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Consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (IFRS Basis)

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Consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (IFRS Basis) Consolidated Financial Results For the Fiscal Year Ended March 31, 2021 (IFRS basis) May 11, 2021 Company Name : SUBARU CORPORATION (Tokyo Stock Exchange First Section, Code No.7270) URL : https://www.subaru.co.jp/en/ir/ Representative : Tomomi Nakamura, President and CEO Contact for Inquiries : Yasushi Nagae, Vice President and General Manager of Investor Relations Department Phone +81-3-6447-8825 Scheduled date of annual meeting of stockholders: June 23, 2021 Scheduled date for dividend payment : June 24, 2021 Scheduled date of submitting Security Report : June 24, 2021 Annual earnings supplementary explanatory documents : Yes Holding of annual financial results meeting : Yes (for investment analysts and institutional investors) (All amounts have been rounded off to the nearest million yen, unless otherwise specified) 1. Consolidated Results for FYE2021 (April 1, 2020 to March 31, 2021) (1) Consolidated Financial Results of Operations (for twelve-month period) (Unit: Millions of yen, except for per share figures) (%: Changes from the previous fiscal year) Profit for the Total Operating Profit before Profit for the period Revenue comprehensive Profit tax period attributable to income owners of parent FYE 2021 2,830,210 (15.4) % 102,468 (51.3) % 113,954 (45.1) % 77,320 (49.3) % 76,510 (49.9) % 109,096 (22.4) % FYE 2020 3,344,109 6.0 % 210,319 15.7 % 207,656 11.6 % 152,591 8.4 % 152,587 7.9 % 140,556 (10.6) % Profit for the Profit for the Ratio of profit to Ratio of profit Ratio of period per share, period per share, equity attributable to before income tax operating profit basic(yen) diluted(yen) owners of the parent to total assets to revenue FYE 2021 99.77 － 4.4 % 3.4 % 3.6 % FYE 2020 198.99 － 9.0 % 6.4 % 6.3 % Reference: Share of profit (loss) of investments accounted for using equity method FYE2021: (120) million yen, FYE2020: (223) million yen (2) Consolidated Financial Position (Unit: Millions of yen, except for per share figures) Ratio of equity Equity Equity attributable attributable to attributable to Total assets Total equity to owners of parent owners of parent to owners of parent total assets per share (yen) FYE 2021 3,411,712 1,786,383 1,777,735 52.1 % 2,318.17 FYE 2020 3,293,908 1,720,123 1,712,881 52.0 % 2,233.76 (3) Consolidated Cash Flows (Unit: Millions of yen) Operating activities Investment activities Financing activities Cash & cash equivalents FYE 2021 289,376 (272,174) 13,966 907,326 FYE 2020 210,134 (25,844) (15,818) 858,966 2. Dividends (Unit: Millions of yen, except for per share figures) Cash dividends per share (yen) Ratio of dividends to Amount of Payout ratio equity attributable 1st 2nd 3rd Year- dividends Annual (consolidated) to owners of quarter quarter quarter end paid (annual) parent (consolidated) FYE 2020 － 72.00 － 28.00 100.00 76,722 50.3 % 4.5 % FYE 2021 － 28.00 － 28.00 56.00 42,967 56.1 % 2.5 % FYE 2022 － 28.00 － 28.00 56.00 － % (Forecast) 3. Forecast of Consolidated Results for FYE 2022 (April 1, 2021 to March 31,2022) (%: Changes from the previous fiscal year) Profit for the Net income per Revenue Operating profit Profit before tax period attributable share, basic (yen) to owners of parent Full year 3,300,000 16.6 % 200,000 95.2% 230,000 78.1 % 140,000 83.0 % 182.56 4. Others (1) Changes of significant subsidiaries in the fiscal year ended 2021 : No (2) Changes in accounting policy and changes in accounting estimates 1) Changes in accounting policy required by IFRS : No 2) Changes other than the above 1) : No 3) Changes in accounting estimates : No (3) Number of issued shares (common stock) 1) Number of outstanding shares As of March 31,2021: 769,175,873 shares As of March 31,2020: 769,175,873 shares (including treasury stock) 2) Number of treasury stock As of March 31,2021: 2,305,130 shares As of March 31,2020: 2,360,368 shares 3) Average number of shares FYE2021: 766,855,891 shares FYE2020: 766,799,185 shares (for twelve-month period) (Reference) Non-consolidated Financial Results Highlights 1. Non-consolidated Results for FYE2021 (April 1, 2020 to March 31, 2021) (1) Non-consolidated Financial Results of Operations (for twelve-month period) (Unit: Millions of yen, except for per share figures) (%: Changes from the previous fiscal year) Net sales Operating income Ordinary income Net income FYE 2021 1,580,950 (21.4) % (52,381) － % (49,835) － % (38,658) － % FYE 2020 2,011,205 4.2 % 47,924 (40.0) % 41,454 (49.8) % 31,919 (53.1) % Net income per share, Net income per share, basic (yen) diluted (yen) FYE 2021 (50.38) － FYE 2020 41.60 － (2) Non-consolidated Financial Position Shareholders’ equity Net assets per share Total assets Net assets to total assets (%) (yen) FYE 