Subaru : Reference for the Third Quarter of FYE 2026

FYE 2025

FYE 2026

FYE 2025

FYE 2026

FYE 2026

Nine Months

Nine Months

Full Year

Full Year

Full Year

[ 2024. 4-12 ] RESULTS

[ 2025. 4-12 ]

RESULTS

[ '24.4 - '25.3 ] RESULTS

[ 2025.4 - 2026.3 ]

FORECASTS

['25.4-'26.3] PREVIOUS FORECASTS

Change

%

Change

%

Revenue

35,363

35,190

(174)

(0.5)

46,858

48,000

1,142

2.4

45,800

Japan

4,738

5,115

377

8.0

6,514

-

-

-

-

Overseas

30,626

30,074

(551)

(1.8)

40,344

-

-

-

-

Operating profit (loss)

3,692

663

(3,029)

(82.0)

4,053

1,300

(2,753)

(67.9)

2,000

Profit margin (%)

10.4

1.9

8.6

2.7

4.4

Profit (loss) before tax

4,260

1,190

(3,070)

(72.1)

4,485

1,800

(2,685)

(59.9)

2,300

Profit margin (%)

12.0

3.4

9.6

3.8

5.0

Profit (loss) for the period attributable

3,174

831

(2,343)

(73.8)

3,381

1,250

(2,131)

(63.0)

1,600

to owners of parent Profit margin (%)

9.0

2.4

7.2

2.6

3.5

Factors contributing to

Changes in business

(2,607)

U.S. additional tariff

(2,290)

change in operating profit

environment

impacts

Manufacturing

Foreign exchange

activities

(349)

impacts

(183)

Sales activities

344

Raw material costs

and market conditions

(386)

Cost reduction efforts

121

Manufacturing and

sales activities, etc

348

Other

(538)

Other

(242)

Exchange rates

JPY/US$

JPY/EUR

152/US$

163/EUR

148/US$

170/EUR

152/US$

162/EUR

150/US$

173/EUR

145/US$

155/EUR

Capital expenditures

1,091

1,453

1,761

2,300

2,500

Depreciation

714

742

968

1,000

1,000

R&D expenditures *

1,052

1,091

1,600

1,600

1,600

Interest bearing debts

3,975

4,130

3,995

-

-

Performance description

- First decrease in revenue in 4

years

- First increase in revenue in 2 years

- 2nd consecutive year of decrease

in operating profit

- First decrease in profit before tax

and profit attributable to owners of parent in 4 years

- 2nd consecutive year of decrease in profits at all stages

- 2nd consecutive year of decrease in consolidated unit sales

- 2nd consecutive year of decrease in consolidated unit sales

Consolidated unit sales

75

78

2

3.1

104

104

(0)

(0.2)

110

< Japan >

Passenger Cars

66

67

1

1.5

91

-

-

-

-

Minicars

10

11

1

14.2

13

-

-

-

-

Consolidated unit sales

632

598

(34)

(5.4)

832

816

(16)

(1.9)

810

< Overseas >

North America

557

530

(27)

(4.9)

732

727

(5)

(0.6)

725

Europe

16

15

(1)

(6.7)

23

89

(12)

(11.6)

85

China

2

2

(0)

(18.3)

3

Other

56

50

(6)

(10.0)

75

Consolidated unit sales total

707

676

(32)

(4.5)

936

920

(16)

(1.8)

920

Production units total

725

657

(68)

(9.4)

946

900

(46)

(4.9)

900

Japan

461

399

(61)

(13.3)

602

-

-

-

-

U.S.

264

257

(7)

(2.6)

345

-

-

-

-

Revenue by

business segment

Automobile

34,563

34,192

(371)

(1.1)

45,690

Aerospace

761

960

198

26.0

1,116

Other

39

38

(1)

(2.8)

51

Operating profit (loss)

by business segment

Automobile

3,693

581

(3,112)

(84.3)

4,204

Aerospace

(52)

32

84

-

(196)

Other

46

44

(2)

(3.9)

37

Elimination &

Corporate

5

6

1

19.6

9