Author: Subaru Official News

WORLD PREMIER OF SUBARU VIZIV ADRENALINE CONCEPT

March 5, 2019

WORLD PREMIER OF SUBARU VIZIV ADRENALINE CONCEPT

— First Concept Model Designed Under “BOLDER” Design Concept,
The Evolved Form of “Dynamic x Solid” Design Identity—

Tokyo, March 5, 2019 – Subaru Corporation today unveiled the Subaru VIZIV Adrenaline Concept*1 at the 89th Geneva International Motor Show.

SUBARU VIZIV ADRENALINE CONCEPT

Subaru in 2014 created its common design philosophy “Dynamic x Solid,” which expressed the brand’s core value “Enjoyment and Peace of Mind.” In the new mid-term management vision “STEP,” which Subaru announced in July 2018, it indicated that the brand is evolving the “Dynamic x Solid” design identity to reflect bolder expression under the new design concept “BOLDER.” Through the new “BOLDER” design philosophy, Subaru aims to broaden the brand’s outlook, define the characteristics of Subaru vehicles more prominently, and create more enjoyment for all passengers.

The “Subaru VIZIV Adrenaline Concept” is the first concept vehicle designed under the new “BOLDER” design philosophy. The body shape of the VIZIV ADRENALINE exhibits dynamic and strong feel. It features a unique roof design, which reinforces the body structure, as well as body protectors. The white accents going through the wheels to rugged all-terrain tires emphasize the feel like outdoor gears. These elements express the toughness and agility of the VIZIV ADRENALINE CONCEPT.

Combining utility that supports active lifestyles with off-road driving capability that delivers enjoyment to go anywhere, the VIZIV Adrenaline Concept stimulates the driver’s mind, encouraging them to “drive freely in mother nature.”

Subaru will continue to evolve its distinctiveness of developing and designing vehicles that deliver the brand’s core value “Enjoyment and Peace of Mind.”

*1: The name VIZIV has been coined from the phrase “Vision for Innovation”

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SUBARU delivered the prototype of New Utility Helicopterfor Japan Ministry of Defense

February 28, 2019

SUBARU delivered the prototype of New Utility Helicopter
for Japan Ministry of Defense

Tokyo, February 28, 2019 – SUBARU delivered the prototype of New Utility Helicopter for Japan Ministry of Defense (JMOD) at its Aerospace Company Utsunomiya Plant, Tochigi Prefecture, Japan today.

SUBARU contracted with JMOD for the developing of the prototype of New Utility Helicopter in September 2015, SUBARU jointly developed the SUBARU BELL 412EPX which is the latest civilian helicopter with BELL HELICOPTER, a Textron Inc. Company, USA. With this aircraft as a platform, then developed and completed the New Utility Helicopter for Japan Ministry of Defense.
The flight test of the New Utility Helicopter was started from December 2018, it passed a series of flight tests successfully, and finally it got JMOD’s approval for delivery.

Here after, the prototype of New Utility Helicopter will be tested by JMOD as well. SUBARU will prepare for the start of mass production of the New Utility Helicopter in the future.

SUBARU BELL 412 EPX obtained approval of the design change of Japanese Type Certificate from Japan Civil Aviation Bureau (JCAB) on January 18, 2019. SUBARU will expand defense business as well as the production and sales of “SUBARU BELL 412EPX” which is for commercial market.

Related news release:
September 2, 2015 – FHI Wins Contract to Develop Next-Generation Utility Helicopter for Japan Ground Self-Defense Force
https://www.subaru.co.jp/press/news-en/2015_09_02_988/

July 17, 2018 – SUBARU AND BELL ANNOUNCE COLLABORATION ON COMMERCIAL 412 HELICOPTER UPGRADE
https://www.subaru.co.jp/press/news-en/2018_07_17_6068/

December 25, 2018 – SUBARU started flight test of the prototype of New Utility Helicopter for JMOD
https://www.subaru.co.jp/press/news-en/2018_12_25_6681/

New Utility Helicopter for JMOD
SUBARU BELL 412EPX(Rendering)

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Subaru Corporation Announces Changes in Directors and Auditors(Effective June 2019)

March 1, 2019

Subaru Corporation Announces Changes in Directors and Auditors
(Effective June 2019)

Tokyo, March 1, 2019 – The Board of Directors of Subaru Corporation today resolved the following changes in the members of the Board of Directors and the Board of Corporate Auditors, with the aim of reinforcing the company’s corporate governance. Appointments of the Directors and Auditors will be proposed at the Company’s 88th General Meeting of Shareholders scheduled for June 2019.

