Equity (Tables)

12 Months Ended

Mar. 31, 2026

Financing liabilities and equity of Honda as of March 31, 2025 and 2026 are as follows:


	Yen (millions)
	2025		2026
Financing liabilities	¥	11,451,267	¥	13,479,863
Equity		12,627,822		12,148,072

Total Number of Shares Authorized and Issued

The Company’s total number of shares authorized and issued for the years ended March 31, 2024, 2025 and 2026 are as follows:


	Shares
	2024		2025		2026
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		5,280,000,000		5,280,000,000
Changes during the year *		3,468,571,570		—		(747,000,000	)
Balance at end of year		5,280,000,000		5,280,000,000		4,533,000,000

Explanatory notes:

*1	As of the effective date of October 1, 2023, the Company implemented a three-for-one stock split of its common stock to shareholders as of the record date of September 30, 2023.

*2	As of February 29, 2024, the Company cancelled 154,285,290 shares of its treasury stock based on the resolution of the Board of Directors Meeting on February 8, 2024.

*3	As of February 27, 2026, the Company cancelled 747,000,000 shares of its treasury stock based on the resolution of the Board of Directors Meeting on February 10, 2026.

Total Number of Treasury Stock Held

The total number of the Company’s treasury stock held by Honda as of March 31, 2024, 2025 and 2026 is as follows:


	Shares
	2024		2025		2026
Common shares		451,092,624		933,490,429		640,419,559

Changes in Other Components of Equity

The changes in other components of equity for the years ended March 31, 2024, 2025 and 2026 are as follows:


	Yen (millions)
	Remeasurements of defined benefit plans			Net changes in revaluation of financial assets measured at fair value through other comprehensive income			Exchange differences on translating foreign operations			Cash flow hedge		Total
Balance as of April 1, 2023	¥	—		¥	126,940		¥	1,290,457		¥	—	¥	1,417,397

Adjustment during the year	¥	(18,194	)	¥	(17,924	)	¥	913,456		¥	—	¥	877,338
Reclassification to retained earnings		18,194			(479	)		—			—		17,715

Balance as of March 31, 2024	¥	—		¥	108,537		¥	2,203,913		¥	—	¥	2,312,450

Adjustment during the year	¥	26,874		¥	(19,953	)	¥	(143,608	)	¥	—	¥	(136,687	)
Reclassification to retained earnings		(26,874	)		36,932			—			—		10,058

Balance as of March 31, 2025	¥	—		¥	125,516		¥	2,060,305		¥	—	¥	2,185,821

Adjustment during the year	¥	(14,637	)	¥	134,224		¥	738,648		¥	11,021	¥	869,256
Reclassification to retained earnings		14,637			(22,225	)		—					(7,588	)

Balance as of March 31, 2026	¥	—		¥	237,515		¥	2,798,953		¥	11,021	¥	3,047,489

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

interests for the years ended March 31, 2024, 2025 and 2026 are as follows:

For the year ended March 31, 2024


	Yen (millions)
	Before-tax			Tax benefit (expense)			Net-of-tax
Items that will not be reclassified to profit or loss:
Remeasurements of defined benefit plans:
Amount incurred during the year	¥	(30,696	)	¥	11,765		¥	(18,931	)

Net changes		(30,696	)		11,765			(18,931	)

Net changes in revaluation of financial assets measured at fair value through other comprehensive income:
Amount incurred during the year		(27,034	)		1,565			(25,469	)

Net changes		(27,034	)		1,565			(25,469	)

Share of other comprehensive income of investments accounted for using the equity method:
Amount incurred during the year		8,976			(676	)		8,300

Net changes		8,976			(676	)		8,300

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		149			(83	)		66
Reclassification to profit or loss		(78	)		68			(10	)

Net changes		71			(15	)		56

Exchange differences on translating foreign operations:
Amount incurred during the year		880,235			(2,727	)		877,508
Reclassification to profit or loss		(5,185	)		2,727			(2,458	)

Net changes		875,050			—			875,050

Share of other comprehensive income of investments accounted for using the equity method:
Amount incurred during the year		57,139			(2,850	)		54,289
Reclassification to profit or loss		64			—			64

Net changes		57,203			(2,850	)		54,353

Total other comprehensive income	¥	883,570		¥	9,789		¥	893,359

For the year ended March 31, 2025


	Yen (millions)
	Before-tax			Tax benefit (expense)			Net-of-tax
Items that will not be reclassified to profit or loss:
Remeasurements of defined benefit plans:
Amount incurred during the year	¥	33,986		¥	(7,259	)	¥	26,727

Net changes		33,986			(7,259	)		26,727

Net changes in revaluation of financial assets measured at fair value through other comprehensive income:
Amount incurred during the year		(23,320	)		9,843			(13,477	)

Net changes		(23,320	)		9,843			(13,477	)

Share of other comprehensive income of investments accounted for using the equity method:
Amount incurred during the year		(7,029	)		530			(6,499	)

