Subaru Corporation · TSE:7270

Subaru — Fuji Heavy Industries — Q3 FYE March 2010 Earnings Presentation

38 slides from Subaru's earnings presentation, Feb 4, 2010

  1. Slide 1: Presentation of business results for the 3rd quarter of FYE 2010

    Presentation of business results for the 3rd quarter of FYE 2010 Fuji Heavy Industries Ltd. February 4, 2010 http://www.fhi.co.jp/english/ir/index.html 0

  2. Slide 2: A Summary of Business Results

    A Summary of Business Results http://www.fhi.co.jp/english/ir/index.html 1

  3. Slide 3: 9 months: Consolidated Automobile Sales

    9 months : Consolidated Automobile Sales (Thousand Units) Actual Results Actual Results Increase 9 months 9 months /Decrease FYE March 2009 FYE March 2010 Passenger Car 50.0 50.1 +0.1 Minicar 80.7 68.8 -11.9 Domestic Total 130.7 118.9 -11.8 U.S. 139.6 160.8 +21.2 Canada 13.0 17.7 +4.7 Russia 19.2 0.

  4. Slide 4: 9 months: Consolidated Statements of Income

    9 months : Consolidated Statements of Income (100 million yen) Actual Results Actual Results Increase 9 months 9 months /Decrease FYE March 2009 FYE March 2010 Net Sales 11,067 10,121 -946 Domestic 3,681 3,624 -57 Overseas 7,387 6,497 -889 Operating Income /Loss 99 39 -60 Ordinary Income /Loss 90 18

  5. Slide 5: Analysis of Increase and Decrease in Operating Income Changes

    9 months : Analysis of Increase and Decrease in Operating Income Changes (consolidated) Decrease Loss on (100 million yen) Decrease of of R&D currency SG&A expenses expenses exchange Japan & Overseas: and others Reduction Decrease of sales volume in cost 73 and improvement of mixture, etc Decrease o

  6. Slide 6: Net Sales by Business Segment

    9 months : Net Sales by Business Segment (consolidated) (100 million yen) Actual Results Actual Results 9 months 9 months Increase FYE FYE /Decrease Percentage of March 2009 March 2010 Total Sales Industrial Automobile 10,158 9,218 -940 Products Aerospace 6.3% 1.7% Other 530 637 0.9% Aerospace +107

  7. Slide 7: Operating Income by Business Segment

    9 months : Operating Income by Business Segment (consolidated) (100 million yen) Actual Results Actual Results Increase 9months 9 months /Decrease FYE March 2009 FYE March 2010 Automobile 84 13 -71 Aerospace -12 21 +33 Industrial -8 -20 -13 Products Other 16 17 +1 Elimination and Corporate 18 8 -10

  8. Slide 8: Net Sales by Geographic Area

    9 months : Net Sales by Geographic Area (consolidated) (100 million yen) Actual Results Actual Results 9 months 9 months Increase FYE FYE /Decrease Percentage of March 2009 March 2010 Total Sales North America Other Japan 6,507 5,711 -796 41.2% 2.4% North 4,198 4,166 -32 America Japan Other 362 244

  9. Slide 9: Operating Income by Geographic Area

    9 months : Operating Income by Geographic Area (consolidated) (100 million yen) Actual Results Actual Results Increase 9 months 9 months /Decrease FYE March 2009 FYE March 2010 Japan 5 -121 -126 North America 39 225 +186 Other 14 2 -13 Elimination and Corporate 40 -67 -107 Total 99 39 -60 http://www

  10. Slide 10: Operating Results of Subsidiaries in U.S.

    Operating Results of Subsidiaries in U.S. (million US$) Actual Results Actual Results Increase/ SOA 9 months 9 months Decrease FYE March 2009 FYE March 2010 Net Sales $3,255 $3,779 +524 Operating Income/Loss 12 185 +173 Net Income/Loss 9 115 +106 Retail Sales (Thousand units) 142.9 174.3 +31.4 Actua