1. Nominees for Directors
All of the current Directors will retire on the expiration of their term of office.
Nominees for new Directors are as follows:

Director of the Board
Chairman
Yasuyuki Yoshinaga
(Current title: Director of the Board, Chairman )

Representative Director of the Board
President
Tomomi Nakamura
(Current title: Representative Director of the Board, President)

◎
Representative Director of the Board
Deputy President
Kazuo Hosoya
(Current title: Deputy President)

Director of the Board
Executive Vice President
Toshiaki Okada
(Current title: Director of the Board, Executive Vice President)

Director of the Board
Executive Vice President
Yoichi Kato
(Current title: Director of the Board, Executive Vice President)

Director of the Board
Executive Vice President
Tetsuo Onuki
(Current title: Director of the Board, Executive Vice President)

Outside Director
Shigehiro Aoyama
(Current title: Outside Director)

◎
Outside Director
Yasuyuki Abe
(Current title: Outside Corporate Auditor)

◎
Outside Director
Natsunosuke Yago
(Current title: Chairman of the Board, Ebara Corporation)

◎: Newly appointed

2. Nominees for Corporate Auditors
Akira Mabuchi and Shinichi Mita will retire as Corporate Auditors on the expiration of their term of office.
Yasuyuki Abe will resign.
Nominees for new Corporate Auditors are as follows:

Standing Corporate Auditor
Akira Mabuchi
(Current title: Standing Corporate Auditor )

◎
Outside Corporate Auditor
Shigeru Nosaka
(Current title: Vice Chairman of the Board of Directors, Oracle Corporation Japan)

◎
Outside Corporate Auditor
Kyoko Okada
(Current title: Audit & Supervisory Board Member (standing), Shiseido Co., Ltd.)

◎: Newly appointed

As current Corporate Auditor Shuzo Haimoto will continue to be in his term of office, the total number of Corporate Auditors will be four.

3. Retiring Director

Yoshinori Komamura (Current title: Outside Director)

4. New Board of Directors
(Subject to election of Directors at the Company’s 88th General Meeting of Shareholders scheduled for June 2019)

Name

Areas of responsibility
as Executive Officer
(Effective April 1, 2019)

Yasuyuki Yoshinaga
Director
Chairman
Chairman of the Board of Directors
—

—

Tomomi Nakamura
Representative Director
President
Member of the Executive Nomination Meeting and the Executive Compensation Meeting
– Chief Executive Officer (CEO)
– Aerospace Company
– Quality

—

Kazuo Hosoya
Representative Director
Deputy President
Member of the Executive Nomination Meeting and the Executive Compensation Meeting
– Manufacturing
– China Project Office

Chief General Manager of Manufacturing Div. and Gunma Plant

Toshiaki Okada
Director
Executive Vice President
Member of the Executive Nomination Meeting and the Executive Compensation Meeting
– Chief Financial Officer (CFO)
– Secretarial Office
– Finance & Accounting Dept.
– Human Resources Dept.

—

Yoichi Kato
Director
Executive Vice President
—
– Chief Risk Management Officer (CRMO)
– Risk Management Group
– External Relations Dept.
– Intellectual Property Dept.

—

Tetsuo Onuki
Director
Executive Vice President
—
– Chief Technology Officer (CTO)

—

Shigehiro Aoyama
Outside Director
Member of the Executive Nomination Meeting and the Executive Compensation Meeting
—

—

Yasuyuki Abe
Outside Director
Member of the Executive Nomination Meeting and the Executive Compensation Meeting
—

—

Natsunosuke Yago
Outside Director
Member of the Executive Nomination Meeting and the Executive Compensation Meeting
—

—

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Subaru Corporation Announces Management Changes(Effective March 31, 2019 and April 1, 2019)

March 1, 2019

Subaru Corporation Announces Management Changes
(Effective March 31, 2019 and April 1, 2019)

Tokyo, March 1, 2019 – Subaru Corporation announces the following management changes which will take effect on March 31, 2019 and April 1, 2019.

１．Promoted Officers (Effective April 1, 2019)

– Atsushi Osaki: Executive Vice President
(Current title: Senior Vice President, Chief Quality Officer (CQO), Chief General Manager of Quality Assurance Div. and Customer Service Div.)

