1

FY12 3rd Quarter Financial Results

NSX Concept(North America)

Honda Motor Co., Ltd.January 31, 2012

2

FY12 3rd Quarter Financial Results & FY12 Financial Forecasts

Fumihiko IkeSenior Managing Officer and DirectorChief Operating Officer for Business Management Operations

- FY12 3rd Quarter Consolidated Financial Results - FY12 Financial Forecasts - Dividend

Kohei TakeuchiOperating Officer, General Manager of Accounting Division

- FY12 3rd Quarter Consolidated Financial Results Net Sales and Other Operating RevenueChange in Income before Income TaxesBusiness Segment InformationGeographical InformationChange in Equity in Income of AffiliatesConsolidated Capital Expenditures

- FY12 Financial Forecasts

3

（千台）ChangeFY12FY11

Unit (Sales)

- 11.8%1,0211,157 Power Products

- 2.9%830855 Automobiles

+ 6.3%3,0762,895 Motorcycles

3Q Results (Three Months)

- 18.5626.4545.01EPS attributable toHonda Motor Co., Ltd.(Yen)

ChangeFY12FY11

3Q Results (Three Months)Financial results

- 47.3%22.9 43.4 Equity in income of affiliates

- 41.2%47.6 81.1 Net income attributable to Honda Motor Co., Ltd.

- 55.5%58.4 131.5 Income before income taxes

- 64.7%44.2 125.6 Operating income

- 8.0%1,942.5 2,110.4 Net sales & other operating revenue

Yen up by7 yen105 112Euro

Yen up by6 yen77 83US Dollar

Outline of FY12 3rd Quarter Financial Results (Consolidated)

(thousands)

Financial Summary

Yen (billions)

Note : Shares which are based on calculation of EPS

approx.1,802,304,000 shares

(weighted average number of shares outstanding )

approx.1,802,300,000 shares

(weighted average number of shares outstanding )

Average Rates (Yen)

Financial Highlights

Honda achieved net income of 47.6 billion yen for the quarter.Despite the negative currency impact and adverse impact on the deferred income tax assets due to the change in income tax laws in Japan, the recovery of automobile sales in major markets, solid growth of motorcycle business inemerging markets and the companywide effort to reduce costs and expenses, helped absorb the negative impact caused by the flood in Thailand.

Unit Sales:Motorcycle:

Automobile:

Power Products:

Increased in all regions except Europe

Increased in Japan and North AmericaDecreased mainly in Asia and Other regions due to flooding in ThailandDecreased in all regions mainly due to flooding in Thailand

Net sales & other operating revenue-Increased in motorcycle business -Decreased in automobile business due to the impact of flooding in Thailand

-Negative currency translation effects

Operating income-The negative change in sales volume and model mix, due to the impact of flooding in Thailand

-Increased cost per unit due to decreased production-Increased raw material costs-Negative currency effect due to appreciation of the Japanese yen

4

- 193.2077.62270.82

ChangeFY12FY11

+ 1.2%3,8093,763

- 19.0%2,1492,652

+ 7.0%9,1038,511

Nine Months Results

ChangeFY12FY11

Nine Months Results

- 41.5%67.1114.7

- 71.4%139.8489.5

- 70.3%164.3553.9

- 77.2%119.3523.5

- 17.6%5,543.06,723.7

Yen up by 4 yen110114

Yen up by 9 yen7887

Outline of Nine Months Financial Results (Consolidated)

（千台）ChangeFY12FY11

Unit (Sales)

- 11.8%1,0211,157 Power Products

- 2.9%830855 Automobiles

+ 6.3%3,0762,895 Motorcycles

3Q Results (Three Months)

- 18.5626.4545.01EPS attributable toHonda Motor Co., Ltd.(Yen)

ChangeFY12FY11

3Q Results (Three Months)Financial results

- 47.3%22.9 43.4 Equity in income of affiliates

- 41.2%47.6 81.1 Net income attributable to Honda Motor Co., Ltd.

