Scaling for Sustainable Growth Q4 AND FULL YEAR 2024 EARNINGS CONFERENCE CALL February 13, 2025 Herc Rentals Team and Agenda President & Chief Executive Officer Aaron Birnbaum Senior Vice President & Chief Operating Officer Q&A Larry Silber Mark Humphrey Senior Vice President & Chief Financial Officer Leslie Hunziker Senior Vice President Investor Relations, Communications & Sustainability Agenda Safe Harbor FY 2024 Summary Q4 Operations Review Q4 Financial Review 2025 Outlook Herc Holdings Inc. NYSE: HRI Q ...

Financial Data and Key Metrics Changes - The FY 2025 third quarter cumulative operating profit was 1,139.9 billion yen with an operating profit margin of 7% [7] - Operating cash flow after R&D adjustment remained at the same level year on year at 1,945 billion yen [8] - Profit for the period attributable to owners of the parent company was 805.2 billion yen, down 64.3 billion yen year on year [12] Business Line Data and Key Metrics Changes - Motorcycle unit sales reached 15.5 million units, showing strong global sales [7] - Automobile consolidated unit sales volume decreased by 297,000 units year on year, primarily due to a drop in Asia, especially China [8] - Power products segment saw a decrease in sales mainly in Europe, totaling 2,516,000 units sold [15] Market Data and Key Metrics Changes - In the motorcycle segment, strong demand in India and Brazil, along with economic recovery in Vietnam, led to increased sales [10] - Automobile sales increased in Japan and the United States, but total sales dropped year on year due to a severe market environment in China [10][11] - The Thai motorcycle market is experiencing a decline due to difficulties in financing, impacting both motorcycle and automobile sales [70][71] Company Strategy and Development Direction - The company plans to maintain its share in the Thai motorcycle market while waiting for recovery [71] - Focus on improving profitability in the automobile business through the development of next-generation hybrids and battery EVs [50][89] - The company aims to optimize its equity ratio through share repurchases while continuing to invest in future growth [76] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges in the automotive market, particularly in China, and emphasized the need for strategic adjustments [100] - The company expects to maintain high profitability levels in the motorcycle segment while preparing for the launch of new battery EV models [88][90] - Management expressed cautious optimism regarding the impact of potential tariffs and regulatory changes under the new administration [117][120] Other Important Information - The company has maintained its consolidated financial forecasts for FY 2025, with operating profit expected to be 1,420 trillion yen and profit for the year at 950 billion yen [8][13] - A resolution was made to repurchase 1.1 trillion yen worth of company shares, with 184.9 billion yen already acquired as of January 31, 2025 [10][14] Q&A Session Summary Question: Inquiry about the full-year operating profit and expenses - Management explained that the increase in R&D and SGA expenses at the end of the fiscal year would lead to a decline in operating profit for the fourth quarter [32][33] Question: Clarification on North American EV incentives - Management noted a slight increase in North American incentives but mentioned that they were able to reduce EV incentives compared to previous estimates [36][37] Question: Measures to improve automobile profitability - Management highlighted the profitability of ICE and hybrid vehicles and discussed plans for next-generation hybrids to improve overall profitability [48][51] Question: Impact of declining motorcycle sales in Thailand on automobile business - Management confirmed that the decline in motorcycle sales due to financing difficulties also affects the automobile market, but they aim to maintain market share [71][72] Question: Continuation of share repurchase despite integration talks with Nissan - Management clarified that the share repurchase program was initiated to optimize the equity ratio and was not directly related to the integration talks [75][76] Question: Future growth potential in the motorcycle and automobile segments - Management expressed confidence in the growth potential of the motorcycle segment in emerging markets and outlined plans for new hybrid and battery EV models [88][90]

Group 1 - The $60 billion merger between Honda and Nissan has been called off due to Nissan's "pride and insufficient alarm about its predicament" [1] - Honda revised the terms of the merger abruptly, proposing that Nissan become a subsidiary, indicating potential bad blood between the two companies [2] - The merger talks were formally announced in December, with the goal of better navigating the "dramatic changes" in the automotive industry [3] Group 2 - If the merger had proceeded, it would have created the world's third-largest automaker, with considerations to include Mitsubishi and Renault in the alliance [3] - Foxconn, a Taiwanese electronics giant, has expressed interest in acquiring a stake in Nissan following the cancellation of the merger [2]

Japanese automakers Honda, Nissan and Mitsubishi said Thursday they are dropping their talks for business integration.The automakers agreed to end their agreement regarding the consideration of the structure for collaboration, their joint statement said.Honda Motor Co. and Nissan Motor Corp. announced in December that they were going to hold talks to set up a joint holding company. 3 Honda, Nissan and Mitsubishi are no longer discussing a business integration. REUTERSMitsubishi Motors Corp. had said it wa ...