– Eiji Ogino: Senior Vice President
(Current title: Vice President, President of Subaru Indiana Automotive, Inc.)

– Hiromi Tamou: Senior Vice President
(Current title: Vice President, Senior General Manager of Engineering Management Div., Chief General Manager of Technical Research Center)

２．Newly-appointed Officers (Effective April 1, 2019)

– Tetsuo Fujinuki: Vice President
(Current title: Senior General Manager of Engineering Div. 1)

– Hiroshi Wakai: Vice President
(Current title: Company Vice President of Aerospace Company, Senior General Manager of Engineering & Development Center)

– Kazuhiro Abe: Vice President
(Current title: Senior General Manager of Product Planning Div., Senior Project General Manager)

３．Retiring Officers (Effective March 31, 2019)

– Masaki Okawara
(Current title: Executive Vice President, Chief Information Officer (CIO), Chief General Manager of IT Strategy Div.)
Appointed as President of Subaru Logistics Co., Ltd. effective April 1, 2019.

– Toshiaki Tamegai
(Current title: Senior Vice President, Manufacturing Div.)
Appointed as President of Kiryu Industry Co., Ltd. effective April 1, 2019.

– Hiroki Kurihara
(Current title: Vice President, President of Tokyo Subaru Inc.)
To continue to hold the position as President of Tokyo Subaru Inc.* which he assumed effective January 1, 2019.
(* Announced on December 11, 2018)

– Yasuhiro Hamanaka
(Current title: Vice President, Company Vice President of Aerospace Company, General Manager of Kisarazu Maintenance Dept.)
Appointed as President of FAS Co., Ltd. effective April 1, 2019.

４．Changes to areas of responsibility of Executive Officers (Effective April 1, 2019)

Name
Effective April 1, 2019
Current

Yasuyuki Yoshinaga
Director
Chairman
—
– “Tadashii-Kaisha” Promotion Dept.
– Compliance Office

—
—

Toshiaki Okada
Director
Executive Vice President
– Chief Financial Officer (CFO)
– Secretarial Office
– Finance & Accounting Dept.
– Human Resources Dept.
– Chief Financial Officer (CFO)
– Corporate Planning Dept.
– Secretarial Office
– Finance & Accounting Dept.
– Human Resources Dept.
– “Tadashii-Kaisha” Promotion Dept.
– Compliance Office
– Subaru Next Story Promotion Office

—
—

Yoichi Kato
Director
Executive Vice President
– Chief Risk Management Officer (CRMO)
– Risk Management Group
– External Relations Dept.
– Intellectual Property Dept.
– External Relations Dept.
– General Administration Dept.
– CSR & Environment Dept.
– Group Company Management Dept.
– Legal Dept.
– Internal Audit Dept.

—
—

Tetsuo Onuki
Director
Executive Vice President
– Chief Technology Officer (CTO)
– Chief Technology Officer (CTO)
– Engineering Management Div.
– Engineering Div. 1
– Engineering Div. 2
– Intellectual Property Dept.

—
Chief General Manager of Engineering Management Div.

Atsushi Osaki
Executive Vice President
– Chief Quality Officer (CQO)
– Quality Assurance Div.
– Chief Quality Officer (CQO)
– Quality Assurance Div.
– Customer Service Div.

Chief General Manager of Quality Assurance Div.
Chief General Manager of Quality Assurance Div. and Customer Service Div.

Takuji Dai
Senior Vice President
– Chief Information Officer (CIO)
– IT Strategy Div.
– Corporate Planning Div.
– Product Planning Div.

Chief General Manager of IT Strategy Div., Senior General Manager of Corporate Planning Div.
Chief General Manager of Product Planning Div.

Fumiaki Hayata
Senior Vice President
– Corporate Planning Div.
– Corporate Planning Dept.

Chief General Manager of Corporate Planning Div.
General Manager of Corporate Planning Dept.

Hiromi Tamou
Senior Vice President
– Engineering Management Div.
– Technical Research Center
– Engineering Management Div.
– Technical Research Center

Chief General Manager of Engineering Management Div. and Technical Research Center
Senior General Manager of Engineering Management Div. and Chief General Manager of Technical Research Center

Katsuo Saito
Vice President
– General Administration Dept.
– Investor Relations Dept.
– Business Planning Dept.
– General Administration Dept.
– CSR & Environment Dept.
– Group Company Management Dept.

