Introduction:

Atlas Honda Limited is a public listed company which was incorporated on

October 16, 1962. It is a joint collaboration between Honda Motor Company Limited
Japan, the largest and most reputed motorcycle brand in the world, and Atlas Group, one
of Pakistan’s most renowned business conglomerates. The Company is principally
engaged in progressive manufacturing and marketing of motorcycles and spare parts.

Atlas Honda Limited is the largest motorcycle manufacturer in Pakistan with the
strongest brand value and highest customer loyalty. The Company is considered a pioneer
of motorcycle industry in the country and has been leading two wheeler market
successfully for over 50 years.

The Company currently has a production capacity of over 1.35 million units per
annum and continues to maintain its status as market leader both in terms of volume and
quality. It also exports its motorcycles and spare parts to Bangladesh and Afghanistan.

With highest quality products, state of the art manufacturing facilities, largest
dealership network & impeccable after sales service, Atlas Honda Limited is today
considered a benchmark for two wheeler manufacturing. It has been proudly and
successfully fulfilling its role as the flag bearer of motorcycle industry in Pakistan.

As one of the largest tax payers in the private sector and being one of the best
employers in the country, Atlas Honda Limited stands as a beacon of light for the
corporate, social and intellectual sectors of Pakistan.

History:
The company was created in 1988 after Panjdarya and Atlas Autos merged. AHL
manufactures and markets Honda motorcycles in collaboration with Honda Motor
Company. The company also manufactures various hi-tech components in-house in
collaboration with leading parts manufacturers like Showa Atsumitech, Nippon
Denso and Toyo Denso. The company also exports motorcycles to Sri Lanka,
Afghanistan and Bangladesh.

Atlas Honda has Pakistan's largest in-house manufacturing capability at

its Karachi and Sheikhupura plants, which include an R&D wing and tool making
facilities through CAD/CAM. The annual assembly production capacity of AHL is 1.35
million units, with 150,000 units from the Karachi plant and 1.2 million units from the
Sheikhupura plant.[
Registered Office:
1-Mc Leod Road, Lahore-54000

Manufacturing Facilities
 Sheikhupura plant:

26-27 KM, Lahore-Sheikhupura Road, Sheikhupura-39321.

This plant is the country’s largest in-house manufacturing facility for motorcycles and
related spare parts. It’s a modern state of the art factory that is involved in
manufacturing of all the models of the Company. Its spread over 27 acres.

 Karachi plant:

F-36, Estate Avenue, S.I.T.E., Karachi-75730.

This is the mother plant of the Company. Atlas Honda Limited started its operations
from here back in 1963. It is spread over 5 acres and is used for manufacturing CD70
(one of Company’s most famous models). It also operates as Company’s Head Office.

Branch Offices:
 1st Floor, 28-Mozang Road, Lahore
 Islamabad Corporate Center, Plot No. 784/785, Golra Road, Islamabad
 1st Floor, Meezan Executive Tower, 4-Liaquat Road, Faisalabad
 Azmat Wasti Road, Multan
 2nd Floor, Dawood Centre, Autobhan Road, Hyderabad.
 Makhdoom Altaf Road, West Sadiq Canal Bank, Near City School, Rahimyar Khan

Showroom:
West View Building, Preedy Street, Saddar, Karachi

Warranty & Training Centers:

 1st Floor, 28-Mozang Road, Lahore
 Azmat Wasti Road, Multan
Financial information
Authorized Share Capital:
Rs. 1,500,000 thousand (150,000,000 shares)

Paid Up Capital:
Rs. 1,034,066 thousand (103,406,613 shares)

Auditors:
Shine wing Hameed Chaudhri & Co. Chartered Accountants

Legal Advisors:
Mohsin Tayebaly & Co.

Shares Registrar:
Hameed Majeed Associates (Pvt.) Limited
H. M. House, 7-Bank Square, Shahrah-e-Quaid-e-Azam, Lahore

Board of Directors:
 Aamir H. Shirazi (Chairman)
 Yukitoshi Fujisaka
 Sanaullah Qureshi
 Hirofumi Yada
 Jawaid Iqbal Ahmed
 Hironobu Yoshimura
 Abid Naqvi
 Saquib H. Shirazi (Chief Executive Officer)
Vision & Mission:
 Vision:

Market leader in the motorcycle industry, emerging as a global competitive

centre of production and exports.

