Honda management says strong sales, lower incentives lift underlying earnings in first half ended September 2026
HMC•Honda management said first-half earnings through September 30 were about 230 billion yen above internal plans, with stronger sales and lower incentives contributing about 60 billion yen; second-half operating profit is expected to be about 300 billion yen below the first half.
1. First-half earnings
Honda management said earnings through September 30, 2026, were approximately 230 billion yen above internal plans, partly reflecting one-time gains. Stronger sales and lower incentives added about 60 billion yen to the upside, supported by motorcycles and North American hybrid demand.
2. Second-half outlook
Quality-related expenses were approximately 40 billion yen below plan because of timing differences, and management expects those costs in the second half. Lower sales and higher costs are expected to reduce second-half operating profit by approximately 300 billion yen versus the first half; management maintained its assessment of underlying automobile operating margins at around 5%.
