Slide 1: Consolidated Financial Results for the 1st Quarter of FYE 2018
Consolidated Financial Results for the 1st Quarter of FYE 2018 株式会社ＳＵＢＡＲＵ 取締役専務執行役員CFO 岡田 稔明 2017年8月3日 SUBARU CORPORATION Toshiaki Okada Corporate Executive Vice President & CFO August 3, 2017 https://www.subaru.co.jp/en/ir/ 0 0
Slide 2: Summary
Summary Consolidated Financial Results for the 1st Quarter (3 months) of FYE 2018 Consolidated unit sales posted record results for a fiscal first quarter. Consolidated net sales increased mainly due to higher automobile unit sales and foreign exchange gains. Operating income increased mainly due
Slide 3: Consolidated Financial Results for the 1st Quarter (3 months) of FYE 2018
Consolidated Financial Results for the 1st Quarter (3 months) of FYE 2018 https://www.subaru.co.jp/en/ir/ 2 2
Slide 4: 1Q (3 months): Consolidated Unit Sales
1Q (3 months) : Consolidated Unit Sales （Thousand Units） Actual Results Actual Results 1Q (3 months) 1Q (3 months) Variance FYE 2017 FYE 2018 Passenger car 24.5 33.3 +8.7 Minicar 6.6 7.2 +0.6 Domestic total 31.2 40.5 +9.3 US 155.0 174.0 +18.9 Canada 15.4 15.5 +0.1 Russia 1.9 1.8 -0.1 Europe 8.7 8.3
Slide 5: 1Q (3 months): Consolidated Income Statements
1Q (3 months) : Consolidated Income Statements （100 Million Yen） Actual Results Actual Results 1Q (3 months) 1Q (3 months) Variance FYE 2017 FYE 2018 Net sales 7,694 8,548 +854 Domestic 1,303 1,605 +302 Overseas 6,391 6,943 +552 Operating income 1,015 1,193 +178 Total non-operating income & expenses
Slide 6: 1Q (3 months): Analysis of Variance in Operating Income (Consolidated)
1Q (3 months) : Analysis of Variance in Operating Income (Consolidated) （100 Million Yen） Gain on Fixed cost : -64 (SUBARU -20, SIA -44) Sales volume currency Cost SG&A : -220 (SUBARU -25, SOA -183, others) & mixture exchange Warranty claims : +246 and others Reduction +16 +3 +223 SG&A R&D US$ : +36
Slide 7: Consolidated Balance Sheets
Consolidated Balance Sheets （100 Million Yen） As of March As of June Variance 2017 2017 Total assets 27,623 27,812 +189 Current assets 18,453 18,395 -58 Noncurrent assets 9,171 9,417 +247 Total liabilities 12,974 12,857 -118 Interest bearing debts 1,483 1,107 -375 Net assets 14,649 14,955 +306 Retai
Slide 8: 1Q (3 months): Consolidated Statement of Cash Flows
1Q (3 months) : Consolidated Statement of Cash Flows （100 Million Yen） Actual Results Actual Results 1Q (3 months) 1Q (3 months) Variance FYE 2017 FYE 2018 Net cash provided by (used in) operating activities 621 1,411 +790 Net cash provided by (used in) investing activities -647 -384 +263 Free cash
Slide 9: 1Q (3 months): Operating Results of Subsidiaries in U.S.
