Mazda Motor Corp. · TSE:7261
Mazda Motor — FY2026 Earnings Presentation
36 slides from Mazda Motor's earnings presentation, May 12, 2026
Slide 1: Financial Results for Fiscal Year March 2026
FINANCIAL RESULTS FOR FISCAL YEAR MARCH 2026 May 12, 2026 NEW MAZDA CX-5 Mazda Motor Corporation M A Z DA M OTO R CO R PO RAT I O N 1
Slide 2: Presentation Outline
PRESENTATION OUTLINE ◼ FY March 2026 Results ◼ FY March 2027 Forecast ◼ Progress in Initiatives Based on Management Policy up to 2030 Note: Net income/loss in this presentation indicates net income/loss attributable to owners of the parent M A Z DA M OTO R CO R P ORAT I ON 2
Slide 3: FY March 2026 Results
FY MARCH 2026 RESULTS M A Z DA M OTO R CO R P ORAT I ON 3
Slide 4: Financial Results Highlights
FINANCIAL RESULTS HIGHLIGHTS FY March 2026 Results ◼ Global sales volume 1.22 million units ◼ Net sales ¥4,918.2 billion ◼ Operating income ¥51.6 billion ◼ Net income ¥35.1 billion ◼ Annual dividend ¥55 per share Strong second-half recovery from tariff-related losses, protected global supply chain,
Slide 5: Return to Profitability in the Second Half
RETURN TO PROFITABILITY IN THE SECOND HALF Operating Income ◼ Improved volume and mix, cost reduction activities as (Billion Yen) 2nd Half well as external factors all contributed to the turnaround +105.5 (Billion Yen) Change from Factors Behind Profit Increase Factors Behind Profit Decrease 1st Hal
Slide 6: FY March 2026 Volume Results
FY MARCH 2026 VOLUME RESULTS Change from (Thousand Units) FY March 2025 FY March 2026 Change from Previous Year Feb. Forecast Full Year Full Year Full Year Full Year Production Volume* 1,207 1,165 -42 -4% - Global Sales Volume Japan 152 144 -8 -5% -8 North America 617 582 -35 -6% -28 Europe 174 164
Slide 7: FY March 2026 Financial Metrics
FY MARCH 2026 FINANCIAL METRICS Change from Change from (Billion Yen) FY March 2025 FY March 2026 Previous Year Feb. Forecast Full Year Full Year Full Year Full Year Consolidated Wholesales (Thousand Units) 1,219 1,147 -72 -6% -25 Net Sales 5,018.9 4,918.2 -100.7 -2% +98.2 Operating Income 186.1 51.
Slide 8: Change in FY March 2026 Operating Income (vs. February Forecast)
CHANGE IN FY MARCH 2026 OPERATING INCOME (vs. FEBRUARY FORECAST) (Billion Yen) Foreign Fixed Costs, Net Tariff Impact Volume & Exchange Raw Material, Other +7.6 Mix Cost Logistics Costs, etc. 51.6 50.0 +6.2 Improvement +7.4 -13.2 -3.3 -3.1 February Results Forecast Change from February Forecast +1.6
Slide 9: Change in FY March 2026 Operating Income (vs. FY March 2025)
CHANGE IN FY MARCH 2026 OPERATING INCOME (vs. FY MARCH 2025) (Billion Yen) 186.1 Net Tariff Impact Fixed Costs, Other Cost 51.6 Volume & Foreign +42.4 Improvement Mix Exchange Raw Material, +10.6 Logistics Costs, etc. +36.9 -154.9 FY March -31.8 FY March 2025 -37.7 2026 Change from Previous Year -13
Slide 10: FY March 2026 Cash Flow and Net Cash
FY MARCH 2026 CASH FLOW AND NET CASH (Billion Yen) FY March 2025 FY March 2026 Full Year Full Year Cash Flow from Operating Activities 305.6 0.2 Cash Flow from Investing Activities -200.0 -0.9 Free Cash Flow 105.7 -0.6 Change from (Billion Yen) FY March 2025 FY March 2026 Previous FY End Full Year F
Slide 11: FY March 2027 Forecast
FY MARCH 2027 FORECAST M A Z DA M OTO R CO R P ORAT I ON 11
Slide 12: Financial Results Highlights: FY March 2027 Forecast
FINANCIAL RESULTS HIGHLIGHTS FY March 2027 Forecast ◼ Global sales volume 1.32 million units 100,000-unit product-led growth including new CX-5 launch ◼ Cumulative structural cost reduction impact exceeds ¥60 billion ◼ Operating income ¥150 billion ◼ Net income ¥90 billion ◼ Annual dividend plan ¥55
