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Subaru (7270) investor relations material
Subaru Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Consolidated revenue for the first half of FYE 2026 rose to ¥2,385.7 billion, up 5.3% year-over-year, driven by higher unit sales and improved price/mix despite negative FX impacts.
Consolidated unit sales increased by 23,000 units to 473,000, with growth in the U.S. and domestic markets.
Operating profit declined sharply to ¥102.7 billion, down 53.8% year-over-year, mainly due to U.S. tariffs, increased R&D, higher raw material costs, and adverse business conditions.
Profit attributable to owners of parent fell 44.5% year-over-year to ¥90.4 billion.
Financial highlights
Revenue: ¥2,385.7 billion (+5.3% year-over-year).
Operating profit: ¥102.7 billion (-53.8% year-over-year).
Profit before tax: ¥129.5 billion (-41% year-over-year).
Profit attributable to owners: ¥90.4 billion (-44.5% year-over-year).
Free cash flow improved to ¥157.7 billion from ¥81.1 billion.
Gross profit for the period was ¥385.7 billion, down from ¥484.0 billion a year earlier.
Basic EPS declined to ¥123.90 from ¥219.09 year-over-year.
Cash and cash equivalents at period end increased to ¥1,023.2 billion.
Outlook and guidance
Full-year FYE 2026 guidance unchanged: revenue ¥4,580 billion, operating profit ¥200 billion, profit before tax ¥230 billion, net profit ¥160 billion.
Production and consolidated unit sales targets remain at 900,000 and 920,000 units, respectively.
Capex, depreciation, and R&D guidance unchanged.
No revisions to previously announced forecasts.
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