Honda 2010 Annual Report Download - page 8

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We would like to express our gratitude to you, our shareholders, for your
ongoing support. We also want to thank the many people who have
supported Honda’s growth over the years, including, first and foremost,
our customers, as well as our business partners and the communities
around the world where we are privileged to do business.
Concerning the economic environment
surrounding Honda, economic conditions in
the United States showed moderate recovery,
as evidenced by improvement in consumer
spending, a bottoming out of private capital
investment and other developments, despite
concerns about the continuation of the credit
contraction, deterioration in the employment
situation and other factors. The economies of
Europe also bottomed out, despite concerns
such as economic stagnation as a result of the
credit contraction, a sales slump following the
end of measures supporting new car purchases
and a deterioration in employment conditions.
Also, in Asia, the Chinese economy recovered
and the outlook called for further expansion.
Similarly, in India, economic conditions
recovered, and the economies of other
To Our Shareholders
countries in the region generally are reporting
recovery. In Japan, the economy showed a trend
toward improvement, especially in consumer
spending, although conditions continued to
be tough, with unemployment rates remaining
high and other factors.
Under these business conditions,
Honda’s consolidated net sales and other
operating revenue (the “Revenue”) for the
fiscal year ended March 31, 2010 amounted
to ¥8,579.1 billion, a decline from the previous
fiscal year, mainly due to negative currency
translation effects and decreased sales in
automobile business. Net income attributable
to Honda Motor Co., Ltd. increased to ¥268.4
billion, and basic net income attributable to
Honda Motor Co., Ltd. per common share rose
to ¥147.91.
6