- 55.5%58.4 131.5 Income before income taxes

- 64.7%44.2 125.6 Operating income

- 8.0%1,942.5 2,110.4 Net sales & other operating revenue

Yen up by7 yen105 112Euro

Yen up by6 yen77 83US Dollar

(thousands)

Yen (billions)

Note : Shares which are based on calculation of EPS

approx.1,802,304,000 shares

(weighted average number of shares outstanding )

approx.1,802,300,000 shares

(weighted average number of shares outstanding )

Average Rates (Yen)

approx.1,802,300,000 shares

(weighted average number of shares outstanding )

approx.1,807,578,000 shares

(weighted average number of shares outstanding )

5

Change

- 319.0

- 44.7

- 380.5

- 369.7

- 1,086.8

amount

215.0

95.0

250.0

200.0

7,850.0

FY12Revised Forecasts

- 32.0%139.7Equity in income of affiliates

- 59.7%

- 60.4%

- 64.9%

- 12.2%

%

534.0 Net income attributable to Honda Motor Co., Ltd.

630.5Income before income taxes

569.7Operating income

8,936.8Net sales & other operating revenue

FY11Results

- 176.38119.29295.67EPS attributable toHonda Motor Co., Ltd. (Yen)

106

78

Yen up by 8 yen

Yen up by 8 yen

114Euro

86US Dollar

FY12 Financial Forecasts (Consolidated)Yen （billions）

Note : Shares which are based on calculation of EPS

approx.1,806,360,000 shares

approx.1,802,300,000 shares

(weighted average number of shares outstanding )

(weighted average number of shares outstanding )

Average Rates (Yen)

6

Net income

Ordinary income

Operating income

Net sales

Change

- 42.3%

- 84.8%

－

- 5.3%

%amountFY12

Revised ForecastsFY11Results

50.0

35.0

- 150.0

2,760.0

- 36.6

- 194.7

- 163.9

- 155.4

86.6

229.7

13.9

2,915.4

Euro

US Dollar

106

78

Yen up by 8 yen

Yen up by 8 yen

114

86

FY12 Financial Forecasts (Unconsolidated)

Yen （billions）

Average Rates (Yen)

7

+ 3

( ± 0 )( 15 ) 15 4th quarter End

± 015 153rd quarter End

15121st quarter End + 3

15 122nd quarter End

Increase/Decrease from

FY11 Results

( + 6 )54

FY11Results

( 60 )Fiscal Year

FY12Results

(Projections)

－

－

－

－

－

Dividend

(Yen)

Dividend per shareChange from

previous forecasts

as of Oct. 31

8

FY12 3rd Quarter Financial Results & FY12 Financial Forecasts

Fumihiko IkeSenior Managing Officer and DirectorChief Operating Officer for Business Management Operations

- FY12 3rd Quarter Consolidated Financial Results - FY12 Financial Forecasts - Dividend

Kohei TakeuchiOperating Officer, General Manager of Accounting Division

- FY12 3rd Quarter Consolidated Financial Results Net Sales and Other Operating RevenueChange in Income before Income TaxesBusiness Segment InformationGeographical InformationChange in Equity in Income of AffiliatesConsolidated Capital Expenditures

- FY12 Financial Forecasts

9

（+ 12.7 %） （- 18.7 %）

（- 0.1 %）

- 1,180.7 （- 17.6 %）

（+ 15.1 %） （- 5.4 %）（- 2.9 %） （ - 1.8 %）

－- 9.8Other Adjustments

3QNet Sales byBusiness Segment FY12FY11

2,110.4

68.0

136.4

1,613.8

301.9

64.0Power Product & Other Businesses

1,942.5Total

124.8Financial Services Business

1,451.0Automobile Business

302.5Motorcycle Business

78.9986.84US Dollar113.30 110.61Euro

77.3882.64US Dollar

112.23 104.29Euro

－－Other Adjustments

Nine MonthsNet Sales byBusiness Segment FY12FY11

6,723.7

212.6

427.3

5,148.7

935.0

204.6Power Product & Other Businesses

5,543.0Total

387.1Financial Services Business

3,961.0Automobile Business

990.2Motorcycle Business

Excluding currency translation effects; - 36.5 （ - 1.7%）

Excluding currency translation effects; - 850.5 （- 12.7 %）

2,110.4+ 45.7 - 86.9 - 3.9 - 1.2

- 131.31,942.5

6,723.7

+ 119.0 - 963.6

- 5.7 - 0.2- 330.1 5,543.0（- 1.4 %）

- 167.8 （ - 8.0 %）

+ 9.8

Net Sales and Other Operating Revenue3rd Quarter (Three months)

Nine Months

Yen (billions)

Yen (billions)

