Forum Views () 
Forum Replies ()  
 
 
Read more with google mobile :
Mazda to raise $1.1 bln, forecasts smaller loss  
 
 
 
 
 
Yahoo!
My Yahoo!
Mail
More Yahoo! Services
Account Options
New User? Sign Up
Sign In
Help
Yahoo! Search
web search
  
 
 
 
 
 
  
 
 
 
 
 
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
 
 
 
Singapore
Asia Pacific
World
 
 
  
 
 
 
 
 
 
 
Mazda to raise $1.1 bln, forecasts smaller loss
 
 
  
 
 By YURI KAGEYAMA,AP Business Writer -
 Tuesday, October  6
 
 
Send
 
IM Story
 
Print
 
 
 
 
 
 
 
TOKYO – Japanese automaker Mazda now expects about half the red ink it previously forecast for the fiscal year, crediting a rise in demand from "green" car incentives, and said it will raise $1.1 billion to fund research and development.
 
Mazda Motor Corp. on Monday revised its forecast for the fiscal year through March 2010 to a 26 billion yen ($289.5 million) net loss _ about half the 50 billion yen ($556.8 million) loss that Japan's No. 4 automaker had projected in May.
 
Mazda also said it will issue new common stock later this month that will reduce former U.S. alliance partner Ford Motor Co.'s stake to 11 percent from 13.8 percent. The automaker will issue 460 million shares from Oct. 14 to Oct. 20, raising as much as 95.9 billion yen ($1.1 billion) for research and development into green cars and safety features.
 
In forecasting a smaller loss, Hiroshima-based Mazda said global sales for the fiscal year were expected to be stronger by 55,000 vehicles, rising to 1.155 million, from the earlier forecast of 1.1 million, helped by strong sales of the its high mileage Mazda3, called Axela in Japan.
 
Mazda said it will return to profitability earlier than it had expected, by the July-September period. Initially, it had expected to stay in the red until the second half of the fiscal year, which runs from October to March.
 
Like other Japanese automakers, Mazda has been battered by the global slump.
 
Its bigger Japanese rivals such as Toyota Motor Corp. and Nissan Motor Co. have all sunk into the red.
 
In Monday's revisions, Mazda said it expects 2.13 trillion yen ($23.7 billion) in sales for the fiscal year through March 2010. It had previously expected 2.030 trillion yen ($22.6 billion) in sales.
 
For the last fiscal year, Mazda posted a 71.5 billion yen loss on 2.536 trillion yen in sales.
 
Questions remain about the long run future for Mazda in a troubled industry where even bigger players are faltering.
 
Until last year, Ford had a 33.4 percent stake in Mazda, and had been key in turning the automaker around, sending in executives, sharing technology and cutting costs by using the same auto parts.
 
Mazda shares fell 5.6 percent to 185 yen in Tokyo.
 
 
 
 
   
 
 
 
 
 
 
Recommend
 
 
 
 
 
 
 
Send
 
IM Story
 
Print
 
 
 
 
 
 
Related Articles
 
 
India Corporate Debt - Issuers to stay on sidelines Reuters - Monday, October  5
 
Indonesia Sept FX reserves at $62.29 bln-c.bank Reuters - Monday, October  5
 
MONEY MARKETS-Sharp jump in Aussie rate expectations Reuters - Monday, October  5
 
Fast Retailing shares surge on sales jump, upgrade Reuters - Monday, October  5
 
India o/n call rate ends near rev repo on cash Reuters - Tuesday, October  6
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
News Search
 
 
 
 
 
 
 
 
 
Top Stories
 
 
 
 
Dairy farmers bring Brussels to a standstill
Brazil joins emerging-nation boost to IMF funds
Brazil switches roles with helping hand for IMF
US trio win Nobel Medicine Prize for research on ageing
Victorious F1 driver Vettel now looks to Brazil
 
 
 
 More Top Stories »
 
 
 
ADVERTISEMENT
 
  
 
 
 
 
Most Popular
 
 
 
 
Most Viewed
 
Most Recommended
 
 
 
 
Mother in plea to Elton John over adoption plan
 
Oldest hominid skeleton sheds light on human origins
 
T-Rex fails to impress Las Vegas bidders
 
13 million premature births worldwide: US charity
 
Nobel guessing game at fever pitch
 
 
 More Most Viewed »
 
 
 
 
 
Ozone hole smaller in 2009 than 2008: WMO
 
Nanoparticles could pose threat to humans: scientists
 
Oldest hominid skeleton sheds light on human origins
 
Implanted tooth helps blind US woman recover sight
 
 
 More Most Recommended »
 
 
 
 
 
 
 
  
 
 
 
 
Elsewhere on Yahoo!
 
 
 
 
Financial news on Yahoo! Finance
 
 
Stars and latest movies
 
 
Best travel destinations
 
 
 
 
 
  
 
 
 
 
 
More on Yahoo! News
 
 
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Subscribe to our news feeds
Top StoriesMy Yahoo!RSS
» More news feeds | What are news feeds?
 
