Mazda Motor Corp., which is held 13% by Ford Motor Co., posted its first quarterly profit in a year lifting its full-year guidance to call for a smaller operating loss. Mazda recorded better sales and currency rates than had been anticipated. While forecast for the October-March second half unchanged, Mazda has revised its first-half estimates earlier this month due to its announcement of a share sale of about $1 billion.

Currently, Mazda expects an operating loss of 12 billion yen ($133 million) for the year to March, a billion yen less than what was announced in early October. It sees a lower net loss of 17 billion yen, rather than 26 billion yen, on tax-related adjustments. For the July-September quarter, operating profit dropped 82 percent to 5.93 billion yen ($65 million). Net profit was 707 million yen, against a 14.5 billion yen profit last year, as revenue plunged 30 percent to 562.1 billion yen.

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