Subaru Corporation announces consolidated financial results for the first quarter of FYE 2024

Subaru Company right this moment introduced its consolidated monetary outcomes for the primary quarter of the fiscal yr ending March 31, 2024

Subaru Company right this moment introduced its consolidated monetary outcomes for the primary quarter of the fiscal yr ending March 31, 2024.

Outcomes for April–June 2023: Consolidated Income

World manufacturing elevated 18.3% to 243,000 items, regardless of continued manufacturing constraints because of the semiconductor scarcity.
Manufacturing in Japan rose 17.9% to 159,000 items, whereas manufacturing within the U.S. grew 19.1% to 84,000 items.

Because of the manufacturing enhance, world unit gross sales rose 20.3% to 236,000 items, led by regular gross sales in Subaru’s key U.S. market.
As a result of enhance in unit gross sales and different elements, consolidated income rose 29.7% to 1,082.1 billion yen.

Outcomes for April–June 2023: Consolidated Revenue and Loss

As constructive elements similar to gross sales quantity development and the results of overseas change charges greater than offset the unfavorable results of will increase in uncooked materials prices and SG&A bills, working revenue rose 128.4% to 84.5 billion yen, revenue earlier than tax grew 200.4% to 115.4 billion yen, and revenue for the interval attributable to homeowners of mother or father elevated 169.2% to 73.2 billion yen.

Forecast for FYE 2024

The forecast for the total fiscal yr of FYE 2024 stays unchanged from the earlier announcement made on Could 11, 2023.

Forecast for FYE 2024 (Introduced on Could 11, 2023):

Income: 4,200 billion yen
Working revenue: 300 billion yen
Revenue earlier than tax: 300 billion yen
Revenue for the interval attributable to homeowners of mother or father: 210 billion yen
Foreign money charge assumptions: 128 yen/US$, 138 yen/euro

Notes on figures within the outcomes:
Car quantity figures are rounded to the closest thousand. Yen figures are rounded to the closest hundred million.

Ahead-looking statements on this doc, together with monetary and different projections, are primarily based on data obtainable on the time of publication and are topic to varied dangers and uncertainties that might trigger precise outcomes to fluctuate materially.