Honda Celebrates 25 Years on New York Stock Exchange
2/14/2002 5:15:00 PM
Honda Motor Co., Ltd. (HMC) celebrated the 25th anniversary of its listing on the New York Stock Exchange (NYSE) this morning by showcasing its technological strength with one of the most unique opening bell ceremonies in NYSE history. Honda's ASIMO, the world's most advanced humanoid robot, rang the opening bell for trading. Honda became the first Japanese automaker to list on NYSE in 1977.
"We believe it is important to be close to our customers," said Honda President and CEO Hiroyuki Yoshino. "Being listed on NYSE makes us close to the financial community and close to one of the most important markets in the world. A lot has happened in the 25 years since we listed with the NYSE. We now have eight major plants in America. Listing with NYSE was an important step in our growth in America."
Honda, which trades on NYSE as American Depository Receipts (ADRs), opened for trading on NYSE February 11, 1977, at a price of $25 7/8 per ADR. At the time, there were no other Japanese automakers listed on NYSE. When first listed in 1977, one ADR was equal to ten shares of common stock. Last month, Honda implemented the second ratio change since its listing on NYSE that is intended to make the ADRs more appealing to individual investors. Today, two ADRs are equal to one share of common stock. Honda's closing stock price Wednesday, February 13 was $19.75.
Honda is currently listed on nine stock exchanges around the world, including five Japanese stock exchanges (Tokyo, Osaka, Nagoya, Sapporo and Fukuoka) and four overseas stock exchanges -- NYSE, London, Euronext Paris, and Swiss SE. The Company's shares have been listed on the Tokyo Stock Exchange (TSE) since 1958.
Honda's ASIMO is the most advanced humanoid robot in history. Created as a partner for people and to provide the potential for a new horizon in mobility, ASIMO represents an unprecedented achievement in bi-pedal (two-legged) humanoid robotics. For more than 50 years a leader in creating advanced mobility technologies through its lineup of automobiles, motorcycles and power equipment products, Honda began pursuing the dream of humanoid robotics 20 years ago and has continued to advance the technology leading up to this U.S. debut of ASIMO at NYSE.
Honda is the world's preeminent engine-maker, with 2001 production of more than 12 million engines globally for its diverse line-up of automobiles, motorcycles and power products. Honda has 120 manufacturing facilities in 32 nations around the world. In addition to being one of the world's leading automakers, Honda is the largest motorcycle producer in the world.
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