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Last $33.52 USD
Change Today +0.28 / 0.84%
Volume 939.5K
As of 8:04 PM 03/6/15 All times are local (Market data is delayed by at least 15 minutes).

honda motor co ltd-spons adr (HMC) Key Developments

Lawsuit Against Honda and Takata Alleges Defective Airbag Caused Driver's Gruesome Death

Perdue & Kidd, LLP filed a lawsuit against Honda Motor Co. and Takata Corporation claiming the airbag in Carlos Solis's Honda Accord was defective and killed him after deploying in a minor collision. At least six fatalities and more than 100 injuries have been linked to Takata airbags. On January 18, 2015, Carlos Solis, IV was driving a 2002 Honda Accord in Spring, Texas when he was involved in a minor wreck with another car. The driver side airbag engaged and inflated in the collision. A large piece of metal from the airbag inflator exploded through the airbag. The shrapnel entered Solis's neck, severed his carotid artery and jugular vein, fractured his windpipe, and lodged in his shoulder and cervical spine. The lawsuit details these findings from the autopsy by the Harris County Medical Examiner, who retrieved the metal disc from the body and described it as "foreign object (air bag inflator component)." The metal went so deep no one responding at the scene could see or feel it. Scott Solis, the brother of Carlos, came and attempted to apply pressure to the wound and comfort his brother as he bled and eventually died. Nicole Solis, Solis's widow and administrator of Solis's estate, is suing both Takata Corporation and Honda Motor Co. for the allegedly defective airbag. The lawsuit alleges that Honda and Takata have known about exploding air bag inflators and resulting injuries and deaths for over a decade. The filing claims that Honda and Takata knowingly chose ammonium nitrate, the same highly explosive chemical used in the Oklahoma City bombing, to inflate their airbags. Solis's car was bought used in 2014 at a Houston area car dealer. While the car had been recalled in late 2011, it had never been repaired. Solis never received any notice of any need for repairs. This is one of many lawsuits filed against Honda and Takata over their defective airbags. The lawsuit related to Carlos Solis's death has been filed in Harris County, Texas.

Honda Motor Company to Launch Civic Type R at Geneva Motor Show

Honda Motor Company is launching its Civic Type R at the 2015 Geneva motor show. The model is to arrive at United Kingdom dealerships this summer. It is to compete with similar offerings from Seat and Renault and is to be priced from around GBP 30,000. The vehicle will be available with a choice of a new 2.0-litre turbocharged petrol engine that produces 306bhp and 295lb ft of torque, coupled with a six-speed manual. It features an interior in suede-effect fabric, an aluminium gear knob, a black headlining and black trim with red double stitching.

Honda Motor Co., Ltd., Board Meeting, Jul 29, 2014

Honda Motor Co., Ltd., Board Meeting, Jul 29, 2014. Agenda: To approve dividend of JPY 22.00 per share.

Honda Motor Co., Ltd. Announces Management Changes

Honda Motor Co., Ltd. announced that Takahiro Hachigo, currently the company's Managing Officer, will become Senior Managing Officer effective in April 2015, and will become President, Chief Executive Officer and Representative Director in late June 2015. Takanobu Ito, the current President, Chief Operating Officer and Representative Director, will remain on the board and assume the post of Director and Advisor to Honda Motor. This management succession will occur following the final decision of the Honda Motor Board of Directors after the company's annual shareholders' meeting, scheduled for late June 2015. In 2013, Hachigo's responsibilities shifted to China, becoming Vice President of Honda Motor (China) Investment Co., Ltd. in April, simultaneously becoming Representative of Development, Purchasing and Production (China), Honda Motor, and Vice President of Honda Motor Technology (China) Co., Ltd. In April 2014, Hachigo was promoted to Managing Officer of Honda Motor, a title he currently holds.

Honda Motor Co., Ltd., Board Meeting, Feb 23, 2015

Honda Motor Co., Ltd., Board Meeting, Feb 23, 2015. Agenda: To decide on changes in its operating officers as of April 1, 2015 and its directors as of June 2015.

 

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Valuation HMC Industry Range
Price/Earnings 12.3x
Price/Sales 0.6x
Price/Book 1.1x
Price/Cash Flow 12.3x
TEV/Sales NM Not Meaningful
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