Tag: Financial Results

Kia unveils upgraded Sportage with diesel mild-hybrid powertrain, new technologies and fresh design

News

All

SUBSCRIBE TO RSS FEED

XML

Updated interior and exterior design for European and global best-sellerRevised powertrain line-up includes EcoDynamics+ 2.0-litre diesel mild-hybrid and efficient new 1.6-litre ‘U3’ dieselEcoDynamics+ powertrain reduces CO2 emissions by up to 4% under WLTPNew technologies include upgraded infotainment and active driver aidsOn-sale in Europe during Q3 2018Kia Motors has revealed the upgraded Kia Sportage today, introducing a range of enhancements to the brand’s European and global best-seller. The new model pairs an updated exterior and interior design with new safety and infotainment technologies. Powertrains are also fully-compliant with future emissions standards. The Sportage’s advanced new EcoDynamic+ 48V diesel mild-hybrid powertrain is the first to be launched as part of the brand’s global powertrain electrification strategy. Kia is the first manufacturer to offer hybrid, plug-in hybrid, battery-electric and 48-volt mild-hybrid technolo..

Uber Begins Trading on NYSE

Today, Uber Technologies, Inc., started trading on NYSE. Its IPO offers 180,000,000 shares of its common stock at a price to the public of $45.00 per share. The underwriters have been granted a 30-day option to purchase up to an additional 27,000,000 shares from certain selling stockholders at the initial public offering price less underwriting… Continue reading Uber Begins Trading on NYSE

Uber’s IPO Hits a Yellow Light as Stock Price Stays Below Opening

Where was the pop? Investors in Uber—German for over—should be rejoicing on the company’s opening day on the NYSE. Instead, the stock opened at the planned $45 and has remained under that price as of midday. Typically, an IPO is first sold through investment bank underwriters to big institutional investors and to favored individual clients,… Continue reading Uber’s IPO Hits a Yellow Light as Stock Price Stays Below Opening

Loss-making Uber valued at $82bn in US IPO

On 9th May 2019, Uber priced its initial public offering at $45 per share. Image via Pixabay Ride-sharing firm Uber has been valued at $82 billion on its US initial public offering (IPO), or $45 a share – at the lower end of its original target range. At that price, the company will have a market… Continue reading Loss-making Uber valued at $82bn in US IPO

Notice Regarding Year-on-Year Changesin Consolidated Financial Results for FYE2019

May 10, 2019

Notice Regarding Year-on-Year Changes
in Consolidated Financial Results for FYE2019

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 Investor Relations Department
Phone: +81-3-6447-8825

Subaru Corporation hereby notifies year-on-year changes between the consolidated financial results for FYE2019 (April 1 – March 31, 2019) announced today and the corresponding of the previous year. Details are set out below.

1. Year-on-Year Changes in Consolidated Financial Results for FYE2019

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

FYE2018 Results (A)
Millions of yen
3,232,695
Millions of yen
379,447
Millions of yen
379,934
Millions of yen
220,354
Yen
287.40

FYE2019 Results (B)
3,160,514
195,529
196,0239
147,812
192.78

Increase or decrease (B－A)
(72,181)
(183,918)
(183,695)
(72,542)

Percentage change (%)
(2.2)
(48.5)
(48.3)
(32.9)

Note: The Company has changed its accounting policies with effect from the first quarter of FYE2019. Accordingly, the new policies have been retroactively applied to FYE2018 results before carrying out year-on-year comparison and analysis of net sales figures.

2. Reasons for the Changes
In the automotive business, overseas retail sales remained stable in North America, which is a priority market for us, contributed by strong sales of Ascent, a new model vehicle newly launched. However, total unit sales dropped by 39 thousand units (4.3%) from the previous fiscal year to 865 thousand units due to the decrease in shipment of Forester, which had not been fully remodeled for the first half of this fiscal year. Overall domestic sales also decreased by 28 thousand units (17.2%) from the previous fiscal year to 135 thousand units due to the decline in sales of Impreza, SUBARU XV and Levorg, while the sales of Forester, which was fully remodeled in July, grew steadily. Combined domestic and overseas unit sales thus decreased by 67 thousand units (6.3%) from the previous fiscal year to 1 million units.
In the Aerospace Company, Deliveries to the Japan Ministry of Defense saw sales decrease from the previous fiscal year, partly because the performance of a contract for the test production of a new multi-purpose helicopter for the Ground Self-Defense Force had been completed.Affected by the decline in production of Boeing 777 aircraft, the sales in the civilian market also fell below the previous fiscal year.
As a result, Net sales in the period under review decreased by ¥72.2billion (2.2%) from the previous fiscal year to ¥3,160.5 billion.
The increase in quality-related expenses triggered by the recall in November 2018 and the decrease in automobile unit sales affected both operating income and ordinary income, which respectively dropped by ¥183.9 billion (48.5%) to ¥195.5 billion and by ¥183.7 billion (48.3%) to ¥196.2 billion compared with the previous fiscal year. Net income attributable to owners of the parent also fell by ¥72.5 billion (32.9%) from the previous fiscal year to ¥147.8 billion.

