Slide 1: Consolidated Financial Results for FYE 2019
Consolidated Financial Results for FYE 2019 SUBARU CORPORATION Toshiaki Okada Corporate Executive Vice President & CFO May 10th, 2019 https://www.subaru.co.jp/en/ir/ 1 NOTE) This document is an English translation of an original Japanese document. If there are any discrepancies between this document
Slide 2: Consolidated Financial Results for FYE 2019
Consolidated Financial Results for FYE 2019 https://www.subaru.co.jp/en/ir/ 2 2
Slide 3: Consolidated Unit Sales (by market)
FYE 2019 : Consolidated Unit Sales (by market) （Thousand Units） Results Results Variance FYE 2018 FYE 2019 Passenger cars 132.6 109.7 -22.9 Minicars 30.9 25.6 -5.3 Domestic total 163.4 135.3 -28.1 US 670.9 659.7 -11.2 Canada 56.8 56.8 +0.0 Russia 7.7 8.1 +0.4 Europe 40.2 32.1 -8.1 Australia 55.7 41.
Slide 4: Consolidated Unit Sales / Complete Cars Production
FYE 2019 : Consolidated Unit Sales / Complete Cars Production （Thousand Units） Results Results Variance FYE 2018 FYE 2019 Consolidated Unit Sales Total 1,066.9 999.9 -67.0 （Thousand Units） Results Results Variance FYE 2018 FYE 2019 Production in U.S. 348.6 372.2 +23.6 Production in Japan 701.2 617.0
Slide 5: Consolidated Income Statements
FYE 2019 : Consolidated Income Statements (100 Million Yen) Previous Plan Results Results FYE 2019 Variance Variance FYE 2018 FYE 2019 (as of Feb. 7th) (c)-(a) (c)-(b) (a) (c) (b) Net sales (34,052) 32,327 31,200 31,605 -722 +405 Domestic (6,686) 6,680 5,698 5,966 -714 +268 Overseas (27,367) 25,647
Slide 6: Analysis of Variance in Operating Income (Consolidated)
FYE 2019 : Analysis of Variance in Operating Income (Consolidated) R&D expenses (100 Million Yen) +186 SG&A expenses and others Sales volume Cost Loss on -987 & mixture reduction currency and others -107 exchange -874 -57 Results Results Operating Income Operating Income FYE 2018 -1,839 FYE 2019 Sal
Slide 7: Analysis of Variance in Operating Income (Consolidated)
Previous Plan FYE 2019 (as of February 7th) vs. Actual Results : Analysis of Variance in operating Income (Consolidated) Gain on (100 Million Yen) Sales volume R&D currency & mixture expenses exchange and others +34 +16 +109 SG&A Cost expenses reduction and others -16 -39 Previous Plan Results Opera
Slide 8: Operating Results of Subsidiaries in U.S.