 Mission:
A dynamic growth oriented company through market leadership, excellence in
quality and service and maximizing export, ensuring attractive returns to equity
holders, rewarding associates according to their ability and performance, fostering
a network of engineers and researchers ensuing unique contribution to the
development of the industry, customer satisfaction and protection of the
environment by producing emission friendly green products as a good corporate
citizen fulfilling its social responsibilities in all respects.

Strategic Goals
Customers:
Our Customers are the reason and the source of our business. It is our joint
aim with our dealers to ensure that the customers enjoy the highest level of
satisfaction from use of Honda motorcycles.

Quality:
To ensure that our products and services meet the set standards of
excellence.

Local Manufacturing:
To be the industry leader in indigenization of motorcycle parts.

Technology:
To develop and maintain distinct business advantages through continuous
induction of improved hard and soft technologies.
Shareholders:
To ensure health and viability of business and thus safeguarding
shareholders’ interest by maximizing profit. Payment of regular satisfactory
dividends and adding value to the shares.

Employees:
To enhance and continuously update each member’s capabilities and
education and to provide an environment which encourages practical expression of
the individual potential in goal directed team efforts and compensate them
attractively according to their abilities and performance.

Corporate Citizen:
To comply with all Government laws, rules and regulations and to maintain
a high standard of ethics in all operations and to act as a responsible member of the
society.

Quality Policy:
 Commitment to provide high quality motorcycles & parts.
 Right work in first attempt and on time.
 Maintain and continuously improve quality.
 Training of manpower and acquisition of latest technology.

 Safe, clean and healthy environment.

 Market leadership and prosperity for all.

Head Office:
 Minato
 Tokyo
 Japan
Automobiles:

"A four-seater with a top speed of 100 km/h, priced at 150,000 yen": This
was the description of a car foreseen in an executive summary from the "People’s
Car" concept, a promotional program announced by the Ministry of International
Trade and Industry in May 1955. It immediately established the engineering target
for those who would be creating the passenger cars of the coming era. Eventually
several mini passenger models debuted in answer to MITI’s proposal, including the
Suzu-Light (October 1955) and Subaru 360 (March 1958).
 Honda’s S360 sportscar was unveiled on June 5, 1962, during the 11th
National Honda Meeting General Assembly held at Suzuka Circuit, the
construction of which was still under way.

Naturally, consumers expected Honda to join the trend and begin automobile
production. However, Soichiro Honda remained somewhat cautious about the
matter, offering his opinion in the December 1959 issue of the Honda Company
Newsletter (Vol. 50): "We shouldn’t rush into auto production," he stated, "until
we conduct thorough research and are absolutely confident that every requirement
has been fulfilled, including the performance of our cars and production facilities."

Third Research Section: A Starting Point for Product Development

Nearly fifty engineers were hired by the Shirako Plant’s R&D Center from
the end of 1957 through 1958, all of whom had prior engineering experience.
Then, in September 1958, the Third Research Section emerged in preparation for
car development. This section was to be responsible for all aspects, from product
design through vehicle testing. In June of the same year, Motoo Nakajima of the
Body Design Section, who was heading the group in charge of steering and
suspension system design, received a rather unexpected call from Yoshihito Kudo,
the general manager of the R&D Center. It was then that Nakajima was given an
unofficial order of transfer to the Third Research Section.

The XA170 test car being brought into the repair shop at Fujiyoshida during
a test run. During test drives outside the Honda premises, engineers were
prohibited from wearing work clothes. Instead, they had to work undercover, like
secret agents.

"Honda has decided to develop automobiles," Kudo said, "and I want you to
be involved in development. This plan will be handled in strict confidence, for the
time being. We can only assign a few people to the project, so be prepared to do
more than just body design." With that, seven young engineers joined the new
section. Their combined experience, though varied, was consistent with Honda’s
goal as a new producer of automotive transportation. Some of the engineers were
experienced in airplane development, while others had worked on three-wheeled
vehicles during their employment at other companies.

Thus, did the Third Research Section become the prime force in car
development at Honda.
 The section’s initial task was to develop a mini automobile that would meet
the "People’s Car" concept requirements. Drawings were issued in October 1958,
and a prototype vehicle was completed the following January, going under the
development code "XA170."

