progress [member] | Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (2,088) | (1,835) |
Depreciation | ||
Sales or disposal | ||
Exchange differences on translating foreign operations | (19) | (154) |
Other | 1,104 | (99) |
Ending balance | ¥ (1,003) | ¥ (2,088) |
Property, Plant and Equipment - Summary of Changes in the Carrying Amounts of the Right-of-Use Assets (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure Of Depreciation For The Right Of Use Assets [Line Items] | ||
Opening Balance | ¥ 295,330 | ¥ 306,042 |
Additions | 88,424 | 68,787 |
Depreciation | (68,295) | (62,203) |
Other | (7,759) | (17,296) |
Ending balance | 307,700 | 295,330 |
Land [member] | ||
Disclosure Of Depreciation For The Right Of Use Assets [Line Items] | ||
Opening Balance | 80,543 | 77,916 |
Additions | 8,283 | 8,488 |
Depreciation | (7,087) | (6,118) |
Other | (102) | 257 |
Ending balance | 81,637 | 80,543 |
Buildings and structures [member] | ||
Disclosure Of Depreciation For The Right Of Use Assets [Line Items] | ||
Opening Balance | 135,303 | 142,521 |
Additions | 18,952 | 24,270 |
Depreciation | (15,882) | (12,997) |
Other | (8,192) | (18,491) |
Ending balance | 130,181 | 135,303 |
Machinery and equipment [member] | ||
Disclosure Of Depreciation For The Right Of Use Assets [Line Items] | ||
Opening Balance | 79,484 | 85,605 |
Additions | 61,189 | 36,029 |
Depreciation | (45,326) | (43,088) |
Other | 535 | 938 |
Ending balance | ¥ 95,882 | ¥ 79,484 |
Intangible Assets - Changes in Cost, Accumulated Amortization and Impairment Losses, and Carrying Amounts of Intangible Assets (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | ¥ 818,763 | |
Ending balance | 849,507 | ¥ 818,763 |
Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 1,598,743 | 1,522,447 |
Additions | 19,832 | 30,469 |
Internally developed | 179,485 | 213,443 |
Sales or disposal | (146,791) | (188,201) |
Exchange differences on translating foreign operations | 34,987 | 18,092 |
Other | (2,823) | 2,493 |
Ending balance | 1,683,433 | 1,598,743 |
Accumulated amortization and impairment losses [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (779,980) | (762,013) |
Amortization | (159,443) | (175,092) |
Sales or disposal | 136,515 | 185,080 |
Exchange differences on translating foreign operations | (19,636) | (9,789) |
Other | (11,382) | (18,166) |
Ending balance | (833,926) | (779,980) |
Capitalized development costs [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 671,403 | |
Ending balance | 693,649 | 671,403 |
Capitalized development costs [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 1,108,616 | 1,083,525 |
Additions | ||
Internally developed | 159,174 | 201,889 |
Sales or disposal | (118,065) | (180,744) |
Exchange differences on translating foreign operations | 6,565 | 3,946 |
Other | ||
Ending balance | 1,156,290 | 1,108,616 |
Capitalized development costs [member] | Accumulated amortization and impairment losses [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (437,213) | (456,333) |
Amortization | (129,384) | (144,795) |
Sales or disposal | 118,065 | 180,744 |
Exchange differences on translating foreign operations | (1,288) | (906) |
Other | (12,821) | (15,923) |
Ending balance | (462,641) | (437,213) |
Software [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 100,118 | |
Ending balance | 102,782 | 100,118 |
Software [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 429,222 | 392,732 |
Additions | 8,597 | 19,233 |
Internally developed | 20,311 | 11,554 |
Sales or disposal | (15,760) | (6,028) |
Exchange differences on translating foreign operations | 22,365 | 10,655 |
Other | (2,484) | 1,076 |
Ending balance | 462,251 | 429,222 |
Software [member] | Accumulated amortization and impairment losses [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (329,104) | (293,356) |
Amortization | (29,290) | (29,646) |
Sales or disposal | 15,003 | 3,504 |
Exchange differences on translating foreign operations | (17,442) | (8,010) |
Other | 1,364 | (1,596) |
Ending balance | (359,469) | (329,104) |
Other [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 47,242 | |
Ending balance | 53,076 | 47,242 |
Other [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 60,905 | 46,190 |
Additions | 11,235 | 11,236 |
Internally developed | ||
Sales or disposal | (12,966) | (1,429) |
Exchange differences on translating foreign operations | 6,057 | 3,491 |
Other | (339) | 1,417 |
Ending balance | 64,892 | 60,905 |
Other [member] | Accumulated amortization and impairment losses [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (13,663) | (12,324) |
Amortization | (769) | (651) |
Sales or disposal | 3,447 | 832 |
Exchange differences on translating foreign operations | (906) | (873) |
Other | 75 | (647) |
Ending balance | ¥ (11,816) | ¥ (13,663) |
Trade Payables - Summary of Trade Payables (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of financial liabilities [line items] | ||
Trade payables | ¥ 1,236,233 | ¥ 1,088,061 |
Trade accounts and notes payable [Member] | ||
Disclosure of financial liabilities [line items] | ||
Trade payables | 1,047,623 | 943,833 |
Other [member] | ||
Disclosure of financial liabilities [line items] | ||
Trade payables | ¥ 188,610 | ¥ 144,228 |
Financing Liabilities - Financing Liabilities Presented in Current Liabilities (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of detailed information about borrowings [line items] | ||
Current financing liabilities | ¥ 906,543 | ¥ 1,299,347 |
Reclassification from non-current liabilities (Current portion) | 2,211,761 | 1,706,277 |
Total | 3,118,304 | 3,005,624 |
Commercial paper [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Current financing liabilities | 421,801 | 839,292 |
Loans [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Current financing liabilities | 434,675 | 424,788 |
Asset-backed securities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Current financing liabilities | ¥ 50,067 | ¥ 35,267 |
Financing Liabilities - Weighted Average Interest Rates for Financing Liabilities Presented in Current Liabilities (Excluding Reclassification from Non-current Liabilities) (Detail) |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Current borrowings [member] | Weighted average [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Weighted average interest rate | 1.01% | 0.50% |
Financing Liabilities - Financing Liabilities Presented in Non-current Liabilities (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of detailed information about borrowings [line items] | ||
Non-current financing liabilities | ¥ 7,196,013 | ¥ 6,421,638 |
Reclassification to current liabilities (Current portion) | (2,211,761) | (1,706,277) |
Total | 4,984,252 | 4,715,361 |
Loans [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current financing liabilities | 1,026,769 | 1,028,836 |
Medium-term notes [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current financing liabilities | 3,996,486 | 3,701,153 |
Corporate bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current financing liabilities | 1,035,379 | 657,068 |
Asset-backed securities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current financing liabilities | ¥ 1,137,379 | ¥ 1,034,581 |
Financing Liabilities - Interest Rate Range and Payment Due Date for Financing Liabilities Presented in Non-current Liabilities (Including Reclassification to Current Liabilities) (Detail) - Non-current liabilities [member] |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Loans [member] | Bottom of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 0.07% | 0.07% |
Payment due | 2022 | 2021 |
Loans [member] | Top of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 11.75% | 11.00% |
Payment due | 2046 | 2046 |
Medium-term notes [member] | Bottom of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 0.30% | 0.33% |
Payment due | 2022 | 2021 |
Medium-term notes [member] | Top of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 3.63% | 3.80% |
Payment due | 2031 | 2031 |
Corporate bonds [member] | Bottom of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 0.01% | 0.01% |
Payment due | 2022 | 2021 |
Corporate bonds [member] | Top of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 2.97% | 1.17% |
Payment due | 2032 | 2027 |
Asset-backed securities [member] | Bottom of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 0.11% | 0.11% |
Payment due | 2022 | 2021 |
Asset-backed securities [member] | Top of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 3.30% | 3.30% |
Payment due | 2025 | 2025 |
Financing Liabilities - Pledged Assets for Financing Liabilities (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Borrowings [abstract] | ||
Trade receivables | ¥ 15,298 | ¥ 19,789 |
Receivables from financial services | 1,101,778 | 1,086,786 |
Equipment on operating leases | 142,097 | 122,320 |
Property, plant and equipment | 2,548 | 2,138 |
Total | ¥ 1,261,721 | ¥ 1,231,033 |
Financing Liabilities - The Changes in Liabilities Arising from Financing Activities (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|||||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||||||
Changes in liabilities arising from financing activities, beginning balance | ¥ 8,004,531 | ¥ 7,811,341 | ¥ 7,690,237 | ||||||
Cash flows from financing activities | (311,323) | (96,734) | 264,017 | ||||||
Cash flows from operating activities | (1,296) | (5,446) | (10,001) | ||||||
Non-cash changes, Acquisitions | 84,413 | 67,716 | 78,923 | ||||||
Non-cash changes, Changes in foreign currency exchange rates | 614,998 | 280,543 | (217,190) | ||||||
Non-cash changes, Changes in fair value | 67,396 | (38,946) | 14,935 | ||||||
Non-cash changes, Other | 1,231 | (13,943) | (9,580) | ||||||
Changes in liabilities arising from financing activities, ending balance | 8,459,950 | 8,004,531 | 7,811,341 | ||||||
Short-term financing liabilities [member] | |||||||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||||||
Changes in liabilities arising from financing activities, beginning balance | 1,299,347 | 1,424,667 | 1,473,624 | ||||||
Cash flows from financing activities | (472,420) | (179,512) | (1,993) | ||||||
Cash flows from operating activities | |||||||||
Non-cash changes, Acquisitions | |||||||||
Non-cash changes, Changes in foreign currency exchange rates | 78,863 | 55,337 | (42,424) | ||||||
Non-cash changes, Changes in fair value | |||||||||
Non-cash changes, Other | 753 | (1,145) | (4,540) | ||||||
Changes in liabilities arising from financing activities, ending balance | 906,543 | 1,299,347 | 1,424,667 | ||||||
Long-term financing liabilities [member] | |||||||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||||||
Changes in liabilities arising from financing activities, beginning balance | 6,421,638 | 6,045,019 | 5,857,496 | ||||||
Cash flows from financing activities | 238,060 | 149,807 | 362,131 | ||||||
Cash flows from operating activities | |||||||||
Non-cash changes, Acquisitions | |||||||||
Non-cash changes, Changes in foreign currency exchange rates | 526,822 | 222,565 | (170,345) | ||||||
Non-cash changes, Changes in fair value | |||||||||
Non-cash changes, Other | 9,493 | 4,247 | (4,263) | ||||||
Changes in liabilities arising from financing activities, ending balance | 7,196,013 | 6,421,638 | 6,045,019 | ||||||
Lease liabilities [member] | |||||||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||||||
Changes in liabilities arising from financing activities, beginning balance | 317,429 | 330,040 | [1] | 334,540 | [1] | ||||
Cash flows from financing activities | (80,165) | (67,628) | (78,659) | [1] | |||||
