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Mazda Reports First Quarter Financial Results for Fiscal Year 2007
- FY2007 full-year forecast on track -
FY2007 First Quarter Highlights
- Consolidated sales revenue increases by 11 percent year-on-year to 814.3 billion yen
- Consolidated operating profit up 9 percent year-on-year to 32.3 billion yen
- Investment for the future steadily increasing
Mazda Motor Corporation today reported its financial results for the first quarter (April to June) of fiscal year (FY) 2007.
Mazda’s first quarter consolidated sales revenue increased by 11 percent year-on-year to 814.3 billion yen and consolidated operating profit increased by 9 percent to 32.3 billion yen. Favorable exchange rates contributed to the higher revenue. Consolidated operating profit rose from the effects of a weaker yen and successful cost cutting initiatives although these were partially offset by greater investment in R&D and higher depreciation costs. Consolidated ordinary profit fell 12 percent to 21.2 billion yen resulting primarily from forward exchange contract accounting effects caused by the depreciating yen. Consolidated net income was down 62 percent to 2.5 billion yen. Although ordinary profit and net income were down year-on-year, both figures are within planning assumptions and were budgeted at the beginning of the financial year.
Mazda’s first quarter consolidated global retail volumes were down one percent to 323,000 units compared with the same period in FY2006.
On a geographic basis, retail sales volumes in North America* reached 108,000 units, a 6 percent increase year-on-year, due mainly to the sales growth in Canada and Mexico. Retail sales in Europe progressed at a similar rate to last year -- when Mazda surpassed 300,000 unit sales for the first time in the 15 years since 1991 -- to reach 78,000 units. Mazda retail sales in Japan were down 7 percent, to 57,000 units, as a result of the drop in demand for registered vehicles. In China, local production of Mazda brand vehicles in Hainan Province ceased, resulting in a 44 percent decrease in sales of Mazda brand vehicles to 16,000 units. However, excluding the volume of Hainan-produced vehicles, Mazda3 sales pushed the retail volume up in China by 26 percent compared to the prior fiscal year. In other markets, the retail volume grew 15 percent to 64,000 units, with strong contributions from healthy sales of the CX-7, BT-50 and Mazda3.
Financial Projections for FY2007
Mazda’s financial forecasts for the full fiscal year remain unchanged. As announced on April 27, 2007, Mazda is forecasting a global retail volume of 1.35 million units in FY2007, a 4 percent increase over FY2006. Consolidated sales revenue is projected to increase by 2 percent to 3,320.0 billion yen. The outlook for consolidated operating profit is for an increase to 160.0 billion yen, up by one percent, and consolidated net income is forecast to increase by 15 percent to reach 85.0 billion yen.
Mazda Representative Director, Senior Managing Executive Officer and CFO, David E. Friedman, said, “Going forward, we are aiming for steady growth. During the first quarter under the Mazda Advancement Plan, sales in North America and Europe continued to be brisk. Following the successful launch of the all-new Mazda2 in Japan, we will be rolling out this exciting new car in Europe and other regions within this fiscal year. Our increased investment for the future and inventory streamlining initiatives are also progressing according to plan.”
* Mazda’s figures for North America include Mexico and Puerto Rico
FY2007 First Quarter Highlights
- Consolidated sales revenue increases by 11 percent year-on-year to 814.3 billion yen
- Consolidated operating profit up 9 percent year-on-year to 32.3 billion yen
- Investment for the future steadily increasing
Mazda Motor Corporation today reported its financial results for the first quarter (April to June) of fiscal year (FY) 2007.