The XA170 made use of Honda’s renowned expertise in motorcycle racing

with a forced-air-cooled, four-cylinder OHC V aluminum powerplant. Moreover,
the FF car adopted a semi-monocoque structure with a flat floor so that it could be
transformed into a sedan simply by adding rear seats. Since the prototype had been
constructed specifically for test-drives, the fenders and hood were made with
formed sheet steel. Patches of fabric constituted the sections where the roof and
doors should be.

In the middle of the XA170’s test series, however, the team received an
order from Mr. Honda himself for the development of a sportscar. Therefore, in the
fall of 1959, the second prototype of XA190 two-seater was completed.
Subsequently, the team took up the development of a truck, this time at the request
of Senior Managing Director Takeo Fujisawa. It was an effort that ultimately led to
the development of Honda’s XA120 mini truck.

Soichiro Honda had given the order to develop a sports car, because he
thought it was better to create new demand rather than compete against more
established manufacturers that already had a share of the market. He also believed
that, as was the case with motorcycles, Honda should develop racecars and test
them in actual competition in order to obtain as much expertise and knowledge as
quickly as possible. This, he said, would elevate Japan’s automotive industry to a
level of expertise and influence equal to the international manufacturers.

Fujisawa, on the other hand, suggested that the team develop a mini truck
because he knew from society’s needs and market data that the demand for
automobiles was mostly in the category of commercial vehicles. Furthermore, he
had considered the fact that Honda would be selling its automobiles through
motorcycle dealers.

An initial mini truck prototype was completed in the summer of 1960, after
which it went through repeated tests in order to enhance the specifications. These
changes resulted in the 2XA120 and 3XA120 units that followed.
Power Products:

Yea
Key milestones
r

195 ・Market launch of Honda's first power product, the H-ｔ ype
3 general-purpose engine

195
・Market launch of Honda's first tiller, F150.
9

196 ・Start of power products exports from Japan (first destination:

3 France)

196 ・Development of micromini generator, E40

4 ・Market launch of outboard engine, GB30

196
・Market launch of Honda's first portable generator, E300
5

196 ・Cumulative power products production reaches 1 million units

9 ・Market launch of Honda's first water pumps, WL20

197
・Establishment of Kumamoto Factory
6

197
・Market launch of Honda's first walk-behind lawn mower, HR21
8

197 ・Establishment of Asaka Higashi R&D Center as a dedicated

9 power products development center
198 ・Market launch of Komame F200 lightweight mini-tiller
0 ・Market launch of HS35 snow thrower

198
・Cumulative power products production reaches 5 million units
1

・Start of production at power products production plant at

198
Hamamatsu Factory
3
・Market launch of GX Series general-purpose engines

198
・Start of lawn mower production in the U.S.
4

198 ・Market launch of Honda's first riding mowers, HT3810/ HT3813

5 ・Cumulative power products production reaches 10 million units

198
・Start of power products production in France
6

198 ・Start of general-purpose engine and water pump production in

7 Thailand

・Start of lawn mower production in Australia

198
・Start of generator and general-purpose engine production in
8
India

199
・Cumulative power products production reaches 20 million units
2

199
・Start of generator production in China
5
 ・Market launch of GX22/31, the world’s first 360-degree-
199
inclinable 4-stroke engines
7
・Cumulative power products production reaches 30 million units

200
・Cumulative power products production reaches 40 million units
0

・Completion of construction of outboard engine production plant

(Hosoe Plant at Hamamatsu Factory, currently Hosoe Outboard
200
Engine Plant)
1
・Market launch of ihs1390i, the world’s first hybrid snow
thrower

200 ・Market launch of the world's lightest 4-stroke engine, GX25

2 ・Cumulative power products production reaches 50 million units

200 ・The 50th anniversary of Honda’s Power Products (currently Life

3 Creation) business

200
・Cumulative power products production reaches 60 million units
4

200 ・Completion of construction of power products production plant

5 at Kumamoto Factory

・Cumulative power products production reaches 70 million units

200
・Strengthening of R&D system and capability at Asaka Higashi
6
R&D Center and the establishment of Power Products R&D Center

200
・Cumulative power products production reaches 80 million units
8
 ・Market launch of Pianta FV200 mini-tiller powered by
200
household butane gas canister
9
・Cumulative power products production reaches 90 million units