FYE 2019 : Operating Results of Subsidiaries in U.S. （Million US$） Results Results SOA FYE 2018 FYE 2019 Variance Net sales 18,402 19,114 +712 Operating income 356 349 -7 Net income 235 297 +62 Retail sales 651.9 684.3 +32.4 (Thousand units) Results Results SIA FYE 2018 FYE 2019 Variance Net sales 7
Slide 9: Capex / Depreciation / R&D / Interest Bearing Debt
Capex / Depreciation / R&D / Interest Bearing Debt (100 Million Yen) Previous Plan Results Results FYE 2019 Variance Variance FYE 2018 FYE 2019 (as of Feb. 7th ) (c)-(a) (c)-(b) (a) (c) (b) Capex 1,414 1,300 1,135 -279 -165 Depreciation 898 930 888 -10 -42 R&D 1,211 1,060 1,027 -184 -33 Interest bea
Slide 10: Forecasts for FYE 2020 (IFRS)
Forecasts for FYE 2020 (IFRS) SUBARU Corporation will voluntarily adopt the International Financial Reporting Standards (IFRS) from the first quarter of the fiscal year ending March 2020. Therefore, the consolidated forecast for the fiscal year ending March 2020 is prepared based on IFRS. Please ref
Slide 11: 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 12: Consolidated Unit Sales (by market) FYE2020 Plan
FYE2020 Plan: Consolidated Unit Sales (by market) （Thousand Units） Reference Results Plan Plan Variance FYE 2019 (a) FYE 2020 FYE 2020 (b) JGAAP IFRS JGAAP (b)-(a) Passenger cars (*) 109.7 112.3 110.0 +0.3 Minicars (*) 25.6 28.2 27.6 +2.0 Domestic total(*) 135.3 140.5 137.5 +2.2 US 659.7 693.2 693.2
Slide 13: Consolidated Unit Sales / Complete Cars Production
FYE 2020 Plan : Consolidated Unit Sales / Complete Cars Production （Thousand Units） Results Plan FYE 2019 FYE 2020 (JGAAP) (IFRS) Consolidated Unit Sales Total 999.9 1,058.3 （Thousand Units） Results Plan Variance FYE 2019 FYE 2020 Production in U.S. 372.2 388.7 +16.6 Production in Japan 617.0 667.5
Slide 14: Consolidated Profit Plan
FYE 2020 Plan : Consolidated Profit Plan Reference Results Plan Plan Variance FYE 2019 (a) FYE 2020 FYE 2020 (b) JGAAP IFRS JGAAP (b)-(a) Revenue (*1) 31,605 33,100 33,020 +1,415 Domestic 5,966 5,841 5,760 -206 Overseas 25,639 27,260 27,260 +1,620 Operating profit (*2) 1,955 2,600 2,500 +545 Profit
Slide 15: Analysis of Variance in Operating Profit (Consolidated)
Plan FYE 2020 : Analysis of Variance in Operating Profit (Consolidated) (100 Million Yen) Sales volume SG&A & mixture expenses and others Accounting standards and others +252 difference +706 +100 R&D Loss on Cost expenses currency reduction -173 exchange -92 -148 Results Plan Plan Operating Income O
Slide 16: Capex / Depreciation / R&D / Interest Bearing Debt
Capex / Depreciation / R&D / Interest Bearing Debt (100 Million Yen) Results Plan Variance FYE 2019 FYE 2020 Capex (*1) 1,135 1,400 +265 Depreciation (*1) 888 1,000 +112 R&D expenditures (*2) 1,027 1,200 +173 Interest bearing debt (*1) 1,004 1,450 +446 *1 : Leases, capex & amortization for intangibl
Slide 17: Appendix (1)
Appendix (1) • Consolidated Balance Sheets • Consolidated Statements of Cash Flows • Non-operating profit& Expenses and Extraordinary Income & Losses • Segment information by Business & Geographic • Overseas Net Sales • Non-consolidated Unit Sales • 4th Quarter (3 months) Consolidated Unit Sales and
Slide 18: Consolidated Balance Sheets
Consolidated Balance Sheets (100 Million Yen) As of March 2018 As of March 2019 Variance Total assets 28,665 29,827 +1,163 Current assets 17,704 18,262 +558 Noncurrent assets 10,960 11,565 +605 Total liabilities 13,055 13,699 +644 Interest bearing debts 862 1,004 +142 Net assets 15,610 16,128 +518 R
Slide 19: Consolidated Statements of Cash Flows
