Slide 1: Consolidated Financial Results for FYE 2020
Consolidated Financial Results for FYE 2020 SUBARU CORPORATION Tomomi Nakamura Representative Director, President and CEO May 18th, 2020 https://www.subaru.co.jp/en/ir/ 1
Slide 2: FYE 2020: Consolidated Profit Results
FYE 2020 : Consolidated Profit Results Yen in 100 Millions, Units in Thousands Previous Plan Results Results FYE 2020 Variance Variance FYE 2019 (*1) FYE 2020 (as of Feb. 5th) (c)-(a) (c)-(b) (a) (c) (b) Consolidated Unit Sales 1,000.8 1,041.3 1,033.9 +33.0 -7.5 Revenue (*2) 31,562 33,600 33,441 +1,
Slide 3: FYE 2021: Consolidated Financial Plan
FYE 2021 : Consolidated Financial Plan Yen in 100 Millions, Units in Thousands Results Plan Variance FYE 2020 FYE 2021 Consolidated Unit Sales 1,033.9 TBD － Revenue (*1) 33,441 TBD － Operating profit (*2) 2,103 TBD － Profit for the period attributable to owners of parent (*3) 1,527 TBD － SUBARU US$
Slide 4: Shareholder Returns
Shareholder Returns [ Dividend per share ] （Yen） Previous Forecast Forecast FYE 2019 FYE 2020 FYE 2020 FYE 2021 Interim dividend 72 72 72 TBD Year-end dividend 72 72 28 TBD Total 144 144 100 TBD Payout ratio 78.1% － 50.3% － https://www.subaru.co.jp/en/ir/ 4
Slide 5: https://www.subaru.co.jp/ir/
Forward-looking statements including projections and future strategies mentioned in this presentation are based on currently available information and assumptions and are subject to risks and uncertainties. Actual results may vary materially as a result of various factors including, without limitati
Slide 6: Consolidated Financial Results for FYE 2020
Consolidated Financial Results for FYE 2020 SUBARU CORPORATION Toshiaki Okada Corporate Executive Vice President & CFO May 18th, 2020 https://www.subaru.co.jp/en/ir/ 1
Slide 7: Voluntary adoption of IFRS
Consolidated Financial Results for FYE 2020 SUBARU Corporation is voluntarily adopting the International Financial Reporting Standards (IFRS) from the first quarter of the fiscal year ending March 2020. Therefore, the figures are based on IFRS. Please refer to Appendix (2) for changes in the consoli
Slide 8: Consolidated Unit Sales (by market)
FYE 2020 : Consolidated Unit Sales (by market) （Thousand Units） Reference : JGAAP Previous Plan Results Results FYE 2020 Variance Variance Results FYE 2019 FYE 2020 (as of Feb. 5th) (c)-(a) (c)-(b) FYE 2019 (a) (c) (b) Passenger cars (*) 110.2 104.2 101.9 -8.3 -2.3 109.7 Minicars (*) 26.0 23.8 23.9
Slide 9: Consolidated Unit Sales / Complete Cars Production
FYE 2020 : Consolidated Unit Sales / Complete Cars Production （Thousand Units） Previous Plan Results Results FYE 2020 Variance Variance FYE 2019 FYE 2020 (as of Feb. 5th) (c)-(a) (c)-(b) (a) (c) (b) Consolidated Unit 1,000.8 1,041.3 1,033.9 +33.0 -7.5 Sales Total （Thousand Units） Previous Plan Resul
Slide 10: Consolidated Profit Results
FYE 2020 : Consolidated Profit Results (100 Million Yen) Reference : JGAAP Previous Plan Results Results FYE 2020 Variance Variance Results FYE 2019 FYE 2020 (as of Feb. 5th) (c)-(a) (c)-(b) FYE 2019 (a) (c) (b) Revenue (*1) 31,562 33,600 33,441 +1,880 -159 31,605 Domestic 5,941 5,605 5,727 -214 +12
Slide 11: Analysis of Variance in Operating Profit (Consolidated)
FYE 2020 : Analysis of Variance in Operating Profit (Consolidated) (100 Million Yen) SG&A Sales volume R&D expenses & mixture expenses and others and others +161 +96 Other +392 +42 Loss on currency Cost Accounting exchange reduction standard and others difference -290 -115 -138 Results Results Resul
Slide 12: Analysis of Variance in Operating Profit vs Previous Plan
