Mazda posted JPY182.1 billion operating profit for 2013 fiscal year

Article by Andrew Christian, on April 28, 2014

Mazda Motor Corp. posted a record JPY182.1 billion in operating profit for its fiscal year ended March 2014, boosted by a weaker yen that rendered its exporting operations more profitable. That allowed Mazda to surpass its mid-term profit goal of JPY150 billion and is now expecting to log JPY230 billion ($2.3 billion) in operating profit by its fiscal year ending March 2016.

Mazda, however, trimmed its mid-term global sales target by 11 percent to 1.52 million vehicles. Mazda posted JPY36.6 billion ($358 million) in one-time extraordinary loss in the fiscal year ended in March, in provision for an anticipated loss in selling its 50 percent stake in a Mazda-Ford joint venture AutoAlliance International.

Mazda has announced that it agreed with Ford to commence decision to sell its stake in AutoAlliance, which operates assembly site in Flat Rock, Michigan. Mazda no longer builds vehicles at the site after stopping output of the Mazda6 at the facility in August 2012.

Ford still builds the Fusion mid-sized sedan and Mustang coupe at the AutoAlliance site. In January, Mazda commence operations of its Mexican assembly site, where it is producing the Mazda3 and the Mazda2.

Topics: mazda, profit

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