Latest news with #MazdaMotorCorp
The Mainichi
6 days ago
- Automotive
- The Mainichi
Tokyo stocks rise on solid earnings from Japanese companies
TOKYO (Kyodo) -- Tokyo stocks ended higher Wednesday, lifted by solid earnings reports from certain companies that helped ease concerns over the impact of higher U.S. tariffs. The 225-issue Nikkei Stock Average rose 245.32 points, or 0.60 percent, from Tuesday at 40,794.86. The broader Topix index finished 30.03 points, or 1.02 percent, higher at 2,966.57. On the top-tier Prime Market, the main gainers were real estate, construction and oil and coal product issues. The U.S. dollar briefly fell to the lower 147 yen range in Tokyo, as the yen, seen as a safe-haven asset, was bought amid lingering concern over a U.S. economic slowdown, dealers said. The Nikkei index was initially pressured by the selling of chip shares after U.S. President Donald Trump said he will announce a levy on semiconductors in the "next week or so." However, the market was lifted by the buying of shares in real estate firm Mitsui Fudosan and others after they released strong quarterly earnings. Export-oriented auto shares were also bought back after recent earnings reports showed the negative impact of higher U.S. tariffs on performance is unlikely to be significant. Some companies, however, such as Mazda Motor Corp. did revise downward their business forecast, brokers said. "Recent earnings have shown that the effects of (the tariffs) remain within the scope of expectations at least for now, helping the market emerge from its worse phase," said Makoto Sengoku, senior equity market analyst at Tokai Tokyo Intelligence Laboratory Co.
6 days ago
- Automotive
Mazda Swings to Net Loss in April-June
News from Japan Aug 6, 2025 12:15 (JST) Tokyo, Aug. 6 (Jiji Press)--Mazda Motor Corp. said Tuesday that it swung to a net loss in the April-June period, hit by U.S. President Donald Trump's steep tariffs and a stronger yen. The Japanese automaker posted a consolidated net loss of 42.1 billion yen for the three months, the first loss for the fiscal first quarter since 2020, during the COVID-19 pandemic. In the same quarter of 2024, the company reported a profit of 49.8 billion yen. The company posted an operating loss of 46.1 billion yen, compared with the year-before profit of 50.3 billion yen, as the tariffs cost it 69.7 billion yen. A 15 pct U.S. tariff on automobiles is an "extremely heavy burden on corporate finances," Mazda President and CEO Masahiro Moro told a press conference. The automaker's sales decreased 8.8 pct to 1,099.7 billion yen. [Copyright The Jiji Press, Ltd.] Jiji Press
The Mainichi
6 days ago
- Automotive
- The Mainichi
Mazda forecasts 82.5% drop in FY 2025 net profit on US tariffs
TOKYO (Kyodo) -- Mazda Motor Corp. said Tuesday it expects net profit for the current fiscal year to plunge 82.5 percent from a year earlier to 20 billion yen ($135.52 million), hit by tariffs imposed by U.S. President Donald Trump. The automaker said the tariffs are expected to slash its operating profit by 230 billion yen to 50 billion yen, a 73.1 percent drop from a year earlier, joining other Japanese manufacturers grappling with the impact. "It is an extremely large burden, realistically speaking," CEO Masahiro Moro said at a press conference in Hiroshima Prefecture, where the company is based. The automaker had withheld its earnings outlook until now due to Japan-U.S. tariff negotiations. An executive order by Trump calls for a so-called reciprocal tariff on Japanese goods to be set at 15 percent starting Thursday, though it remains unclear when tariffs on autos and auto parts, which are set to be cut to 15 percent, will take effect. He had earlier imposed a 25 percent levy on U.S.-bound cars in April, on top of an existing 2.5 percent duty. Mazda hopes to offset about 60 percent of the tariff impact, or 140 billion yen, by improving efficiency and increasing utilization at its factory in the U.S. state of Alabama. It forecasts sales of 4.9 trillion yen, down 2.4 percent, with unit sales in the United States expected to slip about 8 percent to 400,000 cars. For the April-June period, Mazda logged a net loss of 42.10 billion yen, reflecting its vulnerability to the U.S. tariffs due to its relatively high reliance on imports to the United States from Mexico and Japan.
Bloomberg
10-07-2025
- Automotive
- Bloomberg
Mazda's Top-Selling Model to Test Its Tariff Pain Tolerance
Mazda Motor Corp. is bringing a new version of its best-selling model to US showrooms — and it's coming all the way from Japan. The third-generation CX-5, which currently accounts for more than a third of the company's US sales, will boast a new 15.6-inch touchscreen display, more cargo space and a refreshed design meant to appeal to urban drivers who still want the grip and girth of an all-wheel drive SUV.
Time of India
10-05-2025
- Automotive
- Time of India
Japanese tech company Panasonic cuts 4% of its global workforce as profits falter
Panasonic will slash its global workforce by 10,000 people, half in Japan and half overseas, to become a more efficient, "lean" company, the Japanese manufacturer said Friday. The job cuts, amounting to about 4% of its 230,000 workers, will include early retirement offers in Japan and closures and consolidation of various operations, according to the Osaka-based maker of home appliances, such as washing machines and refrigerators. Panasonic also makes solar panels, delivery robots, facial recognition technology, fuel cells for homes and EV batteries for Tesla cars. Also Friday, Panasonic reported a 17.5% drop in profit for the fiscal year through March at 366 billion yen ($2.5 billion), down from 443 billion yen in the previous fiscal year. It sales totaled 8.46 trillion yen ($58 billion), down 0.5% year-on-year. The company said the slowing global economy and weaker demand for electric vehicles were a factor behind its weak results. But sales of air-conditioners and consumer electronics products held up in Japan, it said. The company's chief executive, Yuki Kusumi, told reporters his heart felt heavy in announcing the job cuts. Panasonic did not mention US President Donald Trump's tariff policies as a factor behind its drop in profit. Panasonic forecast that its profit will improve by at least 150 billion yen ($1 billion) by the fiscal year through March 2027, and by 300 billion yen ($2.1 billion) by the fiscal year through March 2029. That will be achieved through management reform, closure of unprofitable businesses and building a system that's more responsive to changes in the business environment, officials told reporters. But the turnaround will take time and profit will slip further in this fiscal year. For the fiscal year through March 2026, Panasonic is projecting a 310 billion yen ($2.1 billion) profit on 7.8 trillion yen ($54 billion) sales. Panasonic said it remains bullish about EV batteries and plans to supply Japanese automakers Mazda Motor Corp and Subaru Corp in new strategic partnerships.
