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Subaru fiscal Q3 profit falls YOY

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Subaru fiscal Q3 profit falls YOY

Subaru Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, was ¥80.88 per share, a decline of 44.6% from ¥145.90 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥62.09 billion, a decrease of 45.5% from ¥113.86 billion in the prior-year period.

The normalized profit margin fell to 7.3% from 13.9% in the year-earlier period.

Total revenue climbed year over year to ¥850.24 billion from ¥817.15 billion, and total operating expenses climbed 18.1% on an annual basis to ¥752.00 billion from ¥636.89 billion.

Reported net income decreased 69.8% from the prior-year period to ¥43.68 billion, or ¥56.89 per share, from ¥144.59 billion, or ¥185.28 per share.

As of Feb. 13, US$1 was equivalent to ¥113.90.