Previous Plan FYE 2020 (as of February 5th) vs. Results : Analysis of Variance in Operating Profit (Consolidated) SG&A Cost (100 Million Yen) expenses reduction and others and others +170 +8 Sales volume Loss on R&D Other & mixture currency expenses and others exchange -28 -177 -11 -59 Previous Plan
Slide 13: 4th Quarter: Consolidated Profit Results
4th Quarter (3 months) : Consolidated Profit Results (100 Million Yen) Reference : JGAAP Results Results Results th 4 Quarter (3 months) th 4 Quarter (3 months) Variance 4th Quarter (3 months) FYE 2019 FYE 2020 FYE 2019 Revenue (*1) 7,648 8,595 +947 7,831 Domestic 1,432 1,485 +52 1,608 Overseas 6,21
Slide 14: Consolidated Statement of Cash Flows
FYE 2020 : Consolidated Statement of Cash Flows (100 Million Yen) Results Results Variance FYE 2019 FYE 2020 Net cash provided by (used in) operating activities 2,507 2,101 -406 Net cash provided by (used in) investing activities -1,901 -258 +1,643 Free cash flows 606 1,843 +1,237 Net cash provided
Slide 15: Capex / Depreciation / Interest Bearing Debt / R&D
Capex / Depreciation / Interest Bearing Debt / R&D (100 Million Yen) Reference : JGAAP Previous Plan Results Results FYE 2020 Variance Variance Results FYE 2019 FYE 2020 (as of Feb. 5th) (c)-(a) (c)-(b) FYE 2019 (a) (c) (b) Capex (*1) 1,140 1,400 1,260 +120 -140 1,135 Depreciation (*1) 891 1,000 961
Slide 16: Securing liquidity on hand for coronavirus risk
Securing liquidity on hand for coronavirus risk (100 Million Yen) As of Mar. 2020 Commitment line 2,000 Issuance limit of Corporate bonds 400 Issuance limit of Commercial paper 1,000 https://www.subaru.co.jp/en/ir/ 11
Slide 17: Appendix (1)
Appendix (1) • Segment information by Business & Geographic • Overseas Revenue • Consolidated Statement of Financial Position • Non-consolidated Unit Sales • Operating Results of Subsidiaries in U.S. • Consolidated Financial Results for 4th Quarter (3 months) • Complete Cars Production / Retail Sale
Slide 18: Revenue and Operating Profit by Business Segment
FYE 2020 : Revenue and Operating Profit by Business Segment (Consolidated) (100 Million Yen) Revenue Operating profit Results Results Results Results Variance Variance FYE 2019 FYE 2020 FYE 2019 FYE 2020 Automobile (30,145) 30,076 31,939 +1,863 (1,849) 1,721 2,003 +282 Aerospace (1,317) 1,341 1,421
Slide 19: Revenue and Operating Profit by Geographic Area
FYE 2020 : Revenue and Operating Profit by Geographic Area (Consolidated) (100 Million Yen) Revenue Operating profit Results Results Results Results Variance Variance FYE 2019 FYE 2020 FYE 2019 FYE 2020 Japan (8,990) 8,963 8,707 -256 (1,147) 1,036 1,027 -9 North America (21,037) 21,020 23,118 +2,098
Slide 20: Overseas Revenue (Consolidated)
FYE 2020 : Overseas Revenue (Consolidated) (100 Million Yen) Results Results Variance FYE 2019 FYE 2020 North America (22,017) 21,999 24,131 +2,132 Europe (1,005) 1,006 1,162 +157 Asia (1,164) 1,163 1,064 -99 Other (1,453) 1,452 1,357 -95 Total (25,639) 25,620 27,714 +2,094 * Figure in ( ) ：JGAAP ht
Slide 21: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (100 Million Yen) As of March As of March Variance 2019 2020 Total assets 31,806 32,939 +1,133 Current assets 19,137 19,788 +650 Non-current assets 12,669 13,151 +483 Total liabilities 14,907 15,738 +831 Interest bearing debts 1,037 2,392 +1,355 Total equ
Slide 22: Non-consolidated Unit Sales
FYE 2020 : Non-consolidated Unit Sales （Thousand Units） Results Results Variance FYE 2019 FYE 2020 Domestic production 617.0 663.6 +46.6 Domestic sales 140.7 128.5 -12.3 Passenger cars 114.4 103.8 -10.6 Minicars 26.3 24.7 -1.6 Number of exported vehicles 491.5 551.2 +59.7 Components for overseas 403
Slide 23: Operating Results of Subsidiaries in U.S.
