Subaru Corporation Announces Financial Results for the First Quarter of FYE2018
Tokyo, August 3, 2017 - Subaru Corporation today announced its consolidated financial results for the first quarter of fiscal year ending March 31, 2018.
< April-June 2017 Results: Consolidated Net Sales >
Global sales of Subaru vehicles for the first quarter rose 10.7% to 271,000 units. Unit sales in Japan increased 29.9% to 40,000 units, driven by growth in mini vehicle sales as well as strong sales of passenger cars led by the all-new Impreza and the all-new Subaru XV. Overseas unit sales grew 7.9% to 231,000 units, led by strong demand for the Forester and the all-new Impreza in North America.
Consolidated net sales increased 11.1% to 854.8 billion yen due to unit sales growth and foreign exchange gains.
Consolidated net sales, global unit sales, overseas unit sales, and North American unit sales posted first-quarter records.*1
< April-June 2017 Results: Consolidated Profit and Loss >
Operating income rose 17.5% to 119.3 billion yen, as unit sales growth and foreign exchange gains offset increased R&D expenses and a rise in SG&A that included sales expenses associated with higher interest rates in the U.S. Ordinary income increased 0.4% to 119.3 billion yen and net income attributable to owners of parent grew 4.4% to 82.3 billion yen.
< FYE2018 Forecasts >
The full-year forecasts for FYE2018 remain unchanged from the previous forecasts announced on May 9, 2017.
Currency rate assumptions: 110 yen/US$, 120 yen/euro
Previous Forecasts for FYE2018 (Announced on May 9, 2017)
Net sales: 3,420 billion yen
Operating income: 410 billion yen
Ordinary income: 410 billion yen
Net income attributable to owners of parent: 285 billion yen
Currency rate assumptions: 110 yen/US$, 120 yen/euro
*1: Since fiscal year ended March 2004, when the company started quarterly consolidated financial reporting.
Forward-looking statements in this document including financial and other 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.
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