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Subaru fiscal Q2 profit climbs 33.2% YOY

Subaru Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥117.76 per share, an increase of 33.2% from ¥88.37 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥91.89 billion, a gain of 33.2% from ¥68.97 billion in the year-earlier period.

The normalized profit margin climbed to 11.0% from 9.6% in the year-earlier period.

Total revenue rose 16.7% year over year to ¥836.21 billion from ¥716.85 billion, and total operating expenses climbed 12.4% on an annual basis to ¥685.32 billion from ¥609.91 billion.

Reported net income rose 79.4% year over year to ¥109.02 billion, or ¥139.70 per share, from ¥60.77 billion, or ¥77.88 per share.

As of Nov. 10, US$1 was equivalent to ¥123.26.