Nishizono's questions to Honda Motor Co Ltd (HMC) leadership • Q1 2026
Question
Mr. Nishizono from NHK asked for the specific assumptions underlying Honda's full-year tariff impact forecast, including the assumed start date for the new 15% US-Japan automotive tariff.
Answer
Masao Kawaguchi, Head of Accounting and Finance Unit, explained that the gross tariff impact forecast was revised down from JPY 650 billion to JPY 450 billion. This revision resulted from production reallocation and a detailed review of parts eligibility under USMCA rules. Mr. Kawaguchi specified that the current forecast assumes the new 15% US-Japan auto tariff will be implemented starting in September.