  11. Slide 11: Analysis of Non-Operating Income and Expenses

    Analysis of Non-Operating Income and Expenses (100 million yen) Actual Results Actual Results Increase 9 months 9 months /Decrease FYE March 2009 FYE March 2010 Non-Operating Income 54 40 -14 Interest and dividends income 30 12 -18 Equity in earnings of affiliates 7 12 +5 Non-Operating Expenses 64 6

  12. Slide 12: Analysis of Extraordinary Income and Loss

    Analysis of Extraordinary Income and Loss (100 million yen) Actual Results Actual Results Increase 9 months 9 months /Decrease FYE March 2009 FYE March 2010 Extraordinary Income 25 7 -18 Extraordinary Loss 131 68 -62 Loss on sales and retirement of noncurrent assets 28 20 -7 Impairment loss 10 32 +2

  13. Slide 13: Consolidated Balance Sheets

    Consolidated Balance Sheets (100 million yen) As of As of Increase March 31, 2009 December 31, 2009 /Decrease Total Assets 11,654 12,054 +400 Current Assets 5,860 6,274 +414 Noncurrent Assets 5,794 5,780 -15 Interest Bearing 3,817 3,826 +9 Debts Net Assets 3,947 3,795 -152 Retained Earnings 1,266 1,

  14. Slide 14: 9 months: Non-Consolidated Automobile Sales

    9 months : Non-Consolidated Automobile Sales <Appendix> (Thousand Units) Actual Results Actual Results Increase 9 months 9 months /Decrease FYE March 2009 FYE March 2010 Domestic Production 391.7 326.1 -65.6 Domestic Sales 138.7 125.9 -12.8 Passenger Car 56.2 55.0 -1.1 Minicar 82.6 70.9 -11.7 Number

  15. Slide 15: 3Q: Consolidated Automobile Sales

    3Q : Consolidated Automobile Sales <Appendix> (Thousand Units) Actual Results Actual Results Increase 3Q 3Q /Decrease FYE March 2009 FYE March 2010 Passenger Car 13.7 16.6 +2.9 Minicar 22.8 22.9 +0.1 Domestic Total 36.5 39.5 +3.0 U.S. 57.6 62.4 +4.9 Canada 4.4 8.0 +3.7 Russia 3.9 0.3 -3.6 Europe 13.

  16. Slide 16: 3Q: Consolidated Statements of Income

    3Q : Consolidated Statements of Income <Appendix> (100 million yen) Actual Results Actual Results Increase 3Q 3Q /Decrease FYE March 2009 FYE March 2010 Net Sales 3,625 3,765 +140 Domestic 1,079 1,185 +106 Overseas 2,546 2,581 +34 Operating Income /Loss -84 153 +237 Ordinary Income /Loss -92 136 +22

  17. Slide 17: 3Q: Analysis of Increase and Decrease in Operating Income

    3Q : Analysis of Increase and Decrease in Operating Income Changes <Appendix> Decrease Loss on (100 million yen) Decrease of R&D currency Cost in expenses exchange of SG&A reduction expenses Improvement of sales and others 47 17 volume & -118 mixture and 73 FHI: +27 others SIA: +20 US$: -120 Decreas

  18. Slide 18: Outlook for the Term Ending March 2010

    Outlook for the Term Ending March 2010 http://www.fhi.co.jp/english/ir/index.html 17

  19. Slide 19: 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 74.5 +4.4 Minicar 108.7 96.5 -12.2 Domestic Total 178.8 171.0 -7.8 U.S. 188.2 225.1 +36.9 Canada 18.9 22.9 +4.0 Russia 20.7 1.7 -19.0 Europe 56.8 36

  20. Slide 20: 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 14,100 -358 Domestic 5,075 5,200 +125 Overseas 9,383 8,900 -483 Operating Income /Loss -58 140 +198 Ordinary Income /Loss -46 100 +146 Net Income/Loss -699

