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Subaru fiscal Q4 profit climbs 12.2% YOY

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Subaru fiscal Q4 profit climbs 12.2% YOY

Subaru Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥73.76 per share, an increase of 12.3% from ¥65.71 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥57.56 billion, an increase of 12.2% from ¥51.28 billion in the year-earlier period.

The normalized profit margin fell to 7.0% from 7.3% in the year-earlier period.

Total revenue rose 16.8% year over year to ¥817.19 billion from ¥699.61 billion, and total operating expenses climbed 16.1% from the prior-year period to ¥705.28 billion from ¥607.50 billion.

Reported net income increased 185.2% year over year to ¥71.52 billion, or ¥91.65 per share, from ¥25.08 billion, or ¥32.13 per share.

For the year, the company's normalized net income totaled ¥312.67 per share, compared to EPS of ¥244.13 in the prior year.

Normalized net income was ¥244.01 billion, an increase from ¥190.52 billion in the prior year.

Full-year total revenue grew year over year to ¥2.878 trillion from ¥2.408 trillion, and total operating expenses increased year over year to ¥2.456 trillion from ¥2.083 trillion.

The company said reported net income rose on an annual basis to ¥261.87 billion, or ¥335.57 per share, in the full year, from ¥206.62 billion, or ¥264.76 per share.

As of June 24, US$1 was equivalent to ¥124.31.