Mazda’s first quarter consolidated sales revenue increased by 11 percent year-on-year to 814.3 billion yen and consolidated operating profit increased by 9 percent to 32.3 billion yen. Favorable exchange rates contributed to the higher revenue. Consolidated operating profit rose from the effects of a weaker yen and successful cost cutting initiatives although these were partially offset by greater investment in R&D and higher depreciation costs. Consolidated ordinary profit fell 12 percent to 21.2 billion yen resulting primarily from forward exchange contract accounting effects caused by the depreciating yen. Consolidated net income was down 62 percent to 2.5 billion yen. Although ordinary profit and net income were down year-on-year, both figures are within planning assumptions and were budgeted at the beginning of the financial year.
Mazda’s first quarter consolidated global retail volumes were down one percent to 323,000 units compared with the same period in FY2006.
On a geographic basis, retail sales volumes in North America* reached 108,000 units, a 6 percent increase year-on-year, due mainly to the sales growth in Canada and Mexico. Retail sales in Europe progressed at a similar rate to last year -- when Mazda surpassed 300,000 unit sales for the first time in the 15 years since 1991 -- to reach 78,000 units. Mazda retail sales in Japan were down 7 percent, to 57,000 units, as a result of the drop in demand for registered vehicles. In China, local production of Mazda brand vehicles in Hainan Province ceased, resulting in a 44 percent decrease in sales of Mazda brand vehicles to 16,000 units. However, excluding the volume of Hainan-produced vehicles, Mazda3 sales pushed the retail volume up in China by 26 percent compared to the prior fiscal year. In other markets, the retail volume grew 15 percent to 64,000 units, with strong contributions from healthy sales of the CX-7, BT-50 and Mazda3.
Financial Projections for FY2007
Mazda’s financial forecasts for the full fiscal year remain unchanged. As announced on April 27, 2007, Mazda is forecasting a global retail volume of 1.35 million units in FY2007, a 4 percent increase over FY2006. Consolidated sales revenue is projected to increase by 2 percent to 3,320.0 billion yen. The outlook for consolidated operating profit is for an increase to 160.0 billion yen, up by one percent, and consolidated net income is forecast to increase by 15 percent to reach 85.0 billion yen.
Mazda Representative Director, Senior Managing Executive Officer and CFO, David E. Friedman, said, “Going forward, we are aiming for steady growth. During the first quarter under the Mazda Advancement Plan, sales in North America and Europe continued to be brisk. Following the successful launch of the all-new Mazda2 in Japan, we will be rolling out this exciting new car in Europe and other regions within this fiscal year. Our increased investment for the future and inventory streamlining initiatives are also progressing according to plan.”
* Mazda’s figures for North America include Mexico and Puerto Rico
Mazda to Deliver Rotary Hydrogen Vehicle to Japan's METI
Mazda Motor Corporation has announced that the company is to deliver one dual-fueled RX-8 Hydrogen Rotary Engine (RE) vehicle to Japan’s Ministry of Economy, Trade, and Industry (METI) on August 1, 2007. The dual-fuel system enables the driver to select either gasoline or hydrogen fuel with the flick of a switch. METI will use the RX-8 Hydrogen RE in its daily operations. The delivery to METI will mark the eighth hydrogen rotary engine vehicle to be leased to government bodies and private enterprises and the first time that Japan’s central government has adopted a hydrogen vehicle for its daily operations.
Mazda RX-8 Hydrogen RE
Seita Kanai, Mazda’s Senior Managing Executive Officer in charge of R&D, said, “Based on Mazda’s unique hydrogen technology, we have been advancing research and development of hydrogen vehicles for over 15 years as part of our initiatives for a future hydrogen society. We are extremely pleased to be delivering this RX-8 Hydrogen RE to METI. Hydrogen rotary engines demonstrate the still untapped potential of internal combustion. Going forward, we will continue to develop vehicles for hydrogen rotary engines and improve their performance in order to contribute to the realization of an eco-friendly, hydrogen-based society.”
