Official Press Release – Page 25940 – I wish I had more to offer

Ridecell Expands Series B Equity Round and Increases Funding to Over $60M

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ParkWhiz Completes Equity Round with Follow-On Participation From Strategic Investors Including Alate Partners and Amazon Alexa Fund

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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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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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Tue 06 Nov 2018

CARBON ALUMINIUM AUTOMOTIVE HYBRID STRUCTURES (CAAHS) PROJECT SHORTLISTED FOR THE ENGINEER’S COLLABORATE TO INNOVATE AWARDS (C2I) 2018
The Carbon Aluminium Automotive Hybrid Structures (CAAHS) project has been shortlisted within the Manufacturing Technology category for The Engineer’s Collaborate to Innovate Awards 2018, now in its third year, and is a celebration of collaboration highlighting the strength and depth of UK engineering innovation.

The CAAHS project – a part funded 2 year programme through the Innovate UK framework – has been a research based collaboration between 5 automotive partners, led by Gordon Murray Design, Constellium, Brunel University London, Innoval Technology and Bentley Motors. The major construction challenges of the project have been overcome and initial crash testing of the BIW structure is planned for mid November 2018. Due for completion at the end of November 2018, the project is on course to exceed expectations. The technology has delivered a weight saving of 35% compared to the current iStream® solution (based on steel and glass fibre composites) and translates into a saving of 50% over conventional pressed steel BIW construction. iStream Superlight®, as the technology is referred to, is anticipated to be the predominate technology offered by Gordon Murray Design to it’s clients in the future and is already the basis of several vehicle programmes being undertaken.

The project aims to take another major step with the disruptive iStream technology for a new generation of lightweight vehicles for the UK market that can have a major impact on the UK government’s carbon reduction targets for the UK vehicle fleet.

The ultimate winners of C2I 2018 will be announced on November 6th at the historic St Bart’s Brewery in London.

What the judges have said:

“At Frazer-Nash, we know that effective collaboration and the development of innovative solutions is vital in today’s increasingly competitive markets. We’re delighted to support a competition that recognises the achievements of effective partnerships and the value that innovation delivers to the UK economy.” Bill Hodson, Board Director, Frazer-Nash Consultancy

“I found the level of collaboration quite astonishing – the other thing that comes out is the cross-fertilisation of techniques and technologies from one sector to another.” John Halton, Director Business & Industry, Engineering UK

Professor Gordon Murray, Chairman at Gordon Murray Design said of the award “It is a great honour for the CAAHS consortium that the CAAHS project has been shortlisted for The Engineer’s Collaborate to Innovate Awards 2018. For me personally, the most important message is the recognition that we need innovation in both technical and business sectors to help the UK take the lead in the new ‘green’ industrial revolution that is taking place in the automotive industry.”

-Ends-

Notes to Editors:

About Gordon Murray Design Limited

Gordon Murray Design is a visionary design and engineering company with its headquarters in Shalford in Surrey, plus R&D and manufacturing facilities in Dunsfold. It was established in 2007 with a focus on developing an innovative and disruptive manufacturing technology trademarked iStream®, and has since built a global reputation as one of the finest automotive design teams in the world.

The company’s unique approach and truly creative thinking enables Gordon Murray Design to deliver complete car programmes in a highly efficient and innovative way from concept and design, through to prototype and development for production.

About iStream

Rather than the traditional method of combining hundreds of panels of stamped metal, iStream uses tubular metal with 10 – 15 structural composite panels. iStream Superlight® is the ultimate automotive lightweighting technology as it maximises the iStream approach by using cored honeycomb carbon fibre composite and an aluminium frame to save almost 50% in weight against a standard stamped metal chassis.

iStream is an acronym for iS = Stabilised; T = Tube; R = Reinforced; E = Exo-frame; A = Advanced; M = Manufacturing.

www.istreamtechnology.co.uk

About iStream Superlight®

Advantages of iStream Superlight

50% saving over conventional stamped steel BIW

High degree of flexibility in optimising aluminium section shapes to ensure structural efficiency

Corrosion resistant properties exceed coated steel

Cold metal transfer welding reduces distortion and manufacturing time

Low weight aluminium frame can deliver a cost neutral BIW when compared to stamped steel

