February 28, 2007
Fuji Heavy Industries Ltd.

New regime of executives

The following organizational changes and executive appointments were made informally.

*SIA---Subaru of Indiana Automotive, Inc. SOA---Subaru of America, Inc.

1. Organizational Changes (as of April 1, 2007)

1) Subaru Global Marketing Division (New)

From the standpoint of the sales based on the customer first philosophy, Subaru Global Marketing Division is established as the core organization to carry on communication strategy as well as Subaru brand strategy. It also reflects market needs to products, sets up and promotes the mid-and-long term marketing strategy.

2) Subaru Overseas Sales & Marketing Division I, II (New)

To enhance response capabilities to a market trend in overseas sales, the current Subaru Overseas Sales & Marketing Division is divided and 2 divisions are newly established; Division I in charge of U.S. & Canada including enhancement of a function of the corporate governance over local subsidiaries and Division II in charge of Europe, Asia, Oceania and other areas aiming at reinforcement of the sales in emerging markets

2. Retirement of Corporate Vice President (as of March 31, 2007)


Kunio Ishigami
Current title: Corporate Senior Vice President, Chairman & President of SOA To be appointed as Advisor of FHI effective April 1, 2007
Shizuhiro Okazaki
Current title: Corporate Senior Vice President, Chief General Manager of Subaru Japan Sales & Marketing Division To be appointed as Advisor of FHI effective April 1, 2007
Ichiro Kudo
Current title: Corporate Senior Vice President, Senior General Manager of Subaru Engineering Division & Chief General Manager of Subaru Technical Research Center
To be appointed as Advisor of FHI effective April 1, 2007


3. Change of Directors’ Areas of Responsibility (as of April 1, 2007)

Name New
Representative Director of the Board
Corporate Executive Vice President
Shunsuke Takagi
Strategy Development Div., Secretarial Office
Finance & Accounting Dept.,
Corporate Communications Dept.
General Administration Dept., Legal Dept.
Internal Audit Dept.
Subaru Overseas Sales & Marketing Div. II
(Europe, Asia, Oceania & Others)
Director of the Board
Corporate Executive Vice President
Hiroyuki Oikawa
Subaru Overseas Sales & Marketing Div. I
(U.S. & Canada)
SIA, SOA
Chairman of SIA
Director of the Board
Corporate Executive Vice President
Kazushige Okuhara
Human Resources Dept.
Business Process & Information System
Management Dept.
Subaru Global Marketing Div.
Subaru Japan Sales & Marketing Div.
Subaru Parts & Accessories Div.
Subaru Customer Center

4. Change of Corporate Vice President’ Areas of Responsibility (as of April 1, 2007)

Name New
Corporate Executive Vice President
Masatsugu Nagato
Chief General Manager of Subaru Overseas
Sales & Marketing Div. II
(Europe, Asia, Oceania & Others)
Corporate Senior Vice President
Jun Kondo
Chief General Manager of Strategy
Development Div.
Chief General Manager of Subaru Cost
Planning & Management Div.
Corporate Senior Vice President
Takashi Ishihara
Chief General Manager of Subaru Purchasing
Div.
Corporate Vice President
Yoshio Hasunuma
Chief General Manager of Subaru Global
Marketing Div.
Corporate Vice President
Yasuyuki Yoshinaga
Chief General Manager of Subaru Japan
Sales & Marketing Div.
Corporate Vice President
Tomohiko Ikeda
Chief General Manager of Subaru Overseas
Sales & Marketing Div. I (U.S. & Canada)
Chairman & President of SOA
Corporate Vice President
Mitsuru Takahashi
Finance & Accounting Dept.
General Administration Dept.
Legal Dept., Internal Audit Dept.