Cover Page
Cover Page | 12 Months Ended |
Mar. 31, 2023 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity Registrant Name | HONDA MOTOR CO., LTD. |
Entity Central Index Key | 0000715153 |
Current Fiscal Year End Date | --03-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
ICFR Auditor Attestation Flag | true |
Entity File Number | 1-7628 |
Entity Incorporation, State or Country Code | M0 |
Entity Address, Address Line One | No. 1-1, Minami-Aoyama 2-chome |
Entity Address, Address Line Two | Minato-ku |
Entity Address, City or Town | Tokyo |
Entity Address, Country | JP |
Entity Address, Postal Zip Code | 107-8556 |
Document Accounting Standard | International Financial Reporting Standards |
Auditor Name | KPMG AZSA LLC |
Auditor Firm ID | 1009 |
Auditor Location | Tokyo, Japan |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | No. 1-1, Minami-Aoyama 2-chome |
Entity Address, Address Line Two | Minato-ku |
Entity Address, City or Town | Tokyo |
Entity Address, Country | JP |
Entity Address, Postal Zip Code | 107-8556 |
Contact Personnel Name | Ryosuke Niwa |
City Area Code | +81-3 |
Local Phone Number | 5412-1134 |
American Depositary Shares [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | American Depositary Shares |
Trading Symbol | HMC |
Security Exchange Name | NYSE |
Entity Common Stock, Shares Outstanding | 116,835,999 |
Common Stock [member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Common Stock |
No Trading Symbol Flag | true |
Security Exchange Name | NONE |
Entity Common Stock, Shares Outstanding | 1,664,340,589 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | ¥ 3,803,014 | ¥ 3,674,931 |
Trade receivables | 1,060,271 | 896,768 |
Receivables from financial services | 1,899,493 | 1,694,113 |
Other financial assets | 263,892 | 217,743 |
Inventories | 2,167,184 | 1,918,548 |
Other current assets | 384,494 | 439,322 |
Total current assets | 9,578,348 | 8,841,425 |
Non-current assets: | ||
Investments accounted for using the equity method | 915,946 | 967,404 |
Receivables from financial services | 3,995,259 | 3,740,383 |
Other financial assets | 855,070 | 819,654 |
Intangible assets | 870,900 | 849,507 |
Deferred tax assets | 105,792 | 91,592 |
Other non-current assets | 454,351 | 424,652 |
Total non-current assets | 15,091,719 | 15,131,728 |
Total assets | 24,670,067 | 23,973,153 |
Current liabilities: | ||
Trade payables | 1,426,333 | 1,236,233 |
Financing liabilities | 3,291,195 | 3,118,304 |
Accrued expenses | 419,570 | 375,601 |
Other financial liabilities | 324,110 | 236,900 |
Income taxes payable | 86,252 | 96,116 |
Provisions | 362,701 | 268,388 |
Other current liabilities | 741,963 | 672,857 |
Total current liabilities | 6,652,124 | 6,004,399 |
Non-current liabilities: | ||
Financing liabilities | 4,373,973 | 4,984,252 |
Other financial liabilities | 288,736 | 282,083 |
Retirement benefit liabilities | 255,852 | 282,054 |
Provisions | 270,169 | 253,625 |
Deferred tax liabilities | 877,300 | 990,754 |
Other non-current liabilities | 449,622 | 403,440 |
Total non-current liabilities | 6,515,652 | 7,196,208 |
Total liabilities | 13,167,776 | 13,200,607 |
Equity: | ||
Common stock | 86,067 | 86,067 |
Capital surplus | 185,589 | 185,495 |
Treasury stock | (484,931) | (328,309) |
Retained earnings | 9,980,128 | 9,539,133 |
Other components of equity | 1,417,397 | 990,438 |
Equity attributable to owners of the parent | 11,184,250 | 10,472,824 |
Non-controlling interests | 318,041 | 299,722 |
Total equity | 11,502,291 | 10,772,546 |
Total liabilities and equity | 24,670,067 | 23,973,153 |
Equipment on operating leases [member] | ||
Non-current assets: | ||
Property, plant and equipment | 4,726,292 | 5,159,129 |
Property, plant and equipment [member] | ||
Non-current assets: | ||
Property, plant and equipment | ¥ 3,168,109 | ¥ 3,079,407 |
Consolidated Statements of Inco
Consolidated Statements of Income - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Profit or loss [abstract] | |||
Sales revenue | ¥ 16,907,725 | ¥ 14,552,696 | ¥ 13,170,519 |
Operating costs and expenses: | |||
Cost of sales | (13,576,133) | (11,567,923) | (10,439,689) |
Selling, general and administrative | (1,669,908) | (1,326,485) | (1,331,728) |
Research and development | (880,915) | (787,056) | (738,894) |
Total operating costs and expenses | (16,126,956) | (13,681,464) | (12,510,311) |
Operating profit | 780,769 | 871,232 | 660,208 |
Share of profit of investments accounted for using the equity method | 117,445 | 202,512 | 272,734 |
Finance income and finance costs: | |||
Interest income | 73,071 | 25,627 | 19,805 |
Interest expense | (36,112) | (16,867) | (13,877) |
Other, net | (55,608) | (12,314) | (24,817) |
Total finance income and finance costs | (18,649) | (3,554) | (18,889) |
Profit before income taxes | 879,565 | 1,070,190 | 914,053 |
Income tax expense | (162,256) | (309,489) | (218,609) |
Profit for the year | 717,309 | 760,701 | 695,444 |
Profit for the year attributable to: | |||
Owners of the parent | 651,416 | 707,067 | 657,425 |
Non-controlling interests | ¥ 65,893 | ¥ 53,634 | ¥ 38,019 |
Earnings per share attributable to owners of the parent | |||
Basic and diluted | ¥ 384.02 | ¥ 411.09 | ¥ 380.75 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Statement of comprehensive income [abstract] | |||
Profit for the year | ¥ 717,309 | ¥ 760,701 | ¥ 695,444 |
Items that will not be reclassified to profit or loss | |||
Remeasurements of defined benefit plans | 3,350 | 117,042 | 238,262 |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income | (18,465) | 58,635 | 67,603 |
Share of other comprehensive income of investments accounted for using the equity method | 292 | 1,786 | 4,910 |
Items that may be reclassified subsequently to profit or loss | |||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income | (474) | (682) | (43) |
Exchange differences on translating foreign operations | 422,960 | 680,724 | 239,097 |
Share of other comprehensive income of investments accounted for using the equity method | 30,429 | 77,447 | 27,350 |
Total other comprehensive income, net of tax | 438,092 | 934,952 | 577,179 |
Comprehensive income for the year | 1,155,401 | 1,695,653 | 1,272,623 |
Comprehensive income for the year attributable to: | |||
Owners of the parent | 1,081,429 | 1,619,997 | 1,214,757 |
Non-controlling interests | ¥ 73,972 | ¥ 75,656 | ¥ 57,866 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - JPY (¥) ¥ in Millions | Total | Common stock [Member] | Capital surplus [Member] | Treasury stock [member] | Retained earnings [Member] | Other components of equity [member] | Equity attributable to owners of the parent [Member] | Non-controlling interests [Member] |
Beginning balance at Mar. 31, 2020 | ¥ 8,286,023 | ¥ 86,067 | ¥ 171,823 | ¥ (273,940) | ¥ 8,142,948 | ¥ (114,639) | ¥ 8,012,259 | ¥ 273,764 |
Comprehensive income for the year | ||||||||
Profit for the year | 695,444 | 657,425 | 657,425 | 38,019 | ||||
Other comprehensive income, net of tax | 577,179 | 557,332 | 557,332 | 19,847 | ||||
Total comprehensive income for the year | 1,272,623 | 657,425 | 557,332 | 1,214,757 | 57,866 | |||
Reclassification to retained earnings | 245,983 | (245,983) | ||||||
Transactions with owners and other | ||||||||
Dividends paid | (188,438) | (145,090) | (145,090) | (43,348) | ||||
Purchases of treasury stock | (6) | (6) | (6) | |||||
Disposal of treasury stock | 160 | 160 | 160 | |||||
Share-based payment transactions | 226 | 226 | 226 | |||||
Equity transactions and others | 2,251 | 2,251 | ||||||
Total transactions with owners and other | (185,807) | 226 | 154 | (145,090) | (144,710) | (41,097) | ||
Ending balance at Mar. 31, 2021 | 9,372,839 | 86,067 | 172,049 | (273,786) | 8,901,266 | 196,710 | 9,082,306 | 290,533 |
Comprehensive income for the year | ||||||||
Profit for the year | 760,701 | 707,067 | 707,067 | 53,634 | ||||
Other comprehensive income, net of tax | 934,952 | 912,930 | 912,930 | 22,022 | ||||
Total comprehensive income for the year | 1,695,653 | 707,067 | 912,930 | 1,619,997 | 75,656 | |||
Reclassification to retained earnings | 119,202 | (119,202) | ||||||
Transactions with owners and other | ||||||||
Dividends paid | (233,533) | (188,402) | (188,402) | (45,131) | ||||
Purchases of treasury stock | (62,758) | (62,758) | (62,758) | |||||
Disposal of treasury stock | 578 | 578 | 578 | |||||
Share-based payment transactions | (233) | (233) | (233) | |||||
Equity transactions and others | 13,679 | 7,657 | 21,336 | (21,336) | ||||
Total transactions with owners and other | (295,946) | 13,446 | (54,523) | (188,402) | (229,479) | (66,467) | ||
Ending balance at Mar. 31, 2022 | 10,772,546 | 86,067 | 185,495 | (328,309) | 9,539,133 | 990,438 | 10,472,824 | 299,722 |
Comprehensive income for the year | ||||||||
Profit for the year | 717,309 | 651,416 | 651,416 | 65,893 | ||||
Other comprehensive income, net of tax | 438,092 | 430,013 | 430,013 | 8,079 | ||||
Total comprehensive income for the year | 1,155,401 | 651,416 | 430,013 | 1,081,429 | 73,972 | |||
Reclassification to retained earnings | 3,054 | (3,054) | ||||||
Transactions with owners and other | ||||||||
Dividends paid | (265,076) | (213,475) | (213,475) | (51,601) | ||||
Purchases of treasury stock | (157,001) | (157,001) | (157,001) | |||||
Disposal of treasury stock | 379 | 379 | 379 | |||||
Share-based payment transactions | 94 | 94 | 94 | |||||
Equity transactions and others | (4,052) | (4,052) | ||||||
Total transactions with owners and other | (425,656) | 94 | (156,622) | (213,475) | (370,003) | (55,653) | ||
Ending balance at Mar. 31, 2023 | ¥ 11,502,291 | ¥ 86,067 | ¥ 185,589 | ¥ (484,931) | ¥ 9,980,128 | ¥ 1,417,397 | ¥ 11,184,250 | ¥ 318,041 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from operating activities: | |||
Profit before income taxes | ¥ 879,565 | ¥ 1,070,190 | ¥ 914,053 |
Depreciation, amortization and impairment losses excluding equipment on operating leases | 721,630 | 611,063 | 624,239 |
Share of profit of investments accounted for using the equity method | (117,445) | (202,512) | (272,734) |
Finance income and finance costs, net | (71,661) | (56,352) | 22,630 |
Interest income and interest costs from financial services, net | (146,461) | (155,872) | (137,178) |
Changes in assets and liabilities | |||
Trade receivables | (155,924) | (24,037) | (133,788) |
Inventories | (171,467) | (208,895) | 68,281 |
Trade payables | 105,272 | 50,122 | 101,301 |
Accrued expenses | 42,122 | (68,811) | (40,927) |
Provisions and retirement benefit liabilities | 90,880 | (156,079) | 106,829 |
Receivables from financial services | (41,480) | 509,741 | (59,934) |
Equipment on operating leases | 768,070 | 171,600 | (161,579) |
Other assets and liabilities | 218,369 | 28,981 | (72,473) |
Other, net | (1,222) | (19,782) | 5,190 |
Dividends received | 244,902 | 193,555 | 191,112 |
Interest received | 324,234 | 237,724 | 236,729 |
Interest paid | (159,020) | (97,884) | (113,100) |
Income taxes paid, net of refund | (401,342) | (203,130) | (206,272) |
Net cash provided by operating activities | 2,129,022 | 1,679,622 | 1,072,379 |
Cash flows from investing activities: | |||
Payments for additions to property, plant and equipment | (475,048) | (268,143) | (318,410) |
Payments for additions to and internally developed intangible assets | (157,440) | (181,083) | (232,727) |
Proceeds from sales of property, plant and equipment and intangible assets | 16,206 | 27,108 | 6,770 |
Payments for acquisitions of subsidiaries, net of cash and cash equivalents acquired | 2,230 | ||
Proceeds from sales of subsidiaries, net of cash and cash equivalents disposed of | 740 | ||
Payments for acquisitions of investments accounted for using the equity method | (23,826) | (110,747) | |
Proceeds from sales of investments accounted for using the equity method | 12,570 | ||
Payments for acquisitions of other financial assets | (527,334) | (488,631) | (433,375) |
Proceeds from sales and redemptions of other financial assets | 488,642 | 534,693 | 276,808 |
Net cash used in investing activities | (678,060) | (376,056) | (796,881) |
Cash flows from financing activities: | |||
Proceeds from short-term financing liabilities | 9,127,333 | 7,487,724 | 9,115,347 |
Repayments of short-term financing liabilities | (8,684,799) | (7,960,144) | (9,294,859) |
Proceeds from long-term financing liabilities | 971,067 | 2,002,823 | 1,948,835 |
Repayments of long-term financing liabilities | (2,382,190) | (1,761,561) | (1,798,429) |
Dividends paid to owners of the parent | (213,475) | (188,402) | (145,090) |
Dividends paid to non-controlling interests | (51,376) | (53,813) | (41,755) |
Purchases and sales of treasury stock, net | (156,622) | (62,180) | 154 |
Repayments of lease liabilities | (78,297) | (80,165) | (67,628) |
Other, net | (555) | ||
Net cash used in financing activities | (1,468,359) | (615,718) | (283,980) |
Effect of exchange rate changes on cash and cash equivalents | 145,480 | 229,063 | 94,149 |
Net change in cash and cash equivalents | 128,083 | 916,911 | 85,667 |
Cash and cash equivalents at beginning of year | 3,674,931 | 2,758,020 | 2,672,353 |
Cash and cash equivalents at end of year | ¥ 3,803,014 | ¥ 3,674,931 | ¥ 2,758,020 |
Reporting Entity
Reporting Entity | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Reporting Entity | (1) Reporting Entity Honda Motor Co., Ltd. (the “Company”) is a public company domiciled in Japan. The Company and its subsidiaries (collectively “Honda”) develop, manufacture and distribute motorcycles, automobiles, power products and others throughout the world, and also provide financial services to customers and dealers for the sale of those products. Principal manufacturing facilities are located in Japan, the United States of America, Canada, Mexico, China, India, Indonesia, Malaysia, Thailand, Vietnam and Brazil. |
Basis of Preparation
Basis of Preparation | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Basis of Preparation | (2) Basis of Preparation (a) Compliance with International Financial Reporting Standards The Company’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). The term “IFRS” also includes International Accounting Standards (IASs) and the related interpretations of the interpretations committees (SIC and IFRIC). (b) Basis of Measurement The consolidated financial statements have been prepared on the historical cost basis, except for certain assets and liabilities separately stated in note 3. (c) Functional Currency and Presentation Currency The consolidated financial statements are presented in Japanese yen, which is the functional currency of the Company. All financial information presented in Japanese yen has been rounded to the nearest million Japanese yen, except when otherwise indicated. (d) New Accounting Standards and Interpretations Not Yet Adopted None of new or amended standards and interpretations that have been issued as of the date of approval of the consolidated financial statements but are not effective and have not yet been adopted by Honda as of March 31, 2023 have a significant effect on the consolidated financial statements. (e) Use of Estimates and Judgments The preparation of consolidated financial statements in accordance with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies, the reported amount of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates. These estimates and underlying assumptions are reviewed on a continuous basis. Changes in these accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Information about judgments that have been made in the process of applying accounting policies and that have significant effects on the amounts reported in the consolidated financial statements is as follows: • Scope of subsidiaries, affiliates and joint ventures (notes 3(a) and 3(b)) • Recognition of intangible assets arising from development (note 3(h)) • Accounting for contracts including lease (note 3(i)) Information about accounting estimates and assumptions that have significant effects on the amounts reported in the consolidated financial statements is as follows: • End of term residual values of operating lease vehicles (note 3(f)) • Valuation of financial assets measured at amortized cost and debt securities classified into financial assets measured at fair value through other comprehensive income (notes 6, 7 and 8) • Fair value of financial instruments (note 26) • Net realizable value of inventories (note 9) • Recoverable amount of non-financial • Measurement of provisions (note 17) • Measurement of net defined benefit liabilities (assets) (note 18) • Recoverability of deferred tax assets (note 23) • Likelihood and magnitude of outflows of resources embodying economic benefits required to settle contingent liabilities (note 28) |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Significant Accounting Policies | (3) Significant Accounting Policies (a) Basis of Consolidation The consolidated financial statements include the accounts of the Company, its subsidiaries which are directly or indirectly controlled by the Company, and those structured entities which are controlled by Honda. All significant intercompany balances and transactions have been eliminated in consolidation. Honda controls an entity when Honda is exposed or has rights to variable returns from involvement with the entity, and has the ability to affect those returns by using its power, which is the current ability to direct the relevant activities, over the entity. To determine whether or not Honda controls an entity, status of voting rights or similar rights, contractual agreements and other specific factors are taken into consideration. Structured entities are entities designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. Honda consolidates structured entities over which it has control, by comprehensively determining whether its control over the entity exists based on any contractual arrangements with such entity as well as the percentage of its voting or similar rights in the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date when the control is obtained until the date when the control is lost. The financial statements of subsidiaries have been adjusted in order to ensure consistency with the accounting policies adopted by the Company as necessary. Changes in the Company’s ownership interests in subsidiaries that do not result in a loss of control are accounted for as equity transactions. When control over a subsidiary is lost, the investment retained after the loss of control is remeasured at fair value as of the date of the loss of control, and any gain or loss on such remeasurement and disposal of the interest sold is recognized in profit or loss. (b) Investments in Affiliates and Joint Ventures (Investments Accounted for Using the Equity Method) Affiliates are entities over which Honda has a significant influence over the decisions on financial and operating policies, but does not have control or joint control. Joint ventures are joint arrangements whereby the parties including Honda that have joint control have rights to the net assets of the arrangement. Joint arrangements are arrangements of which two or more parties have joint control, and joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Investments in affiliates and joint ventures are accounted for using the equity method from the date when the investees are determined to be affiliates or joint ventures until the date when they ceased to be classified as affiliates or joint ventures. Under the equity method, the investment is initially recognized at cost, and the carrying amount is subsequently increased or decreased, to recognize Honda’s share of profit or loss and other comprehensive income of the affiliate or the joint venture after the date of initial recognition. The financial statements of affiliates and joint ventures have been adjusted in order to ensure consistency with the accounting policies adopted by the Company in applying the equity method, as necessary. The use of the equity method is discontinued from the date when the investees are determined to be no longer affiliates or joint ventures. The investment retained after cessation of the equity method is remeasured at fair value, and any gain or loss on such remeasurement and disposal of the investment is recognized in profit or loss. (c) Foreign Currency Translations 1) Foreign currency transactions Foreign currency transactions are translated into the respective functional currencies at the exchange rates prevailing when such transactions occur. All foreign currency receivables and payables are translated into the respective functional currencies at the applicable exchange rates at the end of the reporting period. Gains or losses on exchange differences arising on settlement of foreign currency receivables and payables or on their translations at the end of the reporting date are recognized in profit or loss and they are included in finance income and finance costs-other, net in the consolidated statements of income. 2) Foreign operations All assets and liabilities of foreign subsidiaries, affiliates and joint ventures (collectively “foreign operations”), which use a functional currency other than Japanese yen, are translated into Japanese yen at the exchange rates at the end of the reporting period. All revenues and expenses of foreign operations are translated into Japanese yen at the average exchange rate for the period except when a functional currency is the currency of a hyperinflationary economy. Exchange differences arising from translation are recognized in other comprehensive income and accumulated in other components of equity in the consolidated statements of financial position. When a foreign operation is disposed of, and control, significant influence or joint control over the foreign operation is lost, the cumulative amount of exchange differences relating to the foreign operation is reclassified from equity to profit or loss. (d) Financial Instruments A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity security of another entity. When Honda becomes a party to the contractual provision of a financial instrument, the financial instrument is recognized either as a financial asset or as a financial liability. When Honda purchases or sells a financial asset, the financial asset is recognized or derecognized at the trade date. 1) Non-derivative Honda classifies financial assets other than derivatives into “financial assets measured at amortized cost”, “financial assets measured at fair value through other comprehensive income” or “financial assets measured at fair value through profit or loss”. Honda determines the classification of financial assets upon initial recognition. Financial assets are derecognized when the contractual rights to cash flows from the financial assets expire, or when the contractual rights to receive the cash flows from the financial assets are transferred and all risks and rewards of ownership of the financial assets are substantially transferred. Financial assets measured at amortized cost A financial asset is classified into financial assets measured at amortized cost when the asset is held within a business model whose objective is to hold the asset in order to collect the contractual cash flows, and the contractual term of the financial asset gives rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets measured at amortized cost except trade receivables arising from contracts with customers are initially measured at their fair value and trade receivables arising from contracts with customers are initially measured at their transaction price. Financial assets measured at amortized cost are subsequently measured at amortized cost using the effective interest method. Financial assets measured at fair value A financial asset other than a financial asset measured at amortized cost is classified into financial assets measured at fair value. The financial assets measured at fair value are further classified into the following categories: Financial assets measured at fair value through other comprehensive income A debt security is classified into financial assets measured at fair value through other comprehensive income when the asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The debt securities are initially measured at their fair value, and subsequent changes in fair value are recognized in other comprehensive income except for impairment gain or loss and foreign exchange gain or loss. When the debt securities are derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss. Honda elects to designate investments in equity securities such as shares, held for maintaining and strengthening the trade relationship as financial assets measured at fair value through other comprehensive income. Equity securities designated as financial assets measured at fair value through other comprehensive income are initially measured at their fair value, and subsequent changes in fair value of the investment are recognized in other comprehensive income. However, dividends from the equity securities are principally recognized in profit or loss. When the equity securities are derecognized, the cumulative gain or loss previously recognized in other comprehensive income is directly reclassified to retained earnings. Financial assets measured at fair value through profit or loss Financial assets measured at fair value other than financial assets measured at fair value through other comprehensive income are classified into financial assets measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are initially measured at their fair value, and subsequent changes in fair value are recognized in profit or loss. (Cash and cash equivalents) Cash and cash equivalents consist of cash on hand, demand deposits, and short-term highly liquid investments that are readily convertible to known amounts of cash and are subject to insignificant risk of changes in value. Honda includes all highly liquid debt instruments with original maturities of three months or less in cash equivalents. 2) Non-derivative Financial liabilities other than derivatives are initially measured at their fair value, and are subsequently measured at amortized cost using the effective interest method. Financial liabilities are derecognized, when the obligations specified in the contract are discharged, canceled or expire. 3) Derivatives Honda has entered into foreign exchange and interest rate agreements to manage currency and interest rate exposures. These agreements include foreign currency forward exchange contracts, currency option contracts, currency swap agreements and interest rate swap agreements. All these derivatives are initially recognized as assets or liabilities and measured at fair value, when Honda becomes a party to the contractual provision of the derivatives. Subsequent changes in fair value of derivatives are recognized in profit or loss in the period of the changes. Honda has not held any derivatives designated as hedging instruments for the years ended March 31, 2021, 2022 and 2023. 4) Offsetting of financial assets and financial liabilities Financial assets and financial liabilities are offset and the net amount is presented in the consolidated statements of financial position, only when Honda currently has a legally enforceable right to offset the recognized amounts, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. (e) Inventories Inventories are measured at the lower of cost and net realizable value. The cost of inventories includes purchase costs and conversion costs, and it is determined principally by using the first-in first-out (f) Equipment on Operating Leases Equipment on operating leases is measured based on the cost model and carried at its cost less accumulated depreciation and impairment losses. A vehicle subject to operating lease is initially measured at its cost. Depreciation of equipment on operating leases is calculated on the straight-line method over the lease term. The depreciable amount is the cost of the vehicle less its residual value. Our most significant finance subsidiary located in the United States determines contractual residual values of operating lease vehicles at lease inception based on expectations of used vehicle values at the end of their lease term. The finance subsidiary in the United States depreciates operating lease vehicles on a straight-line basis over the lease term to the lower of contract residual values or estimated end of term residual values. The finance subsidiary in the United States assesses its estimates for end of term residual values of lease vehicles, at minimum, on a quarterly basis. Adjustments to estimated residual values are made on a straight-line basis over the remaining term of the lease and are recognized as depreciation expense. Lease customers have the option at the end of the lease term to return the vehicle to the dealer or to buy the vehicle for the contractual residual value (or if purchased prior to lease maturity, for the outstanding contractual balance). Returned lease vehicles can be purchased by the grounding dealer for the contractual residual value (or if purchased prior to lease maturity, for the outstanding contractual balance) or a market based price. Returned lease vehicles that are not purchased by the grounding dealers are sold through online and physical auctions. Estimated end of term residual values are dependent on the percentage of leased vehicles expected to be returned by lessees and the expected market values of leased vehicles at the end of their lease terms. Factors considered in this evaluation include, among other factors, economic conditions, external market information on new and used vehicles, historical trends, and recent auction values. (g) Property, Plant and Equipment Property, plant and equipment is measured based on the cost model and carried at its cost less accumulated depreciation and impairment losses. Property, plant and equipment is initially measured at its cost. Subsequent expenditures on an item of property, plant and equipment acquired, are recognized in the carrying amount of the item, only when it is probable that the expenditure will generate a future economic benefit. Depreciation of property, plant and equipment, except for land that is not subject to depreciation, is calculated on the straight-line method over the estimated useful life. The depreciable amount is the cost of the asset less the respective estimated residual values. The estimated useful lives used in calculating depreciation of property, plant and equipment are mainly as follows: • Buildings and structures: 3 to 50 years • Machinery and equipment: 2 to 20 years The depreciation method, useful lives and residual values of property, plant and equipment are reviewed annually at each fiscal year end, and adjusted prospectively, if appropriate. Property, plant and equipment in the consolidated statements of financial position includes right-of-use right-of-use (h) Intangible Assets Intangible assets are measured based on the cost model and carried at their cost less accumulated amortization and impairment losses. (Research and development) Development expenditure for a product is capitalized only when there is a technical and commercial feasibility of completing the development, Honda has intention, ability and sufficient resources to use the outcome of the development, it is probable that the outcome will generate a future economic benefit, and the cost can be measured reliably. Capitalized development cost is measured at the sum of expenditures for development incurred between when the foregoing conditions for capitalization are initially met and when the development is completed, and includes all directly attributable costs to the development process. Capitalized development cost is amortized using the straight-line method over the expected product life cycle of the developed product ranging mainly from 2 to 6 years. Expenditures on research and other development expenditures which do not meet the foregoing conditions are expensed as incurred. (Other intangible asset) Other intangible assets are initially measured at cost and principally amortized using the straight-line method over their estimated useful lives. Other intangible assets are mainly comprised of software for internal use whose estimated useful lives range from 3 to 5 years. The amortization method and useful lives of intangible assets are reviewed annually at each fiscal year end, and adjusted prospectively, if appropriate. (i) Lease At inception of a contract, Honda assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. When Honda has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use and the right to direct the use of the identified asset, the contract conveys the right to control the use of the identified asset. 1) Lease as a lessee A right-of-use right-of-use non-lease non-lease non-lease The right-of-use right-of-use The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, Honda’s incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise mainly the fixed payments (including the lease payments in an optional renewal period if Honda is reasonably certain to exercise the extension option) and the penalties for termination of a lease unless Honda is reasonably certain not to terminate early. After the initial recognition, the lease liability is measured by increasing the carrying amount to reflect interest that produces a constant periodic rate of interest on the remaining balance of the lease liability and reducing the carrying amount to reflect the lease payments. The lease liability is remeasured if Honda changes its assessment of whether it will exercise an extension or termination option. When the lease liability is remeasured, the amount of the remeasurement of the lease liability is recognized as an adjustment to the right-of-use right-of-use 2) Lease as a lessor For a contract that is, or contains a lease, the lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset and the lease other than finance lease is classified as an operating lease. Honda assesses the lease classification of a sub-lease right-of-use The finance subsidiaries of the Company engage in the business of leasing vehicles as a lessor. A receivable from customer held under a finance lease is initially recognized at the amount of net investment in the lease which is the gross investment in the lease discounted at the interest rate implicit in the lease, and included in receivables from financial services in the consolidated statements of financial position. Vehicles subject to operating leases are presented as equipment on operating leases in the consolidated statements of financial position. If a contract contains lease and non-lease (j) Impairment 1) Financial assets measured at amortized cost and debt securities classified into financial assets measured at fair value through other comprehensive income The allowance for impairment losses of financial assets measured at amortized cost other than trade receivables and debt securities classified into financial assets measured at fair value through other comprehensive income is measured at amounts according to the three-stage expected credit loss (ECL) model: Stage 1 12-month Stage 2 Lifetime ECL for financial assets with a significant increase in credit risk since initial recognition but that are not credit-impaired Stage 3 Lifetime ECL for credit-impaired financial assets The allowance for impairment losses of trade receivables is continuously measured at amounts equal to lifetime ECL. Lifetime ECL represents ECL that results from all possible default events over the expected life of a financial asset. 12-month Receivables from financial services – Allowance for credit losses The allowance for credit losses is management’s estimate of expected credit loss on receivables from financial services. To determine whether credit risk has increased significantly, consumer finance receivables are assessed both individually and collectively. Individual assessments are based on delinquencies. Consumer finance receivables 30 days or greater past due have historically experienced increased default rates and therefore are considered to have a significant increase in credit risk. Collective assessments are performed for groups of consumer finance receivables with shared risk characteristics such as the period of initial recognition, collateral type, original term, and credit score considering relative changes in expected default rates since initial recognition. Dealer finance receivables are assessed at the individual dealership level to determine whether credit risk has increased significantly considering payment performance and other factors such as changes in the financial condition of the dealership and compliance with debt covenants. Our definition of default on receivables from financial services varies depending on internal risk management practices of each of our finance subsidiaries. Our most significant finance subsidiary located in the United States considers delinquencies of 60 days past due to be in default. Collection efforts on consumer finance receivables are escalated after becoming 60 days past due including repossession of the underlying vehicles if it has been determined that the borrower is unable to perform on their obligations. Defaulted consumer finance receivables are considered to be credit-impaired. Dealer finance receivables are considered to be credit-impaired when there is evidence we will be unable to collect all amounts due in accordance with the original contractual terms including significant financial difficulty of the dealership, a breach of contract, such as a default or delinquency, or bankruptcy. At the finance subsidiary in the United States, the estimated uncollectible portion of consumer finance receivables are written-off written-off At the finance subsidiary in the United States, ECL of consumer finance receivables is measured for groups of financial assets with shared risk characteristics by reflecting historical results, current conditions and forward-looking factors such as unemployment rates, used vehicles prices, and consumer debt service burdens. 2) Non-financial At the end of the reporting period, the carrying amount of non-financial For investments accounted for using the equity method, the entire carrying amount of each investment in affiliates and joint ventures is tested for impairment as a single asset, when there is objective evidence that the investments accounted for using the equity method may be impaired. The recoverable amount of an individual asset or a cash-generating unit is the higher of fair value less costs to sell and value in use. Value in use is determined as the present value of future cash flows expected to be derived from an asset or a cash-generating unit. A cash-generating unit is determined as the smallest identifiable group of assets that generate cash inflows which are largely independent of cash inflows from other assets or a group of assets. When it is not possible to estimate the recoverable amount of the individual asset, the recoverable amount of the cash-generating unit to which the asset belongs is estimated. When the carrying amount of an asset or a cash-generating unit exceeds the recoverable amount, the carrying amount is reduced to the recoverable amount and an impairment loss is recognized in profit or loss. An impairment loss for a cash-generating unit is allocated to the assets on the basis of the relative carrying amount of each asset in the unit. An impairment loss recognized for an asset or a cash-generating unit in prior period is reversed, if there is any indication that the impairment loss may have decreased or may no longer exist, and when the recoverable amount of the asset exceeds the carrying amount. If this is the case, the carrying amount of the asset is increased to its recoverable amount, but the increased carrying amount does not exceed the carrying amount (net of depreciation or amortization) calculated on the basis that no impairment loss had occurred in the prior period. (k) Provisions Provisions are recognized when Honda has present legal or constructive obligation as a result of past events, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. Provisions are measured based on the best estimate of expenditure required to settle the present obligation at the end of the reporting period. Where the effect of the time value of money is material, a provision is measured at the present value of the expenditures required to settle the obligation. In calculating the present value, a pre-tax (l) Employee Benefits 1) Short-term employee benefits For short-term employee benefits including salaries, bonuses and paid annual leave, when the employees render related services, the amounts expected to be paid in exchange for those services are recognized as expenses. 2) Post-employment benefits Honda has various post-employment benefit plans including defined benefit plans and defined contribution plans. Defined benefit plans For defined benefit plans, the present value of defined benefit obligations less the fair value of plan assets is recognized as either liability or asset in the consolidated statements of financial position. The present value of defined benefit obligations and service cost are principally determined for each plan using the projected unit credit method. The discount rate is determined by reference to market yields at the end of the reporting period on high quality corporate bonds that are consistent with the currency and estimated term of the post-employment benefit obligation. Net interest on the net defined benefit liability (asset) for the reporting period is determined by multiplying the net defined benefit liability (asset) by the discount rate. Past service cost defined as the change in the present value of the defined benefit obligation resulting from a plan amendment or curtailment is recognized in profit or loss upon occurrence of the plan amendment or curtailment. Honda recognizes the difference arising from remeasurement of present value of the defined benefit obligations and the fair value of the plan assets in other comprehensive income when it is incurred, and reclassifies it immediately to retained earnings. Defined contribution plans For defined contribution plans, when the employees render related services, the contribution payables to defined contribution plan are recognized as expenses. (m) Equity 1) Common share Common share issued by the Company is classified as equity, and the proceeds from issuance of common share are included in common stock and capital surplus. 2) Treasury stock Treasury stock acquired by Honda is recognized at cost and deducted from equity. When treasury stock is sold, the consideration received is recognized as equity with the difference between the carrying amount and the consideration received included in capital surplus. (n) Revenue Recognition 1) Sale of products Sales of products are reported by Motorcycle business, Automobile business, Power products and other businesses. For details of the information on each business, see note 4. Honda recognizes revenue when control over products is transferred to customers. This transfer generally corresponds to the date of delivery of products to customers. Revenue is measured based on consideration specified in a contract with customer and excludes amounts collected on behalf of third parties. The total consideration in the contract is allocated to all products and services based on their stand-alone selling prices. The stand-alone selling prices are determined with reference to the selling prices of similar products or services and other reasonably available information. Honda provides dealer incentives, which generally represent discounts provided from Honda to the dealer. Honda also provides incentive programs generally in the form of below-market interest rate loans or lease programs for the retail customers to enhance dealer’s sales activities. The amount incurred for these programs is calculated based on the difference between the interest or lease rate offered to retail customers and the market-based Customers usually pay consideration for sales of products within 30 days from the transfers of control over the products to customers. In addition, product sales contracts with customers include warranty clauses to guarantee that the products comply with agreed-upon specifications and Honda recognizes provisions for product warranties to meet these guarantees. For more information on product warranties, see note 17. 2) Rendering of financial services Interest income from receivables from financial services is recognized using the effective interest method. Finance receivable origination fees and certain direct origination costs are included in the calculation of the effective interest rate, and the net fee or cost is amortized using the effective interest method over the contractual term of the finance receivables. The finance subsidiaries of the Company offer financial services that contain a lease. Interest income from receivables held under a finance lease is recognized using the effective interest method. When Honda is the manufacturer or dealer lessor, sales revenue and the corresponding cost for a portion identified as sale of products is recognized in profit or loss in accordance with the policy on revenue recognition for sale of products. Revenue from operating leases is recognized on a straight-line basis over the term of the lease. (o) Income Taxes Income tax expenses are presented as the aggregate amount of current taxes and deferred taxes. Current taxes and deferred taxes are recognized in profit or loss, except for the tax arising from a transaction which is recognized either in other comprehensive income or directly in equity. Current taxes are measured at the amount expected to be paid to (or recovered from) the taxation authorities in respect of the taxable profit (or tax loss) for the reporting period, using the tax rates and tax laws enacted or substantively enacted at the end of the reporting period. Deferred tax assets and liabilities are recognized for future tax consequences attributable to temporary differences between the carrying amount of assets or liabilities in the consolidated statements of financial position and the tax base of the assets or liabilities and carryforward of unused tax losses and tax credits. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, unused tax losses, and unused tax credits can be utilized. Deferred tax liabilities for taxable temporary differences related to investments in subsidiaries and affiliates, and interest in joint ventures are not recognized to the extent that Honda is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future. Deferred tax assets for deductible temporary differences arising from investments in subsidiaries and affiliates, and interest in joint ventures are recognized to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which they can be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the assets are realized or the liabilities are settled, based on the tax rates and tax laws enacted or substantively enacted at the end of the reporting period. The measurement of deferred tax assets and liabilities reflects the tax consequences that would follow from the manner in which Honda expects, at the end of reporting period, to recover or settle the carrying amount of its assets and liabilities. Honda reviews the carrying amount of de |
Segment Information