Mazda has been developing the hydrogen rotary engine since 1991. By burning hydrogen, the engine produces only trace amounts of carbon dioxide, one of the primary causes of global warming. Mazda conducted public road testing of the Mazda RX-8 Hydrogen RE in 2004. In February 2006, Mazda received approval from Japan’s Ministry of Land Infrastructure and Transport (MLIT) and became the first company in the world to commercially lease hydrogen powered rotary engine vehicles. The vehicles delivered to date have been showcased at public events and used in daily operations. Mazda’s RX-8 Hydrogen RE has been praised for the outstanding convenience of its dual-fuel system and for its balance between eco-friendliness and exhilarating performance that only an internal combustion engine can provide.
Mazda RX-8 Hydrogen RE
Seita Kanai, Mazda’s Senior Managing Executive Officer in charge of R&D, said, “Based on Mazda’s unique hydrogen technology, we have been advancing research and development of hydrogen vehicles for over 15 years as part of our initiatives for a future hydrogen society. We are extremely pleased to be delivering this RX-8 Hydrogen RE to METI. Hydrogen rotary engines demonstrate the still untapped potential of internal combustion. Going forward, we will continue to develop vehicles for hydrogen rotary engines and improve their performance in order to contribute to the realization of an eco-friendly, hydrogen-based society.”
Mazda has been developing the hydrogen rotary engine since 1991. By burning hydrogen, the engine produces only trace amounts of carbon dioxide, one of the primary causes of global warming. Mazda conducted public road testing of the Mazda RX-8 Hydrogen RE in 2004. In February 2006, Mazda received approval from Japan’s Ministry of Land Infrastructure and Transport (MLIT) and became the first company in the world to commercially lease hydrogen powered rotary engine vehicles. The vehicles delivered to date have been showcased at public events and used in daily operations. Mazda’s RX-8 Hydrogen RE has been praised for the outstanding convenience of its dual-fuel system and for its balance between eco-friendliness and exhilarating performance that only an internal combustion engine can provide.
Mazda Releases Upgraded Scrum Wagon and Scrum Van Micro-Minis
- Both models feature enhanced interior quality with improved comfort levels -
Mazda Motor Corporation has upgraded the “Scrum Wagon” and “Scrum Van” micro-mini vehicle lineup for the Japanese market. Both vehicles are available at Mazda Autozam, Mazda, and Mazda Anfini dealers throughout Japan from today.
The upgraded Scrum Wagon comes with new interior fabric colors designed to match the characteristics of each model grade and front seats with thicker, contoured seat edges that enhance the vehicle’s level of quality and comfort for passengers. The top grade model, PZ Turbo, is now equipped with a redesigned chrome front grille and high intensity discharge headlights which give it a distinctive appearance.
The revamped Scrum Van, which is renowned for its superb level of practicality, also comes with thicker, contoured seat edges in the front seats which provide added quality and comfort. In addition, the application of fabric seat covers has been extended from the top grade to include the middle grades.
Manufacturer’s suggested retail prices range from 1,224,250 to 1,711,500 yen for the Scrum Wagon and 879,900 to 1,165,500 yen for the Scrum Van (including consumption tax). The target sales volume for both body types is 800 units a month.
Mazda Scrum Wagon PZ Turbo (Equipped with Special Package. FWD model with a four-speed automatic transmission)
Features of the upgraded Scrum Wagon
Interior
- New seat upholstery for all model grades
The PX and PX Turbo grades have relaxing brown seat fabric and door trim. The PZ Turbo grade has sporty-looking beige seat fabric.
- More comfortable front seats on all model grades.
- A center speaker has been added to the middle of the instrument panel (PZ Turbo)
Exterior
- Newly designed front grille (PZ Turbo)
- High intensity discharge headlights have been added to the PZ Turbo grade
- Newly designed 14-inch chrome wheels (PZ Turbo Special Package)
- Chrome garnish on the hood feature has been added to the PX and PX Turbo grades
Body colors
A popular purple-hued body color, Mysterious Violet Pearl, has been newly added. A total of four body colors are available.
