Mazda’s Net Income Quadruples

Mazda Motor Corp.'s net income surged to a record 136 billion yen ($1.3 billion) in the fiscal year ended March 31 from 34 billion yen in the previous 12-month period.

Annual net sales jumped 22% to 2.7 trillion yen ($26 billion). Global unit sales advanced 8% to 1.33 million units.

The company posted retail sales increases of 5% to 391,000 vehicles in North America, 13% to 244,000 vehicles in Japan, 21% to 207,000 units in Europe and 13% to 196,000 units in China.

For the full fiscal year, Mazda predicts its sales revenue will grow 8% to 2.9 billion yen, operating income will rise 15% to 210 billion yen and net income will climb 18% to 160 billion yen.