Cash flows from operating activities | [1] | ||||||||
Non-cash changes, Acquisitions | 84,413 | 67,716 | 78,923 | [1] | |||||
Non-cash changes, Changes in foreign currency exchange rates | 6,096 | 4,346 | (3,987) | [1] | |||||
Non-cash changes, Changes in fair value | [1] | ||||||||
Non-cash changes, Other | (9,015) | (17,045) | (777) | [1] | |||||
Changes in liabilities arising from financing activities, ending balance | 318,758 | 317,429 | 330,040 | [1] | |||||
Derivative financial liabilities (assets) [member] | |||||||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||||||||
Changes in liabilities arising from financing activities, beginning balance | [2] | (33,883) | 11,615 | 24,577 | |||||
Cash flows from financing activities | [2] | 3,202 | 599 | (17,462) | |||||
Cash flows from operating activities | [2] | (1,296) | (5,446) | (10,001) | |||||
Non-cash changes, Acquisitions | [2] | ||||||||
Non-cash changes, Changes in foreign currency exchange rates | [2] | 3,217 | (1,705) | (434) | |||||
Non-cash changes, Changes in fair value | [2] | 67,396 | (38,946) | 14,935 | |||||
Non-cash changes, Other | [2] | ||||||||
Changes in liabilities arising from financing activities, ending balance | [2] | ¥ 38,636 | ¥ (33,883) | ¥ 11,615 | |||||
|
Financing Liabilities - The Changes in Liabilities Arising from Financing Activities (Parenthetical) (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
Apr. 01, 2019 |
---|---|---|---|
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Lease liabilities | ¥ 318,758 | ¥ 317,429 | |
IFRS 16 [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Lease liabilities | ¥ 272,232 |
Other Financial Liabilities - Summary of Other Financial Liabilities (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of financial liabilities [line items] | ||
Other financial liabilities | ¥ 518,983 | ¥ 462,954 |
Current liabilities | 236,900 | 182,145 |
Non-current liabilities | 282,083 | 280,809 |
Other financial liabilities | 518,983 | 462,954 |
Lease liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Other financial liabilities | 318,758 | 317,429 |
Other financial liabilities | 318,758 | 317,429 |
Financial liabilities measured at amortized cost [member] | ||
Disclosure of financial liabilities [line items] | ||
Other financial liabilities | 48,283 | 63,269 |
Other financial liabilities | 48,283 | 63,269 |
Financial liabilities measured at fair value through profit or loss [member] | Derivatives [member] | ||
Disclosure of financial liabilities [line items] | ||
Other financial liabilities | 151,942 | 82,256 |
Other financial liabilities | ¥ 151,942 | ¥ 82,256 |
Provisions - Components of and Changes in Provisions (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
||||
Disclosure of other provisions [line items] | ||||||
Beginning balance | ¥ 641,041 | |||||
Provision | 141,707 | |||||
Write-offs | (261,577) | |||||
Reversal | (38,486) | |||||
Exchange differences on translating foreign operations | 39,328 | |||||
Ending balance | 522,013 | ¥ 641,041 | ||||
Product warranties [member] | ||||||
Disclosure of other provisions [line items] | ||||||
Beginning balance | [1] | 481,023 | ||||
Provision | 118,378 | [1] | 272,076 | ¥ 212,275 | ||
Write-offs | [1] | (172,754) | ||||
Reversal | [1] | (36,882) | ||||
Exchange differences on translating foreign operations | [1] | 29,436 | ||||
Ending balance | [1] | 419,201 | 481,023 | |||
Other [member] | ||||||
Disclosure of other provisions [line items] | ||||||
Beginning balance | 160,018 | |||||
Provision | 23,329 | |||||
Write-offs | (88,823) | |||||
Reversal | (1,604) | |||||
Exchange differences on translating foreign operations | 9,892 | |||||
Ending balance | ¥ 102,812 | ¥ 160,018 | ||||
|
Provisions - Current Liabilities and Non-current Liabilities of Provisions (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of other provisions [abstract] | ||
Current liabilities | ¥ 268,388 | ¥ 362,151 |
Non-current liabilities | 253,625 | 278,890 |
Total | ¥ 522,013 | ¥ 641,041 |
Employee Benefits - Additional Information (Detail) ¥ in Millions |
12 Months Ended |
---|---|
Mar. 31, 2022
JPY (¥)
| |
Japanese plans [member] | |
Disclosure of defined benefit plans [line items] | |
Contribiution in pension plan | ¥ 19,919 |
Foreign plans [member] | |
Disclosure of defined benefit plans [line items] | |
Contribiution in pension plan | ¥ 21,057 |
Employee Benefits - Changes in Present Value of Defined Benefit Obligations and Fair Value of Plan Assets (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liabilities (assets) | ¥ (216,604) | ¥ (168,488) |
Japanese plans [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Effects of asset ceiling | ||
Net defined benefit liabilities (assets) | (93,031) | (60,455) |
Foreign plans [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Effects of asset ceiling | 35,321 | 2,774 |
Net defined benefit liabilities (assets) | 109,797 | 197,232 |
Present value of defined benefit obligations [member] | Japanese plans [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Balance at beginning of year | 1,305,054 | 1,357,044 |
Current service cost | 35,045 | 35,751 |
Past service cost | ||
Interest cost | 8,360 | 7,530 |
Plan participants' contributions | ||
Benefits paid | (72,562) | (48,459) |
Exchange differences on translating foreign operations | ||
Balance at end of year | 1,262,245 | 1,305,054 |
Remeasurements: | ||
Changes in demographic assumptions | 6,346 | (30,860) |
Changes in financial assumptions | (25,500) | (17,606) |
Other | 5,502 | 1,654 |
Present value of defined benefit obligations [member] | Foreign plans [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Balance at beginning of year | 1,104,894 | 1,143,911 |
Current service cost | 22,351 | 27,158 |
Past service cost | 9,941 | |
Interest cost | 29,822 | 29,445 |
Plan participants' contributions | 3,657 | 3,764 |
Benefits paid | (82,561) | (200,249) |
Exchange differences on translating foreign operations | 99,497 | 57,748 |
Balance at end of year | 1,087,526 | 1,104,894 |
Remeasurements: | ||
Changes in demographic assumptions | (777) | (11,669) |
Changes in financial assumptions | (85,754) | 51,885 |
Other | (3,603) | (7,040) |
Fair value of plan assets [member] | Japanese plans [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Balance at beginning of year | 1,365,509 | 1,187,881 |
Interest income | 8,865 | 6,645 |
Actual return on plan assets, excluding interest income | 21,172 | 194,475 |
Employer contributions | 20,484 | 21,770 |
Plan participants' contributions | ||
Benefits paid | (60,754) | (45,262) |
Exchange differences on translating foreign operations | ||
Balance at end of year | 1,355,276 | 1,365,509 |
Fair value of plan assets [member] | Foreign plans [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Balance at beginning of year | 910,436 | 848,503 |
Interest income | 24,981 | 22,458 |
Actual return on plan assets, excluding interest income | 50,833 | 126,176 |
Employer contributions | 17,404 | 49,487 |
Plan participants' contributions | 3,657 | 3,764 |
Benefits paid | (82,561) | (200,249) |
Exchange differences on translating foreign operations | 88,300 | 60,297 |
Balance at end of year | ¥ 1,013,050 | ¥ 910,436 |
Employee Benefits - Changes in Present Value of Defined Benefit Obligations and Fair Value of Plan Assets (Parenthetical) (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liabilities (assets) | ¥ 216,604 | ¥ 168,488 |
Employee Benefits - Fair Value of Japanese and Foreign Pension Plan Assets By Asset Category (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Japanese plans [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | ¥ 56,192 | ¥ 17,708 |
General accounts | 40,008 | 38,822 |
Separate accounts | 22,317 | 20,290 |
Other | (44,915) | (16,803) |
Total | 1,355,276 | 1,365,509 |
Japanese plans [member] | Real estate funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 402 | 404 |
Japanese plans [member] | Private equity funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Japanese plans [member] | Hedge funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 145,474 | 129,796 |
Japanese plans [member] | Commingled and other mutual funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 130,878 | 121,802 |
Japanese plans [member] | Japan [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 32,349 | 37,165 |
Debt securities | 65,388 | 63,856 |
Japanese plans [member] | United States [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 260,482 | 278,157 |
Debt securities | 153,289 | 155,351 |
Japanese plans [member] | Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 248,419 | 285,651 |
Debt securities | 244,993 | 233,310 |
Japanese plans [member] | Quoted, Market price in active market [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | 56,192 | 17,708 |
General accounts | ||
Separate accounts | ||
Other | 67 | 112 |
Total | 840,633 | 856,913 |
Japanese plans [member] | Quoted, Market price in active market [member] | Real estate funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Japanese plans [member] | Quoted, Market price in active market [member] | Private equity funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Japanese plans [member] | Quoted, Market price in active market [member] | Hedge funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Japanese plans [member] | Quoted, Market price in active market [member] | Commingled and other mutual funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 1,798 | 2,309 |
Japanese plans [member] | Quoted, Market price in active market [member] | Japan [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 32,349 | 37,137 |
Debt securities | 65,388 | 63,856 |
Japanese plans [member] | Quoted, Market price in active market [member] | United States [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 260,424 | 278,052 |
Debt securities | 2,795 | 3,867 |
Japanese plans [member] | Quoted, Market price in active market [member] | Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 248,143 | 285,412 |
Debt securities | 173,477 | 168,460 |
Japanese plans [member] | Unquoted, Market price in active market [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | ||
General accounts | 40,008 | 38,822 |
Separate accounts | 22,317 | 20,290 |
Other | (44,982) | (16,915) |
Total | 514,643 | 508,596 |
Japanese plans [member] | Unquoted, Market price in active market [member] | Real estate funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 402 | 404 |
Japanese plans [member] | Unquoted, Market price in active market [member] | Private equity funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Japanese plans [member] | Unquoted, Market price in active market [member] | Hedge funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 145,474 | 129,796 |
Japanese plans [member] | Unquoted, Market price in active market [member] | Commingled and other mutual funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 129,080 | 119,493 |
Japanese plans [member] | Unquoted, Market price in active market [member] | Japan [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 0 | 28 |
Debt securities | ||
Japanese plans [member] | Unquoted, Market price in active market [member] | United States [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 58 | 105 |
Debt securities | 150,494 | 151,484 |
Japanese plans [member] | Unquoted, Market price in active market [member] | Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 276 | 239 |
Debt securities | 71,516 | 64,850 |
Foreign plans [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | 15,147 | 17,736 |
General accounts | ||