FYE 2020 : Operating Results of Subsidiaries in U.S. （Million US$） Results Results SOA FYE 2019 FYE 2020 Variance Net sales 19,114 21,076 +1,962 Operating income 349 880 +527 Net income 297 681 +383 Retail sales (Thousand units) 684.5* 671.3 -13.2 Results Results SIA FYE 2019 FYE 2020 Variance Net s
Slide 24: 4th Quarter: Consolidated Unit Sales (by market)
4th Quarter (3 months) : Consolidated Unit Sales （by market) （Thousand Units） Reference : JGAAP Results Results Results 4th Quarter (3 months) 4th Quarter (3 months) Variance 4th Quarter (3 months) FYE 2019 FYE 2020 FYE 2019 Passenger cars (*) 25.3 25.7 +0.4 29.8 Minicars (*) 6.7 5.4 -1.3 7.0 Domest
Slide 25: 4th Quarter: Consolidated Profit Results
4th Quarter (3 months) : Consolidated Profit Results (100 Million Yen) Reference : JGAAP Results Results Results th 4 Quarter (3 months) th 4 Quarter (3 months) Variance 4th Quarter (3 months) FYE 2019 FYE 2020 FYE 2019 Revenue (*1) 7,648 8,595 +947 7,831 Domestic 1,432 1,485 +52 1,608 Overseas 6,21
Slide 26: 4th Quarter: Analysis of Variance in Operating Profit
4th Quarter (3 months) : Analysis of Variance in Operating Profit (Consolidated) Sales volume (100 Million Yen) & mixture and others SG&A Other expenses +159 and others +62 +221 Loss on R&D Cost currency expenses reduction exchange -97 -25 -4 Accounting standard difference Results -158 Results Resul
Slide 27: Complete Cars Production / Retail Sales Units
Complete Cars Production / Retail Sales Units （Thousand Units） Production Retail Sales 300 280 276 276 278 277 273 270 271 264 269 268 264 271269 269 258 261 262 262 253 253 257 254 248 249 249 252 250 250 244 242 245 242 241 242 237 233 231 237 236 229 227 204 200 150 100 50 0 Jan- Apr- Jul- Oct- J
Slide 28: Appendix (2)
Appendix (2) Changes in Consolidated Financial Statements Due to Voluntary Adoption of International Financial Reporting Standards (IFRS) https://www.subaru.co.jp/en/ir/ 23
Slide 29: Key differences of JGAAP and IFRS
Key differences of JGAAP and IFRS Japanese generally accepted accounting principles International Financial Reporting Standards Item (JGAAP) (IFRS) In case that it is satisfied with criterion of assets, Recorded as expenses when it incurred. it will be amortized. R&D expenses R&D expenses which is r
Slide 30: Consolidated Statements of Income
Consolidated Statements of Income JGAAP IFRS Net sales Revenue 1) "Selling, general and administrative expenses" on Cost of sales Cost of sales "Japanese Generally Accepted Accounting Principles" Gross profit Gross profit (hereafter "JGAAP") will be presented as "Selling, general and administrative
Slide 31: Consolidated Statement of Financial Position (Assets)
Consolidated Statement of Financial Position （Assets） JGAAP IFRS Consolidated statement of Consolidated Balance Sheet (Assets) financial position (Assets) 1) Of "Cash and deposits" and "Short-term Assets Assets investment securities" on JGAAP, Cash and Current assets Current assets securities that m
Slide 32: Consolidated Statement of Financial Position (Liabilities and Equity)
Consolidated Statement of Financial Position （Liabilities and Equity） JGAAP IFRS Consolidated Balance Sheet Consolidated statement of (Liabilities and Equity) financial position（Liabilities and Equity） 1) "Notes and accounts payable- trade","Electronically recorded Liabilities Liabilities and equity
Slide 33: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows JGAAP IFRS Net cash provided by (used in) operating activities Net cash provided by (used in) operating activities Income (loss) before income taxes Profit before tax 1) Operating lease transactions that were recorded as expense on Depreciation and amortization
Slide 34: https://www.subaru.co.jp/en/ir/
Forward-looking statements including projections and future strategies mentioned in this presentation are based on currently available information and assumptions and are subject to risks and uncertainties. Actual results may vary materially as a result of various factors including, without limitati