Slide 1: Consolidated Financial Results for FYE 2021
Consolidated Financial Results for FYE 2021 SUBARU CORPORATION Katsuyuki Mizuma, Executive Vice President & CFO May 11th, 2021 https://www.subaru.co.jp/en/ir/
Slide 2: Summary
Summary (Yen in 100 millions, Units in thousands) Results Plan FYE 2020 FYE 2021 FYE 2021 Variance Variance FYE 2022 Variance Results(a) Previous Plan(b)* Results(c) (c)-(a) (c)-(b) Plan(d) (d)-(c) Consolidated Unit Sales 1,033.9 867.9 860.2 -173.7 -7.7 1,000.0 +139.8 Production 1,030.9 823.4 809.9
Slide 3: Consolidated Financial Results for FYE 2021
Consolidated Financial Results for FYE 2021 https://www.subaru.co.jp/en/ir/ 3
Slide 4: Consolidated Unit Sales (by market)
FYE 2021 : Consolidated Unit Sales (by market) (Thousand Units) FYE 2020 FYE 2021 FYE 2021 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Passenger cars 101.9 85.5 81.9 -20.0 -3.6 Minicars 23.9 20.7 19.9 -4.0 -0.8 Domestic total 125.8 106.2 101.8 -24.0 -4.4 U.S. 701.6 613.4
Slide 5: Consolidated Unit Sales / Complete Cars Production
FYE 2021 : Consolidated Unit Sales / Complete Cars Production (Thousand Units) FYE 2020 FYE 2021 FYE 2021 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Consolidated Unit Sales Total 1,033.9 867.9 860.2 -173.7 -7.7 FYE 2020 FYE 2021 FYE 2021 Variance Variance Results(a) Pre
Slide 6: Consolidated Profit Results
FYE 2021 : Consolidated Profit Results (100 Million Yen) FYE 2020 FYE 2021 FYE 2021 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Revenue 33,441 28,500 28,302 -5,139 -198 Domestic 5,727 5,115 4,983 -743 -132 Overseas 27,714 23,385 23,319 -4,396 -66 Operating profit 2,103 1
Slide 7: Analysis of Variance in Operating Profit (Consolidated)
FYE 2021 : Analysis of Variance in Operating Profit (Consolidated) (100 Million Yen) +713 -1,284 SG&A expenses, -204 etc. -171 -117 Sales volume & -16 mixture, etc. Loss on currency Cost reduction, exchange R&D expenses Other etc. FYE 2020 FYE 2021 Results -1,079 Results Sales volume Curerncy SG&A e
Slide 8: Analysis of Variance in Operating Profit (Consolidated)
Previous Plan FYE 2021 (as of February 5th) vs Results : Analysis of Variance in Operating Profit (Consolidated) (100 Million Yen) +85 +21 -178 +184 -39 -48 R&D expenses Gain on currency exchange Sales volume & Cost reduction, SG&A expenses, mixture, etc. Other etc. etc. FYE 2021 FYE 2021 Previous P
Slide 9: Consolidated Statement of Cash Flows / Cash and cash equivalents
FYE 2021 : Consolidated Statement of Cash Flows / Cash and cash equivalents (100 Million Yen) FYE 2020 FYE 2021 Results Results Net cash provided by (used in) operating activities 2,101 2,894 Net cash provided by (used in) investing activities -258 -2,722 Free cash flows 1,843 172 Net cash provided
Slide 10: Capex / Depreciation / R&D
Capex / Depreciation / R&D (100 Million Yen) FYE 2020 FYE 2021 FYE 2021 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Capex *1 1,260 900 862 -398 -38 Depreciation *1 961 1,000 950 -11 -50 R&D expenditures *2 1,187 1,000 1,016 -171 +16 *1 : Leases, capex & amortization for
Slide 11: Forecast for FYE 2022
Forecast for FYE 2022 https://www.subaru.co.jp/en/ir/ 11
Slide 12: Consolidated Profit Plan
FYE 2022 Plan : Consolidated Profit Plan (Yen in 100 millions, Units in thousands) FYE 2021 FYE 2022 Variance Results Plan Consolidated Unit Sales 860.2 1,000.0 +139.8 Production * 809.9 1,030.0 +220.1 Revenue 28,302 33,000 +4,698 Operating profit 1,025 2,000 +975 Profit before tax 1,140 2,030 +890
Slide 13: Analysis of Variance in Operating Profit (Consolidated)
FYE 2022 Plan : Analysis of Variance in Operating Profit (Consolidated) (100 Million Yen) +1,500 -355 +300 -70 SG&A expenses, Cost reduction R&D expenses Effort for +200 -600 etc. improvement Gain on currency exchange Material cost, Sales volume & etc. mixture, etc. FYE 2021 FYE 2022 Results +975 Pl