General Manager of General Administration Dept. and Investor Relations Dept.
General Manager of Business Planning Dept., General Administration Dept. and Group Company Management Dept.

Yasushi Nagae
Vice President
– Customer Service Div.
– Quality Assurance Div.
– Customer Service Div.

Chief General Manager of Customer Service Div.
Senior General Manager of Quality Assurance Div. and Customer Service Div.

Tomoaki Emori
Vice President
– Corporate Planning Div.
– Global Marketing Div.

Senior General Manager of Corporate Planning Div.
Chief General Manager of Global Marketing Div.

Tetsuo Fujinuki
Vice President
(Newly appointed)
– Engineering Div. 1
Senior General Manager of Engineering Div. 1

Senior General Manager of Engineering Div. 1

Hiroshi Wakai
Vice President
(Newly appointed)
– Aerospace Company
Company Vice President of Aerospace Company, Senior General Manager of Engineering & Development Center

Company Vice President of Aerospace Company, Senior General Manager of Engineering & Development Center

Kazuhiro Abe
Vice President
(Newly appointed)
– Product Planning Div.
Senior General Manager of Product Planning Div., Senior Project General Manager

Chief General Manager of Product Planning Div.

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Subaru Corporation Announces Organizational Changes(Effective April 1, 2019)

March 1, 2019

Subaru Corporation Announces Organizational Changes
(Effective April 1, 2019)

Tokyo, March 1, 2019 – Subaru Corporation announces the following organizational changes which will take effect on April 1, 2019.

1.　Reinforcement of Internal Controls and Governance

To enhance the effectiveness of internal controls and risk management by consolidating and abolishing organizations and clarifying reporting lines.

The Compliance Office will be reorganized to form the Risk Management & Compliance Office.
In addition to the function of strengthening the company’s efforts to comply with laws and regulations, this office will take on the roles of planning and implementing group-wide internal controls and risk management.

The CSR & Environment Department will be reorganized to form the Sustainability Promotion Department.
In addition to the function of promoting CSR and environmental efforts, this department will take on the roles of planning and implementing group-wide activities from an ESG perspective.

Together with the General Administration Department, the Group Company Management Department, the Legal Department, and the Internal Audit Department, these two new units will form a Risk Management Group overseen by the Chief Risk Management Officer (CRMO)*. (*Newly established position)

2.　Acceleration of Management Strategy Planning and Implementation

To facilitate responses to future changes in the market environment and enable management strategy to more promptly reflect product and market initiatives, including those to address environmental challenges.

The Corporate Planning Division will be established, and the Corporate Planning Department, Market Strategy Department (newly established), and Logistics Management Department (newly established) will belong to this Division.

The Global Marketing Division will be dissolved, and its tasks and functions relating to the product portfolio, market research and analysis, and the Subaru brand will be transferred to this department.
The new department will plan and implement brand, product, and market strategies under the Corporate Planning Division.

The Business Planning Department will be dissolved, and its logistics-related tasks will be transferred to this department.
The new department will plan, implement, and coordinate group-wide logistics strategy under the Corporate Planning Division.

3.　Enhancement of Corporate Disclosure Function

To facilitate constructive engagement with shareholders and investors, with the goal of achieving sustainable growth of the company and increasing corporate value over the medium- to long-term.

Investor relations functions in the Corporate Communications Department and shareholder relations functions in the General Administration Department will be consolidated under the newly established Investor Relations Department.

4.　Other

The “Tadashii-Kaisha” Promotion Department will be terminated, and its function will be incorporated in the Corporate Planning Department.

The Subaru Next Story Promotion Office will be terminated, and its function will be incorporated in the Japan Sales & Marketing Division.

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WORLD PREMIER OF ALL-NEW 2020 SUBARU LEGACY SEDAN

February 8, 2019

WORLD PREMIER OF ALL-NEW 2020 SUBARU LEGACY SEDAN

— 2.4-liter Turbo Boxer Engine and Subaru Global Platform bring
enhanced dynamic performance to Subaru’s flagship sedan —

●
Marking 30th anniversary of its debut, Subaru’s flagship sedan has been significantly upgraded

●
Superior driving dynamics with Subaru Global Platform and an available 2.4-liter direct injection turbo boxer engine

●
Refined and innovative interior featuring new tablet-style 11.6-inch screen

●
Superior safety based on Subaru’s comprehensive safety philosophy

●
Sleek, yet bold exterior design expressing solid toughness and dynamic in-motion feel

Tokyo, February 8, 2019 – Subaru Corporation unveiled the all-new 2020 Legacy sedan (US Spec) at the 2019 Chicago Auto Show on February 7 (local time in Chicago).

