Honda Motor Co. LTD. ADRs $35 – New York symbol HMC

Article Excerpt

HONDA MOTOR CO. LTD. ADRs $35 (New York symbol HMC; Conservative Growth Portfolio, Manufacturing & Industry sector; ADRs outstanding: 1.8 billion; Market cap: $63.0 billion; WSSF Rating: Above average) is Japan’s third-largest carmaker, and the world’s largest producer of motorcycles. It also makes lawnmowers, electrical power generators and snow blowers. Two-thirds of Honda’s sales come from outside of Japan. The company’s revenue grew at a compound annual rate of 11.1%, from $55.4 billion in 2002 (fiscal years end March 31) to $84.3 billion in 2006. Revenue should climb to $92 billion in 2007. Earnings nearly doubled, from $1.40 per ADR (total $2.7 billion) in 2002 to $2.76 per ADR ($5.1 billion) in 2006. (Each Honda American Depository Receipt represents one Honda common share.) Honda sold 3.4 million vehicles in fiscal 2006, and aims to increase sales to 4.5 million in the next five years. Consequently, it plans to open a new $550 million assembly plant in Indiana as well as a new…

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