1Q (3 months) : Operating Results of Subsidiaries in U.S. （Million US$） Actual Results Actual Results SOA 1Q (3 months) FYE 2017 1Q (3 months) FYE 2018 Variance Net sales 4,079 4,726 +647 Operating income 219 139 -80 Net income 135 88 -47 Retail sales (Thousand units) 146.7 160.0 +13.3 Actual Result
Slide 10: Forecasts for FYE 2018
Forecasts for FYE 2018 https://www.subaru.co.jp/en/ir/ 9 9
Slide 11: FYE 2018: Consolidated Operating Plan
FYE 2018 : Consolidated Operating Plan （100 Million Yen） Actual results Plan Variance FYE 2017 FYE 2018 Net sales 33,260 34,200 +940 Operating income 4,108 4,100 -8 Ordinary income 3,943 4,100 +157 Net income attributable 2,824 2,850 +26 to owners of parent SUBARU exchange rate ¥108/US$ ¥110/US$ +¥2
Slide 12: Capex / Depreciation / R&D / Interest bearing debt
Capex / Depreciation / R&D / Interest bearing debt （100 Million Yen） Actual Results Actual Results Actual Results Plan Variance 1Q (3 months) FYE2017 1Q (3 months) FYE2018 (b) - (a) FYE2017 (a) FYE 2018 (b) Capex 368 1,585 220 1,500 -85 Depreciation 159 770 202 920 +150 R&D 236 1,142 262 1,340 +198
Slide 13: Appendix(1)
Appendix(1) •Non- Non-operating income & expenses and extraordinary income & loss (1Q) •Segment information by business & geographic (1Q) •Overseas net sales (1Q) •Non- Non-consolidated unit sales (1Q) •Plan for FYE 2018 •Plan for 1st half of FYE 2018 https://www.subaru.co.jp/en/ir/ 12 12
Slide 14: 1Q (3 months): Non-operating Income & Expenses and Extraordinary Income & Loss
1Q (3 months) : Non-operating Income & Expenses and Extraordinary Income & Loss (Consolidated) （100 Million Yen） Actual Results Actual Results 1Q (3 months) 1Q (3 months) Variance FYE2017 FYE 2018 Financial revenue and expenditure 6 11 +5 FOREX effects +171 -8 -179 Other -5 -4 +1 Total non-operating
Slide 15: 1Q (3 months): Net Sales and Operating Income by Business Segment
1Q (3 months) : Net Sales and Operating Income by Business Segment (Consolidated) （100 Million Yen） Net Sales Operating Income Actual Results Actual Results Actual Results Actual Results 1Q 1Q 1Q 1Q Variance Variance (3 months) (3 months) (3 months) (3 months) FYE 2017 FYE 2018 FYE 2017 FYE 2018 Aut
Slide 16: 1Q (3 months): Net Sales and Operating Income by Geographic Area
1Q (3 months) : Net Sales and Operating Income by Geographic Area (Consolidated) （100 Million Yen） Net Sales Operating Income Actual Results Actual Results Actual Results Actual Results 1Q 1Q 1Q 1Q Variance Variance (3 months) (3 months) (3 months) (3 months) FYE 2017 FYE 2018 FYE 2017 FYE 2018 Japa
Slide 17: 1Q (3 months): Overseas Net Sales (Consolidated)
1Q (3 months) : Overseas Net Sales (Consolidated) （100 Million Yen） Actual Results Actual Results 1Q (3 months) 1Q (3 months) Variance FYE 2017 FYE 2018 North America 5,177 5,917 +740 Europe 269 254 -16 Asia 531 360 -171 Other 413 412 -1 Total 6,391 6,943 +552 https://www.subaru.co.jp/en/ir/ 16 16
Slide 18: 1Q (3 months): Non-consolidated Unit Sales
1Q (3 months) : Non-consolidated Unit Sales （Thousand Units） Actual Results Actual Results 1Q (3 months) 1Q (3 months) Variance FYE 2017 FYE 2018 Domestic production 179.4 176.3 -3.1 Domestic sales 32.8 44.5 +11.7 Passenger cars 26.0 36.7 +10.6 Minicars 6.8 7.8 +1.0 Number of exported vehicles 148.2
Slide 19: Plan for FYE 2018: Consolidated Unit Sales