Separate accounts | ||
Other | 32,158 | 52,369 |
Total | 1,013,050 | 910,436 |
Foreign plans [member] | Real estate funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 87,540 | 68,686 |
Foreign plans [member] | Private equity funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 191,196 | 148,038 |
Foreign plans [member] | Hedge funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 34,341 | 36,247 |
Foreign plans [member] | Commingled and other mutual funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 430,400 | 408,952 |
Foreign plans [member] | Japan [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 9,483 | 11,099 |
Debt securities | 575 | 343 |
Foreign plans [member] | United States [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 72,349 | 71,125 |
Debt securities | 81,155 | 45,842 |
Foreign plans [member] | Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 51,606 | 41,302 |
Debt securities | 7,100 | 8,697 |
Foreign plans [member] | Quoted, Market price in active market [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | 15,147 | 17,736 |
General accounts | ||
Separate accounts | ||
Other | 61 | 541 |
Total | 153,378 | 149,000 |
Foreign plans [member] | Quoted, Market price in active market [member] | Real estate funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Foreign plans [member] | Quoted, Market price in active market [member] | Private equity funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Foreign plans [member] | Quoted, Market price in active market [member] | Hedge funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Foreign plans [member] | Quoted, Market price in active market [member] | Commingled and other mutual funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 4,732 | 7,197 |
Foreign plans [member] | Quoted, Market price in active market [member] | Japan [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 9,483 | 11,099 |
Debt securities | ||
Foreign plans [member] | Quoted, Market price in active market [member] | United States [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 72,349 | 71,125 |
Debt securities | ||
Foreign plans [member] | Quoted, Market price in active market [member] | Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 51,606 | 41,302 |
Debt securities | ||
Foreign plans [member] | Unquoted, Market price in active market [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | ||
General accounts | ||
Separate accounts | ||
Other | 32,097 | 51,828 |
Total | 859,672 | 761,436 |
Foreign plans [member] | Unquoted, Market price in active market [member] | Real estate funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 87,540 | 68,686 |
Foreign plans [member] | Unquoted, Market price in active market [member] | Private equity funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 191,196 | 148,038 |
Foreign plans [member] | Unquoted, Market price in active market [member] | Hedge funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 34,341 | 36,247 |
Foreign plans [member] | Unquoted, Market price in active market [member] | Commingled and other mutual funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 425,668 | 401,755 |
Foreign plans [member] | Unquoted, Market price in active market [member] | Japan [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | ||
Debt securities | 575 | 343 |
Foreign plans [member] | Unquoted, Market price in active market [member] | United States [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | ||
Debt securities | 81,155 | 45,842 |
Foreign plans [member] | Unquoted, Market price in active market [member] | Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | ||
Debt securities | ¥ 7,100 | ¥ 8,697 |
Employee Benefits - Significant Actuarial Assumptions Used to Determine Present Value of Defined Benefit Obligations (Detail) |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Japanese plans [member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 0.80% | 0.70% |
Rate of salary increase | 1.50% | 1.50% |
Foreign plans [member] | Bottom of range [member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 2.80% | 2.10% |
Rate of salary increase | 2.00% | 2.00% |
Foreign plans [member] | Top of range [member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 4.00% | 3.40% |
Rate of salary increase | 3.60% | 3.10% |
Employee Benefits - Effects on Defined Benefit Obligations Due to Increase or Decrease in Discount Rate (Detail) - Discount rates [member] - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Japanese plans [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Effects on defined benefit obligations from a decrease in the discount rate | ¥ 93,079 | ¥ 99,814 |
Effects on defined benefit obligations from a increase in the discount rate | 83,077 | 88,788 |
Foreign plans [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Effects on defined benefit obligations from a decrease in the discount rate | 86,569 | 103,059 |
Effects on defined benefit obligations from a increase in the discount rate | ¥ 78,153 | ¥ 91,523 |
Employee Benefits - Effects on Defined Benefit Obligations Due to Increase or Decrease in Discount Rate (Parenthetical) (Detail) - Discount rates [member] |
Mar. 31, 2022 |
---|---|
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Percentage of decrease in the discount rate | 0.50% |
Percentage of increase in the discount rate | 0.50% |
Employee Benefits - Weighted Average Duration of Defined Benefit Obligations (Detail) |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Japanese plans [member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligations | 14 years | 14 years |
Foreign plans [member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligations | 14 years | 17 years |
Employee Benefits - Personnel Expenses Included in Consolidated Statements of Income (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of defined benefit plans [abstract] | |||
Personnel expenses | ¥ 1,502,364 | ¥ 1,470,748 | ¥ 1,605,553 |
Equity - Financial Liabilities and Equity (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
Mar. 31, 2019 |
---|---|---|---|---|
Equity and liabilities [abstract] | ||||
Financing liabilities | ¥ 8,102,556 | ¥ 7,720,985 | ||
Equity | ¥ 10,772,546 | ¥ 9,372,839 | ¥ 8,286,023 | ¥ 8,565,790 |
Equity - Total Number of Shares Authorized and Issued (Detail) - shares |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Total number of authorized shares | |||
Common shares, no par value | 7,086,000,000 | 7,086,000,000 | 7,086,000,000 |
Total number of issued shares | |||
Balance at beginning of year | 1,811,428,430 | 1,811,428,430 | 1,811,428,430 |
Changes during the year | |||
Balance at end of year | 1,811,428,430 | 1,811,428,430 | 1,811,428,430 |
Equity - Additional Information (Detail) |
12 Months Ended |
---|---|
Mar. 31, 2022 | |
Disclosure of classes of share capital [line items] | |
Percentage of cash dividends from retained earnings shall be appropriated as a capital reserve | 10.00% |
Percentage of capital reserve and legal reserve to common stock | 25.00% |
Bottom of range [member] | |
Disclosure of classes of share capital [line items] | |
Minimum percentage of paid-in amount or proceeds of issuance of shares allowed to be incorporated in common stock | 50.00% |
Equity - Total Number of Treasury Stock Held (Detail) - shares |
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
Mar. 31, 2019 |
---|---|---|---|---|
Disclosure of classes of share capital [line items] | ||||
Common shares | 1,811,428,430 | 1,811,428,430 | 1,811,428,430 | 1,811,428,430 |
Treasury stock [member] | ||||
Disclosure of classes of share capital [line items] | ||||
Common shares | 100,828,074 | 84,773,162 | 84,818,644 |
Equity - Changes in Other Components of Equity (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of reserves within equity [line items] | |||
Beginning balance | ¥ 9,372,839 | ¥ 8,286,023 | ¥ 8,565,790 |
Adjustment during the year | 934,952 | 577,179 | (451,209) |
Reclassification to retained earnings | |||
Ending balance | 10,772,546 | 9,372,839 | 8,286,023 |
Remeasurements of defined benefit plans [member] | |||
Disclosure of reserves within equity [line items] | |||
Beginning balance | |||
Adjustment during the year | 117,489 | 239,801 | (102,230) |
Reclassification to retained earnings | (117,489) | (239,801) | 102,230 |
Ending balance | 0 | ||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income [member] | |||
Disclosure of reserves within equity [line items] | |||
Beginning balance | 88,570 | 24,876 | 49,228 |
Adjustment during the year | 58,863 | 69,876 | (24,559) |
Reclassification to retained earnings | (1,713) | (6,182) | 207 |
Ending balance | 145,720 | 88,570 | 24,876 |
Exchange differences on translating foreign operations [member] | |||
Disclosure of reserves within equity [line items] | |||
Beginning balance | 108,140 | (139,515) | 165,155 |
Adjustment during the year | 736,578 | 247,655 | (304,670) |
Reclassification to retained earnings | 0 | ||
Ending balance | 844,718 | 108,140 | (139,515) |
Other components of equity [member] | |||
Disclosure of reserves within equity [line items] | |||
Beginning balance | 196,710 | (114,639) | 214,383 |
Adjustment during the year | 912,930 | 557,332 | (431,459) |
Reclassification to retained earnings | (119,202) | (245,983) | 102,437 |
Ending balance | ¥ 990,438 | ¥ 196,710 | ¥ (114,639) |
Equity - Each Component of Other Comprehensive Income and Related Tax Effect Including Non-controlling Interests (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Items that will not be reclassified to profit or loss, Before-tax: | |||
Remeasurements of defined benefit plans, Net changes, Before-tax | ¥ 153,785 | ¥ 327,604 | ¥ (132,188) |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Net changes, Before-tax | 76,909 | 93,450 | (33,565) |
Share of other comprehensive income of investments accounted for using the equity method, Net changes, Before-tax | 1,862 | 5,186 | (1,735) |
Items that may be reclassified subsequently to profit or loss, Before-tax: | |||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Amount incurred during the year, Before-tax | (915) | (107) | 356 |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Reclassification to profit or loss, Before-tax | 39 | 82 | (31) |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Net changes, Before-tax | (876) | (25) | 325 |
Exchange differences on translating foreign operations, Amount incurred during the year, Before-tax | 680,724 | 239,097 | (292,590) |
Exchange differences on translating foreign operations, Reclassification to profit or loss, Before-tax | 0 | (611) | |
Exchange differences on translating foreign operations, Net changes, Before-tax | 680,724 | 239,097 | (293,201) |
Share of other comprehensive income of investments accounted for using the equity method, Amount incurred during the year, Before-tax | 79,484 | 27,046 | (31,054) |
Share of other comprehensive income of investments accounted for using the equity method, Reclassification to profit or loss, Before-tax | (65) | (73) | |
Share of other comprehensive income of investments accounted for using the equity method, Net changes, Before-tax | 79,419 | 26,973 | (31,054) |
Total other comprehensive income, Before-tax | 991,823 | 692,285 | (491,418) |
Items that will not be reclassified to profit or loss, Tax benefit (expense): | |||
Remeasurements of defined benefit plans, Net changes, Tax benefit (expense) | (36,743) | (89,342) | 29,205 |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Net changes, Tax benefit (expense) | (18,274) | (25,847) | 10,204 |