Segment Information | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Segment Information | (4) Segment Information Based on Honda’s organizational structure and characteristics of products and services, Honda discloses segment information in four categories: Reportable segments of Motorcycle business, Automobile business and Financial services business, and other segments that are not reportable. The other segments are combined and disclosed in Power product s Principal products and services, and functions of each segment are as follows: Segment Principal products and services Functions Motorcycle Business Motorcycles, all-terrain side-by-sides Research and development Automobile Business Automobiles and relevant parts Research and development Financial Services Business Financial services Retail loan and lease related to Power Products and Other Businesses Power products and relevant parts, and others Research and development (a) Segment Information Segment information as of and for the years ended March 31, 2021, 2022 and 2023 is as follows: As of and for the year ended March 31, 2021 Yen (millions) Motorcycle Automobile Financial Power s Segment Reconciling Consolidated Sales revenue: External customers ¥ 1,787,283 ¥ 8,567,205 ¥ 2,494,294 ¥ 321,737 ¥ 13,170,519 ¥ — ¥ 13,170,519 Intersegment — 212,144 12,494 20,107 244,745 (244,745 ) — Total 1,787,283 8,779,349 2,506,788 341,844 13,415,264 (244,745 ) 13,170,519 Segment profit (loss) ¥ 224,608 ¥ 90,255 ¥ 356,980 ¥ (11,635 ) ¥ 660,208 ¥ — ¥ 660,208 Share of profit of investments accounted for using the equity method ¥ 18,164 ¥ 254,079 ¥ — ¥ 491 ¥ 272,734 ¥ — ¥ 272,734 Segment assets 1,555,057 8,643,109 10,832,645 374,169 21,404,980 516,050 21,921,030 Investments accounted for using the equity method 88,476 796,036 — 6,490 891,002 — 891,002 Depreciation and amortization 68,258 515,241 825,975 15,644 1,425,118 — 1,425,118 Capital expenditures 48,800 500,431 2,006,264 11,609 2,567,104 — 2,567,104 Impairment losses on non-financial 726 19,999 (16,319 ) 357 4,763 — 4,763 Provision (reversal) for credit and lease residual losses on receivables from financial services — — (5,038 ) — (5,038 ) — (5,038 ) As of and for the year ended March 31, 2022 Yen (millions) Motorcycle Automobile Financial Power s Segment Reconciling Consolidated Sales revenue: External customers ¥ 2,185,253 ¥ 9,147,498 ¥ 2,820,667 ¥ 399,278 ¥ 14,552,696 ¥ — ¥ 14,552,696 Intersegment — 213,095 2,656 22,480 238,231 (238,231 ) — Total 2,185,253 9,360,593 2,823,323 421,758 14,790,927 (238,231 ) 14,552,696 Segment profit (loss) ¥ 311,492 ¥ 236,207 ¥ 333,032 ¥ (9,499 ) ¥ 871,232 ¥ — ¥ 871,232 Share of profit of investments accounted for using the equity method ¥ 33,510 ¥ 168,415 ¥ — ¥ 587 ¥ 202,512 ¥ — ¥ 202,512 Segment assets 1,448,926 9,563,553 11,318,756 475,124 22,806,359 1,166,794 23,973,153 Investments accounted for using the equity method 104,535 855,309 — 7,560 967,404 — 967,404 Depreciation and amortization 65,423 510,755 883,712 17,018 1,476,908 — 1,476,908 Capital expenditures 49,203 410,169 2,028,700 15,748 2,503,820 — 2,503,820 Impairment losses on non-financial (23 ) 13,097 1,874 276 15,224 — 15,224 Provision (reversal) for credit and lease residual losses on receivables from financial services — — 9,282 — 9,282 — 9,282 As of and for the year ended March 31, 2023 Yen (millions) Motorcycle Automobile Financial Power s Segment Reconciling Consolidated Sales revenue: External customers ¥ 2,908,983 ¥ 10,593,519 ¥ 2,954,098 ¥ 451,125 ¥ 16,907,725 ¥ — ¥ 16,907,725 Intersegment — 188,198 2,046 25,307 215,551 (215,551 ) — Total 2,908,983 10,781,717 2,956,144 476,432 17,123,276 (215,551 ) 16,907,725 Segment profit (loss) ¥ 488,709 ¥ (16,629 ) ¥ 285,857 ¥ 22,832 ¥ 780,769 ¥ — ¥ 780,769 Share of profit of investments accounted for using the equity method ¥ 49,119 ¥ 66,973 ¥ — ¥ 1,353 ¥ 117,445 ¥ — ¥ 117,445 Segment assets 1,580,521 10,082,519 11,197,017 480,166 23,340,223 1,329,844 24,670,067 Investments accounted for using the equity method 110,665 795,973 — 9,308 915,946 — 915,946 Depreciation and amortization 65,746 600,617 908,942 21,571 1,596,876 — 1,596,876 Capital expenditures 59,101 613,351 1,546,683 14,386 2,233,521 — 2,233,521 Impairment losses on non-financial 4,662 24,777 5,259 91 34,789 — 34,789 Provision (reversal) for credit and lease residual losses on receivables from financial services — — 27,018 — 27,018 — 27,018 Explanatory notes: 1. Segment profit (loss) of each segment is measured in a consistent manner with consolidated operating profit, which is profit before income taxes before share of profit of investments accounted for using the equity method and finance income and finance costs. Expenses not directly associated with specific segments are allocated based on the most reasonable measures applicable. 2. Segment assets of each segment are defined as total assets including investments accounted for using the equity method, derivatives, and deferred tax assets. Segment assets are based on those directly associated with each segment and those not directly associated with specific segments are allocated based on the most reasonable measures applicable except for the corporate assets described below. 3. Intersegment sales revenues are generally made at values that approximate arm’s-length 4. Reconciling items include elimination of intersegment transactions and balances as well as unallocated corporate assets. Unallocated corporate assets, included in reconciling items as of March 31, 2021, 2022 and 2023 amounted to ¥696,327 million, ¥1,319,995 million and ¥1,462,656 million, respectively, which consist primarily of the Company’s cash and cash equivalents and financial assets measured at fair value through other comprehensive income. 5. Provisions for product warranties accrued for the years ended March 31, 2021, 2022 and 2023 are ¥272,076 million, ¥118,378 million and ¥289,850 million, respectively. These are mainly included in Automobile business. 6. The amounts of write-down of inventories recognized as an expense for the years ended March 31, 2021, 2022 and 2023 are ¥28,420 million, ¥11,295 million and ¥8,400 million respectively. These are related to Automobile business and aircraft and aircraft engines, which are included in Power product s 7. Right-of-use (b) Product or Service Groups Information Sales revenue by product or service groups of Honda for the years ended March 31, 2021, 2022 and 2023 is as follows: Yen (millions) 2021 2022 2023 Motorcycles and relevant parts ¥ 1,658,871 ¥ 2,066,557 ¥ 2,742,572 All-terrain side-by-sides 128,412 118,696 166,411 Automobiles and relevant parts 9,746,374 10,582,764 12,093,972 Financial services 1,315,125 1,385,401 1,453,645 Power products and relevant parts 257,237 294,577 360,385 Others 64,500 104,701 90,740 Total ¥ 13,170,519 ¥ 14,552,696 ¥ 16,907,725 (c) Geographical Information The sales revenue and carrying amounts of non-current As of and for the year ended March 31, 2021 Yen (millions) Japan United Other Total Sales revenue ¥ 2,190,797 ¥ 6,291,857 ¥ 4,687,865 ¥ 13,170,519 Non-current ¥ 3,050,270 ¥ 4,242,405 ¥ 1,641,793 ¥ 8,934,468 As of and for the year ended March 31, 2022 Yen (millions) Japan United Other Total Sales revenue ¥ 2,354,532 ¥ 6,728,800 ¥ 5,469,364 ¥ 14,552,696 Non-current ¥ 3,036,832 ¥ 4,490,562 ¥ 1,768,697 ¥ 9,296,091 As of and for the year ended March 31, 2023 Yen (millions) Japan United Other Total Sales revenue ¥ 2,409,584 ¥ 7,905,936 ¥ 6,592,205 ¥ 16,907,725 Non-current ¥ 2,937,148 ¥ 4,373,329 ¥ 1,728,475 ¥ 9,038,952 (d) Supplemental Geographical Information In addition to the disclosure required by IFRS, Honda provides the following supplemental information for the financial statements users: Supplemental geographical information based on the location of the Company and its subsidiaries As of and for the year ended March 31, 2021 Yen (millions) Japan North Europe Asia Other Total Reconciling Consolidated Sales revenue: External customers ¥ 2,190,797 ¥ 7,081,264 ¥ 503,549 ¥ 2,966,814 ¥ 428,095 ¥ 13,170,519 ¥ — ¥ 13,170,519 Inter-geographic areas 1,677,038 399,573 178,300 491,965 6,400 2,753,276 (2,753,276 ) — Total 3,867,835 7,480,837 681,849 3,458,779 434,495 15,923,795 (2,753,276 ) 13,170,519 Operating profit (loss) ¥ (75,935 ) ¥ 455,888 ¥ 27,460 ¥ 251,886 ¥ (5,034 ) ¥ 654,265 ¥ 5,943 ¥ 660,208 Assets ¥ 5,295,475 ¥ 12,209,455 ¥ 677,066 ¥ 3,267,417 ¥ 482,918 ¥ 21,932,331 ¥ (11,301 ) ¥ 21,921,030 Non-current ¥ 3,050,270 ¥ 5,039,085 ¥ 60,790 ¥ 666,795 ¥ 117,528 ¥ 8,934,468 ¥ — ¥ 8,934,468 As of and for the year ended March 31, 2022 Yen (millions) Japan North Europe Asia Other Total Reconciling Consolidated Sales revenue: External customers ¥ 2,354,532 ¥ 7,618,932 ¥ 602,695 ¥ 3,393,323 ¥ 583,214 ¥ 14,552,696 ¥ — ¥ 14,552,696 Inter-geographic areas 2,004,754 471,255 98,516 662,124 9,925 3,246,574 (3,246,574 ) — Total 4,359,286 8,090,187 701,211 4,055,447 593,139 17,799,270 (3,246,574 ) 14,552,696 Operating profit (loss) ¥ 6,411 ¥ 501,073 ¥ 26,681 ¥ 339,129 ¥ 22,899 ¥ 896,193 ¥ (24,961 ) ¥ 871,232 Assets ¥ 5,318,033 ¥ 12,983,779 ¥ 597,473 ¥ 3,803,877 ¥ 619,998 ¥ 23,323,160 ¥ 649,993 ¥ 23,973,153 Non-current ¥ 3,036,832 ¥ 5,334,121 ¥ 49,129 ¥ 706,562 ¥ 169,447 ¥ 9,296,091 ¥ — ¥ 9,296,091 As of and for the year ended March 31, 2023 Yen (millions) Japan North Europe Asia Other Total Reconciling Consolidated Sales revenue: External customers ¥ 2,409,584 ¥ 8,939,259 ¥ 675,728 ¥ 4,068,234 ¥ 814,920 ¥ 16,907,725 ¥ — ¥ 16,907,725 Inter-geographic areas 2,138,418 476,993 27,990 789,603 4,695 3,437,699 (3,437,699 ) — Total 4,548,002 9,416,252 703,718 4,857,837 819,615 20,345,424 (3,437,699 ) 16,907,725 Operating profit (loss) ¥ 25,821 ¥ 258,805 ¥ (2,556 ) ¥ 408,728 ¥ 58,935 ¥ 749,733 ¥ 31,036 ¥ 780,769 Assets ¥ 5,306,084 ¥ 13,467,383 ¥ 648,614 ¥ 3,771,171 ¥ 690,904 ¥ 23,884,156 ¥ 785,911 ¥ 24,670,067 Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets ¥ 2,937,148 ¥ 5,192,731 ¥ 47,869 ¥ 685,311 ¥ 175,893 ¥ 9,038,952 ¥ — ¥ 9,038,952 Explanatory notes: 1. Major countries in each geographic area: North America United States, Canada, Mexico Europe United Kingdom, Germany, Belgium, Italy, France Asia Thailand, China, India, Vietnam, Malaysia Other Regions Brazil, Australia 2. Operating profit (loss) of each geographical region is measured in a consistent manner with consolidated operating profit, which is profit before income taxes before share of profit of investments accounted for using the equity method and finance income and finance costs. 3. Assets of each geographical region are defined as total assets including investments accounted for using the equity method, derivatives, and deferred tax assets. 4. Sales revenues between geographic areas are generally made at values that approximate arm’s-length 5. Reconciling items include elimination of inter-geographic transactions and balances as well as unallocated corporate assets. Unallocated corporate assets, included in reconciling items as of March 31, 2021, 2022 and 2023 amounted to ¥696,327 million, ¥1,319,995 million and ¥1,462,656 million, respectively, which consist primarily of the Company’s cash and cash equivalents and financial assets measured at fair value through other comprehensive income. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Cash and Cash Equivalents | (5) Cash and Cash Equivalents Cash and cash equivalents as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Cash and deposits ¥ 2,654,447 ¥ 2,822,949 Cash equivalents 1,020,484 980,065 Total ¥ 3,674,931 ¥ 3,803,014 Cash equivalents held by Honda mainly consist of money market funds and certificates of deposit. |
Trade Receivables
Trade Receivables | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Trade Receivables | (6) Trade Receivables Trade receivables are classified as financial assets measured at amortized cost. Trade receivables as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Trade accounts and notes receivable ¥ 793,022 ¥ 900,312 Other 112,591 168,579 Allowance for impairment losses (8,845 ) (8,620 ) Total ¥ 896,768 ¥ 1,060,271 The changes in the allowance for impairment losses on trade receivables for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) 2021 2022 2023 Balance at beginning of year ¥ 11,302 ¥ 10,521 ¥ 8,845 Remeasurement ¥ 516 ¥ 260 ¥ 297 Write-offs (1,312 ) (2,648 ) (757 ) Exchange differences on translating foreign operations 15 712 235 Balance at end of year ¥ 10,521 ¥ 8,845 ¥ 8,620 |
Receivables from Financial Serv
Receivables from Financial Services | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Receivables from Financial Services | (7) Receivables from Financial Services The finance subsidiaries of the Company provide various financial services to customers and dealers in order to support the sale of products. These receivables from financial services are categorized as follows: Consumer finance receivables: Retail receivables primarily consist of receivables from installment contracts with customers. Finance lease receivables primarily consist of receivables from non-cancelable Dealer finance receivables: Wholesale receivables primarily consist of financing receivables from dealers for the purchase of inventories and dealer loans. Receivables from financial services are mainly classified into financial assets measured at amortized cost. Receivables from financial services as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Consumer finance receivables: Retail ¥ 5,054,428 ¥ 5,363,260 Finance lease 145,932 174,256 Dealer finance receivables: Wholesale 284,506 421,166 Subtotal ¥ 5,484,866 ¥ 5,958,682 Allowance for credit losses ¥ (39,063 ) ¥ (48,652 ) Unearned interest income and fees (11,307 ) (15,278 ) Total ¥ 5,434,496 ¥ 5,894,752 Current assets ¥ 1,694,113 ¥ 1,899,493 Non-current 3,740,383 3,995,259 Total ¥ 5,434,496 ¥ 5,894,752 Finance lease receivables The lease payments receivable under the finance leases by maturity as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Within 1 year ¥ 25,066 ¥ 32,525 Between 1 and 2 years 25,569 33,924 Between 2 and 3 years 13,192 20,381 Between 3 and 4 years 9,335 13,497 Between 4 and 5 years 2,153 4,020 Later than 5 years 1,827 5,008 Undiscounted lease payments receivable ¥ 77,142 ¥ 109,355 Unearned finance income ¥ (4,603 ) ¥ (8,417 ) Unguaranteed residual value ¥ 62,086 ¥ 58,040 Net investment in the lease ¥ 134,625 ¥ 158,978 For the nature of the lessor’s leasing activities and the risk management strategy, see note 3(i) and (j Allowance for credit losses The changes in the allowance for credit losses on receivables from financial services for the years ended March 31, 2021, 2022 and 2023 are as follows: For the years ended March 31, 2021, 2022 and 2023 Yen (millions) 12-month ECL Lifetime ECL Total Not credit-impaired Credit-impaired Retail: Balance as of April 1, 2020 ¥ 26,655 ¥ 26,632 ¥ 6,954 ¥ 60,241 Remeasurement ¥ (3,286 ) ¥ (20,319 ) ¥ 18,827 ¥ (4,778 ) Write-offs — (20,733 ) (20,733 ) Exchange differences on translating foreign operations 111 (390 ) (165 ) (444 ) Balance as of March 31, 2021 ¥ 23,480 ¥ 5,923 ¥ 4,883 ¥ 34,286 Remeasurement ¥ (2,513 ) ¥ (925 ) ¥ 13,701 ¥ 10,263 Write-offs — — (12,256 ) (12,256 ) Exchange differences on translating foreign operations 2,822 516 1,136 4,474 Balance as of March 31, 2022 ¥ 23,789 ¥ 5,514 ¥ 7,464 ¥ 36,767 Remeasurement ¥ 868 ¥ 5,288 ¥ 20,673 ¥ 26,829 Write-offs — — (19,942 ) (19,942 ) Exchange differences on translating foreign operations 1,810 270 349 2,429 Balance as of March 31, 2023 ¥ 26,467 ¥ 11,072 ¥ 8,544 ¥ 46,083 Finance lease: Balance as of April 1, 2020 ¥ 481 ¥ 96 ¥ 113 ¥ 690 Remeasurement ¥ (65 ) ¥ 71 ¥ 136 ¥ 142 Write-offs — — (107 ) (107 ) Exchange differences on translating foreign operations 54 17 17 88 Balance as of March 31, 2021 ¥ 470 ¥ 184 ¥ 159 ¥ 813 Remeasurement ¥ (339 ) ¥ (98 ) ¥ 182 ¥ (255 ) Write-offs — — (97 ) (97 ) Exchange differences on translating foreign operations 8 6 12 26 Balance as of March 31, 2022 ¥ 139 ¥ 92 ¥ 256 ¥ 487 Remeasurement ¥ 49 ¥ (28 ) ¥ (24 ) ¥ (3 ) Write-offs — — (35 ) (35 ) Exchange differences on translating foreign operations 4 5 7 16 Balance as of March 31, 2023 ¥ 192 ¥ 69 ¥ 204 ¥ 465 Yen (millions) 12-month ECL Lifetime ECL Total Not credit-impaired Credit-impaired Wholesale: Balance as of April 1, 2020 ¥ 1,437 ¥ 318 ¥ 782 ¥ 2,537 Remeasurement ¥ 160 ¥ (270 ) ¥ (292 ) ¥ (402 ) Write-offs — — 18 18 Exchange differences on translating foreign operations 144 14 (44 ) 114 Balance as of March 31, 2021 ¥ 1,741 ¥ 62 ¥ 464 ¥ 2,267 Remeasurement ¥ (649 ) ¥ (46 ) ¥ (31 ) ¥ (726 ) Write-offs — — 30 30 Exchange differences on translating foreign operations 84 1 153 238 Balance as of March 31, 2022 ¥ 1,176 ¥ 17 ¥ 616 ¥ 1,809 Remeasurement ¥ (263 ) ¥ (8 ) ¥ 463 ¥ 192 Write-offs — — 33 33 Exchange differences on translating foreign operations 63 1 6 70 Balance as of March 31, 2023 ¥ 976 ¥ 10 ¥ 1,118 ¥ 2,104 Total: Balance as of April 1, 2020 ¥ 28,573 ¥ 27,046 ¥ 7,849 ¥ 63,468 Remeasurement ¥ (3,191 ) ¥ (20,518 ) ¥ 18,671 ¥ (5,038 ) Write-offs — — (20,822 ) (20,822 ) Exchange differences on translating foreign operations 309 (359 ) (192 ) (242 ) Balance as of March 31, 2021 ¥ 25,691 ¥ 6,169 ¥ 5,506 ¥ 37,366 Remeasurement ¥ (3,501 ) ¥ (1,069 ) ¥ 13,852 ¥ 9,282 Write-offs — — (12,323 ) (12,323 ) Exchange differences on translating foreign operations 2,914 523 1,301 4,738 Balance as of March 31, 2022 ¥ 25,104 ¥ 5,623 ¥ 8,336 ¥ 39,063 Remeasurement ¥ 654 ¥ 5,252 ¥ 21,112 ¥ 27,018 Write-offs — — (19,944 ) (19,944 ) Exchange differences on translating foreign operations 1,877 276 362 2,515 Balance as of March 31, 2023 ¥ 27,635 ¥ 11,151 ¥ 9,866 ¥ 48,652 For more information on allowance for credit losses, see note 25(c). |
Other Financial Assets
Other Financial Assets | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Other Financial Assets | (8) Other Financial Assets Other financial assets as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Financial assets measured at amortized cost: Receivables other than trade receivables and receivables from financial services ¥ 166,936 ¥ 164,503 Debt securities 79,176 85,235 Guaranty deposits 11,499 12,689 Restricted cash 53,290 65,723 Other 4,352 4,167 Allowance for impairment losses (3,212 ) (2,988 ) Financial assets measured at fair value through other comprehensive income: Debt securities 19,984 26,555 Equity securities 468,783 475,138 Financial assets measured at fair value through profit or loss: Derivatives 134,338 185,968 Debt securities 102,251 101,972 Total ¥ 1,037,397 ¥ 1,118,962 Current assets ¥ 217,743 ¥ 263,892 Non-current 819,654 855,070 Total ¥ 1,037,397 ¥ 1,118,962 The changes in the allowance for impairment losses on other financial assets for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) 2021 2022 2023 Balance at beginning of year ¥ 3,364 ¥ 3,358 ¥ 3,212 Remeasurement ¥ 792 ¥ 42 ¥ 232 Write-offs (805 ) (191 ) (461 ) Exchange differences on translating foreign operations 7 3 5 Balance at end of year ¥ 3,358 ¥ 3,212 ¥ 2,988 The allowance for impairment losses on other financial assets for the years ended March 31, 2021, 2022 and 2023 are mainly for credit-impaired financial assets. Major securities included in the equity securities designated as financial assets measured at fair value through other comprehensive income as of March 31, 2022 and 2023 are as follows: As of March 31, 2022 Yen (millions) Fair value Contemporary Amperex Technology Co., Ltd. ¥ 226,938 GM Cruise Holdings LLC 105,916 Stanley Electric Co., Ltd. 21,463 Mitsubishi UFJ Financial Group, Inc. 11,026 SES AI Corporation 8,307 Tokio Marine Holdings, Inc. 7,789 As of March 31, 2023 Yen (millions) Fair value Contemporary Amperex Technology Co., Ltd. ¥ 181,366 GM Cruise Holdings LLC 115,556 Stanley Electric Co., Ltd. 49,051 Mitsubishi UFJ Financial Group, Inc. 12,296 Tokio Marine Holdings, Inc. 8,349 Chubb Limited 7,998 |
Inventories
Inventories | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Inventories | (9) Inventories Inventories as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Finished goods ¥ 907,872 ¥ 1,154,926 Work in process 90,871 95,041 Raw materials 919,805 917,217 Total ¥ 1,918,548 ¥ 2,167,184 The amounts of write-down of inventories recognized as an expense for the years ended March 31, 2021, 2022 and 2023 are ¥28,420 million, ¥11,295 million and ¥8,400 million, respectively. |
Investments Accounted for Using
Investments Accounted for Using the Equity Method | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Investments Accounted for Using the Equity Method | (10) Investments accounted for using the equity method Honda’s equity in affiliates and joint ventures as of March 31, 2022 and 2023 is as follows: Yen (millions) 2022 2023 Investments accounted for using the equity method: Affiliates ¥ 544,563 ¥ 499,942 Joint ventures 422,841 416,004 Total ¥ 967,404 ¥ 915,946 Honda’s equity of undistributed earnings: Affiliates ¥ 177,231 ¥ 87,284 Joint ventures 279,288 259,675 Total ¥ 456,519 ¥ 346,959 For the year ended March 31, 2023, for certain investments accounted for using the equity method with quoted market prices in active markets, the Company recognized impairment losses to the recoverable amounts based on the fair values because there was objective evidence of impairment due to declines in quoted market prices. Furthermore, for certain investments accounted for using the equity method with no quoted market prices in active markets, the Company recognized impairment losses to the recoverable amounts based on the value in use because there was objective evidence of impairment where the transaction price in the share purchase agreement executed during the year ended March 31, 2023 was below the acquisition cost. The Company recognized impairment losses of ¥68,545 million in total, which are included in share of profit of investments accounted for using the equity method in the consolidated statements of income and mainly included in Automobile business. Honda’s share of comprehensive income of affiliates and joint ventures for the years ended March 31, 2021, 2022 and 2023 is as follows: Yen (millions) 2021 2022 2023 Profit for the year: Affiliates ¥ 53,511 ¥ (17,844 ) ¥ (81,504 ) Joint ventures 219,223 220,356 198,949 Total ¥ 272,734 ¥ 202,512 ¥ 117,445 Other comprehensive income: Affiliates ¥ (1,197 ) ¥ 26,673 ¥ 25,920 Joint ventures 33,457 52,560 4,801 Total ¥ 32,260 ¥ 79,233 ¥ 30,721 Comprehensive income for the year: Affiliates ¥ 52,314 ¥ 8,829 ¥ (55,584 ) Joint ventures 252,680 272,916 203,750 Total ¥ 304,994 ¥ 281,745 ¥ 148,166 Investments accounted for using the equity method, Honda’s equity of undistributed earnings, profit for the year, other comprehensive income and comprehensive income for the year items include a joint venture that is material to the Company. (Material joint venture) Dongfeng Honda Automobile Co., Ltd. is a joint venture that is material to the Company. Dongfeng Honda Automobile Co., Ltd., located in Wuhan City, China, manufactures and sells automobile products. Honda and Dongfeng Motor Corporation each holds 50% equity stake in Dongfeng Honda Automobile Co., Ltd. Summarized consolidated financial information of Dongfeng Honda Automobile Co., Ltd. as of March 31, 2022 and 2023 is as follows: Yen (millions) 2022 2023 Current assets ¥ 747,397 ¥ 615,524 Non-current 252,219 279,691 Total assets 999,616 895,215 Current liabilities 610,379 520,257 Non-current 34,182 31,680 Total liabilities 644,561 551,937 Total equity ¥ 355,055 ¥ 343,278 Honda’s share of total equity (50%) 177,527 171,639 Equity method adjustments (697 ) (636 ) Carrying amount of its interest in the joint venture ¥ 176,830 ¥ 171,003 Cash and cash equivalents included in current assets ¥ 301,839 ¥ 99,862 Financial liabilities (excluding trade payables and provisions) included in current liabilities 6,168 6,803 Summarized consolidated financial information of Dongfeng Honda Automobile Co., Ltd. for the years ended March 31, 2021, 2022 and 2023 is as follows: Yen (millions) 2021 2022 2023 Sales revenue ¥ 2,201,051 ¥ 1,994,534 ¥ 1,777,882 Interest income 9,412 10,653 8,441 Depreciation and amortization 23,055 25,996 28,052 Income tax expense 65,102 60,868 52,826 Profit for the year 197,217 182,989 157,914 Other comprehensive income 25,462 44,812 3,256 Comprehensive income for the year ¥ 222,679 ¥ 227,801 ¥ 161,170 Comprehensive income for the year (50%) 111,340 113,901 80,585 Equity method adjustments 53 607 67 Honda’s share of comprehensive income for the year ¥ 111,393 ¥ 114,508 ¥ 80,652 Dividend from the joint venture to Honda ¥ 102,767 ¥ 79,191 ¥ 86,506 Combined financial information in respect of affiliates as of March 31, 2022 and 2023, and for the years ended March 31, 2021, 2022 and 2023 is as follows: Yen (millions) For the year ended March 31, 2021 Motorcycle Automobile Power Product s Total Sales revenue ¥ 122,605 ¥ 1,933,675 ¥ 6,331 ¥ 2,062,611 Profit for the year 2,552 2,593 843 5,988 Yen (millions) As of and for the year ended March 31, 2022 Motorcycle Automobile Power Product s Total Current assets ¥ 64,324 ¥ 1,542,414 ¥ 14,313 ¥ 1,621,051 Non-current 28,330 2,030,822 22,928 2,082,080 Total assets 92,654 3,573,236 37,241 3,703,131 Current liabilities 25,819 1,013,738 3,768 1,043,325 Non-current 5,003 583,308 1,065 589,376 Total liabilities 30,822 1,597,046 4,833 1,632,701 Total equity ¥ 61,832 ¥ 1,976,190 ¥ 32,408 ¥ 2,070,430 Sales revenue ¥ 173,696 ¥ 3,120,190 ¥ 7,146 ¥ 3,301,032 Profit for the year 7,233 73,169 996 81,398 Yen (millions) As of and for the year ended March 31, 2023 Motorcycle Automobile Power Product s Total Current assets ¥ 64,051 ¥ 1,746,374 ¥ 18,441 ¥ 1,828,866 Non-current 25,654 2,050,459 24,110 2,100,223 Total assets 89,705 3,796,833 42,551 3,929,089 Current liabilities 29,887 1,205,478 4,319 1,239,684 Non-current 3,109 539,040 655 542,804 Total liabilities 32,996 1,744,518 4,974 1,782,488 Total equity ¥ 56,709 ¥ 2,052,315 ¥ 37,577 ¥ 2,146,601 Sales revenue ¥ 189,332 ¥ 3,800,943 ¥ 9,187 ¥ 3,999,462 Profit for the year 10,038 (45,204 ) 1,901 (33,265 ) Combined financial information in respect of joint ventures as of March 31, 2022 and 2023, and for the years ended March 31, 2021, 2022 and 2023 is as follows: Yen (millions) For the year ended March 31, 2021 Motorcycle Automobile Power Product s Total Sales revenue ¥ 543,504 ¥ 4,839,927 ¥ 3,443 ¥ 5,386,874 Profit for the year 33,115 403,088 174 436,377 Yen (millions) As of and for the year ended March 31, 2022 Motorcycle Automobile Power Product s Total Current assets ¥ 272,962 ¥ 1,810,581 ¥ 4,771 ¥ 2,088,314 Non-current 130,271 479,707 909 610,887 Total assets 403,233 2,290,288 5,680 2,699,201 Current liabilities 227,215 1,513,623 1,704 1,742,542 Non-current 17,769 70,675 665 89,109 Total liabilities 244,984 1,584,298 2,369 1,831,651 Total equity ¥ 158,249 ¥ 705,990 ¥ 3,311 ¥ 867,550 Sales revenue ¥ 811,764 ¥ 4,612,394 ¥ 3,940 ¥ 5,428,098 Profit for the year 62,907 375,642 363 438,912 Yen (millions) As of and for the year ended March 31, 2023 Motorcycle Automobile Power Product s Total Current assets ¥ 337,603 ¥ 1,579,996 ¥ 3,677 ¥ 1,921,276 Non-current 134,567 544,319 989 679,875 Total assets 472,170 2,124,315 4,666 2,601,151 Current liabilities 275,607 1,397,048 1,791 1,674,446 Non-current 23,272 74,136 2,184 99,592 Total liabilities 298,879 1,471,184 3,975 1,774,038 Total equity ¥ 173,291 ¥ 653,131 ¥ 691 ¥ 827,113 Sales revenue ¥ 1,071,031 ¥ 4,360,348 ¥ 6,022 ¥ 5,437,401 Profit for the year 93,766 304,119 1,779 399,664 The amounts of a joint venture that is material to the Company are included in above. (Management Integration) Through tender offers (the “Tender Offers”) targeting our former affiliates accounted for using the equity method which were Keihin Corporation, Showa Corporation and Nissin Kogyo Co., Ltd. (collectively, the “Target Companies”) conducted by Honda from September 2, 2020 to October 15, 2020 and the subsequent procedures for demand for sale of shares pursuant to the provisions of Article 179 of the Company Law of Japan, Honda has obtained all of the common shares of the Target Companies (excluding the common shares of the Target Companies owned by Honda and treasury shares owned by the Target Companies) for the year ended March 31, 2021. In accordance with the basic contract agreed between Hitachi, Ltd., Hitachi Automotive Systems, Ltd. (“Hitachi Automotive Systems”) which is a consolidated subsidiary of Hitachi, Ltd., the Target Companies and Honda on October 30, 2019 to conduct a management integration, agreements of absorption-type merger in which Hitachi Automotive Systems will be the surviving company, and the Target Companies will be the disappearing companies (the “Absorption-type Merger”) were respectively concluded between each of the Target Companies and Hitachi Automotive Systems on November 18, 2020. In the Absorption-type Merger, common shares of the surviving company after the Absorption-type Merger (the “Integrated Company”) were allotted to Honda as the consideration for the merger, in a merger ratio where the number of voting rights of the Integrated Company held by Honda will account for 33.4% of the number of voting rights held by all shareholders of the Integrated Company. On January 1, 2021, the effective date of Absorption-type Merger, the Integrated Company became our affiliate accounted for using the equity method. As of the same date, the Integrated Company changed its name to “Hitachi Astemo, Ltd.” Prior to the effective date of the Absorption-type Merger, in order to have the ratio of the total share value of the Target Companies to Hitachi Automotive Systems’ share value correspond to the above merger ratio, the share values of the Target Companies had been adjusted through acquisitions of treasury shares by the Target Companies. For the year ended March 31, 2021, upon the successful completion of the Tender Offers for the Target Companies, the Company recognized reversal of impairment losses of ¥56,849 million which had been previously recognized on the investments in certain Target Companies accounted for using the equity method, based on quoted market values which had increased since the announcement of the Tender Offers. The reversal of impairment losses is included in share of profit of investments accounted for using the equity method in the consolidated statements of income and mainly included in Automobile business. For the year ended March 31, 2022 and 2023, the Company did not recognize any significant reversal of impairment losses. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Mar. 31, 2023 | |
Equipment on operating leases [member] | |
Statement [LineItems] | |
Property, Plant and Equipment | (11) Equipment on Operating Leases Equipment on operating leases are mainly vehicles. The changes in cost, accumulated depreciation and impairment losses, and the carrying amounts of equipment on operating leases for the years ended March 31, 2022 and 2023 are as follows: (Cost) Yen (millions) Balance as of April 1, 2021 ¥ 6,302,709 Additions ¥ 2,026,098 Sales or disposal (2,171,117 ) Exchange differences on translating foreign operations 509,447 Other — Balance as of March 31, 2022 ¥ 6,667,137 Additions ¥ 1,543,448 Sales or disposal (2,357,684 ) Exchange differences on translating foreign operations 414,052 Other — Balance as of March 31, 2023 ¥ 6,266,953 (Accumulated depreciation and impairment losses) Yen (millions) Balance as of April 1, 2021 ¥ (1,382,793 ) Depreciation ¥ (879,196 ) Sales or disposal 856,835 Exchange differences on translating foreign operations (100,982 ) Other (1,872 ) Balance as of March 31, 2022 ¥ (1,508,008 ) Depreciation ¥ (904,778 ) Sales or disposal 955,122 Exchange differences on translating foreign operations (77,740 ) Other (5,257 ) Balance as of March 31, 2023 ¥ (1,540,661 ) (Carrying amount) Yen (millions) Balance as of March 31, 2022 ¥ 5,159,129 Balance as of March 31, 2023 4,726,292 (Future lease payments) Future lease payments expected to be received under the operating leases by maturity as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Within 1 year ¥ 824,769 ¥ 737,110 Between 1 and 2 years 574,536 458,830 Between 2 and 3 years 240,437 220,722 Between 3 and 4 years 84,911 78,727 Between 4 and 5 years 27,796 25,641 Later than 5 years — 10,148 Total ¥ 1,752,449 ¥ 1,531,178 Future lease payments expected to be received as shown above should not necessarily be considered indicative of future cash collections. (Lease income) Operating leases income for the years ended March 31, 2022 and 2023 are ¥1,134,898 million and ¥1,152,964 million, respectively. |
Property, plant and equipment [member] | |
Statement [LineItems] | |
Property, Plant and Equipment | (12) Property, Plant and Equipment The changes in cost, accumulated depreciation and impairment losses, and the carrying amounts of property, plant and equipment for the years ended March 31, 2022 and 2023 are as follows: (Cost) Yen (millions) Land Buildings and Machinery and Construction in Total Balance as of April 1, 2021 ¥ 628,724 ¥ 2,558,905 ¥ 5,687,117 ¥ 217,198 ¥ 9,091,944 Additions 8,473 26,268 102,835 229,253 366,829 Reclassification 387 28,766 199,242 (228,395 ) — Sales or disposal (4,151 ) (33,722 ) (275,348 ) — (313,221 ) Exchange differences on translating foreign operations 11,585 123,536 429,662 21,124 585,907 Other 454 (5,487 ) 4,421 (1,606 ) (2,218 ) Balance as of March 31, 2022 ¥ 645,472 ¥ 2,698,266 ¥ 6,147,929 ¥ 237,574 ¥ 9,729,241 Additions 10,366 35,335 87,630 444,732 578,063 Reclassification 4,198 47,021 476,942 (528,161 ) — Sales or disposal (9,980 ) (80,024 ) (297,580 ) — (387,584 ) Deconsolidation (3,580 ) (19,932 ) (82,733 ) (3,384 ) (109,629 ) Exchange differences on translating foreign operations 7,167 84,744 285,024 16,047 392,982 Other 275 (6,556 ) (1,572 ) (2,029 ) (9,882 ) Balance as of March 31, 2023 ¥ 653,918 ¥ 2,758,854 ¥ 6,615,640 ¥ 164,779 ¥ 10,193,191 (Accumulated depreciation and impairment losses) Yen (millions) Land Buildings and Machinery and Construction in Total Balance as of April 1, 2021 ¥ (16,609 ) ¥ (1,496,313 ) ¥ (4,555,420 ) ¥ (2,088 ) ¥ (6,070,430 ) Depreciation (7,087 ) (88,928 ) (342,254 ) — (438,269 ) Sales or disposal 1,403 22,920 251,628 — 275,951 Exchange differences on translating foreign operations (235 ) (68,557 ) (344,775 ) (19 ) (413,586 ) Other (391 ) (2,324 ) (1,889 ) 1,104 (3,500 ) Balance as of March 31, 2022 ¥ (22,919 ) ¥ (1,633,202 ) ¥ (4,992,710 ) ¥ (1,003 ) ¥ (6,649,834 ) Depreciation (6,025 ) (96,136 ) (410,340 ) — (512,501 ) Sales or disposal 6,090 72,290 274,535 — 352,915 Deconsolidation 2,580 18,743 80,882 3,384 105,589 Exchange differences on translating foreign operations (87 ) (48,748 ) (245,648 ) 126 (294,357 ) Other (2,863 ) (7,768 ) (12,857 ) (3,406 ) (26,894 ) Balance as of March 31, 2023 ¥ (23,224 ) ¥ (1,694,821 ) ¥ (5,306,138 ) ¥ (899 ) ¥ (7,025,082 ) (Carrying amount) Yen (millions) Land Buildings and Machinery and Construction in Total Balance as of March 31, 2022 ¥ 622,553 ¥ 1,065,064 ¥ 1,155,219 ¥ 236,571 ¥ 3,079,407 Balance as of March 31, 2023 630,694 1,064,033 1,309,502 163,880 3,168,109 For commitments for purchases of property, plant and equipment, see note 28. (Right-of-use Property, plant and equipment in the consolidated statements of financial position includes the right-of-use Honda leases mainly dealer’s stores, company housing and parking lots, under arrangements that often contain extension and termination options. Since lease contracts are managed at each company and individually negotiated, the lease contracts include various terms. Extension and termination options are included mainly in order to enhance operational flexibly of each company. The changes in the carrying amounts of the right-of-use Yen (millions) Land Buildings and Machinery and Total Balance as of April 1, 2021 ¥ 80,543 ¥ 135,303 ¥ 79,484 ¥ 295,330 Additions 8,283 18,952 61,189 88,424 Depreciation (7,087 ) (15,882 ) (45,326 ) (68,295 ) Other (102 ) (8,192 ) 535 (7,759 ) Balance as of March 31, 2022 ¥ 81,637 ¥ 130,181 ¥ 95,882 ¥ 307,700 Additions 10,386 30,294 43,474 84,154 Depreciation (6,025 ) (15,887 ) (51,193 ) (73,105 ) Other 370 (8,529 ) (2,245 ) (10,404 ) Balance as of March 31, 2023 ¥ 86,368 ¥ 136,059 ¥ 85,918 ¥ 308,345 |
Intangible Assets
Intangible Assets | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Intangible Assets | (13) Intangible Assets The changes in cost, accumulated amortization and impairment losses, and carrying amounts of intangible assets for the years ended March 31, 2022 and 2023 are as follows: (Cost) Yen (millions) Capitalized Software Other Total Balance as of April 1, 2021 ¥ 1,108,616 ¥ 429,222 ¥ 60,905 ¥ 1,598,743 Additions ¥ — ¥ 8,597 ¥ 11,235 ¥ 19,832 Internally developed 159,174 20,311 — 179,485 Sales or disposal (118,065 ) (15,760 ) (12,966 ) (146,791 ) Exchange differences on translating foreign 6,565 22,365 6,057 34,987 Other — (2,484 ) (339 ) (2,823 ) Balance as of March 31, 2022 ¥ 1,156,290 ¥ 462,251 ¥ 64,892 ¥ 1,683,433 Additions ¥ — ¥ 12,163 ¥ 35,103 ¥ 47,266 Internally developed 120,811 28,088 — 148,899 Sales or disposal (267,115 ) (5,107 ) (9,741 ) (281,963 ) Exchange differences on translating foreign 4,280 15,870 3,503 23,653 Other — 4,285 (336 ) 3,949 Balance as of March 31, 2023 ¥ 1,014,266 ¥ 517,550 ¥ 93,421 ¥ 1,625,237 (Accumulated amortization and impairment losses) Yen (millions) Capitalized Software Other Total Balance as of April 1, 2021 ¥ (437,213 ) ¥ (329,104 ) ¥ (13,663 ) ¥ (779,980 ) Amortization ¥ (129,384 ) ¥ (29,290 ) ¥ (769 ) ¥ (159,443 ) Sales or disposal 118,065 15,003 3,447 136,515 Exchange differences on translating foreign operations (1,288 ) (17,442 ) (906 ) (19,636 ) Other (12,821 ) 1,364 75 (11,382 ) Balance as of March 31, 2022 ¥ (462,641 ) ¥ (359,469 ) ¥ (11,816 ) ¥ (833,926 ) Amortization ¥ (149,659 ) ¥ (29,058 ) ¥ (880 ) ¥ (179,597 ) Sales or disposal 267,115 4,693 938 272,746 Exchange differences on translating foreign operations (719 ) (12,893 ) (758 ) (14,370 ) Other — (1,036 ) 1,846 810 Balance as of March 31, 2023 ¥ (345,904 ) ¥ (397,763 ) ¥ (10,670 ) ¥ (754,337 ) (Carrying amount) Yen (millions) Capitalized Software Other Total Balance as of March 31, 2022 ¥ 693,649 ¥ 102,782 ¥ 53,076 ¥ 849,507 Balance as of March 31, 2023 668,362 119,787 82,751 870,900 Amortization of capitalized development costs is included in research and development, and amortization of other intangible assets is included in cost of sales, selling, general and administrative, and research and development in the consolidated statements of income. For commitments for purchases of intangible assets, see note 28. |
Trade Payables
Trade Payables | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Trade Payables | (14) Trade Payables Trade payables are classified as financial liabilities measured at amortized cost. Trade payables as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Trade accounts and notes payable ¥ 1,047,623 ¥ 1,181,893 Other 188,610 244,440 Total ¥ 1,236,233 ¥ 1,426,333 |
Financing Liabilities
Financing Liabilities | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Financing Liabilities | (15) Financing Liabilities Financing liabilities are classified as financial liabilities measured at amortized cost. Financing liabilities presented in current liabilities as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Current: Commercial paper ¥ 421,801 ¥ 965,468 Loans 434,675 358,874 Asset-backed securities 50,067 41,433 Subtotal ¥ 906,543 ¥ 1,365,775 Reclassification from non-current ¥ 2,211,761 ¥ 1,925,420 Total ¥ 3,118,304 ¥ 3,291,195 The weighted average interest rates for financing liabilities presented in current liabilities (excluding reclassification from non-current 2022 2023 Weighted average interest rate 1.01 % 4.29 % Financing liabilities presented in non-current Yen (millions) 2022 2023 Non-current: Loans ¥ 1,026,769 ¥ 958,836 Medium-term notes 3,996,486 3,359,462 Corporate bonds 1,035,379 1,001,187 Asset-backed securities 1,137,379 979,908 Subtotal ¥ 7,196,013 ¥ 6,299,393 Reclassification to current liabilities (Current portion) ¥ (2,211,761 ) ¥ (1,925,420 ) Total ¥ 4,984,252 ¥ 4,373,973 The interest rate range and payment due date for financing liabilities presented in non-current 2022 2023 Loans Interest rate: 0.07% - 11.75% Due: 2022 - 2046 Interest rate: 0.14% - 12.90% Due: 2023 - 2046 Medium-term notes Interest rate: 0.30% - 3.63% Due: 2022 - 2031 Interest rate: 0.30% - 5.88% Due: 2023 - 2031 Corporate bonds Interest rate: 0.01% - 2.97% Due: 2022 - 2032 Interest rate: 0.01% - 2.97% Due: 2023 - 2032 Asset-backed securities Interest rate: 0.11% - 3.30% Due: 2022 - 2025 Interest rate: 0.11% - 5.50% Due: 2023 - 2028 (Pledged assets) Pledged assets for financing liabilities as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Trade receivables ¥ 15,298 ¥ 20,811 Receivables from financial services 1,101,778 944,414 Equipment on operating leases 142,097 133,936 Property, plant and equipment 2,548 2,293 Total ¥ 1,261,721 ¥ 1,101,454 Receivables from financial services and equipment on operating leases are pledged as collateral for liabilities related to asset-backed securities transactions. Other items are mainly pledged as collateral for secured bank loans. As is customary in Japan, bank loans are extended under general agreements which provide that security and guarantees for present and future indebtedness will be given upon request of the bank, and that the bank shall have the right to offset cash deposits against obligations that have become due or, in the event of default, against all obligations due to the bank. (Reconciliation of liabilities arising from financing activities) The changes in liabilities arising from financing activities for the years ended March 31, 2021, 2022 and 2023 are as follows: For the year ended March 31, 2021 Yen (millions) Balance Cash flows Cash flows Non-cash Balance Acquisitions Changes Changes Other Short-term financing liabilities ¥ 1,424,667 ¥ (179,512 ) ¥ — ¥ — ¥ 55,337 ¥ — ¥ (1,145 ) ¥ 1,299,347 Long-term financing liabilities 6,045,019 149,807 — — 222,565 — 4,247 6,421,638 Lease liabilities 330,040 (67,628 ) — 67,716 4,346 — (17,045 ) 317,429 Derivative financial liabilities (assets) * 11,615 599 (5,446 ) — (1,705 ) (38,946 ) — (33,883 ) Total ¥ 7,811,341 ¥ (96,734 ) ¥ (5,446 ) ¥ 67,716 ¥ 280,543 ¥ (38,946 ) ¥ (13,943 ) ¥ 8,004,531 For the year ended March 31, 2022 Yen (millions) Balance Cash flows Cash flows Non-cash Balance Acquisitions Changes Changes Other Short-term financing liabilities ¥ 1,299,347 ¥ (472,420 ) ¥ — ¥ — ¥ 78,863 ¥ — ¥ 753 ¥ 906,543 Long-term financing liabilities 6,421,638 238,060 — — 526,822 — 9,493 7,196,013 Lease liabilities 317,429 (80,165 ) — 84,413 6,096 — (9,015 ) 318,758 Derivative financial liabilities (assets) * (33,883 ) 3,202 (1,296 ) — 3,217 67,396 — 38,636 Total ¥ 8,004,531 ¥ (311,323 ) ¥ (1,296 ) ¥ 84,413 ¥ 614,998 ¥ 67,396 ¥ 1,231 ¥ 8,459,950 For the year ended March 31, 2023 Yen (millions) Balance Cash flows Cash flows Non-cash Balance Acquisitions Changes Changes Other Short-term financing liabilities ¥ 906,543 ¥ 442,534 ¥ — ¥ — ¥ 27,055 ¥ — ¥ (10,357 ) ¥ 1,365,775 Long-term financing liabilities 7,196,013 (1,356,965 ) — — 459,754 — 591 6,299,393 Lease liabilities 318,758 (78,297 ) — 79,202 3,675 — (7,380 ) 315,958 Derivative financial liabilities (assets) * 38,636 (54,158 ) (8,641 ) — 3,718 85,721 — 65,276 Total ¥ 8,459,950 ¥ (1,046,886 ) ¥ (8,641 ) ¥ 79,202 ¥ 494,202 ¥ 85,721 ¥ (17,146 ) ¥ 8,046,402 Explanatory note: * Derivative financial liabilities (assets) are held by the Company and its finance subsidiaries to hedge foreign currency risk for principals and interests payment of long-term financing liabilities. The cash flows related to repayments of principals are included in cash flows from financing activities, while the cash flows related to interest paid are included in cash flows from operating activities. |
Other Financial Liabilities
Other Financial Liabilities | 12 Months Ended |
Mar. 31, 2023 | |
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Other Financial Liabilities | (16) Other Financial Liabilities Other financial liabilities as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Financial liabilities measured at amortized cost ¥ 48,283 ¥ 53,920 Financial liabilities measured at fair value through profit or loss: Derivatives 151,942 242,968 Lease liabilities 318,758 315,958 Total ¥ 518,983 ¥ 612,846 Current liabilities ¥ 236,900 ¥ 324,110 Non-current 282,083 288,736 Total ¥ 518,983 ¥ 612,846 |
Provisions
Provisions | 12 Months Ended |
Mar. 31, 2023 | |
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Provisions | (17) Provisions The components of and changes in provisions for the year ended March 31, 2023 are as follows: Yen (millions) Product Other Total Balance as of April 1, 2022 ¥ 419,201 ¥ 102,812 ¥ 522,013 Provision ¥ 289,850 ¥ 27,766 ¥ 317,616 Write-offs (160,757 ) (30,887 ) (191,644 ) Reversal (33,070 ) (8,624 ) (41,694 ) Exchange differences on translating foreign operations 19,875 6,704 26,579 Balance as of March 31, 2023 ¥ 535,099 ¥ 97,771 ¥ 632,870 Current liabilities and non-current Yen (millions) 2022 2023 Current liabilities ¥ 268,388 ¥ 362,701 Non-current 253,625 270,169 Total ¥ 522,013 ¥ 632,870 Explanatory note: * Honda recognizes provisions for product warranties to cover future product warranty expenses. Honda recognizes costs for general warranties on products Honda sells and for specific warranty programs, including product recalls. Honda recognizes general estimated warranty costs at the time products are sold to customers. Honda also recognizes specific estimated warranty program costs when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. These provisions are estimated based on historical warranty claim experience with consideration given to the expected level of future warranty costs, including current sales trends, the expected number of units to be affected and the estimated average repair cost per unit for warranty claims. Provisions for product warranties are utilized for expenditures based on the demand from customers and dealers. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Mar. 31, 2023 | |
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Employee Benefits | (18) Employee Benefits (a) Post-employment Benefits Honda has various pension plans covering substantially all of its employees in Japan and certain employees in foreign countries. The Company and its Japanese subsidiaries provide plans similar to a cash balance pension plan or other defined benefit pension plans in accordance with the Defined-Benefit Corporate Pension Act of Japan. The Company and some of its subsidiaries have retirement pension benefit plans as well as lump-sum The Company’s pension plans are administered by the Honda Pension Fund (the Fund) which is legally independent of the Company. The Director of the Fund has the fiduciary duty to comply with laws, the directives by the Minister of Health, Labour and Welfare, and the Director-Generals of Regional Bureaus of Health and Welfare made pursuant to those laws, and the by-laws Certain consolidated subsidiaries in North America amended their health care benefits which are provided to retired employees to eliminate certain plans and reduce the scope of the persons eligible for the benefits, and implemented a voluntary retirement opportunity program to streamline the workforce with the future of Honda’s business for the year ended March 31, 2021. The plan amendment and the implementation of the voluntary retirement opportunity program resulted in recognition of the past service cost to profit or loss for the year ended March 31, 2021. 1) Defined benefit obligations and plan assets The changes in present value of defined benefit obligations and fair value of plan assets of the Company and certain of its consolidated subsidiaries for the years ended March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Japanese plans Foreign plans Japanese plans Foreign plans Present value of defined benefit obligations: Balance at beginning of year ¥ 1,305,054 ¥ 1,104,894 ¥ 1,262,245 ¥ 1,087,526 Current service cost 35,045 22,351 30,632 22,555 Past service cost — — — — Interest cost 8,360 29,822 9,732 40,151 Plan participants’ contributions — 3,657 — 4,165 Remeasurements: Changes in demographic 6,346 (777 ) (3,387 ) (317 ) Changes in financial assumptions (25,500 ) (85,754 ) (71,936 ) (220,863 ) Other 5,502 (3,603 ) 12,291 38,427 Benefits paid (72,562 ) (82,561 ) (63,085 ) (116,150 ) Deconsolidation — — (15,765 ) — Exchange differences on translating foreign operations — 99,497 — 70,467 Balance at end of year ¥ 1,262,245 ¥ 1,087,526 ¥ 1,160,727 ¥ 925,961 Fair value of plan assets: Balance at beginning of year ¥ 1,365,509 ¥ 910,436 ¥ 1,355,276 ¥ 1,013,050 Interest income 8,865 24,981 10,589 37,211 Actual return on plan assets, excluding 21,172 50,833 (76,690 ) (137,659 ) Employer contributions 20,484 17,404 20,409 21,178 Plan participants’ contributions — 3,657 — 4,165 Benefits paid (60,754 ) (82,561 ) (58,544 ) (116,150 ) Deconsolidation — — (14,285 ) — Exchange differences on translating foreign operations — 88,300 — 58,180 Balance at end of year ¥ 1,355,276 ¥ 1,013,050 ¥ 1,236,755 ¥ 879,975 Effects of asset ceiling — 35,321 — 62,516 Net defined benefit liabilities (assets) ¥ (93,031 ) ¥ 109,797 ¥ (76,028 ) ¥ 108,502 Retirement benefit assets included in net defined benefit liabilities (assets) as of March 31, 2022 and 2023 are ¥216,604 million and ¥180,700 million, respectively, which are presented in other non-current 2) Fair value of plan assets Honda’s investment policies for the Japanese and foreign pension plan assets are designed to maximize total medium-to-long medium-to-long The fair value of the Japanese and foreign pension plan assets by asset category as of March 31, 2022 and 2023 is as follows: As of March 31, 2022 Yen (millions) Japanese plans Foreign plans Market price in active Market price in active Quoted Unquoted Total Quoted Unquoted Total Cash and cash equivalents ¥ 56,192 ¥ — ¥ 56,192 ¥ 15,147 ¥ — ¥ 15,147 Equity securities: Japan 32,349 — 32,349 9,483 — 9,483 United States 260,424 58 260,482 72,349 — 72,349 Other 248,143 276 248,419 51,606 — 51,606 Debt securities: Japan 65,388 — 65,388 — 575 575 United States 2,795 150,494 153,289 — 81,155 81,155 Other 173,477 71,516 244,993 — 7,100 7,100 Group annuity insurance: General accounts — 40,008 40,008 — — — Separate accounts — 22,317 22,317 — — — Pooled funds: Real estate funds — 402 402 — 87,540 87,540 Private equity funds — — — — 191,196 191,196 Hedge funds — 145,474 145,474 — 34,341 34,341 Commingled and other mutual funds 1,798 129,080 130,878 4,732 425,668 430,400 Other 67 (44,982 ) (44,915 ) 61 32,097 32,158 Total ¥ 840,633 ¥ 514,643 ¥ 1,355,276 ¥ 153,378 ¥ 859,672 ¥ 1,013,050 As of March 31, 2023 Yen (millions) Japanese plans Foreign plans Market price in active Market price in active Quoted Unquoted Total Quoted Unquoted Total Cash and cash equivalents ¥ 20,230 ¥ — ¥ 20,230 ¥ 6,929 ¥ — ¥ 6,929 Equity securities: Japan 22,388 — 22,388 398 — 398 United States 195,611 — 195,611 13,794 — 13,794 Other 171,921 153 172,074 7,413 — 7,413 Debt securities: Japan 66,416 862 67,278 — 768 768 United States 35,338 136,352 171,690 — 114,757 114,757 Other 152,213 89,536 241,749 — 10,656 10,656 Group annuity insurance: General accounts — 40,942 40,942 — — — Separate accounts — 23,130 23,130 — — — Pooled funds: Real estate funds — 398 398 — 73,017 73,017 Private equity funds — — — — 162,414 162,414 Hedge funds — 117,422 117,422 — 26,061 26,061 Commingled and other mutual funds 1,419 151,752 153,171 — 454,352 454,352 Other 54 10,618 10,672 263 9,153 9,416 Total ¥ 665,590 ¥ 571,165 ¥ 1,236,755 ¥ 28,797 ¥ 851,178 ¥ 879,975 3) Actuarial assumptions The significant actuarial assumptions used to determine the present value of defined benefit obligations as of March 31, 2022 and 2023 are as follows: 2022 2023 Japanese plans Foreign plans Japanese plans Foreign plans Discount rate 0.8 % 2.8 - 4.0 % 1.2 % 4.8 - 5.1 % Rate of salary increase 1.5 % 2.0 - 3.6 % 1.6 % 2.0 - 4.4 % 4) Sensitivity analysis The effects on defined benefit obligations of 0.5% increase or decrease in the discount rate as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Japanese plans Foreign plans Japanese plans Foreign plans 0.5% decrease ¥ 93,079 increase ¥ 86,569 increase ¥ 80,821 increase ¥ 57,236 increase 0.5% increase ¥ 83,077 decrease ¥ 78,153 decrease ¥ 72,450 decrease ¥ 50,643 decrease This sensitivity analysis shows changes in defined benefit obligations as of March 31, 2022 and 2023, as a result of changes in actuarial assumptions that the Company can reasonably assume. This analysis is based on provisional calculations, and thus actual results may differ from the analysis. In addition, changes in the rate of salary increase are not expected. 5) Cash flows The amount of contributions to plan assets made by the Company and certain of its consolidated subsidiaries is determined based on various factors such as the level of salary and service years of employees, status of plan asset reserve, and actuarial calculations. In accordance with the provisions of the Defined Benefit Corporate Pension Act, the Honda Pension Fund also recalculates the amount of contributions every five years at the end of the reporting period as a base date, in an effort to ensure balanced finances in the future. The Company and certain of its consolidated subsidiaries may make contributions of a necessary amount if the amount of reserve falls below the minimum base amount. The Company and certain of its consolidated subsidiaries expect to contribute ¥20,000 million to its Japanese pension plans and ¥24,301 million to its foreign pension plans in the year ending March 31, 2024. The weighted average duration of defined benefit obligations as of March 31, 2022 and 2023 are as follows: 2022 2023 Japanese plans Foreign plans Japanese plans Foreign plans Weighted average duration of defined benefit obligations 14 years 14 years 13 years 11 years (b) Personnel Expenses Personnel expenses included in the consolidated statements of income for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) 2021 2022 2023 Personnel expenses ¥ 1,470,748 ¥ 1,502,364 ¥ 1,635,515 Personnel expenses include salaries, bonuses, social security expenses and expenses relating to post-employment benefits. |
Equity
Equity | 12 Months Ended |
Mar. 31, 2023 | |