Slide 13: Full-Scale Launch of the New Mazda CX-5
FULL-SCALE LAUNCH OF THE NEW MAZDA CX-5 ◼ Now on sale in Europe and U.S., with deliveries progressing as planned ◼ Praise for evolved design, expanded cargo space, cabin comfort and large center display, along with enhanced usability of voice control and steering-wheel switches ◼ Sales will begin in
Slide 14: FY March 2027 Volume Forecast
FY MARCH 2027 VOLUME FORECAST (Thousand Units) FY March 2026 FY March 2027 Change from Previous Year Full Year Full Year Full Year Global Sales Volume Japan 144 153 +9 +6% North America 582 629 +47 +8% Europe 164 197 +34 +21% China 71 71 0 0% Other Markets 262 274 +13 +5% Total 1,223 1,324 +102 +8%
Slide 15: FY March 2027 Financial Metrics
FY MARCH 2027 FINANCIAL METRICS (Billion Yen) FY March 2026 FY March 2027 Change from Previous Year Full Year Full Year Full Year Consolidated Wholesales (Thousand Units) 1,147 1,233 +86 +8% Net Sales 4,918.2 5,500.0 +581.8 +12% Operating Income 51.6 150.0 +98.4 +191% Ordinary Income 131.8 140.0 +8.
Slide 16: Change in FY March 2027 Operating Income (vs. FY March 2026)
CHANGE IN FY MARCH 2027 OPERATING INCOME (vs. FY MARCH 2026) Foreign Cost (Billion Yen) Exchange Raw Material, Growth Improvement +79.8 Logistics Costs, etc. Investment +77.6 Fixed Costs, Volume & Other Mix 150.0 +69.8 -30.5 -16.6 -81.7 51.6 FY March FY March 2026 Change from Previous Year +98.4 202
Slide 17: Dividend Payment
DIVIDEND PAYMENT ◼ Achieve both sustainable profit growth and shareholder returns ◼ Maintain stable and continuous dividends while prioritizing investment for growth and profit structure enhancement Interim Dividend Year-end Dividend Special Dividend 60 5 55 55 55 45 35 35 35 35 30 30 30 30 30 25 20
Slide 18: Progress in Initiatives Based on Management Policy up to 2030
PROGRESS IN INITIATIVES BASED ON MANAGEMENT POLICY UP TO 2030 M A Z DA M OTO R CO R P ORAT I ON 18
Slide 19: 1. Business Structure Transformation
1. BUSINESS STRUCTURE TRANSFORMATION ◼ From management focused on adapting to the business environment, we are transitioning to a business structure that is resilient to changes in the external environment and capable of generating stable profits - In an external environment characterized by high un
Slide 20: 2. Multi-Solution Strategy
2. MULTI-SOLUTION STRATEGY ◼ We operate in more than 130 markets while the pace of electrification varies by region and regulation ◼ This diversity itself is a key business asset ◼ Rather than converging on a single solution, by combining electrification, hybrid technology, and internal combustion e
Slide 21: 2. Multi-Solution Strategy
2. MULTI-SOLUTION STRATEGY ◼ Rather than investing across the board, we create diverse options with limited resources - Flexibly achieve electrification by combining core technologies centered on model-based development - Support electrification through a flexible production system capable of handli
Slide 22: 3. Lean Asset and Partnership Strategy
3. LEAN ASSET AND PARTNERSHIP STRATEGY ◼ Fundamentally review the approach to electrification investments and implement selective and focused investment ◼ Thoroughly review our in-house BEV program in light of market trends and optimize launch timing Estimated costs due to inflation Approximately 2
Slide 23: 3. Lean Asset and Partnership Strategy
3. LEAN ASSET AND PARTNERSHIP STRATEGY ◼ Develop and launch four jointly developed electric vehicles with Changan Automobile in a short timeframe with high investment efficiency ◼ Intensively allocate resources to areas that create unique brand value such as strengthening our hybrid and large-platfo
