Subaru Enterprise Co (9632) Q4 2025 earnings summary

Executive summary

• Revenue increased by 3.5% year-over-year to ¥30,274 million, surpassing the mid-term plan target.

• Operating income declined 1.9% year-over-year to ¥4,808 million, and net income attributable to shareholders fell 1.4% to ¥3,238 million.

• Segment performance was mixed, with strong growth in road-related and real estate, but a sharp decline in leisure.

Financial highlights

• Gross profit was ¥6,975 million, with an operating margin of 15.9% and net margin of 10.2%.

• Total assets rose to ¥40,822 million, and equity increased to ¥35,623 million.

• Cash and equivalents at year-end were ¥12,127 million, down ¥172 million from the prior year.

• Dividend per share was ¥80 (post-split basis), with a payout ratio of 31.8%.

Outlook and guidance

• For the next fiscal year, revenue is forecast to decrease 3.1% to ¥29,329 million, with operating income down 6.3% and net income down 6.5%.

• Management cites ongoing economic uncertainty, cost pressures, and a challenging competitive environment.