Mazda net profit fell 81% last fiscal year

Mazda net profit fell 81% last fiscal year

May 14, 2020 0 By autotimesnews

Mazda’s net profit in fiscal year 2019 (ended March 31, 2020) decreased by 81%, to 12.13 billion yen (approximately $ 113.3 million). This is confirmed by the automaker’s information circulated on Thursday, May 14.

Thus, the operating profit of the corporation in the previous fiscal year also decreased – by 47%, to the level of 43.6 billion yen ($ 407.4 million). At the same time, the automaker did not make forecasts regarding profit for the current financial year (it will end on March 31 of next year).

“Predicting financial results for this fiscal year is difficult due to the situation with coronavirus infection,” the corporation said in a statement.

Earlier this week, the Japanese company Toyota also published reporting information for the 2019 fiscal year. According to them, the automaker’s operating profit fell 1% to 2.44 billion yen ($ 22.8 billion), while net profit increased by 10.3% to 2.08 billion yen (19 , 4 billion dollars).