Slide 24: 4. Business Growth Through Brand Value Management
4. BUSINESS GROWTH THROUGH BRAND VALUE MANAGEMENT ◼ Deliver current profitability and future options / “optionality values” through a lean asset and partnership strategy while strengthening of the business structure Prioritizing resource allocation to areas directly linked to future growth and compe
Slide 25: 5. Cost Structure Reform and Customer Value Enhancement
5. COST STRUCTURE REFORM AND CUSTOMER VALUE ENHANCEMENT Phase 2 ◼ Aim for structural improvements with variable cost reductions of ¥100 billion and fixed cost reduction of ¥100 billion during Phase 2 ◼ Enhance customer value per unit-cost through structural cost reductions achieved mainly through in
Slide 26: Summary
SUMMARY Build a Business Structure Resilient to External Volatility— Generating Profits and Driving Sustainable Growth even Amid Uncertainty M A Z DA M OTO R CO R P ORAT I ON 26
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Slide 28: Appendix
APPENDIX M A Z DA M OTO R CO R P ORAT I ON 28
Slide 29: Japan
JAPAN <Key Initiatives in FY March 2026 and FY March 2027> ◼ Driving structural reforms for renewed growth in the domestic market in line with the policy announced in June 2025 ◼ Advancing three key initiatives: "Growth investments to nurture the brand," "Identification of priority markets (Metropol
Slide 30: North America
NORTH AMERICA <Key Initiatives in FY March 2026 and FY March 2027> ◼ In response to a rapidly changing market environment, including tariffs and environmental regulations, we will drive growth by maximizing the strengths of existing models, including the current CX-5, and by delivering high- quality
Slide 31: Europe
EUROPE <Key Initiatives in FY March 2026 and FY March 2027> ◼ Under our multi-solution strategy, we are strengthening our electrified lineup to meet the needs of the European market and comply with various regulations The Mazda6e, our first battery EV developed in partnership with Changan Automobile
Slide 32: China
CHINA <Key Initiatives in FY March 2026 and FY March 2027> ◼ To respond to the accelerating shift toward electrification and customer needs, we are focusing on the successful launch of the new electric vehicles EZ-6 and EZ-60, developed in partnership with Changan Automobile, and on building sales m
Slide 33: Other Markets
OTHER MARKETS <Key Initiatives in FY March 2026 and FY March 2027> ◼ The Mazda6e, a battery electric vehicle developed in partnership with Changan Automobile, will be launched in Thailand and Australia in 2026, while the Mazda CX-6e in the second half of 2026 to Australia and New Zealand, flexibly r
Slide 34: FY March 2027 Consolidated Wholesales Volume
FY MARCH 2027 CONSOLIDATED WHOLESALES VOLUME Change from (Thousand Units) FY March 2026 FY March 2027 Previous Year Full Year Full Year Full Year Consolidated Wholesales Japan 142 148 +5 +4% North America 581 632 +51 +9% Europe 169 184 +15 +9% Other Markets 254 270 +16 +6% Total 1,147 1,233 +86 +8%
Slide 35: Exchange Rates (Averages During the Year)
EXCHANGE RATES (AVERAGES DURING THE YEAR) Change from (Yen) FY March 2026 FY March 2027 Previous Year Full Year Full Year Full Year US Dollar 151 155 +4 Euro 175 180 +5 Canadian Dollar 109 114 +5 Australian Dollar 100 112 +12 British Pound 202 208 +6 Thai Baht 4.67 4.80 +0.13 Mexican Peso 8.16 8.89
Slide 36: Disclaimer
DISCLAIMER The projections and future strategies described in this presentation are based on various uncertainties including but not limited to conditions of the world economy in the future, trends in the automotive industry, and the risk of exchange rate fluctuations. Consequently, Mazda's actual p