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Equity | (19) Equity (a) Management of Capital Honda makes investments in ca Financing liabilities and equity of Honda as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Financing liabilities ¥ 8,102,556 ¥ 7,665,168 Equity 10,772,546 11,502,291 (b) Common Stock The Company’s total number of shares authorized and issued for the years ended March 31, 2021, 2022 and 2023 are as follows: Shares 2021 2022 2023 Total number of authorized shares Balance at end of year Common shares, no par value 7,086,000,000 7,086,000,000 7,086,000,000 Total number of issued shares Balance at beginning of year 1,811,428,430 1,811,428,430 1,811,428,430 Changes during the year — — — Balance at end of year 1,811,428,430 1,811,428,430 1,811,428,430 All of the issued shares as of March 31, 2021, 2022 and 2023 have been paid in full. (c) Capital Surplus and Retained Earnings Capital surplus consists of surplus that is derived from equity transactions and not recorded in common stock, and its primary component is capital reserves. The Companies Act of Japan provides that no less than 50% of the paid-in Retained earnings consist of legal reserves and accumulated earnings. The Companies Act of Japan provides that earnings in an amount equal to 10% of cash dividends from retained earnings shall be appropriated as a capital reserve or a legal reserve on the date of distribution of retained earnings until an aggregated amount of capital reserve and legal reserve equals 25% of common stock. Legal reserves may be used upon approval of the General Meeting of Shareholders. Certain foreign consolidated subsidiaries are also required to appropriate their earnings under the laws of respective countries. (d) Treasury Stock The total number of the Company’s treasury stock held by Honda as of March 31, 2021, 2022 and 2023 is as follows: Shares 2021 2022 2023 Common shares 84,773,162 100,828,074 147,087,841 Under the Companies Act of Japan, the number of shares and total value of treasury stock acquisition may be determined, upon approval of the General Meeting of Shareholders, within the amount available for distribution. Furthermore, treasury stock may be acquired through market transactions or tender offers in accordance with the articles of incorporation within the conditions set forth in the Companies Act, upon approval of the Board of Directors. (e) Other Components of Equity The changes in other components of equity for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) Remeasurements of Net changes in revaluation of Exchange differences Total Balance as of April 1, 2020 ¥ — ¥ 24,876 ¥ (139,515 ) ¥ (114,639 ) Adjustment during the year ¥ 239,801 ¥ 69,876 ¥ 247,655 ¥ 557,332 Reclassification to retained earnings (239,801 ) (6,182 ) — (245,983 ) Balance as of March 31, 2021 ¥ — ¥ 88,570 ¥ 108,140 ¥ 196,710 Adjustment during the year ¥ 117,489 ¥ 58,863 ¥ 736,578 ¥ 912,930 Reclassification to retained earnings (117,489 ) (1,713 ) — (119,202 ) Balance as of March 31, 2022 ¥ — ¥ 145,720 ¥ 844,718 ¥ 990,438 Adjustment during the year ¥ 3,304 ¥ (19,030 ) ¥ 445,739 ¥ 430,013 Reclassification to retained earnings (3,304 ) 250 — (3,054 ) Balance as of March 31, 2023 ¥ — ¥ 126,940 ¥ 1,290,457 ¥ 1,417,397 (f) Other Comprehensive Income Each component of other comprehensive income and related tax effect including non-controlling For the year ended March 31, 2021 Yen (millions) Before-tax Tax benefit Net-of-tax Items that will not be reclassified to profit or loss: Remeasurements of defined benefit plans: Amount incurred during the year ¥ 327,604 ¥ (89,342 ) ¥ 238,262 Net changes 327,604 (89,342 ) 238,262 Net changes in revaluation of financial assets measured at fair value through other comprehensive income: Amount incurred during the year 93,450 (25,847 ) 67,603 Net changes 93,450 (25,847 ) 67,603 Share of other comprehensive income of investments accounted for using the equity method: Amount incurred during the year 5,186 (276 ) 4,910 Net changes 5,186 (276 ) 4,910 Items that may be reclassified subsequently to profit or loss: Net changes in revaluation of financial assets measured at fair value through other comprehensive income: Amount incurred during the year (107 ) 1 (106 ) Reclassification to profit or loss 82 (19 ) 63 Net changes (25 ) (18 ) (43 ) Exchange differences on translating foreign operations: Amount incurred during the year 239,097 — 239,097 Reclassification to profit or loss — — — Net changes 239,097 — 239,097 Share of other comprehensive income of investments accounted for using the equity method: Amount incurred during the year 27,046 377 27,423 Reclassification to profit or loss (73 ) — (73 ) Net changes 26,973 377 27,350 Total other comprehensive income ¥ 692,285 ¥ (115,106 ) ¥ 577,179 For the year ended March 31, 2022 Yen (millions) Before-tax Tax benefit Net-of-tax Items that will not be reclassified to profit or loss: Remeasurements of defined benefit plans: Amount incurred during the year ¥ 153,785 ¥ (36,743 ) ¥ 117,042 Net changes 153,785 (36,743 ) 117,042 Net changes in revaluation of financial assets measured at fair value through other comprehensive income: Amount incurred during the year 76,909 (18,274 ) 58,635 Net changes 76,909 (18,274 ) 58,635 Share of other comprehensive income of investments accounted for using the equity method: Amount incurred during the year 1,862 (76 ) 1,786 Net changes 1,862 (76 ) 1,786 Items that may be reclassified subsequently to profit or loss: Net changes in revaluation of financial assets measured at fair value through other comprehensive income: Amount incurred during the year (915 ) 203 (712 ) Reclassification to profit or loss 39 (9 ) 30 Net changes (876 ) 194 (682 ) Exchange differences on translating foreign operations: Amount incurred during the year 680,724 — 680,724 Reclassification to profit or loss — — — Net changes 680,724 — 680,724 Share of other comprehensive income of investments accounted for using the equity method: Amount incurred during the year 79,484 (1,972 ) 77,512 Reclassification to profit or loss (65 ) — (65 ) Net changes 79,419 (1,972 ) 77,447 Total other comprehensive income ¥ 991,823 ¥ (56,871 ) ¥ 934,952 For the year ended March 31, 2023 Yen (millions) Before-tax Tax benefit Net-of-tax Items that will not be reclassified to profit or loss: Remeasurements of defined benefit plans: Amount incurred during the year ¥ 7,192 ¥ (3,842 ) ¥ 3,350 Net changes 7,192 (3,842 ) 3,350 Net changes in revaluation of financial assets measured at fair value through other comprehensive income: Amount incurred during the year (26,279 ) 7,814 (18,465 ) Net changes (26,279 ) 7,814 (18,465 ) Share of other comprehensive income of investments accounted for using the equity method: Amount incurred during the year 294 (2 ) 292 Net changes 294 (2 ) 292 Items that may be reclassified subsequently to profit or loss: Net changes in revaluation of financial assets measured at fair value through other comprehensive income: Amount incurred during the year (444 ) 98 (346 ) Reclassification to profit or loss (166 ) 38 (128 ) Net changes (610 ) 136 (474 ) Exchange differences on translating foreign operations: Amount incurred during the year 427,650 (1,612 ) 426,038 Reclassification to profit or loss (4,690 ) 1,612 (3,078 ) Net changes 422,960 — 422,960 Share of other comprehensive income of investments accounted for using the equity method: Amount incurred during the year 32,436 (1,905 ) 30,531 Reclassification to profit or loss (102 ) — (102 ) Net changes 32,334 (1,905 ) 30,429 Total other comprehensive income ¥ 435,891 ¥ 2,201 ¥ 438,092 The components of other comprehensive income included in non-controlling Yen (millions) 2021 2022 2023 Items that will not be reclassified to profit or loss: Remeasurements of defined benefit plans ¥ 1,030 ¥ 565 ¥ 341 Net changes in revaluation of financial assets measured at fair value through other comprehensive income 25 (136 ) 88 Items that may be reclassified subsequently to profit or loss: Exchange differences on translating foreign operations 18,792 21,593 7,650 Total ¥ 19,847 ¥ 22,022 ¥ 8,079 (g) Dividends from Retained Earnings The Company distributes retained earnings within the available amount calculated in accordance with the Companies Act of Japan. The amount of retained earnings available for distribution is calculated based on the amount of retained earnings recorded in the Company’s non-consolidated The amounts recognized as dividends of retained earnings for the years ended March 31, 2021, 2022 and 2023 are as follows: 1) Dividend payout For the year ended March 31, 2021 Resolution The Board of Directors Meeting on May 12, 2020 Type of shares Common shares Total amount of dividends (millions of yen) 48,363 Dividend per share (yen) 28.00 Record date March 31, 2020 Effective date June 3, 2020 Resolution The Board of Directors Meeting on August 5, 2020 Type of shares Common shares Total amount of dividends (millions of yen) 18,999 Dividend per share (yen) 11.00 Record date June 30, 2020 Effective date September 4, 2020 Resolution The Board of Directors Meeting on November 6, 2020 Type of shares Common shares Total amount of dividends (millions of yen) 32,818 Dividend per share (yen) 19.00 Record date September 30, 2020 Effective date December 2, 2020 Resolution The Board of Directors Meeting on February 9, 2021 Type of shares Common shares Total amount of dividends (millions of yen) 44,909 Dividend per share (yen) 26.00 Record date December 31, 2020 Effective date March 8, 2021 For the year ended March 31, 2022 Resolution The Board of Directors Meeting on May 14, 2021 Type of shares Common shares Total amount of dividends (millions of yen) 93,272 Dividend per share (yen) 54.00 Record date March 31, 2021 Effective date June 7, 2021 Resolution The Board of Directors Meeting on November 5, 2021 Type of shares Common shares Total amount of dividends (millions of yen) 95,130 Dividend per share (yen) 55.00 Record date September 30, 2021 Effective date December 1, 2021 For the year ended March 31, 2023 Resolution The Board of Directors Meeting on May 13, 2022 Type of shares Common shares Total amount of dividends (millions of yen) 111,256 Dividend per share (yen) 65.00 Record date March 31, 2022 Effective date June 6, 2022 Resolution The Board of Directors Meeting on November 9, 2022 Type of shares Common shares Total amount of dividends (millions of yen) 102,219 Dividend per share (yen) 60.00 Record date September 30, 2022 Effective date December 5, 2022 2) Dividends payable of which record date was in the year ended March 31, 2023, effective after the period Resolution The Board of Directors Meeting on May 11, 2023 Type of shares Common shares Resource for dividend Retained earnings Total amount of dividends (millions of yen) 99,915 Dividend per share (yen) 60.00 Record date March 31, 2023 Effective date June 6, 2023 |
Sales Revenue
Sales Revenue | 12 Months Ended |
Mar. 31, 2023 | |
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Sales Revenue | (20) Sales Revenue (a) Disaggregation of revenue As stated in Note 4, Honda discloses segment information in four categories. The sales revenue disaggregated by geographical markets based on the location of the customer and the reconciliation of the disaggregated sales revenue with each segment for the years ended March 31, 2021, 2022 and 2023 are as follows: For the year ended March 31, 2021 Yen (millions) Motorcycle Automobile Financial Power s Total Revenue arising from contracts with customers Japan ¥ 88,128 ¥ 1,321,329 ¥ 128,265 ¥ 59,249 ¥ 1,596,971 North America 197,155 4,671,998 1,049,739 133,641 6,052,533 Europe 146,948 290,326 — 63,262 500,536 Asia 1,147,539 2,032,469 1 47,465 3,227,474 Other Regions 205,142 238,509 — 17,785 461,436 Total ¥ 1,784,912 ¥ 8,554,631 ¥ 1,178,005 ¥ 321,402 ¥ 11,838,950 Revenue arising from the other sources* 2,371 12,574 1,316,289 335 1,331,569 Total ¥ 1,787,283 ¥ 8,567,205 ¥ 2,494,294 ¥ 321,737 ¥ 13,170,519 For the year ended March 31, 2022 Yen (millions) Motorcycle Automobile Financial Power s Total Revenue arising from contracts with customers Japan ¥ 105,022 ¥ 1,337,860 ¥ 146,185 ¥ 79,182 ¥ 1,668,249 North America 230,766 4,877,900 1,289,076 152,096 6,549,838 Europe 202,254 319,340 — 79,393 600,987 Asia 1,307,915 2,314,425 37 63,861 3,686,238 Other Regions 337,219 280,702 — 24,305 642,226 Total ¥ 2,183,176 ¥ 9,130,227 ¥ 1,435,298 ¥ 398,837 ¥ 13,147,538 Revenue arising from the other sources* 2,077 17,271 1,385,369 441 1,405,158 Total ¥ 2,185,253 ¥ 9,147,498 ¥ 2,820,667 ¥ 399,278 ¥ 14,552,696 For the year ended March 31, 2023 Yen (millions) Motorcycle Automobile Financial Power s Total Revenue arising from contracts with customers Japan ¥ 109,393 ¥ 1,375,593 ¥ 158,653 ¥ 89,627 ¥ 1,733,266 North America 306,725 5,985,958 1,341,863 182,126 7,816,672 Europe 250,088 332,928 — 94,328 677,344 Asia 1,739,330 2,523,613 29 55,354 4,318,326 Other Regions 502,917 360,299 — 29,464 892,680 Total ¥ 2,908,453 ¥ 10,578,391 ¥ 1,500,545 ¥ 450,899 ¥ 15,438,288 Revenue arising from the other sources* 530 15,128 1,453,553 226 1,469,437 Total ¥ 2,908,983 ¥ 10,593,519 ¥ 2,954,098 ¥ 451,125 ¥ 16,907,725 Explanatory note: * Revenue arising from the other sources primarily includes lease revenues recognized under IFRS 16 and interest recognized under IFRS 9. (b) Contract balances The receivables from contracts with customers and contract liabilities for the years ended March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Receivables from contracts with customers: Trade receivables ¥ 785,157 ¥ 893,559 Contract liabilities: Other current liabilities 261,049 292,552 Other noncurrent liabilities 193,845 240,556 The amounts of revenue recognized for the years ended March 31, 2021, 2022 and 2023 that were included in the contract liability balances at the beginning of the year are ¥182,339 million, ¥199,902 million and ¥219,873 million, respectively. The amounts of revenue recognized for the years ended March 31, 2021, 2022 and 2023 from performance obligations satisfied (or partially satisfied) in previous years were immaterial. In addition, the balances of contract assets were immaterial. (c) Transaction price allocated to the remaining performance obligation The revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Within 1 year ¥ 127,377 ¥ 150,507 Between 1 and 5 years 221,282 280,981 Later than 5 years 15,748 14,892 Total ¥ 364,407 ¥ 446,380 The table does not include the remaining performance obligations that have original expected durations of one year or less and estimated amounts of variable consideration that are constrained from being recognized as revenue. (d) Assets recognized from the costs to obtain or fulfill a contract with a customer The assets recognized from the costs to obtain a contract with a customer as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Assets recognized from the costs to obtain a contract with a customer ¥ 128,864 ¥ 148,074 Honda recognizes the incremental costs of obtaining a contract with a customer and the costs incurred in fulfilling a contract with a customer that are directly associated with the contract as an asset, if those costs are expected to be recoverable. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained. The assets recognized from the costs to obtain a contract are presented in the consolidated statement of financial position mainly as other non-current The amounts of amortization of the assets for the years ended March 31, 2021, 2022 and 2023 are ¥33,242 million, ¥39,682 million and ¥52,193 million, respectively. |
Research and Development
Research and Development | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Research and Development | (21) Research and Development Research and development costs for the years ended March 31, 2021, 2022 and 2023 consist of the following: Yen (millions) 2021 2022 2023 Research and development expenditures incurred during the reporting period ¥ 780,065 ¥ 804,025 ¥ 852,067 Amount capitalized (201,889 ) (159,174 ) (120,811 ) Amortization and impairment losses of capitalized development costs 160,718 142,205 149,659 Total ¥ 738,894 ¥ 787,056 ¥ 880,915 |
Finance Income and Finance Cost
Finance Income and Finance Costs | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Finance Income and Finance Costs | (22) Finance Income and Finance Costs Finance income and finance costs for the years ended March 31, 2021, 2022 and 2023 consist of the following: Yen (millions) 2021 2022 2023 Interest income: Financial assets measured at amortized cost ¥ 18,146 ¥ 22,847 ¥ 69,217 Financial assets measured at fair value through other comprehensive income 196 185 497 Financial assets measured at fair value through profit or loss 1,463 2,595 3,357 Total 19,805 25,627 73,071 Interest expense: Financial liabilities measured at amortized cost (12,269 ) (15,706 ) (34,065 ) Other (1,608 ) (1,161 ) (2,047 ) Total (13,877 ) (16,867 ) (36,112 ) Other, net: Dividends received: Financial assets measured at fair value through other comprehensive income 3,372 4,777 6,150 Financial assets measured at fair value through profit or loss 0 — — Gains (losses) on derivatives: Financial assets and financial liabilities measured at fair value through profit or loss 15,102 (77,789 ) (92,144 ) Gains (losses) on foreign exchange (26,163 ) 68,033 47,705 Other (17,128 ) (7,335 ) (17,319 ) Total (24,817 ) (12,314 ) (55,608 ) Total ¥ (18,889 ) ¥ (3,554 ) ¥ (18,649 ) |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Income Taxes | (23) Income Taxes (a) Income Tax Expense Profit before income taxes and income tax expense for the years ended March 31, 2021, 2022 and 2023 consist of the following: Yen (millions) 2021 2022 2023 Japan Foreign Total Japan Foreign Total Japan Foreign Total Profit (loss) before income taxes ¥ (32,954 ) ¥ 947,007 ¥ 914,053 ¥ (42,213 ) ¥ 1,112,403 ¥ 1,070,190 ¥ (40,638 ) ¥ 920,203 ¥ 879,565 Income tax expense (benefit): Current taxes 7,236 174,694 181,930 9,539 277,894 287,433 12,699 353,611 366,310 Deferred taxes (21,228 ) 57,907 36,679 (4,081 ) 26,137 22,056 (92,631 ) (111,423 ) (204,054 ) Total ¥ (13,992 ) ¥ 232,601 ¥ 218,609 ¥ 5,458 ¥ 304,031 ¥ 309,489 ¥ (79,932 ) ¥ 242,188 ¥ 162,256 The benefits of deferred taxes in Japan for the year ended March 31, 2023 , The statutory income tax rate in Japan was approximately 30.2% for each of the years in the three-year period ended March 31, 2023. The foreign subsidiaries are subject to taxes based on income at rates ranging from 16.0% to 34.0%. The Japanese statutory income tax rate for the years ended March 31, 2021, 2022 and 2023 2021 2022 2023 Statutory income tax rate 30.2 % 30.2 % 30.2 % Difference in statutory income tax rates of foreign subsidiaries (5.2 ) (4.5 ) (6.3 ) Effects of investments accounted for using the equity method (9.0 ) (5.7 ) (4.0 ) Effects of undistributed earnings and withholding taxes on royalty 7.8 7.1 11.3 Changes in unrecognized deferred tax assets 1.2 1.4 (10.3 ) Effects of income and expense not taxable and deductible for tax purpose 0.3 0.0 0.1 Effects of tax credit (1.4 ) (0.9 ) (2.9 ) Other adjustments relating to prior years (0.1 ) (0.1 ) (0.5 ) Adjustments for the uncertain tax treatments on income taxes (0.8 ) 0.9 0.6 Adjustments for the changes in income tax laws 0.1 0.1 (0.6 ) Other 0.8 0.4 0.8 Average effective tax rate 23.9 % 28.9 % 18.4 % (b) Deferred Tax Assets and Deferred Tax Liabilities The components by major factor in deferred tax assets and deferred tax liabilities as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Deferred tax assets: Inventories ¥ 44,029 ¥ 51,604 Accrued expenses 36,567 56,926 Provisions 100,408 133,007 Property, plant and equipment 27,592 27,854 Intangible assets 12,017 47,995 Retirement benefit liabilities 67,120 64,275 Carryforward of unused tax losses 67,787 108,106 Carryforward of unused tax credit 22,285 14,930 Other 103,114 109,399 Total ¥ 480,919 ¥ 614,096 Deferred tax liabilities: Property, plant and equipment ¥ 82,518 ¥ 106,715 Intangible assets 195,542 182,258 Other financial assets 61,580 59,275 Operating leases 846,978 772,991 Undistributed earnings 59,650 60,914 Retirement benefit assets 68,772 56,932 Other* 65,041 146,519 Total ¥ 1,380,081 ¥ 1,385,604 Net deferred tax assets (liabilities) ¥ (899,162 ) ¥ (771,508 ) Explanatory note: * The amount of deferred tax liabilities arising from an evaluation of receivables from financial service s the United States The changes in deferred tax assets and deferred tax liabilities recognized as income tax expense in the consolidated statements of income for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) 2021 2022 2023 Inventories ¥ (3,920 ) ¥ (9,865 ) ¥ (7,407 ) Provisions (10,708 ) (3,491 ) (27,854 ) Property, plant and equipment (6,955 ) (3,738 ) 18,708 Retirement benefit liabilities (assets) (10,353 ) (4,991 ) (4,149 ) Operating leases 37,506 (35,308 ) (153,429 ) Undistributed earnings (2,885 ) 4,198 (1,005 ) Carryforward of unused tax losses (7,695 ) (1,608 ) (42,172 ) Carryforward of unused tax credit 15,695 16,102 9,504 Other* 25,994 60,757 3,750 Total ¥ 36,679 ¥ 22,056 ¥ (204,054 ) Explanatory note: * The income tax expense recognized due to the decrease of deferred tax assets arising from accrued expenses included in other as of March 31, 2022 is ¥ million. Honda considers the probability that a portion of, or all of, the deductible temporary differences, carryforward of unused tax losses and carryforward of unused tax credit can be utilized against future taxable profits in the recognition of deferred tax assets. In assessing recoverability of deferred tax assets, management considers the scheduled reversal of deferred tax liabilities, projected future taxable profit and tax planning strategies. Based upon the level of historical taxable profit and projections for future taxable profit over the periods for which the deferred tax assets are deductible, management believes it is probable that Honda will utilize the benefits of these deferred tax assets as of March 31, 2022 and 2023. Uncertainty of estimates of future taxable profit could increase due to changes in the economic environment surrounding Honda, effects by market conditions, effects of currency fluctuations or other factors. Deferred tax assets recognized by entities that have suffered a loss in either the preceding or current period are ¥26,109 million and ¥19,414 million as of March 31, 2022 and 2023, respectively. Deductible temporary differences, carryforward of unused tax losses and carryforward of unused tax credit for which deferred tax assets are not recognized as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Deductible temporary differences ¥ 553,778 ¥ 391,536 Carryforward of unused tax losses 693,323 532,191 Carryforward of unused tax credit 549 35,629 The components by expiry of the carryforward of unused tax losses for which deferred tax assets are not recognized as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Within 1 year ¥ 3,603 ¥ 13,331 Between 1 and 5 years 73,448 82,173 Between 5 and 20 years 256,340 107,052 Indefinite periods 359,932 329,635 Total ¥ 693,323 ¥ 532,191 The components by expiry of the carryforward of unused tax credit for which deferred tax assets are not recognized as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Within 1 year ¥ 147 ¥ 5 Between 1 and 5 years 259 35,611 Between 5 and 20 years 143 13 Indefinite periods — — Total ¥ 549 ¥ 35,629 The aggregate amounts of temporary differences relating to investments in subsidiaries and interests in joint ventures for which deferred tax liabilities are not recognized as of March 31, 2022 and 2023 are ¥6,323,299 million and ¥6,956,545 million, respectively. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Earnings Per Share | (24) Earnings Per Share Earnings per share attributable to owners of the parent for the years ended March 31, 2021, 2022 and 2023 are calculated based on the following information. There were no significant dilutive potential common shares outstanding for the years ended March 31, 2021, 2022 and 2023. 2021 2022 2023 Profit for the year attributable to owners of the parent (millions of yen) ¥ 657,425 ¥ 707,067 ¥ 651,416 Weighted average number of common shares outstanding, basic (shares) 1,726,638,088 1,719,961,835 1,696,307,115 Basic earnings per share attributable to owners of the parent (yen) ¥ 380.75 ¥ 411.09 ¥ 384.02 |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Financial Risk Management | (25) Financial Risk Management (a) Risk Management Honda has manufacturing operations throughout the world and sells products and components to various countries. In the course of these activities, Honda holds trade receivables arising from business activities, receivables from financial services, trade payables and financing liabilities, and is thus exposed to market risk, credit risk and liquidity risk associated with the holding of such financial instruments. These risks are evaluated by Honda through periodic monitoring. (b) Market Risk Honda is exposed to the risk that the fair value or future cash flows of a financial instrument fluctuates because of changes in foreign currency exchange rates and interest rates. Honda uses derivatives that consist mainly of foreign currency forward exchange contracts, foreign currency option contracts, currency swap agreements and interest rate swap agreements to reduce primarily the risk that future cash flows of a financial instrument fluctuates because of changes in foreign currency exchange rates and interest rates. Derivatives are used within the scope of actual demand, in accordance with risk management policies. In addition, Honda does not hold any derivatives for trading purpose. 1) Foreign currency exchange rate risk Honda has manufacturing operations throughout the world and exports products and components to various countries. Honda purchases materials and components and sells its products and components in foreign currencies. Therefore, currency fluctuations may affect Honda’s profit and the value of the financial instruments it holds. Foreign currency forward exchange contracts and foreign currency option contracts are used to hedge currency risk of transactions denominated in foreign currencies (principally U.S. dollars). (Foreign currency exchange rate risk sensitivity analysis) Sensitivity analysis of Honda’s foreign currency exchange rate risk associated with holding financial instruments as of March 31, 2022 and 2023 is as follows. The following scenario demonstrates the impact of a 1% appreciation of the Japanese yen against the U.S. dollar on profit before income taxes, holding all variables other than the foreign currency exchange rate constant. Yen (millions) 2022 2023 Impact on profit before income taxes ¥ (1,780) ¥ (2,696) 2) Interest rate risk Honda is exposed to market risk for changes in interest rates related primarily to its debt obligations and receivables from financial services. In addition to short-term financing such as commercial paper, Honda has long-term debt with both fixed and floating rates. Honda’s receivables from financial services primarily use fixed rates. Interest rate swap agreements are mainly used to manage interest rate risk exposure of receivables from financial services and to match finance costs with finance income. Currency swap agreements used among different currencies, also serve to hedge foreign currency exchange risk as well as interest rate risk. (Interest rate risk sensitivity analysis) Sensitivity analysis of Honda’s interest rate risk associated with holding financial instruments as of March 31, 2022 and 2023 is as follows. The following scenario demonstrates the impact of a 100 basis point rise in interest rates on profit before income taxes, holding all variables other than interest rates constant. Yen (millions) 2022 2023 Impact on profit before income taxes ¥ (25,830) ¥ (2,092) 3) Equity price risk Honda is exposed to equity price risk as a result of its holdings of marketable equity securities. Marketable equity securities are held for purposes other than trading, and are mainly classified into financial assets measured at fair value through other comprehensive income. (c) Credit Risk Honda is exposed to the risk that one party to a financial instrument causes a financial loss for the other party by failing to discharge an obligation. Honda reduces the risk of financial assets other than derivatives in accordance with credit administration rules. Honda reduces the risk of derivatives by limiting the counterparties to major international banks and financial institutions that meet the internally established credit guidelines. The credit risk is mainly in receivables from financial services. Credit risk of the portfolio of consumer finance receivables can be affected by general economic conditions. Adverse changes such as a rise in unemployment can increase the likelihood of defaults. Declines in used vehicle prices can reduce the amount of recoveries on repossessed collaterals. The finance subsidiaries of the Company manage exposures to credit risk in consumer finance receivables by monitoring and adjusting underwriting standards, which affect the level of credit risk that Honda assumes, pricing contracts for expected losses, and focusing collection efforts to minimize losses. Credit risk on dealer finance receivables is affected primarily by the financial strength of the dealers within the portfolio, the value of collateral securing the financings, and economic and market factors that could affect the creditworthiness of dealers. The finance subsidiaries of the Company manage exposures to credit risk in dealer finance receivables by performing comprehensive reviews of dealers prior to establishing financing arrangements and continuously monitoring the payment performance and creditworthiness of these dealers. Honda has entered into various guarantee agreements, which mainly consist of loan commitments to dealers and guarantees of bank loans of employees for their housing costs. The finance subsidiaries of the Company maintain unused balances on committed lines to dealers based on loan commitment contracts. Although committed lines have been extended, they will not necessarily be withdrawn, as certain contracts contain terms and conditions of withdrawal that require screening of the obligor’s credit standing. There is risk that dealers fail to discharge withdrawn committed lines and cause financial loss for Honda. Regarding the bank loans of employees for their housing costs, if an employee defaults on his/her loan payments, Honda is required to perform under the guarantee. As of March 31, 2023, no amount has been accrued for any estimated losses under the obligations, as it is probable that the employees will be able to make all scheduled payments. 1) Credit risk exposure The analysis of the age of receivables from financial services that are past due as of March 31, 2022 and 2023 is as follows: Yen (millions) As of March 31, 2022 Less than 30 days 30-59 days 60-89 days 90 days and Total Consumer finance receivables: Retail ¥ 204,661 ¥ 43,051 ¥ 11,452 ¥ 7,512 ¥ 266,676 Finance lease 200 51 7 324 582 Dealer finance receivables: Wholesale 9,661 36 4 23 9,724 Total ¥ 214,522 ¥ 43,138 ¥ 11,463 ¥ 7,859 ¥ 276,982 Yen (millions) As of March 31, 2023 Less than 30 days 30-59 days 60-89 days 90 days and Total Consumer finance receivables: Retail ¥ 223,674 ¥ 55,675 ¥ 13,185 ¥ 9,481 ¥ 302,015 Finance lease 545 118 5 300 968 Dealer finance receivables: Wholesale 8,929 9 11 18 8,967 Total ¥ 233,148 ¥ 55,802 ¥ 13,201 ¥ 9,799 ¥ 311,950 The balances of retail receivables included in consumer finance receivables as of March 31, 2022 and 2023 are as follows: Yen (millions) 12-month Lifetime ECL Total As of March 31, 2022 Not credit-impaired Credit-impaired Consumer finance receivables: Retail* ¥ 4,897,471 ¥ 139,306 ¥ 17,651 ¥ 5,054,428 Yen (millions) 12-month Lifetime ECL Total As of March 31, 2023 Not credit-impaired Credit-impaired Consumer finance receivables: Retail* ¥ 4,985,289 ¥ 356,005 ¥ 21,966 ¥ 5,363,260 Explanatory note: * The tables above represent the gross amounts of retail receivables by stages of ECL model since the expected credit losses are measured collectively by our finance subsidiaries and the balances of those receivables are not directly allocated to the risk ratings. Dealerships are assigned an internal risk rating based primarily on their financial condition. At a minimum, risk ratings for dealerships are updated annually and more frequently for dealerships with weaker risk ratings. The following table shows the balances of dealer finance receivables and loan commitments classified into Group A or B based on the internal risk ratings. Group A includes the dealer finance receivables and loan commitments of dealerships with high credit quality characteristics. Group B includes the dealer finance receivables and loan commitments of remaining dealerships. The balances of dealer finance receivables and the undiscounted maximum amounts of potential payment for loan commitments by this risk rating as of March 31, 2022 and 2023 are as follows: Yen (millions) 12-month ECL Lifetime ECL Total As of March 31, 2022 Not credit-impaired Credit-impaired Dealer finance receivables: Group A ¥ 188,101 ¥ 88 ¥ 2,117 ¥ 190,306 Group B 91,995 2,133 72 94,200 Total ¥ 280,096 ¥ 2,221 ¥ 2,189 ¥ 284,506 Loan commitments: Group A ¥ 95,485 ¥ — ¥ — ¥ 95,485 Group B 23,683 — — 23,683 Total ¥ 119,168 ¥ — ¥ — ¥ 119,168 The undiscounted maximum amount of potential payment for guarantees of bank loans of employees for their housing costs as of March 31, 2022 is ¥7,098 million. Yen (millions) 12-month ECL Lifetime ECL Total As of March 31, 2023 Not credit-impaired Credit-impaired Dealer finance receivables: Group A ¥ 297,885 ¥ 706 ¥ 4,612 ¥ 303,203 Group B 116,156 1,684 123 117,963 Total ¥ 414,041 ¥ 2,390 ¥ 4,735 ¥ 421,166 Loan commitments: Group A ¥ 103,858 ¥ — ¥ — ¥ 103,858 Group B 15,364 — — 15,364 Total ¥ 119,222 ¥ — ¥ — ¥ 119,222 The undiscounted maximum amount of potential payment for guarantees of bank loans of employees for their housing costs as of March 31, 2023 is ¥5,988 million. 2) Collateral held as security The finance subsidiaries of the Company generally hold sold products as collateral for consumer finance receivables. The finance subsidiaries of the Company hold the dealerships’ other assets as collateral in addition to sold products for dealer finance receivables. The extent to which collateral mitigates credit risk is dependent on the value of collateral relative to the outstanding receivables balance at the time of repossession. The estimated fair value of collateral for credit-impaired consumer finance receivables excluding collateral values in excess of carrying amounts as of March 31, 2022 and 2023 are approximately 90% and 80%, respectively, and those for dealer finance receivables are approximately 100% and 100% of the carrying amounts, respectively. The extent to which collateral mitigates credit risk is also dependent on finance subsidiaries’ ability to take possession of the collateral. (d) Liquidity Risk Honda raises funds by commercial paper, bank loans, medium-term notes, corporate bonds and securitization of finance receivables and equipment on operating leases. Honda is exposed to the liquidity risk that Honda would not be able to repay liabilities on the due date due to the deterioration of the financing environment. Exposure to liquidity risk is managed by maintaining sufficient capital resources, a sufficient level of liquidity and a sound balance sheet. Honda meets its working capital targets primarily through cash generated by business operations, bank loans, corporate bonds and commercial paper. Honda funds financial programs for customers and dealers primarily from medium-term notes, bank loans, securitization of finance receivables and equipment on operating leases, commercial paper and corporate bonds. The unused portions of the credit facility of Honda’s commercial paper and medium-term note programs as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Commercial paper ¥ 1,190,631 ¥ 729,096 Medium-term notes 1,291,612 3,832,311 Total ¥ 2,482,243 ¥ 4,561,407 Honda is authorized to obtain financing at prevailing interest rates under these programs. Honda is aware of the possibility that various factors, such as recession-induced market contraction and financial and foreign exchange market volatility may adversely affect liquidity. For this reason, Honda has sufficient committed lines of credit that serve as alternative liquidity for the commercial paper issued regularly to replace debt. The unused portions of the committed lines of credit extended by financial institutions to Honda as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Commercial paper programs ¥ 1,226,138 ¥ 1,306,781 Other 67,976 65,299 Total ¥ 1,294,114 ¥ 1,372,080 Borrowings under those committed lines of credit generally are available at the prime interest rate. Maturity analysis of financial liabilities 1) Non-derivative Non-derivative Yen (millions) As of March 31, 2022 Carrying amount Within 1 year Between Later than Total contractual Trade payables ¥ 1,236,233 ¥ 1,236,233 ¥ — ¥ — ¥ 1,236,233 Financing liabilities 8,102,556 3,218,988 4,407,350 765,207 8,391,545 Accrued expenses 375,601 375,601 — — 375,601 Other financial liabilities 367,041 93,054 94,837 206,529 394,420 Total ¥ 10,081,431 ¥ 4,923,876 ¥ 4,502,187 ¥ 971,736 ¥ 10,397,799 Yen (millions) As of March 31, 2023 Carrying amount Within 1 year Between Later than Total contractual Trade payables ¥ 1,426,333 ¥ 1,426,333 ¥ — ¥ — ¥ 1,426,333 Financing liabilities 7,665,168 3,410,145 4,074,986 511,254 7,996,385 Accrued expenses 419,570 419,570 — — 419,570 Other financial liabilities 369,878 87,685 100,800 207,949 396,434 Total ¥ 9,880,949 ¥ 5,343,733 ¥ 4,175,786 ¥ 719,203 ¥ 10,238,722 Other financial liabilities include lease liabilities. Lease liabilities by maturity as of March 31, 2022 and 2023 are as follows: Yen (millions) As of March 31, 2022 Carrying amount Within 1 year Between Later than Total contractual Lease liabilities ¥ 318,758 ¥ 71,510 ¥ 86,305 ¥ 188,321 ¥ 346,136 Yen (millions) As of March 31, 2023 Carrying amount Within 1 year Between Later than Total contractual Lease liabilities ¥ 315,958 ¥ 69,297 ¥ 87,428 ¥ 185,790 ¥ 342,515 2) Derivative financial liabilities Derivative financial liabilities by maturity as of March 31, 2022 and 2023 are as follows: Yen (millions) As of March 31, 2022 Within 1 year Between 1 and 5 years Later than 5 years Total contractual Derivative financial liabilities ¥ 53,895 ¥ 106,214 ¥ 25,140 ¥ 185,249 Yen (millions) As of March 31, 2023 Within 1 year Between 1 and 5 years Later than 5 years Total contractual Derivative financial liabilities ¥ 109,112 ¥ 137,056 ¥ 22,787 ¥ 268,955 |
Fair Value
Fair Value | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Fair Value | (26) Fair Value (a) Definition of Fair Value Hierarchy Honda uses a three-level hierarchy when measuring fair value. The following is a description of the three hierarchy levels: Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date Level 2 Inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities, either directly or indirectly Level 3 Unobservable inputs for the assets or liabilities The level in the fair value hierarchy within which a fair value measurement in its entirety falls is based on the lowest input that is significant to the fair value measurement in its entirety. Honda recognizes the transfers between the levels of the fair value hierarchy at the end of the reporting period during which the change has occurred. (b) Method of Fair Value Measurement The fair values of assets and liabilities are determined based on relevant market information and through the use of an appropriate valuation method. The measurement methods and assumptions used in the measurement of assets and liabilities are as follows: (Cash and cash equivalents, trade receivables and trade payables) The fair values approximate their carrying amounts due to their short-term maturities. (Receivables from financial services) The fair value of receivables from financial services is measured primarily by discounting future cash flows using the current interest rates applicable for these receivables of similar remaining maturities. Fair value measurement for receivables from financial services is classified as Level 3. (Debt securities) Debt securities consist mainly of mutual funds, corporate bonds, local bonds and auction rate securities. The fair value of mutual funds with an active market is measured by using quoted market prices. Fair value measurement for mutual funds with an active market is classified as Level 1. The fair values of corporate bonds and local bonds are measured based on proprietary pricing models provided by specialists and/or market makers and the models obtain a wide array of market observable inputs such as credit ratings and discount rates. Fair value measurements for corporate bonds and local bonds are classified as Level 2. The subsidiary’s auction rate securities are A to AAA rated and are insured by qualified guarantee agencies, and reinsured by the Secretary of Education and the United States government, and guaranteed at approximately 95% by the United States government. To measure fair value of auction rate securities, Honda uses a third-party-developed valuation model which obtains a wide array of market observable inputs, as well as unobservable inputs including probability of passing or failing auction at each auction. Fair value measurement for auction rate securities is classified as Level 3. (Equity securities) The fair value of equity securities with an active market is measured by using quoted market prices. Fair value measurement for equity securities with an active market is classified as Level 1. The fair value of equity securities with no active market is measured mainly by using a discounted cash flow method, a comparable company valuation method and other appropriate valuation methods. Fair value measurement for equity securities with no active market is classified as Level 3. In addition, in the case that cost represents the best estimate of fair value, fair value for the equity securities with no active market is measured at cost. Cash flow forecasts and discount rate for the discounted cash flow model and price book-value ratio (PBR) of a comparable company for the comparable company valuation method are used as significant unobservable inputs in the fair value measurement of equity securities classified as Level 3. The fair value increases (decreases) as Cash flow forecasts increase (decrease), discount rate decline (rise) and PBR of a comparable company rise (decline). Such fair value measurements are conducted in accordance with the group accounting policy approved by the appropriate person of authority and based upon valuation methods determined by personnel in accounting divisions of Honda. (Derivatives) Derivatives consist mainly of foreign currency forward exchange contracts, foreign currency option contracts, currency swap agreements and interest rate swap agreements. The fair values of foreign currency forward exchange contracts and foreign currency option contracts are measured by using market observable inputs such as spot exchange rates, discount rates and implied volatility. The fair values of currency swap agreements and interest rate swap agreements are measured by discounting future cash flows using market observable inputs such as interest rates and foreign exchange rates. Fair value measurements for these derivatives are classified as Level 2. The credit risk of the counterparties is considered in the valuation of derivatives. (Financing liabilities) The fair value of financing liabilities is measured by discounting future cash flows using interest rates currently available for liabilities of similar terms and remaining maturities. Fair value measurement of financing liabilities is mainly classified as Level 2. (c) Assets and Liabilities Measured at Fair Value on a recurring basis Assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and 2023 consist of the following: Yen (millions) As of March 31, 2022 Level 1 Level 2 Level 3 Total Other financial assets: Financial assets measured at fair value through profit or loss: Derivatives Foreign exchange instruments ¥ — ¥ 15,674 ¥ — ¥ 15,674 Interest rate instruments — 114,016 — 114,016 Other — — 4,648 4,648 Total — 129,690 4,648 134,338 Debt securities 42,837 54,641 4,773 102,251 Financial assets measured at fair value through other comprehensive income: Debt securities — 19,984 — 19,984 Equity securities 335,745 — 133,038 468,783 Total ¥ 378,582 ¥ 204,315 ¥ 142,459 ¥ 725,356 Other financial liabilities: Financial liabilities measured at fair value through profit or loss: Derivatives Foreign exchange instruments ¥ — ¥ 66,644 ¥ — ¥ 66,644 Interest rate instruments — 83,669 — 83,669 Other — 1,629 — 1,629 Total — 151,942 — 151,942 Total ¥ — ¥ 151,942 ¥ — ¥ 151,942 There were no transfers between Level 1 and Level 2 for the year ended March 31, 2022. Yen (millions) As of March 31, 2023 Level 1 Level 2 Level 3 Total Other financial assets: Financial assets measured at fair value through profit or loss: Derivatives Foreign exchange instruments ¥ — ¥ 29,026 ¥ — ¥ 29,026 Interest rate instruments — 151,242 — 151,242 Other — — 5,700 5,700 Total — 180,268 5,700 185,968 Debt securities 43,264 53,634 5,074 101,972 Financial assets measured at fair value through other comprehensive income: Debt securities — 26,555 — 26,555 Equity securities 325,318 — 149,820 475,138 Total ¥ 368,582 ¥ 260,457 ¥ 160,594 ¥ 789,633 Other financial liabilities: Financial liabilities measured at fair value through profit or loss: Derivatives Foreign exchange instruments ¥ — ¥ 95,412 ¥ — ¥ 95,412 Interest rate instruments — 141,786 — 141,786 Other — 5,770 — 5,770 Total — 242,968 — 242,968 Total ¥ — ¥ 242,968 ¥ — ¥ 242,968 There were no transfers between Level 1 and Level 2 for the year ended March 31, 2023. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the years ended March 31, 2022 and 2023 are as follows: Yen (millions) For the year ended March 31, 2022 Derivatives Debt securities Equity securities Balance as of April 1, 2021 ¥ 4,829 ¥ 5,314 ¥ 110,050 Total gains or losses: Profit or loss (674 ) 112 — Other comprehensive income — — 17,973 Purchases — — 7,075 Sales — (1,124 ) (1,487 ) Transfer to level 1 due to listing — — (1,158 ) Exchange differences on translating foreign operations 493 471 585 Balance as of March 31, 2022 ¥ 4,648 ¥ 4,773 ¥ 133,038 Unrealized gains or losses included in profit or loss on assets held at March 31, 2022 ¥ (674 ) ¥ 112 ¥ — Yen (millions) For the year ended March 31, 2023 Derivatives Debt securities Equity securities Balance as of April 1, 2022 ¥ 4,648 ¥ 4,773 ¥ 133,038 Total gains or losses: Profit or loss 678 (136 ) — Other comprehensive income — — 9,156 Purchases — — 10,029 Sales — — (1,144 ) Transfer to level 1 due to listing — — (1,551 ) Exchange differences on translating foreign operations 374 437 292 Balance as of March 31, 2023 ¥ 5,700 ¥ 5,074 ¥ 149,820 Unrealized gains or losses included in profit or loss on assets held at March 31, 2023 ¥ 678 ¥ (136 ) ¥ — Explanatory notes: 1. Gains or losses included in profit or loss for the years ended March 31, 2022 and 2023 are included in other, net in finance income and finance costs in the consolidated statements of income. 2. Gains or losses on equity securities included in other comprehensive income for the years ended March 31, 2022 and 2023 are included in net changes in revaluation of financial assets measured at fair value through other comprehensive income under items that will not be reclassified to profit or loss in the consolidated statements of comprehensive income. (d) Financial Assets and Financial Liabilities measured at amortized cost The carrying amounts and fair values of financial assets and financial liabilities measured at amortized cost as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Carrying Fair value Carrying Fair value Receivables from financial services ¥ 5,434,496 ¥ 5,374,754 ¥ 5,894,752 ¥ 5,696,283 Debt securities 79,176 79,176 85,235 85,235 Financing liabilities 8,102,556 7,984,057 7,665,168 7,440,205 The table does not include financial assets and financial liabilities measured at amortized cost wh |
Offsetting of Financial Assets
Offsetting of Financial Assets and Financial Liabilities | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Offsetting of Financial Assets and Financial Liabilities | (27) Offsetting of Financial Assets The offsetting information regarding financial assets and financial liabilities as of March 31, 2022 and 2023 is as follows: Yen (millions) As of March 31, 2022 Gross amounts of Amounts offset Net amounts presented Amounts not offset due to not Net Amounts Other financial assets Derivatives ¥ 134,338 ¥ — ¥ 134,338 ¥ (98,419 ) ¥ 35,919 Other financial liabilities Derivatives 151,942 — 151,942 (98,419 ) 53,523 Yen (millions) As of March 31, 2023 Gross amounts of Amounts offset Net amounts presented Amounts not offset due to not Net Amounts Other financial assets Derivatives ¥ 185,968 ¥ — ¥ 185,968 ¥ (133,472 ) ¥ 52,496 Other financial liabilities Derivatives 242,968 — 242,968 (133,472 ) 109,496 Generally, the set-off |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Commitments and Contingent Liabilities | (28) Commitments and Contingent Liabilities (a) Commitments Purchase commitments Commitments for purchases of property, plant and equipment and other commitments as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Commitments for purchases of property, plant and equipment and other commitments ¥ 60,527 ¥ 107,865 (b) Claims and Lawsuits Honda is subject to potential liability under various lawsuits and claims. Honda recognizes a provision for loss contingencies when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. Honda reviews these pending lawsuits and claims periodically and adjusts the amounts recognized for these contingent liabilities, if necessary, by considering the nature of lawsuits and claims, the progress of the case and the opinions of legal counsel. With respect to product liability, personal injury claims or lawsuits, Honda believes that any judgment that may be recovered by any plaintiff for general and special damages and court costs will be adequately covered by Honda’s insurance and provision. Punitive damages are claimed in certain of these lawsuits. After consultation with legal counsel, and taking into account all known factors pertaining to existing lawsuits and claims, Honda believes that the ultimate outcome of such lawsuits and pending claims should not result in liability to Honda that would be likely to have an adverse material effect on its consolidated financial position or results of operations. Loss related to airbag inflators Honda has been conducting market-based measures in relation to airbag inflators. Honda recognizes a provision for specific warranty costs when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. There is a possibility that Honda will need to recognize additional provisions when new evidence related to the product recalls arises. However, it is not possible for Honda to reasonably estimate the amount and timing of potential future losses as of the date of this report. |
Structured Entities
Structured Entities | 12 Months Ended |
Mar. 31, 2023 | |
Investments accounted for using the equity method [abstract] | |
Structured Entities | (29) Structured Entities Honda considers whether its control over structured entities exists under IFRS 10 “Consolidated Financial Statements”. Honda consolidates structured entities over which it has control, by comprehensively determining whether its control over the entity exists based on any contractual arrangements with such entity as well as the percentage of its voting or similar rights in the entity. The finance subsidiaries of the Company periodically securitize finance receivables and operating lease assets for liquidity and funding purposes. Securitized assets are transferred to structured entities that are established with the limited purpose of issuing asset-backed securities. The finance subsidiaries of the Company are deemed to have the power to direct the activities of these structured entities that most significantly impact the entities’ economic performance as they retain servicing rights, including the management of delinquencies and defaults of the finance receivables and beneficial interests in operating lease assets. Furthermore, the finance subsidiaries of the Company are deemed to have the obligation to absorb losses and the right to receive variable returns from these structured entities that could potentially be significant to these structured entities by retaining certain subordinated interests of these structured entities. Therefore, the Company is deemed to have substantial control over these entities and consolidates them. Investors in the asset-backed securities issued by these structured entities do not have recourse to the finance subsidiaries’ general credit with the exception of representations and warranties customary in the industry provided by the finance subsidiaries. There were no significant unconsolidated structured entities as of March 31, 2022 and 2023. |
Related Parties
