Subaru Official News – Page 36 – I wish I had more to offer

Subaru Corporation Announces Organizational Changes(Effective December 1, 2018)

December 3, 2018

Subaru Corporation Announces Organizational Changes
(Effective December 1, 2018)

Tokyo, December 3, 2018 – Subaru Corporation announces the following organizational changes which took effect on December 1, 2018.

The Vehicle Inspection Department has been newly established under the Quality Assurance Division of Subaru Automotive Business. This department conducts vehicle inspection work* which was previously conducted by the Manufacturing Quality Control Department of the Gunma Manufacturing Division.
The purpose of this change is to ensure quality of manufactured vehicles pursuant to the company’s quality-first principle, by making the operation of vehicle inspections independent from the manufacturing organization and belong to the quality assurance organization.

* Includes final vehicle inspections prescribed by Japanese laws and regulations.

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

November 29, 2018

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

October 2018
Jan-Oct 2018

Units
2018 vs 2017
Units
’18 vs ’17

Domestic production *1

64,234

-0.1%
3rd consecutive month of y/y decrease

552,082

-6.1%

Overseas production *2

☆☆
39,630

+20.7%
4th consecutive month of y/y increase

300,408

-4.6%

Global production total

☆
103,864

+6.9%
First y/y increase in 3 months

852,490

-5.6%

Passenger vehicles
10,516
-6.0%
12th consecutive month of y/y decrease
101,932
-18.0%

Mini vehicles
2,325
+17.2%
First y/y increase in 16 months
25,196
-11.3%

Japan sales total
12,841
-2.5%
12th consecutive month of y/y decrease
127,128
-16.7%

Export total *3

50,745

+3.3%
First y/y increase in 2 months

441,986

-1.7%

☆: October record
☆☆: Single-month record

－
Domestic production slightly decreased year-on-year, as production of Impreza, Subaru XV, and Levorg models declined, offsetting increased production of the Forester led by the launch of its fully-redesigned version.

－
Overseas production increased year-on-year boosted by production of the Ascent that started in May 2018.

－
Passenger vehicle sales decreased year-on-year, as last year’s momentum boosted by the fully-redesigned Impreza and SUBARU XV and the upgraded Levorg and WRX declined, offsetting strong sales of the all-new Forester.

－
Mini vehicle sales increased year-on-year, led by increased sales of the Sambar and the Chiffon.

－
Exports from Japan increased year-on-year, boosted by increased shipments of the all-new Forester to North America.

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

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Subaru to Install Japan’s Largest-Scale Captive-Consumption Solar Power Systemat its Engine and Transmission Plant in Gunma, Japan

November 27, 2018

Subaru to Install Japan’s Largest-Scale Captive-Consumption Solar Power System
at its Engine and Transmission Plant in Gunma, Japan

– Part of Subaru Group’s environmental efforts to significantly reduce CO2 emissions by FY2030 –

Tokyo, November 27, 2018 – Subaru Corporation has announced its plan to install Japan’s largest-scale*1 captive-consumption solar power system at the company’s Gunma Oizumi Plant, where Subaru automobiles’ horizontally-opposed Boxer engines and transmissions are built. The company has signed a basic agreement with Japan Facility Solutions, Inc., which will install and manage the system.

The facility is scheduled to be completed and start operation by March 2020. The system will have an output of 5 MW for electricity use within the plant (for an annual output of 5,000 MWh/year). The new facility is expected to bring a reduction of approximately 2,370 tons of CO2 per year*2, equivalent to around 2 percent of total annual carbon dioxide emissions at the Oizumi plant.

The Subaru Environmental Policies*3, which were revised in 2017, outline the company’s “efforts to reduce carbon dioxide emissions in all of our operations.” Based on these policies, we are moving toward achieving our target of reducing the Subaru Group’s direct CO2 emissions*4 to 30 percent below FY2016*5 levels by FY2030*5 (on a total emissions volume basis). The installation of this new solar facility, which follows Subaru’s participation in the Tochigi Furusato Denki program in April 2018*6, is the latest initiative to achieve this goal.

