OREANDA-NEWS. Fuji Heavy Industries Ltd. (FHI), the manufacturer of Subaru automobiles, announced its consolidated financial results for the first quarter of fiscal year ending March 31, 2015.

Subaru's Japan sales fell 33.2% from a year ago to 27,000 units due to the consumption tax hike, posting a decrease in both passenger car and mini car sales. Overseas sales rose 10.7% to 166,000 units led by North American sales growth of 6.4% to 123,000 units as the Forester maintained its momentum and the all-new WRX series got off to a strong start. In total, Subaru's global sales increased 1.3% to 194,000 units.

Due to the unit sales growth, foreign exchange gains and other factors, FHI's consolidated net sales rose 8.5% from a year earlier to 593.4 billion yen.

Net sales, overseas unit sales and global unit sales marked all-time records for the first quarter.

As increases in costs such as SG&A expenses associated with unit sales increase and R&D spending for future growth were covered by exchange rate gains, unit sales mix/volume improvements, cost reduction progress and other factors, operating income rose 13.0% to 78.7 billion yen and ordinary income grew 24.9% to 80.6 billion yen. Net income was up 7.8% to 52.2 billion yen.

Operating income, ordinary income and net income posted all-time records for the first quarter.