Consolidated Financial Results for FYE2022
(April 1, 2021 to March 31, 2022)

Update: May 13, 2022

(100 Millions of yen)

FYE2021
Full Year
Results
FYE2022
Full Year
Results
Change %
Revenue 28,302 27,445 −857 −3.0%
Operating profit 1,025 905 −120 −11.7%
Profit before tax 1,140 1,070 −70 −6.1%
Profit for the period attributable
to owners of parent
765 700 −65 −8.5%
Consolidated unit sales
(1,000 units)
860 734 −126 −14.7%
  Overseas 758 645 −114 −15.0%
Japan 102 89 −12 −12.1%
SUBARU exchange rate ¥106/US$
¥123/EURO
¥112/US$
¥130/EURO
   

As parts supply constraints continued due to the global shortage of semiconductors throughout the year and the spread of the coronavirus in Southeast Asia during the second quarter period, operations at the Company’s Japanese and U.S. manufacturing plants were affected by production adjustments and temporary suspensions. As a result, global vehicle sales decreased 14.7% to 734,000 units. Overseas vehicle sales fell 15.0% to 645,000 units, while vehicle sales in Japan dropped 12.1% to 89,000 units.
Consolidated revenue decreased 3.0% to 2,744.5 billion yen.As the higher costs of raw materials and the decline in unit sales more than offset the positive impact of the reduction in sales incentives, the decrease in warranty expenses, and the effects of foreign exchange rates, operating profit decreased 12 billion yen to 90.5 billion yen, profit before tax fell 7 billion yen to 107 billion yen, and profit for the period attributable to owners of parent declined 6.5 billion yen to 70 billion yen.

Forecast of Consolidated Results for FYE2023
(April 1,2022 to March 31,2023)

Update: May 13, 2022

(100 Millions of yen)

FYE2022
Full Year
Results
FYE2023
Full Year
Forecast
Change %
Revenue 27,445 35,000 7,555 27.5%
Operating profit 905 2,000 1,095 121.1%
Profit before tax 1,070 2,000 930 87.0%
Profit for the period attributable
to owners of parent
700 1,400 700 100.0%
Consolidated unit sales
(1,000 units)
734 940 206 28.1%
  Overseas 645 826 181 28.1%
Japan 89 115 25 28.2%
SUBARU exchange rate ¥112/US$
¥130/EURO
¥120/US$
¥130/EURO
   

In prospect of a recovery especially in its key North American market, Subaru projects consolidated global vehicle sales of 940,000 units.
While uncertainties surrounding the semiconductor shortage remain, the Company, incorporating the expected positive impact of the increase in vehicle sales and effects of foreign exchange rates, projects consolidated revenue of 3,500 billion yen , operating profit of 200 billion yen , profit before tax of 200 billion yen , and profit for the period attributable to owners of parent of 140 billion yen .The projections are based on exchange rate assumptions of 120 yen to the U.S. dollar and 130 yen to the euro.