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A n n u a l R e p o r t 2 0 0 8
6 4
Honda Motor Co., Ltd. and Subsidiaries
Years ended March 31, 2006, 2007 and 2008 Yen
(millions)
U.S. dollars
(millions)
(note 2)
2006 2007 2008 2008
Net sales and other operating revenue (note 4) ¥9,907,996 ¥11,087,140 ¥12,002,834 $119,801
Operating costs and expenses:
Cost of sales (note 4) 7,010,357 7,865,142 8,543,170 85,270
Selling, general and administrative 1,656,365 1,818,272 1,918,596 19,150
Research and development 510,385 551,847 587,959 5,868
9,177,107 10,235,261 11,049,725 110,288
Gain on transfer of the substitutional portion of
the Employees’ Pension Funds (note 13) 138,016 — ——
Operating income 868,905 851,879 953,109 9,513
Other income (notes 1 (q) and 7):
Interest 27,363 42,364 50,144 500
Other 2,214 13,243 5,384 54
29,577 55,607 55,528 554
Other expenses (notes 1 (q) and 7):
Interest 11,902 12,912 16,623 166
Other 56,676 101,706 96,173 960
68,578 114,618 112,796 1,126
Income before income taxes, minority interest and
equity in income of affiliates 829,904 792,868 895,841 8,941
Income tax (benefit) expense (note 11):
Current 319,945 300,294 356,095 3,554
Deferred (2,756) (16,448) 31,341 313
317,189 283,846 387,436 3,867
Income before minority interest and
equity in income of affiliates 512,715 509,022 508,405 5,074
Minority interest in income of consolidated subsidiaries (15,287) (20,117) (27,308) (272)
Equity in income of affiliates (note 6) 99,605 103,417 118,942 1,187
Net income ¥ 597,033 ¥ 592,322 ¥ 600,039 $ 5,989
Yen
U.S. dollars
(note 2)
2006 2007 2008 2008
Basic net income per common share (note 1 (o)) ¥ 324.33 ¥ 324.62 ¥ 330.54 $ 3.30
See accompanying notes to consolidated financial statements.
Consolidated Statements of Income