Mazda has posted train-wreck fiscal year 2011/12 results with an operating loss of JPY38.7bn (profit of JPY23.8bn the previous year) on sales of JPY2.03 trillion (JPY2.3 trillion).
The net loss worsened to JPY107.7bn from JPY60bn in the red the previous year.
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As new models like the just-launched CX-5 and redesigned 6 due out later this year kick in, the automaker is forecasting operting profit of JPY30bn for fiscal 2012/13 on sales of JPY2.2 trillion and a net profit of JPY10bn.
Mazda executives told a press conference in Tokyo the company had booked an operating profit of JPY15.6bn in the fourth quarter. It blamed the full year red ink on “deterioration of external environment including historical appreciation of the yen and other factors”.
Global unit sales were 1.25m. Mazda plans to sell 1.34m units in the current fiscal year and said it would probably increase capacity for the CX-5 as demand is likely to exceed the initially forecast 160,000 units.
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