Subaru Legacy, which has been Subaru’s flagship sedan since its debut in 1989, turns into the seventh generation with this all-new model. In its 30 years of history, Legacy has been enriching the lives of its owners as a vehicle that accompanies them in their day-to-day lives, by offering　a broader range of lifestyles and enjoyment. Legacy has gained customers’ trust by delivering this value through the generations. This seventh generation also carries the same value and has enhanced it under the product concept of “a sedan offering a go-anywhere, do-anything driving experience with a peace of mind”.

The all-new Legacy is powered by either a 2.4-liter turbocharged BOXER engine delivering strong torque output from low RPM or a 2.5-liter normally-aspirated BOXER engine with improved efficiency thanks to direct injection system. Combined with the new engine is Subaru Global Platform which optimizes the body rigidity, and Legacy’s dynamic performance has been significantly enhanced as a result. In addition, Subaru’s exclusive EyeSight driver assist system comes standard in all trims and now equipped for the first time in the U.S. with the Advanced Adaptive Cruise Control including new Lane Centering function. Driver monitoring system*1 also supports the safe driving and brings peace of mind to passengers.

The exterior design incorporates sleek silhouette that appears to be in motion even when stopped, larger thickness in profile panel surfaces and a thicker appearance. As a result, the Legacy embodies solid toughness and a dynamic active image at the same time. For the interior, an updated infotainment system featuring 11.6-inch tablet style large screen has been applied and adds innovative new functions to the high quality interior which Legacy has carried for generations.
With a lot of additional enhancements, the all-new Legacy will deliver safer and more enjoyable life with “a sedan offering a go-anywhere, do-anything driving experience with a peace of mind” which meets the demands for the coming era
The 2020 Legacy will go on sale at U.S. Subaru retailers this fall.

Main features of the new Legacy (US Spec)

■ Enjoyment and peace of mind in any driving scene supported by superior dynamic quality

Improved control, stability, ride comfort, and quietness of new Legacy enable a worry-free driving in a variety of scenes, from cities to long drives, in any weather conditions

Chassis and body that support superior dynamic quality

・Application of Subaru Global Platform, which makes the vehicle body significantly rigid compared to previous model, ensures accurate steering response, greater ride comfort and quieter cabin space

・Significant enhancement in dynamic quality thanks to stiffer and lighter body structure with Subaru first full inner frame construction in which the outer panels are welded to the structure after the entire body framework is assembled

・Newly designed dampers and reduced unsprung weight due to the application of lightweight parts including aluminum lower L-arm contribute to much improved handling and ride comfort

Subaru unique mechanisms and technologies for distinctive driving experience

・Standard Symmetrical All-Wheel Drive offers stable drive in any road conditions

・Available 2.4-liter turbocharged BOXER engine generates strong torque from low rpm and delivers smooth acceleration

・Updated Lineartronic*2 with wider gear range and re-worked hydraulic system transfers engine power more efficiently and achieves better fuel economy and superior driving experience

■ High-quality and innovative interior space

Quality interior design, relaxing cabin space with improved packaging, and advanced feature with innovative functions provide comfort and enjoyment for all passengers

Innovative features for convenience and comfort

・Updated Starlink infotainment system with available 11.6-inch tablet-style touch screen equipped with a newly designed Human Machine Interface enables smartphone-like operation of various functions consolidated on one large screen

・In addition to Apple CarPlay*3, AndroidAutoTM*4, the SUBARU STARLINK now supports SmartDeviceLinkTM*5 which enables the use of various apps regardless of smartphone operating system

・Telematics system with additional functions including Wi-Fi hotspot and remote engine starter for more convenience

・Available Driver Monitoring System, which can alert the driver to signs of drowsiness or distraction on the road as well as automatically adjusting driver settings for seat position, door mirror angles and air-conditioning preferences with utilization of face recognition technology

High quality, comfortable interior design

・Subaru first tan-colored Nappa leather seats for a newly added top-of-the-line trim ‘Touring’

・Enlarged windshield and long line motif extended from the center of the instrument panel to the door panels express a relaxed and open atmosphere of the cabin space

・A color of the seat material is applied on a part of instrument panel consisted of 3 different surfaces to create a sense of openness

・Thick center console and arm rests surrounding passengers provide sense of protection

