Fuji Heavy Industries Ltd. was chosen as the Most Improved Car Company for its Subaru marque at the 1999 FT Global Automotive Awards ceremony held on September 15, 1999 in Frankfurt, Germany. The awards are presented by FT Automotive World magazine, a publication of the U.K. newspaper Financial Times.

Selection for the Most Improved Car Company award was based on a positive turnaround in business performance and public perception, accompanied by evidence of the company's ability to sustain its improved financial performance. Subaru was selected over nominees such as Porsche and Jaguar.

The FT Global Automotive Awards are decided by a panel of seven judges, including three members of the Financial Times writing and editorial staff, a doctor from Cambridge University, a professor from Cardiff Business School, and an independent automotive analyst. The awards are presented to companies, individuals and organizations in recognition of superior accomplishments in a variety of automobile-related fields such as management, products, motor sports and marketing. Awards were given in a total of eleven categories, including automotive leadership, safety, environment, most effective marketing campaign, breakthrough product, technology and lifetime achievement.