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SUBARU, First Half Ordinary Profit Loss Widens, Jun-Aug Ordinary Profit Decreases by 10%

Fri Oct 10, 2025 3:00 pm JST Earnings

9778 SUBARU CO., LTD. 【J-GAAP】

Earnings Report

SUBARU CO., LTD. <9778> [TSE Std] announced its financial results in the afternoon session on October 10th (15:00). The ordinary loss (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2026 (March to August) expanded to a loss of 54 million yen (compared to a loss of 38 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the September to February period (second half) is expected to expand 39.3% from the same period last year, reaching 202 million yen.

In the most recent three-month period, from June to August (2Q), the ordinary profit decreased to 47 million yen, a 9.6% decrease compared to the same period last year. The operating profit margin worsened from 5.3% in the same period last year to 4.9%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Mar - Aug, 2023 1,654 -39 -29 -36 -62.1 ー Oct 13, 2023 J-GAAP
Mar - Aug, 2024 1,637 -45 -38 -33 -56.1 ー Oct 11, 2024 J-GAAP
Mar - Aug, 2025 1,584 -60 -54 -36 -61.3 ー Oct 10, 2025 J-GAAP
YoY -3.2% -33.3% -42.1% -9.1% -9.2%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2025 Guidance ー ー ー ー － 0 Apr 11, 2025 J-GAAP
Mar - Aug, 2025 Results 1,584 -60 -54 -36 -61.3 0 Oct 10, 2025 J-GAAP
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2024 1,813 138 145 90 154.8 120 Apr 11, 2025 J-GAAP
Sep - Feb, 2025 Guidance 1,935 203 202 115 194.4 120 Oct 10, 2025 J-GAAP
YoY +6.7% +47.1% +39.3% +27.8% +25.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 3,530 144 160 36 61.0 120 Apr 12, 2024 J-GAAP
Feb, 2025 3,450 93 107 57 98.0 120 Apr 11, 2025 J-GAAP
Feb, 2026 Guidance 3,519 143 148 79 133.6 120 Apr 11, 2025 J-GAAP
YoY +2.0% +53.8% +38.3% +38.6% +36.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 924 49 52 32 54.4 5.3 Oct 11, 2024 J-GAAP
Sep - Nov, 2024 769 -46 -43 -33 -56.0 -6.0 Jan 10, 2025 J-GAAP
Dec - Feb, 2024 1,044 184 188 123 211.5 17.6 Apr 11, 2025 J-GAAP
Mar - May, 2025 691 -104 -101 -66 -112.4 -15.1 Jul 11, 2025 J-GAAP
Jun - Aug, 2025 893 44 47 30 51.1 4.9 Oct 10, 2025 J-GAAP
YoY -3.4% -10.2% -9.6% -6.3% -6.1%

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