・Carefully selected materials for high quality feel throughout the entire cabin

Well-considered packaging and convenient features for a comfortable feeling

・Windshield has been moved forward and the front door windows moved outward for a class-leading driver visibility

・Extended overall vehicle length allocated for both rear passenger space and trunk space to improve passenger comfort and versatility at the same time

・New PTC heating system for quicker heating in winter (For 2.4L Turbocharged Boxer engine equipped model)

・Front seat ventilation standard for Touring trim

・Adjustable seat cushion length (driver only) for Limited and Touring trim level

■Functionality that supports various lifestyles

New Legacy is equipped with the functions that support wide range of active lifestyles, beyond traditional sedans

High functionality covers wider range of activities

・Standard roof carrier brackets for easy installation of roof carrier

・Large trunk space which can swallow four full-size roller bags

■ Overall safety top in its class

The new model offers safe and enjoyable driving for all passengers at all times and in all settings—not just in emergencies—based on Subaru’s philosophy of overall safety.

Outstanding visibility recognizable at a glance as soon as driver get into the car—Primary Safety

・The excellent high eye-level view and careful optimization of the shape of the pillars have reduced blind spots and provides outstanding visibility

・Well-considered interface layout to reduce unnecessary eye-movement while driving

・Optimization of the seat shape and cushion materials helps to reduce driver fatigue

Driving performance driver can depend on in the unlikely event of an Incident—Active Safety

・Active Torque Vectoring ensures that the driver is in control of the vehicle, exactly as the driver intended

Comprehensive advanced safety systems—Preventive Safety

・Subaru’s exclusive EyeSight driver assist system comes standard in all trims and now equipped for the first time in the U.S. with the new Advanced Adaptive Cruise Control including new Lane Centering function

・EyeSight assist monitor notifies the system activation status with LED lighting projected on the windshield

・Driver Monitoring System supports safe driving by providing a warning when it detects signs of distraction or drowsiness

・Standard LED headlights for better nighttime visibility

・Reverse Automatic Braking helps to avoid collisions when reversing and mitigates the damage in case of collision

・Subaru Rear Vehicle Detection system senses vehicles approaching from the rear and gives audio and visual alert

・Front view monitor captures images within the driver’s blind spots in front of the vehicle and displays a 180-degree view on the 11.6-inch display

Class-leading passenger protection—Collision Safety

・Optimized body structure with the adoption of Subaru Global Platform ensures class-leading passenger protection

・An increase in the amount of high-tensile steel panel materials ensures improved protection in frontal, side and rear end collision

■ Exterior design with strong presence

Following Subaru’s common “Dynamic x Solid” design philosophy, the exterior design of Legacy features sleek silhouette that appears to be in motion and solid toughness as a sedan with strong presence

Bold, yet sporty front face

・Frameless hexagonal grille adds sportiness to the Legacy

・Combination of wide lower grille intake and fog light bezels with C-shape motif emphasizes Legacy’s stability and low-center-of-gravity

Side silhouette that emphasizes a sense of stability and speed

・Not just expressing a sense of speed with a combination of the smooth side silhouette and dynamic window graphic, the side view of Legacy also emphasizes strength with bold door panel surfaces, bulging fenders and wheel-arch accents

・Re-designed side mirror with a motif streamlined through window frame

Wide stance rear design with sense of stability

・Wide motif shared with the front end emphasi..

Notice Regarding Year-on-Year Changesin Consolidated Financial Results for the Third Quarter of FYE 2019

February 7, 2019

Notice Regarding Year-on-Year Changes
in Consolidated Financial Results for the Third Quarter of FYE 2019

Company name:SUBARU CORPORATION
Representative:Tomomi Nakamura, President and CEO
Code number:7270 (First Section of Tokyo Stock Exchange)
Contact for inquiries: Katsuo Saito, Vice President
and General Manager of Administration Department
Phone: +81-3-6447-8825

Subaru Corporation hereby notifies year-on-year changes between the consolidated financial results for the third quarter of FYE2019 (April 1 – December 31, 2018) announced today and the corresponding third quarter of the previous year. Details are set out below.

