FHI Announces Consolidated Financial Results for the First 9 Months of FY2014
Tokyo, February 4, 2014 - Fuji Heavy Industries Ltd. (FHI), the manufacturer of Subaru automobiles, today announced its consolidated financial results for the first 9 months of the fiscal year ending March 31, 2014.
<Consolidated Net Sales for Apr-Dec 2013>
With strong demand for the Forester and Impreza models, Subaru's overseas sales rose 13.1% to 470,000 units, led by the U.S. sales growth of 25.8% to 326,000 units. Japan sales posted an 11.0% rise to 124,000 units. In total, Subaru's global sales rose 12.7% to 593,000 units.
Due to the unit sales growth, correction of yen appreciation and other factors, FHI's consolidated net sales increased 24.6% to 1,708.5 billion yen.
<Consolidated Profit and Loss for Apr-Dec 2013>
As a result of the correction of yen appreciation, unit sales growth, cost reduction progress and other factors, operating income grew 218.1 % to 233.4 billion yen, while ordinary income rose 249.1% to 221.4 billion yen and net income increased 241.7% to 181.5 billion yen.
Global, overseas and U.S. unit sales as well as net sales and all profit figures each marked an all-time first 9-months record.*1
<FY2014 Full-Year Forecasts>
Unit sales outlook for full year is raised from the previous forecast by 22,000 units to 829,000 units. Reflecting the changes including the unit sales increase and currency rate assumptions, the full-year projections are revised upward with Net sales at 2,380 billion yen, Operating income at 310 billion yen, Ordinary income at 294 billion yen and Net income at 221 billion yen. Global unit sales, net sales and all profit figures are to reach all-time highs in FHI's history.*2
Currency rate assumptions: 99 yen/US$, 133 yen/euro
Previous Forecasts for FY2014 (Announced on November 13, 2013)
Net sales: 2,300 billion yen
Operating income: 278 billion yen
Ordinary income: 272 billion yen
Net income: 207 billion yen
Currency rate assumptions: 97 yen/US$, 127 yen/euro
*1: Since fiscal year ended March 2004 - the year FHI started quarterly consolidated financial reporting.
*2: Since fiscal year ended March 1986 - the year FHI started full-year consolidated financial reporting.
Forward-looking statements in this document including the earnings forecasts are based on the information available at the time of the announcement and are subject to various risks and uncertainties that could cause actual results to vary materially.