Share of other comprehensive income of investments accounted for using the equity method, Net changes, Tax benefit (expense) | (76) | (276) | 185 |
Items that may be reclassified subsequently to profit or loss, Tax benefit (expense): | |||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Amount incurred during the year, Tax benefit (expense) | 203 | 1 | (47) |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Reclassification to profit or loss, Tax benefit (expense) | (9) | (19) | 1 |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Net changes, Tax benefit (expense) | 194 | (18) | (46) |
Exchange differences on translating foreign operations, Amount incurred during the year, Tax benefit (expense) | 0 | (176) | |
Exchange differences on translating foreign operations, Reclassification to profit or loss, Tax benefit (expense) | 0 | 176 | |
Exchange differences on translating foreign operations, Net changes, Tax benefit (expense) | 0 | ||
Share of other comprehensive income of investments accounted for using the equity method, Amount incurred during the year, Tax benefit (expense) | (1,972) | 377 | 661 |
Share of other comprehensive income of investments accounted for using the equity method, Reclassification to profit or loss, Tax benefit (expense) | 0 | ||
Share of other comprehensive income of investments accounted for using the equity method, Net changes, Tax benefit (expense) | (1,972) | 377 | 661 |
Total other comprehensive income, Tax benefit (expense) | (56,871) | (115,106) | 40,209 |
Items that will not be reclassified to profit or loss, Net-of-tax: | |||
Remeasurements of defined benefit plans, Net changes, Net-of-tax | 117,042 | 238,262 | (102,983) |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Net changes, Net-of-tax | 58,635 | 67,603 | (23,361) |
Share of other comprehensive income of investments accounted for using the equity method, Net changes, Net-of-tax | 1,786 | 4,910 | (1,550) |
Items that may be reclassified subsequently to profit or loss, Net-of-tax: | |||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Amount incurred during the year, Net-of-tax | (712) | (106) | 309 |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Reclassification to profit or loss, Net-of-tax | 30 | 63 | (30) |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Net changes, Net-of-tax | (682) | (43) | 279 |
Exchange differences on translating foreign operations, Amount incurred during the year, Net-of-tax | 680,724 | 239,097 | (292,766) |
Exchange differences on translating foreign operations, Reclassification to profit or loss, Net-of-tax | 0 | (435) | |
Exchange differences on translating foreign operations, Net changes, Net-of-tax | 680,724 | 239,097 | (293,201) |
Share of other comprehensive income of investments accounted for using the equity method, Amount incurred during the year, Net-of-tax | 77,512 | 27,423 | (30,393) |
Share of other comprehensive income of investments accounted for using the equity method, Reclassification to profit or loss, Net-of-tax | (65) | (73) | |
Share of other comprehensive income of investments accounted for using the equity method, Net changes, Net-of-tax | 77,447 | 27,350 | (30,393) |
Total other comprehensive income, net of tax | ¥ 934,952 | ¥ 577,179 | ¥ (451,209) |
Equity - Components of Other Comprehensive Income Included in Non-controlling Interests (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of analysis of other comprehensive income by item [line items] | |||
Remeasurements of defined benefit plans | ¥ 117,042 | ¥ 238,262 | ¥ (102,983) |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income | 58,635 | 67,603 | (23,361) |
Exchange differences on translating foreign operations | 680,724 | 239,097 | (293,201) |
Total | 934,952 | 577,179 | (451,209) |
Non-controlling interests [Member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Remeasurements of defined benefit plans | 565 | 1,030 | (753) |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income | (136) | 25 | (73) |
Exchange differences on translating foreign operations | 21,593 | 18,792 | (18,924) |
Total | ¥ 22,022 | ¥ 19,847 | ¥ (19,750) |
Equity - Dividends from Retained Earnings (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions |
May 31, 2022 |
Nov. 06, 2021 |
May 12, 2021 |
Feb. 09, 2021 |
Nov. 06, 2020 |
Aug. 05, 2020 |
May 12, 2020 |
Feb. 07, 2020 |
Nov. 08, 2019 |
Aug. 02, 2019 |
May 08, 2019 |
---|---|---|---|---|---|---|---|---|---|---|---|
Dividends 1 [abstract] | |||||||||||
Dividend payout, Total amount of dividends (millions of yen) | ¥ 95,130 | ¥ 93,272 | ¥ 44,909 | ¥ 32,818 | ¥ 18,999 | ¥ 48,363 | ¥ 48,932 | ¥ 49,287 | ¥ 49,287 | ¥ 49,287 | |
Dividend payout, Dividend per share (yen) | ¥ 55 | ¥ 54 | ¥ 26 | ¥ 19 | ¥ 11 | ¥ 28 | ¥ 28 | ¥ 28 | ¥ 28 | ¥ 28 | |
Dividend payout, Record date | Sep. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | |
Dividend payout, Effective date | Dec. 01, 2021 | Jun. 07, 2021 | Mar. 08, 2021 | Dec. 02, 2020 | Sep. 04, 2020 | Jun. 03, 2020 | Mar. 04, 2020 | Nov. 29, 2019 | Aug. 30, 2019 | Jun. 03, 2019 | |
Dividends payable, Total amount of dividends (millions of yen) | ¥ 111,256 | ||||||||||
Dividends payable, Dividend per share (yen) | ¥ 65 | ||||||||||
Dividends payable, Record date | Mar. 31, 2022 | ||||||||||
Dividends payable, Effective date | Jun. 06, 2022 |
Sales Revenue - Additional Information (Detail) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022
JPY (¥)
Segments
|
Mar. 31, 2021
JPY (¥)
Segments
|
Mar. 31, 2020
JPY (¥)
Segments
|
|
Receivables from contracts with customers: [abstract] | |||
Number of reportable segments | Segments | 4 | 4 | 4 |
Revenue recognized included in the contract liability at the beginning of the year | ¥ 199,902 | ¥ 182,339 | ¥ 186,581 |
Amortization of assets recognised cost | ¥ 39,682 | ¥ 33,242 | ¥ 35,324 |
Sales Revenue - Summary of Reconciliation of the Disaggregated Sales Revenue with the Four Reportable Segments (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Total | ¥ 14,552,696 | ¥ 13,170,519 | ¥ 14,931,009 | ||
External customers [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Total | 14,552,696 | 13,170,519 | 14,931,009 | ||
External customers [member] | Japan [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Total | 2,354,532 | 2,190,797 | 2,307,523 | ||
Operating segments [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Total | 14,790,927 | 13,415,264 | 15,205,564 | ||
Operating segments [member] | Motorcycle business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Total | 2,185,253 | 1,787,283 | 2,059,335 | ||
Operating segments [member] | Automobile business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Total | 9,360,593 | 8,779,349 | 10,194,638 | ||
Operating segments [member] | Financial services business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Total | 2,823,323 | 2,506,788 | 2,600,937 | ||
Operating segments [member] | Life creation and other businesses [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Total | 421,758 | 341,844 | 350,654 | ||
Operating segments [member] | External customers [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 13,147,538 | 11,838,950 | 13,570,587 | ||
Revenue arising from the other sources | [1] | 1,405,158 | 1,331,569 | 1,360,422 | |
Total | 14,552,696 | 13,170,519 | 14,931,009 | ||
Operating segments [member] | External customers [member] | Motorcycle business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 2,183,176 | 1,784,912 | 2,049,900 | ||
Revenue arising from the other sources | [1] | 2,077 | 2,371 | 9,435 | |
Total | 2,185,253 | 1,787,283 | 2,059,335 | ||
Operating segments [member] | External customers [member] | Automobile business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 9,130,227 | 8,554,631 | 9,956,024 | ||
Revenue arising from the other sources | [1] | 17,271 | 12,574 | 3,056 | |
Total | 9,147,498 | 8,567,205 | 9,959,080 | ||
Operating segments [member] | External customers [member] | Financial services business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 1,435,298 | 1,178,005 | 1,239,613 | ||
Revenue arising from the other sources | [1] | 1,385,369 | 1,316,289 | 1,347,352 | |
Total | 2,820,667 | 2,494,294 | 2,586,965 | ||
Operating segments [member] | External customers [member] | Life creation and other businesses [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 398,837 | 321,402 | 325,050 | ||
Revenue arising from the other sources | [1] | 441 | 335 | 579 | |
Total | 399,278 | 321,737 | 325,629 | ||
Operating segments [member] | External customers [member] | Japan [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 1,668,249 | 1,596,971 | 1,757,682 | ||
Operating segments [member] | External customers [member] | Japan [member] | Motorcycle business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 105,022 | 88,128 | 77,241 | ||
Operating segments [member] | External customers [member] | Japan [member] | Automobile business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 1,337,860 | 1,321,329 | 1,473,552 | ||
Operating segments [member] | External customers [member] | Japan [member] | Financial services business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 146,185 | 128,265 | 130,775 | ||
Operating segments [member] | External customers [member] | Japan [member] | Life creation and other businesses [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 79,182 | 59,249 | 76,114 | ||
Operating segments [member] | External customers [member] | North America [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 6,549,838 | 6,052,533 | 7,094,537 | ||
Operating segments [member] | External customers [member] | North America [member] | Motorcycle business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 230,766 | 197,155 | 203,822 | ||
Operating segments [member] | External customers [member] | North America [member] | Automobile business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 4,877,900 | 4,671,998 | 5,648,818 | ||
Operating segments [member] | External customers [member] | North America [member] | Financial services business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 1,289,076 | 1,049,739 | 1,108,827 | ||
Operating segments [member] | External customers [member] | North America [member] | Life creation and other businesses [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 152,096 | 133,641 | 133,070 | ||
Operating segments [member] | External customers [member] | Europe [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 600,987 | 500,536 | 556,791 | ||
Operating segments [member] | External customers [member] | Europe [member] | Motorcycle business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 202,254 | 146,948 | 144,392 | ||
Operating segments [member] | External customers [member] | Europe [member] | Automobile business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 319,340 | 290,326 | 359,166 | ||
Operating segments [member] | External customers [member] | Europe [member] | Financial services business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | |||||
Operating segments [member] | External customers [member] | Europe [member] | Life creation and other businesses [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 79,393 | 63,262 | 53,233 | ||
Operating segments [member] | External customers [member] | Asia [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 3,686,238 | 3,227,474 | 3,424,384 | ||
Operating segments [member] | External customers [member] | Asia [member] | Motorcycle business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 1,307,915 | 1,147,539 | 1,329,352 | ||