1. Year-on-Year Changes in Consolidated Financial Results for the Third Quarter of FYE 2019

Net sales
Operating
income
Ordinary
income
Net income
attributable to owners
of parent
Net income
per share

Third quarter of FYE 2018 (A)
Millions of yen
2,437,749
Millions of yen
306,305
Millions of yen
303,116
Millions of yen
152,843
Yen
199.35

Third quarter of FYE 2019 (B)
2,377,413
153,669
157,042
118,220
154.18

Increase or decrease (B－A)
(60,336)
(152,636)
(146,074)
(34,623)

Percentage change (%)
(2.5)
(49.8)
(48.2)
(22.7)

Note: The Company has changed its accounting policies with effect from the first quarter of FYE 2019. Accordingly, the new policies have been retroactively applied to FYE 2018 results before carrying out year-on-year comparison and analysis of net sales figures.

2. Reasons for the Changes

In the automotive business, Unit sales in Japan decreased by 20,000 units (17.1%) year-on-year to 98,000 units, as sales of Impreza, Subaru XV and Levorg declined, offsetting strong demand for the fully-redesigned Forester launched in July 2018.In overseas markets, Subaru kept strong momentum on retail sales with growth in its largest North American market driven by the newly-introduced Ascent and the Crosstrek (“Subaru XV” outside North America). On the other hand, consolidated overseas unit sales fell by 19,000 units (2.8%) to 664,000 units, as deliveries of the Forester decreased before the launch of its fully-redesigned version and deliveries were adjusted to optimize local inventory levels mainly in the U.S. market.

Aerospace Company sales rose year-on-year, driven by increased production of components for the C-2 cargo transport aircraft for the Japanese Ministry of Defense and an increase in other defense R&D contracts. Sales in the passenger aircraft sector were lower than the same period of the previous year, largely due to a decrease in Boeing 777 production.

As a result, consolidated net sales for the third quarter of FYE 2019 declined by ¥60.3 billion (2.5%) year-on-year to ¥2,377.4 billion.

Operating income declined by ¥152.6 billion (49.8%) year-on-year to ¥153.7 billion for factors such as an increase in quality-related expenses due to recall campaigns notified in November 2018 and a decrease in consolidated unit sales. Ordinary income decreased by ¥146.1 billion (48.2%) year-on-year to ¥157.0 billion. Net income attributable to owners of parent fell by ¥34.6 billion (22.7%) to ¥118.2 billion.

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Subaru Corporation Announces Consolidated Financial Results for the Nine Months of FYE2019

February 7, 2019

Subaru Corporation Announces Consolidated Financial Results for the Nine Months of FYE2019

Tokyo, February 7, 2019 – Subaru Corporation today announced its consolidated financial results for the first nine months of fiscal year ending March 31, 2019.

Consolidated global unit sales of Subaru vehicles decreased 5.0% to 762,000 units.
Unit sales in Japan decreased 17.1% to 98,000 units, as sales of Impreza, Subaru XV and Levorg declined, offsetting strong demand for the fully-redesigned Forester launched in July 2018.
In overseas markets, Subaru kept strong momentum on retail sales with growth in its largest North American market driven by the newly-introduced Ascent and the Crosstrek (“Subaru XV” outside North America). On the other hand, consolidated overseas unit sales fell 2.8% to 664,000 units, as deliveries of the Forester decreased before the launch of its fully-redesigned version and deliveries were adjusted to optimize local inventory levels mainly in the U.S. market.
Consolidated net sales declined 2.5% to 2,377.4 billion yen.*1

Operating income declined 49.8% to 153.7 billion yen for factors such as an increase in quality-related expenses due to recall campaigns notified in November 2018 and a decrease in consolidated unit sales. Ordinary income decreased 48.2% to 157.0 billion yen. Net income attributable to owners of parent fell 22.7% to 118.2 billion yen.

Full-year forecasts for FYE2019 are revised from the previous announcement made on November 5, 2018, reflecting factors such as higher raw material costs and decreases in production output and unit sales volume as a result of production halt at the Gunma manufacturing plant due to a defect in the Electronic Power Steering control unit.
Revised forecasts: Consolidated unit sales of 996,000 vehicles, net sales of 3,120 billion yen, operating income of 185 billion yen, ordinary income of 193 billion yen, net income attributable to owners of parent of 140 billion yen.
Currency rate assumptions: 110 yen/US$, 129 yen/euro

Previous Forecasts for FYE2019 (Announced on November 5, 2018)
Consolidated unit sales: 1,041,000 vehicles
Net sales: 3,210 billion yen
Operating income: 220 billion yen
Ordinary income: 229 billion yen
Net income attributable to owners of parent: 167 billion yen
Currency rate assumptions: 110 yen/US$, 130 yen/euro

*1: With effect from this fiscal year (FYE2019), the Company has changed its accounting policies. In the new method, sales incentives are deducted from net sales, whereas they were previously recognized as SG&A expenses.
For comparison purposes, net sales and SG&A expenses of the previous fiscal year (FYE2018) have been recalculated according to the new policies. The recalculated figures of net sales and SG&A expenses for the first nine months of FYE2018 are 2,437.7 billion yen and 305.5 billion yen, respectively, a decrease of 126.9 billion yen each from the originally-reported figures (announced on February 8, 2018). There is no impact of the recalculation on profit figures of the previous fiscal year.

