Latest Results and Forecast

Global production increased 12.7% to 757,000 units due to continued initiatives in production and parts procurement.
Production in Japan rose 7.3% to 491,000 units, while production in the U.S. grew 24.3% to 266,000 units.
As a result of the production increase, global unit sales rose 15.8% to 736,000 units, led by steady sales in Subaru's key U.S. market.
Consolidated revenue rose 24.5% to 3,496.4 billion yen, due to factors including the increase in sales volume and the positive impact of foreign exchange rates.
As factors such as the increase in sales volume and the positive impact of foreign exchange rates more than offset the increases in SG&A expenses and raw material costs, operating profit rose 73.6% to 371.0 billion yen, profit before tax grew 93.5% to 416.2 billion yen, and profit for the period attributable to owners of parent increased 93.5% to 298.9 billion yen.

• Consolidated Financial Results for the Second Quarter of FYE2024 (April 1, 2023 to September 30, 2023)

  (100 Millions of yen)

  		FYE2023 1st Half Results	FYE2024 1st Half Results	Change	%
  Revenue		17,509	22,135	4,626	26.4%
  Operating profit		1,104	1,858	754	68.3%
  Profit before tax		1,204	2,265	1,061	88.2%
  Profit for the period attributable to owners of parent		779	1,509	731	93.9%
  Consolidated unit sales (1,000 units)		398	469	71	17.8%
  	Overseas	350	424	75	21.3%
  	Japan	49	45	−4	−7.3%
  SUBARU exchange rate		¥130/US$ ¥137/EURO	¥139/US$ ¥151/EURO

  Global production increased 15.9% to 493,000 units as a result of continued initiatives in production and parts purchasing.
  Production in Japan rose 13.2% to 320,000 units, while production in the U.S. grew 21.2% to 173,000 units.
  As a result of the production increase, global unit sales rose 17.8% to 469,000 units, led by steady sales in Subaru’s key U.S. market.
  Due to the increase in unit sales and other factors, consolidated revenue rose 26.4% to 2,213.5 billion yen.
  As sales volume growth, the effects of foreign exchange rates, and other factors more than offset the increases in raw material costs and SG&A expenses, operating profit rose 68.3% to 185.8 billion yen, profit before tax grew 88.2% to 226.5 billion yen, and profit for the period attributable to owners of parent increased 93.9% to 150.9 billion yen.

• Consolidated Financial Results for the First Quarter of FYE2024 (April 1, 2023 to June 30, 2023)

  (100 Millions of yen)

  		FYE2023 1Q Results	FYE2024 1Q Results	Change	%
  Revenue		8,341	10,821	2,480	29.7%
  Operating profit		370	845	475	128.4%
  Profit before tax		384	1,154	770	200.4%
  Profit for the period attributable to owners of parent		272	732	460	169.2%
  Consolidated unit sales (1,000 units)		196	236	40	20.3%
  	Overseas	175	215	39	22.3%
  	Japan	20	21	1	2.7%
  SUBARU exchange rate		¥125/US$ ¥134/EURO	¥135/US$ ¥145/EURO

  Global production increased 18.3% to 243,000 units, despite continued production constraints due to the semiconductor shortage.
  Production in Japan rose 17.9% to 159,000 units, while production in the U.S. grew 19.1% to 84,000 units.
  As a result of the production increase, global unit sales rose 20.3% to 236,000 units, led by steady sales in Subaru's key U.S. market.
  Due to the increase in unit sales and other factors, consolidated revenue rose 29.7% to 1,082.1 billion yen.
  As positive factors such as sales volume growth and the effects of foreign exchange rates more than offset the negative effects of increases in raw material costs and SG&A expenses, operating profit rose 128.4% to 84.5 billion yen, profit before tax grew 200.4% to 115.4 billion yen, and profit for the period attributable to owners of parent increased 169.2% to 73.2 billion yen.

• Consolidated Financial Results for FYE2023 (April 1, 2022 to March 31, 2023)

  (100 Millions of yen)

  		FYE2022 Full Year Results	FYE2023 Full Year Results	Change	%
  Revenue		27,445	37,745	10,299	37.5%
  Operating profit		905	2,675	1,770	195.7%
  Profit before tax		1,070	2,784	1,714	160.2%
  Profit for the period attributable to owners of parent		700	2,004	1,304	186.3%
  Consolidated unit sales (1,000 units)		734	852	118	16.1%
  	Overseas	645	753	108	16.8%
  	Japan	89	100	10	11.4%
  SUBARU exchange rate		¥112/US$ ¥130/EURO	¥135/US$ ¥141/EURO

  While production constraints continued throughout the fiscal year, mainly due to semiconductor shortages, global production increased 20.3% to 874,000 units as the company worked to minimize the impact through measures such as flexible rescheduling of production plans.
  Production in Japan rose 26.3% to 575,000 units, while production in the U.S. grew 10.1% to 299,000 units.
  As a result of the production increase, global unit sales rose 16.1% to 852,000 units, led by steady sales in Subaru's key U.S. market.
  Due to the positive effects of foreign exchange rates, the unit sales growth, and other factors, consolidated revenue rose 37.5% to 3,774.5 billion yen.
  As positive factors such as the effects of foreign exchange rates and sales volume growth more than offset the negative effects of material cost increases and higher SG&A expenses, operating profit rose 177.0 billion yen to 267.5 billion yen, profit before tax grew 171.4 billion yen to 278.4 billion yen, and profit for the period attributable to owners of parent increased 130.4 billion yen to 200.4 billion yen.

• For more details, please refer to Financial results.