August 4, 2020
Company name: SUBARU CORPORATION
Representative: Tomomi Nakamura, Representative Director, President and CEO
Code number: 7270 (First Section of Tokyo Stock Exchange)
Contact for inquiries: Yasushi Nagae, Vice President
and General Manager of Investor Relations Department
Phone: +81-3-6447-8825

Notice Regarding Financial Forecast and Dividend Forecast
Subaru Corporation hereby announces the consolidated financial forecast and dividend forecast for the fiscal year ending
March 31, 2021, which was left undetermined in the “Consolidated Financial Results for the Year Ended March 31, 2020”,
disclosed on May 18, 2020, as follows:
1. Consolidated Financial Forecast
1.1

Consolidated Financial Forecast for the Fiscal Year Ending March 2021 (April 1, 2020 - March 31, 2021)

Previous forecast (A)Revenue

OperatingprofitProfit before
tax

Profit for theperiod
attributable toowners ofparent

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

2,900,000-

80,000-87,000-60,000-78.25-

3,344,109

210,319

207,656

152,587

198.99

Revised forecast (B)Increase and decrease (B-A)
Change of percentage (%)(Ref.) Actual results of previousfiscal year (Ended March 2020)

1.2

Profit forthe period
per share,basic

Reason for the announcement
At the time of its previous earnings report (for the fiscal year ended March 2020) on May 18, 2020, theCompany announced that forecasts for the fiscal year ending March 2021 were yet to be determined due tothe difficulty of reasonably assessing the impact of the Covid-19 pandemic.
While it remains uncertain when the pandemic will end, we have formulated projections for FYE 2021
based on the information available at present. The projections have been made on the assumption thatautomobile demand will recover to a certain level toward the second half of the fiscal year, especially in theU.S., its largest market.

2.

Dividend Forecast
2.1 Forecast for dividends for the fiscal year ending March 2021
Dividend per share
1st quarter2nd quarter3rd quarter
Previous forecast
Revised forecast
Actual payments(Ref.) Actual payments
of previous fiscal year
(Ended March 2020)

-

Yen-

-

Yen

28.00

-

72.00

-

Yen

Year-end-

Yen

28.00
28.00

Total-

Yen

56.00
100.002.2 Reason for the announcement
The Company regards shareholder interests as an important management priority and applies a
performance-linked approach based on continuous and stable dividend payment, by considering the businessperformance of each fiscal year, investment plans, and the business environment.
As for the forecast for dividends for the fiscal year ending March 2021, we announce the per-share
dividend for the full fiscal year comes to 56 yen, including the interim dividend of 28 yen and the year-end
dividend of 28 yen, which is the level we came to after comprehensively assessing the situation including
the uncertain business environment led by the ongoing global pandemic of Covid-19, our future needs offunds, and the consolidated financial forecast for the fiscal year ending March 2021.

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 varymaterially.