Revision of Financial Forecast
for the Fiscal Year Ending 2022 (from April 1 to March 31, 2022)

Considering the current business trend, Subaru Corporation has announced the revision of financial forecast for the fiscal year ending March 31, 2022 (from April 1 to March 31, 2022) which was released at the timing of consolidated financial results announcement on November 5, 2021.

1.　Revision of consolidated financial forecast for the fiscal year ending 2022 (from April 1 to March 31, 2022)

	Revenue	Operating profit	Profit before tax	Profit for the period attributable to owners of parent	Profit for the period per share, basic
Previous forecast (A)	Millions of yen 2,900,000	Millions of yen 150,000	Millions of yen 155,000	Millions of yen 110,000	Yen 143.44
Revised forecast (B)	2,700,000	100,000	110,000	75,000	97.80
Increase and decrease (B-A)	-20,000	-50,000	-45,000	-35,000
Change of percentage (%)	-6.9	-33.3	-29.0	-31.8
(Ref.) Actual results of previous fiscal year (Ended March 2021)	2,830,210	102,468	113,954	76,510	99.77

2.　Reason for the revision

While the previous forecasts were based on production recovery plans from the third quarter on the assumption that the global shortage of semiconductors would be easing, larger-than-expected effects of the semiconductor shortage are continuing at this time. Reflecting this situation, the Company revises the consolidated financial forecasts for the fiscal year ending March 31, 2022 from the previous announcement made on November 5, 2021. The revised forecasts are based on exchange rates assumptions of ¥112/US$ (previously ¥110/US$) and ¥130/EUR (unchanged from the previous announcement).

3.　Dividends

There is no revision of dividend forecast.

Note: Forward-looking statements in this document including financial and other forecasts are based on the information available at the time of announcement and are subject to various risks and uncertainties that could cause actual results to vary materially.

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