Slide 1: Consolidated Financial Results for FYE 2023
Consolidated Financial Results for FYE 2023 SUBARU CORPORATION Tomomi Nakamura, Representative Director, President & CEO May 11 th , 2023 https://www.subaru.co.jp/en/ir/ Hello, everyone. This is Tomomi Nakamura, President and CEO of Subaru Corporation. Thank you very much for taking time out of your
Slide 2: Key Points
Key Points Results for FYE 2023 • Production: 874,000 units (up 20% y/y) While production constraints continued throughout the fiscal year, mainly due to the semiconductor shortage, global production increased year on year as the company worked to minimize the impact through measures such as flexi
Slide 3: Summary
Summary Yen in 100 millions, Units in thousands Results Plan Results Previous Plan Results Plan Variance Variance Variance FYE 2022 FYE 2023 FYE 2023 (c)-(a) (c)-(b) FYE 2024 (d)-(c) (a) (b)* (c) (d) Consolidated unit sales 734 870 852 +118 -18 1,010 +158 Production 727 880 874 +147 -6 1,010 +136 Re
Slide 4: Consolidated Financial Results for FYE 2023 (CFO)
Consolidated Financial Results for FYE 2023 SUBARU CORPORATION Katsuyuki Mizuma, Director, Executive Vice President & CFO May 11 th , 2023 https://www.subaru.co.jp/en/ir/ 4
Slide 5: Consolidated Financial Results for FYE 2023
Consolidated Financial Results for FYE 2023 https://www.subaru.co.jp/en/ir/ 5 5
Slide 6: FYE 2023: Consolidated Unit Sales / Complete Cars Production
FYE 2023 ： Consolidated Unit Sales / Complete Cars Production (Thousand Units) FYE 2022 FYE 2023 FYE 2023 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Production in U.S. 272 - 299 +27 - Production in Japan 455 - 575 +120 - Production* Total 727 880 874 +147 -6 FYE 2022 FY
Slide 7: FYE 2023: Consolidated Unit Sales (by market)
FYE 2023 ： Consolidated Unit Sales (by market) (Thousand Units) FYE 2022 FYE 2023 : Variance Results Results Passenger cars 73 81 +9 Minicars 17 19 +2 Domestic total 89 100 +10 U.S. 506 592 +85 Canada 49 43 -6 Europe 15 23 +8 Australia 33 44 +11 China 14 10 -4 Others 27 41 +13 Overseas total 645 753
Slide 8: FYE 2023: Consolidated Profit Results
FYE 2023 ： Consolidated Profit Results (100 Million Yen) FYE 2022 FYE 2023 FYE 2023 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Revenue 27,445 37,000 37,745 +10,299 +745 Domestic 4,880 - 5,810 +929 - Overseas 22,565 - 31,935 +9,370 - Operating profit 905 3,000 2,675 +1,7
Slide 9: FYE 2023: Analysis of Variance in Operating Profit
FYE 2023 : A ： n a l y s i s o f Va r i a n c e i n O p e r a t i n g P r o f i t ( C o n s o l i d a t e d ) (100 Million Yen) Includes +1.2 billion yen by the impact New car sales total： +1,881 +1,687 -1,200 of foreign currency translation on by sales volume +923 -776 balance of product warranty r
Slide 10: Previous Plan vs Results: Analysis of Variance in Operating Profit
P r e v i o u s P l a n F Y E 2 0 2 3 ( a s o f F e b r u a r y 8 th) v s R e s u l t s : A n a l y s i s o f Va r i a n c e i n O p e r a t i n g P r o f i t ( C o n s o l i d a t e d ) (100 Million Yen) +37 -201 -136 -16 -6 -3 Cost impacts Sales volume & SG&A expenses, Loss on currency mixture, et
Slide 11: Consolidated Statement of Cash Flows / Cash and cash equivalents
FYE 2023 ： Consolidated Statement of Cash Flows / Cash and cash equivalents (100 Million Yen) FYE 2022 FYE 2023 Results Results Net cash provided by (used in) operating activities 1,957 5,038 Net cash provided by (used in) investing activities -1,797 -3,368 Free cash flows 159 1,669 Net cash provide
Slide 12: Capex / Depreciation / R&D
Capex / Depreciation / R&D (100 Million Yen) FYE 2022 FYE 2023 FYE 2023 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Capex *1 861 1,300 1,228 +367 -72 Depreciation *1 946 1,000 1,030 +84 +30 R&D expenditures *2 1,138 1,100 1,078 -60 -22 *1 : Leases, capex & amortization f
Slide 13: Forecast for FYE 2024
Forecast for FYE 2024 https://www.subaru.co.jp/en/ir/ 13 13
Slide 14: FYE 2024 Plan: Consolidated Unit Sales / Complete Cars Production