Related Parties | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Related Parties | (30) Related Parties (a) Related Party Transactions Honda mainly purchases materials, supplies and services from affiliates and joint ventures, and sells finished goods, parts used in its products, equipment and services to them in the ordinary course of business. Transactions with affiliates and joint ventures are generally made at values that approximate arm’s-length The balances of receivables and payables with affiliates and joint ventures as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Receivables: Affiliates ¥ 34,317 ¥ 95,429 Joint ventures 346,370 340,368 Total ¥ 380,687 ¥ 435,797 Payables: Affiliates ¥ 147,705 ¥ 207,090 Joint ventures 36,380 67,044 Total ¥ 184,085 ¥ 274,134 The amount of the transactions with affiliates and joint ventures for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) 2021 2022 2023 Sales revenue: Affiliates ¥ 87,742 ¥ 93,187 ¥ 125,318 Joint ventures 985,920 1,053,370 942,003 Total ¥ 1,073,662 ¥ 1,146,557 ¥ 1,067,321 Purchase: Affiliates ¥ 1,015,921 ¥ 1,176,066 ¥ 1,443,840 Joint ventures 150,123 194,321 238,341 Total ¥ 1,166,044 ¥ 1,370,387 ¥ 1,682,181 Unrecognized commitment The Company entered into the joint venture agreement with LG Energy Solution, Ltd. on August 29, 2022 and committed to invest US$1,730 million in L-H Battery Company, Inc., which was newly established and became our affiliate. The Company has the commitment under this agreement for the remaining investment of US$1,627 million as of March 31, 2023. (b) Compensation to Key Management Compensation paid to the directors and executive officers of the Company for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) 2021 2022 2023 Remuneration ¥ 683 ¥ 696 ¥ 679 STI (Short Term Incentive) 95 188 229 LTI (Long Term Incentive) 129 159 286 Total ¥ 907 ¥ 1,043 ¥ 1,194 (c) Major Consolidated Subsidiaries Major consolidated subsidiaries as of March 31, 2023 are as follows: Company Country of Function Percentage Honda R&D Co., Ltd. Japan Research & Development 100.0 Honda Finance Co., Ltd. Japan Finance 100.0 American Honda Motor Co., Inc. U.S.A. Coordination of Subsidiaries Operation, Research & Development, Manufacturing and Sales 100.0 American Honda Finance Corporation U.S.A. Finance 100.0 Honda Development and Manufacturing of America, LLC U.S.A. Research & Development and Manufacturing 100.0 Honda Canada Inc. Canada Manufacturing and Sales 100.0 Honda Canada Finance Inc. Canada Finance 100.0 Honda de Mexico, S.A. de C.V. Mexico Manufacturing and Sales 100.0 Honda Motor Europe Limited U.K. Coordination of Subsidiaries Operation and Sales 100.0 Honda Finance Europe plc U.K. Finance 100.0 Honda Motor (China) Investment Co., Ltd. China Coordination of Subsidiaries Operation and Sales 100.0 Honda Auto Parts Manufacturing Co., Ltd. China Manufacturing 100.0 Honda Motorcycle & Scooter India (Private) Ltd. India Manufacturing and Sales 100.0 Honda Cars India Limited India Manufacturing and Sales 100.0 P.T. Honda Prospect Motor Indonesia Manufacturing and Sales 51.0 Honda Malaysia Sdn Bhd Malaysia Manufacturing and Sales 51.0 Asian Honda Motor Co., Ltd. Thailand Coordination of Subsidiaries Operation and Sales 100.0 Honda Leasing (Thailand) Co., Ltd. Thailand Finance 100.0 Honda Automobile (Thailand) Co., Ltd. Thailand Manufacturing and Sales 89.0 Thai Honda Co., Ltd. Thailand Manufacturing and Sales 72.5 Honda Vietnam Co., Ltd. Vietnam Manufacturing and Sales 70.0 Honda South America Ltda. Brazil Coordination of Subsidiaries Operation 100.0 Moto Honda da Amazonia Ltda. Brazil Manufacturing and Sales 100.0 |
Subsequent Event
Subsequent Event | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Subsequent Event | (31) Subsequent Event Acquisition of the Company’s Own Shares The Board of Directors of the Company, at its meeting held on May 11, 2023, resolved that the Company will acquire its own shares pursuant to Article 459, Paragraph 1 of the Company Law and Article 36 of the Company’s Articles of Incorporation. (a) Reason for acquisition of own shares The Company will acquire its own shares for the purpose, among others, of improving efficiency of its capital structure and implementing a flexible capital strategy. (b) Details of the acquisition 1) Class of shares to be acquired: Shares of common stock 2) Total number of shares to be acquired: Up to 64,000,000 shares (3.8 % of total number of issued shares (excluding treasury stock)) 3) Total amount of shares to be acquired: Up to 200,000 million yen 4) Period of acquisition: Starting on May 12, 2023 and ending on March 31, 2024 5) Method of acquisition: Market purchases on the Tokyo Stock Exchange 1. Purchases through the Tokyo Stock Exchange Trading Network Off-Auction (ToSTNeT-3) 2. Market purchases based on a discretionary trading contract regarding acquisition of own shares |
Approval of Release of Consolid
Approval of Release of Consolidated Financial Statements | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Approval of Release of Consolidated Financial Statements | (32) Approval of Release of Consolidated Financial Statements The release of the consolidated financial statements was approved by Toshihiro Mibe, Director, President and Representative Executive Officer and Eiji Fujimura, Executive Officer and Chief Financial Officer on June 2 3 |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2023 | |
Statement [LineItems] | |
Basis of Consolidation | (a) Basis of Consolidation The consolidated financial statements include the accounts of the Company, its subsidiaries which are directly or indirectly controlled by the Company, and those structured entities which are controlled by Honda. All significant intercompany balances and transactions have been eliminated in consolidation. Honda controls an entity when Honda is exposed or has rights to variable returns from involvement with the entity, and has the ability to affect those returns by using its power, which is the current ability to direct the relevant activities, over the entity. To determine whether or not Honda controls an entity, status of voting rights or similar rights, contractual agreements and other specific factors are taken into consideration. Structured entities are entities designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. Honda consolidates structured entities over which it has control, by comprehensively determining whether its control over the entity exists based on any contractual arrangements with such entity as well as the percentage of its voting or similar rights in the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date when the control is obtained until the date when the control is lost. The financial statements of subsidiaries have been adjusted in order to ensure consistency with the accounting policies adopted by the Company as necessary. Changes in the Company’s ownership interests in subsidiaries that do not result in a loss of control are accounted for as equity transactions. When control over a subsidiary is lost, the investment retained after the loss of control is remeasured at fair value as of the date of the loss of control, and any gain or loss on such remeasurement and disposal of the interest sold is recognized in profit or loss. |
Investments in Affiliates and Joint Ventures (Investments Accounted for Using the Equity Method) | (b) Investments in Affiliates and Joint Ventures (Investments Accounted for Using the Equity Method) Affiliates are entities over which Honda has a significant influence over the decisions on financial and operating policies, but does not have control or joint control. Joint ventures are joint arrangements whereby the parties including Honda that have joint control have rights to the net assets of the arrangement. Joint arrangements are arrangements of which two or more parties have joint control, and joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Investments in affiliates and joint ventures are accounted for using the equity method from the date when the investees are determined to be affiliates or joint ventures until the date when they ceased to be classified as affiliates or joint ventures. Under the equity method, the investment is initially recognized at cost, and the carrying amount is subsequently increased or decreased, to recognize Honda’s share of profit or loss and other comprehensive income of the affiliate or the joint venture after the date of initial recognition. The financial statements of affiliates and joint ventures have been adjusted in order to ensure consistency with the accounting policies adopted by the Company in applying the equity method, as necessary. The use of the equity method is discontinued from the date when the investees are determined to be no longer affiliates or joint ventures. The investment retained after cessation of the equity method is remeasured at fair value, and any gain or loss on such remeasurement and disposal of the investment is recognized in profit or loss. |
Foreign Currency Translations | (c) Foreign Currency Translations 1) Foreign currency transactions Foreign currency transactions are translated into the respective functional currencies at the exchange rates prevailing when such transactions occur. All foreign currency receivables and payables are translated into the respective functional currencies at the applicable exchange rates at the end of the reporting period. Gains or losses on exchange differences arising on settlement of foreign currency receivables and payables or on their translations at the end of the reporting date are recognized in profit or loss and they are included in finance income and finance costs-other, net in the consolidated statements of income. 2) Foreign operations All assets and liabilities of foreign subsidiaries, affiliates and joint ventures (collectively “foreign operations”), which use a functional currency other than Japanese yen, are translated into Japanese yen at the exchange rates at the end of the reporting period. All revenues and expenses of foreign operations are translated into Japanese yen at the average exchange rate for the period except when a functional currency is the currency of a hyperinflationary economy. Exchange differences arising from translation are recognized in other comprehensive income and accumulated in other components of equity in the consolidated statements of financial position. When a foreign operation is disposed of, and control, significant influence or joint control over the foreign operation is lost, the cumulative amount of exchange differences relating to the foreign operation is reclassified from equity to profit or loss. |
Financial Instruments | (d) Financial Instruments A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity security of another entity. When Honda becomes a party to the contractual provision of a financial instrument, the financial instrument is recognized either as a financial asset or as a financial liability. When Honda purchases or sells a financial asset, the financial asset is recognized or derecognized at the trade date. 1) Non-derivative Honda classifies financial assets other than derivatives into “financial assets measured at amortized cost”, “financial assets measured at fair value through other comprehensive income” or “financial assets measured at fair value through profit or loss”. Honda determines the classification of financial assets upon initial recognition. Financial assets are derecognized when the contractual rights to cash flows from the financial assets expire, or when the contractual rights to receive the cash flows from the financial assets are transferred and all risks and rewards of ownership of the financial assets are substantially transferred. Financial assets measured at amortized cost A financial asset is classified into financial assets measured at amortized cost when the asset is held within a business model whose objective is to hold the asset in order to collect the contractual cash flows, and the contractual term of the financial asset gives rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets measured at amortized cost except trade receivables arising from contracts with customers are initially measured at their fair value and trade receivables arising from contracts with customers are initially measured at their transaction price. Financial assets measured at amortized cost are subsequently measured at amortized cost using the effective interest method. Financial assets measured at fair value A financial asset other than a financial asset measured at amortized cost is classified into financial assets measured at fair value. The financial assets measured at fair value are further classified into the following categories: Financial assets measured at fair value through other comprehensive income A debt security is classified into financial assets measured at fair value through other comprehensive income when the asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The debt securities are initially measured at their fair value, and subsequent changes in fair value are recognized in other comprehensive income except for impairment gain or loss and foreign exchange gain or loss. When the debt securities are derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss. Honda elects to designate investments in equity securities such as shares, held for maintaining and strengthening the trade relationship as financial assets measured at fair value through other comprehensive income. Equity securities designated as financial assets measured at fair value through other comprehensive income are initially measured at their fair value, and subsequent changes in fair value of the investment are recognized in other comprehensive income. However, dividends from the equity securities are principally recognized in profit or loss. When the equity securities are derecognized, the cumulative gain or loss previously recognized in other comprehensive income is directly reclassified to retained earnings. Financial assets measured at fair value through profit or loss Financial assets measured at fair value other than financial assets measured at fair value through other comprehensive income are classified into financial assets measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are initially measured at their fair value, and subsequent changes in fair value are recognized in profit or loss. (Cash and cash equivalents) Cash and cash equivalents consist of cash on hand, demand deposits, and short-term highly liquid investments that are readily convertible to known amounts of cash and are subject to insignificant risk of changes in value. Honda includes all highly liquid debt instruments with original maturities of three months or less in cash equivalents. 2) Non-derivative Financial liabilities other than derivatives are initially measured at their fair value, and are subsequently measured at amortized cost using the effective interest method. Financial liabilities are derecognized, when the obligations specified in the contract are discharged, canceled or expire. 3) Derivatives Honda has entered into foreign exchange and interest rate agreements to manage currency and interest rate exposures. These agreements include foreign currency forward exchange contracts, currency option contracts, currency swap agreements and interest rate swap agreements. All these derivatives are initially recognized as assets or liabilities and measured at fair value, when Honda becomes a party to the contractual provision of the derivatives. Subsequent changes in fair value of derivatives are recognized in profit or loss in the period of the changes. Honda has not held any derivatives designated as hedging instruments for the years ended March 31, 2021, 2022 and 2023. 4) Offsetting of financial assets and financial liabilities Financial assets and financial liabilities are offset and the net amount is presented in the consolidated statements of financial position, only when Honda currently has a legally enforceable right to offset the recognized amounts, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. |
Inventories | (e) Inventories Inventories are measured at the lower of cost and net realizable value. The cost of inventories includes purchase costs and conversion costs, and it is determined principally by using the first-in first-out |
Equipment on Operating Leases | (f) Equipment on Operating Leases Equipment on operating leases is measured based on the cost model and carried at its cost less accumulated depreciation and impairment losses. A vehicle subject to operating lease is initially measured at its cost. Depreciation of equipment on operating leases is calculated on the straight-line method over the lease term. The depreciable amount is the cost of the vehicle less its residual value. Our most significant finance subsidiary located in the United States determines contractual residual values of operating lease vehicles at lease inception based on expectations of used vehicle values at the end of their lease term. The finance subsidiary in the United States depreciates operating lease vehicles on a straight-line basis over the lease term to the lower of contract residual values or estimated end of term residual values. The finance subsidiary in the United States assesses its estimates for end of term residual values of lease vehicles, at minimum, on a quarterly basis. Adjustments to estimated residual values are made on a straight-line basis over the remaining term of the lease and are recognized as depreciation expense. Lease customers have the option at the end of the lease term to return the vehicle to the dealer or to buy the vehicle for the contractual residual value (or if purchased prior to lease maturity, for the outstanding contractual balance). Returned lease vehicles can be purchased by the grounding dealer for the contractual residual value (or if purchased prior to lease maturity, for the outstanding contractual balance) or a market based price. Returned lease vehicles that are not purchased by the grounding dealers are sold through online and physical auctions. Estimated end of term residual values are dependent on the percentage of leased vehicles expected to be returned by lessees and the expected market values of leased vehicles at the end of their lease terms. Factors considered in this evaluation include, among other factors, economic conditions, external market information on new and used vehicles, historical trends, and recent auction values. |
Property, Plant and Equipment | (g) Property, Plant and Equipment Property, plant and equipment is measured based on the cost model and carried at its cost less accumulated depreciation and impairment losses. Property, plant and equipment is initially measured at its cost. Subsequent expenditures on an item of property, plant and equipment acquired, are recognized in the carrying amount of the item, only when it is probable that the expenditure will generate a future economic benefit. Depreciation of property, plant and equipment, except for land that is not subject to depreciation, is calculated on the straight-line method over the estimated useful life. The depreciable amount is the cost of the asset less the respective estimated residual values. The estimated useful lives used in calculating depreciation of property, plant and equipment are mainly as follows: • Buildings and structures: 3 to 50 years • Machinery and equipment: 2 to 20 years The depreciation method, useful lives and residual values of property, plant and equipment are reviewed annually at each fiscal year end, and adjusted prospectively, if appropriate. Property, plant and equipment in the consolidated statements of financial position includes right-of-use right-of-use |
Intangible Assets | (h) Intangible Assets Intangible assets are measured based on the cost model and carried at their cost less accumulated amortization and impairment losses. (Research and development) Development expenditure for a product is capitalized only when there is a technical and commercial feasibility of completing the development, Honda has intention, ability and sufficient resources to use the outcome of the development, it is probable that the outcome will generate a future economic benefit, and the cost can be measured reliably. Capitalized development cost is measured at the sum of expenditures for development incurred between when the foregoing conditions for capitalization are initially met and when the development is completed, and includes all directly attributable costs to the development process. Capitalized development cost is amortized using the straight-line method over the expected product life cycle of the developed product ranging mainly from 2 to 6 years. Expenditures on research and other development expenditures which do not meet the foregoing conditions are expensed as incurred. (Other intangible asset) Other intangible assets are initially measured at cost and principally amortized using the straight-line method over their estimated useful lives. Other intangible assets are mainly comprised of software for internal use whose estimated useful lives range from 3 to 5 years. The amortization method and useful lives of intangible assets are reviewed annually at each fiscal year end, and adjusted prospectively, if appropriate. |
Lease | (i) Lease At inception of a contract, Honda assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. When Honda has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use and the right to direct the use of the identified asset, the contract conveys the right to control the use of the identified asset. 1) Lease as a lessee A right-of-use right-of-use non-lease non-lease non-lease The right-of-use right-of-use The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, Honda’s incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise mainly the fixed payments (including the lease payments in an optional renewal period if Honda is reasonably certain to exercise the extension option) and the penalties for termination of a lease unless Honda is reasonably certain not to terminate early. After the initial recognition, the lease liability is measured by increasing the carrying amount to reflect interest that produces a constant periodic rate of interest on the remaining balance of the lease liability and reducing the carrying amount to reflect the lease payments. The lease liability is remeasured if Honda changes its assessment of whether it will exercise an extension or termination option. When the lease liability is remeasured, the amount of the remeasurement of the lease liability is recognized as an adjustment to the right-of-use right-of-use 2) Lease as a lessor For a contract that is, or contains a lease, the lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset and the lease other than finance lease is classified as an operating lease. Honda assesses the lease classification of a sub-lease right-of-use The finance subsidiaries of the Company engage in the business of leasing vehicles as a lessor. A receivable from customer held under a finance lease is initially recognized at the amount of net investment in the lease which is the gross investment in the lease discounted at the interest rate implicit in the lease, and included in receivables from financial services in the consolidated statements of financial position. Vehicles subject to operating leases are presented as equipment on operating leases in the consolidated statements of financial position. If a contract contains lease and non-lease |
Impairment | (j) Impairment 1) Financial assets measured at amortized cost and debt securities classified into financial assets measured at fair value through other comprehensive income The allowance for impairment losses of financial assets measured at amortized cost other than trade receivables and debt securities classified into financial assets measured at fair value through other comprehensive income is measured at amounts according to the three-stage expected credit loss (ECL) model: Stage 1 12-month Stage 2 Lifetime ECL for financial assets with a significant increase in credit risk since initial recognition but that are not credit-impaired Stage 3 Lifetime ECL for credit-impaired financial assets The allowance for impairment losses of trade receivables is continuously measured at amounts equal to lifetime ECL. Lifetime ECL represents ECL that results from all possible default events over the expected life of a financial asset. 12-month Receivables from financial services – Allowance for credit losses The allowance for credit losses is management’s estimate of expected credit loss on receivables from financial services. To determine whether credit risk has increased significantly, consumer finance receivables are assessed both individually and collectively. Individual assessments are based on delinquencies. Consumer finance receivables 30 days or greater past due have historically experienced increased default rates and therefore are considered to have a significant increase in credit risk. Collective assessments are performed for groups of consumer finance receivables with shared risk characteristics such as the period of initial recognition, collateral type, original term, and credit score considering relative changes in expected default rates since initial recognition. Dealer finance receivables are assessed at the individual dealership level to determine whether credit risk has increased significantly considering payment performance and other factors such as changes in the financial condition of the dealership and compliance with debt covenants. Our definition of default on receivables from financial services varies depending on internal risk management practices of each of our finance subsidiaries. Our most significant finance subsidiary located in the United States considers delinquencies of 60 days past due to be in default. Collection efforts on consumer finance receivables are escalated after becoming 60 days past due including repossession of the underlying vehicles if it has been determined that the borrower is unable to perform on their obligations. Defaulted consumer finance receivables are considered to be credit-impaired. Dealer finance receivables are considered to be credit-impaired when there is evidence we will be unable to collect all amounts due in accordance with the original contractual terms including significant financial difficulty of the dealership, a breach of contract, such as a default or delinquency, or bankruptcy. At the finance subsidiary in the United States, the estimated uncollectible portion of consumer finance receivables are written-off written-off At the finance subsidiary in the United States, ECL of consumer finance receivables is measured for groups of financial assets with shared risk characteristics by reflecting historical results, current conditions and forward-looking factors such as unemployment rates, used vehicles prices, and consumer debt service burdens. 2) Non-financial At the end of the reporting period, the carrying amount of non-financial For investments accounted for using the equity method, the entire carrying amount of each investment in affiliates and joint ventures is tested for impairment as a single asset, when there is objective evidence that the investments accounted for using the equity method may be impaired. The recoverable amount of an individual asset or a cash-generating unit is the higher of fair value less costs to sell and value in use. Value in use is determined as the present value of future cash flows expected to be derived from an asset or a cash-generating unit. A cash-generating unit is determined as the smallest identifiable group of assets that generate cash inflows which are largely independent of cash inflows from other assets or a group of assets. When it is not possible to estimate the recoverable amount of the individual asset, the recoverable amount of the cash-generating unit to which the asset belongs is estimated. When the carrying amount of an asset or a cash-generating unit exceeds the recoverable amount, the carrying amount is reduced to the recoverable amount and an impairment loss is recognized in profit or loss. An impairment loss for a cash-generating unit is allocated to the assets on the basis of the relative carrying amount of each asset in the unit. An impairment loss recognized for an asset or a cash-generating unit in prior period is reversed, if there is any indication that the impairment loss may have decreased or may no longer exist, and when the recoverable amount of the asset exceeds the carrying amount. If this is the case, the carrying amount of the asset is increased to its recoverable amount, but the increased carrying amount does not exceed the carrying amount (net of depreciation or amortization) calculated on the basis that no impairment loss had occurred in the prior period. |
Provisions | (k) Provisions Provisions are recognized when Honda has present legal or constructive obligation as a result of past events, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. Provisions are measured based on the best estimate of expenditure required to settle the present obligation at the end of the reporting period. Where the effect of the time value of money is material, a provision is measured at the present value of the expenditures required to settle the obligation. In calculating the present value, a pre-tax |
Employee Benefits | (l) Employee Benefits 1) Short-term employee benefits For short-term employee benefits including salaries, bonuses and paid annual leave, when the employees render related services, the amounts expected to be paid in exchange for those services are recognized as expenses. 2) Post-employment benefits Honda has various post-employment benefit plans including defined benefit plans and defined contribution plans. Defined benefit plans For defined benefit plans, the present value of defined benefit obligations less the fair value of plan assets is recognized as either liability or asset in the consolidated statements of financial position. The present value of defined benefit obligations and service cost are principally determined for each plan using the projected unit credit method. The discount rate is determined by reference to market yields at the end of the reporting period on high quality corporate bonds that are consistent with the currency and estimated term of the post-employment benefit obligation. Net interest on the net defined benefit liability (asset) for the reporting period is determined by multiplying the net defined benefit liability (asset) by the discount rate. Past service cost defined as the change in the present value of the defined benefit obligation resulting from a plan amendment or curtailment is recognized in profit or loss upon occurrence of the plan amendment or curtailment. Honda recognizes the difference arising from remeasurement of present value of the defined benefit obligations and the fair value of the plan assets in other comprehensive income when it is incurred, and reclassifies it immediately to retained earnings. Defined contribution plans For defined contribution plans, when the employees render related services, the contribution payables to defined contribution plan are recognized as expenses. |
Equity | (m) Equity 1) Common share Common share issued by the Company is classified as equity, and the proceeds from issuance of common share are included in common stock and capital surplus. 2) Treasury stock Treasury stock acquired by Honda is recognized at cost and deducted from equity. When treasury stock is sold, the consideration received is recognized as equity with the difference between the carrying amount and the consideration received included in capital surplus. |
Revenue Recognition | (n) Revenue Recognition 1) Sale of products Sales of products are reported by Motorcycle business, Automobile business, Power products and other businesses. For details of the information on each business, see note 4. Honda recognizes revenue when control over products is transferred to customers. This transfer generally corresponds to the date of delivery of products to customers. Revenue is measured based on consideration specified in a contract with customer and excludes amounts collected on behalf of third parties. The total consideration in the contract is allocated to all products and services based on their stand-alone selling prices. The stand-alone selling prices are determined with reference to the selling prices of similar products or services and other reasonably available information. Honda provides dealer incentives, which generally represent discounts provided from Honda to the dealer. Honda also provides incentive programs generally in the form of below-market interest rate loans or lease programs for the retail customers to enhance dealer’s sales activities. The amount incurred for these programs is calculated based on the difference between the interest or lease rate offered to retail customers and the market-based Customers usually pay consideration for sales of products within 30 days from the transfers of control over the products to customers. In addition, product sales contracts with customers include warranty clauses to guarantee that the products comply with agreed-upon specifications and Honda recognizes provisions for product warranties to meet these guarantees. For more information on product warranties, see note 17. 2) Rendering of financial services Interest income from receivables from financial services is recognized using the effective interest method. Finance receivable origination fees and certain direct origination costs are included in the calculation of the effective interest rate, and the net fee or cost is amortized using the effective interest method over the contractual term of the finance receivables. The finance subsidiaries of the Company offer financial services that contain a lease. Interest income from receivables held under a finance lease is recognized using the effective interest method. When Honda is the manufacturer or dealer lessor, sales revenue and the corresponding cost for a portion identified as sale of products is recognized in profit or loss in accordance with the policy on revenue recognition for sale of products. Revenue from operating leases is recognized on a straight-line basis over the term of the lease. |
Income Taxes | (o) Income Taxes Income tax expenses are presented as the aggregate amount of current taxes and deferred taxes. Current taxes and deferred taxes are recognized in profit or loss, except for the tax arising from a transaction which is recognized either in other comprehensive income or directly in equity. Current taxes are measured at the amount expected to be paid to (or recovered from) the taxation authorities in respect of the taxable profit (or tax loss) for the reporting period, using the tax rates and tax laws enacted or substantively enacted at the end of the reporting period. Deferred tax assets and liabilities are recognized for future tax consequences attributable to temporary differences between the carrying amount of assets or liabilities in the consolidated statements of financial position and the tax base of the assets or liabilities and carryforward of unused tax losses and tax credits. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, unused tax losses, and unused tax credits can be utilized. Deferred tax liabilities for taxable temporary differences related to investments in subsidiaries and affiliates, and interest in joint ventures are not recognized to the extent that Honda is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future. Deferred tax assets for deductible temporary differences arising from investments in subsidiaries and affiliates, and interest in joint ventures are recognized to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which they can be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the assets are realized or the liabilities are settled, based on the tax rates and tax laws enacted or substantively enacted at the end of the reporting period. The measurement of deferred tax assets and liabilities reflects the tax consequences that would follow from the manner in which Honda expects, at the end of reporting period, to recover or settle the carrying amount of its assets and liabilities. Honda reviews the carrying amount of deferred tax assets at the end of each reporting period, and reduces the carrying amount of deferred tax assets to the extent that it is no longer probable that sufficient taxable profit will be available to allow the benefit of part or all of that deferred tax assets to be utilized. Deferred tax assets and deferred tax liabilities are offset, only when Honda has a legally enforceable right to set off current tax assets against current tax liabilities, and the same taxation authority levies income taxes either on the same taxable entity or on different taxable entity which intends either to settle current tax liabilities and assets on a net basis or to realize the assets and settle the liabilities simultaneously. Honda reflects the effect of uncertainty in the consolidated financial statements if Honda concludes it is not probable that the taxation authority will accept the tax treatment. Honda has adopted amendments to IAS 12 Co-operation top-up |
Earnings per Share | (p) Earnings per Share Basic earnings per share is calculated by dividing profit for the year attributable to owners of the parent by the weighted average number of common shares outstanding during the period. |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Summary of Segment Information | Segment information as of and for the years ended March 31, 2021, 2022 and 2023 is as follows: As of and for the year ended March 31, 2021 Yen (millions) Motorcycle Automobile Financial Power s Segment Reconciling Consolidated Sales revenue: External customers ¥ 1,787,283 ¥ 8,567,205 ¥ 2,494,294 ¥ 321,737 ¥ 13,170,519 ¥ — ¥ 13,170,519 Intersegment — 212,144 12,494 20,107 244,745 (244,745 ) — Total 1,787,283 8,779,349 2,506,788 341,844 13,415,264 (244,745 ) 13,170,519 Segment profit (loss) ¥ 224,608 ¥ 90,255 ¥ 356,980 ¥ (11,635 ) ¥ 660,208 ¥ — ¥ 660,208 Share of profit of investments accounted for using the equity method ¥ 18,164 ¥ 254,079 ¥ — ¥ 491 ¥ 272,734 ¥ — ¥ 272,734 Segment assets 1,555,057 8,643,109 10,832,645 374,169 21,404,980 516,050 21,921,030 Investments accounted for using the equity method 88,476 796,036 — 6,490 891,002 — 891,002 Depreciation and amortization 68,258 515,241 825,975 15,644 1,425,118 — 1,425,118 Capital expenditures 48,800 500,431 2,006,264 11,609 2,567,104 — 2,567,104 Impairment losses on non-financial 726 19,999 (16,319 ) 357 4,763 — 4,763 Provision (reversal) for credit and lease residual losses on receivables from financial services — — (5,038 ) — (5,038 ) — (5,038 ) As of and for the year ended March 31, 2022 Yen (millions) Motorcycle Automobile Financial Power s Segment Reconciling Consolidated Sales revenue: External customers ¥ 2,185,253 ¥ 9,147,498 ¥ 2,820,667 ¥ 399,278 ¥ 14,552,696 ¥ — ¥ 14,552,696 Intersegment — 213,095 2,656 22,480 238,231 (238,231 ) — Total 2,185,253 9,360,593 2,823,323 421,758 14,790,927 (238,231 ) 14,552,696 Segment profit (loss) ¥ 311,492 ¥ 236,207 ¥ 333,032 ¥ (9,499 ) ¥ 871,232 ¥ — ¥ 871,232 Share of profit of investments accounted for using the equity method ¥ 33,510 ¥ 168,415 ¥ — ¥ 587 ¥ 202,512 ¥ — ¥ 202,512 Segment assets 1,448,926 9,563,553 11,318,756 475,124 22,806,359 1,166,794 23,973,153 Investments accounted for using the equity method 104,535 855,309 — 7,560 967,404 — 967,404 Depreciation and amortization 65,423 510,755 883,712 17,018 1,476,908 — 1,476,908 Capital expenditures 49,203 410,169 2,028,700 15,748 2,503,820 — 2,503,820 Impairment losses on non-financial (23 ) 13,097 1,874 276 15,224 — 15,224 Provision (reversal) for credit and lease residual losses on receivables from financial services — — 9,282 — 9,282 — 9,282 As of and for the year ended March 31, 2023 Yen (millions) Motorcycle Automobile Financial Power s Segment Reconciling Consolidated Sales revenue: External customers ¥ 2,908,983 ¥ 10,593,519 ¥ 2,954,098 ¥ 451,125 ¥ 16,907,725 ¥ — ¥ 16,907,725 Intersegment — 188,198 2,046 25,307 215,551 (215,551 ) — Total 2,908,983 10,781,717 2,956,144 476,432 17,123,276 (215,551 ) 16,907,725 Segment profit (loss) ¥ 488,709 ¥ (16,629 ) ¥ 285,857 ¥ 22,832 ¥ 780,769 ¥ — ¥ 780,769 Share of profit of investments accounted for using the equity method ¥ 49,119 ¥ 66,973 ¥ — ¥ 1,353 ¥ 117,445 ¥ — ¥ 117,445 Segment assets 1,580,521 10,082,519 11,197,017 480,166 23,340,223 1,329,844 24,670,067 Investments accounted for using the equity method 110,665 795,973 — 9,308 915,946 — 915,946 Depreciation and amortization 65,746 600,617 908,942 21,571 1,596,876 — 1,596,876 Capital expenditures 59,101 613,351 1,546,683 14,386 2,233,521 — 2,233,521 Impairment losses on non-financial 4,662 24,777 5,259 91 34,789 — 34,789 Provision (reversal) for credit and lease residual losses on receivables from financial services — — 27,018 — 27,018 — 27,018 Explanatory notes: 1. Segment profit (loss) of each segment is measured in a consistent manner with consolidated operating profit, which is profit before income taxes before share of profit of investments accounted for using the equity method and finance income and finance costs. Expenses not directly associated with specific segments are allocated based on the most reasonable measures applicable. 2. Segment assets of each segment are defined as total assets including investments accounted for using the equity method, derivatives, and deferred tax assets. Segment assets are based on those directly associated with each segment and those not directly associated with specific segments are allocated based on the most reasonable measures applicable except for the corporate assets described below. 3. Intersegment sales revenues are generally made at values that approximate arm’s-length 4. Reconciling items include elimination of intersegment transactions and balances as well as unallocated corporate assets. Unallocated corporate assets, included in reconciling items as of March 31, 2021, 2022 and 2023 amounted to ¥696,327 million, ¥1,319,995 million and ¥1,462,656 million, respectively, which consist primarily of the Company’s cash and cash equivalents and financial assets measured at fair value through other comprehensive income. 5. Provisions for product warranties accrued for the years ended March 31, 2021, 2022 and 2023 are ¥272,076 million, ¥118,378 million and ¥289,850 million, respectively. These are mainly included in Automobile business. 6. The amounts of write-down of inventories recognized as an expense for the years ended March 31, 2021, 2022 and 2023 are ¥28,420 million, ¥11,295 million and ¥8,400 million respectively. These are related to Automobile business and aircraft and aircraft engines, which are included in Power product s 7. Right-of-use |
Sales Revenue by Product or Service Groups | Sales revenue by product or service groups of Honda for the years ended March 31, 2021, 2022 and 2023 is as follows: Yen (millions) 2021 2022 2023 Motorcycles and relevant parts ¥ 1,658,871 ¥ 2,066,557 ¥ 2,742,572 All-terrain side-by-sides 128,412 118,696 166,411 Automobiles and relevant parts 9,746,374 10,582,764 12,093,972 Financial services 1,315,125 1,385,401 1,453,645 Power products and relevant parts 257,237 294,577 360,385 Others 64,500 104,701 90,740 Total ¥ 13,170,519 ¥ 14,552,696 ¥ 16,907,725 |
Sales Revenue and Carrying Amounts of Non-current Assets Other Than Financial Instruments and Deferred Tax Assets Based on Location | The sales revenue and carrying amounts of non-current As of and for the year ended March 31, 2021 Yen (millions) Japan United Other Total Sales revenue ¥ 2,190,797 ¥ 6,291,857 ¥ 4,687,865 ¥ 13,170,519 Non-current ¥ 3,050,270 ¥ 4,242,405 ¥ 1,641,793 ¥ 8,934,468 As of and for the year ended March 31, 2022 Yen (millions) Japan United Other Total Sales revenue ¥ 2,354,532 ¥ 6,728,800 ¥ 5,469,364 ¥ 14,552,696 Non-current ¥ 3,036,832 ¥ 4,490,562 ¥ 1,768,697 ¥ 9,296,091 As of and for the year ended March 31, 2023 Yen (millions) Japan United Other Total Sales revenue ¥ 2,409,584 ¥ 7,905,936 ¥ 6,592,205 ¥ 16,907,725 Non-current ¥ 2,937,148 ¥ 4,373,329 ¥ 1,728,475 ¥ 9,038,952 |
Supplemental Geographical Information Based on Location | In addition to the disclosure required by IFRS, Honda provides the following supplemental information for the financial statements users: Supplemental geographical information based on the location of the Company and its subsidiaries As of and for the year ended March 31, 2021 Yen (millions) Japan North Europe Asia Other Total Reconciling Consolidated Sales revenue: External customers ¥ 2,190,797 ¥ 7,081,264 ¥ 503,549 ¥ 2,966,814 ¥ 428,095 ¥ 13,170,519 ¥ — ¥ 13,170,519 Inter-geographic areas 1,677,038 399,573 178,300 491,965 6,400 2,753,276 (2,753,276 ) — Total 3,867,835 7,480,837 681,849 3,458,779 434,495 15,923,795 (2,753,276 ) 13,170,519 Operating profit (loss) ¥ (75,935 ) ¥ 455,888 ¥ 27,460 ¥ 251,886 ¥ (5,034 ) ¥ 654,265 ¥ 5,943 ¥ 660,208 Assets ¥ 5,295,475 ¥ 12,209,455 ¥ 677,066 ¥ 3,267,417 ¥ 482,918 ¥ 21,932,331 ¥ (11,301 ) ¥ 21,921,030 Non-current ¥ 3,050,270 ¥ 5,039,085 ¥ 60,790 ¥ 666,795 ¥ 117,528 ¥ 8,934,468 ¥ — ¥ 8,934,468 As of and for the year ended March 31, 2022 Yen (millions) Japan North Europe Asia Other Total Reconciling Consolidated Sales revenue: External customers ¥ 2,354,532 ¥ 7,618,932 ¥ 602,695 ¥ 3,393,323 ¥ 583,214 ¥ 14,552,696 ¥ — ¥ 14,552,696 Inter-geographic areas 2,004,754 471,255 98,516 662,124 9,925 3,246,574 (3,246,574 ) — Total 4,359,286 8,090,187 701,211 4,055,447 593,139 17,799,270 (3,246,574 ) 14,552,696 Operating profit (loss) ¥ 6,411 ¥ 501,073 ¥ 26,681 ¥ 339,129 ¥ 22,899 ¥ 896,193 ¥ (24,961 ) ¥ 871,232 Assets ¥ 5,318,033 ¥ 12,983,779 ¥ 597,473 ¥ 3,803,877 ¥ 619,998 ¥ 23,323,160 ¥ 649,993 ¥ 23,973,153 Non-current ¥ 3,036,832 ¥ 5,334,121 ¥ 49,129 ¥ 706,562 ¥ 169,447 ¥ 9,296,091 ¥ — ¥ 9,296,091 As of and for the year ended March 31, 2023 Yen (millions) Japan North Europe Asia Other Total Reconciling Consolidated Sales revenue: External customers ¥ 2,409,584 ¥ 8,939,259 ¥ 675,728 ¥ 4,068,234 ¥ 814,920 ¥ 16,907,725 ¥ — ¥ 16,907,725 Inter-geographic areas 2,138,418 476,993 27,990 789,603 4,695 3,437,699 (3,437,699 ) — Total 4,548,002 9,416,252 703,718 4,857,837 819,615 20,345,424 (3,437,699 ) 16,907,725 Operating profit (loss) ¥ 25,821 ¥ 258,805 ¥ (2,556 ) ¥ 408,728 ¥ 58,935 ¥ 749,733 ¥ 31,036 ¥ 780,769 Assets ¥ 5,306,084 ¥ 13,467,383 ¥ 648,614 ¥ 3,771,171 ¥ 690,904 ¥ 23,884,156 ¥ 785,911 ¥ 24,670,067 Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets ¥ 2,937,148 ¥ 5,192,731 ¥ 47,869 ¥ 685,311 ¥ 175,893 ¥ 9,038,952 ¥ — ¥ 9,038,952 Explanatory notes: 1. Major countries in each geographic area: North America United States, Canada, Mexico Europe United Kingdom, Germany, Belgium, Italy, France Asia Thailand, China, India, Vietnam, Malaysia Other Regions Brazil, Australia 2. Operating profit (loss) of each geographical region is measured in a consistent manner with consolidated operating profit, which is profit before income taxes before share of profit of investments accounted for using the equity method and finance income and finance costs. 3. Assets of each geographical region are defined as total assets including investments accounted for using the equity method, derivatives, and deferred tax assets. 4. Sales revenues between geographic areas are generally made at values that approximate arm’s-length 5. Reconciling items include elimination of inter-geographic transactions and balances as well as unallocated corporate assets. Unallocated corporate assets, included in reconciling items as of March 31, 2021, 2022 and 2023 amounted to ¥696,327 million, ¥1,319,995 million and ¥1,462,656 million, respectively, which consist primarily of the Company’s cash and cash equivalents and financial assets measured at fair value through other comprehensive income. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Summary of Cash and Cash Equivalents | Cash and cash equivalents as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Cash and deposits ¥ 2,654,447 ¥ 2,822,949 Cash equivalents 1,020,484 980,065 Total ¥ 3,674,931 ¥ 3,803,014 |
Trade Receivables (Tables)
Trade Receivables (Tables) - Trade receivables [member] | 12 Months Ended |
Mar. 31, 2023 | |
Statement [LineItems] | |
Summary of Financial Assets | Trade receivables as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Trade accounts and notes receivable ¥ 793,022 ¥ 900,312 Other 112,591 168,579 Allowance for impairment losses (8,845 ) (8,620 ) Total ¥ 896,768 ¥ 1,060,271 |
Changes in Allowance for Doubtful Accounts | The changes in the allowance for impairment losses on trade receivables for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) 2021 2022 2023 Balance at beginning of year ¥ 11,302 ¥ 10,521 ¥ 8,845 Remeasurement ¥ 516 ¥ 260 ¥ 297 Write-offs (1,312 ) (2,648 ) (757 ) Exchange differences on translating foreign operations 15 712 235 Balance at end of year ¥ 10,521 ¥ 8,845 ¥ 8,620 |
Receivables from Financial Se_2
Receivables from Financial Services (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Statement [LineItems] | |
Summary of Receivables from Financial Services | Receivables from financial services as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Consumer finance receivables: Retail ¥ 5,054,428 ¥ 5,363,260 Finance lease 145,932 174,256 Dealer finance receivables: Wholesale 284,506 421,166 Subtotal ¥ 5,484,866 ¥ 5,958,682 Allowance for credit losses ¥ (39,063 ) ¥ (48,652 ) Unearned interest income and fees (11,307 ) (15,278 ) Total ¥ 5,434,496 ¥ 5,894,752 Current assets ¥ 1,694,113 ¥ 1,899,493 Non-current 3,740,383 3,995,259 Total ¥ 5,434,496 ¥ 5,894,752 |
Lease payments receivable under the finance leases by maturity | Finance lease receivables The lease payments receivable under the finance leases by maturity as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Within 1 year ¥ 25,066 ¥ 32,525 Between 1 and 2 years 25,569 33,924 Between 2 and 3 years 13,192 20,381 Between 3 and 4 years 9,335 13,497 Between 4 and 5 years 2,153 4,020 Later than 5 years 1,827 5,008 Undiscounted lease payments receivable ¥ 77,142 ¥ 109,355 Unearned finance income ¥ (4,603 ) ¥ (8,417 ) Unguaranteed residual value ¥ 62,086 ¥ 58,040 Net investment in the lease ¥ 134,625 ¥ 158,978 |
Receivables from financial services [Member] | |
Statement [LineItems] | |