Also on Yahoo
 
Answers
Groups
Mail
Messenger
Mobile
Travel
Finance
Movies
Sports
Games
» All Yahoo! Services
 
Site Highlights
 
Singapore
Full Coverage
Most Popular
Asia Entertainment
Photos
 
 
 
 Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Terms of Service |
Privacy Policy |
Community |
Intellectual Property Rights Policy |
Help
  
   
 
 
    
   
 
Other News on Monday,  5 October 2009 Palestinians slam Abbas over UN Gaza report delay  
BAE Systems could still reach deal on corruption case  
Berlusconi visits Sicily after landslide kills 23  
Welcome to Hawaii Pacific Teleport  
Top US adviser doesn't see Taliban returning to power  
Pakistan has forces, equipment for Taliban assault: U.S.
| International
|  
Head of UN nuclear watchdog sees Iran cooperation  
Argentine folk legend Mercedes Sosa dead at 74  
Gaza woman freed in last step of soldier-video swap  
Fatah and Hamas eye truce deal, but hurdles remain
| International
|  
IAEA to inspect Iran's Qom site October 25  
Last known rebel leader disarms in Nigeria's delta
| International
|  
Five hurt in south Yemen protests: reports
| International
|  
Adviser downplays threat of renewed al-Qaida haven  
Devices locate kids, parents find peace of mind  
Yale lab tech due in court to face murder charge  
White House sees progress from talks with Iran  
Fires char wildland in Calif., Ariz.  
Greenspan says unemployment will top 10 percent  
Ex-Ala. judge accused of trading sex for leniency  
6 members of Supreme Court attend Catholic Mass  
Report: 13 million babies worldwide born premature  
Aid push to villages wiped out by Indonesia quake  
GOP senator silent on whether Ensign should stay  
Latest typhoon kills 16 in northern Philippines  
Lavish welcome for Chinese premier in Pyongyang  
Traditions fade as China settles nomads in towns  
Billions in US aid never reached Pakistan army  
NKorea open to nuclear talks: state media  
North Korea's Kim woos visiting China Premier  
Chinese premier meets Kim Jong Il on NKorea visit  
Report: Seized NKorean ship allowed to leave India  
Quake jolts south Philippines; no injury reports  
Fans feast on undead as `Zombieland' opens to $25M  
'Zombieland' top destination at box office
| Entertainment
|  
Argentine folk singer Mercedes Sosa dies aged 74  
Nick Hornby brings middle-age mindset to new works  
Mannequins hit by discrimination -- and loss of face  
Argentine singer Mercedes Sosa dies at 74
| Entertainment
|  
Author Coetzee eyes Booker triple, Mantel favorite  
Nick Hornby brings middle-age mindset to new works
| Entertainment
|  
Saudi fires cleric who criticised mixed university  
Mother in plea to Elton John over adoption plan  
China vows to stand by isolated North Korea
| International
|  
Major report details India's infant mortality crisis  
Eight US troops die in one of worst Afghan battles  
Tensions in Jerusalem after new Al-Aqsa clashes  
Some schools reopen in quake-hit Indonesia city
| International
|  
Bomb at Pakistani U.N. office, 2 dead: police
| International
|  
Abbas faces uproar over deferred war crimes vote  
Berlusconi visits Sicily after landslide kills 23  
13 million premature births worldwide: US charity  
Nobel guessing game at fever pitch  
Passenger train derails in Thailand, 5 dead: report
| International
|  
Fuel truck explodes near Baghdad airport  
Typhoon turns back, dumps rain on northern Philippines
| International
|  
IMF takes on bigger role, seeks more funds  
Support for Japan's PM above 70 percent: media
| International
|  
Support for Japan's PM above 70 percent  
Tiger rescued from poacher's trap in Malaysia  
3 dead, 4 seriously injured in NY speedboat crash  
SKorea seized suspected NKorean cargo containers  
T-Mobile USA kicks off corporate Wi-Fi push
| Technology
|  
Landslides in Myanmar kill 3  
Government finds higher autism figure: 1 in 100  
China, NKorea reaffirm relations  
China vows to stand by North Korea  
Government report questions rescue claims  
Samoans join in prayer after tsunami  
Schools hold class in tents after Indonesia quake  
Hatoyama support at more than 70 percent: poll  
Britain offered Libya funds to end IRA support: report  
California fires force thousands to evacuate  
At least seven dead as Thai train derails: police  
Peg Mullen, author of "Unfriendly Fire," dies  
US military deaths in Afghanistan region at 774  
Reggae artist says NYC man slashed him with sword  
Neighbors: Accused Andrews stalker kept to himself  
S.Korea c.bank ready to act to check won's rise  
Banks, tech plays send Seoul shares down 2.3 pct  
Heavy rains hold up search for bodies in Indonesia  
Multitasker Beyonce thrives on hectic pace  