By advancing environmental efforts in its manufacturing plants, Subaru aims to contribute to creating a low-carbon society and pursuing environmental protection in the areas and communities where it operates.
Subaru will continue its efforts to significantly reduce CO2 emissions with the aim of achieving the sustainable society envisioned in the Subaru Environmental Policies.

*1 Based on a study by Japan Facility Solutions, Inc.
*2 Calculated using CO2 emissions factor provided by Tepco Energy Partner, Inc. for FY2016 (0.474 kg-CO2/kWh)
*3 The Subaru Environmental Policies: https://www.subaru.co.jp/en/outline/vision.html#EP
*4 CO2 emitted directly by Subaru Group plants, offices, etc. (Scope 1 & 2)
*5 FY2016: Fiscal year ended March 31, 2017. FY2030: Fiscal year ending March 31, 2031.
*6 The company’s press release dated May 10, 2018: https://www.subaru.co.jp/press/news-en/2018_05_10_6239/

Rendering of the completed solar power system at the Gunma Oizumi Plant

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[PDF/474 KB]

Subaru Corporation Announces Changes in Areas of Responsibility of the Management(Effective November 1, 2018)

November 22, 2018

Subaru Corporation Announces Changes in Areas of Responsibility of the Management
(Effective November 1, 2018)

Tokyo, November 22, 2018 – Subaru Corporation made the following changes in areas of responsibility of the management. The changes took effect on November 1, 2018.

1. Changes in Directors’ areas of responsibility

Name
Effective November 1, 2018
Former

Yasuyuki Yoshinaga
Director
Chairman
– “Tadashii-Kaisha” Promotion Dept.
– Compliance Office
– “Tadashii-Kaisha” Promotion Dept.
– Compliance Office
– In Charge of Quality

—
—

Tomomi Nakamura
Representative Director
President
– Chief Executive Officer (CEO)
– Aerospace Company
– In Charge of Quality
– Chief Executive Officer (CEO)
– Aerospace Company

—
—

Masaki Okawara
Representative Director
Executive Vice President
– Chief Information Officer (CIO)
– IT Strategy Div.
– In Charge of Manufacturing
– China Project Office
-Chief Information Officer (CIO)
-IT Strategy Div.
-In Charge of Manufacturing

Chief General Manager of IT Strategy Div.
Chief General Manager of IT Strategy Div.

2. Change in Vice President’s areas of responsibility

Name
Effective November 1, 2018
Former

Yasuhiro Hamanaka
Vice President
– Aerospace　Company
– Aerospace　Company

Company Vice President of Aerospace
Company
General　Manager of Kisarazu Maintenance Dept.
Company Vice President of Aerospace
Company
General Manager of Production Planning Dept. and Kisarazu Maintenance Dept.

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[PDF/226 KB]

Subaru Introduces its First Plug-In Hybrid Vehicle, the Crosstrek Hybrid, in the U.S.

November 20, 2018

Subaru Introduces its First Plug-In Hybrid Vehicle, the Crosstrek Hybrid, in the U.S.

●
First-ever Subaru plug-in hybrid vehicle

●
The Hybrid features the new Subaru StarDrive Technology that uniquely integrates electric motors, a 2.0-liter direct-injection SUBARU BOXER engine, Subaru Symmetrical All-Wheel Drive, and a new Lineartronic (Continuously Variable Transmission).

●
EyeSight Driver Assist Technology standard

●
To debut at 2018 Los Angeles Auto Show

Tokyo, November 20, 2018 – Subaru Corporation has introduced its first-ever plug-in hybrid vehicle, the Subaru Crosstrek Hybrid, in the U.S.

With the automotive and aerospace businesses as the pillars of operations, Subaru defines “the earth, the sky and nature” as its field of business, and therefore, preservation of the ecosystem of the environment is of importance at Subaru to act as a business organization. In terms of the products, Subaru aims to “develop and deliver products to meet societal needs and contribute to the environment through advanced technologies” in the environmental policy. Offering real all-wheel capability in a hybrid package, the Subaru Crosstrek Hybrid is a highly anticipated SUV that embodies the company’s environmental vision.