2021 2,230,260 957,236 42.9 % 1,247.59 FYE 2020 2,156,095 1,032,507 47.9 % 1,345.78 Reference: Shareholders’ equity FYE2021: 957,236 million yen, FYE2020: 1,032,507 million yen *The status of the implementation of the annual audit This earnings report is not subject to audit by a certified public accountant or audit firm. *Proper use of projection of operating results, and other information The performance projections were based on the information available as of the date when this document was released. Therefore, actual results may differ considerably due to various factors that might occur in the future. Index of the attachments 1. Overview of Operating Results ....................................................................................................................... 2 (1) Overview of Operating Results for the fiscal year ended March 2021................................................... 2 (2) Overview of Financial Position at the end of March 2021....................................................................... 4 (3) Overview of Cash Flow in the fiscal year ended March 2021.................................................................. 4 (4) Forecast for the fiscal year ending March 2022........................................................................................ 4 2. Basic policy about the adoption of Accounting standards ........................................................................... 5 3. Consolidated Financial Statements ................................................................................................................. 6 (1) Consolidated Statements of Financial Position.......................................................................................... 6 (2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income........... 8 Consolidated Statements of Income (for twelve-month period) ............................................................... 8 Consolidated Statements of Comprehensive Income (for twelve-month period) .................................... 9 (3) Consolidated Statement of Changes in Equity.......................................................................................... 10 (4) Consolidated Statements of Cash Flows .................................................................................................... 12 (5) Notes to Consolidated Financial Statements ............................................................................................. 13 (Notes on Premise of Going Concern) ......................................................................................................... 13 (Segment Information) ................................................................................................................................. 13 (Per Share Information) ............................................................................................................................... 14 (Significant Subsequent Event) .................................................................................................................... 14 4. Non-consolidated Financial Statements ........................................................................................................ 15 (1) Non-consolidated Balance Sheet ................................................................................................................ 15 (2) Non-consolidated Statements of Income (for twelve-month period) ...................................................... 17 (3) Non-consolidated Statements of Changes in Net Assets .......................................................................... 18 ―1― 1. Overview of Operating Results (1) Overview of Operating Results for the Fiscal Year Ended March 2021 During the fiscal year under discussion, the global economy continued to suffer from the world-wide pandemic of COVID-19. While there are some signs of recovery in conjunction with the phased reopening of economic activities, the automobile industry’s future prospect remains uncertain due to such factors as the global shortage of semiconductors continuing since the fourth quarter. Under such circumstances, we have been engaged, as the entire Subaru Group, in the efforts for the prevention of COVID-19 and its spread, as well as in the implementation of the medium-term management vision “STEP.” As part of our priority theme—corporate culture reform—we are committed to changing each and every employee’s mindset through the workstyle reform and other changes in our business environment caused by the pandemic, under the action guideline of “Change mindset, change behavior, change the company.” Moreover, in the field of quality enhancement, with our base “Thorough implementation of Quality-First mindset and reinforcement of the organizational efforts and structure.”, we are undertaking various
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