HONDA FIRST QUARTER RESULTS
July 25 2008.

Honda Motor Co., Ltd. today announced its consolidated financial results for the fiscal first quarter ended June 30, 2008.

First Quarter Results
Honda's consolidated net income for the fiscal first quarter ended June 30, 2008 totaled JPY 179.6 billion (USD 1,688 million), an increase of 8.1% from the same period in 2007. Net income set a record high for the fiscal first quarter. Basic net income per common share for the quarter amounted to JPY 98.98 (USD 0.93), an increase of JPY 7.6 from JPY 91.38 for the corresponding period last year. One Honda American Depository Share represents one common share.

Consolidated net sales and other operating revenue (herein referred to as "revenue") for the quarter amounted to JPY 2,867.2 billion (USD 26,943 million), a decrease of 2.2% from the same period in 2007, resulting primarily from currency translation effects. Honda estimates that if calculated at the same exchange rate as the corresponding period in 2007, revenue for the quarter would have increased by approximately 7.1%.

Consolidated operating income for the quarter totaled JPY 221.3 billion (USD 2,080 million), approximately the same level compared to the same period last year, due primarily to the positive impact of decreased sales incentives in the automobile business in North America, increased profit attributable to increased unit sales in the automobile business and continuing cost reduction efforts despite the negative impact of currency effects caused by the appreciation of the Japanese yen, increased SG&A expenses and increased raw material costs.

Consolidated income before income taxes, minority interest and equity in income of affiliates for the quarter totaled JPY 235.0 billion (USD 2,209 million), an increase of 7.7% from the same period in 2007. Income before income taxes, minority interest and equity in income of affiliates set a record high for the fiscal first quarter.

Equity in income of affiliates amounted to JPY 38.1 billion (USD 359 million) for the quarter, an increase of 3.2% from the corresponding period last year. Equity in income of affiliates set a record high for the quarter.