Changes in Allowance for Doubtful Accounts | The changes in the allowance for credit losses on receivables from financial services for the years ended March 31, 2021, 2022 and 2023 are as follows: For the years ended March 31, 2021, 2022 and 2023 Yen (millions) 12-month ECL Lifetime ECL Total Not credit-impaired Credit-impaired Retail: Balance as of April 1, 2020 ¥ 26,655 ¥ 26,632 ¥ 6,954 ¥ 60,241 Remeasurement ¥ (3,286 ) ¥ (20,319 ) ¥ 18,827 ¥ (4,778 ) Write-offs — (20,733 ) (20,733 ) Exchange differences on translating foreign operations 111 (390 ) (165 ) (444 ) Balance as of March 31, 2021 ¥ 23,480 ¥ 5,923 ¥ 4,883 ¥ 34,286 Remeasurement ¥ (2,513 ) ¥ (925 ) ¥ 13,701 ¥ 10,263 Write-offs — — (12,256 ) (12,256 ) Exchange differences on translating foreign operations 2,822 516 1,136 4,474 Balance as of March 31, 2022 ¥ 23,789 ¥ 5,514 ¥ 7,464 ¥ 36,767 Remeasurement ¥ 868 ¥ 5,288 ¥ 20,673 ¥ 26,829 Write-offs — — (19,942 ) (19,942 ) Exchange differences on translating foreign operations 1,810 270 349 2,429 Balance as of March 31, 2023 ¥ 26,467 ¥ 11,072 ¥ 8,544 ¥ 46,083 Finance lease: Balance as of April 1, 2020 ¥ 481 ¥ 96 ¥ 113 ¥ 690 Remeasurement ¥ (65 ) ¥ 71 ¥ 136 ¥ 142 Write-offs — — (107 ) (107 ) Exchange differences on translating foreign operations 54 17 17 88 Balance as of March 31, 2021 ¥ 470 ¥ 184 ¥ 159 ¥ 813 Remeasurement ¥ (339 ) ¥ (98 ) ¥ 182 ¥ (255 ) Write-offs — — (97 ) (97 ) Exchange differences on translating foreign operations 8 6 12 26 Balance as of March 31, 2022 ¥ 139 ¥ 92 ¥ 256 ¥ 487 Remeasurement ¥ 49 ¥ (28 ) ¥ (24 ) ¥ (3 ) Write-offs — — (35 ) (35 ) Exchange differences on translating foreign operations 4 5 7 16 Balance as of March 31, 2023 ¥ 192 ¥ 69 ¥ 204 ¥ 465 Yen (millions) 12-month ECL Lifetime ECL Total Not credit-impaired Credit-impaired Wholesale: Balance as of April 1, 2020 ¥ 1,437 ¥ 318 ¥ 782 ¥ 2,537 Remeasurement ¥ 160 ¥ (270 ) ¥ (292 ) ¥ (402 ) Write-offs — — 18 18 Exchange differences on translating foreign operations 144 14 (44 ) 114 Balance as of March 31, 2021 ¥ 1,741 ¥ 62 ¥ 464 ¥ 2,267 Remeasurement ¥ (649 ) ¥ (46 ) ¥ (31 ) ¥ (726 ) Write-offs — — 30 30 Exchange differences on translating foreign operations 84 1 153 238 Balance as of March 31, 2022 ¥ 1,176 ¥ 17 ¥ 616 ¥ 1,809 Remeasurement ¥ (263 ) ¥ (8 ) ¥ 463 ¥ 192 Write-offs — — 33 33 Exchange differences on translating foreign operations 63 1 6 70 Balance as of March 31, 2023 ¥ 976 ¥ 10 ¥ 1,118 ¥ 2,104 Total: Balance as of April 1, 2020 ¥ 28,573 ¥ 27,046 ¥ 7,849 ¥ 63,468 Remeasurement ¥ (3,191 ) ¥ (20,518 ) ¥ 18,671 ¥ (5,038 ) Write-offs — — (20,822 ) (20,822 ) Exchange differences on translating foreign operations 309 (359 ) (192 ) (242 ) Balance as of March 31, 2021 ¥ 25,691 ¥ 6,169 ¥ 5,506 ¥ 37,366 Remeasurement ¥ (3,501 ) ¥ (1,069 ) ¥ 13,852 ¥ 9,282 Write-offs — — (12,323 ) (12,323 ) Exchange differences on translating foreign operations 2,914 523 1,301 4,738 Balance as of March 31, 2022 ¥ 25,104 ¥ 5,623 ¥ 8,336 ¥ 39,063 Remeasurement ¥ 654 ¥ 5,252 ¥ 21,112 ¥ 27,018 Write-offs — — (19,944 ) (19,944 ) Exchange differences on translating foreign operations 1,877 276 362 2,515 Balance as of March 31, 2023 ¥ 27,635 ¥ 11,151 ¥ 9,866 ¥ 48,652 |
Other Financial Assets (Tables)
Other Financial Assets (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Statement [LineItems] | |
Summary of Other Financial Assets | Other financial assets as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Financial assets measured at amortized cost: Receivables other than trade receivables and receivables from financial services ¥ 166,936 ¥ 164,503 Debt securities 79,176 85,235 Guaranty deposits 11,499 12,689 Restricted cash 53,290 65,723 Other 4,352 4,167 Allowance for impairment losses (3,212 ) (2,988 ) Financial assets measured at fair value through other comprehensive income: Debt securities 19,984 26,555 Equity securities 468,783 475,138 Financial assets measured at fair value through profit or loss: Derivatives 134,338 185,968 Debt securities 102,251 101,972 Total ¥ 1,037,397 ¥ 1,118,962 Current assets ¥ 217,743 ¥ 263,892 Non-current 819,654 855,070 Total ¥ 1,037,397 ¥ 1,118,962 |
Major Securities Included in Equity Securities Designated as Financial Assets Measured at Fair Value Through Other Comprehensive Income | Major securities included in the equity securities designated as financial assets measured at fair value through other comprehensive income as of March 31, 2022 and 2023 are as follows: As of March 31, 2022 Yen (millions) Fair value Contemporary Amperex Technology Co., Ltd. ¥ 226,938 GM Cruise Holdings LLC 105,916 Stanley Electric Co., Ltd. 21,463 Mitsubishi UFJ Financial Group, Inc. 11,026 SES AI Corporation 8,307 Tokio Marine Holdings, Inc. 7,789 As of March 31, 2023 Yen (millions) Fair value Contemporary Amperex Technology Co., Ltd. ¥ 181,366 GM Cruise Holdings LLC 115,556 Stanley Electric Co., Ltd. 49,051 Mitsubishi UFJ Financial Group, Inc. 12,296 Tokio Marine Holdings, Inc. 8,349 Chubb Limited 7,998 |
Other financial assets [member] | |
Statement [LineItems] | |
Summary of Changes in Allowance for Impairment Losses | The changes in the allowance for impairment losses on other financial assets for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) 2021 2022 2023 Balance at beginning of year ¥ 3,364 ¥ 3,358 ¥ 3,212 Remeasurement ¥ 792 ¥ 42 ¥ 232 Write-offs (805 ) (191 ) (461 ) Exchange differences on translating foreign operations 7 3 5 Balance at end of year ¥ 3,358 ¥ 3,212 ¥ 2,988 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Summary of Inventories | Inventories as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Finished goods ¥ 907,872 ¥ 1,154,926 Work in process 90,871 95,041 Raw materials 919,805 917,217 Total ¥ 1,918,548 ¥ 2,167,184 |
Investments Accounted for Usi_2
Investments Accounted for Using the Equity Method (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Equity in Affiliates and Joint Ventures | Honda’s equity in affiliates and joint ventures as of March 31, 2022 and 2023 is as follows: Yen (millions) 2022 2023 Investments accounted for using the equity method: Affiliates ¥ 544,563 ¥ 499,942 Joint ventures 422,841 416,004 Total ¥ 967,404 ¥ 915,946 Honda’s equity of undistributed earnings: Affiliates ¥ 177,231 ¥ 87,284 Joint ventures 279,288 259,675 Total ¥ 456,519 ¥ 346,959 |
Share of Comprehensive Income of Affiliates and Joint Ventures | Honda’s share of comprehensive income of affiliates and joint ventures for the years ended March 31, 2021, 2022 and 2023 is as follows: Yen (millions) 2021 2022 2023 Profit for the year: Affiliates ¥ 53,511 ¥ (17,844 ) ¥ (81,504 ) Joint ventures 219,223 220,356 198,949 Total ¥ 272,734 ¥ 202,512 ¥ 117,445 Other comprehensive income: Affiliates ¥ (1,197 ) ¥ 26,673 ¥ 25,920 Joint ventures 33,457 52,560 4,801 Total ¥ 32,260 ¥ 79,233 ¥ 30,721 Comprehensive income for the year: Affiliates ¥ 52,314 ¥ 8,829 ¥ (55,584 ) Joint ventures 252,680 272,916 203,750 Total ¥ 304,994 ¥ 281,745 ¥ 148,166 |
Summarized Consolidated Financial Information | Summarized consolidated financial information of Dongfeng Honda Automobile Co., Ltd. as of March 31, 2022 and 2023 is as follows: Yen (millions) 2022 2023 Current assets ¥ 747,397 ¥ 615,524 Non-current 252,219 279,691 Total assets 999,616 895,215 Current liabilities 610,379 520,257 Non-current 34,182 31,680 Total liabilities 644,561 551,937 Total equity ¥ 355,055 ¥ 343,278 Honda’s share of total equity (50%) 177,527 171,639 Equity method adjustments (697 ) (636 ) Carrying amount of its interest in the joint venture ¥ 176,830 ¥ 171,003 Cash and cash equivalents included in current assets ¥ 301,839 ¥ 99,862 Financial liabilities (excluding trade payables and provisions) included in current liabilities 6,168 6,803 Summarized consolidated financial information of Dongfeng Honda Automobile Co., Ltd. for the years ended March 31, 2021, 2022 and 2023 is as follows: Yen (millions) 2021 2022 2023 Sales revenue ¥ 2,201,051 ¥ 1,994,534 ¥ 1,777,882 Interest income 9,412 10,653 8,441 Depreciation and amortization 23,055 25,996 28,052 Income tax expense 65,102 60,868 52,826 Profit for the year 197,217 182,989 157,914 Other comprehensive income 25,462 44,812 3,256 Comprehensive income for the year ¥ 222,679 ¥ 227,801 ¥ 161,170 Comprehensive income for the year (50%) 111,340 113,901 80,585 Equity method adjustments 53 607 67 Honda’s share of comprehensive income for the year ¥ 111,393 ¥ 114,508 ¥ 80,652 Dividend from the joint venture to Honda ¥ 102,767 ¥ 79,191 ¥ 86,506 |
Combined Financial Information of Affiliates and Joint Ventures | Combined financial information in respect of affiliates as of March 31, 2022 and 2023, and for the years ended March 31, 2021, 2022 and 2023 is as follows: Yen (millions) For the year ended March 31, 2021 Motorcycle Automobile Power Product s Total Sales revenue ¥ 122,605 ¥ 1,933,675 ¥ 6,331 ¥ 2,062,611 Profit for the year 2,552 2,593 843 5,988 Yen (millions) As of and for the year ended March 31, 2022 Motorcycle Automobile Power Product s Total Current assets ¥ 64,324 ¥ 1,542,414 ¥ 14,313 ¥ 1,621,051 Non-current 28,330 2,030,822 22,928 2,082,080 Total assets 92,654 3,573,236 37,241 3,703,131 Current liabilities 25,819 1,013,738 3,768 1,043,325 Non-current 5,003 583,308 1,065 589,376 Total liabilities 30,822 1,597,046 4,833 1,632,701 Total equity ¥ 61,832 ¥ 1,976,190 ¥ 32,408 ¥ 2,070,430 Sales revenue ¥ 173,696 ¥ 3,120,190 ¥ 7,146 ¥ 3,301,032 Profit for the year 7,233 73,169 996 81,398 Yen (millions) As of and for the year ended March 31, 2023 Motorcycle Automobile Power Product s Total Current assets ¥ 64,051 ¥ 1,746,374 ¥ 18,441 ¥ 1,828,866 Non-current 25,654 2,050,459 24,110 2,100,223 Total assets 89,705 3,796,833 42,551 3,929,089 Current liabilities 29,887 1,205,478 4,319 1,239,684 Non-current 3,109 539,040 655 542,804 Total liabilities 32,996 1,744,518 4,974 1,782,488 Total equity ¥ 56,709 ¥ 2,052,315 ¥ 37,577 ¥ 2,146,601 Sales revenue ¥ 189,332 ¥ 3,800,943 ¥ 9,187 ¥ 3,999,462 Profit for the year 10,038 (45,204 ) 1,901 (33,265 ) Combined financial information in respect of joint ventures as of March 31, 2022 and 2023, and for the years ended March 31, 2021, 2022 and 2023 is as follows: Yen (millions) For the year ended March 31, 2021 Motorcycle Automobile Power Product s Total Sales revenue ¥ 543,504 ¥ 4,839,927 ¥ 3,443 ¥ 5,386,874 Profit for the year 33,115 403,088 174 436,377 Yen (millions) As of and for the year ended March 31, 2022 Motorcycle Automobile Power Product s Total Current assets ¥ 272,962 ¥ 1,810,581 ¥ 4,771 ¥ 2,088,314 Non-current 130,271 479,707 909 610,887 Total assets 403,233 2,290,288 5,680 2,699,201 Current liabilities 227,215 1,513,623 1,704 1,742,542 Non-current 17,769 70,675 665 89,109 Total liabilities 244,984 1,584,298 2,369 1,831,651 Total equity ¥ 158,249 ¥ 705,990 ¥ 3,311 ¥ 867,550 Sales revenue ¥ 811,764 ¥ 4,612,394 ¥ 3,940 ¥ 5,428,098 Profit for the year 62,907 375,642 363 438,912 Yen (millions) As of and for the year ended March 31, 2023 Motorcycle Automobile Power Product s Total Current assets ¥ 337,603 ¥ 1,579,996 ¥ 3,677 ¥ 1,921,276 Non-current 134,567 544,319 989 679,875 Total assets 472,170 2,124,315 4,666 2,601,151 Current liabilities 275,607 1,397,048 1,791 1,674,446 Non-current 23,272 74,136 2,184 99,592 Total liabilities 298,879 1,471,184 3,975 1,774,038 Total equity ¥ 173,291 ¥ 653,131 ¥ 691 ¥ 827,113 Sales revenue ¥ 1,071,031 ¥ 4,360,348 ¥ 6,022 ¥ 5,437,401 Profit for the year 93,766 304,119 1,779 399,664 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Equipment on operating leases [member] | |
Statement [LineItems] | |
Summary of Property, Plant and Equipment | The changes in cost, accumulated depreciation and impairment losses, and the carrying amounts of equipment on operating leases for the years ended March 31, 2022 and 2023 are as follows: (Cost) Yen (millions) Balance as of April 1, 2021 ¥ 6,302,709 Additions ¥ 2,026,098 Sales or disposal (2,171,117 ) Exchange differences on translating foreign operations 509,447 Other — Balance as of March 31, 2022 ¥ 6,667,137 Additions ¥ 1,543,448 Sales or disposal (2,357,684 ) Exchange differences on translating foreign operations 414,052 Other — Balance as of March 31, 2023 ¥ 6,266,953 (Accumulated depreciation and impairment losses) Yen (millions) Balance as of April 1, 2021 ¥ (1,382,793 ) Depreciation ¥ (879,196 ) Sales or disposal 856,835 Exchange differences on translating foreign operations (100,982 ) Other (1,872 ) Balance as of March 31, 2022 ¥ (1,508,008 ) Depreciation ¥ (904,778 ) Sales or disposal 955,122 Exchange differences on translating foreign operations (77,740 ) Other (5,257 ) Balance as of March 31, 2023 ¥ (1,540,661 ) (Carrying amount) Yen (millions) Balance as of March 31, 2022 ¥ 5,159,129 Balance as of March 31, 2023 4,726,292 |
Future Minimum Lease Payments Expected to be Received under Non-cancellable Operating Leases to be Received | Future lease payments expected to be received under the operating leases by maturity as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Within 1 year ¥ 824,769 ¥ 737,110 Between 1 and 2 years 574,536 458,830 Between 2 and 3 years 240,437 220,722 Between 3 and 4 years 84,911 78,727 Between 4 and 5 years 27,796 25,641 Later than 5 years — 10,148 Total ¥ 1,752,449 ¥ 1,531,178 |
Property, plant and equipment [member] | |
Statement [LineItems] | |
Summary of Property, Plant and Equipment | The changes in cost, accumulated depreciation and impairment losses, and the carrying amounts of property, plant and equipment for the years ended March 31, 2022 and 2023 are as follows: (Cost) Yen (millions) Land Buildings and Machinery and Construction in Total Balance as of April 1, 2021 ¥ 628,724 ¥ 2,558,905 ¥ 5,687,117 ¥ 217,198 ¥ 9,091,944 Additions 8,473 26,268 102,835 229,253 366,829 Reclassification 387 28,766 199,242 (228,395 ) — Sales or disposal (4,151 ) (33,722 ) (275,348 ) — (313,221 ) Exchange differences on translating foreign operations 11,585 123,536 429,662 21,124 585,907 Other 454 (5,487 ) 4,421 (1,606 ) (2,218 ) Balance as of March 31, 2022 ¥ 645,472 ¥ 2,698,266 ¥ 6,147,929 ¥ 237,574 ¥ 9,729,241 Additions 10,366 35,335 87,630 444,732 578,063 Reclassification 4,198 47,021 476,942 (528,161 ) — Sales or disposal (9,980 ) (80,024 ) (297,580 ) — (387,584 ) Deconsolidation (3,580 ) (19,932 ) (82,733 ) (3,384 ) (109,629 ) Exchange differences on translating foreign operations 7,167 84,744 285,024 16,047 392,982 Other 275 (6,556 ) (1,572 ) (2,029 ) (9,882 ) Balance as of March 31, 2023 ¥ 653,918 ¥ 2,758,854 ¥ 6,615,640 ¥ 164,779 ¥ 10,193,191 (Accumulated depreciation and impairment losses) Yen (millions) Land Buildings and Machinery and Construction in Total Balance as of April 1, 2021 ¥ (16,609 ) ¥ (1,496,313 ) ¥ (4,555,420 ) ¥ (2,088 ) ¥ (6,070,430 ) Depreciation (7,087 ) (88,928 ) (342,254 ) — (438,269 ) Sales or disposal 1,403 22,920 251,628 — 275,951 Exchange differences on translating foreign operations (235 ) (68,557 ) (344,775 ) (19 ) (413,586 ) Other (391 ) (2,324 ) (1,889 ) 1,104 (3,500 ) Balance as of March 31, 2022 ¥ (22,919 ) ¥ (1,633,202 ) ¥ (4,992,710 ) ¥ (1,003 ) ¥ (6,649,834 ) Depreciation (6,025 ) (96,136 ) (410,340 ) — (512,501 ) Sales or disposal 6,090 72,290 274,535 — 352,915 Deconsolidation 2,580 18,743 80,882 3,384 105,589 Exchange differences on translating foreign operations (87 ) (48,748 ) (245,648 ) 126 (294,357 ) Other (2,863 ) (7,768 ) (12,857 ) (3,406 ) (26,894 ) Balance as of March 31, 2023 ¥ (23,224 ) ¥ (1,694,821 ) ¥ (5,306,138 ) ¥ (899 ) ¥ (7,025,082 ) (Carrying amount) Yen (millions) Land Buildings and Machinery and Construction in Total Balance as of March 31, 2022 ¥ 622,553 ¥ 1,065,064 ¥ 1,155,219 ¥ 236,571 ¥ 3,079,407 Balance as of March 31, 2023 630,694 1,064,033 1,309,502 163,880 3,168,109 |
Summary of carrying amounts of the right-of-use assets | The changes in the carrying amounts of the right-of-use Yen (millions) Land Buildings and Machinery and Total Balance as of April 1, 2021 ¥ 80,543 ¥ 135,303 ¥ 79,484 ¥ 295,330 Additions 8,283 18,952 61,189 88,424 Depreciation (7,087 ) (15,882 ) (45,326 ) (68,295 ) Other (102 ) (8,192 ) 535 (7,759 ) Balance as of March 31, 2022 ¥ 81,637 ¥ 130,181 ¥ 95,882 ¥ 307,700 Additions 10,386 30,294 43,474 84,154 Depreciation (6,025 ) (15,887 ) (51,193 ) (73,105 ) Other 370 (8,529 ) (2,245 ) (10,404 ) Balance as of March 31, 2023 ¥ 86,368 ¥ 136,059 ¥ 85,918 ¥ 308,345 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Changes in Cost, Accumulated Amortization and Impairment Losses, and Carrying Amounts of Intangible Assets | The changes in cost, accumulated amortization and impairment losses, and carrying amounts of intangible assets for the years ended March 31, 2022 and 2023 are as follows: (Cost) Yen (millions) Capitalized Software Other Total Balance as of April 1, 2021 ¥ 1,108,616 ¥ 429,222 ¥ 60,905 ¥ 1,598,743 Additions ¥ — ¥ 8,597 ¥ 11,235 ¥ 19,832 Internally developed 159,174 20,311 — 179,485 Sales or disposal (118,065 ) (15,760 ) (12,966 ) (146,791 ) Exchange differences on translating foreign 6,565 22,365 6,057 34,987 Other — (2,484 ) (339 ) (2,823 ) Balance as of March 31, 2022 ¥ 1,156,290 ¥ 462,251 ¥ 64,892 ¥ 1,683,433 Additions ¥ — ¥ 12,163 ¥ 35,103 ¥ 47,266 Internally developed 120,811 28,088 — 148,899 Sales or disposal (267,115 ) (5,107 ) (9,741 ) (281,963 ) Exchange differences on translating foreign 4,280 15,870 3,503 23,653 Other — 4,285 (336 ) 3,949 Balance as of March 31, 2023 ¥ 1,014,266 ¥ 517,550 ¥ 93,421 ¥ 1,625,237 (Accumulated amortization and impairment losses) Yen (millions) Capitalized Software Other Total Balance as of April 1, 2021 ¥ (437,213 ) ¥ (329,104 ) ¥ (13,663 ) ¥ (779,980 ) Amortization ¥ (129,384 ) ¥ (29,290 ) ¥ (769 ) ¥ (159,443 ) Sales or disposal 118,065 15,003 3,447 136,515 Exchange differences on translating foreign operations (1,288 ) (17,442 ) (906 ) (19,636 ) Other (12,821 ) 1,364 75 (11,382 ) Balance as of March 31, 2022 ¥ (462,641 ) ¥ (359,469 ) ¥ (11,816 ) ¥ (833,926 ) Amortization ¥ (149,659 ) ¥ (29,058 ) ¥ (880 ) ¥ (179,597 ) Sales or disposal 267,115 4,693 938 272,746 Exchange differences on translating foreign operations (719 ) (12,893 ) (758 ) (14,370 ) Other — (1,036 ) 1,846 810 Balance as of March 31, 2023 ¥ (345,904 ) ¥ (397,763 ) ¥ (10,670 ) ¥ (754,337 ) (Carrying amount) Yen (millions) Capitalized Software Other Total Balance as of March 31, 2022 ¥ 693,649 ¥ 102,782 ¥ 53,076 ¥ 849,507 Balance as of March 31, 2023 668,362 119,787 82,751 870,900 |
Trade Payables (Tables)
Trade Payables (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Summary of Trade Payables | Trade payables as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Trade accounts and notes payable ¥ 1,047,623 ¥ 1,181,893 Other 188,610 244,440 Total ¥ 1,236,233 ¥ 1,426,333 |
Financing Liabilities (Tables)
Financing Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Statement [LineItems] | |
Pledged Assets for Financing Liabilities | Pledged assets for financing liabilities as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Trade receivables ¥ 15,298 ¥ 20,811 Receivables from financial services 1,101,778 944,414 Equipment on operating leases 142,097 133,936 Property, plant and equipment 2,548 2,293 Total ¥ 1,261,721 ¥ 1,101,454 |
The Changes in Liabilities Arising from Financing Activities | The changes in liabilities arising from financing activities for the years ended March 31, 2021, 2022 and 2023 are as follows: For the year ended March 31, 2021 Yen (millions) Balance Cash flows Cash flows Non-cash Balance Acquisitions Changes Changes Other Short-term financing liabilities ¥ 1,424,667 ¥ (179,512 ) ¥ — ¥ — ¥ 55,337 ¥ — ¥ (1,145 ) ¥ 1,299,347 Long-term financing liabilities 6,045,019 149,807 — — 222,565 — 4,247 6,421,638 Lease liabilities 330,040 (67,628 ) — 67,716 4,346 — (17,045 ) 317,429 Derivative financial liabilities (assets) * 11,615 599 (5,446 ) — (1,705 ) (38,946 ) — (33,883 ) Total ¥ 7,811,341 ¥ (96,734 ) ¥ (5,446 ) ¥ 67,716 ¥ 280,543 ¥ (38,946 ) ¥ (13,943 ) ¥ 8,004,531 For the year ended March 31, 2022 Yen (millions) Balance Cash flows Cash flows Non-cash Balance Acquisitions Changes Changes Other Short-term financing liabilities ¥ 1,299,347 ¥ (472,420 ) ¥ — ¥ — ¥ 78,863 ¥ — ¥ 753 ¥ 906,543 Long-term financing liabilities 6,421,638 238,060 — — 526,822 — 9,493 7,196,013 Lease liabilities 317,429 (80,165 ) — 84,413 6,096 — (9,015 ) 318,758 Derivative financial liabilities (assets) * (33,883 ) 3,202 (1,296 ) — 3,217 67,396 — 38,636 Total ¥ 8,004,531 ¥ (311,323 ) ¥ (1,296 ) ¥ 84,413 ¥ 614,998 ¥ 67,396 ¥ 1,231 ¥ 8,459,950 For the year ended March 31, 2023 Yen (millions) Balance Cash flows Cash flows Non-cash Balance Acquisitions Changes Changes Other Short-term financing liabilities ¥ 906,543 ¥ 442,534 ¥ — ¥ — ¥ 27,055 ¥ — ¥ (10,357 ) ¥ 1,365,775 Long-term financing liabilities 7,196,013 (1,356,965 ) — — 459,754 — 591 6,299,393 Lease liabilities 318,758 (78,297 ) — 79,202 3,675 — (7,380 ) 315,958 Derivative financial liabilities (assets) * 38,636 (54,158 ) (8,641 ) — 3,718 85,721 — 65,276 Total ¥ 8,459,950 ¥ (1,046,886 ) ¥ (8,641 ) ¥ 79,202 ¥ 494,202 ¥ 85,721 ¥ (17,146 ) ¥ 8,046,402 Explanatory note: * Derivative financial liabilities (assets) are held by the Company and its finance subsidiaries to hedge foreign currency risk for principals and interests payment of long-term financing liabilities. The cash flows related to repayments of principals are included in cash flows from financing activities, while the cash flows related to interest paid are included in cash flows from operating activities. |
Current borrowings [member] | |
Statement [LineItems] | |
Summary of Financing Liabilities | Financing liabilities presented in current liabilities as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Current: Commercial paper ¥ 421,801 ¥ 965,468 Loans 434,675 358,874 Asset-backed securities 50,067 41,433 Subtotal ¥ 906,543 ¥ 1,365,775 Reclassification from non-current ¥ 2,211,761 ¥ 1,925,420 Total ¥ 3,118,304 ¥ 3,291,195 |
Interest Rates for Financing Liabilities | The weighted average interest rates for financing liabilities presented in current liabilities (excluding reclassification from non-current 2022 2023 Weighted average interest rate 1.01 % 4.29 % |
Non-current liabilities [member] | |
Statement [LineItems] | |
Summary of Financing Liabilities | Financing liabilities presented in non-current Yen (millions) 2022 2023 Non-current: Loans ¥ 1,026,769 ¥ 958,836 Medium-term notes 3,996,486 3,359,462 Corporate bonds 1,035,379 1,001,187 Asset-backed securities 1,137,379 979,908 Subtotal ¥ 7,196,013 ¥ 6,299,393 Reclassification to current liabilities (Current portion) ¥ (2,211,761 ) ¥ (1,925,420 ) Total ¥ 4,984,252 ¥ 4,373,973 |
Interest Rates for Financing Liabilities | The interest rate range and payment due date for financing liabilities presented in non-current 2022 2023 Loans Interest rate: 0.07% - 11.75% Due: 2022 - 2046 Interest rate: 0.14% - 12.90% Due: 2023 - 2046 Medium-term notes Interest rate: 0.30% - 3.63% Due: 2022 - 2031 Interest rate: 0.30% - 5.88% Due: 2023 - 2031 Corporate bonds Interest rate: 0.01% - 2.97% Due: 2022 - 2032 Interest rate: 0.01% - 2.97% Due: 2023 - 2032 Asset-backed securities Interest rate: 0.11% - 3.30% Due: 2022 - 2025 Interest rate: 0.11% - 5.50% Due: 2023 - 2028 |
Other Financial Liabilities (Ta
Other Financial Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Summary of Other Financial Liabilities | Other financial liabilities as of March 31, 2022 and 2023 consist of the following: Yen (millions) 2022 2023 Financial liabilities measured at amortized cost ¥ 48,283 ¥ 53,920 Financial liabilities measured at fair value through profit or loss: Derivatives 151,942 242,968 Lease liabilities 318,758 315,958 Total ¥ 518,983 ¥ 612,846 Current liabilities ¥ 236,900 ¥ 324,110 Non-current 282,083 288,736 Total ¥ 518,983 ¥ 612,846 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Components of and Changes in Provisions | The components of and changes in provisions for the year ended March 31, 2023 are as follows: Yen (millions) Product Other Total Balance as of April 1, 2022 ¥ 419,201 ¥ 102,812 ¥ 522,013 Provision ¥ 289,850 ¥ 27,766 ¥ 317,616 Write-offs (160,757 ) (30,887 ) (191,644 ) Reversal (33,070 ) (8,624 ) (41,694 ) Exchange differences on translating foreign operations 19,875 6,704 26,579 Balance as of March 31, 2023 ¥ 535,099 ¥ 97,771 ¥ 632,870 |
Current Liabilities and Non-current Liabilities of Provisions | Current liabilities and non-current Yen (millions) 2022 2023 Current liabilities ¥ 268,388 ¥ 362,701 Non-current 253,625 270,169 Total ¥ 522,013 ¥ 632,870 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Changes in Present Value of Defined Benefit Obligations and Fair Value of Plan Assets | The changes in present value of defined benefit obligations and fair value of plan assets of the Company and certain of its consolidated subsidiaries for the years ended March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Japanese plans Foreign plans Japanese plans Foreign plans Present value of defined benefit obligations: Balance at beginning of year ¥ 1,305,054 ¥ 1,104,894 ¥ 1,262,245 ¥ 1,087,526 Current service cost 35,045 22,351 30,632 22,555 Past service cost — — — — Interest cost 8,360 29,822 9,732 40,151 Plan participants’ contributions — 3,657 — 4,165 Remeasurements: Changes in demographic 6,346 (777 ) (3,387 ) (317 ) Changes in financial assumptions (25,500 ) (85,754 ) (71,936 ) (220,863 ) Other 5,502 (3,603 ) 12,291 38,427 Benefits paid (72,562 ) (82,561 ) (63,085 ) (116,150 ) Deconsolidation — — (15,765 ) — Exchange differences on translating foreign operations — 99,497 — 70,467 Balance at end of year ¥ 1,262,245 ¥ 1,087,526 ¥ 1,160,727 ¥ 925,961 Fair value of plan assets: Balance at beginning of year ¥ 1,365,509 ¥ 910,436 ¥ 1,355,276 ¥ 1,013,050 Interest income 8,865 24,981 10,589 37,211 Actual return on plan assets, excluding 21,172 50,833 (76,690 ) (137,659 ) Employer contributions 20,484 17,404 20,409 21,178 Plan participants’ contributions — 3,657 — 4,165 Benefits paid (60,754 ) (82,561 ) (58,544 ) (116,150 ) Deconsolidation — — (14,285 ) — Exchange differences on translating foreign operations — 88,300 — 58,180 Balance at end of year ¥ 1,355,276 ¥ 1,013,050 ¥ 1,236,755 ¥ 879,975 Effects of asset ceiling — 35,321 — 62,516 Net defined benefit liabilities (assets) ¥ (93,031 ) ¥ 109,797 ¥ (76,028 ) ¥ 108,502 |
Fair Value of Japanese and Foreign Pension Plan Assets By Asset Category | The fair value of the Japanese and foreign pension plan assets by asset category as of March 31, 2022 and 2023 is as follows: As of March 31, 2022 Yen (millions) Japanese plans Foreign plans Market price in active Market price in active Quoted Unquoted Total Quoted Unquoted Total Cash and cash equivalents ¥ 56,192 ¥ — ¥ 56,192 ¥ 15,147 ¥ — ¥ 15,147 Equity securities: Japan 32,349 — 32,349 9,483 — 9,483 United States 260,424 58 260,482 72,349 — 72,349 Other 248,143 276 248,419 51,606 — 51,606 Debt securities: Japan 65,388 — 65,388 — 575 575 United States 2,795 150,494 153,289 — 81,155 81,155 Other 173,477 71,516 244,993 — 7,100 7,100 Group annuity insurance: General accounts — 40,008 40,008 — — — Separate accounts — 22,317 22,317 — — — Pooled funds: Real estate funds — 402 402 — 87,540 87,540 Private equity funds — — — — 191,196 191,196 Hedge funds — 145,474 145,474 — 34,341 34,341 Commingled and other mutual funds 1,798 129,080 130,878 4,732 425,668 430,400 Other 67 (44,982 ) (44,915 ) 61 32,097 32,158 Total ¥ 840,633 ¥ 514,643 ¥ 1,355,276 ¥ 153,378 ¥ 859,672 ¥ 1,013,050 As of March 31, 2023 Yen (millions) Japanese plans Foreign plans Market price in active Market price in active Quoted Unquoted Total Quoted Unquoted Total Cash and cash equivalents ¥ 20,230 ¥ — ¥ 20,230 ¥ 6,929 ¥ — ¥ 6,929 Equity securities: Japan 22,388 — 22,388 398 — 398 United States 195,611 — 195,611 13,794 — 13,794 Other 171,921 153 172,074 7,413 — 7,413 Debt securities: Japan 66,416 862 67,278 — 768 768 United States 35,338 136,352 171,690 — 114,757 114,757 Other 152,213 89,536 241,749 — 10,656 10,656 Group annuity insurance: General accounts — 40,942 40,942 — — — Separate accounts — 23,130 23,130 — — — Pooled funds: Real estate funds — 398 398 — 73,017 73,017 Private equity funds — — — — 162,414 162,414 Hedge funds — 117,422 117,422 — 26,061 26,061 Commingled and other mutual funds 1,419 151,752 153,171 — 454,352 454,352 Other 54 10,618 10,672 263 9,153 9,416 Total ¥ 665,590 ¥ 571,165 ¥ 1,236,755 ¥ 28,797 ¥ 851,178 ¥ 879,975 |
Significant Actuarial Assumptions Used to Determine Present Value of Defined Benefit Obligations | The significant actuarial assumptions used to determine the present value of defined benefit obligations as of March 31, 2022 and 2023 are as follows: 2022 2023 Japanese plans Foreign plans Japanese plans Foreign plans Discount rate 0.8 % 2.8 - 4.0 % 1.2 % 4.8 - 5.1 % Rate of salary increase 1.5 % 2.0 - 3.6 % 1.6 % 2.0 - 4.4 % |
Effects on Defined Benefit Obligations Due to Increase or Decrease in Discount Rate | The effects on defined benefit obligations of 0.5% increase or decrease in the discount rate as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Japanese plans Foreign plans Japanese plans Foreign plans 0.5% decrease ¥ 93,079 increase ¥ 86,569 increase ¥ 80,821 increase ¥ 57,236 increase 0.5% increase ¥ 83,077 decrease ¥ 78,153 decrease ¥ 72,450 decrease ¥ 50,643 decrease |
Weighted Average Duration of Defined Benefit Obligations | The weighted average duration of defined benefit obligations as of March 31, 2022 and 2023 are as follows: 2022 2023 Japanese plans Foreign plans Japanese plans Foreign plans Weighted average duration of defined benefit obligations 14 years 14 years 13 years 11 years |
Personnel Expenses Included in Consolidated Statements of Income | Personnel expenses included in the consolidated statements of income for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) 2021 2022 2023 Personnel expenses ¥ 1,470,748 ¥ 1,502,364 ¥ 1,635,515 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Financial Liabilities and Equity | Financing liabilities and equity of Honda as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Financing liabilities ¥ 8,102,556 ¥ 7,665,168 Equity 10,772,546 11,502,291 |
Total Number of Shares Authorized and Issued | The Company’s total number of shares authorized and issued for the years ended March 31, 2021, 2022 and 2023 are as follows: Shares 2021 2022 2023 Total number of authorized shares Balance at end of year Common shares, no par value 7,086,000,000 7,086,000,000 7,086,000,000 Total number of issued shares Balance at beginning of year 1,811,428,430 1,811,428,430 1,811,428,430 Changes during the year — — — Balance at end of year 1,811,428,430 1,811,428,430 1,811,428,430 |
Total Number of Treasury Stock Held | The total number of the Company’s treasury stock held by Honda as of March 31, 2021, 2022 and 2023 is as follows: Shares 2021 2022 2023 Common shares 84,773,162 100,828,074 147,087,841 |
Changes in Other Components of Equity | The changes in other components of equity for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) Remeasurements of Net changes in revaluation of Exchange differences Total Balance as of April 1, 2020 ¥ — ¥ 24,876 ¥ (139,515 ) ¥ (114,639 ) Adjustment during the year ¥ 239,801 ¥ 69,876 ¥ 247,655 ¥ 557,332 Reclassification to retained earnings (239,801 ) (6,182 ) — (245,983 ) Balance as of March 31, 2021 ¥ — ¥ 88,570 ¥ 108,140 ¥ 196,710 Adjustment during the year ¥ 117,489 ¥ 58,863 ¥ 736,578 ¥ 912,930 Reclassification to retained earnings (117,489 ) (1,713 ) — (119,202 ) Balance as of March 31, 2022 ¥ — ¥ 145,720 ¥ 844,718 ¥ 990,438 Adjustment during the year ¥ 3,304 ¥ (19,030 ) ¥ 445,739 ¥ 430,013 Reclassification to retained earnings (3,304 ) 250 — (3,054 ) Balance as of March 31, 2023 ¥ — ¥ 126,940 ¥ 1,290,457 ¥ 1,417,397 |
Each Component of Other Comprehensive Income and Related Tax Effect Including Non-controlling Interests | Each component of other comprehensive income and related tax effect including non-controlling For the year ended March 31, 2021 Yen (millions) Before-tax Tax benefit Net-of-tax Items that will not be reclassified to profit or loss: Remeasurements of defined benefit plans: Amount incurred during the year ¥ 327,604 ¥ (89,342 ) ¥ 238,262 Net changes 327,604 (89,342 ) 238,262 Net changes in revaluation of financial assets measured at fair value through other comprehensive income: Amount incurred during the year 93,450 (25,847 ) 67,603 Net changes 93,450 (25,847 ) 67,603 Share of other comprehensive income of investments accounted for using the equity method: Amount incurred during the year 5,186 (276 ) 4,910 Net changes 5,186 (276 ) 4,910 Items that may be reclassified subsequently to profit or loss: Net changes in revaluation of financial assets measured at fair value through other comprehensive income: Amount incurred during the year (107 ) 1 (106 ) Reclassification to profit or loss 82 (19 ) 63 Net changes (25 ) (18 ) (43 ) Exchange differences on translating foreign operations: Amount incurred during the year 239,097 — 239,097 Reclassification to profit or loss — — — Net changes 239,097 — 239,097 Share of other comprehensive income of investments accounted for using the equity method: Amount incurred during the year 27,046 377 27,423 Reclassification to profit or loss (73 ) — (73 ) Net changes 26,973 377 27,350 Total other comprehensive income ¥ 692,285 ¥ (115,106 ) ¥ 577,179 For the year ended March 31, 2022 Yen (millions) Before-tax Tax benefit Net-of-tax Items that will not be reclassified to profit or loss: Remeasurements of defined benefit plans: Amount incurred during the year ¥ 153,785 ¥ (36,743 ) ¥ 117,042 Net changes 153,785 (36,743 ) 117,042 Net changes in revaluation of financial assets measured at fair value through other comprehensive income: Amount incurred during the year 76,909 (18,274 ) 58,635 Net changes 76,909 (18,274 ) 58,635 Share of other comprehensive income of investments accounted for using the equity method: Amount incurred during the year 1,862 (76 ) 1,786 Net changes 1,862 (76 ) 1,786 Items that may be reclassified subsequently to profit or loss: Net changes in revaluation of financial assets measured at fair value through other comprehensive income: Amount incurred during the year (915 ) 203 (712 ) Reclassification to profit or loss 39 (9 ) 30 Net changes (876 ) 194 (682 ) Exchange differences on translating foreign operations: Amount incurred during the year 680,724 — 680,724 Reclassification to profit or loss — — — Net changes 680,724 — 680,724 Share of other comprehensive income of investments accounted for using the equity method: Amount incurred during the year 79,484 (1,972 ) 77,512 Reclassification to profit or loss (65 ) — (65 ) Net changes 79,419 (1,972 ) 77,447 Total other comprehensive income ¥ 991,823 ¥ (56,871 ) ¥ 934,952 For the year ended March 31, 2023 Yen (millions) Before-tax Tax benefit Net-of-tax Items that will not be reclassified to profit or loss: Remeasurements of defined benefit plans: Amount incurred during the year ¥ 7,192 ¥ (3,842 ) ¥ 3,350 Net changes 7,192 (3,842 ) 3,350 Net changes in revaluation of financial assets measured at fair value through other comprehensive income: Amount incurred during the year (26,279 ) 7,814 (18,465 ) Net changes (26,279 ) 7,814 (18,465 ) Share of other comprehensive income of investments accounted for using the equity method: Amount incurred during the year 294 (2 ) 292 Net changes 294 (2 ) 292 Items that may be reclassified subsequently to profit or loss: Net changes in revaluation of financial assets measured at fair value through other comprehensive income: Amount incurred during the year (444 ) 98 (346 ) Reclassification to profit or loss (166 ) 38 (128 ) Net changes (610 ) 136 (474 ) Exchange differences on translating foreign operations: Amount incurred during the year 427,650 (1,612 ) 426,038 Reclassification to profit or loss (4,690 ) 1,612 (3,078 ) Net changes 422,960 — 422,960 Share of other comprehensive income of investments accounted for using the equity method: Amount incurred during the year 32,436 (1,905 ) 30,531 Reclassification to profit or loss (102 ) — (102 ) Net changes 32,334 (1,905 ) 30,429 Total other comprehensive income ¥ 435,891 ¥ 2,201 ¥ 438,092 |
Components of Other Comprehensive Income Included in Non-controlling Interests | The components of other comprehensive income included in non-controlling Yen (millions) 2021 2022 2023 Items that will not be reclassified to profit or loss: Remeasurements of defined benefit plans ¥ 1,030 ¥ 565 ¥ 341 Net changes in revaluation of financial assets measured at fair value through other comprehensive income 25 (136 ) 88 Items that may be reclassified subsequently to profit or loss: Exchange differences on translating foreign operations 18,792 21,593 7,650 Total ¥ 19,847 ¥ 22,022 ¥ 8,079 |
Dividends from Retained Earnings | The amounts recognized as dividends of retained earnings for the years ended March 31, 2021, 2022 and 2023 are as follows: 1) Dividend payout For the year ended March 31, 2021 Resolution The Board of Directors Meeting on May 12, 2020 Type of shares Common shares Total amount of dividends (millions of yen) 48,363 Dividend per share (yen) 28.00 Record date March 31, 2020 Effective date June 3, 2020 Resolution The Board of Directors Meeting on August 5, 2020 Type of shares Common shares Total amount of dividends (millions of yen) 18,999 Dividend per share (yen) 11.00 Record date June 30, 2020 Effective date September 4, 2020 Resolution The Board of Directors Meeting on November 6, 2020 Type of shares Common shares Total amount of dividends (millions of yen) 32,818 Dividend per share (yen) 19.00 Record date September 30, 2020 Effective date December 2, 2020 Resolution The Board of Directors Meeting on February 9, 2021 Type of shares Common shares Total amount of dividends (millions of yen) 44,909 Dividend per share (yen) 26.00 Record date December 31, 2020 Effective date March 8, 2021 For the year ended March 31, 2022 Resolution The Board of Directors Meeting on May 14, 2021 Type of shares Common shares Total amount of dividends (millions of yen) 93,272 Dividend per share (yen) 54.00 Record date March 31, 2021 Effective date June 7, 2021 Resolution The Board of Directors Meeting on November 5, 2021 Type of shares Common shares Total amount of dividends (millions of yen) 95,130 Dividend per share (yen) 55.00 Record date September 30, 2021 Effective date December 1, 2021 For the year ended March 31, 2023 Resolution The Board of Directors Meeting on May 13, 2022 Type of shares Common shares Total amount of dividends (millions of yen) 111,256 Dividend per share (yen) 65.00 Record date March 31, 2022 Effective date June 6, 2022 Resolution The Board of Directors Meeting on November 9, 2022 Type of shares Common shares Total amount of dividends (millions of yen) 102,219 Dividend per share (yen) 60.00 Record date September 30, 2022 Effective date December 5, 2022 2) Dividends payable of which record date was in the year ended March 31, 2023, effective after the period Resolution The Board of Directors Meeting on May 11, 2023 Type of shares Common shares Resource for dividend Retained earnings Total amount of dividends (millions of yen) 99,915 Dividend per share (yen) 60.00 Record date March 31, 2023 Effective date June 6, 2023 |
Sales Revenue (Tables)
Sales Revenue (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Summary of Reconciliation of the Disaggregated Sales Revenue with the Four Reportable Segments | The sales revenue disaggregated by geographical markets based on the location of the customer and the reconciliation of the disaggregated sales revenue with each segment for the years ended March 31, 2021, 2022 and 2023 are as follows: For the year ended March 31, 2021 Yen (millions) Motorcycle Automobile Financial Power s Total Revenue arising from contracts with customers Japan ¥ 88,128 ¥ 1,321,329 ¥ 128,265 ¥ 59,249 ¥ 1,596,971 North America 197,155 4,671,998 1,049,739 133,641 6,052,533 Europe 146,948 290,326 — 63,262 500,536 Asia 1,147,539 2,032,469 1 47,465 3,227,474 Other Regions 205,142 238,509 — 17,785 461,436 Total ¥ 1,784,912 ¥ 8,554,631 ¥ 1,178,005 ¥ 321,402 ¥ 11,838,950 Revenue arising from the other sources* 2,371 12,574 1,316,289 335 1,331,569 Total ¥ 1,787,283 ¥ 8,567,205 ¥ 2,494,294 ¥ 321,737 ¥ 13,170,519 For the year ended March 31, 2022 Yen (millions) Motorcycle Automobile Financial Power s Total Revenue arising from contracts with customers Japan ¥ 105,022 ¥ 1,337,860 ¥ 146,185 ¥ 79,182 ¥ 1,668,249 North America 230,766 4,877,900 1,289,076 152,096 6,549,838 Europe 202,254 319,340 — 79,393 600,987 Asia 1,307,915 2,314,425 37 63,861 3,686,238 Other Regions 337,219 280,702 — 24,305 642,226 Total ¥ 2,183,176 ¥ 9,130,227 ¥ 1,435,298 ¥ 398,837 ¥ 13,147,538 Revenue arising from the other sources* 2,077 17,271 1,385,369 441 1,405,158 Total ¥ 2,185,253 ¥ 9,147,498 ¥ 2,820,667 ¥ 399,278 ¥ 14,552,696 For the year ended March 31, 2023 Yen (millions) Motorcycle Automobile Financial Power s Total Revenue arising from contracts with customers Japan ¥ 109,393 ¥ 1,375,593 ¥ 158,653 ¥ 89,627 ¥ 1,733,266 North America 306,725 5,985,958 1,341,863 182,126 7,816,672 Europe 250,088 332,928 — 94,328 677,344 Asia 1,739,330 2,523,613 29 55,354 4,318,326 Other Regions 502,917 360,299 — 29,464 892,680 Total ¥ 2,908,453 ¥ 10,578,391 ¥ 1,500,545 ¥ 450,899 ¥ 15,438,288 Revenue arising from the other sources* 530 15,128 1,453,553 226 1,469,437 Total ¥ 2,908,983 ¥ 10,593,519 ¥ 2,954,098 ¥ 451,125 ¥ 16,907,725 Explanatory note: * Revenue arising from the other sources primarily includes lease revenues recognized under IFRS 16 and interest recognized under IFRS 9. |
Summary of Information Regarding Receivables from Contracts with Customers and Contract Liabilities | The receivables from contracts with customers and contract liabilities for the years ended March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Receivables from contracts with customers: Trade receivables ¥ 785,157 ¥ 893,559 Contract liabilities: Other current liabilities 261,049 292,552 Other noncurrent liabilities 193,845 240,556 |
Summary of Revenue Expected to be Recognized in the Future Related to Performance Obligations that are Unsatisfied (or Partially Unsatisfied) | The revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Within 1 year ¥ 127,377 ¥ 150,507 Between 1 and 5 years 221,282 280,981 Later than 5 years 15,748 14,892 Total ¥ 364,407 ¥ 446,380 |
Summary of Assets Recognized Costs Obtain a Contract With Customer | The assets recognized from the costs to obtain a contract with a customer as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Assets recognized from the costs to obtain a contract with a customer ¥ 128,864 ¥ 148,074 |
Research and Development (Table
Research and Development (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Summary of Research and Development Costs | Research and development costs for the years ended March 31, 2021, 2022 and 2023 consist of the following: Yen (millions) 2021 2022 2023 Research and development expenditures incurred during the reporting period ¥ 780,065 ¥ 804,025 ¥ 852,067 Amount capitalized (201,889 ) (159,174 ) (120,811 ) Amortization and impairment losses of capitalized development costs 160,718 142,205 149,659 Total ¥ 738,894 ¥ 787,056 ¥ 880,915 |
Finance Income and Finance Co_2
Finance Income and Finance Costs (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Summary of Finance Income and Finance Costs | Finance income and finance costs for the years ended March 31, 2021, 2022 and 2023 consist of the following: Yen (millions) 2021 2022 2023 Interest income: Financial assets measured at amortized cost ¥ 18,146 ¥ 22,847 ¥ 69,217 Financial assets measured at fair value through other comprehensive income 196 185 497 Financial assets measured at fair value through profit or loss 1,463 2,595 3,357 Total 19,805 25,627 73,071 Interest expense: Financial liabilities measured at amortized cost (12,269 ) (15,706 ) (34,065 ) Other (1,608 ) (1,161 ) (2,047 ) Total (13,877 ) (16,867 ) (36,112 ) Other, net: Dividends received: Financial assets measured at fair value through other comprehensive income 3,372 4,777 6,150 Financial assets measured at fair value through profit or loss 0 — — Gains (losses) on derivatives: Financial assets and financial liabilities measured at fair value through profit or loss 15,102 (77,789 ) (92,144 ) Gains (losses) on foreign exchange (26,163 ) 68,033 47,705 Other (17,128 ) (7,335 ) (17,319 ) Total (24,817 ) (12,314 ) (55,608 ) Total ¥ (18,889 ) ¥ (3,554 ) ¥ (18,649 ) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Profit Before Income Taxes and Income Tax Expense | Profit before income taxes and income tax expense for the years ended March 31, 2021, 2022 and 2023 consist of the following: Yen (millions) 2021 2022 2023 Japan Foreign Total Japan Foreign Total Japan Foreign Total Profit (loss) before income taxes ¥ (32,954 ) ¥ 947,007 ¥ 914,053 ¥ (42,213 ) ¥ 1,112,403 ¥ 1,070,190 ¥ (40,638 ) ¥ 920,203 ¥ 879,565 Income tax expense (benefit): Current taxes 7,236 174,694 181,930 9,539 277,894 287,433 12,699 353,611 366,310 Deferred taxes (21,228 ) 57,907 36,679 (4,081 ) 26,137 22,056 (92,631 ) (111,423 ) (204,054 ) Total ¥ (13,992 ) ¥ 232,601 ¥ 218,609 ¥ 5,458 ¥ 304,031 ¥ 309,489 ¥ (79,932 ) ¥ 242,188 ¥ 162,256 |
Reconciliation of Statutory Income Tax Rate to Average Effective Tax Rate | The Japanese statutory income tax rate for the years ended March 31, 2021, 2022 and 2023 2021 2022 2023 Statutory income tax rate 30.2 % 30.2 % 30.2 % Difference in statutory income tax rates of foreign subsidiaries (5.2 ) (4.5 ) (6.3 ) Effects of investments accounted for using the equity method (9.0 ) (5.7 ) (4.0 ) Effects of undistributed earnings and withholding taxes on royalty 7.8 7.1 11.3 Changes in unrecognized deferred tax assets 1.2 1.4 (10.3 ) Effects of income and expense not taxable and deductible for tax purpose 0.3 0.0 0.1 Effects of tax credit (1.4 ) (0.9 ) (2.9 ) Other adjustments relating to prior years (0.1 ) (0.1 ) (0.5 ) Adjustments for the uncertain tax treatments on income taxes (0.8 ) 0.9 0.6 Adjustments for the changes in income tax laws 0.1 0.1 (0.6 ) Other 0.8 0.4 0.8 Average effective tax rate 23.9 % 28.9 % 18.4 % |
Components by Major Factor in Deferred Tax Assets and Deferred Tax Liabilities | The components by major factor in deferred tax assets and deferred tax liabilities as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Deferred tax assets: Inventories ¥ 44,029 ¥ 51,604 Accrued expenses 36,567 56,926 Provisions 100,408 133,007 Property, plant and equipment 27,592 27,854 Intangible assets 12,017 47,995 Retirement benefit liabilities 67,120 64,275 Carryforward of unused tax losses 67,787 108,106 Carryforward of unused tax credit 22,285 14,930 Other 103,114 109,399 Total ¥ 480,919 ¥ 614,096 Deferred tax liabilities: Property, plant and equipment ¥ 82,518 ¥ 106,715 Intangible assets 195,542 182,258 Other financial assets 61,580 59,275 Operating leases 846,978 772,991 Undistributed earnings 59,650 60,914 Retirement benefit assets 68,772 56,932 Other* 65,041 146,519 Total ¥ 1,380,081 ¥ 1,385,604 Net deferred tax assets (liabilities) ¥ (899,162 ) ¥ (771,508 ) Explanatory note: * The amount of deferred tax liabilities arising from an evaluation of receivables from financial service s the United States |
Changes in Deferred Tax Assets and Deferred Tax Liabilities Recognized as Income Tax Expense in the Consolidated Statements of Income | The changes in deferred tax assets and deferred tax liabilities recognized as income tax expense in the consolidated statements of income for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) 2021 2022 2023 Inventories ¥ (3,920 ) ¥ (9,865 ) ¥ (7,407 ) Provisions (10,708 ) (3,491 ) (27,854 ) Property, plant and equipment (6,955 ) (3,738 ) 18,708 Retirement benefit liabilities (assets) (10,353 ) (4,991 ) (4,149 ) Operating leases 37,506 (35,308 ) (153,429 ) Undistributed earnings (2,885 ) 4,198 (1,005 ) Carryforward of unused tax losses (7,695 ) (1,608 ) (42,172 ) Carryforward of unused tax credit 15,695 16,102 9,504 Other* 25,994 60,757 3,750 Total ¥ 36,679 ¥ 22,056 ¥ (204,054 ) Explanatory note: * The income tax expense recognized due to the decrease of deferred tax assets arising from accrued expenses included in other as of March 31, 2022 is ¥ million. |
Deductible Temporary Differences, Carryforward of Unused Tax Losses and Unused Tax Credit for which Deferred Tax Assets are not Recognized | Deductible temporary differences, carryforward of unused tax losses and carryforward of unused tax credit for which deferred tax assets are not recognized as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Deductible temporary differences ¥ 553,778 ¥ 391,536 Carryforward of unused tax losses 693,323 532,191 Carryforward of unused tax credit 549 35,629 |
Components by Expiry of the Carryforward of Unused Tax Losses for which Deferred Tax Assets are not Recognized | The components by expiry of the carryforward of unused tax losses for which deferred tax assets are not recognized as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Within 1 year ¥ 3,603 ¥ 13,331 Between 1 and 5 years 73,448 82,173 Between 5 and 20 years 256,340 107,052 Indefinite periods 359,932 329,635 Total ¥ 693,323 ¥ 532,191 |
Components by Expiry of Carryforward of Unused Tax Credits for which Deferred Tax Assets are not Recognized | The components by expiry of the carryforward of unused tax credit for which deferred tax assets are not recognized as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Within 1 year ¥ 147 ¥ 5 Between 1 and 5 years 259 35,611 Between 5 and 20 years 143 13 Indefinite periods — — Total ¥ 549 ¥ 35,629 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Summary of Earnings Per Share | Earnings per share attributable to owners of the parent for the years ended March 31, 2021, 2022 and 2023 are calculated based on the following information. There were no significant dilutive potential common shares outstanding for the years ended March 31, 2021, 2022 and 2023. 2021 2022 2023 Profit for the year attributable to owners of the parent (millions of yen) ¥ 657,425 ¥ 707,067 ¥ 651,416 Weighted average number of common shares outstanding, basic (shares) 1,726,638,088 1,719,961,835 1,696,307,115 Basic earnings per share attributable to owners of the parent (yen) ¥ 380.75 ¥ 411.09 ¥ 384.02 |
Financial Risk Management (Tabl
Financial Risk Management (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Statement [LineItems] | |
Analysis of the Age of Receivables from Financial Services that are Past Due | The analysis of the age of receivables from financial services that are past due as of March 31, 2022 and 2023 is as follows: Yen (millions) As of March 31, 2022 Less than 30 days 30-59 days 60-89 days 90 days and Total Consumer finance receivables: Retail ¥ 204,661 ¥ 43,051 ¥ 11,452 ¥ 7,512 ¥ 266,676 Finance lease 200 51 7 324 582 Dealer finance receivables: Wholesale 9,661 36 4 23 9,724 Total ¥ 214,522 ¥ 43,138 ¥ 11,463 ¥ 7,859 ¥ 276,982 Yen (millions) As of March 31, 2023 Less than 30 days 30-59 days 60-89 days 90 days and Total Consumer finance receivables: Retail ¥ 223,674 ¥ 55,675 ¥ 13,185 ¥ 9,481 ¥ 302,015 Finance lease 545 118 5 300 968 Dealer finance receivables: Wholesale 8,929 9 11 18 8,967 Total ¥ 233,148 ¥ 55,802 ¥ 13,201 ¥ 9,799 ¥ 311,950 |
Summary of retail receivables included in consumer finance receivables | The balances of retail receivables included in consumer finance receivables as of March 31, 2022 and 2023 are as follows: Yen (millions) 12-month Lifetime ECL Total As of March 31, 2022 Not credit-impaired Credit-impaired Consumer finance receivables: Retail* ¥ 4,897,471 ¥ 139,306 ¥ 17,651 ¥ 5,054,428 Yen (millions) 12-month Lifetime ECL Total As of March 31, 2023 Not credit-impaired Credit-impaired Consumer finance receivables: Retail* ¥ 4,985,289 ¥ 356,005 ¥ 21,966 ¥ 5,363,260 Explanatory note: * The tables above represent the gross amounts of retail receivables by stages of ECL model since the expected credit losses are measured collectively by our finance subsidiaries and the balances of those receivables are not directly allocated to the risk ratings. |
Dealer Finance Receivables and Undiscounted Maximum Amounts of Potential Payment for Loan Commitments | The balances of dealer finance receivables and the undiscounted maximum amounts of potential payment for loan commitments by this risk rating as of March 31, 2022 and 2023 are as follows: Yen (millions) 12-month ECL Lifetime ECL Total As of March 31, 2022 Not credit-impaired Credit-impaired Dealer finance receivables: Group A ¥ 188,101 ¥ 88 ¥ 2,117 ¥ 190,306 Group B 91,995 2,133 72 94,200 Total ¥ 280,096 ¥ 2,221 ¥ 2,189 ¥ 284,506 Loan commitments: Group A ¥ 95,485 ¥ — ¥ — ¥ 95,485 Group B 23,683 — — 23,683 Total ¥ 119,168 ¥ — ¥ — ¥ 119,168 The undiscounted maximum amount of potential payment for guarantees of bank loans of employees for their housing costs as of March 31, 2022 is ¥7,098 million. Yen (millions) 12-month ECL Lifetime ECL Total As of March 31, 2023 Not credit-impaired Credit-impaired Dealer finance receivables: Group A ¥ 297,885 ¥ 706 ¥ 4,612 ¥ 303,203 Group B 116,156 1,684 123 117,963 Total ¥ 414,041 ¥ 2,390 ¥ 4,735 ¥ 421,166 Loan commitments: Group A ¥ 103,858 ¥ — ¥ — ¥ 103,858 Group B 15,364 — — 15,364 Total ¥ 119,222 ¥ — ¥ — ¥ 119,222 The undiscounted maximum amount of potential payment for guarantees of bank loans of employees for their housing costs as of March 31, 2023 is ¥5,988 million. |
