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Subaru (7270) investor relations material
Subaru Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
1Q FYE 2026 production was 247,000 units (up 3.3% y/y) and consolidated unit sales 244,000 units (up 15.1% y/y), led by Forester and Crosstrek.
Revenue rose 11.2% y/y to ¥1,214.1 billion, driven by higher unit sales despite negative FX impacts.
Operating profit for 1Q was ¥76.4 billion (down 16.2% y/y), mainly due to US tariffs, increased R&D, and higher raw material costs.
Net profit attributable to owners dropped 34.7% to ¥54.8 billion.
Commitment to maximizing profits this fiscal year, with a continued focus on the U.S. market.
Financial highlights
1Q revenue rose to ¥1,214.1 billion (up 11.2% y/y), with overseas revenue up 12.5% y/y.
Operating profit fell to ¥76.4 billion (down 16.2% y/y), and profit attributable to owners dropped to ¥54.8 billion (down 34.8% y/y).
Gross profit was ¥215.8 billion, nearly flat y/y despite higher revenue.
Basic EPS decreased to ¥75.03 from ¥112.14 y/y.
Cost reduction efforts and improved sales mix partially offset negative impacts from tariffs and currency.
Outlook and guidance
Full-year FYE 2026 forecast: operating profit of ¥200 billion (down 50.7% y/y), revenue of ¥4,580 billion (down 2.3% y/y).
Full-year consolidated unit sales expected at 920,000 units (up 2.2% from previous plan).
Full-year impact of additional U.S. tariffs estimated at ¥210 billion; profitability to be maximized through productivity and cost improvements.
Assumes FX rate of ¥145/USD for FY2026.
Dividend forecast for FY2026 is ¥115 per share.
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