Features of the revamped Scrum Van
Interior
- New seat upholstery (Buster and PC grades)
The Buster grade has calming brown fabric (the same fabric in the Scrum Wagon PX and PX Turbo). The PC grade has grey seat fabric.
- Redesigned front seats
- Side covers have been added in the rear (PC, PA and PU grades. Side covers are already equipped on the Buster grade.)
Body colors
An exclusive dark blue body color has been added for the Buster grade, Bluish Black Pearl 3. There are a total of three body color choices.
Manufacturer’s Suggested Retail Prices
Scrum Wagon 1,244,250 - 1,638,000
Scrum Van 879,900 - 1,189,650
Mazda Motor Corporation has upgraded the “Scrum Wagon” and “Scrum Van” micro-mini vehicle lineup for the Japanese market. Both vehicles are available at Mazda Autozam, Mazda, and Mazda Anfini dealers throughout Japan from today.
The upgraded Scrum Wagon comes with new interior fabric colors designed to match the characteristics of each model grade and front seats with thicker, contoured seat edges that enhance the vehicle’s level of quality and comfort for passengers. The top grade model, PZ Turbo, is now equipped with a redesigned chrome front grille and high intensity discharge headlights which give it a distinctive appearance.
The revamped Scrum Van, which is renowned for its superb level of practicality, also comes with thicker, contoured seat edges in the front seats which provide added quality and comfort. In addition, the application of fabric seat covers has been extended from the top grade to include the middle grades.
Manufacturer’s suggested retail prices range from 1,224,250 to 1,711,500 yen for the Scrum Wagon and 879,900 to 1,165,500 yen for the Scrum Van (including consumption tax). The target sales volume for both body types is 800 units a month.
Mazda Scrum Wagon PZ Turbo (Equipped with Special Package. FWD model with a four-speed automatic transmission)
Features of the upgraded Scrum Wagon
Interior
- New seat upholstery for all model grades
The PX and PX Turbo grades have relaxing brown seat fabric and door trim. The PZ Turbo grade has sporty-looking beige seat fabric.
- More comfortable front seats on all model grades.
- A center speaker has been added to the middle of the instrument panel (PZ Turbo)
Exterior
- Newly designed front grille (PZ Turbo)
- High intensity discharge headlights have been added to the PZ Turbo grade
- Newly designed 14-inch chrome wheels (PZ Turbo Special Package)
- Chrome garnish on the hood feature has been added to the PX and PX Turbo grades
Body colors
A popular purple-hued body color, Mysterious Violet Pearl, has been newly added. A total of four body colors are available.
Features of the revamped Scrum Van
Interior
- New seat upholstery (Buster and PC grades)
The Buster grade has calming brown fabric (the same fabric in the Scrum Wagon PX and PX Turbo). The PC grade has grey seat fabric.
- Redesigned front seats
- Side covers have been added in the rear (PC, PA and PU grades. Side covers are already equipped on the Buster grade.)
Body colors
An exclusive dark blue body color has been added for the Buster grade, Bluish Black Pearl 3. There are a total of three body color choices.
Manufacturer’s Suggested Retail Prices
Scrum Wagon 1,244,250 - 1,638,000
Scrum Van 879,900 - 1,189,650
Mazda Production and Sales Results for June 2007 and for January through June 2007 (Flash Report)
Mazda Motor Corporation’s production and sales results for June 2007 and for January through June 2007 are summarized below.
I. Production
1. Domestic Production
(1) June 2007
The domestic production volume for June 2007 fell below the figure for the same month last year, down 3.3% compared to June 2006. This decrease was mainly due to reduced production volumes of commercial vehicles and the Mazda6, despite healthy production of the Mazda3.