Non-derivative Financial Liabilities by Maturity | Non-derivative Yen (millions) As of March 31, 2022 Carrying amount Within 1 year Between Later than Total contractual Trade payables ¥ 1,236,233 ¥ 1,236,233 ¥ — ¥ — ¥ 1,236,233 Financing liabilities 8,102,556 3,218,988 4,407,350 765,207 8,391,545 Accrued expenses 375,601 375,601 — — 375,601 Other financial liabilities 367,041 93,054 94,837 206,529 394,420 Total ¥ 10,081,431 ¥ 4,923,876 ¥ 4,502,187 ¥ 971,736 ¥ 10,397,799 Yen (millions) As of March 31, 2023 Carrying amount Within 1 year Between Later than Total contractual Trade payables ¥ 1,426,333 ¥ 1,426,333 ¥ — ¥ — ¥ 1,426,333 Financing liabilities 7,665,168 3,410,145 4,074,986 511,254 7,996,385 Accrued expenses 419,570 419,570 — — 419,570 Other financial liabilities 369,878 87,685 100,800 207,949 396,434 Total ¥ 9,880,949 ¥ 5,343,733 ¥ 4,175,786 ¥ 719,203 ¥ 10,238,722 |
Summary of Lease liabilities by maturity | Other financial liabilities include lease liabilities. Lease liabilities by maturity as of March 31, 2022 and 2023 are as follows: Yen (millions) As of March 31, 2022 Carrying amount Within 1 year Between Later than Total contractual Lease liabilities ¥ 318,758 ¥ 71,510 ¥ 86,305 ¥ 188,321 ¥ 346,136 Yen (millions) As of March 31, 2023 Carrying amount Within 1 year Between Later than Total contractual Lease liabilities ¥ 315,958 ¥ 69,297 ¥ 87,428 ¥ 185,790 ¥ 342,515 |
Derivative Financial Liabilities by Maturity | Derivative financial liabilities by maturity as of March 31, 2022 and 2023 are as follows: Yen (millions) As of March 31, 2022 Within 1 year Between 1 and 5 years Later than 5 years Total contractual Derivative financial liabilities ¥ 53,895 ¥ 106,214 ¥ 25,140 ¥ 185,249 Yen (millions) As of March 31, 2023 Within 1 year Between 1 and 5 years Later than 5 years Total contractual Derivative financial liabilities ¥ 109,112 ¥ 137,056 ¥ 22,787 ¥ 268,955 |
Currency risk [member] | |
Statement [LineItems] | |
Market Risk Sensitivity Analysis | The following scenario demonstrates the impact of a 1% appreciation of the Japanese yen against the U.S. dollar on profit before income taxes, holding all variables other than the foreign currency exchange rate constant. Yen (millions) 2022 2023 Impact on profit before income taxes ¥ (1,780) ¥ (2,696) |
Interest rate risk [member] | |
Statement [LineItems] | |
Market Risk Sensitivity Analysis | The following scenario demonstrates the impact of a 100 basis point rise in interest rates on profit before income taxes, holding all variables other than interest rates constant. Yen (millions) 2022 2023 Impact on profit before income taxes ¥ (25,830) ¥ (2,092) |
Credit facility [member] | |
Statement [LineItems] | |
Unused Portions of Credit Facility | The unused portions of the credit facility of Honda’s commercial paper and medium-term note programs as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Commercial paper ¥ 1,190,631 ¥ 729,096 Medium-term notes 1,291,612 3,832,311 Total ¥ 2,482,243 ¥ 4,561,407 |
Committed lines of credit [member] | |
Statement [LineItems] | |
Unused Portions of Credit Facility | The unused portions of the committed lines of credit extended by financial institutions to Honda as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Commercial paper programs ¥ 1,226,138 ¥ 1,306,781 Other 67,976 65,299 Total ¥ 1,294,114 ¥ 1,372,080 |
Fair Value (Tables)
Fair Value (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Measured at fair value on a recurring basis [member] | |
Statement [LineItems] | |
Financial Assets and Financial Liabilities | Assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and 2023 consist of the following: Yen (millions) As of March 31, 2022 Level 1 Level 2 Level 3 Total Other financial assets: Financial assets measured at fair value through profit or loss: Derivatives Foreign exchange instruments ¥ — ¥ 15,674 ¥ — ¥ 15,674 Interest rate instruments — 114,016 — 114,016 Other — — 4,648 4,648 Total — 129,690 4,648 134,338 Debt securities 42,837 54,641 4,773 102,251 Financial assets measured at fair value through other comprehensive income: Debt securities — 19,984 — 19,984 Equity securities 335,745 — 133,038 468,783 Total ¥ 378,582 ¥ 204,315 ¥ 142,459 ¥ 725,356 Other financial liabilities: Financial liabilities measured at fair value through profit or loss: Derivatives Foreign exchange instruments ¥ — ¥ 66,644 ¥ — ¥ 66,644 Interest rate instruments — 83,669 — 83,669 Other — 1,629 — 1,629 Total — 151,942 — 151,942 Total ¥ — ¥ 151,942 ¥ — ¥ 151,942 There were no transfers between Level 1 and Level 2 for the year ended March 31, 2022. Yen (millions) As of March 31, 2023 Level 1 Level 2 Level 3 Total Other financial assets: Financial assets measured at fair value through profit or loss: Derivatives Foreign exchange instruments ¥ — ¥ 29,026 ¥ — ¥ 29,026 Interest rate instruments — 151,242 — 151,242 Other — — 5,700 5,700 Total — 180,268 5,700 185,968 Debt securities 43,264 53,634 5,074 101,972 Financial assets measured at fair value through other comprehensive income: Debt securities — 26,555 — 26,555 Equity securities 325,318 — 149,820 475,138 Total ¥ 368,582 ¥ 260,457 ¥ 160,594 ¥ 789,633 Other financial liabilities: Financial liabilities measured at fair value through profit or loss: Derivatives Foreign exchange instruments ¥ — ¥ 95,412 ¥ — ¥ 95,412 Interest rate instruments — 141,786 — 141,786 Other — 5,770 — 5,770 Total — 242,968 — 242,968 Total ¥ — ¥ 242,968 ¥ — ¥ 242,968 |
Measured at fair value on a recurring basis [member] | Level 3 [member] | |
Statement [LineItems] | |
Financial Assets and Financial Liabilities | The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the years ended March 31, 2022 and 2023 are as follows: Yen (millions) For the year ended March 31, 2022 Derivatives Debt securities Equity securities Balance as of April 1, 2021 ¥ 4,829 ¥ 5,314 ¥ 110,050 Total gains or losses: Profit or loss (674 ) 112 — Other comprehensive income — — 17,973 Purchases — — 7,075 Sales — (1,124 ) (1,487 ) Transfer to level 1 due to listing — — (1,158 ) Exchange differences on translating foreign operations 493 471 585 Balance as of March 31, 2022 ¥ 4,648 ¥ 4,773 ¥ 133,038 Unrealized gains or losses included in profit or loss on assets held at March 31, 2022 ¥ (674 ) ¥ 112 ¥ — Yen (millions) For the year ended March 31, 2023 Derivatives Debt securities Equity securities Balance as of April 1, 2022 ¥ 4,648 ¥ 4,773 ¥ 133,038 Total gains or losses: Profit or loss 678 (136 ) — Other comprehensive income — — 9,156 Purchases — — 10,029 Sales — — (1,144 ) Transfer to level 1 due to listing — — (1,551 ) Exchange differences on translating foreign operations 374 437 292 Balance as of March 31, 2023 ¥ 5,700 ¥ 5,074 ¥ 149,820 Unrealized gains or losses included in profit or loss on assets held at March 31, 2023 ¥ 678 ¥ (136 ) ¥ — Explanatory notes: 1. Gains or losses included in profit or loss for the years ended March 31, 2022 and 2023 are included in other, net in finance income and finance costs in the consolidated statements of income. 2. Gains or losses on equity securities included in other comprehensive income for the years ended March 31, 2022 and 2023 are included in net changes in revaluation of financial assets measured at fair value through other comprehensive income under items that will not be reclassified to profit or loss in the consolidated statements of comprehensive income. |
At cost [member] | |
Statement [LineItems] | |
Financial Assets and Financial Liabilities | The carrying amounts and fair values of financial assets and financial liabilities measured at amortized cost as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Carrying Fair value Carrying Fair value Receivables from financial services ¥ 5,434,496 ¥ 5,374,754 ¥ 5,894,752 ¥ 5,696,283 Debt securities 79,176 79,176 85,235 85,235 Financing liabilities 8,102,556 7,984,057 7,665,168 7,440,205 |
Offsetting of Financial Asset_2
Offsetting of Financial Assets and Financial Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Offsetting Information Regarding Financial Assets and Financial Liabilities | The offsetting information regarding financial assets and financial liabilities as of March 31, 2022 and 2023 is as follows: Yen (millions) As of March 31, 2022 Gross amounts of Amounts offset Net amounts presented Amounts not offset due to not Net Amounts Other financial assets Derivatives ¥ 134,338 ¥ — ¥ 134,338 ¥ (98,419 ) ¥ 35,919 Other financial liabilities Derivatives 151,942 — 151,942 (98,419 ) 53,523 Yen (millions) As of March 31, 2023 Gross amounts of Amounts offset Net amounts presented Amounts not offset due to not Net Amounts Other financial assets Derivatives ¥ 185,968 ¥ — ¥ 185,968 ¥ (133,472 ) ¥ 52,496 Other financial liabilities Derivatives 242,968 — 242,968 (133,472 ) 109,496 |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Commitments for Purchases of Property, Plant and Equipment and Other Commitments | Commitments for purchases of property, plant and equipment and other commitments as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Commitments for purchases of property, plant and equipment and other commitments ¥ 60,527 ¥ 107,865 |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [Abstract] | |
Balances of Receivables and Payables with Affiliates and Joint Ventures | The balances of receivables and payables with affiliates and joint ventures as of March 31, 2022 and 2023 are as follows: Yen (millions) 2022 2023 Receivables: Affiliates ¥ 34,317 ¥ 95,429 Joint ventures 346,370 340,368 Total ¥ 380,687 ¥ 435,797 Payables: Affiliates ¥ 147,705 ¥ 207,090 Joint ventures 36,380 67,044 Total ¥ 184,085 ¥ 274,134 |
Amount of Transactions with Affiliates and Joint Ventures | The amount of the transactions with affiliates and joint ventures for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) 2021 2022 2023 Sales revenue: Affiliates ¥ 87,742 ¥ 93,187 ¥ 125,318 Joint ventures 985,920 1,053,370 942,003 Total ¥ 1,073,662 ¥ 1,146,557 ¥ 1,067,321 Purchase: Affiliates ¥ 1,015,921 ¥ 1,176,066 ¥ 1,443,840 Joint ventures 150,123 194,321 238,341 Total ¥ 1,166,044 ¥ 1,370,387 ¥ 1,682,181 |
Compensation Paid to Directors | Compensation paid to the directors and executive officers of the Company for the years ended March 31, 2021, 2022 and 2023 are as follows: Yen (millions) 2021 2022 2023 Remuneration ¥ 683 ¥ 696 ¥ 679 STI (Short Term Incentive) 95 188 229 LTI (Long Term Incentive) 129 159 286 Total ¥ 907 ¥ 1,043 ¥ 1,194 |
Major Consolidated Subsidiaries | Major consolidated subsidiaries as of March 31, 2023 are as follows: Company Country of Function Percentage Honda R&D Co., Ltd. Japan Research & Development 100.0 Honda Finance Co., Ltd. Japan Finance 100.0 American Honda Motor Co., Inc. U.S.A. Coordination of Subsidiaries Operation, Research & Development, Manufacturing and Sales 100.0 American Honda Finance Corporation U.S.A. Finance 100.0 Honda Development and Manufacturing of America, LLC U.S.A. Research & Development and Manufacturing 100.0 Honda Canada Inc. Canada Manufacturing and Sales 100.0 Honda Canada Finance Inc. Canada Finance 100.0 Honda de Mexico, S.A. de C.V. Mexico Manufacturing and Sales 100.0 Honda Motor Europe Limited U.K. Coordination of Subsidiaries Operation and Sales 100.0 Honda Finance Europe plc U.K. Finance 100.0 Honda Motor (China) Investment Co., Ltd. China Coordination of Subsidiaries Operation and Sales 100.0 Honda Auto Parts Manufacturing Co., Ltd. China Manufacturing 100.0 Honda Motorcycle & Scooter India (Private) Ltd. India Manufacturing and Sales 100.0 Honda Cars India Limited India Manufacturing and Sales 100.0 P.T. Honda Prospect Motor Indonesia Manufacturing and Sales 51.0 Honda Malaysia Sdn Bhd Malaysia Manufacturing and Sales 51.0 Asian Honda Motor Co., Ltd. Thailand Coordination of Subsidiaries Operation and Sales 100.0 Honda Leasing (Thailand) Co., Ltd. Thailand Finance 100.0 Honda Automobile (Thailand) Co., Ltd. Thailand Manufacturing and Sales 89.0 Thai Honda Co., Ltd. Thailand Manufacturing and Sales 72.5 Honda Vietnam Co., Ltd. Vietnam Manufacturing and Sales 70.0 Honda South America Ltda. Brazil Coordination of Subsidiaries Operation 100.0 Moto Honda da Amazonia Ltda. Brazil Manufacturing and Sales 100.0 |
Significant Accounting Polici_3
Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Line Items] | |
Consideration payment period | 30 days |
Capitalized development costs [member] | Bottom of range [member] | |
Accounting Policies [Line Items] | |
Estimated useful lives of intangible assets | 2 years |
Capitalized development costs [member] | Top of range [member] | |
Accounting Policies [Line Items] | |
Estimated useful lives of intangible assets | 6 years |
Other [member] | Bottom of range [member] | |
Accounting Policies [Line Items] | |
Estimated useful lives of intangible assets | 3 years |
Other [member] | Top of range [member] | |
Accounting Policies [Line Items] | |
Estimated useful lives of intangible assets | 5 years |
Buildings and structures [member] | Bottom of range [member] | |
Accounting Policies [Line Items] | |
Estimated useful lives of property, plant and equipment | 3 years |
Buildings and structures [member] | Top of range [member] | |
Accounting Policies [Line Items] | |
Estimated useful lives of property, plant and equipment | 50 years |
Machinery and equipment [member] | Bottom of range [member] | |
Accounting Policies [Line Items] | |
Estimated useful lives of property, plant and equipment | 2 years |
Machinery and equipment [member] | Top of range [member] | |
Accounting Policies [Line Items] | |
Estimated useful lives of property, plant and equipment | 20 years |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2023 Segments | |
Disclosure of operating segments [line items] | |
Number of reportable segments | 4 |
Segment Information - Summary o
Segment Information - Summary of Segment Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of operating segments [line items] | |||
Sales revenue | ¥ 16,907,725 | ¥ 14,552,696 | ¥ 13,170,519 |
Segment profit (loss) | 780,769 | 871,232 | 660,208 |
Share of profit of investments accounted for using the equity method | 117,445 | 202,512 | 272,734 |
Segment assets | 24,670,067 | 23,973,153 | 21,921,030 |
Investments accounted for using the equity method | 915,946 | 967,404 | 891,002 |
Depreciation and amortization | 1,596,876 | 1,476,908 | 1,425,118 |
Capital expenditures | 2,233,521 | 2,503,820 | 2,567,104 |
Impairment losses on non-financial assets | 34,789 | 15,224 | 4,763 |
Provision (reversal) for credit and lease residual losses on receivables from financial services | 27,018 | 9,282 | (5,038) |
External customers [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 16,907,725 | 14,552,696 | 13,170,519 |
Intersegment [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | |||
Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 17,123,276 | 14,790,927 | 13,415,264 |
Segment profit (loss) | 780,769 | 871,232 | 660,208 |
Share of profit of investments accounted for using the equity method | 117,445 | 202,512 | 272,734 |
Segment assets | 23,340,223 | 22,806,359 | 21,404,980 |
Investments accounted for using the equity method | 915,946 | 967,404 | 891,002 |
Depreciation and amortization | 1,596,876 | 1,476,908 | 1,425,118 |
Capital expenditures | 2,233,521 | 2,503,820 | 2,567,104 |
Impairment losses on non-financial assets | 34,789 | 15,224 | 4,763 |
Provision (reversal) for credit and lease residual losses on receivables from financial services | 27,018 | 9,282 | (5,038) |
Operating segments [member] | External customers [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 16,907,725 | 14,552,696 | 13,170,519 |
Operating segments [member] | Intersegment [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 215,551 | 238,231 | 244,745 |
Operating segments [member] | Motorcycle business [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 2,908,983 | 2,185,253 | 1,787,283 |
Segment profit (loss) | 488,709 | 311,492 | 224,608 |
Share of profit of investments accounted for using the equity method | 49,119 | 33,510 | 18,164 |
Segment assets | 1,580,521 | 1,448,926 | 1,555,057 |
Investments accounted for using the equity method | 110,665 | 104,535 | 88,476 |
Depreciation and amortization | 65,746 | 65,423 | 68,258 |
Capital expenditures | 59,101 | 49,203 | 48,800 |
Impairment losses on non-financial assets | 4,662 | (23) | 726 |
Provision (reversal) for credit and lease residual losses on receivables from financial services | |||
Operating segments [member] | Motorcycle business [member] | External customers [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 2,908,983 | 2,185,253 | 1,787,283 |
Operating segments [member] | Motorcycle business [member] | Intersegment [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | |||
Operating segments [member] | Automobile business [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 10,781,717 | 9,360,593 | 8,779,349 |
Segment profit (loss) | (16,629) | 236,207 | 90,255 |
Share of profit of investments accounted for using the equity method | 66,973 | 168,415 | 254,079 |
Segment assets | 10,082,519 | 9,563,553 | 8,643,109 |
Investments accounted for using the equity method | 795,973 | 855,309 | 796,036 |
Depreciation and amortization | 600,617 | 510,755 | 515,241 |
Capital expenditures | 613,351 | 410,169 | 500,431 |
Impairment losses on non-financial assets | 24,777 | 13,097 | 19,999 |
Provision (reversal) for credit and lease residual losses on receivables from financial services | |||
Operating segments [member] | Automobile business [member] | External customers [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 10,593,519 | 9,147,498 | 8,567,205 |
Operating segments [member] | Automobile business [member] | Intersegment [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 188,198 | 213,095 | 212,144 |
Operating segments [member] | Financial services business [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 2,956,144 | 2,823,323 | 2,506,788 |
Segment profit (loss) | 285,857 | 333,032 | 356,980 |
Share of profit of investments accounted for using the equity method | |||
Segment assets | 11,197,017 | 11,318,756 | 10,832,645 |
Investments accounted for using the equity method | |||
Depreciation and amortization | 908,942 | 883,712 | 825,975 |
Capital expenditures | 1,546,683 | 2,028,700 | 2,006,264 |
Impairment losses on non-financial assets | 5,259 | 1,874 | (16,319) |
Provision (reversal) for credit and lease residual losses on receivables from financial services | 27,018 | 9,282 | (5,038) |
Operating segments [member] | Financial services business [member] | External customers [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 2,954,098 | 2,820,667 | 2,494,294 |
Operating segments [member] | Financial services business [member] | Intersegment [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 2,046 | 2,656 | 12,494 |
Operating segments [member] | Power products and other businesses | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 476,432 | 421,758 | 341,844 |
Segment profit (loss) | 22,832 | (9,499) | (11,635) |
Share of profit of investments accounted for using the equity method | 1,353 | 587 | 491 |
Segment assets | 480,166 | 475,124 | 374,169 |
Investments accounted for using the equity method | 9,308 | 7,560 | 6,490 |
Depreciation and amortization | 21,571 | 17,018 | 15,644 |
Capital expenditures | 14,386 | 15,748 | 11,609 |
Impairment losses on non-financial assets | 91 | 276 | 357 |
Provision (reversal) for credit and lease residual losses on receivables from financial services | |||
Operating segments [member] | Power products and other businesses | External customers [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 451,125 | 399,278 | 321,737 |
Operating segments [member] | Power products and other businesses | Intersegment [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | 25,307 | 22,480 | 20,107 |
Reconciling items [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | (215,551) | (238,231) | (244,745) |
Segment profit (loss) | |||
Share of profit of investments accounted for using the equity method | |||
Segment assets | 1,329,844 | 1,166,794 | 516,050 |
Investments accounted for using the equity method | |||
Depreciation and amortization | |||
Capital expenditures | |||
Impairment losses on non-financial assets | |||
Provision (reversal) for credit and lease residual losses on receivables from financial services | |||
Reconciling items [member] | External customers [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | |||
Reconciling items [member] | Intersegment [member] | |||
Disclosure of operating segments [line items] | |||
Sales revenue | ¥ (215,551) | ¥ (238,231) | ¥ (244,745) |
Segment Information - Summary_2
Segment Information - Summary of Segment Information (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | ||
Disclosure of operating segments [line items] | ||||
Segment assets | ¥ 24,670,067 | ¥ 23,973,153 | ¥ 21,921,030 | |
Provisions for product warranties | 317,616 | |||
Write-down of inventories recognized as an expense | 8,400 | 11,295 | 28,420 | |
Unallocated corporate assets [member] | ||||
Disclosure of operating segments [line items] | ||||
Segment assets | 1,462,656 | 1,319,995 | 696,327 | |
Product warranties [member] | ||||
Disclosure of operating segments [line items] | ||||
Provisions for product warranties | ¥ 289,850 | [1] | ¥ 118,378 | ¥ 272,076 |
[1]Honda recognizes provisions for product warranties to cover future product warranty expenses. Honda recognizes costs for general warranties on products Honda sells and for specific warranty programs, including product recalls. Honda recognizes general estimated warranty costs at the time products are sold to customers. Honda also recognizes specific estimated warranty program costs when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. These provisions are estimated based on historical warranty claim experience with consideration given to the expected level of future warranty costs, including current sales trends, the expected number of units to be affected and the estimated average repair cost per unit for warranty claims. Provisions for product warranties are utilized for expenditures based on the demand from customers and dealers. |
Segment Information - Sales Rev
Segment Information - Sales Revenue by Product or Service Groups (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of products and services [line items] | |||
Sales revenue | ¥ 16,907,725 | ¥ 14,552,696 | ¥ 13,170,519 |
Motorcycles and relevant parts [member] | |||
Disclosure of products and services [line items] | |||
Sales revenue | 2,742,572 | 2,066,557 | 1,658,871 |
All-terrain vehicles (ATVs), side-by-sides (SxS) and relevant parts [member] | |||
Disclosure of products and services [line items] | |||
Sales revenue | 166,411 | 118,696 | 128,412 |
Automobiles and relevant parts [member] | |||
Disclosure of products and services [line items] | |||
Sales revenue | 12,093,972 | 10,582,764 | 9,746,374 |
Financial services [member] | |||
Disclosure of products and services [line items] | |||
Sales revenue | 1,453,645 | 1,385,401 | 1,315,125 |
Power products and relevant parts [member] | |||
Disclosure of products and services [line items] | |||
Sales revenue | 360,385 | 294,577 | 257,237 |
Others [member] | |||
Disclosure of products and services [line items] | |||
Sales revenue | ¥ 90,740 | ¥ 104,701 | ¥ 64,500 |
Segment Information - Sales R_2
Segment Information - Sales Revenue and Carrying Amounts of Non-current Assets Other Than Financial Instruments and Deferred Tax Assets Based on Location (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of geographical areas [line items] | |||
Sales revenue | ¥ 16,907,725 | ¥ 14,552,696 | ¥ 13,170,519 |
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | 9,038,952 | 9,296,091 | 8,934,468 |
External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 16,907,725 | 14,552,696 | 13,170,519 |
Japan [member] | |||
Disclosure of geographical areas [line items] | |||
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | 2,937,148 | 3,036,832 | 3,050,270 |
Japan [member] | External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 2,409,584 | 2,354,532 | 2,190,797 |
United States [member] | |||
Disclosure of geographical areas [line items] | |||
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | 4,373,329 | 4,490,562 | 4,242,405 |
United States [member] | External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 7,905,936 | 6,728,800 | 6,291,857 |
Other Countries [member] | |||
Disclosure of geographical areas [line items] | |||
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | 1,728,475 | 1,768,697 | 1,641,793 |
Other Countries [member] | External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | ¥ 6,592,205 | ¥ 5,469,364 | ¥ 4,687,865 |
Segment Information - Supplemen
Segment Information - Supplemental Geographical Information Based on Location (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of geographical areas [line items] | |||
Sales revenue | ¥ 16,907,725 | ¥ 14,552,696 | ¥ 13,170,519 |
Operating profit (loss) | 780,769 | 871,232 | 660,208 |
Assets | 24,670,067 | 23,973,153 | 21,921,030 |
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | 9,038,952 | 9,296,091 | 8,934,468 |
External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 16,907,725 | 14,552,696 | 13,170,519 |
Inter-geographic areas [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | |||
Japan [member] | |||
Disclosure of geographical areas [line items] | |||
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | 2,937,148 | 3,036,832 | 3,050,270 |
Japan [member] | External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 2,409,584 | 2,354,532 | 2,190,797 |
Material reconciling items [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | (215,551) | (238,231) | (244,745) |
Operating profit (loss) | |||
Assets | 1,329,844 | 1,166,794 | 516,050 |
Material reconciling items [member] | External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | |||
Geographical consolidation [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 20,345,424 | 17,799,270 | 15,923,795 |
Operating profit (loss) | 749,733 | 896,193 | 654,265 |
Assets | 23,884,156 | 23,323,160 | 21,932,331 |
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | 9,038,952 | 9,296,091 | 8,934,468 |
Geographical consolidation [member] | External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 16,907,725 | 14,552,696 | 13,170,519 |
Geographical consolidation [member] | Inter-geographic areas [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 3,437,699 | 3,246,574 | 2,753,276 |
Geographical consolidation [member] | Japan [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 4,548,002 | 4,359,286 | 3,867,835 |
Operating profit (loss) | 25,821 | 6,411 | (75,935) |
Assets | 5,306,084 | 5,318,033 | 5,295,475 |
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | 2,937,148 | 3,036,832 | 3,050,270 |
Geographical consolidation [member] | Japan [member] | External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 2,409,584 | 2,354,532 | 2,190,797 |
Geographical consolidation [member] | Japan [member] | Inter-geographic areas [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 2,138,418 | 2,004,754 | 1,677,038 |
Geographical consolidation [member] | North America [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 9,416,252 | 8,090,187 | 7,480,837 |
Operating profit (loss) | 258,805 | 501,073 | 455,888 |
Assets | 13,467,383 | 12,983,779 | 12,209,455 |
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | 5,192,731 | 5,334,121 | 5,039,085 |
Geographical consolidation [member] | North America [member] | External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 8,939,259 | 7,618,932 | 7,081,264 |
Geographical consolidation [member] | North America [member] | Inter-geographic areas [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 476,993 | 471,255 | 399,573 |
Geographical consolidation [member] | Europe [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 703,718 | 701,211 | 681,849 |
Operating profit (loss) | (2,556) | 26,681 | 27,460 |
Assets | 648,614 | 597,473 | 677,066 |
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | 47,869 | 49,129 | 60,790 |
Geographical consolidation [member] | Europe [member] | External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 675,728 | 602,695 | 503,549 |
Geographical consolidation [member] | Europe [member] | Inter-geographic areas [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 27,990 | 98,516 | 178,300 |
Geographical consolidation [member] | Asia [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 4,857,837 | 4,055,447 | 3,458,779 |
Operating profit (loss) | 408,728 | 339,129 | 251,886 |
Assets | 3,771,171 | 3,803,877 | 3,267,417 |
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | 685,311 | 706,562 | 666,795 |
Geographical consolidation [member] | Asia [member] | External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 4,068,234 | 3,393,323 | 2,966,814 |
Geographical consolidation [member] | Asia [member] | Inter-geographic areas [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 789,603 | 662,124 | 491,965 |
Geographical consolidation [member] | Other regions [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 819,615 | 593,139 | 434,495 |
Operating profit (loss) | 58,935 | 22,899 | (5,034) |
Assets | 690,904 | 619,998 | 482,918 |
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | 175,893 | 169,447 | 117,528 |
Geographical consolidation [member] | Other regions [member] | External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 814,920 | 583,214 | 428,095 |
Geographical consolidation [member] | Other regions [member] | Inter-geographic areas [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | 4,695 | 9,925 | 6,400 |
Reconciling items [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | (3,437,699) | (3,246,574) | (2,753,276) |
Operating profit (loss) | 31,036 | (24,961) | 5,943 |
Assets | 785,911 | 649,993 | (11,301) |
Non-current assets other than financial instruments, deferred tax assets and net defined benefit assets | |||
Reconciling items [member] | External customers [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | |||
Reconciling items [member] | Inter-geographic areas [member] | |||
Disclosure of geographical areas [line items] | |||
Sales revenue | ¥ (3,437,699) | ¥ (3,246,574) | ¥ (2,753,276) |
Segment Information - Supplem_2
Segment Information - Supplemental Geographical Information Based on Location (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure of geographical areas [line items] | |||
Assets | ¥ 24,670,067 | ¥ 23,973,153 | ¥ 21,921,030 |
Unallocated corporate assets [member] | |||
Disclosure of geographical areas [line items] | |||
Assets | ¥ 1,462,656 | ¥ 1,319,995 | ¥ 696,327 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 |
Cash and cash equivalents [abstract] | ||||
Cash and deposits | ¥ 2,822,949 | ¥ 2,654,447 | ||
Cash equivalents | 980,065 | 1,020,484 | ||
Total | ¥ 3,803,014 | ¥ 3,674,931 | ¥ 2,758,020 | ¥ 2,672,353 |
Trade Receivables - Summary of
Trade Receivables - Summary of Trade Receivables (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Trade receivables | ¥ 1,060,271 | ¥ 896,768 | ||
Trade receivables [member] | ||||
Disclosure of financial assets [line items] | ||||
Allowance for impairment losses | (8,620) | (8,845) | ¥ (10,521) | ¥ (11,302) |
Gross carrying amount [member] | Trade accounts and notes receivable [member] | ||||
Disclosure of financial assets [line items] | ||||
Trade receivables | 900,312 | 793,022 | ||
Gross carrying amount [member] | Other [member] | ||||
Disclosure of financial assets [line items] | ||||
Trade receivables | ¥ 168,579 | ¥ 112,591 |
Trade Receivables - Changes in
Trade Receivables - Changes in Allowance for Impairment Losses on Trade Receivables (Detail) - Trade receivables [member] - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of financial assets [line items] | |||
Balance at beginning of year | ¥ 8,845 | ¥ 10,521 | ¥ 11,302 |
Remeasurement | 297 | 260 | 516 |
Write-offs | (757) | (2,648) | (1,312) |
Exchange differences on translating foreign operations | 235 | 712 | 15 |
Balance at end of year | ¥ 8,620 | ¥ 8,845 | ¥ 10,521 |
Receivables from Financial Se_3
Receivables from Financial Services - Summary of Receivables from Financial Services (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of financial assets [line items] | |||||
Receivables from financial services | ¥ 5,894,752 | ¥ 5,434,496 | |||
Unearned interest income and fees | (15,278) | (11,307) | |||
Current assets | 1,899,493 | 1,694,113 | |||
Non-current assets | 3,995,259 | 3,740,383 | |||
Receivables from financial services | 5,894,752 | 5,434,496 | |||
Retail [member] | |||||
Disclosure of financial assets [line items] | |||||
Receivables from financial services | [1] | 5,363,260 | 5,054,428 | ||
Allowance for credit losses | (46,083) | (36,767) | ¥ (34,286) | ¥ (60,241) | |
Receivables from financial services | [1] | 5,363,260 | 5,054,428 | ||
Finance lease [member] | |||||
Disclosure of financial assets [line items] | |||||
Allowance for credit losses | (465) | (487) | (813) | (690) | |
Wholesale [member] | |||||
Disclosure of financial assets [line items] | |||||
Receivables from financial services | 421,166 | 284,506 | |||
Allowance for credit losses | (2,104) | (1,809) | ¥ (2,267) | ¥ (2,537) | |
Receivables from financial services | 421,166 | 284,506 | |||
Gross carrying amount [member] | |||||
Disclosure of financial assets [line items] | |||||
Receivables from financial services | 5,958,682 | 5,484,866 | |||
Receivables from financial services | 5,958,682 | 5,484,866 | |||
Gross carrying amount [member] | Retail [member] | |||||
Disclosure of financial assets [line items] | |||||
Receivables from financial services | 5,363,260 | 5,054,428 | |||
Receivables from financial services | 5,363,260 | 5,054,428 | |||
Gross carrying amount [member] | Finance lease [member] | |||||
Disclosure of financial assets [line items] | |||||
Receivables from financial services | 174,256 | 145,932 | |||
Receivables from financial services | 174,256 | 145,932 | |||
Gross carrying amount [member] | Wholesale [member] | |||||
Disclosure of financial assets [line items] | |||||
Receivables from financial services | 421,166 | 284,506 | |||
Receivables from financial services | 421,166 | 284,506 | |||
Financial Services receivables [member] | |||||
Disclosure of financial assets [line items] | |||||
Allowance for credit losses | ¥ (48,652) | ¥ (39,063) | |||
[1]The tables above represent the gross amounts of retail receivables by stages of ECL model since the expected credit losses are measured collectively by our finance subsidiaries and the balances of those receivables are not directly allocated to the risk ratings. |
Receivables from Financial Se_4
Receivables from Financial Services - Gross Investment in Lease and Present Value of Minimum Lease Payments Receivable (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted lease payments receivable | ¥ 109,355 | ¥ 77,142 |
Unearned finance income | (8,417) | (4,603) |
Unguaranteed residual value | 58,040 | 62,086 |
Net investment in the lease | 158,978 | 134,625 |
Within 1 year [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Gross investment in the lease | 32,525 | 25,066 |
Between 1 and 2 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Gross investment in the lease | 33,924 | 25,569 |
Between 2 and 3 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Gross investment in the lease | 20,381 | 13,192 |
Between 3 and 4 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Gross investment in the lease | 13,497 | 9,335 |
Between 4 and 5 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Gross investment in the lease | 4,020 | 2,153 |
Later than 5 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Gross investment in the lease | ¥ 5,008 | ¥ 1,827 |
Receivables from Financial Se_5
Receivables from Financial Services - Changes in Allowance for Credit Losses on Receivables from Financial Services (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Retail [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | ¥ 36,767 | ¥ 34,286 | ¥ 60,241 |
Remeasurement | 26,829 | 10,263 | (4,778) |
Write-offs | (19,942) | (12,256) | (20,733) |
Exchange differences on translating foreign operations | 2,429 | 4,474 | (444) |
Balance at end of year | 46,083 | 36,767 | 34,286 |
Finance lease [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 487 | 813 | 690 |
Remeasurement | (3) | (255) | 142 |
Write-offs | (35) | (97) | (107) |
Exchange differences on translating foreign operations | 16 | 26 | 88 |
Balance at end of year | 465 | 487 | 813 |
Wholesale [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 1,809 | 2,267 | 2,537 |
Remeasurement | 192 | (726) | (402) |
Write-offs | 33 | 30 | 18 |
Exchange differences on translating foreign operations | 70 | 238 | 114 |
Balance at end of year | 2,104 | 1,809 | 2,267 |
Financial Services receivables [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 39,063 | 37,366 | 63,468 |
Remeasurement | 27,018 | 9,282 | (5,038) |
Write-offs | (19,944) | (12,323) | (20,822) |
Exchange differences on translating foreign operations | 2,515 | 4,738 | (242) |
Balance at end of year | 48,652 | 39,063 | 37,366 |
12-month ECL [member] | Retail [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 23,789 | 23,480 | 26,655 |
Remeasurement | 868 | (2,513) | (3,286) |
Write-offs | |||
Exchange differences on translating foreign operations | 1,810 | 2,822 | 111 |
Balance at end of year | 26,467 | 23,789 | 23,480 |
12-month ECL [member] | Finance lease [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 139 | 470 | 481 |
Remeasurement | 49 | (339) | (65) |
Write-offs | |||
Exchange differences on translating foreign operations | 4 | 8 | 54 |
Balance at end of year | 192 | 139 | 470 |
12-month ECL [member] | Wholesale [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 1,176 | 1,741 | 1,437 |
Remeasurement | (263) | (649) | 160 |
Write-offs | |||
Exchange differences on translating foreign operations | 63 | 84 | 144 |
Balance at end of year | 976 | 1,176 | 1,741 |
12-month ECL [member] | Financial Services receivables [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 25,104 | 25,691 | 28,573 |
Remeasurement | 654 | (3,501) | (3,191) |
Write-offs | |||
Exchange differences on translating foreign operations | 1,877 | 2,914 | 309 |
Balance at end of year | 27,635 | 25,104 | 25,691 |
Lifetime ECL [member] | Not credit-impaired [member] | Retail [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 5,514 | 5,923 | 26,632 |
Remeasurement | 5,288 | (925) | (20,319) |
Write-offs | |||
Exchange differences on translating foreign operations | 270 | 516 | (390) |
Balance at end of year | 11,072 | 5,514 | 5,923 |
Lifetime ECL [member] | Not credit-impaired [member] | Finance lease [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 92 | 184 | 96 |
Remeasurement | (28) | (98) | 71 |
Write-offs | |||
Exchange differences on translating foreign operations | 5 | 6 | 17 |
Balance at end of year | 69 | 92 | 184 |
Lifetime ECL [member] | Not credit-impaired [member] | Wholesale [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 17 | 62 | 318 |
Remeasurement | (8) | (46) | (270) |
Write-offs | |||
Exchange differences on translating foreign operations | 1 | 1 | 14 |
Balance at end of year | 10 | 17 | 62 |
Lifetime ECL [member] | Not credit-impaired [member] | Financial Services receivables [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 5,623 | 6,169 | 27,046 |
Remeasurement | 5,252 | (1,069) | (20,518) |
Write-offs | |||
Exchange differences on translating foreign operations | 276 | 523 | (359) |
Balance at end of year | 11,151 | 5,623 | 6,169 |
Lifetime ECL [member] | Credit-impaired [member] | Retail [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 7,464 | 4,883 | 6,954 |
Remeasurement | 20,673 | 13,701 | 18,827 |
Write-offs | (19,942) | (12,256) | (20,733) |
Exchange differences on translating foreign operations | 349 | 1,136 | (165) |
Balance at end of year | 8,544 | 7,464 | 4,883 |
Lifetime ECL [member] | Credit-impaired [member] | Finance lease [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 256 | 159 | 113 |
Remeasurement | (24) | 182 | 136 |
Write-offs | (35) | (97) | (107) |
Exchange differences on translating foreign operations | 7 | 12 | 17 |
Balance at end of year | 204 | 256 | 159 |
Lifetime ECL [member] | Credit-impaired [member] | Wholesale [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 616 | 464 | 782 |
Remeasurement | 463 | (31) | (292) |
Write-offs | 33 | 30 | 18 |
Exchange differences on translating foreign operations | 6 | 153 | (44) |
Balance at end of year | 1,118 | 616 | 464 |
Lifetime ECL [member] | Credit-impaired [member] | Financial Services receivables [member] | |||
Disclosure of financial assets [line items] | |||
Balance at beginning of year | 8,336 | 5,506 | 7,849 |
Remeasurement | 21,112 | 13,852 | 18,671 |
Write-offs | (19,944) | (12,323) | (20,822) |
Exchange differences on translating foreign operations | 362 | 1,301 | (192) |
Balance at end of year | ¥ 9,866 | ¥ 8,336 | ¥ 5,506 |
Other Financial Assets - Summar
Other Financial Assets - Summary of Other Financial Assets (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of financial assets [line items] | ||
Other financial assets | ¥ 1,118,962 | ¥ 1,037,397 |
Current assets | 263,892 | 217,743 |
Non-current assets | 855,070 | 819,654 |
Financial assets measured at amortized cost [member] | Receivables other than trade receivables and receivables from financial services [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 164,503 | 166,936 |
Financial assets measured at amortized cost [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 85,235 | 79,176 |
Financial assets measured at amortized cost [member] | Guaranty deposits [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 12,689 | 11,499 |
Financial assets measured at amortized cost [member] | Restricted cash [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 65,723 | 53,290 |
Financial assets measured at amortized cost [member] | Other [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 4,167 | 4,352 |
Financial assets measured at amortized cost [member] | Allowance for impairment losses [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | (2,988) | (3,212) |
Financial assets measured at fair value through other comprehensive income [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 26,555 | 19,984 |
Financial assets measured at fair value through other comprehensive income [member] | Equity securities [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 475,138 | 468,783 |
Financial assets measured at fair value through profit or loss [member] | Derivatives [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | 185,968 | 134,338 |
Financial assets measured at fair value through profit or loss [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Other financial assets | ¥ 101,972 | ¥ 102,251 |
Other Financial Assets - Summ_2
Other Financial Assets - Summary of Changes in Allowance for Impairment Losses (Detail) - Other financial assets [member] - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | |||
Balance at beginning of year | ¥ 3,212 | ¥ 3,358 | ¥ 3,364 |
Remeasurement | 232 | 42 | 792 |
Write-offs | (461) | (191) | (805) |
Exchange differences on translating foreign operations | 5 | 3 | 7 |
Balance at end of year | ¥ 2,988 | ¥ 3,212 | ¥ 3,358 |
Other Financial Assets - Major
Other Financial Assets - Major Securities Included in Equity Securities Designated as Financial Assets Measured at Fair Value Through Other Comprehensive Income (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Contemporary Amperex Technology Co., Ltd. [member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | ¥ 181,366 | ¥ 226,938 |
GM Cruise Holdings LLC [member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | 115,556 | 105,916 |
Stanley Electric Co., Ltd. [member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | 49,051 | 21,463 |
Mitsubishi UFJ Financial Group, Inc. [member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | 12,296 | 11,026 |
SES AI Corporation [member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | 8,307 | |
Tokio Marine Holdings, Inc. [member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | 8,349 | ¥ 7,789 |
Chubb Limited [Member] | ||
Disclosure of Doubtful Accounts for Other Financial Assets [line items] | ||
Financial assets measured at fair value through other comprehensive income | ¥ 7,998 |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Classes of current inventories [abstract] | ||
Finished goods | ¥ 1,154,926 | ¥ 907,872 |
Work in process | 95,041 | 90,871 |
Raw materials | 917,217 | 919,805 |
Total | ¥ 2,167,184 | ¥ 1,918,548 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Classes of current inventories [abstract] | |||
Write-down of inventories recognized as an expense | ¥ 8,400 | ¥ 11,295 | ¥ 28,420 |
Investments Accounted for Usi_3
Investments Accounted for Using the Equity Method - Equity in Affiliates and Joint Ventures (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Investments accounted for using the equity method [abstract] | |||
Investments accounted for using the equity method, Affiliates | ¥ 499,942 | ¥ 544,563 | |
Investments accounted for using the equity method, Joint ventures | 416,004 | 422,841 | |
Investments accounted for using the equity method, Total | 915,946 | 967,404 | ¥ 891,002 |
Honda's equity of undistributed earnings, Affiliates | 87,284 | 177,231 | |
Honda's equity of undistributed earnings, Joint ventures | 259,675 | 279,288 | |
Honda's equity of undistributed earnings, Total | ¥ 346,959 | ¥ 456,519 |
Investments Accounted for Usi_4
Investments Accounted for Using the Equity Method - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Jan. 01, 2021 | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of investments accounted for using equity method [line items] | ||||
Proportion of ownership interest in joint venture | 50% | |||
Share of profit of investments accounted for using the equity method [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Impairment loss | ¥ 68,545 | |||
Investments accounted for using equity method [member] | Target Companies [member] | Automobile business [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Reversal of impairment losses | ¥ 0 | ¥ 0 | ¥ 56,849 | |
Investments accounted for using equity method [member] | Hitachi Astemo Ltd [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Percentage Voting Interest | 33.40% |
Investments Accounted for Usi_5
Investments Accounted for Using the Equity Method - Share of Comprehensive Income of Affiliates and Joint Ventures (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of investments accounted for using equity method [line items] | |||
Profit for the year | ¥ 117,445 | ¥ 202,512 | ¥ 272,734 |
Other comprehensive income | 30,721 | 79,233 | 32,260 |
Comprehensive income for the year | 148,166 | 281,745 | 304,994 |
Affiliates [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Profit for the year | (81,504) | (17,844) | 53,511 |
Other comprehensive income | 25,920 | 26,673 | (1,197) |
Comprehensive income for the year | (55,584) | 8,829 | 52,314 |
Joint ventures [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Profit for the year | 198,949 | 220,356 | 219,223 |
Other comprehensive income | 4,801 | 52,560 | 33,457 |
Comprehensive income for the year | ¥ 203,750 | ¥ 272,916 | ¥ 252,680 |
Investments Accounted for Usi_6
Investments Accounted for Using the Equity Method - Summarized Consolidated Financial Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | ¥ 9,578,348 | ¥ 8,841,425 | ||
Non-current assets | 15,091,719 | 15,131,728 | ||
Total assets | 24,670,067 | 23,973,153 | ¥ 21,921,030 | |
Current liabilities | 6,652,124 | 6,004,399 | ||
Non-current liabilities | 6,515,652 | 7,196,208 | ||
Total liabilities | 13,167,776 | 13,200,607 | ||
Total equity | 11,502,291 | 10,772,546 | 9,372,839 | ¥ 8,286,023 |
Cash and cash equivalents included in current assets | 3,803,014 | 3,674,931 | 2,758,020 | ¥ 2,672,353 |
Sales revenue | 16,907,725 | 14,552,696 | 13,170,519 | |
Depreciation and amortization | 1,596,876 | 1,476,908 | 1,425,118 | |
Income tax expense | 162,256 | 309,489 | 218,609 | |
Profit for the year | 717,309 | 760,701 | 695,444 | |
Other comprehensive income | 438,092 | 934,952 | 577,179 | |
Comprehensive income for the year | 1,155,401 | 1,695,653 | 1,272,623 | |
Honda's share of comprehensive income for the year | 148,166 | 281,745 | 304,994 | |
Dongfeng Honda Automobile Co Ltd [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 615,524 | 747,397 | ||
Non-current assets | 279,691 | 252,219 | ||
Total assets | 895,215 | 999,616 | ||
Current liabilities | 520,257 | 610,379 | ||
Non-current liabilities | 31,680 | 34,182 | ||
Total liabilities | 551,937 | 644,561 | ||
Total equity | 343,278 | 355,055 | ||
Carrying amount of its interest in the joint venture | 171,003 | 176,830 | ||
Cash and cash equivalents included in current assets | 99,862 | 301,839 | ||
Financial liabilities (excluding trade payables and provisions) included in current liabilities | 6,803 | 6,168 | ||
Sales revenue | 1,777,882 | 1,994,534 | 2,201,051 | |
Interest income | 8,441 | 10,653 | 9,412 | |
Depreciation and amortization | 28,052 | 25,996 | 23,055 | |
Income tax expense | 52,826 | 60,868 | 65,102 | |
Profit for the year | 157,914 | 182,989 | 197,217 | |
Other comprehensive income | 3,256 | 44,812 | 25,462 | |
Comprehensive income for the year | 161,170 | 227,801 | 222,679 | |
Honda's share of comprehensive income for the year | 80,652 | 114,508 | 111,393 | |
Dividend from the joint venture to Honda | 86,506 | 79,191 | 102,767 | |
Dongfeng Honda Automobile Co Ltd [member] | Equity attributable to owners of the parent [Member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Total equity | 171,639 | 177,527 | ||
Comprehensive income for the year | 80,585 | 113,901 | 111,340 | |
Dongfeng Honda Automobile Co Ltd [member] | Equity method adjustments [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Total equity | (636) | (697) | ||
Comprehensive income for the year | ¥ 67 | ¥ 607 | ¥ 53 |
Investments Accounted for Usi_7
Investments Accounted for Using the Equity Method - Combined Financial Information of Affiliates and Joint Ventures (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | ¥ 9,578,348 | ¥ 8,841,425 | ||
Non-current assets | 15,091,719 | 15,131,728 | ||
Total assets | 24,670,067 | 23,973,153 | ¥ 21,921,030 | |
Current liabilities | 6,652,124 | 6,004,399 | ||
Non-current liabilities | 6,515,652 | 7,196,208 | ||
Total liabilities | 13,167,776 | 13,200,607 | ||
Total equity | 11,502,291 | 10,772,546 | 9,372,839 | ¥ 8,286,023 |
Sales revenue | 16,907,725 | 14,552,696 | 13,170,519 | |
Profit for the year | 717,309 | 760,701 | 695,444 | |
Affiliates [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 1,828,866 | 1,621,051 | ||
Non-current assets | 2,100,223 | 2,082,080 | ||
Total assets | 3,929,089 | 3,703,131 | ||
Current liabilities | 1,239,684 | 1,043,325 | ||
Non-current liabilities | 542,804 | 589,376 | ||
Total liabilities | 1,782,488 | 1,632,701 | ||
Total equity | 2,146,601 | 2,070,430 | ||
Sales revenue | 3,999,462 | 3,301,032 | 2,062,611 | |
Profit for the year | (33,265) | 81,398 | 5,988 | |
Affiliates [member] | Motorcycle business [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 64,051 | 64,324 | ||
Non-current assets | 25,654 | 28,330 | ||
Total assets | 89,705 | 92,654 | ||
Current liabilities | 29,887 | 25,819 | ||
Non-current liabilities | 3,109 | 5,003 | ||
Total liabilities | 32,996 | 30,822 | ||
