Mazda raises fiscal Q3 net income to $498 million

Article by Anita Panait, on February 8, 2014

Mazda Motor Corp. more than doubled its net income in its third fiscal quarter ended December to JPY52.4 billion ($498.0 million), thanks to stronger sales and a weaker yen. The carmaker logged a 34-percent surge in global revenue to JPY685.9 billion ($6.52 billion) in the quarter and a 15-percent jump in sales to 322,000 vehicles.

The export-dependent Mazda took advantage of the weakening yen, which hiked yen value of overseas earnings when sent back to Japan and renders Japanese exports more competitive internationally. Mazda is also gaining momentum on structural reforms implemented by its previous chief executive, Takashi Yamanouchi, including the rollout of a new drivetrain and manufacturing strategy.

Vehicles fitted with Mazda's Skyactiv engines and lightweight architecture return higher margins and account for 48 percent of the carmaker’s global product mix.

In the first nine months of the fiscal year, Mazda logged JPY97.0 billion ($921.9 million) in foreign exchange gain, one third of which were accounted for by effect of yen’s weakening against the dollar. The yen has depreciated by 24 percent against the dollar in the past year and by 26 percent against the euro.

With the current situation, Mazda is aiming to set record net and operating income in the current fiscal year ending March 31, 2014. The carmaker expects to post JPY110 billion ($1.05 billion) in net income in the current fiscal year ending March 31, 2014, from JPY34.3 billion ($326.0 million) a year ago.

The developers of the all-new Mazda 3 build on the strengths of the previous model to craft a new car that could interact with its owner on several levels. Just by looking at its exterior appearance, the new Mazda 3 already exudes high quality. Deep inside, the new Mazda 3 is an embodiment of performance, efficiency and functionality as well as safety and practicality. In this regard, the new Mazda 3 follow the track prints of other new generation models like the Mazda CX-5 compact SUV and the new Mazda 6.

Like the Mazda CX-5 and the Mazda 6, the new Mazda 3 benefits from the entire range of lightweight SKYACTIV Technology as packaged in a compact design influenced by the carmaker KODO theme.

This way, the new Mazda 6 doesn’t just capture the eyes, but also the senses, allowing it to forge a link with its owners. This link is further strengthened once customers get more familiar with their new car and find out that it delivers more than they expected. From the positioning of the controls to the way the door opens, the new Mazda 6 goes beyond.

Whether one is behind the wheels dictating the pace of the new car, or sitting comfortably on the front passenger seat or on the rear cabin, the new Mazda offers a more intimate relationship. In a sense, this allows people to be revitalized and be inspired to expand horizons further.

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