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Mazda ups FY 2013 group net profit forecast to record 110 bil. yen

February 5, 2014

TOKYO , Feb. 5 -- ( Kyodo ) _ Mazda Motor Corp. raised Wednesday its fiscal 2013 group net profit estimate to a record 110 billion yen from an earlier forecast of 100 billion yen , citing the favorable impact of the yen's depreciation and robust sales of vehicles equipped with its Skyactiv fuel-efficient technology. The company also revised up its full-year operating profit outlook to a record 180 billion yen from the previously projected 160 billion yen on sales of 2.68 trillion yen , up from 2.65 trillion yen announced in October. Thanks to the robust earnings, the company now plans to resume dividend payment of 1 yen per share for the first time since fiscal 2009 ended March 2010 . The company's global sales rose 7 percent in the April-December period to 953,000 units, helped by brisk demand of the CX-5 and Atenza, it said. President Masamichi Kogai said at a press conference in Tokyo , however, that the company slashed the full-year global sales outlook by 10,000 units from the previous announcement in October amid sluggish sales in Thailand due to the recent political turmoil and the ending in 2012 of the government incentive for first-time car buyers. For the first nine months of fiscal 2013, the company's group net profit more than tripled from a year before to a record 77.42 billion yen , boosted in part by the introduction of new models such as the Axella and the company's cost-cutting efforts. Its operating profit in the period soared more than six-fold to 124.60 billion yen on sales of 1.94 trillion yen , up 26.4 percent.

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Source: Japan Economic Newswire

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