Financial Services business recorded revenue from customers of
JPY533.5bn (£2.6bn) for the twelve months to March 31 2008, up 30.2
per cent on the result from the same period last year.
Operating income rose by 2 per cent to JPY117.8bn (£574m), with
revenue growth offsetting increased selling, general and
administrative expenses.
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The lion’s share of Honda’s financial services businesses’ sales
came from the North American operation, Honda Finance Corp (see
table 1), where year-on-year net sales rose by 33 per cent to
JPY483.9bn (£2.4bn), although all international regional groups saw
sales increase, with particularly strong growth in Asia (excluding
Japan), up 57 per cent.
Its European business, Honda Finance Europe, grew net sales
by 5 per cent in the twelve months to March 31 2008 compared with
the same period the previous year.
Honda identified high levels of competition, increasingly from
“commercial banks and finance and leasing companies”, as a
potential risk in the future, along with “risks relating to
residual value, credit risk and cost of capital”.
|
Table 1: Financial Services business 
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|
Net sales (£m) |
|
|
|
|
|
Year ended Mar 31 |
Year ended Mar 31 |
|
|
Japan |
105 |
114 |
|
|
North America |
1,780 |
2,360 |
|
|
Europe |
62 |
65 |
|
|
Asia |
15 |
24 |
|
|
Other regions |
37 |
39 |
|
|
Total |
1,998 |
2,602 |
|
Motor Finance Issue: 42 – April 08
Published for the web: April 29 08 15:8
Last Updated: April 29 08 15:10