Forward-looking statements in this document including financial and other forecasts are based on the information available at the time of announcement and are subject to various risks and uncertainties that could cause actual results to vary materially.

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[PDF/180 KB]

Subaru Corporation Announces Production, Japan Sales and Export Resultsfor December 2018 and CY2018 (Flash Report)

January 30, 2019

Subaru Corporation Announces Production, Japan Sales and Export Results
for December 2018 and CY2018 (Flash Report)

December 2018

Units
2018 vs 2017

Domestic production *1

51,759

-15.9%
5th consecutive month of y/y decrease

Overseas Production *2

26,172

+27.2%
6th consecutive month of y/y increase

Global Production Total

77,931

-5.1%
First y/y decrease in 3 months

Passenger Vehicles
7,421
-22.5%
14th consecutive month of y/y decrease

Mini Vehicles
1,752
-24.5%
First y/y decrease in 3 months

Japan Sales Total
9,173
-22.9%
14th consecutive month of y/y decrease

Export Total *3

42,907

-8.4%
2nd consecutive month of y/y decrease

－
Domestic production decreased year-on-year due to changes in plant operation schedules.

－
Overseas production significantly increased year-on-year, boosted by production of Ascent which started in May 2018.

－
Passenger vehicle sales decreased year-on-year, as previous year’s momentum boosted by the new Impreza and the new Levorg declined, offsetting strong sales of the fully-redesigned Forester launched in July 2018.

－
Mini vehicle sales decreased year-on-year due to decreased sales of Sambar and other models.

－
Exports from Japan decreased year-on-year, as domestic production declined due to changes in plant operation schedules.

CY2018

Units
2018 vs 2017

Domestic production *1

659,965

-7.0%
2nd consecutive year of decrease

Overseas Production *2

359,399

-1.1%
First decrease in 5 years

Global Production Total

1,019,364

-5.0%
First decrease in 7 years

Passenger Vehicles
119,330
-17.2%
First decrease in 2 years

Mini Vehicles
29,123
-10.6%
12th consecutive year of decrease

Japan Sales Total
148,453
-16.0%
First decrease in 2 years

Export Total *3

533,001

-2.9%
2nd consecutive year of decrease

－
Domestic production decreased due to a decline in production of the Forester before the launch of its fully-redesigned version in overseas markets, offsetting increased production of Impreza and Subaru XV models.

－
While overseas production had the addition of the launch of the Ascent, the total volume decreased slightly because of decreased production of the Impreza as the momentum of its fully-redesigned version declined.

－
Passenger vehicle sales decreased, as previous year’s momentum boosted by the new Impreza and the new Levorg declined, offsetting strong sales of the fully-redesigned Forester launched in July 2018.

－
Mini vehicle sales decreased as sales of Chiffon and other models declined.

－
Exports from Japan decreased due mainly to decreased shipments of the Forester, offsetting an increase in shipments of Impreza and Subaru XV models.

*1 JAMA (Japan Automobile Manufacturers Association Inc.) report basis (CBU)
*2 Local line-off basis
*3 JAMA report basis

[PDF/183 KB]

Restart of production at Gunma Manufacturing Division

January 28, 2019

Restart of production at Gunma Manufacturing Division

Today, Subaru Corporation has restarted production at its Gunma manufacturing plant that had been suspended since the evening of January 16, 2019.*

Subaru restarted operations at the Gunma plant as countermeasure parts for electric power steering units for Forester, Impreza, and Subaru XV models have now become available.
Production of other models has also been resumed.

Impact on Subaru’s consolidated financial performance is currently under study. Subaru will make further announcement if deemed necessary.

* News release dated January 23, 2019 regarding the production halt:
https://www.subaru.co.jp/press/news-en/2019_01_23_6786/

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[PDF/77 KB]