The brand’s first-ever plug-in hybrid vehicle, the Subaru Crosstrek Hybrid, provides the enhanced environmental performance to meet the social needs while keeping all the capability and versatility of the standard Crosstrek. With a combination of superior driving dynamics and improved environmental performance, the Crosstrek Hybrid offers a new “Enjoyment and Peace of Mind” driving experience that conventional gas-powered models cannot match.

Subaru Crosstrek Hybrid will go on sale at U.S. Subaru retailers by the end of this year.

Subaru Crosstrek Hybrid
Charging Port

Main Features of Subaru Crosstrek Hybrid

■　New “Enjoyment and Peace of Mind” driving experience unique to Plug-In Hybrid models
・The Hybrid features the new Subaru StarDrive Technology that uniquely integrates electric motors, a 2.0-liter direct-injection SUBARU BOXER engine, Subaru Symmetrical All-Wheel Drive, and a new Lineartronic (Continuously Variable Transmission)
・EV range of 17 miles covers a variety of trips
・Up to 90 MPGe with a total range of 480 miles
・Smooth, responsive and strong acceleration when using both gas and electric power
・Superb rough road driving capability thanks to the quick response of electric motor
・Charging from an ordinary household power outlet is also available, besides a specific charger, for user convenience
・The high-voltage cables that connect components like the power control unit that controls the high voltage battery and energy flows, and the motor/generator have been designed with numerous forms of protection including shielding and covers for safety
・Towing capacity of up to around 1000 lbs for various objects

■　Exclusive design emphasizing its sophistication and superb functionality
・Newly designed shapes and features added to key points around the exterior emphasize the rugged, solid look of the body and colors and textures provide a more advanced, premium feel
・Lagoon Blue Pearl is available as the exclusive exterior color for Crosstrek Hybrid
・The entire interior has been color-coordinated with a blue tone to give the cabin an advanced, exclusive atmosphere
・Exclusive combination meter features a sophisticated, sporty look with its blue color theme

■　Features and functions making a day-to-day life with the vehicle even more comfortable
・Display contents specific for the Plug-In Hybrid model and the telematics system enhanced by exclusive features provide added convenience and comfort
・The Remote Battery Charging Timer function allows to change charge setting remotely from smartphone app
・The Remote Climate Control function allows to control the vehicle’s air conditioning system remotely, before getting onto it, using a smartphone app or the key

■　Retains the characteristics of the standard Crosstrek
・Superb dynamic quality achieved with the rigid body structure of Subaru Global Platform
・An electronically controlled brake system that consists of regenerative brakes and mechanical brakes has been adopted
・Versatile packaging achieved by minimizing the impact of added plug-in hybrid exclusive components

■　Overall safety for fun driving with peace of mind
・The same superior safety as gasoline models based on SUBARU’s distinct comprehensive safety philosophy, encompassing technology aimed at ensuring safe driving everywhere, and not only in the unlikely event of an accident .
・Superior hazard avoidance capability making driver unaware of the impact of the increased weight or other aspects as a Plug-In Hybrid model
・Collision safety performance is based on the safe framework of the Subaru Global Platform, and features a strengthened chassis platform to support the increased weight of the Plug-In Hybrid system, as well as protection for the High voltage battery to ensure Crosstrek’s class leading safety even in the Plug-In Hybrid model

Specification of 2019 Subaru Crosstrek Hybrid

Exterior Dimensions

175.8 × 71.0 × 62.8 in.

Wheelbase
104.9 in.

Min. road clearance
8.7 in.

Internal Combustion Engine

　Type
FB20 4-cyl. horizontally opposed direct injection BOXER engine
DOHC, 16 valves, Dual AVCS

　Displacement
1995 cc

　Bore x Stroke
3.31 in. × 3.54 in.

