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Subaru fiscal Q1 profit climbs 17.1% YOY

Subaru Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥102.30 per share, an increase of 19.2% from ¥85.83 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥78.43 billion, an increase of 17.1% from ¥66.98 billion in the prior-year period.

The normalized profit margin climbed to 9.2% from 8.7% in the year-earlier period.

Total revenue grew 11.1% on an annual basis to ¥854.77 billion from ¥769.38 billion, and total operating expenses climbed 10.1% on an annual basis to ¥735.43 billion from ¥667.84 billion.

Reported net income grew from the prior-year period to ¥82.33 billion, or ¥107.38 per share, from ¥78.87 billion, or ¥101.06 per share.

As of Aug. 9, US$1 was equivalent to ¥110.07.