[Domestic production of key models in June 2007]
Mazda3 : 36,954 units (up 25.6% year-on-year)
Mazda6 : 9,475 units (down 35.2% year-on-year)
(2) January through June 2007
The domestic production volume for the period January through June was below the figure for the same period in 2006, down 0.2% year-on-year overall, mainly due to reduced production of commercial vehicles. Domestic production of passenger vehicles over the same period increased year-on-year, led by healthy Mazda3 production and added CX-9 production.
[Domestic production of key models in the period from January through June 2007]
Mazda3 : 208,895 units (up 16.6% year-on-year)
CX-9 : 16,700 units
2. Overseas production
(1) June 2007
The overseas production volume was below the figure for the same month last year, down 31.9% on June 2006. Reduced production of the Mazda6 and Mazda2, among other models, led to the result, despite increased production of the Mazda3.
[Overseas production of key models in June 2007]
Mazda3 : 2,329 units (up 181.6% year-on-year)
Mazda6 : 7,468 units (down 24.6% year-on-year)
Mazda2 : 1,448 units (down 44.6% year-on-year)
(2) January through June 2007
Overseas production for the period January through June 2007 was below the figure for the same period last year, down 18.7% year-on-year. Reduced production of the Mazda6 and Mazda2, among other models, led to the result, despite increased production of the Mazda3.
[Overseas production of key models in the period from January through June 2007]
Mazda3 : 17,149 units (up 152.1% year-on-year)
Mazda6 : 54,994 units (down 20.9% year-on-year)
Mazda2 : 14,235 units (down 9.7% year-on-year)
II. Domestic sales
(1) June 2007
Domestic sales of the MX-5 were healthy. However, June domestic sales were 11.1% below last year’s result due to a decrease in sales of commercial vehicles and the Mazda MPV. Mazda’s registered vehicle market share was 5.5%, down 0.2 points over the same month last year, with a 2.9% market share of the micro-mini segment (up 0.2 points) and a 4.6% total market share (down 0.1 points over June 2006).
[Domestic sales of key models in June 2007]
MX-5 : 449 units (up 63.9% year-on-year)
MPV : 1,675 units (down 45.0% year-on-year)
(2) January through June 2007
The domestic sales volume for the period January through June 2007 was below the figure for the same period last year, down 9.4% year-on-year. Decreased sales of commercial vehicles and the Mazda6, among other models, led to the result, despite added CX-7 sales and brisk sales of the Mazda3 and Verisa.
Mazda’s registered vehicle market share was 5.9%, down 0.1 points from last year, with a 2.9% share of the micro-mini segment (up 0.1 points) and a 4.8% total market share (down 0.1 points year-on-year).
[Domestic sales of key models for the period from January through June 2007]
Mazda3 : 12,949 units (up 14.6% year-on-year)
Verisa : 7,447 units (up 19.1% year0on0year)
CX-7 : 3,424 units
Mazda6 : 4,503 units (down 38.1% year-on-year)
III. Exports
(1) June 2007
June 2007 exports exceeded the figure for the same month last year, up 0.9% year-on-year, mainly due to an increased export volume of the Mazda3.
On a market basis, exports to North America were particularly healthy, reaching 23,416 units (up 29.4% year-on-year) mainly due to an increased export volume of the Mazda3.
[Exports of key models in June 2007]
Mazda3 : 33,988 units (up 33.3% year-on-year)
(2) January through June 2007
Exports for the period January through June exceeded the figure for the same period last year by 10.0%, mainly due to increased Mazda3 exports and added CX-9 exports.
On a market basis, added CX-9 exports and increased exports of the Mazda3 helped the figure for North America reach 146,423 units (up 12.4% year-on-year).
[Exports of key models for the period from January through June 2007]
Mazda3 : 199,471 units (up 19.2% year-on-year)
CX-9 : 16,953 units
I. Production
1. Domestic Production
(1) June 2007
The domestic production volume for June 2007 fell below the figure for the same month last year, down 3.3% compared to June 2006. This decrease was mainly due to reduced production volumes of commercial vehicles and the Mazda6, despite healthy production of the Mazda3.