201 ・Market launch of Enepo EU9iGB generator powered by

0 household butane gas canisters

201 ・Cumulative power products production reaches 100 million units

1 ・Market launch of BF250 large-sized 4-stroke outboard engine

201 ・Change in business operation name from “General-purpose” to

2 “General-purpose power products”

・The 60th anniversary of Power Products (currently Life Creation)

201 business
3 ・Market launch of HSL2511 large rotary snow thrower equipped
with the world’s first auger assist function

201
・Start of lease sales of Honda Walking Assist Device
5

201
・Market launch of lib-AID E500 portable power source
7

・Change in business operation name from “Power Products” to

201 “Life Creation”
9 ・Power Products R&D Center was renamed as the Life Creation
Cente
Motorcycles:
The unwavering passion evolving the Fireblade: not maximizing its
specifications on paper, but bringing the ultimate “joy of riding” to as many riders
as possible. From the origin, each model has evolved significantly.

First-Generation・CBR900RR

Aiming to create a high-performance motorcycle that could defeat the

RVF750 in the Suzuka 8 Hours Endurance Road Race, Honda developed an
advance research stage model that led directly to the CBR900RR, which debuted in
1992. With the objective of equaling the acceleration performance of competitors’
flagship sport bikes, Honda increased the stroke of its inline 4-cylinder 750cc
engine and raised displacement to 893cc. Complementing this excellent power
performance were the bike’s dry weight of 185 kg, wheelbase of 1,405 mm and
body almost identical to that of the advance research stage model. It all added up to
completely original super sport bike packaging and a motorcycle so easy to control
it seemed to read the rider’s mind. By developing the most lightweight and
compact bike in its class, Honda ushered in the era of super sport bikes focused on
superior handling and control.

1994・CBR900RR
 Launched two years after the first-generation machine, the 1994 CBR900RR
featured enhanced engine efficiency and a fully adjustable front fork with superior
road-holding ability. Thanks to these features, the ultimate handling machine had
even more appeal than before. To take the lightweight design of the original model
to the next level, every part of the bike was refined, with the upper cowl stay going
from steel to aluminum and the cylinder head cover from aluminum to magnesium.
The styling of the bike also changed dramatically. The independent dual lights
became irregular-shaped multi-reflector lights known as “tiger eyes,” and the cowl
featured surfaces flush with the lines of the bike.

1996・CBR900RR

The twin spar frame did not vary in appearance from that of the 1992-1995
models, but it became even more lightweight and offered optimized rigidity. Also
new were the fuel tank shape and the riding position, resulting in even better
handling. The exterior styling featured a new rear cowl with enhanced
aerodynamics. In the engine, bore increased by 1 mm for a bore and stroke of 71
mm x 58 mm, increasing displacement from 893cc to 918cc. Enhancing rideability
were 4 PS-higher maximum output of 128 PS and a new throttle position sensor in
the carburetor. Thanks to the new stainless steel exhaust pipe, new fuel tank shape
and the elimination of the fuel pump, the 1996 CBR900RR weighed in at 183 kg—
1 kg lighter than the first-generation model.

1998・CBR900RR

From the beginning, the motorcycles in the CBR series have been designed
to be as lightweight as possible. For 1998, 80 percent of the parts in the 1996-1997
CBR900RR were redesigned. The team aimed for lightweight design even at the
level of a single bolt, reducing dry weight to 180 kg and further enhancing
dynamic performance. A swingarm pivot with enhanced rigidity; a lightweight,
highly rigid swingarm with a new tapered shape; a head pipe with revised
dimensions; and other new design elements combined to take high-speed stability
to an even higher level. Riders also appreciated the extra power that the model had
to offer, thanks to new engine settings that raised horsepower by 2 PS to 130 PS.

2000・CBR900RR
（Marketed in North America as CBR929RR）
 Until the 2000 model year, the engine of the CBR900RR had not changed
significantly from that of the advance research stage model, but it would now be
completely redesigned. It became the first CBR series engine to adopt a fuel
injection system (PGM-FI, Programmed Fuel Injection), displacement increased to
929cc, and maximum output rose significantly, to 148 PS. Both the body and the
frame were completely redesigned. An independent U-shaped plate held the
swingarm pivots, resulting in a semi-pivotless frame. Without raising rigidity more
than was necessary, this mechanism allowed the rear section to be optimally
flexible during cornering. The result was a combination of superior cornering
stability and extremely light handling worthy of a super sport bike. Now more than
ever, the CBR900RR had become a super sport bike that any rider could enjoy.
Further, in keeping with the lightweight identity of the series, the exhaust pipe and
a portion of the muffler were made of titanium, helping to reduce dry weight to
170 kg—15 kg lighter than the first-generation model.