Market average rates

Market average rates

FY11 3Q FY12 3Q

MotorcycleBusiness Automobile

BusinessFinancial Services

Business Power Product &

Other Businesses

Other adjustments

Currency Effects

FY11Nine Months

FY12Nine Months

MotorcycleBusiness

AutomobileBusiness

Financial ServicesBusiness

Power Product &

Other BusinessesCurrency Effects

10

Income before Income taxes - 73.0

131.5

58.4

- 32.9

- 16.1 + 11.6 - 10.3- 33.6

+ 3.5+ 4.7

Operating Income - 81.3 Other Income & Expenses

+ 8.2

Change in Income before Income Taxes <FY12 3rd Quarter>Yen

（billions）

Revenue, model mix,

etc. Cost Reduction, etc. Decrease in SG&A Increase in R&D

Currency Effects Unrealized gains andlosses related to

derivative instruments (Exhibit 2)

Others

FY11 3Q FY12 3Q

OperatingIncome

125.6

OperatingIncome44.2

*Please refer to Exhibit 1 regarding currency effects

11

Income before Income taxes - 389.5

553.9

164.3

- 217.8

- 133.3

+ 41.4 - 8.5 - 85.8

+ 0.7 + 13.8

Operating Income - 404.1 Other Income & Expenses

+ 14.5

Change in Income before Income Taxes <FY12 Nine Months >Yen

( billions )

OperatingIncome

523.5

OperatingIncome119.3

*Please refer to Exhibit 1 regarding currency effects

FY11Nine Months

FY12Nine Months

- Currency effect due to difference between average ratesand transaction rates: - 9.3

- Others + 23.1 Revenue, model mix,

etc.

Cost Reduction, etc. Decrease in SG&A

Increase in R&D

Currency Effects Unrealized gains andlosses related to

derivative instruments (Exhibit 2)

Others

<Increase Factors>- Decreased sales incentives, etc.<Decrease Factors>-The change in unit sales and model mix in automobile business, etc.

<Decrease Factors>- Increased fixed cost per unit due to decreased production

- Increased raw material cost, etc.

<Increase Factors>- Decreased quality-related expenses, etc.

12

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

51

- Increased sales of CG150FAN and CG125FAN in Brazil- Increased sales of Wave model, etc., in Argentina+ 71496Other

Regions

3,076

2,450

31

48

Major increase / decrease factorsChange from FY11 3QFY12 3Q

- Decreased sales of SH series models due to weak sales in Southern Europe- Positive impact of the introduction of NSC110 in Italy- 8Europe

- Increased sales of Activa and CB Shine in India - Increased sales of Air Blade and Wave series in Vietnam- Decreased sales in Thailand due to negative impact caused by the flood

+ 109Asia

+ 181Total

+ 4

+ 5

- Increased sales of utility ATVs- Increased sales of Shadow large cruiser model

- Increased scooter sales due to the introduction of GIORNO- Positive impact of the introduction of CBR250R

North America

Japan

Approx. 1,780

344

2,374

2,887

64

Approx. 4,667Approx. 1,950

445

2,153

2,729

41

Approx. 4,679

2,341 39

4252,895

Approx. 1,750Approx. 4,645

2,31058

476

2,934

Approx. 1,810Approx. 4,744

2,152 62

52

4392,751

Approx. 630Approx. 3,381

6045

4347

4446

3852

46

Approx. 750

496

2,450

3,076

31

Approx. 3,826

4851

Approx. 5,480

1,214

6,868

8,511

144

Approx. 13,991

147138

Approx. 2,130

1,481

7,169

9,103

140

Approx. 11,233

147166

+ 592（ + 7.0% ）

Approx. 750

546

2,567

3,276

47

Approx. 4,026

5363

+ 181（ + 6.3% ）

Activa (India)

Motorcycle Unit Sales (Motorcycles + All-Terrain Vehicles, etc.)Unit

(thousands)

Unit (thousands)

Unit sales of Honda-brand motorcycle products that are manufactured and sold by overseas affiliates accounted for under the equity method, but do not use any parts supplied by Honda and its subsidiaries

* Unit sales is the total of sales of completed products of Honda and its consolidated subsidiaries and sales of parts to Honda’s affiliates accounted for under the equity method.

