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Subaru’s Operating Profit Plunges 49%
Subaru Corp.’s operating income plummeted 49% to 196 billion yen ($1.8 billion) in the fiscal year ended March 31. Net sales declined 2% to 3.2 trillion yen ($28.8 billion).
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Subaru Corp.’s operating income plummeted 49% to 196 billion yen ($1.8 billion) in the fiscal year ended March 31. Net sales declined 2% to 3.2 trillion yen ($28.8 billion).
The company’s consolidated worldwide unit sales shrank 6% to 1 million cars and crossover vehicles, including a 17% drop to 135,000 units delivered in Japan.
Adjusted net income slid 33% to 148 billion yen ($1.3 billion).
Subaru predicts its vehicle sales in the current fiscal year will rise 6% to 1.06 million units, mainly through gains in North America. The company expects revenue will advance 3% to 3.3 trillion yen, and operating profit will jump by one-third to 260 billion yen.
Adjusted net profit this year is projected to climb 42% to 210 billion yen, as the company adopts International Financial Reporting Standards.
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