[Domestic production of key models in June 2007]
Mazda3 : 36,954 units (up 25.6% year-on-year)
Mazda6 : 9,475 units (down 35.2% year-on-year)
(2) January through June 2007
The domestic production volume for the period January through June was below the figure for the same period in 2006, down 0.2% year-on-year overall, mainly due to reduced production of commercial vehicles. Domestic production of passenger vehicles over the same period increased year-on-year, led by healthy Mazda3 production and added CX-9 production.
[Domestic production of key models in the period from January through June 2007]
Mazda3 : 208,895 units (up 16.6% year-on-year)
CX-9 : 16,700 units
2. Overseas production
(1) June 2007
The overseas production volume was below the figure for the same month last year, down 31.9% on June 2006. Reduced production of the Mazda6 and Mazda2, among other models, led to the result, despite increased production of the Mazda3.
[Overseas production of key models in June 2007]
Mazda3 : 2,329 units (up 181.6% year-on-year)
Mazda6 : 7,468 units (down 24.6% year-on-year)
Mazda2 : 1,448 units (down 44.6% year-on-year)
(2) January through June 2007
Overseas production for the period January through June 2007 was below the figure for the same period last year, down 18.7% year-on-year. Reduced production of the Mazda6 and Mazda2, among other models, led to the result, despite increased production of the Mazda3.
[Overseas production of key models in the period from January through June 2007]
Mazda3 : 17,149 units (up 152.1% year-on-year)
Mazda6 : 54,994 units (down 20.9% year-on-year)
Mazda2 : 14,235 units (down 9.7% year-on-year)
II. Domestic sales
(1) June 2007
Domestic sales of the MX-5 were healthy. However, June domestic sales were 11.1% below last year’s result due to a decrease in sales of commercial vehicles and the Mazda MPV. Mazda’s registered vehicle market share was 5.5%, down 0.2 points over the same month last year, with a 2.9% market share of the micro-mini segment (up 0.2 points) and a 4.6% total market share (down 0.1 points over June 2006).
[Domestic sales of key models in June 2007]
MX-5 : 449 units (up 63.9% year-on-year)
MPV : 1,675 units (down 45.0% year-on-year)
(2) January through June 2007
The domestic sales volume for the period January through June 2007 was below the figure for the same period last year, down 9.4% year-on-year. Decreased sales of commercial vehicles and the Mazda6, among other models, led to the result, despite added CX-7 sales and brisk sales of the Mazda3 and Verisa.
Mazda’s registered vehicle market share was 5.9%, down 0.1 points from last year, with a 2.9% share of the micro-mini segment (up 0.1 points) and a 4.8% total market share (down 0.1 points year-on-year).
[Domestic sales of key models for the period from January through June 2007]
Mazda3 : 12,949 units (up 14.6% year-on-year)
Verisa : 7,447 units (up 19.1% year0on0year)
CX-7 : 3,424 units
Mazda6 : 4,503 units (down 38.1% year-on-year)
III. Exports
(1) June 2007
June 2007 exports exceeded the figure for the same month last year, up 0.9% year-on-year, mainly due to an increased export volume of the Mazda3.
On a market basis, exports to North America were particularly healthy, reaching 23,416 units (up 29.4% year-on-year) mainly due to an increased export volume of the Mazda3.
[Exports of key models in June 2007]
Mazda3 : 33,988 units (up 33.3% year-on-year)
(2) January through June 2007
Exports for the period January through June exceeded the figure for the same period last year by 10.0%, mainly due to increased Mazda3 exports and added CX-9 exports.
On a market basis, added CX-9 exports and increased exports of the Mazda3 helped the figure for North America reach 146,423 units (up 12.4% year-on-year).
[Exports of key models for the period from January through June 2007]
Mazda3 : 199,471 units (up 19.2% year-on-year)
CX-9 : 16,953 units