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

AsiaEurope

Other Regions

Japan

NorthAmerica

13

31.3

109.7

25.829.144.948.1

90.4

38.930.0

11.1%9.7%

8.5%

10.9%13.6%13.6%

9.6%9.6%9.8%

0

50

100

150

0%

2%

4%

6%

8%

10%

12%

14%

Includesrevenuerelated to

dissolution of a joint venture

with Hero Honda

( + 0.2% )

302.53Q

330.31Q

FY12

357.32Q

935.09 Months

FY11 FY12FY11

353.14Q

990.2301.9312.8320.2NetSales

9 Months3Q2Q1Q

(+ 21.3%)

( - 11.2%)

( + 5.9% )

Motorcycle Business Net Sales/Operating Income (Margin)

Yen(billions)

Yen(billions)

Operating Margin

Operating Income

Currency Effect - 45.1(Revenue from sales to

external customers)

Currency Effect - 63.8(Revenue from sales to

external customers)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

<Increase Factors>-Changes in unit sales and model mix, etc

<Decrease Factors>-Increased SG&A expenses, -Negative currency effect, etc

14

0

500

1,000

1,500

2,000

2,500

3,000

70

261

53

370

899

145

61

24448

368

898

177

8556726541364

118

134

- Decreased sales in Brazil due mainly to tightening of the financing regulation- Decreased sales in Australia due to the decreased supply caused by the flood in Thailand- 1948Other

Regions

830

244

38

366

Major increase / decrease factorsChange from FY11 3QFY12 3Q

- Negative impact of decreased production at the U.K. plant due to flood in Thailand- Positive impact of the introduction of JAZZ HYBRID in Germany- 3Europe

- Decreased production and sales caused by the flood in Thailand- Increased sales of parts for production of CIVIC to China - Positive impact of the introduction of BRIO in India

- 21Asia

- 25Total

+ 2

+ 16

- Increased supply of CIVIC, increased sales of ODYSSEY, etc.- Decreased supply of CR-V due to the timing of the model change

- Positive impact of the introduction of FIT SHUTTLE HYBRID, FREED HYBRID, N-BOX, etc.- Increased sales of STEPWGN- Reversal impact of the weak sales after termination of the government’s subsidy in 2011

NorthAmerica

Japan

86068

23856

356

142

54757

13935225

- 25（ - 2.9% ）

4824438366

830

134

770

142

2,652

440

1,102

198

669

113

2,149

356

860

151

- 503（ - 19.0% ）

46286

40269

772

131

FREED HYBRID (Japan)

Automobile Unit Sales Unit

(thousands)

Unit (thousands)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

* Unit sales is the total of sales of completed products of Honda and its consolidated subsidiaries and sales of parts to Honda’s affiliates accounted for under the equity method.** Certain sales of automobiles that are financed with residual value type auto loans by our domestic finance subsidiaries are accounted for as operating leases in conformity with

U.S. generally accepted accounting principles. As a result, they are not included in total sales of our automobile segment or in our measure of unit sales.

Asia

Europe

Other Regions

Japan

NorthAmerica

15

- 122.3

303.7

- 16.9- 29.1

- 76.2

- 39.168.486.3148.9

- 3.1%

5.9%

- 1.2%- 2.2%

- 6.5%

- 2.4%

4.2%5.0%

8.2%

-200

-100

0

100

200

300

-9%

-6%

-3%

0%

3%

6%

9%

12%

15%

1,455.63Q

1,178.81Q

FY12

1,337.12Q

5,153.89 Months

FY11 FY12FY11

1,648.44Q

3,971.61,615.91,723.51,814.4NetSales

9 Months3Q2Q1Q

( - 9.9% ) ( - 22.9% )

Automobile Business Net Sales/Operating Income (Margin)

Yen(billions)

Yen(billions)

Operating Margin

Operating Income

Currency Effect - 75.7(Revenue from sales to

external customers)

Currency Effect - 224.0(Revenue from sales to

external customers)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

<Increase Factors>-Decreased SG&A expenses. etc

<Decrease Factors>-Changes in unit sales and model mix, -Increased raw material cost,-Increased R&D expenses,-Negative currency effect, etc

16

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

105344

230

662

99

136367

200

367

1,166

96

157307254350

1,157

89

139307

490

706

1,746

104

- 136

- 23

- 18

- 54

- 20

- 21

Change from FY11 3Q

68

- Declined supply of GX160 engines for OEM use to South Africa, and GX25 engines for OEM use to Australia caused by the flood in Thailand

- Decreased sales of GX160 engines for long-tail boats 134Other

Regions

1,021

289

200

330

Major increase / decrease factorsFY12 3Q

- Decreased sales of GCV135、GX390 engines for OEM use due to economic uncertainty - Declined sales due to shortage of supply caused by the flood in ThailandEurope

- Decreased sales of GX390 engines for OEM use in Thailand and the Philippines due to shortage of supply caused by the flood in Thailand

- Increased sales of WBK30 pumps and GK200 engines for OEM use for pumps in India supported by government’s subsidy for agriculture