Total equity | 56,709 | 61,832 | ||
Sales revenue | 189,332 | 173,696 | 122,605 | |
Profit for the year | 10,038 | 7,233 | 2,552 | |
Affiliates [member] | Automobile business [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 1,746,374 | 1,542,414 | ||
Non-current assets | 2,050,459 | 2,030,822 | ||
Total assets | 3,796,833 | 3,573,236 | ||
Current liabilities | 1,205,478 | 1,013,738 | ||
Non-current liabilities | 539,040 | 583,308 | ||
Total liabilities | 1,744,518 | 1,597,046 | ||
Total equity | 2,052,315 | 1,976,190 | ||
Sales revenue | 3,800,943 | 3,120,190 | 1,933,675 | |
Profit for the year | (45,204) | 73,169 | 2,593 | |
Affiliates [member] | Power products and other businesses | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 18,441 | 14,313 | ||
Non-current assets | 24,110 | 22,928 | ||
Total assets | 42,551 | 37,241 | ||
Current liabilities | 4,319 | 3,768 | ||
Non-current liabilities | 655 | 1,065 | ||
Total liabilities | 4,974 | 4,833 | ||
Total equity | 37,577 | 32,408 | ||
Sales revenue | 9,187 | 7,146 | 6,331 | |
Profit for the year | 1,901 | 996 | 843 | |
Joint ventures [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 1,921,276 | 2,088,314 | ||
Non-current assets | 679,875 | 610,887 | ||
Total assets | 2,601,151 | 2,699,201 | ||
Current liabilities | 1,674,446 | 1,742,542 | ||
Non-current liabilities | 99,592 | 89,109 | ||
Total liabilities | 1,774,038 | 1,831,651 | ||
Total equity | 827,113 | 867,550 | ||
Sales revenue | 5,437,401 | 5,428,098 | 5,386,874 | |
Profit for the year | 399,664 | 438,912 | 436,377 | |
Joint ventures [member] | Motorcycle business [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 337,603 | 272,962 | ||
Non-current assets | 134,567 | 130,271 | ||
Total assets | 472,170 | 403,233 | ||
Current liabilities | 275,607 | 227,215 | ||
Non-current liabilities | 23,272 | 17,769 | ||
Total liabilities | 298,879 | 244,984 | ||
Total equity | 173,291 | 158,249 | ||
Sales revenue | 1,071,031 | 811,764 | 543,504 | |
Profit for the year | 93,766 | 62,907 | 33,115 | |
Joint ventures [member] | Automobile business [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 1,579,996 | 1,810,581 | ||
Non-current assets | 544,319 | 479,707 | ||
Total assets | 2,124,315 | 2,290,288 | ||
Current liabilities | 1,397,048 | 1,513,623 | ||
Non-current liabilities | 74,136 | 70,675 | ||
Total liabilities | 1,471,184 | 1,584,298 | ||
Total equity | 653,131 | 705,990 | ||
Sales revenue | 4,360,348 | 4,612,394 | 4,839,927 | |
Profit for the year | 304,119 | 375,642 | 403,088 | |
Joint ventures [member] | Power products and other businesses | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Current assets | 3,677 | 4,771 | ||
Non-current assets | 989 | 909 | ||
Total assets | 4,666 | 5,680 | ||
Current liabilities | 1,791 | 1,704 | ||
Non-current liabilities | 2,184 | 665 | ||
Total liabilities | 3,975 | 2,369 | ||
Total equity | 691 | 3,311 | ||
Sales revenue | 6,022 | 3,940 | 3,443 | |
Profit for the year | ¥ 1,779 | ¥ 363 | ¥ 174 |
Equipment on Operating Leases -
Equipment on Operating Leases - Changes in Cost, Accumulated Depreciation and Impairment Losses, and the Carrying Amounts of Equipment on Operating Leases (Detail) - Equipment on operating leases [member] - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | ¥ 5,159,129 | |
Ending balance | 4,726,292 | ¥ 5,159,129 |
Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 6,667,137 | 6,302,709 |
Additions | 1,543,448 | 2,026,098 |
Sales or disposal | (2,357,684) | (2,171,117) |
Exchange differences on translating foreign operations | 414,052 | 509,447 |
Other | ||
Ending balance | 6,266,953 | 6,667,137 |
Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (1,508,008) | (1,382,793) |
Depreciation | (904,778) | (879,196) |
Sales or disposal | 955,122 | 856,835 |
Exchange differences on translating foreign operations | (77,740) | (100,982) |
Other | (5,257) | (1,872) |
Ending balance | ¥ (1,540,661) | ¥ (1,508,008) |
Equipment on Operating Leases_2
Equipment on Operating Leases - Future Minimum Lease Payments Expected to be Received under Non-cancellable Operating Leases to be Received (Detail) - Equipment on operating leases [member] - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | ¥ 1,531,178 | ¥ 1,752,449 |
Within 1 year [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | 737,110 | 824,769 |
Between 1 and 2 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | 458,830 | 574,536 |
Between 2 and 3 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | 220,722 | 240,437 |
Between 3 and 4 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | 78,727 | 84,911 |
Between 4 and 5 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | 25,641 | 27,796 |
Later than 5 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments expected to be received under non-cancelable operating leases | ¥ 10,148 |
Equipment on Operating Leases_3
Equipment on Operating Leases - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating Lease Income [Abstract] | ||
Operating lease income | ¥ 1,152,964 | ¥ 1,134,898 |
Property Plant and Equipment -
Property Plant and Equipment - Changes in Cost, Accumulated Depreciation and Impairment Losses, and the Carrying Amounts of Property, Plant and Equipment (Detail) - Property, plant and equipment [member] - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | ¥ 3,079,407 | |
Ending balance | 3,168,109 | ¥ 3,079,407 |
Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 9,729,241 | 9,091,944 |
Additions | 578,063 | 366,829 |
Reclassification | ||
Sales or disposal | (387,584) | (313,221) |
Deconsolidation | (109,629) | |
Exchange differences on translating foreign operations | 392,982 | 585,907 |
Other | (9,882) | (2,218) |
Ending balance | 10,193,191 | 9,729,241 |
Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (6,649,834) | (6,070,430) |
Depreciation | (512,501) | (438,269) |
Sales or disposal | 352,915 | 275,951 |
Deconsolidation | 105,589 | |
Exchange differences on translating foreign operations | (294,357) | (413,586) |
Other | (26,894) | (3,500) |
Ending balance | (7,025,082) | (6,649,834) |
Land [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 622,553 | |
Ending balance | 630,694 | 622,553 |
Land [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 645,472 | 628,724 |
Additions | 10,366 | 8,473 |
Reclassification | 4,198 | 387 |
Sales or disposal | (9,980) | (4,151) |
Deconsolidation | (3,580) | |
Exchange differences on translating foreign operations | 7,167 | 11,585 |
Other | 275 | 454 |
Ending balance | 653,918 | 645,472 |
Land [member] | Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (22,919) | (16,609) |
Depreciation | (6,025) | (7,087) |
Sales or disposal | 6,090 | 1,403 |
Deconsolidation | 2,580 | |
Exchange differences on translating foreign operations | (87) | (235) |
Other | (2,863) | (391) |
Ending balance | (23,224) | (22,919) |
Buildings and structures [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,065,064 | |
Ending balance | 1,064,033 | 1,065,064 |
Buildings and structures [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 2,698,266 | 2,558,905 |
Additions | 35,335 | 26,268 |
Reclassification | 47,021 | 28,766 |
Sales or disposal | (80,024) | (33,722) |
Deconsolidation | (19,932) | |
Exchange differences on translating foreign operations | 84,744 | 123,536 |
Other | (6,556) | (5,487) |
Ending balance | 2,758,854 | 2,698,266 |
Buildings and structures [member] | Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (1,633,202) | (1,496,313) |
Depreciation | (96,136) | (88,928) |
Sales or disposal | 72,290 | 22,920 |
Deconsolidation | 18,743 | |
Exchange differences on translating foreign operations | (48,748) | (68,557) |
Other | (7,768) | (2,324) |
Ending balance | (1,694,821) | (1,633,202) |
Machinery and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,155,219 | |
Ending balance | 1,309,502 | 1,155,219 |
Machinery and equipment [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 6,147,929 | 5,687,117 |
Additions | 87,630 | 102,835 |
Reclassification | 476,942 | 199,242 |
Sales or disposal | (297,580) | (275,348) |
Deconsolidation | (82,733) | |
Exchange differences on translating foreign operations | 285,024 | 429,662 |
Other | (1,572) | 4,421 |
Ending balance | 6,615,640 | 6,147,929 |
Machinery and equipment [member] | Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (4,992,710) | (4,555,420) |
Depreciation | (410,340) | (342,254) |
Sales or disposal | 274,535 | 251,628 |
Deconsolidation | 80,882 | |
Exchange differences on translating foreign operations | (245,648) | (344,775) |
Other | (12,857) | (1,889) |
Ending balance | (5,306,138) | (4,992,710) |
Construction in progress [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 236,571 | |
Ending balance | 163,880 | 236,571 |
Construction in progress [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 237,574 | 217,198 |
Additions | 444,732 | 229,253 |
Reclassification | (528,161) | (228,395) |
Sales or disposal | ||
Deconsolidation | (3,384) | |
Exchange differences on translating foreign operations | 16,047 | 21,124 |
Other | (2,029) | (1,606) |
Ending balance | 164,779 | 237,574 |
Construction in progress [member] | Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (1,003) | (2,088) |
Depreciation | ||
Sales or disposal | ||
Deconsolidation | 3,384 | |
Exchange differences on translating foreign operations | 126 | (19) |
Other | (3,406) | 1,104 |
Ending balance | ¥ (899) | ¥ (1,003) |
Property, Plant and Equipment -
Property, Plant and Equipment - Summary of Changes in the Carrying Amounts of the Right-of-Use Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure Of Depreciation For The Right Of Use Assets [Line Items] | ||
Opening Balance | ¥ 307,700 | ¥ 295,330 |
Additions | 84,154 | 88,424 |
Depreciation | (73,105) | (68,295) |
Other | (10,404) | (7,759) |
Ending balance | 308,345 | 307,700 |
Land [member] | ||
Disclosure Of Depreciation For The Right Of Use Assets [Line Items] | ||
Opening Balance | 81,637 | 80,543 |
Additions | 10,386 | 8,283 |
Depreciation | (6,025) | (7,087) |
Other | 370 | (102) |
Ending balance | 86,368 | 81,637 |
Buildings and structures [member] | ||
Disclosure Of Depreciation For The Right Of Use Assets [Line Items] | ||
Opening Balance | 130,181 | 135,303 |
Additions | 30,294 | 18,952 |
Depreciation | (15,887) | (15,882) |
Other | (8,529) | (8,192) |
Ending balance | 136,059 | 130,181 |
Machinery and equipment [member] | ||
Disclosure Of Depreciation For The Right Of Use Assets [Line Items] | ||
Opening Balance | 95,882 | 79,484 |
Additions | 43,474 | 61,189 |
Depreciation | (51,193) | (45,326) |
Other | (2,245) | 535 |
Ending balance | ¥ 85,918 | ¥ 95,882 |
Intangible Assets - Changes in
Intangible Assets - Changes in Cost, Accumulated Amortization and Impairment Losses, and Carrying Amounts of Intangible Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | ¥ 849,507 | |
Ending balance | 870,900 | ¥ 849,507 |
Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 1,683,433 | 1,598,743 |
Additions | 47,266 | 19,832 |
Internally developed | 148,899 | 179,485 |
Sales or disposal | (281,963) | (146,791) |
Exchange differences on translating foreign operations | 23,653 | 34,987 |
Other | 3,949 | (2,823) |
Ending balance | 1,625,237 | 1,683,433 |
Accumulated amortization and impairment losses [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (833,926) | (779,980) |
Amortization | (179,597) | (159,443) |
Sales or disposal | 272,746 | 136,515 |
Exchange differences on translating foreign operations | (14,370) | (19,636) |
Other | 810 | (11,382) |
Ending balance | (754,337) | (833,926) |
Capitalized development costs [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 693,649 | |
Ending balance | 668,362 | 693,649 |
Capitalized development costs [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 1,156,290 | 1,108,616 |
Additions | ||
Internally developed | 120,811 | 159,174 |
Sales or disposal | (267,115) | (118,065) |
Exchange differences on translating foreign operations | 4,280 | 6,565 |
Other | ||
Ending balance | 1,014,266 | 1,156,290 |
Capitalized development costs [member] | Accumulated amortization and impairment losses [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (462,641) | (437,213) |
Amortization | (149,659) | (129,384) |
Sales or disposal | 267,115 | 118,065 |
Exchange differences on translating foreign operations | (719) | (1,288) |
Other | (12,821) | |
Ending balance | (345,904) | (462,641) |
Software [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 102,782 | |
Ending balance | 119,787 | 102,782 |
Software [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 462,251 | 429,222 |
Additions | 12,163 | 8,597 |
Internally developed | 28,088 | 20,311 |
Sales or disposal | (5,107) | (15,760) |
Exchange differences on translating foreign operations | 15,870 | 22,365 |
Other | 4,285 | (2,484) |
Ending balance | 517,550 | 462,251 |
Software [member] | Accumulated amortization and impairment losses [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (359,469) | (329,104) |
Amortization | (29,058) | (29,290) |
Sales or disposal | 4,693 | 15,003 |
Exchange differences on translating foreign operations | (12,893) | (17,442) |
Other | (1,036) | 1,364 |
Ending balance | (397,763) | (359,469) |
Other [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 53,076 | |
Ending balance | 82,751 | 53,076 |
Other [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 64,892 | 60,905 |
Additions | 35,103 | 11,235 |
Internally developed | ||
Sales or disposal | (9,741) | (12,966) |
Exchange differences on translating foreign operations | 3,503 | 6,057 |
Other | (336) | (339) |
Ending balance | 93,421 | 64,892 |
Other [member] | Accumulated amortization and impairment losses [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (11,816) | (13,663) |
Amortization | (880) | (769) |
Sales or disposal | 938 | 3,447 |
Exchange differences on translating foreign operations | (758) | (906) |
Other | 1,846 | 75 |
Ending balance | ¥ (10,670) | ¥ (11,816) |
Trade Payables - Summary of Tra
Trade Payables - Summary of Trade Payables (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of financial liabilities [line items] | ||
Trade payables | ¥ 1,426,333 | ¥ 1,236,233 |
Trade accounts and notes payable [Member] | ||
Disclosure of financial liabilities [line items] | ||
Trade payables | 1,181,893 | 1,047,623 |
Other [member] | ||
Disclosure of financial liabilities [line items] | ||
Trade payables | ¥ 244,440 | ¥ 188,610 |
Financing Liabilities - Financi
Financing Liabilities - Financing Liabilities Presented in Current Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Current financing liabilities | ¥ 1,365,775 | ¥ 906,543 |
Reclassification from non-current liabilities (Current portion) | 1,925,420 | 2,211,761 |
Total | 3,291,195 | 3,118,304 |
Commercial paper [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Current financing liabilities | 965,468 | 421,801 |
Loans [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Current financing liabilities | 358,874 | 434,675 |
Asset-backed securities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Current financing liabilities | ¥ 41,433 | ¥ 50,067 |
Financing Liabilities - Weighte
Financing Liabilities - Weighted Average Interest Rates for Financing Liabilities Presented in Current Liabilities (Excluding Reclassification from Non-current Liabilities) (Detail) | Mar. 31, 2023 | Mar. 31, 2022 |
Current borrowings [member] | Weighted average [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Weighted average interest rate | 4.29% | 1.01% |
Financing Liabilities - Finan_2
Financing Liabilities - Financing Liabilities Presented in Non-current Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Non-current financing liabilities | ¥ 6,299,393 | ¥ 7,196,013 |
Reclassification to current liabilities (Current portion) | (1,925,420) | (2,211,761) |
Total | 4,373,973 | 4,984,252 |
Loans [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current financing liabilities | 958,836 | 1,026,769 |
Medium-term notes [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current financing liabilities | 3,359,462 | 3,996,486 |
Corporate bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current financing liabilities | 1,001,187 | 1,035,379 |
Asset-backed securities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current financing liabilities | ¥ 979,908 | ¥ 1,137,379 |
Financing Liabilities - Interes
Financing Liabilities - Interest Rate Range and Payment Due Date for Financing Liabilities Presented in Non-current Liabilities (Including Reclassification to Current Liabilities) (Detail) - Non-current liabilities [member] | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Loans [member] | Bottom of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 0.14% | 0.07% |
Payment due | 2023 | 2022 |
Loans [member] | Top of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 12.90% | 11.75% |
Payment due | 2046 | 2046 |
Medium-term notes [member] | Bottom of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 0.30% | 0.30% |
Payment due | 2023 | 2022 |
Medium-term notes [member] | Top of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 5.88% | 3.63% |
Payment due | 2031 | 2031 |
Corporate bonds [member] | Bottom of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 0.01% | 0.01% |
Payment due | 2023 | 2022 |
Corporate bonds [member] | Top of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 2.97% | 2.97% |
Payment due | 2032 | 2032 |
Asset-backed securities [member] | Bottom of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 0.11% | 0.11% |
Payment due | 2023 | 2022 |
Asset-backed securities [member] | Top of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Interest rate | 5.50% | 3.30% |
Payment due | 2028 | 2025 |
Financing Liabilities - Pledged
Financing Liabilities - Pledged Assets for Financing Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Borrowings [abstract] | ||
Trade receivables | ¥ 20,811 | ¥ 15,298 |
Receivables from financial services | 944,414 | 1,101,778 |
Equipment on operating leases | 133,936 | 142,097 |
Property, plant and equipment | 2,293 | 2,548 |
Total | ¥ 1,101,454 | ¥ 1,261,721 |
Financing Liabilities - The Cha
Financing Liabilities - The Changes in Liabilities Arising from Financing Activities (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Changes in liabilities arising from financing activities, beginning balance | ¥ 8,459,950 | ¥ 8,004,531 | ¥ 7,811,341 | |
Cash flows from financing activities | (1,046,886) | (311,323) | (96,734) | |
Cash flows from operating activities | (8,641) | (1,296) | (5,446) | |
Non-cash changes, Acquisitions | 79,202 | 84,413 | 67,716 | |
Non-cash changes, Changes in foreign currency exchange rates | 494,202 | 614,998 | 280,543 | |
Non-cash changes, Changes in fair value | 85,721 | 67,396 | (38,946) | |
Non-cash changes, Other | (17,146) | 1,231 | (13,943) | |
Changes in liabilities arising from financing activities, ending balance | 8,046,402 | 8,459,950 | 8,004,531 | |
Short-term financing liabilities [member] | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Changes in liabilities arising from financing activities, beginning balance | 906,543 | 1,299,347 | 1,424,667 | |
Cash flows from financing activities | 442,534 | (472,420) | (179,512) | |
Cash flows from operating activities | ||||
Non-cash changes, Acquisitions | ||||
Non-cash changes, Changes in foreign currency exchange rates | 27,055 | 78,863 | 55,337 | |
Non-cash changes, Changes in fair value | ||||
Non-cash changes, Other | (10,357) | 753 | (1,145) | |
Changes in liabilities arising from financing activities, ending balance | 1,365,775 | 906,543 | 1,299,347 | |
Long-term financing liabilities [member] | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Changes in liabilities arising from financing activities, beginning balance | 7,196,013 | 6,421,638 | 6,045,019 | |
Cash flows from financing activities | (1,356,965) | 238,060 | 149,807 | |
Cash flows from operating activities | ||||
Non-cash changes, Acquisitions | ||||
Non-cash changes, Changes in foreign currency exchange rates | 459,754 | 526,822 | 222,565 | |
Non-cash changes, Changes in fair value | ||||
Non-cash changes, Other | 591 | 9,493 | 4,247 | |
Changes in liabilities arising from financing activities, ending balance | 6,299,393 | 7,196,013 | 6,421,638 | |
Lease liabilities [member] | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Changes in liabilities arising from financing activities, beginning balance | 318,758 | 317,429 | 330,040 | |
Cash flows from financing activities | (78,297) | (80,165) | (67,628) | |
Cash flows from operating activities | ||||
Non-cash changes, Acquisitions | 79,202 | 84,413 | 67,716 | |
Non-cash changes, Changes in foreign currency exchange rates | 3,675 | 6,096 | 4,346 | |
Non-cash changes, Changes in fair value | ||||
Non-cash changes, Other | (7,380) | (9,015) | (17,045) | |
Changes in liabilities arising from financing activities, ending balance | 315,958 | 318,758 | 317,429 | |
Derivative financial liabilities (assets) [member] | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Changes in liabilities arising from financing activities, beginning balance | [1] | 38,636 | (33,883) | 11,615 |
Cash flows from financing activities | [1] | (54,158) | 3,202 | 599 |
Cash flows from operating activities | [1] | (8,641) | (1,296) | (5,446) |
Non-cash changes, Acquisitions | [1] | |||
Non-cash changes, Changes in foreign currency exchange rates | [1] | 3,718 | 3,217 | (1,705) |
Non-cash changes, Changes in fair value | [1] | 85,721 | 67,396 | (38,946) |
Non-cash changes, Other | [1] | |||
Changes in liabilities arising from financing activities, ending balance | [1] | ¥ 65,276 | ¥ 38,636 | ¥ (33,883) |
[1]Derivative financial liabilities (assets) are held by the Company and its finance subsidiaries to hedge foreign currency risk for principals and interests payment of long-term financing liabilities. The cash flows related to repayments of principals are included in cash flows from financing activities, while the cash flows related to interest paid are included in cash flows from operating activities. |
Other Financial Liabilities - S
Other Financial Liabilities - Summary of Other Financial Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of financial liabilities [line items] | ||
Other financial liabilities | ¥ 612,846 | ¥ 518,983 |
Current liabilities | 324,110 | 236,900 |
Non-current liabilities | 288,736 | 282,083 |
Other financial liabilities | 612,846 | 518,983 |
Lease liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Other financial liabilities | 315,958 | 318,758 |
Other financial liabilities | 315,958 | 318,758 |
Financial liabilities measured at amortized cost [member] | ||
Disclosure of financial liabilities [line items] | ||
Other financial liabilities | 53,920 | 48,283 |
Other financial liabilities | 53,920 | 48,283 |
Financial liabilities measured at fair value through profit or loss [member] | Derivatives [member] | ||
Disclosure of financial liabilities [line items] | ||
Other financial liabilities | 242,968 | 151,942 |
Other financial liabilities | ¥ 242,968 | ¥ 151,942 |
Provisions - Components of and
Provisions - Components of and Changes in Provisions (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |||
Disclosure of other provisions [line items] | |||||
Beginning balance | ¥ 522,013 | ||||
Provision | 317,616 | ||||
Write-offs | (191,644) | ||||
Reversal | (41,694) | ||||
Exchange differences on translating foreign operations | 26,579 | ||||
Ending balance | 632,870 | ¥ 522,013 | |||
Product warranties [member] | |||||
Disclosure of other provisions [line items] | |||||
Beginning balance | [1] | 419,201 | |||
Provision | 289,850 | [1] | 118,378 | ¥ 272,076 | |
Write-offs | [1] | (160,757) | |||
Reversal | [1] | (33,070) | |||
Exchange differences on translating foreign operations | [1] | 19,875 | |||
Ending balance | [1] | 535,099 | 419,201 | ||
Other [member] | |||||
Disclosure of other provisions [line items] | |||||
Beginning balance | 102,812 | ||||
Provision | 27,766 | ||||
Write-offs | (30,887) | ||||
Reversal | (8,624) | ||||
Exchange differences on translating foreign operations | 6,704 | ||||
Ending balance | ¥ 97,771 | ¥ 102,812 | |||
[1]Honda recognizes provisions for product warranties to cover future product warranty expenses. Honda recognizes costs for general warranties on products Honda sells and for specific warranty programs, including product recalls. Honda recognizes general estimated warranty costs at the time products are sold to customers. Honda also recognizes specific estimated warranty program costs when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. These provisions are estimated based on historical warranty claim experience with consideration given to the expected level of future warranty costs, including current sales trends, the expected number of units to be affected and the estimated average repair cost per unit for warranty claims. Provisions for product warranties are utilized for expenditures based on the demand from customers and dealers. |
Provisions - Current Liabilitie
Provisions - Current Liabilities and Non-current Liabilities of Provisions (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of other provisions [abstract] | ||
Current liabilities | ¥ 362,701 | ¥ 268,388 |
Non-current liabilities | 270,169 | 253,625 |
Total | ¥ 632,870 | ¥ 522,013 |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2023 JPY (¥) | |
Japanese plans [member] | |
Disclosure of defined benefit plans [line items] | |
Contribiution in pension plan | ¥ 20,000 |
Foreign plans [member] | |
Disclosure of defined benefit plans [line items] | |
Contribiution in pension plan | ¥ 24,301 |
Employee Benefits - Changes in
Employee Benefits - Changes in Present Value of Defined Benefit Obligations and Fair Value of Plan Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Remeasurements: | ||
Net defined benefit liabilities (assets) | ¥ (180,700) | ¥ (216,604) |
Japanese plans [member] | ||
Remeasurements: | ||
Effects of asset ceiling | ||
Net defined benefit liabilities (assets) | (76,028) | (93,031) |
Foreign plans [member] | ||
Remeasurements: | ||
Effects of asset ceiling | 62,516 | 35,321 |
Net defined benefit liabilities (assets) | 108,502 | 109,797 |
Present value of defined benefit obligations [member] | Japanese plans [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Balance at beginning of year | 1,262,245 | 1,305,054 |
Current service cost | 30,632 | 35,045 |
Past service cost | ||
Interest cost | 9,732 | 8,360 |
Plan participants' contributions | ||
Remeasurements: | ||
Changes in demographic assumptions | (3,387) | 6,346 |
Changes in financial assumptions | (71,936) | (25,500) |
Other | 12,291 | 5,502 |
Benefits paid | (63,085) | (72,562) |
Deconsolidation | (15,765) | |
Exchange differences on translating foreign operations | ||
Balance at end of year | 1,160,727 | 1,262,245 |
Present value of defined benefit obligations [member] | Foreign plans [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Balance at beginning of year | 1,087,526 | 1,104,894 |
Current service cost | 22,555 | 22,351 |
Past service cost | ||
Interest cost | 40,151 | 29,822 |
Plan participants' contributions | 4,165 | 3,657 |
Remeasurements: | ||
Changes in demographic assumptions | (317) | (777) |
Changes in financial assumptions | (220,863) | (85,754) |
Other | 38,427 | (3,603) |
Benefits paid | (116,150) | (82,561) |
Deconsolidation | ||
Exchange differences on translating foreign operations | 70,467 | 99,497 |
Balance at end of year | 925,961 | 1,087,526 |
Fair value of plan assets [member] | Japanese plans [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Balance at beginning of year | 1,355,276 | 1,365,509 |
Interest income | 10,589 | 8,865 |
Actual return on plan assets, excluding interest income | (76,690) | 21,172 |
Employer contributions | 20,409 | 20,484 |
Plan participants' contributions | ||
Remeasurements: | ||
Benefits paid | (58,544) | (60,754) |
Deconsolidation | (14,285) | |
Exchange differences on translating foreign operations | ||
Balance at end of year | 1,236,755 | 1,355,276 |
Fair value of plan assets [member] | Foreign plans [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Balance at beginning of year | 1,013,050 | 910,436 |
Interest income | 37,211 | 24,981 |
Actual return on plan assets, excluding interest income | (137,659) | 50,833 |
Employer contributions | 21,178 | 17,404 |
Plan participants' contributions | 4,165 | 3,657 |
Remeasurements: | ||
Benefits paid | (116,150) | (82,561) |
Deconsolidation | ||
Exchange differences on translating foreign operations | 58,180 | 88,300 |
Balance at end of year | ¥ 879,975 | ¥ 1,013,050 |
Employee Benefits - Changes i_2
Employee Benefits - Changes in Present Value of Defined Benefit Obligations and Fair Value of Plan Assets (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liabilities (assets) | ¥ 180,700 | ¥ 216,604 |
Employee Benefits - Fair Value
Employee Benefits - Fair Value of Japanese and Foreign Pension Plan Assets By Asset Category (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Japanese plans [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | ¥ 20,230 | ¥ 56,192 |
General accounts | 40,942 | 40,008 |
Separate accounts | 23,130 | 22,317 |
Other | 10,672 | (44,915) |
Total | 1,236,755 | 1,355,276 |
Japanese plans [member] | Real estate funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 398 | 402 |
Japanese plans [member] | Private equity funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Japanese plans [member] | Hedge funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 117,422 | 145,474 |
Japanese plans [member] | Commingled and other mutual funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 153,171 | 130,878 |
Japanese plans [member] | Japan [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 22,388 | 32,349 |
Debt securities | 67,278 | 65,388 |
Japanese plans [member] | United States [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 195,611 | 260,482 |
Debt securities | 171,690 | 153,289 |
Japanese plans [member] | Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 172,074 | 248,419 |
Debt securities | 241,749 | 244,993 |
Japanese plans [member] | Quoted, Market price in active market [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | 20,230 | 56,192 |
General accounts | ||
Separate accounts | ||
Other | 54 | 67 |
Total | 665,590 | 840,633 |
Japanese plans [member] | Quoted, Market price in active market [member] | Real estate funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Japanese plans [member] | Quoted, Market price in active market [member] | Private equity funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Japanese plans [member] | Quoted, Market price in active market [member] | Hedge funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Japanese plans [member] | Quoted, Market price in active market [member] | Commingled and other mutual funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 1,419 | 1,798 |
Japanese plans [member] | Quoted, Market price in active market [member] | Japan [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 22,388 | 32,349 |
Debt securities | 66,416 | 65,388 |
Japanese plans [member] | Quoted, Market price in active market [member] | United States [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 195,611 | 260,424 |
Debt securities | 35,338 | 2,795 |
Japanese plans [member] | Quoted, Market price in active market [member] | Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 171,921 | 248,143 |
Debt securities | 152,213 | 173,477 |
Japanese plans [member] | Unquoted, Market price in active market [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | ||
General accounts | 40,942 | 40,008 |
Separate accounts | 23,130 | 22,317 |
Other | 10,618 | (44,982) |
Total | 571,165 | 514,643 |
Japanese plans [member] | Unquoted, Market price in active market [member] | Real estate funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 398 | 402 |
Japanese plans [member] | Unquoted, Market price in active market [member] | Private equity funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Japanese plans [member] | Unquoted, Market price in active market [member] | Hedge funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 117,422 | 145,474 |
Japanese plans [member] | Unquoted, Market price in active market [member] | Commingled and other mutual funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 151,752 | 129,080 |
Japanese plans [member] | Unquoted, Market price in active market [member] | Japan [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | ||
Debt securities | 862 | |
Japanese plans [member] | Unquoted, Market price in active market [member] | United States [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 58 | |
Debt securities | 136,352 | 150,494 |
Japanese plans [member] | Unquoted, Market price in active market [member] | Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 153 | 276 |
Debt securities | 89,536 | 71,516 |
Foreign plans [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | 6,929 | 15,147 |
General accounts | ||
Separate accounts | ||
Other | 9,416 | 32,158 |
Total | 879,975 | 1,013,050 |
Foreign plans [member] | Real estate funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 73,017 | 87,540 |
Foreign plans [member] | Private equity funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 162,414 | 191,196 |
Foreign plans [member] | Hedge funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 26,061 | 34,341 |
Foreign plans [member] | Commingled and other mutual funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 454,352 | 430,400 |
Foreign plans [member] | Japan [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 398 | 9,483 |
Debt securities | 768 | 575 |
Foreign plans [member] | United States [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 13,794 | 72,349 |
Debt securities | 114,757 | 81,155 |
Foreign plans [member] | Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 7,413 | 51,606 |
Debt securities | 10,656 | 7,100 |
Foreign plans [member] | Quoted, Market price in active market [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | 6,929 | 15,147 |
General accounts | ||
Separate accounts | ||
Other | 263 | 61 |
Total | 28,797 | 153,378 |
Foreign plans [member] | Quoted, Market price in active market [member] | Real estate funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Foreign plans [member] | Quoted, Market price in active market [member] | Private equity funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Foreign plans [member] | Quoted, Market price in active market [member] | Hedge funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | ||
Foreign plans [member] | Quoted, Market price in active market [member] | Commingled and other mutual funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 4,732 | |
Foreign plans [member] | Quoted, Market price in active market [member] | Japan [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 398 | 9,483 |
Debt securities | ||
Foreign plans [member] | Quoted, Market price in active market [member] | United States [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 13,794 | 72,349 |
Debt securities | ||
Foreign plans [member] | Quoted, Market price in active market [member] | Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | 7,413 | 51,606 |
Debt securities | ||
Foreign plans [member] | Unquoted, Market price in active market [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | ||
General accounts | ||
Separate accounts | ||
Other | 9,153 | 32,097 |
Total | 851,178 | 859,672 |
Foreign plans [member] | Unquoted, Market price in active market [member] | Real estate funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 73,017 | 87,540 |
Foreign plans [member] | Unquoted, Market price in active market [member] | Private equity funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 162,414 | 191,196 |
Foreign plans [member] | Unquoted, Market price in active market [member] | Hedge funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 26,061 | 34,341 |
Foreign plans [member] | Unquoted, Market price in active market [member] | Commingled and other mutual funds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Pooled funds | 454,352 | 425,668 |
Foreign plans [member] | Unquoted, Market price in active market [member] | Japan [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | ||
Debt securities | 768 | 575 |
Foreign plans [member] | Unquoted, Market price in active market [member] | United States [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | ||
Debt securities | 114,757 | 81,155 |
Foreign plans [member] | Unquoted, Market price in active market [member] | Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equity securities | ||
Debt securities | ¥ 10,656 | ¥ 7,100 |
Employee Benefits - Significant
Employee Benefits - Significant Actuarial Assumptions Used to Determine Present Value of Defined Benefit Obligations (Detail) | Mar. 31, 2023 | Mar. 31, 2022 |
Japanese plans [member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 1.20% | 0.80% |
Rate of salary increase | 1.60% | 1.50% |
Foreign plans [member] | Bottom of range [member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 4.80% | 2.80% |
Rate of salary increase | 2% | 2% |
Foreign plans [member] | Top of range [member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 5.10% | 4% |
Rate of salary increase | 4.40% | 3.60% |
Employee Benefits - Effects on
Employee Benefits - Effects on Defined Benefit Obligations Due to Increase or Decrease in Discount Rate (Detail) - Discount rates [member] - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Japanese plans [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Effects on defined benefit obligations from a decrease in the discount rate | ¥ 80,821 | ¥ 93,079 |
Effects on defined benefit obligations from a increase in the discount rate | 72,450 | 83,077 |
Foreign plans [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Effects on defined benefit obligations from a decrease in the discount rate | 57,236 | 86,569 |
Effects on defined benefit obligations from a increase in the discount rate | ¥ 50,643 | ¥ 78,153 |
Employee Benefits - Effects o_2
Employee Benefits - Effects on Defined Benefit Obligations Due to Increase or Decrease in Discount Rate (Parenthetical) (Detail) - Discount rates [member] | Mar. 31, 2023 |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Percentage of decrease in the discount rate | 0.50% |
Percentage of increase in the discount rate | 0.50% |
Employee Benefits - Weighted Av
Employee Benefits - Weighted Average Duration of Defined Benefit Obligations (Detail) | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Japanese plans [member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligations | 13 years | 14 years |
Foreign plans [member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligations | 11 years | 14 years |
Employee Benefits - Personnel E
Employee Benefits - Personnel Expenses Included in Consolidated Statements of Income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of defined benefit plans [abstract] | |||
Personnel expenses | ¥ 1,635,515 | ¥ 1,502,364 | ¥ 1,470,748 |
Equity - Financial Liabilities
Equity - Financial Liabilities and Equity (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 |
Equity and liabilities [abstract] | ||||
Financing liabilities | ¥ 7,665,168 | ¥ 8,102,556 | ||
Equity | ¥ 11,502,291 | ¥ 10,772,546 | ¥ 9,372,839 | ¥ 8,286,023 |
Equity - Total Number of Shares
Equity - Total Number of Shares Authorized and Issued (Detail) - shares | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Total number of authorized shares | |||
Common shares, no par value | 7,086,000,000 | 7,086,000,000 | 7,086,000,000 |
Total number of issued shares | |||
Balance at beginning of year | 1,811,428,430 | 1,811,428,430 | 1,811,428,430 |
Changes during the year | |||
Balance at end of year | 1,811,428,430 | 1,811,428,430 | 1,811,428,430 |
Equity - Additional Information
Equity - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of classes of share capital [line items] | |
Percentage of cash dividends from retained earnings shall be appropriated as a capital reserve | 10% |
Percentage of capital reserve and legal reserve to common stock | 25% |
Bottom of range [member] | |
Disclosure of classes of share capital [line items] | |
Minimum percentage of paid-in amount or proceeds of issuance of shares allowed to be incorporated in common stock | 50% |
Equity - Total Number of Treasu
Equity - Total Number of Treasury Stock Held (Detail) - shares | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 |
Disclosure of classes of share capital [line items] | ||||
Common shares | 1,811,428,430 | 1,811,428,430 | 1,811,428,430 | 1,811,428,430 |
Treasury stock [member] | ||||
Disclosure of classes of share capital [line items] | ||||
Common shares | 147,087,841 | 100,828,074 | 84,773,162 |
Equity - Changes in Other Compo
Equity - Changes in Other Components of Equity (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of reserves within equity [line items] | |||
Beginning balance | ¥ 10,772,546 | ¥ 9,372,839 | ¥ 8,286,023 |
Adjustment during the year | 438,092 | 934,952 | 577,179 |
Ending balance | 11,502,291 | 10,772,546 | 9,372,839 |
Remeasurements of defined benefit plans [member] | |||
Disclosure of reserves within equity [line items] | |||
Beginning balance | |||
Adjustment during the year | 3,304 | 117,489 | 239,801 |
Reclassification to retained earnings | (3,304) | (117,489) | (239,801) |
Ending balance | |||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income [member] | |||
Disclosure of reserves within equity [line items] | |||
Beginning balance | 145,720 | 88,570 | 24,876 |
Adjustment during the year | (19,030) | 58,863 | 69,876 |
Reclassification to retained earnings | 250 | (1,713) | (6,182) |
Ending balance | 126,940 | 145,720 | 88,570 |
Exchange differences on translating foreign operations [member] | |||
Disclosure of reserves within equity [line items] | |||
Beginning balance | 844,718 | 108,140 | (139,515) |
Adjustment during the year | 445,739 | 736,578 | 247,655 |
Reclassification to retained earnings | |||
Ending balance | 1,290,457 | 844,718 | 108,140 |
Other components of equity [member] | |||
Disclosure of reserves within equity [line items] | |||
Beginning balance | 990,438 | 196,710 | (114,639) |
Adjustment during the year | 430,013 | 912,930 | 557,332 |
Reclassification to retained earnings | (3,054) | (119,202) | (245,983) |
Ending balance | ¥ 1,417,397 | ¥ 990,438 | ¥ 196,710 |
Equity - Each Component of Othe
Equity - Each Component of Other Comprehensive Income and Related Tax Effect Including Non-controlling Interests (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Items that will not be reclassified to profit or loss, Before-tax: | |||
Remeasurements of defined benefit plans, Net changes, Before-tax | ¥ 7,192 | ¥ 153,785 | ¥ 327,604 |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Net changes, Before-tax | (26,279) | 76,909 | 93,450 |
Share of other comprehensive income of investments accounted for using the equity method, Net changes, Before-tax | 294 | 1,862 | 5,186 |
Items that may be reclassified subsequently to profit or loss, Before-tax: | |||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Amount incurred during the year, Before-tax | (444) | (915) | (107) |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Reclassification to profit or loss, Before-tax | (166) | 39 | 82 |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Net changes, Before-tax | (610) | (876) | (25) |
Exchange differences on translating foreign operations, Amount incurred during the year, Before-tax | 427,650 | 680,724 | 239,097 |
Exchange differences on translating foreign operations, Reclassification to profit or loss, Before-tax | (4,690) | ||
Exchange differences on translating foreign operations, Net changes, Before-tax | 422,960 | 680,724 | 239,097 |
Share of other comprehensive income of investments accounted for using the equity method, Amount incurred during the year, Before-tax | 32,436 | 79,484 | 27,046 |
Share of other comprehensive income of investments accounted for using the equity method, Reclassification to profit or loss, Before-tax | (102) | (65) | (73) |
Share of other comprehensive income of investments accounted for using the equity method, Net changes, Before-tax | 32,334 | 79,419 | 26,973 |
Total other comprehensive income, Before-tax | 435,891 | 991,823 | 692,285 |
Items that will not be reclassified to profit or loss, Tax benefit (expense): | |||
Remeasurements of defined benefit plans, Net changes, Tax benefit (expense) | (3,842) | (36,743) | (89,342) |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Net changes, Tax benefit (expense) | 7,814 | (18,274) | (25,847) |
Share of other comprehensive income of investments accounted for using the equity method, Net changes, Tax benefit (expense) | (2) | (76) | (276) |
Items that may be reclassified subsequently to profit or loss, Tax benefit (expense): | |||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Amount incurred during the year, Tax benefit (expense) | 98 | 203 | 1 |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Reclassification to profit or loss, Tax benefit (expense) | 38 | (9) | (19) |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Net changes, Tax benefit (expense) | 136 | 194 | (18) |
Exchange differences on translating foreign operations, Amount incurred during the year, Tax benefit (expense) | (1,612) | ||
Exchange differences on translating foreign operations, Reclassification to profit or loss, Tax benefit (expense) | 1,612 | ||
Exchange differences on translating foreign operations, Net changes, Tax benefit (expense) | |||
Share of other comprehensive income of investments accounted for using the equity method, Amount incurred during the year, Tax benefit (expense) | (1,905) | (1,972) | 377 |
Share of other comprehensive income of investments accounted for using the equity method, Reclassification to profit or loss, Tax benefit (expense) | |||
Share of other comprehensive income of investments accounted for using the equity method, Net changes, Tax benefit (expense) | (1,905) | (1,972) | 377 |
Total other comprehensive income, Tax benefit (expense) | 2,201 | (56,871) | (115,106) |
Items that will not be reclassified to profit or loss, Net-of-tax: | |||
Remeasurements of defined benefit plans, Net changes, Net-of-tax | 3,350 | 117,042 | 238,262 |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Net changes, Net-of-tax | (18,465) | 58,635 | 67,603 |
Share of other comprehensive income of investments accounted for using the equity method, Net changes, Net-of-tax | 292 | 1,786 | 4,910 |
Items that may be reclassified subsequently to profit or loss, Net-of-tax: | |||
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Amount incurred during the year, Net-of-tax | (346) | (712) | (106) |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Reclassification to profit or loss, Net-of-tax | (128) | 30 | 63 |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income, Net changes, Net-of-tax | (474) | (682) | (43) |
Exchange differences on translating foreign operations, Amount incurred during the year, Net-of-tax | 426,038 | 680,724 | 239,097 |
Exchange differences on translating foreign operations, Reclassification to profit or loss, Net-of-tax | (3,078) | ||
Exchange differences on translating foreign operations, Net changes, Net-of-tax | 422,960 | 680,724 | 239,097 |
Share of other comprehensive income of investments accounted for using the equity method, Amount incurred during the year, Net-of-tax | 30,531 | 77,512 | 27,423 |
Share of other comprehensive income of investments accounted for using the equity method, Reclassification to profit or loss, Net-of-tax | (102) | (65) | (73) |
Share of other comprehensive income of investments accounted for using the equity method, Net changes, Net-of-tax | 30,429 | 77,447 | 27,350 |
Total other comprehensive income, net of tax | ¥ 438,092 | ¥ 934,952 | ¥ 577,179 |
Equity - Components of Other Co
Equity - Components of Other Comprehensive Income Included in Non-controlling Interests (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of analysis of other comprehensive income by item [line items] | |||
Remeasurements of defined benefit plans | ¥ 3,350 | ¥ 117,042 | ¥ 238,262 |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income | (18,465) | 58,635 | 67,603 |
Exchange differences on translating foreign operations | 422,960 | 680,724 | 239,097 |
Total | 438,092 | 934,952 | 577,179 |
Non-controlling interests [Member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Remeasurements of defined benefit plans | 341 | 565 | 1,030 |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income | 88 | (136) | 25 |
Exchange differences on translating foreign operations | 7,650 | 21,593 | 18,792 |
Total | ¥ 8,079 | ¥ 22,022 | ¥ 19,847 |
Equity - Dividends from Retaine
Equity - Dividends from Retained Earnings (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | May 11, 2023 | Nov. 09, 2022 | May 13, 2022 | Nov. 05, 2021 | May 14, 2021 | Feb. 09, 2021 | Nov. 06, 2020 | Aug. 05, 2020 | May 12, 2020 |
Dividends 1 [abstract] | |||||||||
Dividend payout, Total amount of dividends (millions of yen) | ¥ 102,219 | ¥ 111,256 | ¥ 95,130 | ¥ 93,272 | ¥ 44,909 | ¥ 32,818 | ¥ 18,999 | ¥ 48,363 | |
Dividend payout, Dividend per share (yen) | ¥ 60 | ¥ 65 | ¥ 55 | ¥ 54 | ¥ 26 | ¥ 19 | ¥ 11 | ¥ 28 | |
Dividend payout, Record date | Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | |
Dividend payout, Effective date | Dec. 05, 2022 | Jun. 06, 2022 | Dec. 01, 2021 | Jun. 07, 2021 | Mar. 08, 2021 | Dec. 02, 2020 | Sep. 04, 2020 | Jun. 03, 2020 | |
Dividends payable, Total amount of dividends (millions of yen) | ¥ 99,915 | ||||||||
Dividends payable, Dividend per share (yen) | ¥ 60 | ||||||||
Dividends payable, Record date | Mar. 31, 2023 | ||||||||
Dividends payable, Effective date | Jun. 06, 2023 |
Sales Revenue - Additional Info
Sales Revenue - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Receivables from contracts with customers: [abstract] | |||
Revenue recognized included in the contract liability at the beginning of the year | ¥ 219,873 | ¥ 199,902 | ¥ 182,339 |
Amortization of assets recognised cost | ¥ 52,193 | ¥ 39,682 | ¥ 33,242 |
Sales Revenue - Summary of Reco
Sales Revenue - Summary of Reconciliation of the Disaggregated Sales Revenue with the Four Reportable Segments (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | ¥ 16,907,725 | ¥ 14,552,696 | ¥ 13,170,519 | |
External customers [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 16,907,725 | 14,552,696 | 13,170,519 | |
External customers [member] | Japan [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 2,409,584 | 2,354,532 | 2,190,797 | |
Operating segments [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 17,123,276 | 14,790,927 | 13,415,264 | |
Operating segments [member] | Motorcycle business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 2,908,983 | 2,185,253 | 1,787,283 | |
Operating segments [member] | Automobile business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 10,781,717 | 9,360,593 | 8,779,349 | |
Operating segments [member] | Financial services business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 2,956,144 | 2,823,323 | 2,506,788 | |
Operating segments [member] | Power product and other businesses [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total | 476,432 | 421,758 | 341,844 | |
Operating segments [member] | External customers [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 15,438,288 | 13,147,538 | 11,838,950 | |
