Business performance
Past results and forecasts for the current fiscal year.

Business Performance of FYE 2020

Performance in FYE 2020

(Billions of yen, Thousand Units)

FYE 2019
FYE 2020
Revenue*1 31,562 33,441 1,880
Operating profit*2 1,817 2,103 286
Profit before tax*3 1,860 2,077 216
Profit for the period attributable
to owners of parent*4
1,414 1,526 112
Subaru Exchange Rate ¥111/US$
Consolidated Automobile Sales
(1,000 units)
1,001 1,034 33

Consolidated revenue*1 rose 6.0% to 3,344.1 billion yen due to unit sales growth and other factors. Operating profit*2 increased 15.7% to 210.3 billion yen as a result of unit sales growth and other efforts including sales incentive control. Profit before tax*3 rose 11.6% to 207.7 billion yen. Profit for the period attributable to owners of parent*4 grew 7.9% to 152.6 billion yen.

* The Company is voluntarily adopting International Financial Reporting Standards (IFRS) for its consolidated financial statements from the fiscal year ending March 2020 (FYE2020) in place of the Japanese generally accepted accounting principles (JGAAP) previously adopted. The first-quarter and full-year result figures for the previous fiscal year (FYE2019) have been recalculated based on IFRS for comparison and analysis purposes.

"Net sales" in JGAAP is stated as "revenue" in IFRS.
"Operating income" in JGAAP is stated as "operating profit" in IFRS.
"Income before income taxes" in JGAAP is stated as "profit before tax" in IFRS.
"Net income attributable to owners of parent" in JGAAP is stated as "profit for the period attributable to owners of parent" in IFRS.

Consolidated Automobile Sales

Consolidated global unit sales of Subaru vehicles increased 3.3% to 1,034,000 units. Overseas unit sales rose 5.0% to 908,000 units led by strong demand for the Forester and Ascent in the U.S. Unit sales in Japan declined 7.7% to 126,000 units, as sales of the Impreza and other models decreased.

Business Plan of FYE 2021

Projection of Consolidated Results for FYE 2021

In response to the spread of COVID-19, we suspended plant operations in Japan (Gunma Plant) and overseas (plant in the U.S. at Subaru of Indiana Automotive, Inc.). We resumed operations on May 11, but plan to operate at adjusted levels of production for the time being. In terms of sales activity, many dealers in the mainstay U.S. market continue to face various restrictions.
We withhold release of consolidated earnings forecast for the fiscal year ending March 2021 as it remains uncertain at this point when the COVID-19 situation may be resolved, and it is difficult to reasonably estimate its impact on the Group's production, sales and other business activities. We plan to disclose estimated consolidated earnings and dividend payout forecast for the year ending March 2021, as soon as we can make calculations for them.