　Horsepower
137 hp / 5600 rpm

　Torque
134 lb-ft / 4400 rpm

　Fuel tank capacity
13.2 gal

　Fuel type
87 AKI

Transmission
Lineartronic（CVT） integrating two motor generators

Motor Generator for electrical drivetrain power output and regenerative braking/charging

　Horsepower
118hp

　Torque
149lb-ft

Hybrid Battery

　Type
Lithium-ion

　Battery capacity
8.8 kWh

　Rated Capacity
25.0 Ah

　Voltage
351.5 V

Drive system
Symmetrical All-Wheel Drive

Tire Size
225/55 R18

Passenger Capacity
5-passenger

[PDF/567 KB]

Revision of Performance Projection for the First Half of the Fiscal Year Ending 2019 (from April 1 to September 30, 2018)

October 23, 2018

Revision of Performance Projection
for the First Half of the Fiscal Year Ending 2019 (from April 1 to September 30, 2018)

Company name: SUBARU CORPORATION
Representative: Tomomi Nakamura, Representative Director, 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

Considering the current business trend, Subaru Corporation has announced the revision of performance projection for the first half of the fiscal year ending March 31, 2019 (from April 1 to September 30, 2018) which was released at the timing of consolidated financial results announcement on August 6, 2018.

1. Revision of consolidated basis performance projection for the first half of the fiscal year 2019
(from April 1 to September 30, 2018)

Net sales
Operating Income
Ordinary Income
Net Income*
Net Income
Per Share

Previous projection (A)
Millions of yen
1,463,100
Millions of yen
110,000
Millions of yen
111,700
Millions of yen
79,100
Yen
103.17

Revised projection (B)
1,486,000
61,000
66,000
49,000
63.91

Increase and decrease (B-A)
22,900
(49,000)
(45,700)
(30,100)

Change of percentage (%)
1.6
(44.5)
(40.9)
(38.1)

Actual results of the first half of
the fiscal 2018 (ended
September 30, 2017)
1,608,013
212,125
212,726
85,005
110.87

*Net income attributable to owners of parent

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

The Company has revised the consolidated performance projection for the first half of fiscal year ending March 31, 2019 as above due mainly to quality-related expenses which offset foreign exchange gains.
The revised projection is based on assumed foreign exchange rates of ¥109/US$(previously ¥105/US$) and ¥131/EUR(previously ¥130/EUR).
Full-year consolidated performance projection for the fiscal year ending March 31, 2019 is currently under examination and will be published concurrent with the release of consolidated financial results for the first half scheduled for November 5, 2018.

3. Dividends

There is no revision of dividend forecast.

Note: Above mentioned projections are based on certain assumptions and our management’s judgment in light of currently available information, therefore actual results may differ from these projections.

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[PDF/113 KB]

Supplementary explanation on Performance Projectionfor the First Half of the Fiscal Year Ending 2019 (from April 1 to September 30, 2018)

November 1, 2018

Supplementary explanation on Performance Projection
for the First Half of the Fiscal Year Ending 2019 (from April 1 to September 30, 2018)

Regarding “quality-related expenses”, which was the main factor of the amendment, “Revision of Performance Projection for the First Half of the Fiscal Year Ending 2019 (from April 1 to September 30, 2018)” announced on October 23, 2018, is made up of a majority of the cost related to the recall that we reported to Ministry of Land today.

Consolidated results for the first half of the fiscal year ending 2019 (from April 1 to September 30, 2018) and full-year consolidated performance projection for the fiscal year ending March 31, 2019 is currently under examination and will be published concurrent with the release of consolidated financial results for the first half scheduled for November 5, 2018.

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[PDF/118 KB]

Notice Regarding Year-on-Year Changesin Consolidated Financial Results for the First Half of FYE 2019

November 5, 2018

Notice Regarding Year-on-Year Changes
in Consolidated Financial Results for the First Half of FYE 2019

Subaru Corporation hereby notifies year-on-year changes between the consolidated financial results for the first half of FYE 2019 (April 1 – September 30, 2018) announced today and the corresponding half of the previous year. Details are set out below.

