Subaru : Revision of Consolidated Financial Forecast for the Fiscal Year Ending March 31, 2024 (from April 1, 2023 to March 31, 2024
November 02, 2023 at 12:19 am
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November 2, 2023
Company Name: SUBARU CORPORATION
Representative: Atsushi Osaki, Representative Director, President and CEO Securities Code: 7270 (Tokyo Stock Exchange Prime Market)
Contact for inquiries: Yasushi Nagae, Vice President and General Manager of Investor Relations Department Phone: +81-3-6447-8825
Revision of Consolidated Financial Forecast for the Fiscal Year Ending March 31, 2024
(from April 1, 2023 to March 31, 2024)
Considering the recent business performance, Subaru Corporation (the "Company") has revised upward the financial forecast for the fiscal year ending March 31, 2024 from the previous announcement made on May 11,
2023 as follows:
1. Financial forecast
Consolidated financial forecast for the fiscal year ending March 2024 (from April 1, 2023 to March 31, 2024)
Profit for the
Profit for the
period per share
Operating
Profit before
period
Revenue
attributable to
profit
tax
attributable to
owners of
owners of parent
parent, basic
Previous forecast (A)
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Yen
4,200,000
300,000
300,000
210,000
273.81
Revised forecast (B)
4,650,000
420,000
460,000
320,000
422.55
Increase/Decrease (B-A)
450,000
120,000
160,000
110,000
Percentage change (%)
10.7
40.0
53.3
52.4
(Ref.) Results for previous
fiscal year
3,774,468
267,483
278,366
200,431
261.33
(FYE March 2023)
2. Reason for the revision
Despite an increase in SG&A expenses and potential constraints in parts supply and logistics, the Company revises the consolidated financial forecast for the fiscal year ending March 31, 2024 from the previous announcement made on May 11, 2023 to reflect the expected effects of higher sales and profits from exchange rate fluctuations, as well as an improvement in sales mix and a decline primarily in the precious metal market. Exchange rates assumed for forecast of the full-year consolidated earnings are 140 yen per US dollar (previously 128 yen per US dollar) and 150 yen per euro (previously 138 yen per euro).
Note: The above forecast is based on the information available as of the date of announcement of the present material and actual results may vary due to various factors.
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Subaru Corp. published this content on 02 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2023 04:18:47 UTC.
Subaru Corporation specializes in the production and marketing of automotive vehicles. The group also develops aeronautical construction activity. Net sales (including intragroup) break down by activity as follows:
- sale of vehicles (96.7%): mini-cars and individual cars (860,000 units sold in 2020/21; brands Legacy, Impreza, Forester, Exiga, etc.);
- sale of aircrafts (3.1%);
- other (0.2%): primarily manufacturing of industrial equipment (engines, pumps, electric generators, etc.).
Net sales break down geographically as follows: Japan (17.6%), Asia (3.3%), North America (73.6%), Europe (1.9%) and other (3.6%).