Mazda Reports Strong First Half Financial Results.Hiroshima, Japan, Nov 2, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Mazda Motor Corporation today announced that its fiscal year 2006 full-year forecast was being revised upwards based on record levels of consolidated revenue, operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. and ordinary profit that were reached in the first half of FY2006. Mazda's consolidated revenue increased 13 percent in the April-September period to 1.52 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. yen. In spite of in opposition to all efforts of; in defiance or contempt of; notwithstanding. See also: Spite a rapid rise in the cost of raw materials, consolidated operating profit rose 43 percent year-on-year to 69.8 billion yen, a 21 billion yen improvement, largely supported by an improved model mix and volume, favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. currency exchange rates and cost reductions. Ordinary profit increased by 31 percent to 56.6 billion yen compared to the same period last year. Net income was 27.2 billion yen, down 12 percent year-on-year, due to an extraordinary gain during the first half of the last fiscal year from the transfer of the substitutional sub·sti·tu·tion n. 1. a. The act or an instance of substituting. b. The state of being substituted. 2. One that is substituted; a replacement. portion of Mazda's employee pension fund liabilities to the Japanese government. Excluding the one-time impact of the gain from the pension fund transfer and impairment Impairment 1. A reduction in a company's stated capital. 2. The total capital that is less than the par value of the company's capital stock. Notes: 1. This is usually reduced because of poorly estimated losses or gains. 2. losses, net income was up 18 percent. On a geographic basis, despite steady micro-mini sales in Japan, Mazda's sales volume during the first half of FY2006 declined by 7 percent to 131,000 units, mainly due to diminished di·min·ish v. di·min·ished, di·min·ish·ing, di·min·ish·es v.tr. 1. a. To make smaller or less or to cause to appear so. b. demand for registered vehicles. In the US market, sales volumes increased 3 percent to 142,000 units, attributable to the newly-launched Mazda CX-7 and contributions from the Mazda5 and MX-5 models. Strong sales of the Mazda5 and MX-5 in Europe led to 151,000 units sold there during the April-September period, an increase of 10 percent year-on-year. Sales in China declined 8 percent to 62,000 units in the first half amid a very competitive sales environment. Overall, Mazda recorded 560,000 consolidated global wholesales for the first half of FY2006, up 1 percent over last year. Full-year Profit Projections for FY2006 revised upwards Mazda is now forecasting a rise of 3 percent in global wholesales to 1.18 million units in FY2006 following a downward revision since the last financial projections were released. Consolidated revenue is projected to increase by 8 percent year-on-year to 3.15 trillion yen, with full-year operating profit expected to rise 20 percent to 148 billion yen, and consolidated net income up 23 percent to 82 billion yen. Mazda Senior Managing Executive Officer and Chief Financial Officer David E. Friedman said, "We are pleased to report a one percent increase in Mazda's operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: in the first half, to 4.6 percent, reflecting the impact of an improved model mix in markets around the globe. Although we anticipate an even more competitive operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. in the second half, opportunities such as the launch of the Mazda CX-7 in Japan and the introduction of the CX-9 in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. will ensure our product-led growth continues on track as we execute the last phase of the Mazda Momentum plan." FY2006 Financial Projections
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Sales revenue: 3.15 trillion yen,
up 230.2 billion (8%) on FY2005
Operating profit: 148.0 billion yen,
up 24.6 billion yen (20%) on FY2005
Ordinary profit: 140.0 billion yen,
up 38.5 billion yen (38%) on FY2005
Net income: 82.0 billion yen,
up 15.3 billion yen (23%) on FY2005
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Dollar/Euro Equivalent: FY2006 Financial Results
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(Unit: millions)
Yen US$ Euro
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Revenue 1,521,400 12,904.2 10,154.9
Operating profit 69,800 592.0 465.9
Ordinary profit 56,600 480.1 377.8
Net income 27,200 230.7 181.6
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Notes: Financial results -Dollar equivalents compiled at 117.90 yen to the dollar (Exchange rate prevailing on Sept. 30, 2006). -Euro equivalents compiled at 149.82 yen to the Euro (Exchange rate prevailing on Sept. 30, 2006). About Mazda Motor Corporation Mazda Motor Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 7261) started manufacturing tools in 1929 and soon branched out into production of trucks for commercial use. In the early 1960s, Mazda launched its first passenger car models and began developing rotary engines rotary engine, internal-combustion engine whose cycle is similar to that of a piston engine, but which produces rotary motion directly without any conversion from reciprocating motion. . Still headquartered in Hiroshima in western Japan, Mazda today ranks as one of Japan's leading automakers, and exports cars to the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe for over 30 years. Overseas sales account for more than half of total turnover. Mazda has two main production sites in Japan and 19 overseas facilities. Overseas sites include joint ventures based in the United States, and in Thailand with Ford Motor Company, Mazda's largest shareholder. Source: Mazda Motor Corporation Contact: Mazda Motor Corporation Ms. Mayumi Handa handa.ma@tky.mazda.co.jp +81-82-282-1111 Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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