fuji heavy industries ltd (FUJHF) Snapshot

Fuji Heavy Industries Ltd. announced its consolidated financial results for the fiscal year ended March 31, 2013. For the year, the company’s global vehicle sales rose 13.2% from a year earlier to 724,000 units. Propelled by the strong vehicle sales, FHI's consolidated net sales grew 26.1% to JPY 1,913 billion. Operating income was up 173.9% to JPY 120.4 billion. Ordinary income grew 169.9% to JPY 100.6 billion. Net income rose 211.0% to JPY 119.6 billion. Capital expenditures were JPY 702 million against JPY 543 million a year ago. The company provided earnings guidance for the fiscal year 2014. For the fiscal year 2014, the company’s sales are projected to reach 752,000 units led by further growth in North America and other overseas markets. With the vehicle sales increase as well as yen's depreciation and expected progress on further cost reduction, FHI forecasts net sales of JPY 2,050 billion, operating income of JPY 180 billion, ordinary income of JPY 175 billion and net income of JPY 110 billion which will establish new all-time fiscal year records of company’s vehicle sales (overseas and global), net sales, operating income and ordinary income breaking the previous records of fiscal year 2012. Capital expenditures expected to be JPY 670 million.

Fuji Heavy Industries Ltd. provided dividend guidance for the year ending March 31, 2013. For the year, the company expects JPY 10 per share against JPY 5 per share a yea ago. As a result, the projected dividend per share for the full fiscal year ending March 31, 2013 will be increased by JPY 5.0 compared with the previous fiscal year to JPY 15.0.

Fuji Heavy Industries Ltd. announced US, Canada and Australia sales results for the fiscal ended March 2013. Subaru's U.S. sales in fiscal 2013 reached an all-time high with 348,400 units, breaking the previous record of 280,100 units established a year ago. The sales were propelled by the growth of major models including the all-new Impreza (up 51.1% to 61,508), the facelifted Legacy and Outback introduced with a new power train (up 4.6% to 46,338 and up 11.8% to 118,594, respectively), the Forester (up 10.0% to 80,617) and Subaru WRX (up 17.1% to 15,288) as well as the added volume of the Subaru XV (18,132 units) and Subaru BRZ (5,932 units) debuted in 2012. In Canada, Subaru sales for fiscal 2013 totaled 31,254 units surpassing the previous best record of 28,067 set two years ago. Strong demand for the all-new Impreza (up 29.4% to 8,165) and the introduction of the Subaru XV (3,252 units) in the popular small SUV segment contributed to the growth. U.S. March sales hit an all-time monthly high with 36,701 units (up 13.3%) beating the December 2012 record of 36,653 units. The sales rose with high demand for the Forester models driven by the just-launched all-new Forester as well as the added contribution by the Subaru XV. March sales in Canada were up 11.7% to 3,117 units which broke the previous best record of 3,035 units set in October 2012. The sales were led by the growth of Forester sales boosted by the just-launched all-new Forester and the continued high demand for the Subaru XV debuted last year. Subaru Australia achieved an all-time monthly sales record in March with 4,219 units (up 5.4%), surpassing the June 2008 record of 4,116 units. The Subaru XV led the sales with 1,567 units, up 56.4% from a year ago.