2002・CBR900RR
（Marketed in North America and Japan as CBR954RR）

The last of the series to bear the name CBR900RR, the 2002 model featured
higher displacement of 954cc and higher maximum output of 150.9 PS (European
specification).
 While piston bore rose from 74 mm to 75 mm, greatly reduced piston and
piston pin weight prevented the extra vibration and stress associated with an
increase in displacement. Redesigning the crankshaft and crankcase helped reduce
total engine mass and friction, resulting in greatly enhanced performance and
responsiveness. Further advances in lightweight design produced a 2002 model
that had a dry weight of just 168 kg—2 kg lighter than the 2000 model. While
offering more power than ever, the 2002 model held true to the basic concept of
the most lightweight super sport bike offering total control. With its superior
handling and easy-to-control body size, the 2002 CBR900RR earned acclaim for
emulating the best aspects of the first-generation model with extra edge.

2004・CBR1000RR
 The seventh-generation model featured the Unit Pro-Link rear suspension, a
center-up exhaust system and other advanced technologies from the world of
racing. Designed with participation in the Superbike World Championship and
other racing events in mind, the lightweight, compact 998cc engine had several
new features. The Programmed Dual Sequential Fuel Injection (PGM-DSFI)
system featured two independent injectors per cylinder, the second of which would
activate when the throttle was one-quarter open at 3,000 rpm or higher, resulting in
enhanced output. The direct air induction system helped the engine offer excellent
output characteristics and quick throttle response in the mid to high rpm ranges.
Ready not only for the street but also the racing circuit, the CBR1000RR opened
up a new world of possibilities for the CBR series of super sport bikes.

2006・CBR1000RR

While retaining the basic structure of the 2004 model year engine, the 2006
model year engine featured straight cylinder head intake ports and larger exhaust
ports. Adjustments to the shape and timing of the valves raised the efficiency of
combustion, intake and exhaust, resulting in a more advanced engine with stronger
torque at low to midrange speeds. The diameter of the front brake disc was
increased from 310 mm to 320 mm while its thickness was reduced from 5 mm to
4.5 mm, and the rear brake featured a new and more lightweight and compact
caliper. These changes raised braking performance while reducing vehicle weight.
2008・CBR1000RR

Under the concept All the Best in Super Sport, the ninth-generation

CBR1000RR was designed to be No. 1 in rideability, design and power. The model
featured a back torque limiter system adopted from the RC212V, as well as an
assist slipper clutch that reduced clutch lever load. The traditional rideability of the
CBR series was also enhanced. Lightweight wheels and monoblock brake caliper
contributed to a design that was more lightweight and compact, while the new
shorter muffler helped concentrate mass. The upper cowl featured reduced surface
area in parts farther from the bike’s center of gravity, and the seat cowl was made
more compact. With these and other features, the design of the model helped make
vehicle mass as concentrated as possible.

2009・CBR1000RR
 The CBR1000RR ABS featured the world’s first Electronically Controlled
Combined ABS for a super sport bike. This Brake-by-Wire system converts
hydraulic pressures generated by the rider’s brake lever and pedal input into
electronic signals, which in turn communicate to a power unit how much braking
force to apply. Since the computer offers precise control of front-rear braking force
distribution and ABS operation, the system accommodates the vehicle
characteristics that have been an issue in the implementation of ABS on super sport
bikes: the lightweight body, short wheelbase and high center of gravity that cause a
high degree of pitching during acceleration and deceleration. In addition,
positioning the system in the center of the bike’s layout helped reduce unsprung
weight and concentrate mass, thereby preserving the super sport bike’s exceptional
dynamic performance.

