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Subaru fiscal Q4 profit climbs 7.4% YOY

Subaru Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 amounted to ¥308.43 per share, an increase of 13.9% from ¥270.79 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥182.5 million, an increase of 7.4% from ¥170.0 million in the year-earlier period.

The normalized profit margin climbed to 16.3% from 15.1% in the year-earlier period.

Total revenue came to ¥1.12 billion, compared with ¥1.13 billion in the year-earlier period, and total operating expenses fell from the prior-year period to ¥835.0 million from ¥856.0 million.

Reported net income increased year over year to ¥173.0 million, or ¥292.38 per share, from ¥54.0 million, or ¥86.01 per share.

For the year, the company's normalized net income totaled ¥305.96 per share, a gain of 37.2% from ¥223.00 per share in the prior year.

Normalized net income was ¥185.6 million, a gain of 32.6% from ¥140.0 million in the prior year.

Full-year total revenue totaled ¥3.58 billion, compared with ¥3.58 billion in the prior year, and total operating expenses decreased year over year to ¥3.31 billion from ¥3.37 billion.

The company said reported net income grew year over year to ¥167.0 million, or ¥275.26 per share, in the full year, from ¥8.0 million, or ¥12.74 per share.

As of May 28, US$1 was equivalent to ¥124.24.