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MAZDA REPORTS FINANCIAL RESULTS FOR THE FIRST HALF OF FISCAL 1992

 MAZDA REPORTS FINANCIAL RESULTS FOR THE FIRST HALF OF FISCAL 1992
 FLAT ROCK, Mich., Nov. 20 /PRNewswire/ -- Mazda Motor Corporation (MC), headquartered in Japan, has announced its financial results for the first half of fiscal 1992, which ended Sept. 30, 1991.
 Net sales for the six-month term (April 1, 1991 through Sept. 30, 1991) totaled 1,102,838 million yen (US $8,301.4 million) (note 1), down 0.7 percent from the same period in fiscal 1991.
 Ordinary income -- income before taxes and extraordinary items -- was 11,175 million yen (US $84.1 million), down 53.0 percent. Net after-tax income totaled 4,259 million yen (US $32.1 million), a 60.6-percent decrease.
 Net income per share was 3.95 yen (US $0.03).
 In Japan, automotive sales were weak due to decreased demand in the generally slow economy. Monthly sales throughout most of the period were slower than in the previous year. Revisions made to Japan's Garage Law(a) in July, 1991, also affected sales results, especially of small and micro-mini cars. Vehicle exports by Japanese manufacturers continued to show a declining trend, especially to the U.S. and Oceanian markets.
 Mazda's total factory unit sales (note 2) during the six-month period were 688,951 units, a 5.7-percent decline from the year earlier. This total represents 523,806 passenger car units, down 7 percent, and 165,145 commercial vehicle units, down 1.3 percent.
 Mazda's factory sales in Japan were 279,028 units, reflecting a 10.4-percent decrease. Passenger cars totaled 205,357 units, an 11.6- percent decrease. The newly introduced Sentia, Presso and AZ-3 models generated new sales activity, while other models, such as the Autozam, Carol, Ford Festiva and Familia, were slow.
 Commercial vehicles totaled 73,671 units, showing a 6.9-percent decrease.
 For overseas markets, Mazda's factory sales totaled 409,923 units, a 2.2-percent decrease. Passenger car exports were 318,449 units, a decrease of 3.8 percent.
 Commercial vehicle exports totaled 91,474 units, representing a 3.8-percent increase, due mostly to demand for the B-series truck.
 Sales in the North American market showed a decline, due to overall decreased demand, although the newly introduced 929 and MX-3 models added to total sales. The European market was generally stable, showing a slight increase.
 The Oceanian market was sluggish, showing a decrease. In the Middle East, the B-series truck contributed to active performance.
 Total overseas vehicle sales were 759,622 million yen (US $5,717.9 million), down 1.5 percent while the shipment of parts and components for overseas production amounted to 78,195 million yen (US $588.6 million), down 19.4 percent.
 Mazda's net sales, including parts and components for production overseas as well as repair parts, were 1,102,838 million yen (US $8,301.4 million), down 0.7 percent. Out of the net sales, the Japanese domestic market accounted for 469,479 million yen (US $3,533.9 million), down 1.0 percent, while the overseas market sales accounted for 633,358 million yen (US $4,767.5 million), down 0.5 percent.
 "Even though the global economic picture is not very positive right now, we are preparing to implement a new product strategy aimed at securing our position as an internationally accepted auto maker," said Norimasa Furuta, the president of Mazda Motor Corporation. "The Sentia (929) and Presso/AZ-3 (MX-3) introduced to the domestic market in the first half of fiscal 1992 were just the beginning of our line-up initiative. We intend to introduce a variety of new models in the near future.
 "As a strong foundation for this product strategy, we are concentrating on enhancing our sales operations, based on improved customer satisfaction. We announced plans to establish second sales channels, to market luxury models, in North America and Australia. In the domestic market, we have been strengthening and defining our five sales channels including changing the name of Mazda Auto to Anfini and enhancing its distinctive identity. By these efforts, we hope to firmly establish ourselves as a globally recognized and respected auto maker."
 Notes:
 1. Dollar equivalent computed at 132.85 yen to the dollar (exchange rate prevailing on Sept. 30, 1991).
 2. Factory sales includes imports.
 (a) -- Japan's revised Garage Law requires car buyers in metropolitan areas to show proof of a reserved parking space, even for micro-mini cars, prior to purchase.
 -0- 11/20/91
 /CONTACT: Randy Boileau of Mazda Information Bureau, 313-393-3315/ CO: Mazda Motor Corporation ST: Michigan IN: AUT SU: ERN


KK-ML -- DE014 -- 5532 11/20/91 15:38 EST
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Date:Nov 20, 1991
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