Slide 1: Consolidated Financial Results for FYE 2025
Consolidated Financial Results for FYE 2025 SUBARU CORPORATION Atsushi Osaki, Representative Director, President & CEO May 14 th, 2025 https://www.subaru.co.jp/en/ir/ Hello everyone, I am Atsushi Osaki, President and CEO of Subaru Corporation. Thank you very much for taking time out of your busy sch
Slide 2: Key Points
Key Points ■ Results for FYE 2025 • Production: 946,000 units (down 2.4% y/y) / Consolidated unit sales: 936,000 units (down 4.1% y/y) While production and shipment adjustments were made to optimize overseas inventory, production volume and consolidated unit sales remained roughly in line with the p
Slide 3: Summary
Summary (Yen in 100 millions, Units in thousands) Results FYE 2024 FYE 2025 FYE 2025 Variance Variance Results (a) Previous Plan* (b) Results (c) (c)-(a) (c)-(b) Consolidated unit sales 976 950 936 -40 -14 Production 970 950 946 -23 -4 Revenue 47,029 47,600 46,858 -172 -742 Operating profit 4,682 4,
Slide 4: Sales and production of the all-new Forester
Sales and production of the all-new Forester https://www.subaru.co.jp/en/ir/ 4 Finally, I would like to talk about the sales status and future production plans for the all-new Forester. The all-new Forester began sales last year in North America and this spring in Japan, and has been met with greate
Slide 5: Consolidated Financial Results for FYE 2025 (CFO)
Consolidated Financial Results for FYE 2025 SUBARU CORPORATION Shinsuke Toda, Managing Executive Officer & CFO May 14 th, 2025 https://www.subaru.co.jp/en/ir/ 5
Slide 6: Consolidated Financial Results for FYE 2025
Consolidated Financial Results for FYE 2025 https://www.subaru.co.jp/en/ir/ 6 6
Slide 7: Consolidated Unit Sales / Complete Cars Production
FYE 2025 ： Consolidated Unit Sales / Complete Cars Production (Thousand Units) FYE 2024 FYE 2025 FYE 2025 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Production in U.S. 368 - 345 -23 - Production in Japan 602 - 602 -0 - Production* Total 970 950 946 -23 -4 FYE 2024 FYE 2
Slide 8: Consolidated Unit Sales (by market)
FYE 2025 ： Consolidated Unit Sales (by market) (Thousand Units) FYE 2024 FYE 2025 FYE 2025 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Passenger cars 87 98 91 +5 -7 Minicars 12 14 13 +1 -1 Domestic total 99 112 104 +5 -8 U.S. 695 666 662 -33 -4 Canada 68 70 70 +2 -1 Euro
Slide 9: Consolidated Profit Results
FYE 2025 ： Consolidated Profit Results (100 Million Yen) FYE 2024 FYE 2025 FYE 2025 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Revenue 47,029 47,600 46,858 -172 -742 Domestic 6,275 6,724 6,514 +239 -210 Overseas 40,754 40,876 40,344 -410 -532 Operating profit 4,682 4,30
Slide 10: Analysis of Variance in Operating Profit (Consolidated)
FYE 2025 ： 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) +960 +21 -1,231 SG&A expenses, -289 -110 etc. +20 Gain on currency exchange Sales volume & R&D expenses Cost impacts Other mixture, etc. 4,682 New car sales total： -392 4,053
Slide 11: Analysis of Variance in Operating Profit vs Previous Plan
Prev ious Plan FYE 2025 (as of F e b r u a r y 7 th) v s Results 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) +26 +1 -304 +78 Gain on currency R&D expenses Cost Impacts exchange -57 +9 Sales volume & SG&A expenses, Other mixture,
Slide 12: Consolidated Statement of Cash Flows / Cash and cash equivalents
FYE 2025 ： Consolidated Statement of Cash Flows / Cash and cash equivalents (100 Million Yen) FYE 2024 FYE 2025 Results Results Net cash provided by (used in) operating activities 7,677 4,921 Net cash provided by (used in) investing activities -7,037 -4,041 Free cash flows 640 881 Net cash provided
Slide 13: Capex / Depreciation / R&D
FYE 2025 ： Capex / Depreciation / R&D (100 Million Yen) FYE 2024 FYE 2025 FYE 2025 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Capex *1 1,675 1,800 1,761 +86 -39 Depreciation *1 974 1,000 968 -5 -32 R&D expenditures *2 1,306 1,550 1,600 +294 +50 *1 : Leases, capex & amor
Slide 14: Forecast for FYE 2026
Forecast for FYE 2026 https://www.subaru.co.jp/en/ir/ 14 14
Slide 15: Forecast for FYE 2026
Forecast for FYE 2026 ■ Production / Consolidated Unit Sales Considering temporary production constraints due to construction at the Yajima plant in preparation for BEV production, aim for production and consolidated unit sales of 900 thousand units. ■ Revenue / Profit Yet to be determined, as the b
Slide 16: Shareholder Returns
