SUBARU, Net Income Forecast for Last Fiscal Year Revised Downward by 28%

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Mon May 11, 2026 2:00 pm JST Revision

7270 SUBARU CORPORATION 【IFRS】

Guidance Update Report

SUBARU CORPORATION <7270> [TSE Prime] announced a performance revision in the afternoon session on May 11th (14:00). The consolidated net income forecast for the fiscal year ending March 2026 has decreased 28.0%, from the previous forecast of 125 billion yen to 90.0 billion yen (compared to 338 billion yen in the previous period), leading to an increase in the profit decline rate from 63.0% to 73.4%.

Based on the downwardly revised full-year plan announced by the company, our calculation indicates that the October to March period (second half) consolidated net income/loss has been revised downward from an expected profit of 34.5 billion yen to a loss of 0.41 billion yen (compared to a profit of 175 billion yen in the same period of the previous year), turning to a loss outlook.

Kabutan News

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2025 Prev	2,414,338	27,330	50,521	34,585	48.3	58	Feb 6, 2026	IFRS
Oct - Mar, 2025 New	2,394,338	-62,670	-22,479	-415	-0.6	58	May 11, 2026	IFRS
Revision Rate	-0.8%	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	4,800,000	130,000	180,000	125,000	174.7	115	Feb 6, 2026	IFRS
Mar, 2026 New	4,780,000	40,000	107,000	90,000	124.3	115	May 11, 2026	IFRS
Revision Rate	-0.4%	-69.2%	-40.6%	-28.0%	-28.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024	2,419,605	183,311	227,535	175,029	237.1	67	May 14, 2025	IFRS
Oct - Mar, 2025 Guidance	2,394,338	-62,670	-22,479	-415	-0.6	58	May 11, 2026	IFRS
YoY	-1.0%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	4,702,947	468,198	532,574	385,084	509.2	106	May 13, 2024	IFRS
Mar, 2025	4,685,763	405,308	448,507	338,062	458.0	115	May 14, 2025	IFRS
Mar, 2026 Guidance	4,780,000	40,000	107,000	90,000	124.3	115	May 11, 2026	IFRS
YoY	+2.0%	-90.1%	-76.1%	-73.4%	-72.9%