Net changes		(7,029	)		530			(6,499	)

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		582			(128	)		454
Reclassification to profit or loss		(50	)		11			(39	)

Net changes		532			(117	)		415

Exchange differences on translating foreign operations:
Amount incurred during the year		(162,200	)		(2	)		(162,202	)
Reclassification to profit or loss		(125	)		2			(123	)

Net changes		(162,325	)		—			(162,325	)

Share of other comprehensive income of investments accounted for using the equity method:
Amount incurred during the year		20,910			(1,190	)		19,720
Reclassification to profit or loss		(1,319	)		—			(1,319	)

Net changes		19,591			(1,190	)		18,401

Total other comprehensive income	¥	(138,565	)	¥	1,807		¥	(136,758	)

For the year ended March 31, 2026


	Yen (millions)
	Before-tax			Tax benefit (expense)			Net-of-tax
Items that will not be reclassified to profit or loss:
Remeasurements of defined benefit plans:
Amount incurred during the year	¥	(10,970	)	¥	(4,076	)	¥	(15,046	)

Net changes		(10,970	)		(4,076	)		(15,046	)

Net changes in revaluation of financial assets measured at fair value through other comprehensive income:
Amount incurred during the year		179,774			(48,660	)		131,114

Net changes		179,774			(48,660	)		131,114

Share of other comprehensive income of investments accounted for using the equity method:
Amount incurred during the year		3,398			82			3,480

Net changes		3,398			82			3,480

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		(215	)		52			(163	)
Reclassification to profit or loss		120			(28	)		92

Net changes		(95	)		24			(71	)

Exchange differences on translating foreign operations:
Amount incurred during the year		702,846			(26	)		702,820
Reclassification to profit or loss		(921	)		26			(895	)

Net changes		701,925			—			701,925

Cash flow hedge
Amount incurred during the year		76,045			(23,574	)		52,471
Reclassification to profit or loss		(60,072	)		18,622			(41,450	)

Net changes		15,973			(4,952	)		11,021

Share of other comprehensive income of investments accounted for using the equity method:
Amount incurred during the year		63,775			171			63,946
Reclassification to profit or loss		(3,999	)		—			(3,999	)

Net changes		59,776			171			59,947

Total other comprehensive income	¥	949,781		¥	(57,411)		¥	892,370

Components of Other Comprehensive Income Included in Non-controlling Interests

The components of other comprehensive income included in

non-controlling

interests for the years ended March 31, 2024, 2025 and 2026 are as follows:


	Yen (millions)
	2024		2025			2026
Items that will not be reclassified to profit or loss:
Remeasurements of defined benefit plans	¥	186	¥	90		¥	(137	)
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		6		155			27
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translating foreign operations		18,893		(316	)		23,224

Total	¥	19,085	¥	(71	)	¥	23,114

Dividends from Retained Earnings

The amounts recognized as dividends of retained earnings for the years ended March 31, 2024, 2025 and 2026 are as follows:

1) Dividend payout

For the year ended March 31, 2024


Resolution		The Board of Directors Meeting on May 11, 2023
Type of shares		Common shares
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

Resolution		The Board of Directors Meeting on November 9, 2023
Type of shares		Common shares
Total amount of dividends (millions of yen)		141,949
Dividend per share (yen)		87.00
Record date		September 30, 2023
Effective date		December 5, 2023

Explanatory note:

*	As of the effective date of October 1, 2023, the Company implemented a three-for-one stock split of its common stock to shareholders as of the record date of September 30, 2023. Dividend per share is an amount prior to the stock split.

For the year ended March 31, 2025


Resolution		The Board of Directors Meeting on May 10, 2024
Type of shares		Common shares
Total amount of dividends (millions of yen)		188,418
Dividend per share (yen)		39.00
Record date		March 31, 2024
Effective date		June 4, 2024

Resolution		The Board of Directors Meeting on November 6, 2024
Type of shares		Common shares
Total amount of dividends (millions of yen)		159,386
Dividend per share (yen)		34.00
Record date		September 30, 2024
Effective date		December 4, 2024

For the year ended March 31, 2026


Resolution		The Board of Directors Meeting on May 13, 2025
Type of shares		Common shares
Total amount of dividends (millions of yen)		147,960
Dividend per share (yen)		34.00
Record date		March 31, 2025
Effective date		June 5, 2025

Resolution		The Board of Directors Meeting on November 7, 2025
Type of shares		Common shares
Total amount of dividends (millions of yen)		136,430
Dividend per share (yen)		35.00
Record date		September 30, 2025
Effective date		December 5, 2025

2) Dividends payable of which record date was in the year ended March 31, 2026, effective after the period


Resolution		The Board of Directors Meeting on May 14, 2026
Type of shares		Common shares
Resource for dividend		Retained earnings
Total amount of dividends (millions of yen)		136,430
Dividend per share (yen)		35.00
Record date		March 31, 2026
Effective date		June 9, 2026