Operating segments [member] | External customers [member] | Asia [member] | Automobile business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 2,314,425 | 2,032,469 | 2,048,588 | ||
Operating segments [member] | External customers [member] | Asia [member] | Financial services business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 37 | 1 | 11 | ||
Operating segments [member] | External customers [member] | Asia [member] | Life creation and other businesses [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 63,861 | 47,465 | 46,433 | ||
Operating segments [member] | External customers [member] | Other regions [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 642,226 | 461,436 | 737,193 | ||
Operating segments [member] | External customers [member] | Other regions [member] | Motorcycle business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 337,219 | 205,142 | 295,093 | ||
Operating segments [member] | External customers [member] | Other regions [member] | Automobile business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | 280,702 | 238,509 | 425,900 | ||
Operating segments [member] | External customers [member] | Other regions [member] | Financial services business [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | |||||
Operating segments [member] | External customers [member] | Other regions [member] | Life creation and other businesses [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Revenue arising from contracts with customers | ¥ 24,305 | ¥ 17,785 | ¥ 16,200 | ||
|
Sales Revenue - Summary of Information Regarding Receivables from Contracts with Customers and Contract Liabilities (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Receivables from contracts with customers: [abstract] | ||
Trade receivables | ¥ 785,157 | ¥ 682,206 |
Contract liabilities: | ||
Other current liabilities | 261,049 | 232,580 |
Other noncurrent liabilities | ¥ 193,845 | ¥ 169,684 |
Sales Revenue - Summary of Revenue Expected to be Recognized in the Future Related to Performance Obligations that are Unsatisfied (or Partially Unsatisfied) (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total | ¥ 364,407 | ¥ 322,397 |
Within 1 year [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total | 127,377 | 113,924 |
Between 1 and 5 years [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total | 221,282 | 197,037 |
Later than 5 years [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total | ¥ 15,748 | ¥ 11,436 |
Sales Revenue - Summary of Assets Recognized Costs Obtain a Contract With Customer (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure - Sales Revenue - Summary of Assets Recognized Costs Obtain a Contract With Customer [Abstract] | ||
Assets recognized from the costs to obtain a contract with a customer | ¥ 128,864 | ¥ 103,887 |
Research and Development - Summary of Research and Development Costs (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Material income and expense [abstract] | |||
Research and development expenditures incurred during the reporting period | ¥ 804,025 | ¥ 780,065 | ¥ 821,478 |
Amount capitalized | (159,174) | (201,889) | (192,397) |
Amortization and impairment losses of capitalized development costs | 142,205 | 160,718 | 175,042 |
Total | ¥ 787,056 | ¥ 738,894 | ¥ 804,123 |
Finance Income and Finance Costs - Summary of Finance Income and Finance Costs (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Interest income: | |||
Financial assets measured at amortized cost | ¥ 22,847 | ¥ 18,146 | ¥ 47,679 |
Financial assets measured at fair value through other comprehensive income | 185 | 196 | 249 |
Financial assets measured at fair value through profit or loss | 2,595 | 1,463 | 1,484 |
Total | 25,627 | 19,805 | 49,412 |
Interest expense: | |||
Financial liabilities measured at amortized cost | (15,706) | (12,269) | (15,624) |
Other | (1,161) | (1,608) | (9,065) |
Total | (16,867) | (13,877) | (24,689) |
Dividends received: | |||
Financial assets measured at fair value through other comprehensive income | 4,777 | 3,372 | 5,169 |
Financial assets measured at fair value through profit or loss | 0 | 25 | |
Gains (losses) on derivatives: | |||
Financial assets and financial liabilities measured at fair value through profit or loss | (77,789) | 15,102 | (19,270) |
Gains (losses) on foreign exchange | 68,033 | (26,163) | (24,942) |
Other | (7,335) | (17,128) | 6,373 |
Total | (12,314) | (24,817) | (32,645) |
Total finance income and finance costs | ¥ (3,554) | ¥ (18,889) | ¥ (7,922) |
Income Taxes - Profit Before Income Taxes and Income Tax Expense (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of income taxes [Line Items] | |||
Profit (loss) before income taxes | ¥ 1,070,190 | ¥ 914,053 | ¥ 789,918 |
Income tax expense (benefit): | |||
Current taxes | 287,433 | 181,930 | 244,606 |
Deferred taxes | 22,056 | 36,679 | 35,380 |
Total | 309,489 | 218,609 | 279,986 |
Japan [member] | |||
Disclosure of income taxes [Line Items] | |||
Profit (loss) before income taxes | (42,213) | (32,954) | (63,390) |
Income tax expense (benefit): | |||
Current taxes | 9,539 | 7,236 | 11,036 |
Deferred taxes | (4,081) | (21,228) | 17,470 |
Total | 5,458 | (13,992) | 28,506 |
Foreign [member] | |||
Disclosure of income taxes [Line Items] | |||
Profit (loss) before income taxes | 1,112,403 | 947,007 | 853,308 |
Income tax expense (benefit): | |||
Current taxes | 277,894 | 174,694 | 233,570 |
Deferred taxes | 26,137 | 57,907 | 17,910 |
Total | ¥ 304,031 | ¥ 232,601 | ¥ 251,480 |
Income Taxes - Additional Information (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of income taxes [Line Items] | |||
Statutory income tax rate | 30.20% | 30.20% | 30.20% |
Deferred tax assets recognized by entities that have suffered a loss in either the preceding or current period | ¥ 26,109 | ¥ 19,647 | |
Aggregate amounts of temporary differences relating to investments in subsidiaries and interests in joint ventures for which deferred tax liabilities are not recognized | ¥ 6,323,299 | ¥ 5,331,437 | |
Japan [member] | |||
Disclosure of income taxes [Line Items] | |||
Statutory income tax rate | 30.20% | 30.20% | 30.20% |
Foreign [member] | Bottom of range [member] | |||
Disclosure of income taxes [Line Items] | |||
Statutory income tax rate | 16.00% | ||
Foreign [member] | Top of range [member] | |||
Disclosure of income taxes [Line Items] | |||
Statutory income tax rate | 34.00% |
Income Taxes - Reconciliation of Statutory Income Tax Rate to Average Effective Tax Rate (Detail) |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Reconciliation of average effective tax rate and applicable tax rate [abstract] | |||
Statutory income tax rate | 30.20% | 30.20% | 30.20% |
Difference in statutory income tax rates of foreign subsidiaries | (4.50%) | (5.20%) | (3.90%) |
Effects of investments accounted for using the equity method | (5.70%) | (9.00%) | (6.20%) |
Effects of undistributed earnings and withholding taxes on royalty | 7.10% | 7.80% | 8.60% |
Changes in unrecognized deferred tax assets | 1.40% | 1.20% | 7.80% |
Effects of income and expense not taxable and deductible for tax purpose | 0.00% | 0.30% | 0.80% |
Effects of tax credit | (0.90%) | (1.40%) | (3.00%) |
Other adjustments relating to prior years | (0.10%) | (0.10%) | (0.70%) |
Adjustments for the uncertain tax treatments on income taxes | 0.90% | (0.80%) | 0.20% |
Adjustments for the changes in income tax laws | 0.10% | 0.10% | 2.30% |
Other | 0.40% | 0.80% | (0.70%) |
Average effective tax rate | 28.90% | 23.90% | 35.40% |
Income Taxes - Components by Major Factor in Deferred Tax Assets and Deferred Tax Liabilities (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
||
---|---|---|---|---|
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets | ¥ 91,592 | ¥ 99,552 | ||
Deferred tax liabilities | 990,754 | 842,001 | ||
Gross carrying amount [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets | 480,919 | 521,975 | ||
Deferred tax liabilities | 1,380,081 | 1,264,424 | ||
Net deferred tax assets (liabilities) | (899,162) | (742,449) | ||
Gross carrying amount [member] | Inventories [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets | 44,029 | 33,616 | ||
Gross carrying amount [member] | Accrued expenses [Member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets | 36,567 | 61,376 | ||
Gross carrying amount [member] | Provisions [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets | 100,408 | 89,470 | ||
Gross carrying amount [member] | Property, plant and equipment [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets | 27,592 | 25,534 | ||
Deferred tax liabilities | 82,518 | 77,338 | ||
Gross carrying amount [member] | Intangible assets [Member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets | 12,017 | 11,170 | ||
Deferred tax liabilities | 195,542 | 194,083 | ||
Gross carrying amount [member] | Retirement benefit liabilities [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets | 67,120 | 82,072 | ||
Gross carrying amount [member] | Carryforward of unused tax losses [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets | 67,787 | 64,844 | ||
Gross carrying amount [member] | Carryforward of unused tax credit [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets | 22,285 | 36,020 | ||
Gross carrying amount [member] | Other [Member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets | 103,114 | 117,873 | ||
Gross carrying amount [member] | Other financial assets [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax liabilities | 61,580 | 38,027 | ||
Gross carrying amount [member] | Operating leases [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax liabilities | 846,978 | 751,892 | ||
Gross carrying amount [member] | Undistributed earnings [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax liabilities | 59,650 | 53,173 | ||
Gross carrying amount [member] | Other [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax liabilities | [1] | ¥ 133,813 | ¥ 149,911 | |
|
Income Taxes - Components by Major Factor in Deferred Tax Assets and Deferred Tax Liabilities (Parenthetical) (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | ¥ 990,754 | ¥ 842,001 |
Retirement benefit assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | ¥ 68,772 | ¥ 52,792 |
Income Taxes - Changes in Deferred Tax Assets and Deferred Tax Liabilities Recognized as Income Tax Expense in the Consolidated Statements of Income (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | ¥ 22,056 | ¥ 36,679 | ¥ 35,380 | ||
Inventories [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | (9,865) | (3,920) | 8,738 | ||
Provisions [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | (3,491) | (10,708) | 22,185 | ||
Property, plant and equipment [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | (3,738) | (6,955) | (3,503) | ||
Retirement benefit liabilities(assets) [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | (4,991) | (10,353) | 7,258 | ||
Operating leases [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | (35,308) | 37,506 | (3,697) | ||
Undistributed earnings [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | 4,198 | (2,885) | (1,059) | ||
Carryforward of unused tax losses [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | (1,608) | (7,695) | (6,378) | ||
Carryforward of unused tax credit [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | 16,102 | 15,695 | (8,423) | ||
Other [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | [1] | ¥ 60,757 | ¥ 25,994 | ¥ 20,259 | |
|
Income Taxes - Changes in Deferred Tax Assets and Deferred Tax Liabilities Recognized as Income Tax Expense in the Consolidated Statements of Income (Parenthetical) (Detail) ¥ in Millions |