###

[PDF/165 KB]

Uber fizzles in Wall Street debut, opens below $45 IPO price

(Reuters) – Uber Technologies Inc’s shares made a disappointing market debut on Friday, marking a rocky start for the most anticipated initial public offering of the year as other high-profile startups such as Slack and WeWork look to go public. The fall in shares undermined Uber’s strategy of pricing its oversubscribed IPO conservatively at $45… Continue reading Uber fizzles in Wall Street debut, opens below $45 IPO price

EU car wifi plan delayed as countries await legal advice

BRUSSELS (Reuters) – The European Commission’s plan for a wifi-based standard for cars endorsed by Volkswagen faces a two-month delay as EU countries wait for legal advice on the proposal, giving a glimmer of hope to backers of the rival 5G technology. Envoys from the 28 EU countries met on Wednesday and agreed to extend… Continue reading EU car wifi plan delayed as countries await legal advice

Volvo Cars is cutting several hundred jobs: Swedish radio

FILE PHOTO: A long exposure picture shows cars of Swedish automobile manufacturer Volvo displayed in front of a showroom of Stierli Automobile AG company in St. Erhard, Switzerland April 11, 2019. REUTERS/Arnd Wiegmann STOCKHOLM (Reuters) – Swedish carmaker Volvo, which is owned by China’s Geely, is cutting several hundred jobs, Swedish radio reported on Friday… Continue reading Volvo Cars is cutting several hundred jobs: Swedish radio

Elon Musk is wrong on robotaxi timing, Uber CEO Dara Khosrowshahi says

Uber CEO Dara Khosrowshahi: I disagree on Musk's robo-taxi timing expectations
1 Hour Ago | 01:09

Uber CEO Dara Khosrowshahi told CNBC he agrees with Tesla CEO Elon Musk that the future of mobility is electric, but he disagrees with Musk that truly autonomous “robotaxis” will next year.

In an interview that aired on Uber's IPO day on Friday, “Squawk Box” co-host Andrew Ross Sorkin asked him what the future of mobility looks like.

“First of all, it's got to be electric,” the CEO said. “We think that's a no-brainer. It's good for the environment. It's where the world is going. And we're playing our part, for example, in London to move it electric.” He added that Uber, of course, thinks the future of mobility also has to be “shared.”

The ride-hailing giant will make its debut on the New York Stock Exchange on Friday, pricing its IPO on Thursday night at $45 per share.

Tesla CEO Elon Musk recently told investors he is ready to take Tesla into a new, driverless era. The company should have a million vehicles capable of functioning as driverless robotaxis on the road by the end of 2020, he said. He also told investors that self-driving technology and services will help his electric car company grow to a $500 billion market cap.

When the Uber CEO first heard Musk's predictions about this, Khosrowshahi said, “I thought: If he can do it, more power to him. Our approach is a more conservative approach as far as sensor technology and mapping technology. The software's going to get there. So I don't think that his vision is by any means wrong. I just think we disagree on timing.”

Spencer Platt | Getty Images
The inside of a Tesla vehicle is viewed as it sits parked in a Tesla showroom and service center in Red Hook, Brooklyn on July 5, 2016.

Musk has also promised investors and fans that Tesla's self-driving cars will be able to work 100 hours a week, generating tens of thousands of dollars in income for their owners. He has also said that Tesla should be able to win regulators over to approve Tesla robotaxis for commercial use in the near future, at least in some locales.

Tesla and Uber have seen their semi-autonomous vehicles involved in fatal crashes in recent years.

Khosrowshahi struck a more sober tone about a driverless future.

“I think it will be quite a few years beyond,” he said.

While media coverage and industry conversations have focused on the dramatic notion that robots will steal jobs from people, the Uber CEO said he believes automation will always work better to augment humans' work. The better things are robots and humans together. Hybrid is always better, and hybrid states can continue for a much longer period than you think.”

In addition to its sizable ride-hailing business, Uber offers bike and scooter rentals, food delivery and operates a freight marketplace that links senders to shippers. Uber is developing self-driving vehicle technology through its Advanced Technologies Group.

Post-IPO Uber has a market capitalization over $80 billion. Tesla's market cap currently stands around $43 billion.

Uber CEO Dara Khosrowshahi: We want long-term investors
2 Hours Ago | 02:46

Suzuki Motor says India uncertainty to limit profit growth

Growing use of app-based cab services such as from Ola and Uber Technologies Inc, tighter credit and market uncertainty ahead of India’s general election have all weighed on the auto industry, hurting sales of private cars. TOKYO: Suzuki Motor Corp on Friday forecast a 1.7% rise in profit this year, anticipating limited growth due to… Continue reading Suzuki Motor says India uncertainty to limit profit growth