Asia

Total

- Reversal impact of favorable sales of GCV160 engines in 2Q FY12 - Increased demand for EU2000 generators due to climates in the East Coast area

- Decreased export sales of GX160 / 390 general-purpose engines for OEM use due to appreciated Japanese yen

- Decreased sales of GX160 OEM engines for pumps due to the flood in Thailand

NorthAmerica

Japan

109399

307

577

1,512

120

1,440

- 136（- 11.8% ）

1,021

68

134289200330

3,763

284

684

1,379

1,018

398

3,809

303

707

1,344

1,078

377

+ 46（+ 1.2%）

1,276

115

134390

200

437

WBK30 (India)

Power Products Unit Sales Unit

(thousands)

Unit (thousands)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

* Unit sales is the total of sales of completed products of Honda and its consolidated subsidiaries and sales of parts to Honda’s affiliates accounted for under the equity method.

AsiaEurope

Other Regions

Japan

NorthAmerica

17

- 3.1

0.2

-2.3- 2.0

- 0.5 - 0.5

- 2.1

-0.1

- 2.0

- 3.2%

- 0.2%- 0.7%

0.4%

- 2.8%- 2.9%

- 0.7%- 1.4% - 0.9%

-5

-4

-3

-2

-1

0

1

2

3

4

5

-5%

-4%

-3%

-2%

-1%

0%

1%

2%

3%

4%

5%

68.03Q

73.9

1QFY12

72.1

2Q

224.79 Months

FY11 FY12FY11

83.1

4Q

214.172.174.577.9NetSales

9 Months3Q2Q1Q

( - 5.7% ) ( - 4.7% )

Power Product & Other Businesses Net Sales/Operating Income (Margin)

Yen(billions)

Yen(billions)

Operating Margin

Operating Income

Currency Effect - 2.6(Revenue from sales to

external customers)

Currency Effect - 7.7(Revenue from sales to

external customers)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

<Decrease Factors>-Decreased unit sales in

power product business,-Negative currency effect, etc

18

54.6 47.439.6

53.642.8

134.0146.6

37.544.6

33.9%33.6%29.5%33.2%

38.7%

32.0%32.9%35.8%

28.8%

0

20

40

60

80

100

120

140

160

180

200

0%

10%

20%

30%

40%

50%

( - 15.7% )

127.5

5,290.53Q

5,169.25,445.75,572.15,427.25,480.35,558.0Total Assets of Finance

Subsidiaries

129.1

2Q

436.1

9 MonthsFY11

138.6

1QFY12 FY12FY11

137.3

4Q

395.3139.2144.2152.5NetSales

9 Months3Q2Q1Q

（- 8.4%） （- 9.3%）

(- 8.6%)

Financial Services Business Total Assets/Net Sales/Operating Income (Margin)

Yen(billions)

Yen(billions)

Operating Margin

Operating Income

Currency Effect - 7.6(Revenue from sales to

external customers)

Currency Effect - 34.4(Revenue from sales to

external customers)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

<Decrease Factors>- Negative currency impact, etc

19

- 41.2- 35.3

- 45.8- 21.8

14.620.153.1

87.9

- 122.4

-150

-100

-50

0

50

100

( - 4.8 % )( 1.7 % )

( - 5.3 % )

( 3.2 % )

863.13Q

625.3

1QFY12

805.3

2Q

2,717.39 Months

FY11 FY12FY11

893.8

4Q

2,293.9867.5928.2921.5NetSales

9 Months3Q2Q1Q

（ - 0.5% ） （ - 15.6% ）

Net Sales/Operating Income (Margin)Japan

Yen(billions)

Yen(billions)

Operating Income

Operating Margin (%)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

<Increase Factors>-Decreased SG&A expenses, etc

<Decrease Factors>-Increased R&D expenses,-Increased raw material price, -Negative currency impact, etc

20

141.0

276.3

110.7

75.889.6

24.5 18.547.7

74.8

0

50

100

150

200

250

300

( 8.9 % )( 7.6 % )

( - 16.5%)

( 5.6 % )

( - 49.0%)

( 8.7 % )

986.23Q

733.9

1QFY12

794.1

2Q

3,171.29 Months

FY11 FY12FY11

976.6

4Q

2,514.31,011.81,021.61,137.8NetSales

9 Months3Q2Q1Q

（ - 2.5% ） （ - 20.7% ）

Net Sales/Operating Income (Margin)North America

Yen(billions)

Operating Income

Operating Margin (%)

