SubaruSUBARU CORPORATION7270東証プライム輸送用機器FY ending Mar 2026, consolidated, IFRS

Subaru FY ending Mar 2026 results

About 97% of Subaru's sales come from Automobiles, with Aerospace and Other making up much of the rest.

Out of every ¥100 of sales, about ¥1 is left as operating profit.

Revenue changed +2.1% from the prior year, operating profit -90.1%.

Revenue and profit pattern

Revenue up, profit downRevenue grew faster

Revenue +2.1% · profit -90.1%, calculated from disclosed figures.

Operating leverage: -42.56× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue
+2.1%¥4.69T → ¥4.78T
Gross profit
-26.6%¥980.3B → ¥719.5B
Operating income
-90.1%¥405.3B → ¥40.1B
Net income attributable to owners
-73.1%¥338.1B → ¥90.8B
Operating cash flow
-27.2%¥492.1B → ¥358.2B
Free cash flow
-61.4%¥321.3B → ¥123.9B

Results at a glance

  • Revenue for the FY ending Mar 2026 was ¥4.78T, up 2.1% from ¥4.69T.
  • Operating income, however, dropped 90.1%, from ¥405.3B to ¥40.1B.
  • Net income attributable to owners fell 73.1% to ¥90.8B, and operating cash flow slipped 27.2% to ¥358.2B.

What drove the change

  • Fewer cars sold and a stronger yen held revenue back, but better pricing and model mix still lifted sales
  • Additional US tariffs cut deeply into profit in the automobile business
  • Subaru booked costs tied to environmental regulations, including losses on regulatory credits, along with EV-related expenses
  • A domestic production line was paused for work to build EVs in-house, which reduced output and shipments

Things to watch

  • Changes in US tariff policy could add duties on cars exported from Japan and on imported parts used at its US plant
  • A downturn or tougher price competition in North America, its largest market, would hit sales and profit
  • A stronger yen shrinks dollar-based revenue and profit when converted into yen

Annual Securities Report (95th term) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report (95th term) / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

For every ¥100 Subaru sells, how much goes where, and how much is kept.

FY ending Mar 2026
Cost of sales
¥85
SG&A
¥8
Other costs
¥6
Operating profit
¥1
Net profit kept
¥2

Annual margin trends

Gross margin15.0%
FY ending Mar 2021: 17.4%17.4%FY ending Mar 2022: 18.4%18.4%FY ending Mar 2023: 19.5%19.5%FY ending Mar 2024: 21.1%21.1%FY ending Mar 2025: 20.9%20.9%FY ending Mar 2026: 15.0%15.0%FY21FY22FY23FY24FY25FY26
Operating margin0.8%
FY ending Mar 2021: 3.6%3.6%FY ending Mar 2022: 3.3%3.3%FY ending Mar 2023: 7.1%7.1%FY ending Mar 2024: 10.0%10.0%FY ending Mar 2025: 8.6%8.6%FY ending Mar 2026: 0.8%0.8%FY21FY22FY23FY24FY25FY26
Net margin1.9%
FY ending Mar 2021: 2.7%2.7%FY ending Mar 2022: 2.6%2.6%FY ending Mar 2023: 5.3%5.3%FY ending Mar 2024: 8.2%8.2%FY ending Mar 2025: 7.2%7.2%FY ending Mar 2026: 1.9%1.9%FY21FY22FY23FY24FY25FY26

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (10)
  • EDINET (FSA Japan)

    有価証券報告書-第95期(2025/04/01-2026/03/31)

    ID S100YFKZ2026-06-22Open
  • EDINET (FSA Japan)

    有価証券報告書-第94期(2024/04/01-2025/03/31)

    ID S100W1AE2025-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第93期(2023/04/01-2024/03/31)

    ID S100TO9E2024-06-20Open
  • EDINET (FSA Japan)

    有価証券報告書-第92期(2022/04/01-2023/03/31)

    ID S100R15B2023-06-22Open
  • EDINET (FSA Japan)

    有価証券報告書-第91期(令和3年4月1日-令和4年3月31日)

    ID S100OB9K2022-06-23Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第90期(令和2年4月1日-令和3年3月31日)

    ID S100LW1Z2021-07-02Open
  • EDINET (FSA Japan)

    有価証券報告書-第89期(平成31年4月1日-令和2年3月31日)

    ID S100IWST2020-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第88期(平成30年4月1日-平成31年3月31日)

    ID S100G1EC2019-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第87期(平成29年4月1日-平成30年3月31日)

    ID S100DBN22018-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第86期(2016/04/01-2017/03/31)

    ID S100AM602017-06-26Open

Extracted from XBRL: 43 / Derived from other figures: 2

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