Mazda set to post 70% drop in Q1 operating profit - Nikkei

TOKYO, July 31 (Reuters) - Mazda Motor Corp saw a drop of around 70% in its first-quarter operating profit, as the Japanese automaker continues to struggle in the United States, its biggest market, the Nikkei business daily reported on Wednesday.

Japan’s No. 5 automaker is planning to report an operating profit of around 10 billion yen ($92.11 million) for the April-June quarter, the Nikkei said, down from 33.1 billion yen a year ago and lower than forecasts for 18.5 billion yen from analysts polled by Refinitiv.

Mazda is due to announce its first-quarter earnings on Thursday.

Such an operating profit would mark Mazda’s weakest first-quarter performance since the June 2012 quarter. ($1 = 108.5600 yen) (Reporting by Naomi Tajitsu; editing by Gopakumar Warrier)