12 Months Ended |
---|---|
Mar. 31, 2022
JPY (¥)
| |
Changes in deferred tax liability (asset) [abstract] | |
Income tax expenses recognized due to decrease of deferred tax assets arising from accrued expenses | ¥ 27,321 |
Income Taxes - Deductible Temporary Differences, Carryforward of Unused Tax Losses and Unused Tax Credit for which Deferred Tax Assets are not Recognized (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | ||
Deductible temporary differences | ¥ 553,778 | ¥ 519,457 |
Carryforward of unused tax losses | 693,323 | 514,420 |
Carryforward of unused tax credit | ¥ 549 | ¥ 912 |
Income Taxes - Components by Expiry of the Carryforward of Unused Tax Losses for which Deferred Tax Assets are not Recognized (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | ¥ 693,323 | ¥ 514,420 |
Within 1 year [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 3,603 | 24,886 |
Between 1 and 5 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 73,448 | 62,361 |
Between 5 and 20 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 256,340 | 246,941 |
Indefinite periods [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | ¥ 359,932 | ¥ 180,232 |
Income Taxes - Components by Expiry of Carryforward of Unused Tax Credits for which Deferred Tax Assets are not Recognized (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax credit | ¥ 549 | ¥ 912 |
Within 1 year [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax credit | 147 | 349 |
Between 1 and 5 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax credit | 259 | 371 |
Between 5 and 20 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax credit | 143 | 192 |
Indefinite periods [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax credit |
Earning Per Share - Summary of Earnings Per Share (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Earnings per share [abstract] | |||
Profit for the year attributable to owners of the parent | ¥ 707,067 | ¥ 657,425 | ¥ 455,746 |
Weighted average number of common shares outstanding, basic | 1,719,961,835 | 1,726,638,088 | 1,752,006,211 |
Basic earnings per share attributable to owners of the parent | ¥ 411.09 | ¥ 380.75 | ¥ 260.13 |
Financial Risk Management - Additional Information (Detail) - JPY (¥) |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Amount accrued for estimated losses | ¥ 0 | |
Undiscounted maximum amount of payment for guarantee obligations | 119,168,000,000 | ¥ 92,751,000,000 |
Guarantee of employee loans [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Undiscounted maximum amount of payment for guarantee obligations | ¥ 7,098,000,000 | ¥ 8,343,000,000 |
Consumer finance receivables [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Collateral values in excess for percentage of carrying amounts | 90.00% | 70.00% |
Dealer finance receivable [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Collateral values in excess for percentage of carrying amounts | 100.00% | 90.00% |
Percentage of appreciation of the Japanese yen against the U.S. dollar [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Sensitivity analysis, percentage | 1.00% | 1.00% |
Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Sensitivity analysis, percentage | 1.00% | 1.00% |
Financial Risk Management - Foreign Currency Exchange Rate Risk Sensitivity Analysis (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Percentage of appreciation of the Japanese yen against the U.S. dollar [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Impact on profit before income taxes | ¥ (1,780) | ¥ (1,097) |
Financial Risk Management - Interest Rate Risk Sensitivity Analysis (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Impact on profit before income taxes | ¥ (25,830) | ¥ (18,354) |
Financial Risk Management - Analysis of the Age of Receivables from Financial Services that are Past Due (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
||
---|---|---|---|---|
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | ¥ 5,434,496 | ¥ 5,414,550 | ||
Retail [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | [1] | 5,054,428 | 4,847,906 | |
Wholesale [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 284,506 | 486,138 | ||
Financial assets past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 276,982 | 233,560 | ||
Financial assets past due [member] | Less than 30 days [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 214,522 | 191,342 | ||
Financial assets past due [member] | 30-59 days past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 43,138 | 28,720 | ||
Financial assets past due [member] | 60-89 days past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 11,463 | 7,107 | ||
Financial assets past due [member] | 90 days and greater past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 7,859 | 6,391 | ||
Financial assets past due [member] | Retail [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 266,676 | 215,383 | ||
Financial assets past due [member] | Retail [member] | Less than 30 days [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 204,661 | 174,464 | ||
Financial assets past due [member] | Retail [member] | 30-59 days past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 43,051 | 27,923 | ||
Financial assets past due [member] | Retail [member] | 60-89 days past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 11,452 | 7,058 | ||
Financial assets past due [member] | Retail [member] | 90 days and greater past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 7,512 | 5,938 | ||
Financial assets past due [member] | Finance lease [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 582 | 484 | ||
Financial assets past due [member] | Finance lease [member] | Less than 30 days [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 200 | 71 | ||
Financial assets past due [member] | Finance lease [member] | 30-59 days past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 51 | 18 | ||
Financial assets past due [member] | Finance lease [member] | 60-89 days past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 7 | 21 | ||
Financial assets past due [member] | Finance lease [member] | 90 days and greater past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 324 | 374 | ||
Financial assets past due [member] | Wholesale [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 9,724 | 17,693 | ||
Financial assets past due [member] | Wholesale [member] | Less than 30 days [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 9,661 | 16,807 | ||
Financial assets past due [member] | Wholesale [member] | 30-59 days past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 36 | 779 | ||
Financial assets past due [member] | Wholesale [member] | 60-89 days past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | 4 | 28 | ||
Financial assets past due [member] | Wholesale [member] | 90 days and greater past due [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Receivables from financial services | ¥ 23 | ¥ 79 | ||
|
Financial Risk Management - Summary of Retail Receivables Included In Consumer Finance Receivables (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
||
---|---|---|---|---|
Disclosure Of Finance Receivables [Line Items] | ||||
Consumer finance receivables | ¥ 5,434,496 | ¥ 5,414,550 | ||
Retail [member] | ||||
Disclosure Of Finance Receivables [Line Items] | ||||
Consumer finance receivables | [1] | 5,054,428 | 4,847,906 | |
12-month expected credit losses [member] | Retail [member] | ||||
Disclosure Of Finance Receivables [Line Items] | ||||
Consumer finance receivables | [1] | 4,897,471 | 4,563,496 | |
Not credit impaired [member] | Lifetime expected credit losses [member] | Retail [member] | ||||
Disclosure Of Finance Receivables [Line Items] | ||||
Consumer finance receivables | [1] | 139,306 | 271,762 | |
Credit impaired [member] | Lifetime expected credit losses [member] | Retail [member] | ||||
Disclosure Of Finance Receivables [Line Items] | ||||
Consumer finance receivables | [1] | ¥ 17,651 | ¥ 12,648 | |
|
Financial Risk Management - Dealer Finance Receivables and Undiscounted Maximum Amounts of Potential Payment for Loan Commitments (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Dealer finance receivables: | ||
Dealer finance receivables | ¥ 5,434,496 | ¥ 5,414,550 |
Loan commitments: | ||
Loan commitments | 119,168 | 92,751 |
Group A [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 190,306 | 255,735 |
Loan commitments: | ||
Loan commitments | 95,485 | 68,050 |
Group B [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 94,200 | 230,403 |
Loan commitments: | ||
Loan commitments | 23,683 | 24,701 |
Wholesale [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 284,506 | 486,138 |
12-month expected credit losses [member] | ||
Loan commitments: | ||
Loan commitments | 119,168 | 92,751 |
12-month expected credit losses [member] | Group A [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 188,101 | 247,487 |
Loan commitments: | ||
Loan commitments | 95,485 | 68,050 |
12-month expected credit losses [member] | Group B [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 91,995 | 225,651 |
Loan commitments: | ||
Loan commitments | 23,683 | 24,701 |
12-month expected credit losses [member] | Wholesale [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 280,096 | 473,138 |
Lifetime expected credit losses [member] | Not credit impaired [member] | ||
Loan commitments: | ||
Loan commitments | ||
Lifetime expected credit losses [member] | Not credit impaired [member] | Group A [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 88 | 6,345 |
Loan commitments: | ||
Loan commitments | ||
Lifetime expected credit losses [member] | Not credit impaired [member] | Group B [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 2,133 | 4,562 |
Loan commitments: | ||
Loan commitments | ||
Lifetime expected credit losses [member] | Not credit impaired [member] | Wholesale [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 2,221 | 10,907 |
Lifetime expected credit losses [member] | Credit impaired [member] | ||
Loan commitments: | ||
Loan commitments | ||
Lifetime expected credit losses [member] | Credit impaired [member] | Group A [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 2,117 | 1,903 |
Loan commitments: | ||
Loan commitments | ||
Lifetime expected credit losses [member] | Credit impaired [member] | Group B [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 72 | 190 |
Loan commitments: | ||
Loan commitments | ||
Lifetime expected credit losses [member] | Credit impaired [member] | Wholesale [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | ¥ 2,189 | ¥ 2,093 |
Financial Risk Management - Unused Portions of the Credit Facility (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Commercial paper [member] | ||
Disclosure of unused portion of borrowing facility [line items] | ||
Unused portions of the credit facility | ¥ 1,190,631 | ¥ 760,677 |
Medium-term notes [member] | ||
Disclosure of unused portion of borrowing facility [line items] | ||
Unused portions of the credit facility | 1,291,612 | 1,976,173 |
Credit facility [member] | ||
Disclosure of unused portion of borrowing facility [line items] | ||
Unused portions of the credit facility | ¥ 2,482,243 | ¥ 2,736,850 |
Financial Risk Management - Unused Portions of the Committed Lines of Credit (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Commercial paper programs [member] | ||
Disclosure of unused portion of borrowing facility [line items] | ||
Unused portions of the committed lines of credit | ¥ 1,226,138 | ¥ 1,122,892 |
