Mazda likely to post huge jump in first-quarter operating profit: Nikkei
TOKYO (Reuters) - Mazda Motor Corp (7261.T) is likely to see its April-June operating profit rise 20 times from a year ago to around 35 billion yen ($357 million), helped by a weakening in the yen and strong sales of new models, the Nikkei business daily reported on Monday.
Mazda, which in the first six months of 2013 produced more than three-quarters of its vehicles in Japan and exported more than 80 percent of them, is the most reliant of Japan automakers on exports.
A weaker yen increases the value of earnings garnered abroad when they are repatriated and makes exports more profitable.
Japan's fifth-biggest automaker is scheduled to announce first quarter results on Wednesday.
Mazda spokeswoman Misato Kobayashi declined to comment on the report, saying only that the company had not made an announcement.
The company also saw strong sales of its CX-5 SUV and the Mazda6. These models have common parts and have helped the company's profitability improve, the Nikkei said without citing a source. ($1 = 98.1300 Japanese yen)
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- Suspect in Pennsylvania police ambush captured after seven-week manhunt |
- Global shares jump, yen slumps as BOJ cranks up stimulus |
- Oil price declines have small-cap shale investors scrambling
- Japan's central bank shocks markets with more easing as inflation slows