Delivers new levels of efficient body quality

Aluminium saving vs conventional aluminium BIW

More efficient frame stiffness achieved for aluminium section through use of carbon iPanels®

Low cost, high recycled content aluminium alloys

Re-cycled carbon fibre

Aluminium iFrame® protected from external damage

All hard points (i.e. suspension, steering etc.) are carried by the aluminium iFrame

Carbon sandwich panel cycle time of 100 seconds

About Bentley Motors

Bentley Motors is the most sought after luxury car brand in the world. The company’s headquarters in Crewe is home to all of its operations including design, R&D, engineering and production of the company’s four model lines, Continental, Flying Spur, Bentayga and Mulsanne. The combination of fine craftsmanship, using skills that have been handed down through generations, alongside engineering expertise and cutting-edge technology is unique to UK luxury car brands such as Bentley. It is also an example of high-value British manufacturing at its best. Bentley employs around 4,000 people at Crewe.

About Brunel University London

Advanced Solidification Technology (BCAST), at Brunel University London, led by Professor Zhongyun Fan, is an internationally renowned Research Group with more than 50 dedicated academic staff in the field of casting and light alloy technology and process development. BCAST was established in 2002 based on pioneering scientific work on nucleation that developed into a series of novel casting technologies based on high shear melt processing and melt-conditioning, generically described as liquid metal engineering, to provide sustainable aluminium and magnesium alloys for lightweight vehicle structures. BCAST has established world-class, applied research facilities for the development of advanced casting and down-stream light alloy processing technologies. The first of these new facilities is the £12.0M Advanced Metals Casting Centre (AMCC). This new facility houses production scale extrusion and casting facilities that will be complemented by new joining technologies in the Advanced Metals Processing Centre due to open Q1 2018. For more information, please visit

www.brunel.ac.uk/bcast

About Constellium

Constellium (NYSE and Euronext: CSTM) is a global sector leader that develops innovative, value added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. Constellium generated €4.7 billion of revenue in 2016.

www.constellium.com

About Innoval Technology Ltd

Innoval Technology Ltd provides high quality consultancy, technical support and training to investors, manufacturers and end-users of aluminium, and other light metals, across a broad range of industry sectors. The company, based in Banbury, UK, holds ISO9001: 2008 certification and ISO17025 accreditation. Innoval Technology is part of Danieli Group. For more information visit www.innovaltec.com and follow us on Twitter @InnovalBanbury.

Enquiries:

For further information please contact Sarah Smith, Communications Officer at Gordon Murray Design Limited sarah.smith@gordonmurraydesign.com +44 (0)1483 484700.

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Via Rides into Virginia with New Arlington County Service

Published October 29, 2018 9:00 am, Via NYC
Via Rides into Virginia with New Arlington County Service

Via, the world’s leading expert in on-demand shared transit, is excited to announce the extension of its DC service to Arlington County, Virginia.

Via first launched in Washington DC in August 2016 to support residents during SafeTrak repair work to the red line. The service has since grown to cover the entire District and has provided more than 1.5 million shared rides to date. The expansion into Arlington will extend Via’s affordable and convenient rides to this vibrant commercial, residential, and historical hub. Via plans to further extend operations to Reagan National Airport in the coming months.

Via’s world-renowned dynamic ride-pooling technology, developed initially for New York City, has powered more than 35 million shared rides globally throughout the United States, Europe, Asia, Australia and New Zealand.

How it works:

Using the Via app, passengers select their pick up and drop off location and confirm their ride. Via’s smart algorithm enables multiple riders to seamlessly share a single vehicle. The powerful technology directs passengers to a nearby corner – a virtual bus stop – for pick up and drop off, allowing for quick and efficient shared trips without lengthy detours that take riders out of their way. This enables Via’s system to transport a high volume of passengers while using a fraction of the number of vehicles utilized by taxis or on-demand car services. By grouping multiple passengers into a single shared vehicle, Via reduces congestion and emissions, providing an inexpensive, eco-friendly, and convenient transportation alternative.