FYE 2024 Plan ： Consolidated Unit Sales / Complete Cars Production (Thousand Units) FYE 2023 FYE 2024 Variance Results Plan Production in U.S. 299 - - Production in Japan 575 - - Production*1 Total 874 1,010 +136 FYE 2023 FYE 2024 Variance Results Plan Consolidated Unit Sales Total 852 1,010 +158 *1
Slide 15: FYE 2024 Plan: Consolidated Unit Sales (by market)
FYE 2024 Plan ： Consolidated Unit Sales (by market) : (Thousand Units) FYE 2023 FYE 2024 Variance Results Plan Passenger cars 81 107 +26 Minicars 19 19 +1 Domestic total 100 126 +27 U.S. 592 664 +73 Canada 43 65 +22 China 10 14 +4 Others 108 141 +33 Overseas total 753 884 +131 Total 852 1,010 +158 h
Slide 16: FYE 2024 Plan: Consolidated Profit Plan
FYE 2024 Plan ： Consolidated Profit Plan (Yen in 100 millions) FYE 2023 FYE 2024 Variance Results Plan Revenue 37,745 42,000 +4,255 Operating profit 2,675 3,000 +325 Profit before tax 2,784 3,000 +216 Profit for the period attributable to owners of parent 2,004 2,100 +96 SUBARU US$ ¥135 ¥128 -¥7 exc
Slide 17: FYE 2024: Analysis of Variance in Operating Profit
FYE 2024 : A n a l y s i s o f Va r i a n c e i n O p e r a t i n g P r o f i t ( C o n s o l i d a t e d ) (100 Million Yen) +1,520 +60 -655 R&D expenses -310 -267 Loss on currency -23 SG&A expenses, exchange Cost impacts etc. Other Sales volume & mixture, etc. 2,675 3,000 FYE 2023 FYE 2024 Results
Slide 18: Capex / Depreciation / R&D
Capex / Depreciation / R&D (100 Million Yen) FYE 2023 FYE 2024 Variance Results Plan Capex *1 1,228 1,800 +572 Depreciation *1 1,030 1,000 -30 R&D expenditures *2 1,078 1,200 +122 *1 : Leases, capex & amortization for intangible assets are not included in the results and forecast above. *2 : Researc
Slide 19: Shareholder Returns
Shareholder Returns (Yen) Dividend per share FYE2023 FYE2024 Forecast Interim Dividend 38 38 Year-end Dividend 38 38 Total 76 76 Details of the Repurchase Total number of shares to be repurchased Up to 22 million Toal value of shares to be repurchased Up to 40 billion yen Repurchase period May 1
Slide 20: Electrification Plan Status
Electrification Plan Status SUBARU CORPORATION Atsushi Osaki, Director, Executive Vice President May 11 th , 2023 https://www.subaru.co.jp/en/ir/ Hello everyone, this is Atsushi Osaki. Following the approval of our General Meeting of Shareholders on June 21, I will assume the position of Representat
Slide 21: Strategic reorganization of domestic production (Announced in May 2022)
Strategic reorganization of domestic production (Announced in May 2022) 2022 Mid-2020s 2027 or later ICE Main Plant Next-gen. HEV ICE HEV Next-gen. HEV Yajima Plant BEV Starting in-house BEV production (ICE/BEV mixed production line) Adding dedicated BEV production line BEV Oizumi Plant Engines Tran
Slide 22: Strategic reorganization of domestic production - Update
Strategic reorganization of domestic production - Update 2022 2025 2026 2028 ICE Main Plant Next-gen. HEV ICE Next-gen. HEV HEV Yajima Plant Starting in-house BEV production Total BEV Production BEV Production Capacity at Yajima: Capacity BEV 200,000 units/yr (by around 2026) at Gunma from 2028: Add
Slide 23: BEV Sales and Battery Procurement
BEV Sales and Battery Procurement Global BEV Sales Battery Procurement Aim for global sales of 200,000 BEVs in 2026 Procure batteries globally through alliance with Toyota Motor Corporation 200,000 units 2021 2022 2023 2024 2025 2026 https://www.subaru.co.jp/en/ir/ 23 Next, I would like to talk abou
Slide 24: BEV Lineup
BEV Lineup A total of four SUV models are planned for the BEV lineup by the end of 2026. Images are for illustration purposes only. https://www.subaru.co.jp/en/ir/ 24 Finally, on our BEV lineup. We currently have our first global BEV on the market, the Solterra, which we co- developed with Toyota. I
Slide 25: Appendix
Appendix • Segment information by Business & Geographic • Operating Results of Subsidiaries in U.S. • Overseas Revenue • Consolidated Financial Results for 4th Quarter (3 months) • Consolidated Statement of Financial Position • FYE 2023 Results (by Quarter) • Non-consolidated Unit Sales • Complete C
