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MAZDA MOTOR CORPORATION REPORTS NON-CONSOLIDATED SALES AND EARNINGS FOR FIRST HALF OF FISCAL 1993

 MAZDA MOTOR CORPORATION REPORTS NON-CONSOLIDATED SALES
 AND EARNINGS FOR FIRST HALF OF FISCAL 1993
 HIROSHIMA, Japan, Nov. 13 /PRNewswire/ -- Mazda Motor Corporation today announced ordinary income (income before taxes and extraordinary items) of $25.7 million (Y3,055 million) on net sales of $9.51 billion (Y1,129,564 million) (Note 1) for the first half of fiscal 1993, ended Sept. 30, 1992.
 Net sales for the six-month period (April 1, 1992 through Sept. 30, 1992) were up 2.4 percent from the same period last year. (April 1, 1991 through Sept. 30, 1991).
 The ordinary income for the six-month term decreased 72.7 percent from the same period last year. Net after-tax income totaled $5.2 million (Y621 million), a 85.4-percent decrease from the comparable six-month period last year.
 Net income per share was Y0.57, compared with Y3.88 a year ago.
 The financial results announced today were non-consolidated, meaning they do not include results or sales from Mazda's foreign subsidiaries.
 The results reflect a business environment in both domestic and overseas markets that was more difficult for Japanese automotive manufacturers than they had expected. This was due to sluggish sales in Japan as well as weak demand in the North American and European markets, the three major world markets.
 In this environment, Mazda made efforts to enhance its product lineup while strengthening its sales and service operations. Total factory unit sales during the first half of fiscal 1993 decreased, yet net sales showed an increase over the same period last year. Mazda's continued upscaling of its product line contributed to this increase.
 Yoshihiro Wada, president of Mazda Motor Corporation, commented on the results for the first half of fiscal 1993, saying, "During the period under review, we devoted ourselves to enhancing many new products which were introduced during fiscal 1992, and to strengthening the sales and service operations of five domestic sales channels which have established their fundamental structures. In addition, we have aggressively tried to research and develop new technologies and materials which will respond to social needs concerning the global environment and vehicle safety. However, due to the difficult market environment (evidenced by the sluggish automobile sales in Japan which decreased for two years in a row), the slow recovery of automobile demand in the U.S., and the depressed economy in major European countries, Mazda's total factory units sales in both Japan and overseas, decreased from the same period last year."
 He continued, "We cannot expect the business environment in both Japan and overseas to promptly change for the better during the second half of fiscal 1993. Therefore, we foresee the severe performance continuing in the second half of fiscal 1993. We at Mazda are going to intensify our vigorous efforts to review the product costs, strengthen the domestic sales and service operations and enhance overall operational efficiency and cost reduction.
 Mazda's total factory unit sales (Note 2) during the six-month interim term for fiscal 1993 amounted to 646,676 units, a decrease of 6.1 percent from the previous corresponding term. This total represents 513,982 passenger car units, down 1.9 percent, and 132,694 commercial vehicle units, down 19.7 percent.
 Unit sales decreased in both the Japanese domestic market and overseas markets. Mazda's factory sales in Japan were 250,730 units, reflecting a 10.1-percent decrease. Passenger cars totaled 194,968 units, a 5.1-percent decrease. Commercial vehicles totaled 55,762 units, showing a decrease at 24.3 percent.
 For overseas markets, Mazda's factory sales totaled 395,946 units, a 3.4-percent decrease. However, passenger car exports increased 0.2 percent, to 319,014 units. Commercial vehicle exports totaled 76,932 units, representing a 15.9-percent decrease.
 Breaking down the figures according to geographic region, Mazda shipments to the North America, European and Southeast Asian markets decreased because of weak demand. Another factor in the reduced exports to North America was increased manufacturing in the U.S. of Mazda-badged vehicles. On the other hand, shipments to Central and South America, the Middle East and Oceania increased due to strong demand.
 Factory sales of major export models were as follows:
 Mazda 121, 12,112 units; Mazda 323, 147,859 units; Mazda 626 and MX-6, 74,675 units; Mazda 929, 14,725 units; Mazda MX-5, 15,383 units; Mazda MX-3, 25,060 units; and Mazda RX-7, 6,949 units. B-series, 57,727 units; E-series, 13,133 units; and T-series, 6,053 units.
 As a result of this sales performance, total vehicle sales amounted to $6.73 billion (Y798,952 million), up 5.2 percent, while the shipment of parts and components for overseas production amounted to $777.8 million (Y92,397 million), up 18.2 percent.
 Overseas sales by Mazda Motor Corporation showed an increase in the six-month period of 6.6 percent, accounting for $5.7 billion (Y675,230 million). Japanese domestic sales decreased in the period by 3.2 percent, accounting for $3.82 billion (Y454,334 million). The total net sales of $9.51 billion (Y1,129,564 million), which increased 2.4 percent from the same term last year, includes parts and components for production overseas, as well as repair parts.
 NOTE:
 1. Dollar equivalent computed at 118.80 yen to the dollar (exchange rate prevailing on Sept. 30, 1992).
 2. Factory unit sales includes imports.
 -0- 11/13/92
 /CONTACT: Randy Boileau, 313-393-3315, or Al Goldberg, 213-936-3114, both of Mazda Information Bureau/ CO: Mazda Motor Corporation ST: Michigan IN: AUT SU: ERN


DH-ML -- DE004 -- 0575 11/13/92 09:49 EST
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