FHI Announces First Half Financial Results for FYE2016
< FYE2016 1st Half Results: Consolidated Net Sales >
Subaru’s consolidated global unit sales rose 9.4% to 472,000 units. While mini vehicle sales posted an increase, unit sales in Japan fell 7.0% to 67,000 units as passenger car sales decreased due to a decline in launch momentum of new models. Overseas unit sales grew 12.7% to 406,000 units, driven by continued high demand for the Legacy and Outback, especially in North America.
FHI’s consolidated net sales rose 22.2% to 1,601.5 billion yen due to foreign exchange gains, unit sales growth and other factors.
Consolidated global unit sales marked a record high for the first-half period.*1 Consolidated net sales, overseas unit sales and North American unit sales each posted a record high for any half-year period.*1
< FYE2016 1st Half Results: Consolidated Profit and Loss >
As increases in SG&A and R&D expenses were offset by exchange rate gains, unit sales growth, cost reduction progress and other factors, operating income rose 53.6% to 285.1 billion yen while ordinary income grew 62.0% to 285.0 billion yen and net income attributable to owners of parent increased 70.9% to 193.2 billion yen.
All profit figures posted record highs for any half-year period.*1
< FYE2016 Full-Year Forecasts >
Full-year projections are revised upward to net sales of 3,210 billion yen, operating income of 550 billion yen, ordinary income of 547 billion yen, and net income attributable to owners of parent of 372 billion yen. The upward revision reflects factors including cost reduction progress, exchange rate gains and unit sales growth.
Consolidated unit sales in North America are projected to reach a record high for the seventh consecutive year.*2
Consolidated global unit sales, overseas unit sales, net sales and all profit figures are projected to post record highs for the fourth consecutive year.*2
Currency rate assumptions: 120 yen/US$, 133 yen/euro
Based on the consolidated financial results for the first half and consolidated financial forecasts for the full year, FHI plans to pay interim and year-end dividends of 72 yen per share each.
Accordingly, the annual dividend for FYE2016 will be 144 yen per share, an increase of 76 yen from 68 yen of the previous year.
< Previous Forecasts for FYE2016 (Announced on July 31, 2015) >
??Net sales: 3,030 billion yen
??Operating income: 503 billion yen
??Ordinary income: 495 billion yen
??Net income attributable to owners of parent: 337 billion yen
??Currency rate assumptions: 118 yen/US$, 127 yen/euro
*1: Since fiscal year ended March 2001 – the year FHI started half-year consolidated financial reporting
*2: Since fiscal year ended March 1986 – the year FHI started full-year consolidated financial reporting
Forward-looking statements in this document including financial and other forecasts are based on the information available at the time of the announcement and are subject to various risks and uncertainties that could cause actual results to vary materially.