@
masa
Perhaps your subtitles are placed "off screen".
Try setting of subtitles position to "auto" (and e.g. change color)
Any result?
If not, check setting of "Subtitles disabled" (under "Options"/"Preferences"/"Subtitles") and setting of "Draw subtitles to Overlay surface" under "Options"/"Preferences"/"Video" and (also under "Video") perhaps try a different setting of overlay mode (mode 1 or no overlay).