（Feb. 3, 2006）
Fuji Heavy Industries Ltd.

<Reference for the 3rd Quarter of FY2006(Apr. 2005 to Dec. 2005)
Consolidated Financial Results>

(in 100 millions of yen)
(in thousands of units)
  RESULTS
3rd Quarter of FY2005
Apr. 2004 to
Dec. 2004		 RESULTS
3rd Quarter of FY2006

Apr. 2005 to
Dec. 2005		 RESULTS
FY2005

Apr. 2004 to
Mar. 2005		 FORECAST
FY2006

Apr. 2005 to
Mar. 2006		 RESULTS
FY2006
(Nov. 2005)
Apr. 2005 to
Mar. 2006
Net Sales
Domestic
Overseas		 10,504
4,455
6,049		 10,395
4,28
6,114		 (1.0) %
(3.9) %
1.1 %		 14,465
6,271
8,194		 14,800\
6,190\
8,610\		 5.1 %
2.3 %
(1.3) %		 14,800
6,230
8,570
Margin Percentage
Operating Income
2.5 %
265
3.6 %
376		  41.9 %
2.9 %
420
3.3 %
490		 16.6 %
2.6 %
390
Margin Percentage
Ordinary Income
2.7 %
286
3.0 %
312		 8.9 %
3.0 %
436
2.6 %
390		 (10.5) %
2.0 %
290
Margin Percentage
Net Income
2.0 %
207
1.2 %
128		 (38.2) %
1.3 %
182
0.8 %
120		 (34.2) %
0.8 %
120
Factors of Change
in Operating Income		   Gain factors
Reduction in cost
Decrease of expenses
and others
Decrease in R&D expenses
Foreign exchange		 91

79

68
48

Loss factors
Decrease in sales mix
 175
  Gain factors
Reduction in cost
Foreign exchange
Decrease of expenses
and others
Decrease in R&D expenses		 124
103

52

40

Loss factors
Decrease in sales mix 　249
Gain factors
Reduction in cost
Decrease in R&D expenses
Decrease of expenses
and others
Foreign exchange		 113

40

27
12

Loss factors
Decrease in sales mix 222
Foreign Exchange Rate YEN/US$ 109 108 111 111 108
R&D Expenses 400 332 530 490 490
Interest bearing debt 4,089 3,911 4,122 4,000 4,100
Performance of operation   Net Sales to decrease
Net Income to decrease		   Net Sales to increase
Net Income to decrease
Best Net Sales		  
Domestic Sales
Small Cars
Minicars		 179
72
107		 164
69
95		 (8.3) %
(4.6) %
(10.9) %		 254
104
150		 235
102
133		 (7.5) %
(2.2) %
(11.2) %		 237
103
134
Export
North America
Europe
Other		 240
153
45
42		 244
146
47
51		 2.0 %
(4.5) %
5.2 %
22.4 %
 328
210
61
57		 339
209
64
66		 3.5 %
(0.7) %
6.0 %
16.5 %		 336
213
62
61
Units Total 419 408 (2.4) % 582 574 (1.3) % 573
SIA Isuzu SUVｓ 13 0 - 13 0 - 0

* Figures of Total Sales are the sum of retail sales units of the Japanese subsidiary dealers,
wholesale units of the overseas subsidiary distributors, and wholesale units of FHI to other distributors/dearlers.
* Exchange rate is the non-consolidated base of Fuji Heavy Industries Ltd..

copyright (c) FUJI HEAVY INDUSTRIES Ltd. 2007 All Rights Reserved.