Yen(billions)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

<Decrease Factors>-Increased raw material cost,-Negative currency impact, etc

21

- 13.9

- 8.4

4.0-0.3

-9.4-1.7 -6.1

- 4.0 - 3.8

-15

-10

-5

0

5

10

15

20

25

30

( - 3.2 % )( - 6.3 % ) ( - 3.4 % )( - 1.7 % )

119.43Q

150.9

1QFY12

144.5

2Q

501.99 Months

FY11 FY12FY11

197.3

4Q

414.9150.7161.3189.8NetSales

9 Months3Q2Q1Q

（ - 20.7% ） （ - 17.3% ）

Europe Net Sales/Operating Income (Margin)

Yen(billions)

Yen(billions)

Operating Income

Operating Margin (%)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

<Increase Factors>-Decreased SG&A expenses, etc

22

60.3

118.5

44.438.3 35.7

32.125.1 21.8

13.30

50

100

150

( 4.2 % )

( 8.0 % )

( - 62.7% )

( 5.5 % )

( - 49.1% )

( 8.7 % )

317.63Q

373.4

1QFY12

407.7

2Q

1,368.79 Months

FY11 FY12FY11

472.4

4Q

1,098.9445.5452.9470.2NetSales

9 Months3Q2Q1Q

（ - 28.7% ） （ - 19.7% ）

Asia Net Sales/Operating Income (Margin)

Yen(billions)

Yen(billions)

Operating Income

Operating Margin (%)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

<Decrease Factors>-Changes in revenue and model mix,-Increased cost per unit due to decreased production,-Negative currency impact, etc

23

12.5

23.0

15.713.115.6

20.420.2

56.3

51.3

0

10

20

30

40

50

60

70

( 6.1 % )( 6.6 % )

( - 20.2% )

( 7.5 % )

( - 9.0% )

( 7.9 % )

206.13Q

229.9

1QFY12

244.3

2Q

717.79 Months

FY11 FY12FY11

264.3

4Q

680.4238.8242.5236.3NetSales

9 Months3Q2Q1Q

（ - 13.7% ） （ - 5.2% ）

Net Sales/Operating Income (Margin)Other Regions

Yen(billions)

Operating Income

Operating Margin (%)

Yen(billions)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

<Decrease Factors>-Changes in revenue and model mix,-Negative currency effect etc

24

67.1

22.9

114.7

15.5

35.6 35.643.4

25.0 28.622.1

66.4

91.5

14.8

27.5 29.534.4

19.529.3

0

20

40

60

80

100

120

140- 20.5

（ - 47.3 % ）- 47.6

（ - 41.5 % ）

Change in Equity in income of affiliates

Total Asia

Yen(billions)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

25

40.3

78.0 73.382.5 73.254.7

233.8

168.4

75.8

14.829.329.527.5 34.4

22.1

91.566.4

19.5

0.0

50.0

100.0

150.0

200.0

250.0

- 12.2（ - 35.6 % ）

45.454.7

3QFY12FY11FY12FY11

62.5

73.31Q

34.1

40.32Q

195.5233.89 Months

142.1168.49 Months

75.873.278.082.5OperatingIncome

66.5

4Q

60.264.171.1Net Income

3Q2Q1Q

- 25.1( - 27.5 % )

Operating Income of Affiliates in Asia and Honda’s Equity in Income from Asia

Yen(billions)

Operating Income of Affiliates and Honda’s Equity in Income

Operating Income Equity in Income

Yen(billions)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 9 Months 9 MonthsFY11 FY12 FY11 FY12

Sundiro Honda Motorcycle Co., Ltd.*Wuyang-Honda Motors (Guangzhou) Co., Ltd.*P.T. Astra Honda Motor *Boon Siew Honda Sdn. BhdAtlas Honda Ltd. A.P. Honda Co., Ltd.

Guangqi Honda Automobile Co., Ltd.*Dongfeng Honda Engine Co., Ltd.*Dongfeng Honda Automobile Co., Ltd.*

Others 34 , Total 43 companiesFiscal term of companies marked “*” differs from that of Honda Motor Co., Ltd.