FYE 2019 : Consolidated Statements of Cash Flows (100 Million Yen) Results Results Variance FYE 2018 FYE 2019 Net cash provided by (used in) operating activities 3,663 1,740 -1,923 Net cash provided by (used in) investing activities -1,507 -1,583 -76 Free cash flows 2,156 157 -1,999 Net cash provide
Slide 20: Non-operating Profit & Expenses and Extraordinary Income & Losses
FYE 2019 : Non-operating profit& Expenses and Extraordinary Income & Losses (Consolidated) （100 Million Yen） Results Results Variance FYE 2018 FYE 2019 Financial revenue and expenditure 68 129 +61 FOREX effects -51 -72 -2１ Others -12 -50 -38 Total non-operating profit& expenses 5 7 +2 Gain on sales
Slide 21: Net Sales and Operating Profit by Business Segment
FYE 2019 : Net Sales and operating profitby Business Segment (Consolidated) (100 Million Yen) Net Sales Operating Income Results Results Results Results Variance Variance FYE 2018 FYE 2019 FYE 2018 FYE 2019 Automobile (32,349) 30,623 30,145 -479 3,615 1,849 -1,765 Aerospace (1,422) 1,422 1,317 -105
Slide 22: Net Sales and Operating Profit by Geographic Area
FYE 2019 : Net Sales and operating profitby Geographic Area (Consolidated) (100 Million Yen) Net Sales Operating Income Results Results Results Results Variance Variance FYE 2018 FYE 2019 FYE 2018 FYE 2019 Japan (10,118) 10,110 8,990 -1,121 2,950 1,147 -1,803 North America (21,928) 20,276 21,037 +76
Slide 23: Overseas Net Sales (Consolidated)
FYE 2019 : Overseas Net Sales (Consolidated) (100 Million Yen) Results Results Variance FYE 2018 FYE 2019 North America (23,058) 21,406 22,017 +611 Europe (1,191) 1,181 1,005 -176 Asia (1,406) 1,351 1,164 -187 Others (1,712) 1,709 1,453 -256 Total (27,367) 25,647 25,639 -8 * Changed accounting polic
Slide 24: Non-consolidated Unit Sales
FYE 2019 : Non-consolidated Unit Sales (Thousand Units) Results Results FYE 2018 FYE 2019 Variance Domestic production 701.2 617.0 -84.2 Domestic sales 168.9 140.7 -28.2 Passenger cars 137.2 114.4 -22.8 Minicars 31.7 26.3 -5.4 Number of exported vehicles 556.5 491.5 -65.0 Components for overseas pro
Slide 25: Consolidated Unit Sales 4th Quarter
4th Quarter (3 months) : Consolidated Unit Sales (Thousand Units) Results Results 4th Quarter (3 months) 4th Quarter (3 months) Variance FYE 2018 FYE 2019 Passenger cars 34.9 29.8 -5.1 Minicars 9.7 7.0 -2.7 Domestic total 44.6 36.8 -7.8 US 161.9 163.8 +1.9 Canada 12.3 9.6 -2.8 Russia 2.1 1.6 -0.5 Eu
Slide 26: Consolidated Income Statements 4th Quarter
4th Quarter (3 months) : Consolidated Income Statements (100 Million Yen) Results Results 4th Quarter (3 months) 4th Quarter (3 months) Variance FYE 2018 FYE 2019 Net sales (8,406) 7,949 7,831 -118 Domestic (1,840) 1,838 1,608 -230 Overseas (6,565) 6,111 6,223 +111 Operating income 731 419 -313 Ordi
Slide 27: Analysis of Variance in Operating Income 4th Quarter
4th Quarter (3 months) : Analysis of Variance in Operating Income(Consolidated) Gain on currency (100 Million Yen) R&D expenses exchange +74 +58 Sales volume & mixture and others SG&A -210 expenses Cost and others reduction -174 -61 Results Results Operating Income Operating Income 4Q (3 months) -31
Slide 28: Complete Cars Production / Retail Sales Units
Complete Cars Production / Retail Sales Units * Production figures include Toyota 86. https://www.subaru.co.jp/en/ir/ 28 28
Slide 29: Appendix (2)
Appendix (2) Changes in Consolidated Financial Statements Due to Voluntary Adoption of International Financial Reporting Standards (IFRS) Information included in this material is currently under consideration. Therefore, please be advised that our actual consolidated financial statements based on IF
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 ma
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