2010・CBR1000RR

While based on the 2009 model, the eleventh-generation CBR1000RR was

refined in every area to offer riders even sportier riding enjoyment. To mitigate
torque variations during cruising, the diameter of the ACG flywheel was increased,
and the crankshaft flywheel attachment point was made more rigid, resulting in a
6.87 percent increase in the inertial mass of the crankshaft and related parts. The
controllability of throttle operation was also enhanced. To prevent an increase in
weight, the radiator fan motor was made more compact, the thickness of the
exhaust pipe flange was reduced, and the engine head sealing bolt was changed to
aluminum. Refinements such as these helped take the completeness of the model to
the next level.
2012・CBR1000RR

Marking the 20th anniversary of the CBR series, the 2012 CBR1000RR has
been designed with a focus on the ease of handling that is indispensable to a super
sport bike. In every aspect, the motorcycle has reached a new level of maturity.
The front and rear suspensions, which have a significant impact on handling, have
both been given completely new structures. The rear uses a Balance-Free Rear
Cushion, in which a valve-less piston slides inside the cylinder, pushing out oil that
passes through a separate specialized component to generate damping force. The
front uses a Big Piston Front Fork with a larger pressure-receiving area for
smoother generation of damping force. The engine features revised fuel injection
settings for enhanced control when the throttle starts to open from fully closed,
giving riders access to high power with even greater peace of mind.

2014・CBR1000RR

Based on the 2012 model, the 2014 CBR1000RR was designed to improve
strong output characteristics and chassis controllability for sports riding through
refining each aspect, such as modifying the intake/exhaust port design to enhance
intake/exhaust efficiency and employing a cross-ratio transmission, and modifying
suspension settings. An additional model, the CBR1000RR SP was also developed
as the “Edge of CBR.”
 Based on the CBR1000RR, the single-seat SP model further pursued the joy
of sports riding, equipped with Öhlins suspension front and rear, Brembo front
calipers, high-grip Pirelli tires, and lighter seat rails and a specifically designed
single seat-cowl to reduce weight.

2017・CBR1000RR

The 2017 model pursues nimble handling through exhaustive weight-

reduction and mass centralization, while increasing the power unit’s output and
handling ease, to evolve “Total control - maximizing the joy of riding,” the
development theme common to every generation model. The rider is supported
with electronic control technology using Honda’s unique algorithms to estimate
bike posture and control various devices.

The CBR1000RR SP is equipped with an Öhlins Smart EC system that optimizes

damping characteristics according to road conditions, and Brembo front calipers.
To reduce weight and centralize mass, the SP is equipped with a lithium ion
battery, and a worldwide production model-first titanium fuel tank.

Honda Jet:
2015

Delivery of Honda Jet begins

December
Honda Jet receives type certification from Federal Aviation
Administration
December

HondaJet begins world tour and makes debut in Japan and Europe
April to May
Honda Aero receives FAA production certificate for HF120
turbofan jet engine
March

2014

Honda Aero launched frst jet engine produced in its new facility
November
First production HondaJet takes to the skies (June)

GE Honda Aero Engines delivers first shipset of HF120 production

engines to Honda Aircraft Company
May
2013

HondaJet achieves FAA type inspection authorization

December

Customer service facility receives FAA part 145 certification

December
HF120 turbofan engine receives FAA certification (December)

Fifth FAA-Conforming HondaJet achieves first flight

May
2012
Construction of Honda Jet maintenannce, repair and overhaul
(MRO) facility begins
September
Fourth FAA-Conforming HondaJet commences test flights
May
2011

Third FAA-Conforming HondaJet commences test flights

November

FAA-Conforming HondaJet reaches maximum operating

altitude
May
HondaJet sets record for maximum speed
March
2010

Structural testing conducted on second FAA-Conforming

HondaJet
July
FAA-Conforming HondaJet achieves first flight with HF120
engine
December
2008

Honda commences European sales of HondaJet

May
HondaJet sales expanded to Canada and Mexico
March
2007

Honda Aero launched begins construction of headquarters

and compact turbofan engine manufacturing facility
November

GE Honda begins performance verification testing of HF120

engine
September
Honda Aircraft Company begins constructions of
headquarters and HondaJet manufacturing facility
June
2006

HondaJet goes on sale in the U.S.