  21. Slide 21: Full Year: Analysis of Increase and Decrease in Operating Income

    Full Year : Analysis of Increase and Decrease in Operating Income Changes (100 million yen) Improvement Decrease of fixed of sales Loss on US$: -268 cost & SG&A, etc Decrease volume & Euro: -40 of SG&A mixture and currency CA$: -29 expenses 38 others exchange Currency exchange and others Decrease 9

  22. Slide 22: Operating Plan of Subsidiaries in U.S.

    Operating Plan of Subsidiaries in U.S. (million US$) Actual Results Plan Increase/ SOA FYE March 2009 FYE March 2010 Decrease Net Sales $4,346 $5,278 +932 Operating Income 9 200 +191 Net Income 14 125 +111 Retail Sales (Thousand units) 186.2 226.0 +39.8 Actual Results Plan Increase/ SIA FYE March 20

  23. Slide 23: Capex / Depreciation / R&D

    Capex / Depreciation / R&D <Appendix> (100 million yen) Original Plan Previous Plan Actual Results Actual Results Revised Plan Increase/ FYE March FYE March For the 3Q FYE March FYE March Decrease 2010 2010 FYE March 2009 (1) 2010 (2) <(2)-(1)> (May, 2009) (Nov, 2009) 2010 Capex 580 590 560 440 560

  24. Slide 24: 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 474.0 451.2 -22.8 Domestic Sales 186.4 176.2 -10.2 Passenger Car 76.4 79.3 +2.9 Minicar 110.0 96.9 -13.1 Number of Vehicles exported 300.4 277.2

  25. Slide 25: 2nd Half: Consolidated Automobile Sales Plan

    2nd Half : Consolidated Automobile Sales Plan <Appendix> (Thousand Units) Actual Results Plan Increase/ 2nd Half 2nd Half Decrease FYE March 2009 FYE March 2010 Passenger Car 33.8 41.0 +7.2 Minicar 50.8 50.6 -0.2 Domestic Total 84.6 91.6 +7.0 U.S. 106.2 126.8 +20.5 Canada 10.3 13.2 +3.0 Russia 5.4 1

  26. Slide 26: 2nd Half: Consolidated Operating Plan

    2nd Half : Consolidated Operating Plan <Appendix> (100 million yen) Actual Results Plan Increase/ 2nd Half 2nd Half Decrease FYE March 2009 FYE March 2010 Net Sales 7,016 7,745 +729 Domestic 2,473 2,761 +288 Overseas 4,542 4,983 +441 Operating Income /Loss -241 254 +496 Ordinary Income /Loss -228 21

  27. Slide 27: 2nd Half: Analysis of Increase and Decrease in Operating Income

    2nd Half : Analysis of Increase and Decrease in Operating Income Changes <Appendix> Decrease (100 million yen) of SG&A Loss on expenses currency and others exchange Increase Cost in Improvement reduction 73 -122 of R&D of sales volume & expenses mixture and 143 others Decrease of fixed -18 254 cost

  28. Slide 28: 4Q: Consolidated Automobile Sales Plan

    4Q : Consolidated Automobile Sales Plan <Appendix> (Thousand Units) Actual Results Plan Increase/ 4Q 4Q Decrease FYE March 2009 FYE March 2010 Passenger Car 20.1 24.4 +4.3 Minicar 28.0 27.7 -0.3 Domestic Total 48.1 52.1 +4.0 U.S. 48.7 64.3 15.6 Canada 5.9 5.2 -0.7 Russia 1.5 1.2 -0.4 Europe 8.9 9.2