Shareholder Returns (Yen) FYE2024 FYE2025 FYE2026 FYE2025 Results Previous Forecast Forecast Interim Dividend 48 48 48 57 Year-end Dividend 58 67 67 58 Annual Dividend 106 115 115 115 DOE * - 3.5% 3.5% 3.5% Share Repurchases 600 billion yen TBD - TBD Total return ratio 36.3% TBD 25.1% 40% or more *
Slide 17: Appendix
Appendix • Segment information by Business & Geographic • Operating Results of Subsidiaries in U.S. • Overseas Revenue • Consolidated Financial Results for 4 th Quarter (3 months) • Consolidated Statement of Financial Position • FYE 2025 Results (by Quarter) • Non-consolidated Unit Sales • Complete
Slide 18: Revenue and Operating Profit by Business Segment (Consolidated)
FYE 2025 ： Revenue and Operating Profit by Business Segment (Consolidated) (100 Million Yen) Revenue Operating profit FYE 2024 FYE 2025 FYE 2024 FYE 2025 Variance Variance Results Results Results Results Automobile 45,936 45,690 -246 4,615 4,204 -411 Aerospace 1,043 1,116 +73 27 -196 -223 Other 50 5
Slide 19: Revenue and Operating Profit by Geographic Area (Consolidated)
FYE 2025 ： Revenue and Operating Profit by Geographic Area ( Consolidated) (100 Million Yen) Revenue Operating profit FYE 2024 FYE 2025 FYE 2024 FYE 2025 Variance Variance Results Results Results Results Japan 9,295 9,438 +144 2,612 3,127 +515 North America 36,311 36,278 -33 2,182 1,009 -1,173 Other
Slide 20: Overseas Revenue (Consolidated)
FYE 2025 ： Overseas Revenue (Consolidated) (100 Million Yen) FYE 2024 FYE 2025 Variance Results Results North America 37,068 37,108 +40 Europe 1,157 982 -175 Asia 576 367 -209 Other 1,953 1,886 -67 Total 40,754 40,344 -410 https://www.subaru.co.jp/en/ir/ 20 20
Slide 21: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (100 Million Yen) As of March As of March Variance 2024 2025 Total assets 48,141 50,882 +2,741 Current assets 30,192 31,912 +1,720 Non-current assets 17,950 18,970 +1,021 Total liabilities 22,488 23,725 +1,238 Interest bearing debts 3,995 3,995 ±0 Total e
Slide 22: Non-consolidated Unit Sales
FYE 2025 ： Non-consolidated Unit Sales (Thousand Units) : FYE 2024 FYE 2025 Variance Results Results Domestic production* 602 602 -0 Domestic sales 101 111 +10 Passenger cars 89 97 +8 Minicars 12 14 +2 Export total 510 503 -7 Components for overseas production 364 337 -27 Total 975 951 -24 * Product
Slide 23: Operating Results of Subsidiaries in U.S.
FYE 2025 ： Operating Results of Subsidiaries in U.S. （Million US$） FYE 2024 FYE 2025 SOA *1 Variance Results Results Net sales 23,310 21,994 -1,316 Operating income 1,025 279 -746 Net income 897 334 -564 Retail sales (Thousand units) 639 679 +40 FYE 2024 FYE 2025 SIA *2 Variance Results Results Net
Slide 24: Consolidated Unit Sales (by market) - 4th Quarter
4 th Q u a r t e r ( 3 m o n t h s ) ： Consolidated Unit Sales (by market) (Thousand Units) : FYE 2024 FYE 2025 Variance 4Q Results 4Q Results Passenger cars 22 25 +3 Minicars 1 3 +2 Domestic total 24 29 +5 U.S. 176 156 -20 Canada 20 18 -2 Europe 6 7 +1 Australia 7 12 +5 China 1 1 -0 Others 7 7 -0 O
Slide 25: Consolidated Profit Results - 4th Quarter
4 th Q u a r t e r ( 3 m o n t h s ) ： Consolidated Profit Results (100 Million Yen) FYE 2024 FYE 2025 Variance 4Q Results 4Q Results Revenue 12,065 11,494 -571 Domestic 1,738 1,776 +38 Overseas 10,328 9,718 -609 Operating profit 972 362 -610 Profit before tax 1,163 225 -939 Profit for the period at
Slide 26: Analysis of Variance in Operating Profit - 4th Quarter
4 th Q u a r t e r ( 3 m o 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) +273 -506 New car sales total： -365 By sales volume -121 by price & mixture -244 SG&A expenses, -217 etc. Sales volume & -166 972 mixture, etc. -1
Slide 27: FYE 2025 Results (by Quarter)
FYE 2025 Results(by Quarter) (100 Million Yen, Thousand Units) FYE 2025 Results 1Q 2Q 3Q 4Q Consolidated Unit Sales 212 238 258 229 Production * 239 236 250 221 Revenue 10,921 11,740 12,702 11,494 Operating profit 911 1,309 1,472 362 Profit for the period attributable to owners of parent 840 790 1,5
Slide 28: Complete Cars Production / Retail Sales Units
Complete Cars Production / Retail Sales Units (1,000units） Production Retail Sales 300 280 276 278 273 277 276 271 271 268 270 269 269 269 264 262 262 262 264 260 264 250 258 261 257 250 254 250 254 250 249 253 249 252 246 245 243 241 244 239 242 242 241 241 240 236 240 236 240 237 236 232 227 229 2
Slide 29: 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