Subaru Corporation
Earnings Presentation for Second Quarter of Fiscal Year Ending March 2027
First-half results progressed as planned toward the full-year forecast of 150 billion yen. Currency depreciation and other factors will slightly boost revenue in the second half. Operating income was 116 billion yen. While cost increases such as higher raw material prices are expected in the second half, profits are projected to be built through higher vehicle sales and cost reforms. Vehicle sales were 444 thousand units in the first half, with a second-half outlook of 496 thousand units. Share buybacks are proceeding as planned, with final cancellation scheduled for March 23, 2027.
Key Figures
- Revenue (Consolidated) Unknown
- Operating Income 116 billion yen
- Shareholder Returns / Share Buybacks approx. 67 billion yen (as of 2026/10/31) currently repurchased, all to be cancelled
AI要約
Performance Overview
In the second quarter of the fiscal year ending March 2027, first-half results progressed steadily toward the full-year forecast of 150 billion yen, taking investment plans and market conditions into account. Despite the impact of currency depreciation and the deferral of some expenses to the second half, operating income totaled 116 billion yen, strengthening the earnings base through cost reforms and increased unit sales. Although cost pressures such as rising raw material prices are expected in the second half, the company intends to build profits through expanded value-chain revenue, including accessories sales. Cumulative vehicle unit sales were 473 thousand units in the first half, with the second half forecast at approximately 496 thousand units.
Capital Policy and Key Points Going Forward
The presentation materials outline progress on the share buyback and cancellation, announcing a buyback program with an upper limit of 150 billion yen. Approximately 67 billion yen had been repurchased as of October 31, 2026, with additional purchases scheduled through March 16, 2027, and all repurchased shares planned for cancellation on March 23, 2027. Regarding dividends, interim and year-end dividends will continue to be paid as part of comprehensive shareholder returns.
Subaru Corporation
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