October
Honda established Honda Aircraft Company
August

Honda announces entry into aircraft market with HondaJet

July
2005
Experimental HondaJet makes public world debut
July
2004

GE Honda Aero Engines established

October
Honda Aero, Inc. established
July

R&D Center for aviation engines established in Japan

July
2003

Experimental HondaJet with HF118 engine makes first test

flight
December
Honda develops HF118 engine for the HondaJet
December
2002

Honda conducts high altitude test of HF118 engine

2001
Honda establishes HondaJet research facility in North
Carolina, U.S.
1999

Honda begins development of HF118 compact turbofan jet

engine
1997

HondaJet project officially begins

1996
MH-02 aircraft completes test flights
August
1995

Honda conducts successful high altitude testing of HFX-01

turbofan engine
1993

Honda conducts first test flight of MH-02, the world's first

all-composite experimental business jet
March1988
COMMENCEMENT OF HONDA ATLAS:
Honda Atlas was incorporated on 4 November 1992, while the joint venture
agreement was signed on 5 August 1993. The manufacturing plant was inaugurated
17 April 1993 and the first car rolled off the assembly line on 26 May 1994. By
July 1994, six dealerships were established in Karachi, Lahore, and Islamabad.
Parent: Honda of Japan (51%)
Type: Joint venture

IAS 16
Summery:
International Accounting Standard 16 Property, Plant and Equipment or IAS
16 is an international financial reporting standard adopted by the 
Recognition and measurement:
IAS 16 prescribes that an item of property, plant and equipment should be
recognised (capitalised) as an asset if it is probable that the future economic
benefits associated with the asset will flow to the entity and the cost of the asset
can be measured reliably.[4] Future economic benefits occur when the risks and
rewards of the asset's ownership have passed to the entity.[5]
The standard also discusses the accounting treatment of parts of property, plant and
equipment which may require replacement at regular intervals and the
capitalisation of inspection costs.[1]
Items of property, plant and equipment should be measured at cost,[6] which
includes its original purchase price, any costs necessary to bring the asset to the
location and condition for its intended use (e.g. site preparation, delivery and
handling, installation, related professional fees for architects and engineers), and
the estimated cost of dismantling and removing the asset and restoring the site.[1]
Measurement after recognition:
IAS 16 permits two accounting models for measurement of the asset in periods
subsequent to its recognition, namely the cost model and the revaluation model.[7]
 Under the cost model, the carrying amount of the asset is measured at cost
less accumulated depreciation and eventual impairment (similar to the
inventory's Lower of cost or market prudent principle). Under the cost model,
the impairment is always recognised (debited) as expense.
 Under the revaluation model, the asset is carried at its revalued amount,
being its fair value at the date of revaluation less subsequent depreciation and
impairment, provided that fair value can be determined reliably.[1]
o If a revaluation results in an increase in value, it should be credited to
equity (through other comprehensive income), unless it represents the
reversal of a revaluation decrease of the same asset previously recognised as
an expense, in which case it should be recognised as income.[5]
o An asset should also be impaired in accordance with IAS
36  Impairment of Assets if its recoverable amount falls below its carrying
amount.[1] Recoverable amount is the higher of an asset's fair value less
costs to sell and its value in use (estimate of future cash flows the entity
expects to derive from the asset).[8][9] An impairment cost under the
revaluation model is treated as a revaluation decrease (decrease of other
comprehensive income) to the extent of previous revaluation surpluses. Any
loss that takes the asset below historical depreciated cost is recognised in the
income statement.[5]
Depreciation: The depreciable amount (cost less residual value) should be
allocated on a systematic basis over the asset's useful life. That is, the mark-down
in value of the asset should be recognised as an expense in the income statement
every accounting period throughout the asset's useful life.[1] The useful life of the
asset is determined by taking into account expected usage, physical wear and tear,
technical or commercial obsolescence arising from changes in production or
market demand and legal limits on its use.[10] In addition, the depreciationin each
accounting period of the asset's useful life should reflect the pattern which the
asset's economic benefits are expected to be consumed by the entity.[1]
Derecognition:
Items of property, plant and equipment are derecognised on disposal or when no
future economic benefit is expected from its use.[11] An entity should recognise any
gain or loss on disposal in its income statement. The gain or loss on disposal is the
difference between the proceeds received in exchange for the asset disposed and
the carrying amount at the time of disposal.[1][12]
Disclosure:
IAS 16 requires an entity to disclose in its financial statements for each class of
property, plant and equipment:[1]

 the basis for measuring carrying amount

 the depreciation method(s) used
 the useful lives or depreciation rates
 the gross carrying amount and accumulated depreciation and impairment
losses
 a reconciliation of the carrying amount at the beginning and the end of the
period, showing:
o additions
o disposals
o acquisitions through business combinations
o revaluation increases or decreases
o impairment losses
o reversals of impairment losses
o depreciation
o net foreign exchange differences on translation
o other movements