Considering the recent business performance, Subaru Corporation (the “Company”) has revised upward the financial forecast for the fiscal year ending March 31, 2024 from the previous announcement made on May 11, 2023 as follows:
1. Financial forecast
Consolidated financial forecast for the fiscal year ending March 2024 (from April 1, 2023 to March 31, 2024)
| Revenue | Operating profit | Profit before tax | Profit for the period attributable to owners of parent | Profit for the period per share attributable to owners of parent, basic | |
| Previous forecast (A) | Millions of yen 4,200,000 | Millions of yen 300,000 | Millions of yen 300,000 | Millions of yen 210,000 | Yen 273.81 |
| Revised forecast (B) | 4,650,000 | 420,000 | 460,000 | 320,000 | 422.55 |
| Increase/Decrease (B-A) | 450,000 | 120,000 | 160,000 | 110,000 | |
| Percentage change (%) | 10.7 | 40.0 | 53.3 | 52.4 | |
| (Ref.) Results for previous fiscal year (FYE March 2023） | 3,774,468 | 267,483 | 278,366 | 200,431 | 261.33 |
2. Reason for the revision
Despite an increase in SG&A expenses and potential constraints in parts supply and logistics, the Company revises the consolidated financial forecast for the fiscal year ending March 31, 2024 from the previous announcement made on May 11, 2023 to reflect the expected effects of higher sales and profits from exchange rate fluctuations, as well as an improvement in sales mix and a decline primarily in the precious metal market. Exchange rates assumed for forecast of the full-year consolidated earnings are 140 yen per US dollar (previously 128 yen per US dollar) and 150 yen per euro (previously 138 yen per euro).
SOURCE: Subaru