1. Year-on-Year Changes in Consolidated Financial Results for the First Half of FYE 2019

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

1st Half of FYE 2018 (A)
Millions of yen
1,608,013
Millions of yen
212,125
Millions of yen
212,726
Millions of yen
85,005
Yen
110.87

1st Half of FYE 2019 (B)
1,486,810
55,040
60,010
44,312
57.79

Increase and decrease (B-A)
(121,203)
(157,085)
(152,716)
(40,693)

Change of percentage (%)
(7.5)
(74.1)
(71.8)
(47.9)

2. Reasons for the Changes

In the automotive business, despite strong sales of the fully-redesigned Forester launched in July 2018, unit sales in Japan declined by 17,000 units (21.1%) year-on-year to 65,000 vehicles, as sales of Impreza and Subaru XV models declined compared to their prior year sales which were driven by the launch of their fully-redesigned versions. Despite strong demand for the all-new Ascent launched in North America, overseas unit sales fell by 32,000 units (7.1%) year-on-year to 417,000 vehicles, as deliveries of the Forester decreased before the launch of its fully-redesigned version and deliveries to the U.S. and other markets were adjusted to optimize local inventory levels.
As a result consolidated net sales for the First Half of FYE 2019 declined by ¥121.2 billion (7.5%) year-on-year to ¥1,486.8 billion.
Operating income decreased by ¥157.1 billion (74.1%) year-on-year to ¥55.0 billion due to factors including quality-related expenses and lower vehicle sales volumes, and ordinary income fell by ¥152.7 billion (71.8%) year-on-year to ¥60.0 billion. Quarterly net income attributable to owners of parent also declined by ¥40.7 billion (47.9%) to ¥44.3 billion.

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[PDF/162 KB]

Revision of Performance Projection for the Fiscal Year Ending March 2019

November 5, 2018

Revision of Performance Projection for the Fiscal Year Ending March 2019

Considering the current business trend, Subaru Corporation has announced the revision of performance projection for the fiscal year ending March 2019 which was released at the timing of consolidated financial results announcement on August 6, 2018.

1. Revision of consolidated basis performance projection for the fiscal year ending March 2019
　(from April 1 to March 31, 2019)

Net sales
Operating Income
Ordinary Income
Net income
attributable to
owners of parent
Net Income
Per Share

Previous projection (A)
Millions of yen
3,250,000
Millions of yen
300,000
Millions of yen
305,000
Millions of yen
220,000
Yen
286.94

Revised projection (B)
3,210,000
220,000
229,000
167,000
217.80

Increase and decrease (B-A)
(40,000)
(80,000)
(76,000)
(53,000)

Change of percentage (%)
(1.2)
(26.7)
(24.9)
(24.1)

Actual results of the first half of
the fiscal 2019 (ended
September 30, 2018)
3,232,695
379,447
379,934
220,354
287.40

2. Reasons for the Changes

Full-year forecasts for FYE 2019 are revised from the previous announcement made on August 6, 2018, to reflect factors including a decrease in consolidated unit sales and an increase in quality-related expenses.
Currency rate assumptions: 110 yen/US$, 130 yen/euro

3. Dividends

There is no revision of dividend forecast.

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[PDF/110 KB]

Subaru Corporation Receives Securities Analysts’Award for Excellence in Corporate Disclosure for Fifth Consecutive Year

October 15, 2018

Subaru Corporation Receives Securities Analysts’
Award for Excellence in Corporate Disclosure for Fifth Consecutive Year

Tokyo, October 15, 2018 – Subaru Corporation has been selected as the top company in the “automobile, auto parts and tires” category of the 2018 Awards for Excellence in Corporate Disclosure presented by the Securities Analysts Association of Japan (SAAJ). Subaru received the highest marks among the 19 companies in the category that were evaluated. This is the fifth consecutive year that Subaru has received this award.

The Excellence in Corporate Disclosure Awards have been presented by the SAAJ every year since 1995 with the goal of improving corporate information disclosure. This year marks the 24th year that the award program has been held. Companies are evaluated by securities analysts of each sector on the basis of the following five criteria:
1) management’s stance on investor relations, the function of a corporation’s investor relations department, and basic stance of a corporation’s investor relations; 2) disclosures through briefings, interviews, and explanatory materials; 3) fairness in disclosure; 4) disclosure related to corporate governance; and 5) voluntary disclosure that conforms to conditions of each industry.

As the company’s management philosophy, Subaru aims to be “a compelling company with a strong market presence” built upon its customer-first principle.
We will continue to meet our responsibilities as a company that conducts its business on the global stage and, in our IR activities, will seek to further enhance shareholder and investor understanding of Subaru through the broad-based and fair disclosure of corporate information.

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[PDF/360 KB]