Subaru Corporation Announces Consolidated Financial Results for the First Quarter of FYE 2023
Tokyo, August 3, 2022 - Subaru Corporation today announced its consolidated financial results for the first quarter of the fiscal year ending March 31, 2023.
Results for April-June 2022: Consolidated Revenue
While production constraints continued due to the global shortage of semiconductors, global production increased 11.7% to 205,000 units. Production in Japan rose 15.3% to 135,000 units, while production in the U.S. grew 5.4% to 70,000 units.
Global vehicle sales increased 11.7% to 196,000 units, led by sales growth in Subaru's key U.S. market. Due to the increase in vehicle sales and other factors, consolidated revenue rose 31.3% to 834.1 billion yen.
Results for April-June 2022: Consolidated Profit and Loss
As positive factors such as the effects of foreign exchange rates and the growth in unit sales more than offset a steep rise in raw material prices and an increase in SG&A expenses, operating profit rose 7.4 billion yen to 37 billion yen, profit before tax grew 4.2 billion yen to 38.4 billion yen, and profit for the period attributable to owners of parent increased 8.7 billion yen to 27.2 billion yen.
Forecasts for FYE 2023
Full-year forecasts for FYE 2023 remain unchanged from the previous announcement made on May 12, 2022.
Forecasts for FYE 2023 (Announced on May 12, 2022):
Revenue: 3,500 billion yen
Operating profit: 200 billion yen
Profit before tax: 200 billion yen
Profit for the period attributable to owners of parent: 140 billion yen
Currency rate assumptions: 120 yen/US$, 130 yen/euro
Notes on results:
Vehicle volume figures are rounded off to the nearest thousand. Yen figures are rounded off to the nearest hundred million.
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.