Other committed lines of credit [member] | ||
Disclosure of unused portion of borrowing facility [line items] | ||
Unused portions of the committed lines of credit | 67,976 | 65,472 |
Committed lines of credit [member] | ||
Disclosure of unused portion of borrowing facility [line items] | ||
Unused portions of the committed lines of credit | ¥ 1,294,114 | ¥ 1,188,364 |
Financial Risk Management - Non-derivative Financial Liabilities by Maturity (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade payables, carrying amount | ¥ 1,236,233 | ¥ 1,088,061 |
Financing liabilities, carrying amount | 8,102,556 | 7,720,985 |
Accrued expenses, carrying amount | 375,601 | 415,106 |
Other financial liabilities, carrying amount | 367,041 | 380,698 |
Non-derivative financial liabilities, carrying amount | 10,081,431 | 9,604,850 |
Trade payables, contractual cash flows | 1,236,233 | 1,088,061 |
Financing liabilities, contractual cash flows | 8,391,545 | 7,837,560 |
Accrued expenses, contractual cash flows | 375,601 | 415,106 |
Other financial liabilities, contractual cash flows | 394,420 | 409,408 |
Non-derivative financial liabilities, contractual cash flows | 10,397,799 | 9,750,135 |
Within 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade payables, contractual cash flows | 1,236,233 | 1,088,061 |
Financing liabilities, contractual cash flows | 3,218,988 | 3,083,901 |
Accrued expenses, contractual cash flows | 375,601 | 415,106 |
Other financial liabilities, contractual cash flows | 93,054 | 101,142 |
Non-derivative financial liabilities, contractual cash flows | 4,923,876 | 4,688,210 |
Between 1 and 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade payables, contractual cash flows | ||
Financing liabilities, contractual cash flows | 4,407,350 | 4,230,223 |
Accrued expenses, contractual cash flows | ||
Other financial liabilities, contractual cash flows | 94,837 | 86,972 |
Non-derivative financial liabilities, contractual cash flows | 4,502,187 | 4,317,195 |
Later than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade payables, contractual cash flows | ||
Financing liabilities, contractual cash flows | 765,207 | 523,436 |
Accrued expenses, contractual cash flows | ||
Other financial liabilities, contractual cash flows | 206,529 | 221,294 |
Non-derivative financial liabilities, contractual cash flows | ¥ 971,736 | ¥ 744,730 |
Financial Risk Management - Summary of Lease liabilities by maturity (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure Of Lease Liabilities By Maturity [Line Items] | ||
Lease liabilities | ¥ 318,758 | ¥ 317,429 |
Total contractual cash flows | 346,136 | 346,137 |
Within 1 year [member] | ||
Disclosure Of Lease Liabilities By Maturity [Line Items] | ||
Total contractual cash flows | 71,510 | 61,053 |
Between 1 and 5 years [member] | ||
Disclosure Of Lease Liabilities By Maturity [Line Items] | ||
Total contractual cash flows | 86,305 | 79,836 |
Later than 5 years [member] | ||
Disclosure Of Lease Liabilities By Maturity [Line Items] | ||
Total contractual cash flows | ¥ 188,321 | ¥ 205,248 |
Financial Risk Management - Derivative Financial Liabilities by Maturity (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative financial liabilities, contractual cash flows | ¥ 185,249 | ¥ 82,221 |
Within 1 year [member] | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative financial liabilities, contractual cash flows | 53,895 | 44,334 |
Between 1 and 5 years [member] | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative financial liabilities, contractual cash flows | 106,214 | 30,218 |
Later than 5 years [member] | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative financial liabilities, contractual cash flows | ¥ 25,140 | ¥ 7,669 |
Fair Value - Additional Information (Detail) - JPY (¥) |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of fair value measurement of assets [abstract] | ||
Percentage of auction rate securities guaranteed by government | 95.00% | |
Transfers out of Level 1 into Level 2 of fair value hierarchy | ¥ 0 | ¥ 0 |
Transfers out of Level 2 into Level 1 of fair value hierarchy | ¥ 0 | ¥ 0 |
Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
---|---|---|---|
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | ¥ 1,037,397 | ¥ 923,840 | |
Other financial liabilities | 518,983 | 462,954 | |
Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 79,176 | 173,302 | |
Measured at fair value on a recurring basis [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 725,356 | 531,640 | |
Other financial liabilities | 151,942 | 82,256 | |
Measured at fair value on a recurring basis [member] | Financial liabilities measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 66,644 | 17,343 | |
Measured at fair value on a recurring basis [member] | Financial liabilities measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 83,669 | 64,913 | |
Measured at fair value on a recurring basis [member] | Financial liabilities measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 1,629 | ||
Measured at fair value on a recurring basis [member] | Financial liabilities measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 151,942 | 82,256 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 15,674 | 43,782 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 114,016 | 60,367 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 4,648 | 4,829 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 134,338 | 108,978 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through profit or loss [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 102,251 | 68,323 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through other comprehensive income [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 19,984 | 10,134 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through other comprehensive income [member] | Equity securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 468,783 | 344,205 | |
Measured at fair value on a recurring basis [member] | Level 1 [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 378,582 | 260,725 | |
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial liabilities measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial liabilities measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial liabilities measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial liabilities measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through profit or loss [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 42,837 | 26,570 | |
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through other comprehensive income [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through other comprehensive income [member] | Equity securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 335,745 | 234,155 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 204,315 | 150,722 | |
Other financial liabilities | 151,942 | 82,256 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial liabilities measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 66,644 | 17,343 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial liabilities measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 83,669 | 64,913 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial liabilities measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 1,629 | ||
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial liabilities measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 151,942 | 82,256 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 15,674 | 43,782 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 114,016 | 60,367 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 129,690 | 104,149 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through profit or loss [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 54,641 | 36,439 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through other comprehensive income [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 19,984 | 10,134 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through other comprehensive income [member] | Equity securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 142,459 | 120,193 | |
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 4,648 | 4,829 | |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 4,773 | 5,314 | 5,224 |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Equity securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 133,038 | 110,050 | ¥ 99,508 |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial liabilities measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial liabilities measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial liabilities measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial liabilities measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 4,648 | 4,829 | |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 4,648 | 4,829 | |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through profit or loss [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 4,773 | 5,314 | |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through other comprehensive income [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through other comprehensive income [member] | Equity securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | ¥ 133,038 | ¥ 110,050 |
Fair Value - Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | ¥ 923,840 | |
Ending balance | 1,037,397 | ¥ 923,840 |
Debt securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | 173,302 | |
Ending balance | 79,176 | 173,302 |
Measured at fair value on a recurring basis [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | 531,640 | |
Ending balance | 725,356 | 531,640 |
Measured at fair value on a recurring basis [member] | Level 3 [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | 120,193 | |
Ending balance | 142,459 | 120,193 |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Derivatives [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | 4,829 | |
Profit or loss | (674) | 4,665 |
Other comprehensive income | ||
Purchases | ||
Sales | ||
Transfer to level 1 due to listing | ||
Exchange differences on translating foreign operations | 493 | 164 |
Ending balance | 4,648 | 4,829 |
Unrealized gains or losses included in profit or loss on assets | (674) | 4,665 |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Debt securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | 5,314 | 5,224 |
Profit or loss | 112 | (43) |
Other comprehensive income | ||
Purchases | ||
Sales | (1,124) | |
Transfer to level 1 due to listing | ||
Exchange differences on translating foreign operations | 471 | 133 |
Ending balance | 4,773 | 5,314 |
Unrealized gains or losses included in profit or loss on assets | 112 | (43) |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Equity securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | 110,050 | 99,508 |
Profit or loss | ||
Other comprehensive income | 17,973 | 3,748 |
Purchases | 7,075 | 7,701 |
Sales | (1,487) | (1,243) |
Transfer to level 1 due to listing | (1,158) | |
Exchange differences on translating foreign operations | 585 | 336 |
Ending balance | 133,038 | 110,050 |
Unrealized gains or losses included in profit or loss on assets |
Fair Value - Carrying Amounts and Fair Values of Financial Assets and Financial Liabilities Measured at Amortized Cost (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | ||
Receivables from financial services | ¥ 5,434,496 | ¥ 5,414,550 |
Debt securities | 1,037,397 | 923,840 |
Financing liabilities | 8,102,556 | 7,720,985 |