Slide 14: Capex / Depreciation / R&D
Capex / Depreciation / R&D (100 Million Yen) FYE 2021 FYE 2022 Variance Results Plan Capex *1 862 1,000 +138 Depreciation *1 950 1,000 +50 R&D expenditures *2 1,016 1,200 +184 *1 : Leases, capex & amortization for intangible assets and lease liabilities are not included in the results and forecast a
Slide 15: Shareholder Returns
Shareholder Returns (Yen) Dividend per share FYE 2022 FYE 2021 Forecast * Interim dividend 28 28 Year-end Dividend 28 28 Total 56 56 Payout ratio 56.1% 30.7% ＊Payout ratio：Based on the number of shares in the previous term https://www.subaru.co.jp/en/ir/ 15
Slide 16: Appendix (1)
Appendix (1) • Segment information by Business & Geographic • FYE 2021 Results (by Quarter) • Overseas Revenue • Complete Cars Production / Retail Sales Units • Consolidated Statement of Financial Position • Non-consolidated Unit Sales • Operating Results of Subsidiaries in U.S. https://www.subaru.c
Slide 17: Revenue and Operating Profit by Business Segment (Consolidated)
FYE 2021 : Revenue and Operating Profit by Business Segment (Consolidated) (100 Million Yen) Revenue Operating profit FYE 2020 FYE 2021 FYE 2020 FYE 2021 Variance Variance Results Results Results Results Automobile 31,939 27,375 -4,564 2,003 1,091 -912 Aerospace 1,421 877 -544 51 -98 -149 Other 80 5
Slide 18: Revenue and Operating Profit by Geographic Area (Consolidated)
FYE 2021 : Revenue and Operating Profit by Geographic Area (Consolidated) (100 Million Yen) Revenue Operating profit FYE 2020 FYE 2021 FYE 2020 FYE 2021 Variance Variance Results Results Results Results Japan 8,707 6,752 -1,955 1,027 -356 -1,383 North America 23,118 20,302 -2,816 1,151 1,027 -124 Ot
Slide 19: Overseas Revenue (Consolidated)
FYE 2021 : Overseas Revenue (Consolidated) (100 Million Yen) FYE 2020 FYE 2021 Variance Results Result North America 24,131 20,830 -3,301 Europe 1,162 536 -627 Asia 1,064 940 -123 Other 1,357 1,012 -345 Total 27,714 23,319 -4,396 https://www.subaru.co.jp/en/ir/ 19
Slide 20: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (100 Million Yen) As of March As of March Variance 2020 2021 Total assets 32,939 34,117 +1,178 Current assets 19,788 19,828 +41 Non-current assets 13,151 14,289 +1,137 Total liabilities 15,738 16,253 +515 Interest bearing debts 2,392 3,339 +947 Total equi
Slide 21: Non-consolidated Unit Sales
FYE 2021 : Non-consolidated Unit Sales (Thousand Units) FYE 2020 FYE 2021 Variance Results Result Domestic production* 663.6 524.7 -138.9 Domestic sales 128.5 105.7 -22.8 Passenger cars 103.8 84.5 -19.3 Minicars 24.7 21.2 -3.5 Number of exported vehicles 551.2 438.8 -112.3 Components for overseas 38
Slide 22: Operating Results of Subsidiaries in U.S.
FYE 2021: Operating Results of Subsidiaries in U.S. （Million US$） Results Results SOA *1 Variance FYE 2020 FYE 2021 Net sales 19,957 18,028 -1,929 Operating income 880 966 +85 Net income 681 831 +150 Retail sales (Thousand units) 671.3 639.7 -31.6 Results Results SIA *2 Variance FYE 2020 FYE 2021 Ne
Slide 23: FYE 2021 Results (by Quarter)
FYE 2021 Results (by Quarter) (Yen in 100 millions, Units in thousands) FYE 2021 Results 1Q 2Q 3Q 4Q Consolidated Unit Sales 133.1 230.3 267.8 229.1 Production * 92.2 261.7 260.4 195.6 Revenue 4,570 7,614 8,564 7,554 Operating profit -157 463 676 42 Profit for the period attributable -77 314 505 23
Slide 24: Complete Cars Production / Retail Sales Units
Complete Cars Production / Retail Sales Units (1,000units） Production Retail Sales 300 280 278 277 276 276 273 271 271 270 269 269 269 268 264 264 262 262 262 261 260 258 250 257 254 254 253 253 252 249 250 249 248 245 244 242 242 242 241 240 240 237 237 236 233 231 229 227 200 204 196 182 150 100 9
Slide 25: Forward-looking statements
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