Slide 26: Revenue and Operating Profit by Business Segment (Consolidated)
FYE 2023 ： Revenue and Operating Profit by Business Segment (Consolidated) (100 Million Yen) Revenue Operating profit FYE 2022 FYE 2023 Variance FYE 2024 FYE 2022 FYE 2023 Variance FYE 2024 Results Results Plan Results Results Plan Automobile 26,775 36,906 +10,131 40,907 925 2,633 +1,707 2,962 Aeros
Slide 27: Revenue and Operating Profit by Geographic Area (Consolidated)
FYE 2023 ： Revenue and Operating Profit by Geographic Area (Consolidated) (100 Million Yen) Revenue Operating profit FYE 2022 FYE 2023 Variance FYE 2022 FYE 2023 Variance Results Results Results Results Japan 6,663 8,437 +1,774 -195 1,967 +2,162 North America 19,688 28,014 +8,326 1,109 1,105 -4 Othe
Slide 28: Overseas Revenue (Consolidated)
FYE 2023 ： Overseas Revenue (Consolidated) (100 Million Yen) FYE 2022 FYE 2023 Variance Results Results North America 20,040 28,451 +8,411 Europe 642 867 +224 Asia 734 914 +180 Other 1,149 1,704 +555 Total 22,565 31,935 +9,370 https://www.subaru.co.jp/en/ir/ 28 28
Slide 29: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (100 Million Yen) As of March As of March Variance 2022 2023 Total assets 35,438 39,442 +4,004 Current assets 20,422 24,298 +3,875 Non-current assets 15,015 15,144 +129 Total liabilities 16,427 18,342 +1,915 Interest bearing debts 3,340 3,126 -214 Total e
Slide 30: Non-consolidated Unit Sales
FYE 2023： Non-consolidated Unit Sales (Thousand Units) : FYE 2022 FYE 2023 Variance Results Results Domestic production* 455 575 +120 Domestic sales 90 105 +14 Passenger cars 73 85 +12 Minicars 17 20 +3 Export total 371 469 +98 Components for overseas 308 307 -1 production Total 769 880 +112 * Produ
Slide 31: Operating Results of Subsidiaries in U.S.
FYE 2023： Operating Results of Subsidiaries in U.S. （Million US$） FYE 2022 FYE 2023 SOA *1 Variance Results Results Net sales 16,257 19,500 +3,243 Operating income 1,095 868 -227 Net income 852 648 -204 Retail sales (Thousand units) 553 565 +12 FYE 2022 FYE 2023 SIA *2 Variance Results Results Net s
Slide 32: Consolidated Unit Sales (by market) - 4th Quarter
4 th Q u a r t e r ( 3 mo n t h s ) ： Consolidated Unit Sales (by market) (Thousand Units) : FYE 2022 FYE 2023 Variance 4Q Results 4Q Results Passenger cars 19 19 +0 Minicars 5 5 -0 Domestic total 24 24 -0 U.S. 135 155 +20 Canada 10 10 -0 Europe 3 9 +5 Australia 7 10 +4 China 3 2 -1 Others 5 8 +3 Ov
Slide 33: Consolidated Profit Results - 4th Quarter
4 th Q u a r t e r ( 3 mo n t h s ) ： Consolidated Profit Results (100 Million Yen) FYE 2022 FYE 2023 Variance 4Q Results 4Q Results Revenue 7,370 9,665 +2,295 Domestic 1,423 1,491 +68 Overseas 5,947 8,173 +2,226 Operating profit 133 538 +405 Profit before tax 157 632 +475 Profit for the period attr
Slide 34: Analysis of Variance in Operating Profit - 4th Quarter
4 th Q u a r t e r ( 3 mo n t h s ) ： A n a l y s i s o f Va r i a n c e i n O p e r a t i n g P r o f i t ( C o n s o l i d a t e d ) (100 Million Yen) +387 -256 -162 +565 Cost impacts -89 Sales volume & -40 mixture, etc. SG&A expenses, etc. R&D expenses Other New car sales total： +394 by sales vol
Slide 35: FYE 2023 Results (by Quarter)
FYE 2023 Results(by Quarter) (Yen in 100 millions, Units in thousands) FYE 2023 Results 1Q 2Q 3Q 4Q Consolidated Unit Sales 196 203 237 217 Production * 205 220 246 202 Revenue 8,341 9,168 10,571 9,665 Operating profit 370 735 1,032 538 Profit for the period attributable to owners of parent 272 506
Slide 36: Complete Cars Production / Retail Sales Units
Complete Cars Production / Retail Sales Units (1,000units） Production Retail Sales 300 280 276 278 273 276 277 271 271 268 270 269 269 269 262 262 262 264 260 264 250 258 261 257 254 254 250 249 253 249 252 246 245 241 242 242 240 236 240 237 227 229 220 220 200 212 207 209 205 202 204 202 196 193 1
Slide 37: 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