JAPAN: Earthquake costs Mazda huge net loss
Mazda Motor has said it incurred a consolidated net loss of JPY60.04bn in fiscal 2010 ended 31 March due to damage from the 11 March earthquake and tsunami and other factors.
The net loss was much larger than JPY6.48bn in group net loss logged the previous year, the automaker told Kyodo News.
But group operating profit jumped 152% year on year to JPY23.84bn on sales of JPY2.33 trillion, up 7.5%.
Mazda said it would skip a dividend payout for the year, although it paid a year-end dividend of JPY3 per share the previous year.
On earnings prospects for the current fiscal year that started this month, Mazda failed to release any estimates, saying it is difficult for it to calculate reasonable figures right now.