Revenue arising from the other sources | [1] | 1,469,437 | 1,405,158 | 1,331,569 |
Total | 16,907,725 | 14,552,696 | 13,170,519 | |
Operating segments [member] | External customers [member] | Motorcycle business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 2,908,453 | 2,183,176 | 1,784,912 | |
Revenue arising from the other sources | [1] | 530 | 2,077 | 2,371 |
Total | 2,908,983 | 2,185,253 | 1,787,283 | |
Operating segments [member] | External customers [member] | Automobile business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 10,578,391 | 9,130,227 | 8,554,631 | |
Revenue arising from the other sources | [1] | 15,128 | 17,271 | 12,574 |
Total | 10,593,519 | 9,147,498 | 8,567,205 | |
Operating segments [member] | External customers [member] | Financial services business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 1,500,545 | 1,435,298 | 1,178,005 | |
Revenue arising from the other sources | [1] | 1,453,553 | 1,385,369 | 1,316,289 |
Total | 2,954,098 | 2,820,667 | 2,494,294 | |
Operating segments [member] | External customers [member] | Power product and other businesses [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 450,899 | 398,837 | 321,402 | |
Revenue arising from the other sources | [1] | 226 | 441 | 335 |
Total | 451,125 | 399,278 | 321,737 | |
Operating segments [member] | External customers [member] | Japan [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 1,733,266 | 1,668,249 | 1,596,971 | |
Operating segments [member] | External customers [member] | Japan [member] | Motorcycle business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 109,393 | 105,022 | 88,128 | |
Operating segments [member] | External customers [member] | Japan [member] | Automobile business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 1,375,593 | 1,337,860 | 1,321,329 | |
Operating segments [member] | External customers [member] | Japan [member] | Financial services business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 158,653 | 146,185 | 128,265 | |
Operating segments [member] | External customers [member] | Japan [member] | Power product and other businesses [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 89,627 | 79,182 | 59,249 | |
Operating segments [member] | External customers [member] | North America [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 7,816,672 | 6,549,838 | 6,052,533 | |
Operating segments [member] | External customers [member] | North America [member] | Motorcycle business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 306,725 | 230,766 | 197,155 | |
Operating segments [member] | External customers [member] | North America [member] | Automobile business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 5,985,958 | 4,877,900 | 4,671,998 | |
Operating segments [member] | External customers [member] | North America [member] | Financial services business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 1,341,863 | 1,289,076 | 1,049,739 | |
Operating segments [member] | External customers [member] | North America [member] | Power product and other businesses [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 182,126 | 152,096 | 133,641 | |
Operating segments [member] | External customers [member] | Europe [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 677,344 | 600,987 | 500,536 | |
Operating segments [member] | External customers [member] | Europe [member] | Motorcycle business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 250,088 | 202,254 | 146,948 | |
Operating segments [member] | External customers [member] | Europe [member] | Automobile business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 332,928 | 319,340 | 290,326 | |
Operating segments [member] | External customers [member] | Europe [member] | Financial services business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | ||||
Operating segments [member] | External customers [member] | Europe [member] | Power product and other businesses [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 94,328 | 79,393 | 63,262 | |
Operating segments [member] | External customers [member] | Asia [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 4,318,326 | 3,686,238 | 3,227,474 | |
Operating segments [member] | External customers [member] | Asia [member] | Motorcycle business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 1,739,330 | 1,307,915 | 1,147,539 | |
Operating segments [member] | External customers [member] | Asia [member] | Automobile business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 2,523,613 | 2,314,425 | 2,032,469 | |
Operating segments [member] | External customers [member] | Asia [member] | Financial services business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 29 | 37 | 1 | |
Operating segments [member] | External customers [member] | Asia [member] | Power product and other businesses [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 55,354 | 63,861 | 47,465 | |
Operating segments [member] | External customers [member] | Other regions [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 892,680 | 642,226 | 461,436 | |
Operating segments [member] | External customers [member] | Other regions [member] | Motorcycle business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 502,917 | 337,219 | 205,142 | |
Operating segments [member] | External customers [member] | Other regions [member] | Automobile business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | 360,299 | 280,702 | 238,509 | |
Operating segments [member] | External customers [member] | Other regions [member] | Financial services business [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | ||||
Operating segments [member] | External customers [member] | Other regions [member] | Power product and other businesses [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue arising from contracts with customers | ¥ 29,464 | ¥ 24,305 | ¥ 17,785 | |
[1]Revenue arising from the other sources primarily includes lease revenues recognized under IFRS 16 and interest recognized under IFRS 9. |
Sales Revenue - Summary of Info
Sales Revenue - Summary of Information Regarding Receivables from Contracts with Customers and Contract Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Receivables from contracts with customers: [abstract] | ||
Trade receivables | ¥ 893,559 | ¥ 785,157 |
Contract liabilities: | ||
Other current liabilities | 292,552 | 261,049 |
Other noncurrent liabilities | ¥ 240,556 | ¥ 193,845 |
Sales Revenue - Summary of Reve
Sales Revenue - Summary of Revenue Expected to be Recognized in the Future Related to Performance Obligations that are Unsatisfied (or Partially Unsatisfied) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total | ¥ 446,380 | ¥ 364,407 |
Within 1 year [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total | 150,507 | 127,377 |
Between 1 and 5 years [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total | 280,981 | 221,282 |
Later than 5 years [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total | ¥ 14,892 | ¥ 15,748 |
Sales Revenue - Summary of Asse
Sales Revenue - Summary of Assets Recognized Costs Obtain a Contract With Customer (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure - Sales Revenue - Summary of Assets Recognized Costs Obtain a Contract With Customer [Abstract] | ||
Assets recognized from the costs to obtain a contract with a customer | ¥ 148,074 | ¥ 128,864 |
Research and Development - Summ
Research and Development - Summary of Research and Development Costs (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Material income and expense [abstract] | |||
Research and development expenditures incurred during the reporting period | ¥ 852,067 | ¥ 804,025 | ¥ 780,065 |
Amount capitalized | (120,811) | (159,174) | (201,889) |
Amortization and impairment losses of capitalized development costs | 149,659 | 142,205 | 160,718 |
Total | ¥ 880,915 | ¥ 787,056 | ¥ 738,894 |
Finance Income and Finance Co_3
Finance Income and Finance Costs - Summary of Finance Income and Finance Costs (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Interest income: | |||
Financial assets measured at amortized cost | ¥ 69,217 | ¥ 22,847 | ¥ 18,146 |
Financial assets measured at fair value through other comprehensive income | 497 | 185 | 196 |
Financial assets measured at fair value through profit or loss | 3,357 | 2,595 | 1,463 |
Total | 73,071 | 25,627 | 19,805 |
Interest expense: | |||
Financial liabilities measured at amortized cost | (34,065) | (15,706) | (12,269) |
Other | (2,047) | (1,161) | (1,608) |
Total | (36,112) | (16,867) | (13,877) |
Dividends received: | |||
Financial assets measured at fair value through other comprehensive income | 6,150 | 4,777 | 3,372 |
Financial assets measured at fair value through profit or loss | 0 | ||
Gains (losses) on derivatives: | |||
Financial assets and financial liabilities measured at fair value through profit or loss | (92,144) | (77,789) | 15,102 |
Gains (losses) on foreign exchange | 47,705 | 68,033 | (26,163) |
Other | (17,319) | (7,335) | (17,128) |
Total | (55,608) | (12,314) | (24,817) |
Total finance income and finance costs | ¥ (18,649) | ¥ (3,554) | ¥ (18,889) |
Income Taxes - Profit Before In
Income Taxes - Profit Before Income Taxes and Income Tax Expense (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of income taxes [Line Items] | |||
Profit (loss) before income taxes | ¥ 879,565 | ¥ 1,070,190 | ¥ 914,053 |
Income tax expense (benefit): | |||
Current taxes | 366,310 | 287,433 | 181,930 |
Deferred taxes | (204,054) | 22,056 | 36,679 |
Total | 162,256 | 309,489 | 218,609 |
Japan [member] | |||
Disclosure of income taxes [Line Items] | |||
Profit (loss) before income taxes | (40,638) | (42,213) | (32,954) |
Income tax expense (benefit): | |||
Current taxes | 12,699 | 9,539 | 7,236 |
Deferred taxes | (92,631) | (4,081) | (21,228) |
Total | (79,932) | 5,458 | (13,992) |
Foreign [member] | |||
Disclosure of income taxes [Line Items] | |||
Profit (loss) before income taxes | 920,203 | 1,112,403 | 947,007 |
Income tax expense (benefit): | |||
Current taxes | 353,611 | 277,894 | 174,694 |
Deferred taxes | (111,423) | 26,137 | 57,907 |
Total | ¥ 242,188 | ¥ 304,031 | ¥ 232,601 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of income taxes [Line Items] | |||
Statutory income tax rate | 30.20% | 30.20% | 30.20% |
Deferred tax assets recognized by entities that have suffered a loss in either the preceding or current period | ¥ 19,414 | ¥ 26,109 | |
Aggregate amounts of temporary differences relating to investments in subsidiaries and interests in joint ventures for which deferred tax liabilities are not recognized | ¥ 6,956,545 | ¥ 6,323,299 | |
Japan [member] | |||
Disclosure of income taxes [Line Items] | |||
Statutory income tax rate | 30.20% | ||
Deferred tax expense (income) relating to origination and reversal of temporary differences | ¥ 96,195 | ||
Foreign [member] | Bottom of range [member] | |||
Disclosure of income taxes [Line Items] | |||
Statutory income tax rate | 16% | ||
Foreign [member] | Top of range [member] | |||
Disclosure of income taxes [Line Items] | |||
Statutory income tax rate | 34% |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Statutory Income Tax Rate to Average Effective Tax Rate (Detail) | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Reconciliation of average effective tax rate and applicable tax rate [abstract] | |||
Statutory income tax rate | 30.20% | 30.20% | 30.20% |
Difference in statutory income tax rates of foreign subsidiaries | (6.30%) | (4.50%) | (5.20%) |
Effects of investments accounted for using the equity method | (4.00%) | (5.70%) | (9.00%) |
Effects of undistributed earnings and withholding taxes on royalty | 11.30% | 7.10% | 7.80% |
Changes in unrecognized deferred tax assets | (10.30%) | 1.40% | 1.20% |
Effects of income and expense not taxable and deductible for tax purpose | 0.10% | 0% | 0.30% |
Effects of tax credit | (2.90%) | (0.90%) | (1.40%) |
Other adjustments relating to prior years | (0.50%) | (0.10%) | (0.10%) |
Adjustments for the uncertain tax treatments on income taxes | 0.60% | 0.90% | (0.80%) |
Adjustments for the changes in income tax laws | (0.60%) | 0.10% | 0.10% |
Other | 0.80% | 0.40% | 0.80% |
Average effective tax rate | 18.40% | 28.90% | 23.90% |
Income Taxes - Components by Ma
Income Taxes - Components by Major Factor in Deferred Tax Assets and Deferred Tax Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | ¥ 105,792 | ¥ 91,592 | |
Deferred tax liabilities | 877,300 | 990,754 | |
Gross carrying amount [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 614,096 | 480,919 | |
Deferred tax liabilities | 1,385,604 | 1,380,081 | |
Net deferred tax assets (liabilities) | (771,508) | (899,162) | |
Gross carrying amount [member] | Inventories [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 51,604 | 44,029 | |
Gross carrying amount [member] | Accrued expenses [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 56,926 | 36,567 | |
Gross carrying amount [member] | Provisions [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 133,007 | 100,408 | |
Gross carrying amount [member] | Property, plant and equipment [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 27,854 | 27,592 | |
Deferred tax liabilities | 106,715 | 82,518 | |
Gross carrying amount [member] | Intangible assets [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 47,995 | 12,017 | |
Deferred tax liabilities | 182,258 | 195,542 | |
Gross carrying amount [member] | Retirement benefit liabilities [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 64,275 | 67,120 | |
Gross carrying amount [member] | Carryforward of unused tax losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 108,106 | 67,787 | |
Gross carrying amount [member] | Carryforward of unused tax credit [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 14,930 | 22,285 | |
Gross carrying amount [member] | Other [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 109,399 | 103,114 | |
Gross carrying amount [member] | Other financial assets [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | 59,275 | 61,580 | |
Gross carrying amount [member] | Operating leases [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | 772,991 | 846,978 | |
Gross carrying amount [member] | Undistributed earnings [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | 60,914 | 59,650 | |
Gross carrying amount [member] | Retirement benefit assets [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | 56,932 | 68,772 | |
Gross carrying amount [member] | Other [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | [1] | ¥ 146,519 | ¥ 65,041 |
[1]The amounts of deferred tax liabilities arising from an evaluation of receivables from financial service for tax purpose in North America included in other as of March 31, 2023 is ¥68,005 million. |
Income Taxes - Components by _2
Income Taxes - Components by Major Factor in Deferred Tax Assets and Deferred Tax Liabilities (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | ¥ 877,300 | ¥ 990,754 |
Evaluation of receivables from financial services for tax purpose in Unites States [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | ¥ 68,005 |
Income Taxes - Changes in Defer
Income Taxes - Changes in Deferred Tax Assets and Deferred Tax Liabilities Recognized as Income Tax Expense in the Consolidated Statements of Income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | ¥ (204,054) | ¥ 22,056 | ¥ 36,679 | |
Inventories [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | (7,407) | (9,865) | (3,920) | |
Provisions [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | (27,854) | (3,491) | (10,708) | |
Property, plant and equipment [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | 18,708 | (3,738) | (6,955) | |
Retirement benefit liabilities(assets) [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | (4,149) | (4,991) | (10,353) | |
Operating leases [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | (153,429) | (35,308) | 37,506 | |
Undistributed earnings [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | (1,005) | 4,198 | (2,885) | |
Carryforward of unused tax losses [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | (42,172) | (1,608) | (7,695) | |
Carryforward of unused tax credit [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | 9,504 | 16,102 | 15,695 | |
Other [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets and deferred tax liabilities recognized as income tax expense | [1] | ¥ 3,750 | ¥ 60,757 | ¥ 25,994 |
[1]The income tax expenses recognized due to the decrease of deferred tax assets arising from accrued expenses included in other as of March 31, 2022 is ¥27,321 million. |
Income Taxes - Changes in Def_2
Income Taxes - Changes in Deferred Tax Assets and Deferred Tax Liabilities Recognized as Income Tax Expense in the Consolidated Statements of Income (Parenthetical) (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2022 JPY (¥) | |
Changes in deferred tax liability (asset) [abstract] | |
Income tax expenses recognized due to decrease of deferred tax assets arising from accrued expenses | ¥ 27,321 |
Income Taxes - Deductible Tempo
Income Taxes - Deductible Temporary Differences, Carryforward of Unused Tax Losses and Unused Tax Credit for which Deferred Tax Assets are not Recognized (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | ||
Deductible temporary differences | ¥ 391,536 | ¥ 553,778 |
Carryforward of unused tax losses | 532,191 | 693,323 |
Carryforward of unused tax credit | ¥ 35,629 | ¥ 549 |
Income Taxes - Components by Ex
Income Taxes - Components by Expiry of the Carryforward of Unused Tax Losses for which Deferred Tax Assets are not Recognized (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | ¥ 532,191 | ¥ 693,323 |
Within 1 year [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 13,331 | 3,603 |
Between 1 and 5 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 82,173 | 73,448 |
Between 5 and 20 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 107,052 | 256,340 |
Indefinite periods [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | ¥ 329,635 | ¥ 359,932 |
Income Taxes - Components by _3
Income Taxes - Components by Expiry of Carryforward of Unused Tax Credits for which Deferred Tax Assets are not Recognized (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax credit | ¥ 35,629 | ¥ 549 |
Within 1 year [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax credit | 5 | 147 |
Between 1 and 5 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax credit | 35,611 | 259 |
Between 5 and 20 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax credit | 13 | 143 |
Indefinite periods [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax credit |
Earning Per Share - Summary of
Earning Per Share - Summary of Earnings Per Share (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Earnings per share [abstract] | |||
Profit for the year attributable to owners of the parent | ¥ 651,416 | ¥ 707,067 | ¥ 657,425 |
Weighted average number of common shares outstanding, basic | 1,696,307,115 | 1,719,961,835 | 1,726,638,088 |
Basic earnings per share attributable to owners of the parent | ¥ 384.02 | ¥ 411.09 | ¥ 380.75 |
Financial Risk Management - Add
Financial Risk Management - Additional Information (Detail) - JPY (¥) | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Amount accrued for estimated losses | ¥ 0 | |
Undiscounted maximum amount of payment for guarantee obligations | 119,222,000,000 | ¥ 119,168,000,000 |
Guarantee of employee loans [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Undiscounted maximum amount of payment for guarantee obligations | ¥ 5,988,000,000 | ¥ 7,098,000,000 |
Consumer finance receivables [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Collateral values in excess for percentage of carrying amounts | 80% | 90% |
Dealer finance receivable [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Collateral values in excess for percentage of carrying amounts | 100% | 100% |
Percentage of appreciation of the Japanese yen against the U.S. dollar [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Sensitivity analysis, percentage | 1% | 1% |
Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Sensitivity analysis, percentage | 1% | 1% |
Financial Risk Management - For
Financial Risk Management - Foreign Currency Exchange Rate Risk Sensitivity Analysis (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Percentage of appreciation of the Japanese yen against the U.S. dollar [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Impact on profit before income taxes | ¥ (2,696) | ¥ (1,780) |
Financial Risk Management - Int
Financial Risk Management - Interest Rate Risk Sensitivity Analysis (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Impact on profit before income taxes | ¥ (2,092) | ¥ (25,830) |
Financial Risk Management - Ana
Financial Risk Management - Analysis of the Age of Receivables from Financial Services that are Past Due (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | ¥ 5,894,752 | ¥ 5,434,496 | |
Retail [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | [1] | 5,363,260 | 5,054,428 |
Wholesale [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 421,166 | 284,506 | |
Financial assets past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 311,950 | 276,982 | |
Financial assets past due [member] | Less than 30 days [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 233,148 | 214,522 | |
Financial assets past due [member] | 30-59 days past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 55,802 | 43,138 | |
Financial assets past due [member] | 60-89 days past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 13,201 | 11,463 | |
Financial assets past due [member] | 90 days and greater past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 9,799 | 7,859 | |
Financial assets past due [member] | Retail [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 302,015 | 266,676 | |
Financial assets past due [member] | Retail [member] | Less than 30 days [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 223,674 | 204,661 | |
Financial assets past due [member] | Retail [member] | 30-59 days past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 55,675 | 43,051 | |
Financial assets past due [member] | Retail [member] | 60-89 days past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 13,185 | 11,452 | |
Financial assets past due [member] | Retail [member] | 90 days and greater past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 9,481 | 7,512 | |
Financial assets past due [member] | Finance lease [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 968 | 582 | |
Financial assets past due [member] | Finance lease [member] | Less than 30 days [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 545 | 200 | |
Financial assets past due [member] | Finance lease [member] | 30-59 days past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 118 | 51 | |
Financial assets past due [member] | Finance lease [member] | 60-89 days past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 5 | 7 | |
Financial assets past due [member] | Finance lease [member] | 90 days and greater past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 300 | 324 | |
Financial assets past due [member] | Wholesale [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 8,967 | 9,724 | |
Financial assets past due [member] | Wholesale [member] | Less than 30 days [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 8,929 | 9,661 | |
Financial assets past due [member] | Wholesale [member] | 30-59 days past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 9 | 36 | |
Financial assets past due [member] | Wholesale [member] | 60-89 days past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | 11 | 4 | |
Financial assets past due [member] | Wholesale [member] | 90 days and greater past due [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Receivables from financial services | ¥ 18 | ¥ 23 | |
[1]The tables above represent the gross amounts of retail receivables by stages of ECL model since the expected credit losses are measured collectively by our finance subsidiaries and the balances of those receivables are not directly allocated to the risk ratings. |
Financial Risk Management - Sum
Financial Risk Management - Summary of Retail Receivables Included In Consumer Finance Receivables (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure Of Finance Receivables [Line Items] | |||
Consumer finance receivables | ¥ 5,894,752 | ¥ 5,434,496 | |
Retail [member] | |||
Disclosure Of Finance Receivables [Line Items] | |||
Consumer finance receivables | [1] | 5,363,260 | 5,054,428 |
12-month ECL [member] | Retail [member] | |||
Disclosure Of Finance Receivables [Line Items] | |||
Consumer finance receivables | [1] | 4,985,289 | 4,897,471 |
Not credit-impaired [member] | Lifetime ECL [member] | Retail [member] | |||
Disclosure Of Finance Receivables [Line Items] | |||
Consumer finance receivables | [1] | 356,005 | 139,306 |
Credit-impaired [member] | Lifetime ECL [member] | Retail [member] | |||
Disclosure Of Finance Receivables [Line Items] | |||
Consumer finance receivables | [1] | ¥ 21,966 | ¥ 17,651 |
[1]The tables above represent the gross amounts of retail receivables by stages of ECL model since the expected credit losses are measured collectively by our finance subsidiaries and the balances of those receivables are not directly allocated to the risk ratings. |
Financial Risk Management - Dea
Financial Risk Management - Dealer Finance Receivables and Undiscounted Maximum Amounts of Potential Payment for Loan Commitments (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Dealer finance receivables: | ||
Dealer finance receivables | ¥ 5,894,752 | ¥ 5,434,496 |
Loan commitments: | ||
Loan commitments | 119,222 | 119,168 |
Group A [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 303,203 | 190,306 |
Loan commitments: | ||
Loan commitments | 103,858 | 95,485 |
Group B [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 117,963 | 94,200 |
Loan commitments: | ||
Loan commitments | 15,364 | 23,683 |
Wholesale [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 421,166 | 284,506 |
12-month ECL [member] | ||
Loan commitments: | ||
Loan commitments | 119,222 | 119,168 |
12-month ECL [member] | Group A [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 297,885 | 188,101 |
Loan commitments: | ||
Loan commitments | 103,858 | 95,485 |
12-month ECL [member] | Group B [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 116,156 | 91,995 |
Loan commitments: | ||
Loan commitments | 15,364 | 23,683 |
12-month ECL [member] | Wholesale [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 414,041 | 280,096 |
Lifetime ECL [member] | Not credit-impaired [member] | ||
Loan commitments: | ||
Loan commitments | ||
Lifetime ECL [member] | Not credit-impaired [member] | Group A [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 706 | 88 |
Loan commitments: | ||
Loan commitments | ||
Lifetime ECL [member] | Not credit-impaired [member] | Group B [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 1,684 | 2,133 |
Loan commitments: | ||
Loan commitments | ||
Lifetime ECL [member] | Not credit-impaired [member] | Wholesale [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 2,390 | 2,221 |
Lifetime ECL [member] | Credit-impaired [member] | ||
Loan commitments: | ||
Loan commitments | ||
Lifetime ECL [member] | Credit-impaired [member] | Group A [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 4,612 | 2,117 |
Loan commitments: | ||
Loan commitments | ||
Lifetime ECL [member] | Credit-impaired [member] | Group B [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | 123 | 72 |
Loan commitments: | ||
Loan commitments | ||
Lifetime ECL [member] | Credit-impaired [member] | Wholesale [member] | ||
Dealer finance receivables: | ||
Dealer finance receivables | ¥ 4,735 | ¥ 2,189 |
Financial Risk Management - Unu
Financial Risk Management - Unused Portions of the Credit Facility (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Commercial paper [member] | ||
Disclosure of unused portion of borrowing facility [line items] | ||
Unused portions of the credit facility | ¥ 729,096 | ¥ 1,190,631 |
Medium-term notes [member] | ||
Disclosure of unused portion of borrowing facility [line items] | ||
Unused portions of the credit facility | 3,832,311 | 1,291,612 |
Credit facility [member] | ||
Disclosure of unused portion of borrowing facility [line items] | ||
Unused portions of the credit facility | ¥ 4,561,407 | ¥ 2,482,243 |
Financial Risk Management - U_2
Financial Risk Management - Unused Portions of the Committed Lines of Credit (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Commercial paper programs [member] | ||
Disclosure of unused portion of borrowing facility [line items] | ||
Unused portions of the committed lines of credit | ¥ 1,306,781 | ¥ 1,226,138 |
Other committed lines of credit [member] | ||
Disclosure of unused portion of borrowing facility [line items] | ||
Unused portions of the committed lines of credit | 65,299 | 67,976 |
Committed lines of credit [member] | ||
Disclosure of unused portion of borrowing facility [line items] | ||
Unused portions of the committed lines of credit | ¥ 1,372,080 | ¥ 1,294,114 |
Financial Risk Management - Non
Financial Risk Management - Non-derivative Financial Liabilities by Maturity (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade payables, carrying amount | ¥ 1,426,333 | ¥ 1,236,233 |
Financing liabilities, carrying amount | 7,665,168 | 8,102,556 |
Accrued expenses, carrying amount | 419,570 | 375,601 |
Other financial liabilities, carrying amount | 369,878 | 367,041 |
Non-derivative financial liabilities, carrying amount | 9,880,949 | 10,081,431 |
Trade payables, contractual cash flows | 1,426,333 | 1,236,233 |
Financing liabilities, contractual cash flows | 7,996,385 | 8,391,545 |
Accrued expenses, contractual cash flows | 419,570 | 375,601 |
Other financial liabilities, contractual cash flows | 396,434 | 394,420 |
Non-derivative financial liabilities, contractual cash flows | 10,238,722 | 10,397,799 |
Within 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade payables, contractual cash flows | 1,426,333 | 1,236,233 |
Financing liabilities, contractual cash flows | 3,410,145 | 3,218,988 |
Accrued expenses, contractual cash flows | 419,570 | 375,601 |
Other financial liabilities, contractual cash flows | 87,685 | 93,054 |
Non-derivative financial liabilities, contractual cash flows | 5,343,733 | 4,923,876 |
Between 1 and 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade payables, contractual cash flows | ||
Financing liabilities, contractual cash flows | 4,074,986 | 4,407,350 |
Accrued expenses, contractual cash flows | ||
Other financial liabilities, contractual cash flows | 100,800 | 94,837 |
Non-derivative financial liabilities, contractual cash flows | 4,175,786 | 4,502,187 |
Later than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade payables, contractual cash flows | ||
Financing liabilities, contractual cash flows | 511,254 | 765,207 |
Accrued expenses, contractual cash flows | ||
Other financial liabilities, contractual cash flows | 207,949 | 206,529 |
Non-derivative financial liabilities, contractual cash flows | ¥ 719,203 | ¥ 971,736 |
Financial Risk Management - S_2
Financial Risk Management - Summary of Lease liabilities by maturity (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure Of Lease Liabilities By Maturity [Line Items] | ||
Lease liabilities | ¥ 315,958 | ¥ 318,758 |
Total contractual cash flows | 342,515 | 346,136 |
Within 1 year [member] | ||
Disclosure Of Lease Liabilities By Maturity [Line Items] | ||
Total contractual cash flows | 69,297 | 71,510 |
Between 1 and 5 years [member] | ||
Disclosure Of Lease Liabilities By Maturity [Line Items] | ||
Total contractual cash flows | 87,428 | 86,305 |
Later than 5 years [member] | ||
Disclosure Of Lease Liabilities By Maturity [Line Items] | ||
Total contractual cash flows | ¥ 185,790 | ¥ 188,321 |
Financial Risk Management - Der
Financial Risk Management - Derivative Financial Liabilities by Maturity (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative financial liabilities, contractual cash flows | ¥ 268,955 | ¥ 185,249 |
Within 1 year [member] | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative financial liabilities, contractual cash flows | 109,112 | 53,895 |
Between 1 and 5 years [member] | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative financial liabilities, contractual cash flows | 137,056 | 106,214 |
Later than 5 years [member] | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Derivative financial liabilities, contractual cash flows | ¥ 22,787 | ¥ 25,140 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) - JPY (¥) | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of fair value measurement of assets [abstract] | ||
Percentage of auction rate securities guaranteed by government | 95% | |
Transfers out of Level 1 into Level 2 of fair value hierarchy | ¥ 0 | ¥ 0 |
Transfers out of Level 2 into Level 1 of fair value hierarchy | ¥ 0 | ¥ 0 |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | ¥ 1,118,962 | ¥ 1,037,397 | |
Other financial liabilities | 612,846 | 518,983 | |
Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 85,235 | 79,176 | |
Measured at fair value on a recurring basis [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 789,633 | 725,356 | |
Other financial liabilities | 242,968 | 151,942 | |
Measured at fair value on a recurring basis [member] | Financial liabilities measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 95,412 | 66,644 | |
Measured at fair value on a recurring basis [member] | Financial liabilities measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 141,786 | 83,669 | |
Measured at fair value on a recurring basis [member] | Financial liabilities measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 5,770 | 1,629 | |
Measured at fair value on a recurring basis [member] | Financial liabilities measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 242,968 | 151,942 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 29,026 | 15,674 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 151,242 | 114,016 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 5,700 | 4,648 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 185,968 | 134,338 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through profit or loss [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 101,972 | 102,251 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through other comprehensive income [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 26,555 | 19,984 | |
Measured at fair value on a recurring basis [member] | Financial assets measured at fair value through other comprehensive income [member] | Equity securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 475,138 | 468,783 | |
Measured at fair value on a recurring basis [member] | Level 1 [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 368,582 | 378,582 | |
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial liabilities measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial liabilities measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial liabilities measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial liabilities measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through profit or loss [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 43,264 | 42,837 | |
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through other comprehensive income [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 1 [member] | Financial assets measured at fair value through other comprehensive income [member] | Equity securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 325,318 | 335,745 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 260,457 | 204,315 | |
Other financial liabilities | 242,968 | 151,942 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial liabilities measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 95,412 | 66,644 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial liabilities measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 141,786 | 83,669 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial liabilities measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 5,770 | 1,629 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial liabilities measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | 242,968 | 151,942 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 29,026 | 15,674 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 151,242 | 114,016 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 180,268 | 129,690 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through profit or loss [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 53,634 | 54,641 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through other comprehensive income [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 26,555 | 19,984 | |
Measured at fair value on a recurring basis [member] | Level 2 [member] | Financial assets measured at fair value through other comprehensive income [member] | Equity securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 160,594 | 142,459 | |
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 5,700 | 4,648 | ¥ 4,829 |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 5,074 | 4,773 | 5,314 |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Equity securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 149,820 | 133,038 | ¥ 110,050 |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial liabilities measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial liabilities measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial liabilities measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial liabilities measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial liabilities | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through profit or loss [member] | Foreign exchange instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through profit or loss [member] | Interest rate instruments [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through profit or loss [member] | Other [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 5,700 | 4,648 | |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through profit or loss [member] | Derivatives [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 5,700 | 4,648 | |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through profit or loss [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | 5,074 | 4,773 | |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through other comprehensive income [member] | Debt securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | |||
Measured at fair value on a recurring basis [member] | Level 3 [member] | Financial assets measured at fair value through other comprehensive income [member] | Equity securities [member] | |||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | |||
Other financial assets | ¥ 149,820 | ¥ 133,038 |
Fair Value - Changes in Level 3
Fair Value - Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | ¥ 1,037,397 | |
Ending balance | 1,118,962 | ¥ 1,037,397 |
Debt securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | 79,176 | |
Ending balance | 85,235 | 79,176 |
Measured at fair value on a recurring basis [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | 725,356 | |
Ending balance | 789,633 | 725,356 |
Measured at fair value on a recurring basis [member] | Level 3 [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | 142,459 | |
Ending balance | 160,594 | 142,459 |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Derivatives [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | 4,648 | 4,829 |
Profit or loss | 678 | (674) |
Other comprehensive income | ||
Purchases | ||
Sales | ||
Transfer to level 1 due to listing | ||
Exchange differences on translating foreign operations | 374 | 493 |
Ending balance | 5,700 | 4,648 |
Unrealized gains or losses included in profit or loss on assets held | 678 | (674) |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Debt securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | 4,773 | 5,314 |
Profit or loss | (136) | 112 |
Other comprehensive income | ||
Purchases | ||
Sales | (1,124) | |
Transfer to level 1 due to listing | ||
Exchange differences on translating foreign operations | 437 | 471 |
Ending balance | 5,074 | 4,773 |
Unrealized gains or losses included in profit or loss on assets held | (136) | 112 |
Measured at fair value on a recurring basis [member] | Level 3 [member] | Equity securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Beginning balance | 133,038 | 110,050 |
Profit or loss | ||
Other comprehensive income | 9,156 | 17,973 |
Purchases | 10,029 | 7,075 |
Sales | (1,144) | (1,487) |
Transfer to level 1 due to listing | (1,551) | (1,158) |
Exchange differences on translating foreign operations | 292 | 585 |
Ending balance | 149,820 | 133,038 |
Unrealized gains or losses included in profit or loss on assets held |
Fair Value - Carrying Amounts a
Fair Value - Carrying Amounts and Fair Values of Financial Assets and Financial Liabilities Measured at Amortized Cost (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | ||
Receivables from financial services | ¥ 5,894,752 | ¥ 5,434,496 |
Debt securities | 1,118,962 | 1,037,397 |
Financing liabilities | 7,665,168 | 8,102,556 |
Debt securities [member] | ||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | ||
Debt securities | 85,235 | 79,176 |
Fair value [member] | ||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | ||
Receivables from financial services | 5,696,283 | 5,374,754 |
Financing liabilities | 7,440,205 | 7,984,057 |
Fair value [member] | Debt securities [member] | ||
Disclosures of fair value of financial assets and financial liabilities at amortized cost [Line items] | ||
Debt securities | ¥ 85,235 | ¥ 79,176 |
Offsetting of Financial Asset_3
Offsetting of Financial Assets and Financial Liabilities - Offsetting Information Regarding Financial Assets and Financial Liabilities (Detail) - Derivatives [member] - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Gross amounts of recognized financial assets | ¥ 185,968 | ¥ 134,338 |
Amounts offset in the consolidated statements of financial position, financial assets | ||
Net amounts presented in the consolidated statements of financial position, financial assets | 185,968 | 134,338 |
Amounts not offset due to not meeting offsetting criteria despite being subject to a master netting agreement or similar agreement, financial assets | (133,472) | (98,419) |
Net Amounts, financial assets | 52,496 | 35,919 |
Gross amounts of recognized financial liabilities | 242,968 | 151,942 |
Amounts offset in the consolidated statements of financial position, financial liabilities | ||
Net amounts presented in the consolidated statements of financial position, financial liabilities | 242,968 | 151,942 |
Amounts not offset due to not meeting offsetting criteria despite being subject to a master netting agreement or similar agreement, financial liabilities | (133,472) | (98,419) |
Net Amounts, financial liabilities | ¥ 109,496 | ¥ 53,523 |
Commitments and Contingent Li_3
Commitments and Contingent Liabilities - Commitments for Purchases of Property, Plant and Equipment and Other Commitments (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of contingent liabilities [abstract] | ||
Commitments for purchases of property, plant and equipment and other commitments | ¥ 107,865 | ¥ 60,527 |
Related Parties - Balances of R
Related Parties - Balances of Receivables and Payables with Affiliates and Joint Ventures (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of transactions between related parties [line items] | ||
Receivables | ¥ 435,797 | ¥ 380,687 |
Payables | 274,134 | 184,085 |
Affiliates [member] | ||
Disclosure of transactions between related parties [line items] | ||
Receivables | 95,429 | 34,317 |
Payables | 207,090 | 147,705 |
Joint ventures [member] | ||
Disclosure of transactions between related parties [line items] | ||
Receivables | 340,368 | 346,370 |
Payables | ¥ 67,044 | ¥ 36,380 |
Related Parties - Amount of Tra
Related Parties - Amount of Transactions with Affiliates and Joint Ventures (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of transactions between related parties [line items] | |||
Sales revenue | ¥ 1,067,321 | ¥ 1,146,557 | ¥ 1,073,662 |
Purchase | 1,682,181 | 1,370,387 | 1,166,044 |
Affiliates [member] | |||
Disclosure of transactions between related parties [line items] | |||
Sales revenue | 125,318 | 93,187 | 87,742 |
Purchase | 1,443,840 | 1,176,066 | 1,015,921 |
Joint ventures [member] | |||
Disclosure of transactions between related parties [line items] | |||
Sales revenue | 942,003 | 1,053,370 | 985,920 |
Purchase | ¥ 238,341 | ¥ 194,321 | ¥ 150,123 |
Related Parties - Additional I
Related Parties - Additional Information (Detail) ¥ in Millions, $ in Millions | Mar. 31, 2023 JPY (¥) | Mar. 31, 2023 USD ($) | Aug. 29, 2022 USD ($) | Mar. 31, 2022 JPY (¥) |
Disclosure of transactions between related parties [line items] | ||||
Investments in joint ventures | ¥ | ¥ 416,004 | ¥ 422,841 | ||
L-H Battery Company, Inc [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Investments in joint ventures | $ | $ 1,627 | $ 1,730 |
Related Parties - Compensation
Related Parties - Compensation Paid to Directors (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Related party transactions [abstract] | |||
Remuneration | ¥ 679 | ¥ 696 | ¥ 683 |
STI (Short Term Incentive) | 229 | 188 | 95 |
LTI (Long Term Incentive) | 286 | 159 | 129 |
Total | ¥ 1,194 | ¥ 1,043 | ¥ 907 |
Related Parties - Major Consoli
Related Parties - Major Consolidated Subsidiaries (Detail) | 12 Months Ended |
Mar. 31, 2023 | |
Honda R&D Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda R&D Co., Ltd. |
Country of Incorporation | Japan |
Function | Research & Development |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda Finance Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Finance Co., Ltd. |
Country of Incorporation | Japan |
Function | Finance |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
American Honda Motor Co., Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Company | American Honda Motor Co., Inc. |
Country of Incorporation | U.S.A. |
Function | Coordination of Subsidiaries Operation, Research & Development, Manufacturing and Sales |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
American Honda Finance Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Company | American Honda Finance Corporation |
Country of Incorporation | U.S.A. |
Function | Finance |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda Development and Manufacturing of America, LLC [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Development and Manufacturing of America, LLC |
Country of Incorporation | U.S.A. |
Function | Research & Development and Manufacturing |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda Canada Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Canada Inc. |
Country of Incorporation | Canada |
Function | Manufacturing and Sales |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda Canada Finance Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Canada Finance Inc. |
Country of Incorporation | Canada |
Function | Finance |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda de Mexico, S.A. de C.V. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda de Mexico, S.A. de C.V. |
Country of Incorporation | Mexico |
Function | Manufacturing and Sales |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda Motor Europe Limited [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Motor Europe Limited |
Country of Incorporation | U.K. |
Function | Coordination of Subsidiaries Operation and Sales |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda Finance Europe plc [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Finance Europe plc |
Country of Incorporation | U.K. |
Function | Finance |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda Motor (China) Investment Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Motor (China) Investment Co., Ltd. |
Country of Incorporation | China |
Function | Coordination of Subsidiaries Operation and Sales |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda Auto Parts Manufacturing Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Auto Parts Manufacturing Co., Ltd. |
Country of Incorporation | China |
Function | Manufacturing |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda Motorcycle & Scooter India (Private) Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Motorcycle & Scooter India (Private) Ltd. |
Country of Incorporation | India |
Function | Manufacturing and Sales |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda Cars India Limited [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Cars India Limited |
Country of Incorporation | India |
Function | Manufacturing and Sales |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
P.T. Honda Prospect Motor [member] | |
Disclosure of subsidiaries [line items] | |
Company | P.T. Honda Prospect Motor |
Country of Incorporation | Indonesia |
Function | Manufacturing and Sales |
Percentage Ownership | 51% |
Percentage Voting Interest | 51% |
Honda Malaysia Sdn Bhd [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Malaysia Sdn Bhd |
Country of Incorporation | Malaysia |
Function | Manufacturing and Sales |
Percentage Ownership | 51% |
Percentage Voting Interest | 51% |
Asian Honda Motor Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Asian Honda Motor Co., Ltd. |
Country of Incorporation | Thailand |
Function | Coordination of Subsidiaries Operation and Sales |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda Leasing (Thailand) Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Leasing (Thailand) Co., Ltd. |
Country of Incorporation | Thailand |
Function | Finance |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Honda Automobile (Thailand) Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Automobile (Thailand) Co., Ltd. |
Country of Incorporation | Thailand |
Function | Manufacturing and Sales |
Percentage Ownership | 89% |
Percentage Voting Interest | 89% |
Thai Honda Manufacturing Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Thai Honda Co., Ltd. |
Country of Incorporation | Thailand |
Function | Manufacturing and Sales |
Percentage Ownership | 72.50% |
Percentage Voting Interest | 72.50% |
Honda Vietnam Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda Vietnam Co., Ltd. |
Country of Incorporation | Vietnam |
Function | Manufacturing and Sales |
Percentage Ownership | 70% |
Percentage Voting Interest | 70% |
Honda South America Ltda. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Honda South America Ltda. |
Country of Incorporation | Brazil |
Function | Coordination of Subsidiaries Operation |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Moto Honda da Amazonia Ltda. [member] | |
Disclosure of subsidiaries [line items] | |
Company | Moto Honda da Amazonia Ltda. |
Country of Incorporation | Brazil |
Function | Manufacturing and Sales |
Percentage Ownership | 100% |
Percentage Voting Interest | 100% |
Subsequent Event - Additional I
Subsequent Event - Additional Information (Detail) - Major ordinary share transactions [member] - Issued capital [member] ¥ in Millions | 11 Months Ended |
Mar. 31, 2024 JPY (¥) shares | |
Disclosure of non-adjusting events after reporting period [line items] | |
Number of shares to be acquired | shares | 64,000,000 |
Percentage of shares to be acquired | 3.80% |
Amount of shares to be acquired | ¥ | ¥ 200,000 |