Subaru Corporation · TSE:7270
Subaru — Fuji Heavy Industries — Q1 FYE March 2010 Earnings Presentation
23 slides from Subaru's earnings presentation, Jul 31, 2009
Slide 1: Presentation of Business Results for the 1st Quarter of FYE 2010
Presentation of Business Results for the 1st Quarter of FYE 2010 0 Fuji Heavy Industries Ltd. July 31, 2009 http://www.fhi.co.jp/english/ir/ http://www.fhi.co.jp/fina/english/
Slide 2: A Summary of Business Results
A Summary of Business Results 1 http://www.fhi.co.jp/english/ir/
Slide 3: 1st Quarter: Consolidated Automobile Sales
1st Quarter : Consolidated Automobile Sales (Thousand Units) Actual Results Actual Results Increase 1Q 1Q /Decrease FYE March 2009 FYE March 2010 Passenger Car 14.7 12.1 -2.6 Minicar 28.1 20.8 -7.2 Domestic Total 42.8 32.9 -9.9 U.S. 36.1 39.3 +3.3 Canada 3.8 5.9 +2.2 Russia 7.9 0 -7.8 Europe 15.9 6.
Slide 4: Consolidated Statements of Income
1st Quarter : Consolidated Statements of Income (100 million yen) Actual Results Actual Results Increase 1Q 1Q /Decrease FYE March 2009 FYE March 2010 Net Sales 3,411 2,713 -698 Domestic 1,171 1,091 -80 Overseas 2,240 1,622 -618 Operating Income/Loss 65 -197 -261 Ordinary Income/Loss 71 -195 -266 Ne
Slide 5: Analysis of Increase and Decrease in Operating Income Changes
1st Quarter : Analysis of Increase and Decrease in Operating Income Changes (consolidated) (100 million yen) FHI:+32 Decrease of Deterioration SIA:+3 R&D of sales volume expenses & mixture and Decrease of SG&A expenses 35 13 others US$:-22 and others EUR:-16 Reduction CA$:-14 74 In cost currency exc
Slide 6: Net Sales by Business Segment (consolidated)
1st Quarter : Net sales by Business Segment (consolidated) (100 million yen) Actual Results Actual Results Increase 1Q 1Q /Decrease FYE March 2009 FYE March 2010 Percentage of Total Sales Automobile 3,105 2,407 -699 182 224 +42 Industrial Products Aerospace Aerospace 2.2% Other 8.3% Industrial 0.9%
Slide 7: Operating Income by Business Segment (consolidated)
1st Quarter : Operating Income by Business Segment (consolidated) (100 million yen) Actual Results Actual Results Increase 1Q 1Q /Decrease FYE March 2009 FYE March 2010 Automobile 49 -217 -266 Aerospace 8 16 +9 Industrial Products -4 -3 +1 Other 11 3 -8 Elimination and Corporate 1 3 +2 Total 65 -197
Slide 8: Net Sales by Geographic Area (consolidated)
1st Quarter : Net Sales by Geographic Area (consolidated) (100 million yen) Actual Results Actual Results Increase 1Q 1Q FYE March 2009 FYE March 2010 /Decrease Percentage of Total Sales Japan 2,104 1,552 -552 North Other North America 2.3% America 1,151 1,098 -53 40.5% Other 156 64 -92 3,411 2,713
Slide 9: Operating Income by Geographic Area (consolidated)
1st Quarter : Operating Income by Geographic Area (consolidated） (100 million yen) Actual Results Actual Results Increase 1Q 1Q /Decrease FYE March 2009 FYE March 2010 Japan 50 -130 -180 North America -11 -27 -16 Other 5 1 -4 Elimination and Corporate 21 -40 -61 Total 65 -197 -261 8 http://www.fhi.c
Slide 10: Operating Results of Subsidiaries in U.S.