Affiliates accounted for under the equity method in AsiaMotorcycle Business：

China

IndonesiaMalaysiaPakistanThailand

Automobile Business :China

As of the end of December 31, 2011

26

7.1Power Product & Other Businesses

190.4Total

0.1Financial Services Business

162.0Automobile Business

21.0Motorcycle Business

6.0Power Product & Other Businesses

239.7Total

0.1Financial Services Business

194.1Automobile Business

39.4MotorcycleBusiness

Excluding currency translation effects + 62.2 （ + 32.7 % ）

+ 42.0

190.4+ 20.8

+ 0.0 - 0.7 - 12.9239.7

+ 49.3 （ + 25.9 % ）

Consolidated Capital Expenditures <FY12 Nine Months>

Yen(billions)

MotorcycleBusiness

AutomobileBusiness

FinancialServicesBusiness

Power product&

Other BusinessesCurrency

Translation Effects

FY11 Nine MonthsMarket average ratesUS$ 1= JPY 87Euro 1= JPY 113

FY12 Nine MonthsMarket average rates

US$ 1= JPY 79 (Yen up by 8 yen)Euro 1= JPY 111 (Yen up by 2 yen)

Yen (billions) Yen (billions)

※ Capital expenditures in results aforementioned excludeinvestment in operating leases and intangible assets

27

0

1,000

2,000

3,000

4,000

0

3,000

6,000

9,000

12,000

15,000

18,000

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

11,445

Approx.3,065

12,705

Approx.7,290

3,4353,5125,509

9,178

185190

202

1,690198

582

1,458

266

1,008

1,174

388

2,085

537

1,325

10,120

220

215

1,955

195

195

565

1,375

220

1,080

6,075

1,190

370

2,390

555

1,570

Approx. 18,735

Approx. 15,770

Approx.2,940

12,660

10,040

225

205

1,990

200

Approx. 15,600

3,150

165

585

1,320

200

880

5,850

1,090

380

2,365

530

1,485

595

- 285

Forecast: Unit Sales by Business Segment

Unit sales of Honda-brand motorcycle products that are manufactured and sold by overseas affiliates accounted for under the equity method, but do not use any parts supplied by Honda and its subsidiaries

Motorcycles Automobiles Power ProductsUnit (thousands)

Japan

Europe

OtherRegions

Asia

NorthAmerica

FY11 FY12Forecasts

As of Aug.1

FY12Revised

Forecasts

FY11 FY12Forecasts

As of Aug.1

FY12Revised

Forecasts

FY11 FY12Forecasts

As of Aug.1

FY12Revised

Forecasts

including unit sales that is financed with residual value type auto loans,and are defined as operating lease sales under US GAAP.

28

Change

- 319.0

- 44.7

- 380.5

- 369.7

- 1,086.8

amount

215.0

95.0

250.0

200.0

7,850.0

FY12Revised Forecasts

- 32.0%139.7Equity in income of affiliates

- 59.7%

- 60.4%

- 64.9%

- 12.2%

%

534.0 Net income attributable to Honda Motor Co., Ltd.

630.5Income before income taxes

569.7Operating income

8,936.8Net sales & other operating revenue

FY11Results

- 176.38119.29295.67EPS attributable toHonda Motor Co., Ltd. (Yen)

106

78

Yen up by 8 yen

Yen up by 8 yen

114Euro

86US Dollar

FY12 Financial Forecasts (Consolidated)Yen （billions）

Note : Shares which are based on calculation of EPS

approx.1,806,360,000 shares

approx.1,802,300,000 shares

(weighted average number of shares outstanding )

(weighted average number of shares outstanding )

Average Rates (Yen)

29

Income before Income taxes - 380.5 （ - 60.4 % ）

630.5

250.0

- 171.2

- 79.0+ 46.0 - 37.5 - 128.0

+ 17.0 - 27.7

Operating Income - 369.7 （ - 64.9 % ）Other Income & Expenses

- 10.7

Forecast: Change in Income before Income TaxesYen (billions)

Operating Income569.7

FY11

Operating Income200.0

FY12Revised

Forecasts

Revenue,model mix,

etc. Decrease in SG&A

Cost Reduction, etc.

Increasein R&D

Currency Effect Unrealized gainsand losses related toderivative

instruments

Others

30

Income before Income taxes - 35.0 （ - 12.3 % ）

250.0- 84.0

- 20.0＋ 61.0

- 57.0

+ 17.0+ 18.0

Operating Income - 70.0 （ - 25.9 % ）Other Income & Expenses

+ 35.0

285.0＋ 30.0

- Impact of the flood in Thailand ：Approx. - 110.0- Negative currency effect ：Approx. - 57.0- Companywide effort to reduce

costs and expenses ： Approx. + 97.0

Forecast: Change in Income before Income Taxes

Yen (billions)

Revenue,model mix,

etc. Decrease in SG&A

Decreasein R&D

Cost Reduction, etc.