  29. Slide 29: 4Q: Consolidated Operating Plan

    4Q : Consolidated Operating Plan <Appendix> (100 million yen) Actual Results Plan Increase/ 4Q 4Q Decrease FYE March 2009 FYE March 2010 Net Sales 3,391 3,979 +589 Domestic 1,394 1,576 +182 Overseas 1,996 2,403 +407 Operating Income /Loss -157 101 +258 Ordinary Income /Loss -136 82 +218 Net Income/L

  30. Slide 30: 4Q: Analysis of Increase and Decrease in Operating Income

    4Q : Analysis of Increase and Decrease in Operating Income Changes (100 million yen) FHI: +77 SIA: +19 Increase Cost in of R&D Loss on reduction expenses currency -35 Improvement of sales exchange volume & mixture and 96 -4 others 101 201 US$: -40 Euro: +8 -157 CA$: +5 Currency exchange Japan & Over

  31. Slide 31: Difference from Previous Outlook

    <Appendix> Difference from Previous Outlook http://www.fhi.co.jp/english/ir/index.html 30

  32. Slide 32: Full Year Automobile Sales: Original Plan vs. Revised Plan

    Full Year : Consolidated Automobile Sales Original Plan (May, 2009) vs. Revised Plan (Thousand Units) Original Plan Revised Plan Increase/ FYE March 2010 FYE March 2010 Decrease (May, 2009) Passenger Car 73.4 74.5 +1.1 Minicar 87.0 96.5 +9.5 Domestic Total 160.3 171.0 +10.7 U.S. 194.4 225.1 +30.7 Ca

  33. Slide 33: Full Year Operating Plan: Original Plan vs. Revised Plan

    Full Year : Consolidated Operating Plan Original Plan (May, 2009) vs. Revised Plan (100 million yen) Original Plan Revised Plan Increase/ FYE March 2010 FYE March 2010 Decrease (May, 2009) Net Sales 13,200 14,100 +900 Domestic 5,100 5,200 +100 Overseas 8,100 8,900 +800 Operating Income /Loss -350 14

  34. Slide 34: Operating Income Changes: Original Plan vs. Revised Plan

    Full Year : Analysis of Increase and Decrease in Operating Income Changes Original Plan (May, 2009) vs. Revised Plan (100 million yen) Decrease Loss on Decrease of R&D currency Improvement of SG&A Cost in expenses exchange of sales expenses reduction -68 40 volume & and others mixture and 58 40 140

  35. Slide 35: Full Year Automobile Sales: Previous Plan vs. Revised Plan

    Full Year : Consolidated Automobile Sales Previous Plan (Nov, 2009) vs. Revised Plan (Thousand Units) Previous Plan Revised Plan Increase/ FYE March 2010 FYE March 2010 Decrease (Nov, 2009) Passenger Car 71.4 74.5 +3.1 Minicar 94.9 96.5 +1.6 Domestic Total 166.3 171.0 +4.7 U.S. 216.4 225.1 +8.7 Cana

  36. Slide 36: Full Year Operating Plan: Previous Plan vs. Revised Plan

    Full Year : Consolidated Operating Plan Previous Plan (Nov, 2009) vs. Revised Plan (100 million yen) Previous Plan Revised Plan Increase/ FYE March 2010 FYE March 2010 Decrease (Nov, 2009) Net Sales 13,600 14,100 +500 Domestic 5,100 5,200 +100 Overseas 8,500 8,900 +400 Operating Income 10 140 +130 O

  37. Slide 37: Operating Income Changes: Previous Plan vs. Revised Plan

    Full Year : Analysis of Increase and Decrease in Operating Income Changes Previous Plan (Nov, 2009) vs. Revised Plan (100 million yen) Decrease Cost in of SG&A Improvement reduction expenses 10 -7 16 of sales volume & and others Decrease Loss on mixture and others 17 of R&D currency FHI: +5 SIA: +11

  38. Slide 38: Thank you!

    Thank you ! http://www.fhi.co.jp/english/ir/index.html 37

Fuji Heavy Industries — Q3 FYE March 2010 Earnings Presentation on 6ix