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Subaru fiscal Q1 profit climbs 32.4% YOY

Subaru Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥60.01 per share, a gain of 32.4% from ¥45.33 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥46.83 billion, a gain of 32.4% from ¥35.38 billion in the prior-year period.

The normalized profit margin climbed to 7.9% from 6.5% in the year-earlier period.

Total revenue climbed 8.5% year over year to ¥593.39 billion from ¥546.93 billion, and total operating expenses grew 7.8% from the prior-year period to ¥514.67 billion from ¥477.30 billion.

Reported net income grew 7.8% on an annual basis to ¥52.25 billion, or ¥66.95 per share, from ¥48.47 billion, or ¥62.10 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.