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    7270   JP3814800003

SUBARU CORPORATION

(7270)
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Delayed Japan Exchange  -  01:00 2022-12-02 am EST
2236.00 JPY   -2.34%
11/29Subaru : Solterra Awarded Maximum Five Star Rating in 2022 Euro NCAP Safety Test
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11/29Subaru : Announces Production, Japan Sales and Export Results for October 2022
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11/17Subaru : World Premier of All-New Subaru Impreza
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Japan's Subaru to build its first electric vehicle factory

05/12/2022 | 12:16am EST
The logo of Subaru Corp. is pictured at the 45th Tokyo Motor Show in Tokyo

TOKYO, May 12 (Reuters) - Subaru Corp aims to build a dedicated electric vehicle (EV) factory in Japan in the late 2020s, it said on Thursday, as part of a $1.9 billion ramp-up to respond to surging demand for battery cars in its main North American market.

Subaru, known for its Outback crossover, has long had a strong presence in the United States and on Thursday warned that its U.S. dealers only have a record low stockpile of around 5,000 vehicles left, reflecting the squeeze of a supply-chain crunch.

It plans to launch a mixed-production line of gasoline and electric vehicles around 2025 before opening an EV-only production line in the new factory after 2027, it said. The move would be a first for Subaru. Other Japanese automakers have yet to formally announce plans to build a dedicated EV factory.

Japan's automakers are accelerating their EV production in an attempt to recover ground lost to Tesla Inc, now the leader in the fastest growing segment of the auto industry.

"The market for EVs has been changing very rapidly over the past year," said Subaru CEO Tomomi Nakamura.

It plans to invest 250 billion yen ($1.93 billion) over the next five years to bolster electrification.

The vehicles produced in the new factory would be exported overseas, Nakamura said, declining to reveal specifics about production capability and whether it would make Toyota Motor Corp cars.

The announcement came on the same day that Subaru began accepting orders for its first mass-produced EV, the Solterra, developed jointly with Toyota in Japan. Subaru, however, outsourced the car's production to Toyota, which has also just rolled out its first battery electric car.

Separately, Subaru reported a 12% drop in full-year operating profit to 90.45 billion yen ($701 million). For the current financial year that began in April, it forecast operating profit of 200 billion yen, more than double the year just ended. ($1 = 129.0300 yen) (Reporting by Satoshi Sugiyama; Editing by David Dolan and Edmund Klamann)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
SUBARU CORPORATION -2.34% 2236 Delayed Quote.8.70%
TESLA, INC. 0.08% 194.86 Delayed Quote.-44.68%
TOYOTA INDUSTRIES CORPORATION -2.96% 7550 Delayed Quote.-17.85%
TOYOTA MOTOR CORPORATION -1.38% 1971 Delayed Quote.-6.39%
All news about SUBARU CORPORATION
11/29Subaru : Solterra Awarded Maximum Five Star Rating in 2022 Euro NCAP Safety Test
PU
11/29Subaru : Announces Production, Japan Sales and Export Results for October 2022
PU
11/17Subaru : World Premier of All-New Subaru Impreza
PU
11/15Subaru : FYE2023 Q2 Analyst Briefing Q&
PU
11/10Mazda says demand is strong but expects slowdown in U.S. from next spring
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11/10Subaru : Presentation of Business Results (with transcripts
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11/08Subaru : earns three 2022 IIHS TOP SAFETY PICK+ Awards (Applies to US models only)
PU
11/02Subaru Corporation Announces Consolidated Financial Results for the First Half of FYE 2..
AQ
11/02Subaru says U.S. vehicle demand strong amid economic slowdown fears
RE
11/02Nikkei 225 Steady Ahead of Federal Reserve Meeting
MT
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Analyst Recommendations on SUBARU CORPORATION
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Financials
Sales 2023 3 869 B 28 591 M 28 591 M
Net income 2023 219 B 1 617 M 1 617 M
Net cash 2023 660 B 4 881 M 4 881 M
P/E ratio 2023 7,83x
Yield 2023 3,63%
Capitalization 1 715 B 12 672 M 12 672 M
EV / Sales 2023 0,27x
EV / Sales 2024 0,22x
Nbr of Employees 36 910
Free-Float 77,7%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 2 236,00 JPY
Average target price 2 811,88 JPY
Spread / Average Target 25,8%
EPS Revisions
Managers and Directors
Tomomi Nakamura Executive Officer & Deputy GM-Global Marketing
Katsuyuki Mizuma CFO, Director & Chief Risk Management Officer
Kazuo Hosoya Deputy General Manager-Domestic Sales
Takuji Dai Chief Information Officer
Tetsuro Fujinuki Chief Technology Officer
Sector and Competitors
1st jan.Capi. (M$)
SUBARU CORPORATION8.70%12 672
TOYOTA MOTOR CORPORATION-6.39%198 720
VOLKSWAGEN AG-21.67%86 975
MERCEDES-BENZ GROUP AG-5.18%71 895
BMW AG-3.65%57 694
GENERAL MOTORS COMPANY-31.95%56 686