Currency Effect Unrealized gainsand losses related toderivative

instruments

Others

Operating Income270.0

FY12Forecasts

As of Aug. 1

Operating Income200.0

FY12Revised

Forecasts

31

+ 37.5

- 30.2

+ 98.7

Change

487.5

325.2

311.3

FY11Results

525.0

295.0

410.0

FY12Revised Forecasts

R&D expenses

Depreciation and

amortization*

Capital

expenditures*

Forecast: Capital Expenditures, Depreciation, R&D Expenses

Yen(billions)

* “Capital expenditures” in results and the forecast aforementioned exclude investment in operating leases and acquisition of intangible assets.

* “Depreciation and amortization” in results and the forecast aforementioned exclude depreciation of investment in operating leases and amortization of intangible assets.

3232

Caution with Respect to Forward-Looking Statements:This slide contains forward-looking statements about the performance of Honda, which are based on management’s assumptions and beliefs taking into account information currently available to it. Therefore, please be advised that Honda’s actual results could differ materially from those described in these forward-looking statements as a result of numerous factors, including general economic conditions in Honda’s principal markets and foreign exchange rates between the Japanese yen and the U.S. dollar, the Euro and other major currencies, as well as other factors detailed from time to time.

Accounting standards: Our consolidated financial standards are prepared in conformity with U.S. generally accepted accounting principles.

Notice on the Factors for Increases and Decreases in Income:With respect to the discussion above of the change in operating income, management has identified the factors set forth below and used what it believes to be a reasonable method to analyze the respective changes in such factors. Each of these factors is explained below. Management has analyzed changes in these factors at the levels of the Company and its material consolidated subsidiaries.

(1)“Foreign currency effects” consist of translation adjustments, which come from the translation of the currency of foreign subsidiaries’ financial statements into Japanese Yen, and foreign currency adjustments, which result from foreign-currency-denominated sales, which, at the levels of the Company and those consolidated subsidiaries which have been analyzed, primarily relate to the following currencies: U.S. dollar, Canada dollar, Euro, GBP, BRL and Japanese Yen.

(2) With respect to “cost reduction and effects of raw material cost fluctuations”, management has analyzed cost reduction and effects of raw material cost fluctuations at the levels of the Company and its material foreign manufacturing subsidiaries in North America, Europe and other regions.

(3) With respect to “changes in net sales and model mix”, management has analyzed changes in sales volume and in the mix of product models sold in major markets which have resulted in increases/decreases in profit, as well as certain other reasons for increases/decreases in net sales and cost of sales.

(4) With respect to “selling, general and administrative expenses”, management has analyzed reasons for an increase/decrease in selling, general and administrative expenses from the previous fiscal year net of currency translation effects.

33

- 63.3- 24.0Currency effect associated with sales transaction

- 31.7- 11.1Currency effect from translation of foreign financial statements (impact on operating income)

- 95.1

- 9.3

- 54.0

- 0.7- 7.6- 1.6

- 44.0

FY129 Months

Average Rates (Yen)

ChangeFY123Q

FY113Q

FY12 3Q

Yen up by 6 yen

77 83- 15.5JPY / USDYen up by

7 yen105112- 1.4JPY / Euro

―――- 4.7JPY / Others

―――- 0.7Transactions between other currencies

- 22.4Difference of average rates(Impact on Operating income)

- 1.6Difference between transaction rates and average rates (Impact on Other income & expenses)

- 35 2Total

*1

*2

*3

-Currency Effects-(effects associated with sales transactions and translation effects) (Exhibit 1)

Yen(billion)

*1:Impact of YOY difference of FOREX to be used for booking revenue of foreign currency transactions

*2:Impact of YOY difference between average FOREXand hedge rates during the period

*3:Effect due to the difference of the rate used for translatingHonda’s overseas subsidiaries’ financial statements denominated in foreign currencies into Japanese yenwith the corresponding period of the fiscal year

34

+ 26.6

- 0.3

+ 12.1

+ 14.7

FY11

9 Months

+ 27.3

+ 0.4

+ 18.3

+ 8.5

FY12

+ 0.7

+ 0.7

+ 6.1

- 6.2

Change

- 2.4

- 0.1

- 2.5

+ 0.1

FY11

3Q

+ 1.0

+ 0.0

+ 6.2

- 5.2

FY12

+ 3.5

+ 0.2

+ 8.7

- 5.4

Change

Others

Total

Interest rate swap Currency swap

Foreign currencyForward

- Unrealized Gains and Losses Related to Derivative Instruments - (Exhibit 2)

Yen(billion)

35