Plan for FYE 2018 : Consolidated Unit Sales （Thousand units） Actual results Plan Variance FYE 2017 FYE 2018 Passenger car 126.4 134.2 +7.8 Minicar 32.5 37.8 +5.3 Domestic total 158.9 172.1 +13.1 US 667.6 687.7 +20.1 Canada 53.1 54.6 +1.5 Russia 5.3 6.6 +1.3 Europe 40.9 39.2 -1.7 Australia 49.1 52.6
Slide 20: Plan for FYE 2018: Consolidated Income Statements
Plan for FYE 2018 : Consolidated Income Statements （100 Million Yen） Actual Results Plan Variance FYE2017 FYE2018 Net sales 33,260 34,200 +940 Domestic 6,503 6,680 +176 Overseas 26,756 27,520 +764 Operating income 4,108 4,100 -8 Ordinary income 3,943 4,100 +157 Income before taxes and minority inter
Slide 21: Plan FYE 2018: Analysis of Variance in Operating Income
Plan FYE 2018: Analysis of Variance in Operating Income (Consolidated) Fixed cost : -245 （100 Million Yen） (SUBARU-99, SIA -146) Gain on SG&A : -436 Sales volume currency (SUBARU-90, SOA -300, others) SUBARU: -76 & mixture exchange Warranty claims : +403 (material cost -160) and others +211 SIA : +5
Slide 22: Plan for 1st Half of FYE 2018: Consolidated Unit Sales Plan
Plan for 1st Half of FYE 2018: Consolidated Unit Sales Plan （Thousand Units） 1st Half Actual Results 1st Half Plan Variance FYE 2017 FYE2018 Passenger car 52.5 65.2 +12.7 Minicar 15.6 17.4 +1.8 Domestic total 68.0 82.6 +14.5 US 326.9 335.0 +8.0 Canada 28.4 30.1 +1.7 Russia 3.7 3.7 -0.0 Europe 18.4 1
Slide 23: Plan for 1st Half of FYE 2018: Consolidated Income Statements
Plan for 1st Half of FYE 2018 : Consolidated Income Statements （100 Million Yen） 1st Half Actual Results 1st Half Plan Variance FYE 2017 FYE2018 Net sales 15,777 16,890 +1,113 Domestic 2,860 3,286 +426 Overseas 12,916 13,604 +688 Operating income 2,085 2,100 +15 Ordinary income 2,278 2,100 -178 Inco
Slide 24: Plan for 1st Half of FYE 2018: Analysis of Variance in Operating Income
Plan for 1st Half of FYE 2018: Analysis of Variance in Operating Income (Consolidated) （100 Million Yen） Fixed cost：-127 (SUBARU-46, SIA -81) Gain on SG&A：-352 Sales volume Currency (SUBARU-72, SOA -242, others) & mixture Warranty claims：+239 SUBARU: -50 Exchange and others (material cost -92) +147
Slide 25: Appendix(2)
Appendix(2) •Net Sales / Operating Income •Consolidated Unit Sales / OPM •Complete Cars Production / Retail Sales Units •FCF / Shareholder’ Shareholder’s Equity to Total Assets •Interest- Interest-Bearing Debt / D/E ratio https://www.subaru.co.jp/en/ir/ 24 24
Slide 26: Net Sales / Operating Income
Net Sales / Operating Income ¥102/$ ¥102/$ ¥110/$ ¥118/$ ¥120/$ ¥123/$ ¥121/$ ¥118/$ ¥111/$ ¥104/$ ¥105/$ ¥114/$ ¥112/$ Operating Net Sales Income (100M yen) (100M yen) https://www.subaru.co.jp/en/ir/ 25 25
Slide 27: Consolidate Unit Sales & Operating Income Margin
Consolidate Unit Sales & Operating Income Margin Unit sales (1,000 units) OPM https://www.subaru.co.jp/en/ir/ 26 26
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/ 27 27
Slide 29: Free Cash Flows & Ratio of Shareholders' Equity to Total Asset
Free Cash Flows & Ratio of Shareholders’ Equity to Total Asset https://www.subaru.co.jp/en/ir/ 28 28
Slide 30: Interest Bearing Debt & D/E Ratio
Interest Bearing Debt & D/E Ratio https://www.subaru.co.jp/en/ir/ 29 29
Slide 31: Forward-looking statements disclaimer
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
Slide 32: https://www.subaru.co.jp/en/ir/
https://www.subaru.co.jp/en/ir/ 31 31