Reuters on Feb. 6 had reported that Nissan "looks set to step back from" merger talks with rival Honda.Japanese automakers Honda and Nissan said Thursday they would terminate merger talks, ending speculation over the fate of a $60-bllion deal that was slated to create the world's third-largest auto company by sales volumes.The deal fell apart due to Nissan's "pride and denial," as well as its refusal to close factories, while Honda's move to make the carmaker its subsidiary further clouded the fate of the d ...

编译 / 钱亚光 设计 / 师 超 来源 / www.ionna.com, www.autonews.com, electrek.co 公共充电设施不足、运行状况不良是美国电动汽车车主面临的一个问题，也是美国电动汽车推广的一个主要障碍。据 J.D. Power 的数据，2024 年第三 季度约有五分之一的充电尝试未能成功，主要原因是充电桩离线或损坏。 2月4日，8家全球汽车制造商齐聚美国北卡罗来纳州阿佩克斯的首个 IONNA 充电站和位于北卡罗来纳州达勒姆的新总部及客户体验实验室，共同举行 剪彩仪式，标志着其在美国本土打造一流的充电网络，由设计、工程到建设全部完成，从公开测试阶段过渡到全国充电网络部署阶段。 IONNA 是一家新兴的合资企业，2023 年 7 月首次宣布成立。它相当于北美汽车制造商充电网络联盟，创始成员包括宝马、通用汽车、起亚、本田、现 代、奔驰、Stellantis和丰田。它与欧洲的IONITY类似，那是由七家汽车制造商支持的欧洲充电网络。 汽车制造商们表示，计划利用联邦和州政府在公共充电方面的投资，结合自身公共和私人资金，迅速开发并实施一个覆盖北美的"高功率"电动汽车充电 网络。每个即将建 ...

编译 / 钱亚光 设计 / 琚 佳 来源 / www.nikkei.co.jp, www.asahi.com,www.ft.com 据《日经社》报道，日产汽车将暂停与本田汽车的合并谈判，因为两家日本汽车制造商未能就整合率等关键规定达成一致。 日产表示，双方仍有望在2月中旬之前提供有关谈判的最新情况。"这篇文章不是基于日产公布的信息。我们的目标是在2月中旬之前敲定我们的方向， 并将在那时宣布。"一位女发言人说。 据日本《朝日新闻》早些时候援引未具名消息人士的话报道，由于双方董事会会议进展缓慢，这两家公司可能会终止谈判。 去年 12 月，这两家汽车制造商曾表示，计划在 2026 年 8 月前成立一家合资控股公司，届时双方的股票都将退市。 之后，双方就合并事宜展开讨论，但仅仅 40 多天后，谈判就已恶化。据知情人士透露，在谈判初期，双方就股权比例和资产估值问题发生争执，紧张 局势随之出现。 本田面临着来自股东和内部的压力，要求其全面掌控日产，以扭转这家陷入困境的汽车制造商的局面。本田最新的提议，偏离了最初将两家公司置于一 家共同拥有的控股公司之下的计划，而这种结构本可以为保留日产的品牌和决策权提供空间。 日产汽车财 ...

KEY TAKEAWAYSHonda Motor's U.S.-listed shares are rising around 6% in premarket trading following reports that the Japanese automaker’s plans to merge with ailing domestic rival Nissan are in jeopardy.According to the Financial Times, which cited people familiar with the matter, Honda unexpectedly came in with a new structure that would have made Nissan a fully owned subsidiary.A deal would have helped cut costs and help the automaker compete globally at a time when Chinese rivals are expanding their market ...

Nissan is set to call off merger talks with rival Honda, a source said on Wednesday, abandoning a $60 billion-plus tie-up that would have created the world’s no. 3 automaker and raising questions about how it will drive a turnaround by itself.Talks have been complicated by growing differences between the two Japanese automakers, two people familiar with the matter, both of whom declined to be named because they were not authorized to speak to the media, said earlier.Nissan shares slid more than 4% on the To ...

In this article7267.T-JPA Honda sedan moves down the assembly line on Jan. 28, 2025 at the automaker's assembly plant in Marysville, Ohio. Michael Wayland / CNBCMARYSVILLE, Ohio — Honda Motor is launching the next generation of its manufacturing in a historically unusual place for the 75-year-old Japanese automaker: Ohio.Honda is in the midst of completing more than $1 billion in new investments — upped Wednesday from an initially announced $700 million — in the state this year. Upgrades most notably includ ...