Subaru Corporation Announces Financial Results for the First Half of FYE2018
Tokyo, November 6, 2017 - Subaru Corporation today announced its consolidated financial results for the first half of fiscal year ending March 31, 2018.
< Results for April-September 2017: Consolidated Net Sales >
Global sales of Subaru vehicles rose 3.8% to 531,000 units. Unit sales in Japan grew 21.0% to 82,000 units, as a decline in mini vehicle sales was offset by strong sales of passenger cars driven by the Impreza and the Subaru XV. Overseas unit sales increased 1.1% to 449,000 units, led by strong demand for the Impreza and the Forester in North America and other markets.
Consolidated net sales increased 6.9% to 1,686.3 billion yen due to foreign exchange gains and unit sales growth.
North American unit sales posted a first-half record for the 9th consecutive year.*1 Global unit sales and overseas unit sales marked first-half records for the 6th consecutive year.*1
< Results for April-September 2017: Consolidated Profit and Loss > Operating income rose 1.7% to 212.1 billion yen, as unit sales growth and foreign exchange gains offset an increase in R&D expenses and a rise in SG&A that mainly consisted of sales expenses associated with higher interest rates in the U.S. Ordinary income decreased 6.6% to 212.7 billion yen. Net income attributable to owners of parent decreased 48.1% to 85.0 billion yen, reflecting an extraordinary loss of 81.3 billion yen to account for airbag-related losses.
< Forecasts for FYE2018 >
Reflecting a downward revision to unit sales projections and a change in currency rate assumptions, the full-year forecasts for FYE2018 are revised from those previously announced on August 25, 2017 to net sales of 3,380 billion yen, operating income of 380 billion yen, ordinary income of 382 billion yen, and net income attributable to owners of parent of 207 billion yen.
North American unit sales and global unit sales are projected to post record highs for the 9th consecutive year and the 6th consecutive year, respectively.*2
Currency rate assumptions: 111 yen/US$, 128 yen/euro
Previous Forecasts for FYE2018 (Announced on August 25, 2017)
Net sales: 3,420 billion yen
Operating income: 410 billion yen
Ordinary income: 410 billion yen
Net income attributable to owners of parent: 228.5 billion yen
Currency rate assumptions: 110 yen/US$, 120 yen/euro
*1: Since fiscal year ended March 2001, when the company started half-year consolidated financial reporting
*2: Since fiscal year ended March 1986, when the company started full-year consolidated financial reporting
Forward-looking statements in this document including financial and other forecasts are based on the information available at the time of the announcement and are subject to various risks and uncertainties that could cause actual results to vary materially.
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