IMF takes on enhanced global role  
Neighbors: Accused Andrews stalker kept to himself  
British supermarket chain shelves Fox News: report  
Country's Luke Bryan doing his thing with new album  
U.S. Prudential mulls sale of South Korean units  
CORRECTED: U.S. Prudential mulls sale of South Korean units  
Broadway performance canceled when actor falls ill  
Korea Hot Stocks  
Kiwi dollar higher than govt expected  
Tight security, recession dampen Munich beer fest: city  
Seoul shares fall after U.S. data;Hana Fin tumbles  
Linkin Park frontman resurfaces with side project  
Taiwan LCD makers eye China as leverage against rivals  
Rock band Cartel mounts comeback after MTV failure  
Carrie Fisher journeys through showbiz celebrity  
Canada music labels combine to take on U.S. market  
Lady Gaga to tour without Kanye West
| Entertainment
|  
Multitasker Beyonce thrives on hectic pace
| Entertainment
|  
Arrested Development movie script in works
| Entertainment
|  
Still a long way to the top for rapper MC Wale
| Entertainment
|  
Social Distortion road-testing new songs on tour
| Entertainment
|  
Linkin Park frontman resurfaces with side project
| Entertainment
|  
Rock band Cartel mounts comeback after MTV failure
| Entertainment
|  
Iraq's joint Kurd, Arab, US patrols face big hurdles  
Dairy farmers bring Brussels to a standstill  
New Afghan vote rules may ensure Karzai victory
| International
|  
US-TECH Summary  
US trio win Nobel Medicine Prize for research on ageing  
Brazil switches roles with helping hand for IMF  
Sample audit in Afghan vote gets under way  
Vonage unveils mobile app for iPhone, BlackBerry  
IT to generate 5.8 million new jobs by 2013: IDC  
Suicide bomber kills at least 6 at Iraqi funeral
| International
|  
Cutting child mortality 'cheap and achievable'  
T-Mobile USA kicks off corporate Wi-Fi push  
India floods leave 2.5 million homeless, 250 dead
| International
|  
Victorious F1 driver Vettel now looks to Brazil  
Kenya leaders deny delay on post-election reform
| International
|  
Training, drug use major issues for Afghan police  
UK ministers' Pakistan terrorism talks: officials  
Greek Socialists work on cabinet with big majority
| International
|  
Taliban under attack in area where U.S. soldiers killed
| International
|  
Suicide bomber kills 5 at UN office in Pakistan  
Microsoft's Ballmer says Web search buys unlikely
| Technology
|  
The nation's weather  
Five dead as suicide blast hits UN Islamabad office  
Vonage unveils mobile app for iPhone, BlackBerry
| Technology
|  
President Obama continues health care push Monday  
Al-Qaeda number two 'vows to kill Westerners'  
China, North Korea laud ties on scrutinized visit  
Swine flu vaccine arriving, but don't line up yet  
Bomber kills 5 at Pakistani U.N. food office  
Analysis: Campaign vow meets harsh Afghan reality  
Sarkozy urged to tell Kazakhstan to improve rights  
India floods leave 1.5 million homeless: officials  
UN closes offices in Pakistan after attack  
Exiled Uighur leader Kadeer invited to New Zealand  
Japan Post bosses 'must resign by end-October'  
Indonesia calls off rescue efforts in quake-hit city  
Peace eludes victims of East German secret police  
Mazda to raise $1.1 bln, forecasts smaller loss  
Japan's Mazda cuts loss forecast  
Rain, landslides threaten Indonesian quake victims  
Mittal 'may pull $20 bln India steel plant plan'  
Edison Chen in 1st movie since sex photo scandal  
Japan's Mazda forecasts smaller loss  
Filipinos cling to their Christian faith during crisis  
"Arrested Development" movie script in works  
FACTBOX-S.Korean officials' comments on property boom  
GRAPHICS-S.Korea c.bank getting tough on property boom  
Author Coetzee eyes Booker triple, Mantel favorite
| Entertainment
|  
South Korea's c.bank ready to clamp down on housing boom  
Greece at new risk of being pushed off euro  
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found  
Female Breasts Are Bigger Than Ever  
AMD Trinity Accelerated Processing Units Now in Volume Production  
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time  
AMD to Start Production of piledriver  
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs  
Islamists Protest Lady Gaga's Concert in Indonesia  
Japan Successfully Broadcasts an 8K Signal Over the Air  
ECB boosts loans to 1 trillion Euro to stop credit crunch  
Egypt : Mohammed Morsi won with 52 percent  
What do you call 100,000 Frenchmen with their hands up  
AMD Launches AMD Embedded R-Series APU Platform  
Fed Should not Ignore Emerging Market Crisis  
Fed casts shadow over India, emerging markets  
Why are Chinese tourists so rude? A few insights