Debt securities [member] | ||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | ||
Debt securities | 79,176 | 173,302 |
Fair value [member] | ||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | ||
Receivables from financial services | 5,374,754 | 5,488,065 |
Financing liabilities | 7,984,057 | 7,809,379 |
Fair value [member] | Debt securities [member] | ||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | ||
Debt securities | ¥ 79,176 | ¥ 173,302 |
Offsetting of Financial Assets and Financial Liabilities - Offsetting Information Regarding Financial Assets and Financial Liabilities (Detail) - Derivatives [member] - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of detailed information about financial instruments [line items] | ||
Gross amounts of recognized financial assets | ¥ 134,338 | ¥ 108,978 |
Amounts offset in the consolidated statements of financial position, financial assets | ||
Net amounts presented in the consolidated statements of financial position, financial assets | 134,338 | 108,978 |
Amounts not offset due to not meeting offsetting criteria despite being subject to a master netting agreement or similar agreement, financial assets | (98,419) | (65,430) |
Net Amounts, financial assets | 35,919 | 43,548 |
Gross amounts of recognized financial liabilities | 151,942 | 82,256 |
Amounts offset in the consolidated statements of financial position, financial liabilities | ||
Net amounts presented in the consolidated statements of financial position, financial liabilities | 151,942 | 82,256 |
Amounts not offset due to not meeting offsetting criteria despite being subject to a master netting agreement or similar agreement, financial liabilities | (98,419) | (65,430) |
Net Amounts, financial liabilities | ¥ 53,523 | ¥ 16,826 |
Commitments and Contingent Liabilities - Commitments for Purchases of Property, Plant and Equipment and Other Commitments (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of contingent liabilities [abstract] | ||
Commitments for purchases of property, plant and equipment and other commitments | ¥ 60,527 | ¥ 55,571 |
Related Parties - Balances of Receivables and Payables with Affiliates and Joint Ventures (Detail) - JPY (¥) ¥ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of transactions between related parties [line items] | ||
Receivables | ¥ 380,687 | ¥ 322,199 |
Payables | 184,085 | 158,205 |
Affiliates [member] | ||
Disclosure of transactions between related parties [line items] | ||
Receivables | 34,317 | 29,067 |
Payables | 147,705 | 127,793 |
Joint ventures [member] | ||
Disclosure of transactions between related parties [line items] | ||
Receivables | 346,370 | 293,132 |
Payables | ¥ 36,380 | ¥ 30,412 |
Related Parties - Amount of Transactions with Affiliates and Joint Ventures (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of transactions between related parties [line items] | |||
Sales revenue | ¥ 1,146,557 | ¥ 1,073,662 | ¥ 832,511 |
Purchase | 1,370,387 | 1,166,044 | 1,408,199 |
Affiliates [member] | |||
Disclosure of transactions between related parties [line items] | |||
Sales revenue | 93,187 | 87,742 | 109,615 |
Purchase | 1,176,066 | 1,015,921 | 1,241,314 |
Joint ventures [member] | |||
Disclosure of transactions between related parties [line items] | |||
Sales revenue | 1,053,370 | 985,920 | 722,896 |
Purchase | ¥ 194,321 | ¥ 150,123 | ¥ 166,885 |
Related Parties - Compensation Paid to Directors (Detail) - JPY (¥) ¥ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Related party transactions [abstract] | |||
Remuneration | ¥ 696 | ¥ 683 | ¥ 691 |
STI (Short Term Incentive) | 188 | 95 | 101 |
LTI (Long Term Incentive) | 159 | 129 | 140 |
Total | ¥ 1,043 | ¥ 907 | ¥ 932 |
Related Parties - Major Consolidated Subsidiaries (Detail) |
12 Months Ended |
---|---|
Mar. 31, 2022 | |
Honda R&D Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda R&D Co., Ltd. |
Country of Incorporation | Japan |
Function | Research & Development |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Finance Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Finance Co., Ltd. |
Country of Incorporation | Japan |
Function | Finance |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
American Honda Motor Co., Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Company | American Honda Motor Co., Inc. |
Country of Incorporation | U.S.A. |
Function | Coordination of Subsidiaries Operation, Research & Development, Manufacturing and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Aero., Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Aero., Inc. |
Country of Incorporation | U.S.A. |
Function | Research & Development and Manufacturing |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
American Honda Finance Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Company | American Honda Finance Corporation |
Country of Incorporation | U.S.A. |
Function | Finance |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Development and Manufacturing of America, LLC [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Development and Manufacturing of America, LLC |
Country of Incorporation | U.S.A. |
Function | Research & Development and Manufacturing |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Aircraft Company, LLC [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Aircraft Company, LLC |
Country of Incorporation | U.S.A. |
Function | Research & Development, Manufacturing and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Canada Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Canada Inc. |
Country of Incorporation | Canada |
Function | Manufacturing and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Canada Finance Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Canada Finance Inc. |
Country of Incorporation | Canada |
Function | Finance |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda de Mexico, S.A. de C.V. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda de Mexico, S.A. de C.V. |
Country of Incorporation | Mexico |
Function | Manufacturing and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Motor Europe Limited [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Motor Europe Limited |
Country of Incorporation | U.K. |
Function | Coordination of Subsidiaries Operation and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda of the U.K. Manufacturing Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda of the U.K. Manufacturing Ltd. |
Country of Incorporation | U.K. |
Function | Manufacturing |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Finance Europe plc [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Finance Europe plc |
Country of Incorporation | U.K. |
Function | Finance |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Bank GmbH [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Bank GmbH |
Country of Incorporation | Germany |
Function | Finance |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Turkiye A.S [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Turkiye A.S |
Country of Incorporation | Turkey |
Function | Manufacturing and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Motor (China) Investment Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Motor (China) Investment Co., Ltd. |
Country of Incorporation | China |
Function | Coordination of Subsidiaries Operation and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Auto Parts Manufacturing Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Auto Parts Manufacturing Co., Ltd. |
Country of Incorporation | China |
Function | Manufacturing |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Motorcycle & Scooter India (Private) Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Motorcycle & Scooter India (Private) Ltd. |
Country of Incorporation | India |
Function | Manufacturing and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Cars India Limited [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Cars India Limited |
Country of Incorporation | India |
Function | Manufacturing and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
P.T. Honda Precision Parts Manufacturing [member] | |
Disclosure of subsidiaries [line items] | |
Company | P.T. Honda Precision Parts Manufacturing |
Country of Incorporation | Indonesia |
Function | Manufacturing |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
P.T. Honda Prospect Motor [member] | |
Disclosure of subsidiaries [line items] | |
Company | P.T. Honda Prospect Motor |
Country of Incorporation | Indonesia |
Function | Manufacturing and Sales |
Percentage Ownership | 51.00% |
Percentage Voting Interest | 51.00% |
Honda Malaysia Sdn Bhd [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Malaysia Sdn Bhd |
Country of Incorporation | Malaysia |
Function | Manufacturing and Sales |
Percentage Ownership | 51.00% |
Percentage Voting Interest | 51.00% |
Honda Philippines Inc [Member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Philippines Inc. |
Country of Incorporation | Philippines |
Function | Manufacturing and Sales |
Percentage Ownership | 99.60% |
Percentage Voting Interest | 99.60% |
Honda Taiwan Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Taiwan Co., Ltd. |
Country of Incorporation | Taiwan |
Function | Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Asian Honda Motor Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Asian Honda Motor Co., Ltd. |
Country of Incorporation | Thailand |
Function | Coordination of Subsidiaries Operation and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Leasing (Thailand) Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Leasing (Thailand) Co., Ltd. |
Country of Incorporation | Thailand |
Function | Finance |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Automobile (Thailand) Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Automobile (Thailand) Co., Ltd. |
Country of Incorporation | Thailand |
Function | Manufacturing and Sales |
Percentage Ownership | 89.00% |
Percentage Voting Interest | 89.00% |
Thai Honda Manufacturing Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Thai Honda Manufacturing Co., Ltd. |
Country of Incorporation | Thailand |
Function | Manufacturing and Sales |
Percentage Ownership | 72.50% |
Percentage Voting Interest | 72.50% |
Honda Vietnam Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Vietnam Co., Ltd. |
Country of Incorporation | Vietnam |
Function | Manufacturing and Sales |
Percentage Ownership | 70.00% |
Percentage Voting Interest | 70.00% |
Honda Motor de Argentina S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Motor de Argentina S.A. |
Country of Incorporation | Argentina |
Function | Manufacturing and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda South America Ltda. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda South America Ltda. |
Country of Incorporation | Brazil |
Function | Coordination of Subsidiaries Operation |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Banco Honda S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Banco Honda S.A. |
Country of Incorporation | Brazil |
Function | Finance |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Honda Automoveis do Brasil Ltda. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Automoveis do Brasil Ltda. |
Country of Incorporation | Brazil |
Function | Manufacturing and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
Moto Honda da Amazonia Ltda. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Moto Honda da Amazonia Ltda. |
Country of Incorporation | Brazil |
Function | Manufacturing and Sales |
Percentage Ownership | 100.00% |
Percentage Voting Interest | 100.00% |
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