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MAZDA REPORTS FINANCIAL RESULTS FOR FISCAL 1992

 MAZDA REPORTS FINANCIAL RESULTS FOR FISCAL 1992
 FLAT ROCK, Mich., May 22 /PRNewswire/ -- Mazda Motor Corporation,


based in Hiroshima, Japan, today announced its financial results for its 1992 fiscal year, which ended March 31, 1992.
 Net sales increased 3.5 percent to $17.34 billion (Y2,304,110 million) (1) for FY 1992 compared to FY 1991 (April 1, 1990 through March 31, 1991).
 Of the total net sales, overseas sales accounted for $10.11 billion (Y1,343,340 million) while Japanese market sales accounted for $7.23 billion (Y960,769 million). Mazda's overseas and domestic sales increased 3.7 percent and 3.3 percent, respectively. In addition to vehicles, net sales include parts and components for overseas production and repair parts.
 Ordinary income -- income before taxes and extraordinary items -- was $148.1 million (Y19,673 million), a 60-percent decrease from the prior fiscal year. Net after-tax income totaled $69.8 million (Y9,273 million), down 65.7 percent from FY 1991.
 Net income per share was $0.1 (Y8.61).
 The company said the business environment in Japan was difficult for automotive manufacturers due primarily to decreased demand for subcompact and micro-mini cars. This was offset in part by strongly increased demand for mid-size cars in Japan.
 Overseas shipments from Japanese automotive manufacturers were affected by weak market demand in the United States, Europe and Southeast Asia, due in part to the increased level of local production in those areas. Demand in the Canadian, Middle Eastern and Central and South American markets increased significantly.
 In the difficult business environment in Japan and its major overseas markets, Mazda made efforts to enhance its product lineup with the introduction of many new, upscale models, while strengthening its sales and service operations in both domestic and overseas markets. While these new model introductions and marketing efforts contributed to increases in Mazda's net sales over the previous year, they led to the sharp decline in net after-tax income from the previous fiscal period. Income was affected by increases in fixed costs, including depreciation expenses and labor costs, in sales operational costs, as well as the appreciation of the yen exchange rate against foreign currencies, including the U.S. dollar.
 Mazda's worldwide factory unit sales (2) for FY 1992 were 1,409,265 units, down 3.2 percent from a year earlier. This represents 1,093,679 passenger cars, down 2.9 percent and 315,586 commercial vehicles, down 4.2 percent.
 Factory sales (2) in Japan totaled 549,627 units, down 8.3 percent. Passenger cars totaled 403,380 units, down 8.7 percent, while commercial vehicle sales were 146,247 units, down 7.2 percent.
 In Mazda's overseas markets, factory sales totaled 859,638 units, up 0.4 percent. Passenger car sales were 690,299 units, up 0.9 percent, while commercial vehicle sales totaled 169,339 units, a 1.5-percent decrease.
 Mazda's total vehicle sales increased 6 percent to $12.44 billion (Y1,652,550 million) while the shipment of parts and components for overseas production decreased 26.5 percent to $994.9 million (Y132,171 million).
 During FY 1992, Mazda issued Euro-yen straight bonds totaling Y40 billion in November to raise funds for facility investment.
 "The operating environment is expected to remain challenging in the current fiscal year," Yoshihiro Wada, president of Mazda Motor Corporation, said. He added, "Under such circumstances, we are going to intensify our efforts to enhance overall operation efficiency and cost reduction, while continuing to strengthen our sales and service operations."
 Wada said that, although the financial results for fiscal 1992 ended unfavorably, Mazda built a strengthened business foundation during the period that has the potential to open new avenues and promote progress in the future. He noted that the company also opened a new production facility at the Hofu plant in Japan for the creation of upscale, high- quality vehicles which will be competitive in international markets.
 NOTES:
 (1) -- Dollar equivalent computed at 132.85 yen to the dollar (exchange rate prevailing on March 31, 1992).
 (2) -- Factory unit sales includes imports.
 -0- 5/22/92
 /CONTACT: Al Goldberg of Mazda Information Bureau, 213-936-3114 or 800-248-0459 (in California, 800-346-2286)/ CO: Mazda ST: Michigan IN: AUT SU: ERN


JB -- DE010 -- 3268 05/22/92 11:30 EDT
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Date:May 22, 1992
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