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Mazda Fiscal Year Sales Rise, But Profits Fall
Mazda Motor Corp. reports its net sales grew 12% to 3.4 trillion yen ($31 billion) in the fiscal year ended March 31.
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Mazda Motor Corp. reports its net sales grew 12% to 3.4 trillion yen ($31 billion) in the fiscal year ended March 31. Retail sales for the period climbed 10% to 1.53 million vehicles, thanks to gains in all major markets.
Operating income rose 12% to 227 billion yen ($2 billion). But the company’s net income fell 15% to 134 billion yen ($1.2 billion).
Mazda, citing an uncertain business environment and fluctuating exchange rates, predicts its retail sales will grow only 1% to 1.55 million vehicles in the current fiscal year that began on April 1.
The company also expects its operating income will drop 25% to 170 billion yen this year. It forecasts its net income will shrink 14% to 115 billion yen.
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