1st Quarter : Operating Results of Subsidiaries in U.S. (million US$) Actual Results Actual Results Increase SOA 1Q 1Q /Decrease FYE March 2009 FYE March 2010 Net Sales $869 $920 +51 Operating Income/Loss -21 -12 +9 Net Income/Loss -12 -8 +4 Retail Sales (Thousand units) 40.4 51.7 +11.3 Actual Resul
Slide 11: Analysis of Non-Operating Income and Expenses
1st Quarter : Analysis of Non-Operating Income and Expenses (100 million yen) Actual Results Actual Results Increase 1Q 1Q FYE March 2009 FYE March 2010 /Decrease Non-Operating Income 85 39 -46 Interest and dividends income 12 5 -8 Equity in earnings of affiliates 1 3 +2 Non-Operating Expenses 78 37
Slide 12: Consolidated Balance Sheets
Consolidated Balance Sheets (100 million yen) As of As of Increase March 31, 2009 June 30, 2009 /Decrease Total Assets 11,654 12,042 +387 Current Assets 5,860 6,051 +190 Noncurrent Assets 5,794 5,991 +197 Interest Bearing Debts 3,817 4,235 +418 Net Assets 3,947 3,784 -163 Retained Earnings 1,266 1,0
Slide 13: Automobile Sales (non-consolidated)
1st Quarter : Automobile Sales (non-consolidated) < Appendix > (Thousand units) Actual Results Actual Results Increase 1Q 1Q /Decrease FYE March 2008 FYE March 2009 Domestic Production 128.2 84.5 -43.7 Domestic Sales 47.4 36.0 -11.5 Passenger Car 18.1 14.6 -3.5 Minicar 29.4 21.4 -8.0 Number of Vehic
Slide 14: Outlook for the Term Ending March 2010
Outlook for the Term Ending March 2010 13 http://www.fhi.co.jp/english/ir/
Slide 15: 1st Half: Consolidated Automobile Sales Plan
1st Half : Consolidated Automobile Sales Plan < Appendix > (Thousand Units) Actual Results Plan Increase 1st Half 1st Half /Decrease FYE March 2009 FYE March 2010 Passenger car 36.3 35.3 -1.0 Minicar 57.9 42.6 -15.3 Domestic Total 94.2 77.9 -16.2 U.S. 82.0 92.7 +10.7 Canada 8.6 8.9 +0.2 Russia 15.3
Slide 16: 1st Half: Consolidated Operating Plan
1st Half : Consolidated Operating Plan < Appendix > (100 million yen) Actual Results Plan Increase 1st Half 1st Half /Decrease FYE March 2009 FYE March 2010 Net Sales 7,442 6,240 -1,202 Domestic 2,602 2,500 -102 Overseas 4,840 3,740 -1,100 Operating Income/Loss 183 -340 -523 Ordinary Income/Loss 182
Slide 17: 1st Half: Analysis of Increase and Decrease in Operating Income Changes
1st Half : Analysis of Increase and Decrease in Operating Income Changes (consolidated) <Appendix> Decrease of Deterioration R&D (100 million yen) of sales volume expenses & mixture and Decrease Reduction of SG&A In cost 18 others expenses and others 93 US$:-116 EUR:-57 85 CA$:-43 currency exchange
Slide 18: Full Year: Consolidated Automobile Sales Plan
Full Year : Consolidated Automobile Sales Plan (Thousand Units) Actual Results Plan Increase FYE March 2009 FYE March 2010 /Decrease Passenger car 70.1 73.4 +3.3 Minicar 108.7 87.0 -21.7 Domestic Total 178.8 160.3 -18.5 U.S. 188.2 194.4 +6.2 Canada 18.9 20.5 +1.6 Russia 20.7 8.4 -12.4 Europe 56.8 47
Slide 19: Full Year: Consolidated Operating Plan
Full Year : Consolidated Operating Plan (100 million yen) Actual Results Plan Increase FYE March 2009 FYE March 2010 /Decrease Net Sales 14,458 13,200 -1,258 Domestic 5,075 5,100 +25 Overseas 9,383 8,100 -1,283 Operating Income/Loss -58 -350 -292 Ordinary Income/Loss -46 -400 -354 Net Income/Loss -6
Slide 20: Full Year: Analysis of Increase and Decrease in Operating Income Changes
Full Year : Analysis of Increase and Decrease in Operating Income Changes (consolidated) Decrease of fixed Decrease Deterioration (100 million yen) cost and SG&A of SG&A of sales volume expenses, etc expenses & mixture and and others others US$:-162 EUR:-66 139 FHI: 180 SIA: 38 Reduction CA$:-43 In
Slide 21: Capex, Depreciation and R&D
Capex, Depreciation and R&D <Appendix> (100 million yen) Actual Actual Plan Results Plan Results 1st Half Increase 1Q FYE March /Decrease FYE March FYE March FYE March 2010 2009 2010 2010 Capex 580 215 310 590 +10 Depreciation 651 147 290 590 -61 R&D expenses 428 84 210 430 +2 Interest Bearing Debts
Slide 22: Non-consolidated Automobile Sales Plan
Non-consolidated Automobile Sales Plan <Appendix> (Thousand Units) Actual Results Plan Increase FYE March 2009 FYE March 2010 /Decrease Domestic Production 474.0 404.4 -69.5 Domestic Sales 186.4 168.4 -18.1 Passenger Car 76.4 78.7 +2.3 Minicar 110.0 89.7 -20.3 Number of Vehicles Exported 300.4 243.1
Slide 23: http://www.fhi.co.jp/english/ir/
22 http://www.fhi.co.jp/english/ir/
Fuji Heavy Industries — Q1 FYE March 2010 Earnings Presentation on 6ix