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Disclosure

24 Mar 2022

Author:
Honda Motor

Honda Motor statement

[...]

Ukraine

[...]

Honda started business operations in Ukraine in 1992, at first through a third party distributor.

In 2006, Honda Motor Europe Ltd. established a fully-owned subsidiary, Honda Ukraine LLC.

In 2015, Honda Motor Co., Ltd. established a distributor agreement with the third party, Pride Motor LLC, for motorcycle and automobile sales and Dnipro Motor LLC, for power products sales. Since that point, Honda is no longer operating directly through a company or subsidiary presence in Ukraine.

Due to the humanitarian crisis in Ukraine, Pride Motor LLC, and Dnipro Motor LLC have suspended business operations and Honda has suspended export activities to Ukraine.

Under the Distributorship Agreement, both Pride Motor LLC and Dnipro Motor LLC conduct business operations, in compliance with local laws. Honda holds long-standing relationships with our Ukrainian distributor partners and their staff. We are maintaining regular communication with them during this difficult period.

In light of the humanitarian crisis, Honda Motor Co., Ltd. has donated one million euros to the Japanese Red Cross Society to support humanitarian aid for those affected in Ukraine and neighbouring countries.

The donations will be used to support the crisis response in Ukraine, and the relief efforts in nearby countries hosting refugees.

Russia

In Russia, Honda operates its business under the subsidiary, Honda Motor RUS LLC. Honda Motor RUS is located in Moscow and has been operating since 2004. Business activities are principally the import and wholesale of motorcycles, automobiles, power products and spare parts.

Due to the current situation, all exports of Honda products to Russia have been suspended until further notice.

As the situation remains uncertain, we believe it is not appropriate to comment on future business direction at this point.

We are maintaining regular communication with our entity in Russia to understand the status of our employees and the local business situation.

Based on the company’s long-established Code of Conduct, Honda will seek to always fulfill its corporate social responsibility obligations. With regards to workers rights, Honda is guided by its Sustainability Guidelines, where under ‘Human Rights and Working Condition’ we always have “Respect for the Individual”. We will respect the rights of all employees and suppliers and treat them fairly, ensuring all workers are treated with dignity.

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