“Via’s powerful technology is seamlessly integrating with public transit infrastructure around the globe, redefining the way people get around cities,” said Daniel Ramot, co-founder and CEO of Via. “We’re delighted to be expanding into Arlington, extending our convenient, affordable, and congestion-reducing service to residents of Virginia.”

About Via

Via is re-engineering public transit, from a regulated system of rigid routes and schedules to a fully dynamic, on-demand network. Via’s mobile app connects multiple passengers who are headed the same way, allowing riders to seamlessly share a premium vehicle. First launched in New York City in September 2013, the Via platform currently operates in the United States, and in Europe through its joint venture with Mercedes-Benz Vans, ViaVan. Via’s technology is also deployed worldwide through partner projects with public transportation agencies, private transit operators, taxi fleets, private companies, and universities, seamlessly integrating with public transit infrastructure to provide the most cutting edge on-demand mobility innovation.

Rauli Hantikainen Takes Charge of Industry 4.0 Business Sector at Schaeffler

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Aston Martin named Luxury Brand of the Year

Published: Nov 06, 2018

Tags:

by
Neil Allison

Aston Martin has been named ‘Luxury Brand of the Year’ at the Luxury Briefing Awards. Heralded as the ‘Oscars of the Luxury Industry’, the aim of the annual event is to reward and celebrate excellence and innovation.

6 November 2018, London: Aston Martin has been named ‘Luxury Brand of the Year’ at the Luxury Briefing Awards. Heralded as the ‘Oscars of the Luxury Industry’, the aim of the annual event is to reward and celebrate excellence and innovation.
Presenting the award, Sir Eric Peacock described Aston Martin as a “powerful, hugely aspirational brand that is the epitome of luxury” and defied anyone in the room not to covet it. He went on to say the last 12 months have been an “Annus Magnificus” for the brand as it “soared into profit, increasing sales by an astonishing 8% in the first half of the year alone…it has been one of the fastest turnarounds and renaissances the luxury industry has ever seen”.
Aston Martin Lagonda Vice-President and Chief Marketing Officer, Simon Sproule, was at The Savoy in central London to collect the award. He said: “It’s a great honour to be named Luxury Brand of the Year. At Aston Martin Lagonda we have a fantastic team that lives and breathes this beautiful brand, working to grow and develop our presence across the world. With each car launch, each new brand partnership or lifestyle event, we get closer to our current and future customers. At a time when the automotive industry is facing incredible challenges we are pushing constantly to make sure the Aston Martin brand, and soon the Lagonda brand, not only stands the test of time but flourishes during this period of change.”
Aston Martin are also delighted that the award for ‘Outstanding Contribution to Charity’ was made to Aston Martin Cambridge, for the special edition Vanquish S that helped raise £1.5 million for the RAF Benevolent Fund. The raffle for ‘Red 10’, the 10th car from a limited edition run of the ‘Aston Martin Vanquish S Red Arrows edition’ raised an astonishing £1.5 million for the RAF Benevolent Fund, which works to support the men and women of the RAF and their families.
The eminent Luxury Briefing judging panel described the Aston Martin’s Red 10 raffle as “a charitable gesture that was tangible, solid and fun…a highly visible but straightforward and simple initiative that provided an excellent blueprint for other brands to imitate.”
The Vanquish S Red Arrows was pioneered and commissioned by Aston Martin Cambridge, whose Dealer Principal Simon Lane accepted the award, saying: “What started as an idea to pay tribute to the spectacular aviation skills of the Red Arrows, quickly became an opportunity to do some great work for charity. Nine very happy customers now own ‘Red 1’ to ‘Red 9’ and ‘Red 10’ has gone on to raise a significant sum for the RAF Benevolent Fund. The whole team at Aston Martin Cambridge is very proud of this project and delighted to accept this award.”

Federal Office for Motor Traffic (KBA) approval: Audi to start recall of diesel models in Germany

On Wednesday Audi will begin the first of eight recalls for cars with V TDI engines in Germany. Following approval by the Federal Office for Motor Traffic (KBA) the company will initially be recalling around 31,200 vehicles to the workshops. In total, around 151,000 midsize and full-size cars in Germany are affected by the eight… Continue reading Federal Office for Motor Traffic (KBA) approval: Audi to start recall of diesel models in Germany

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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