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| SOA retail sales because of the B9 Tribeca introduction were good and boosted the total sales volume by 6.3 thousands units, driving sales up US$178 million. Operating loss decreased by US$12 million on a year-on-year basis to $24 million due to the improved price and product mix and reduction in advertising costs despite an increase of US$20 million in incentives. Net loss likewise decreased by US$8 million from the same period last year to US$11 million.
SIA’s production volume dropped by 13.2 thousands units as the consignment production for Isuzu ended in July 2004. The production volume for the B9 Tribeca increased by 19.2 thousands units, compensating the 4.6 thousands units decline in production volume for the Legacy. Consequently, the actual Subaru car production volume was up by 14.6 thousands units over the previous year. Despite the improved sales volume and product mix resulting from the introduction of the B9 Tribeca and cost reduction, there were increases in the depreciation of the dies for the B9 Tribeca and other depreciation costs. SIA posted an actual overall operating loss of US$26 million although revenues increased by US$28 million. Net loss was US$161 million, with a profit decrease of US$88 million due to extraordinary losses generated from the cancellation of leased facilities as a result of the termination of consignment production for Isuzu in March 2005 as well as impairment losses. This extraordinary loss of US$196 million has been written off in the consolidated adjustment account for the fiscal year ended March 2005.
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