Subaru : Reference for the First Quarter of FYE 2023 Consolidated Financial Results

												August 3, 2022
Reference for the First Quarter of FYE 2023 Consolidated Financial Results		Subaru Corporation
									(Yen in 100 millions, Units in thousands)
			FYE 2022		FYE 2023		FYE 2022		FYE 2023
			1st Quarter		1st Qarter		Full Year		Full Year
			[ 2021. 4-6 ]	[ 2022. 4-6 ]		[ '21.4 - '22.3 ]	[ 2022.4 - 2023.3 ]
			RESULTS		RESULTS		RESULTS	FORECASTS
						Change		%				Change		%
Revenue		6,352	8,341		1,989		31.3	27,445	35,000		7,555		27.5
		Japan	1,130	1,271		140		12.4	4,880	-		-		-
		Overseas	5,222	7,070		1,849		35.4	22,565	-		-		-
Operating profit (loss)		295	370		74		25.2	905	2,000		1,095		121.1
		Profit margin (%)	4.6	4.4					3.3	5.7
Profit (loss) before tax		343	384		42		12.1	1,070	2,000		930		87.0
		Profit margin (%)	5.4	4.6					3.9	5.7
Profit (loss) for the period attributable	185	272		87		47.0	700	1,400		700		100.0
to owners of parent	Profit margin (%)	2.9	3.3					2.6	4.0
Factors contributing to			Effects of	foreign		444		Sales volume, mix,	2,365
		exchange rates		etc.
change in operating profit			Sales volume, mix,	112		Effects of foreign	859
				etc.					exchange rates
				Dencrease in R&D	2		Increase in SG&A	(1,006)
				exp.					exp., etc.
				Increase in SG&A	(338)		Cost impacts	(987)
				exp., etc.
				Cost impacts	(158)		Increase in R&D exp.	(156)
				Other				12		Other				20
Exchange rates	JPY/US$	109/US$		125/US$		112/US$		120/US$
		JPY/EUR	131/EUR		134/EUR		130/EUR		130/EUR
Capital expenditures		192		280			861		1,400
Depreciation		228		238			946		1,000
R&D expenditures *		271		231			1,138		1,200
Interest bearing debts		3,360		3,314			3,340		-
				- Increase in revenue for two			- First increase in revenue in three
Performance description			consecutive years			years
				- Increase in profit at each stage		- First increase in profit at each
				for two consecutive years			stage in three years
				- Increase in consolidated unit		- First increase in consolidated unit
				sales for two consecutive years		sales in three years

Consolidated unit sales		24	20	(4)	(14.8)	89	115	25	28.2
< Japan >	Passenger Cars	19	16	(3)	(14.4)	73	91	18	25.4
Consolidated unit sales	Minicars	5	4	(1)	(16.5)	17	24	7	40.1
	151	175	24	15.9	645	826	181	28.1
< Overseas >	North America	129	150	21	16.2	555	688	133	24.0
	Europe **	3	5	1	37.0	15	-	-	-
	China	4	3	(1)	(25.3)	14	19	5	37.0
	Other	15	18	3	19.3	60	-	-	-
Consolidated unit sales total	175	196	21	11.7	734	940	206	28.1
Production units total		184	205	22	11.7	727	1,000	273	37.6
	Japan	117	135	18	15.3	455
	U.S.	67	70	4	5.4	272
Revenue by	Automobile	6,177	8,181	2,004	32.4	26,775
Aerospace	163	148	(15)	(9.0)	623
business segment
Other	12	12	0	1.9	48
	Automobile	287	364	77	26.8	925
Operating profit (loss)	Aerospace	(8)	(21)	(12)	-	(70)
by business	Other	16	26	10	60.2	48
segment
Elimination &	0	0			1
	-	-
	Corporate

• • "R&D expenditures" indicate R&D activity related costs incurred during the reporting period. Under IFRS, a part of these costs that meets capitalization criteria is recognized as an intangible asset and amortized over its estimated useful life; thus, the amount of "R&D expenditures" stated here does not match that of "R&D expenses" stated on the Consolidated Statement of Income.
  • Starting from the August 1, 2022 reporting, the regions under "Europe" have been redefined. (The figures of the previous-year results have been changed accordingly.)
• Forward-lookingstatements in this document 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. >