Mazda Motor Corp. · TSE:7261
Mazda Motor — Q2 FY March 2027 Earnings Presentation
32 slides from Mazda Motor's earnings presentation, Nov 9, 2026
Slide 1: Financial Results for Fiscal Year March 2027 Second Quarter
FINANCIAL RESULTS FOR FISCAL YEAR MARCH 2027 SECOND QUARTER MAZDA CX-5 November 9, 2026 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 2027 First Half Results ▪FY March 2027 Full Year Forecast ▪Summary 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 2027 First Half Results
FY MARCH 2027 FIRST HALF RESULTS M A Z DA M OTO R CO R P ORAT I ON 3
Slide 4: First Half Results Overview
FIRST HALF RESULTS OVERVIEW ▪ Global sales volume was 617,000 units, up 1% year on year. ▪ Consolidated wholesale volume was 584,000 units, up 8% year on year ▪ Net sales were ¥2,688.1 billion, up 20% year on year Record high for the first half ▪ Operating income was ¥59.1 billion, up ¥113.0 billion
Slide 5: FY March 2027 First Half Volume Results
FY MARCH 2027 FIRST HALF VOLUME RESULTS (Thousand Units) FY March 2026 FY March 2027 Change from Previous Year 1st Half 1st Quarter 2nd Quarter 1st Half 1st Half Production Volume* 555 296 294 590 +35 +6% Global Sales Volume Japan 68 33 39 72 +4 +6% North America 306 154 157 312 +5 +2% Europe 74 43
Slide 6: FY March 2027 First Half Financial Metrics
FY MARCH 2027 FIRST HALF FINANCIAL METRICS (Billion Yen) FY March 2026 FY March 2027 Change from Previous Year 1st Half 1st Quarter 2nd Quarter 1st Half 1st Half Consolidated Wholesales 543 280 304 584 +41 +8% (Thousand Units) Net Sales 2,238.5 1,285.7 1,402.4 2,688.1 +449.6 +20% Operating Income -5
Slide 7: Change in First Half Operating Income vs. FY March 2026 First Half
CHANGE IN FY MARCH 2027 FIRST HALF OPERATING INCOME (vs. FY MARCH 2026 FIRST HALF) (Billion Yen) Foreign Exchange Raw Material, +72.1 Logistics Costs, etc. Cost Fixed Costs, Improvement Growth & Other +33.7 Security +15.7 59.1 Volume & Mix -17.1 +69.9 -61.3 FY March 2027 -53.9 FY March 2026 Change f
Slide 8: FY March 2027 Full Year Forecast
FY MARCH 2027 FULL YEAR FORECAST M A Z DA M OTO R CO R P ORAT I ON 8
Slide 9: Full Year Forecast Overview
FULL YEAR FOERCAST OVERVIEW ▪ Global sale volume forecast is 1,297,000 units, down 27,000 units from previous forecast ▪ Operating income forecast of ¥150 billion remains unchanged ▪ Assumptions for volume and mix, exchange rates, raw materials, and fixed costs are updated ▪ Closely monitor uncertai
Slide 10: FY March 2027 Full Year Volume Forecast
FY MARCH 2027 FULL YEAR VOLUME FORECAST Change from Change from (Thousand Units) FY March 2026 FY March 2027 Previous Year August Forecast Full Year 1st Half 2nd Half Full Year Full Year Full Year Global Sales Volume Japan 144 72 80 153 +9 +6% - North America 582 312 319 630 +49 +8% +2 Europe 164 85
Slide 11: FY March 2027 Full Year Financial Metrics
FY MARCH 2027 FULL YEAR FINANCIAL METRICS Change from Change from (Billion Yen) FY March 2026 FY March 2027 Previous Year August Forecast Full Year 1st Half 2nd Half Full Year Full Year Full Year Consolidated Wholesales 1,147 584 624 1,208 +60 +5% -26 (Thousand Units) Net Sales 4,918.2 2,688.1 2,811
Slide 12: Change in Operating Income vs. August Forecast
CHANGE IN FY MARCH 2027 OPERATING INCOME (vs. AUGUST FORECAST) (Billion Yen) Fixed Costs, Foreign Raw Material, Cost Other Volume & Exchange Growth & Logistics Costs, etc. Improvement +30.0 150.0 150.0 Mix +10.0 Security +10.0 0.0 -10.0 -40.0 August Change from August Forecast 0.0 November Forecast
Slide 13: Change in Operating Income vs. FY March 2026
CHANGE IN FY MARCH 2027 OPERATING INCOME (vs. FY MARCH 2026) Foreign (Billion Yen) Exchange Raw Material, Logistics Costs, etc. Cost +89.8 Fixed Costs, Improvement Growth & +87.6 Other Volume & Security +13.4 150.0 Mix +59.8 -30.5 51.6 -121.7 FY March FY March Change from Previous Year +98.4 2026 20
Slide 14: Key Measures to Achieve the Full Year Operating Income Target
KEY MEASURES TO ACHIEVE THE FULL YEAR OPERATING INCOME TARGET ▪Accelerate sales and profit improvement as well as variable and fixed cost improvement in every area where we can control Sales and profit improvement Variable and fixed cost improvement - Increase wholesales centered around the - Accele
Slide 15: Sales Landscape in the U.S.
SALES LANDSCAPE IN THE U.S. Total Industry & C-CUV Segment Trend & Mazda’s Sales Volume and Share Mazda CX-5 and CX-50 Share C-CUV Segment CX-5/CX-50 (thousand units) Total Share 17 800 10% 16.2mils 16.1mils 16.1mils 16 15.8mils 600 Mazda Share3% 9% 2.68% 2.72% 600 15 Industry (SAAR) 500 2.44% 14.1m
Slide 16: Change in Operating Income Second Half vs. First Half
CHANGE IN FY MARCH 2027 OPERATING INCOME SECOND HALF vs. FIRST HALF ◼ Operating income for the second half of the year is projected to increase ¥31.8 billion from the first half to ¥90.9 billion ◼ Volume & mix is expected to contribute significantly to the profit growth due to increased wholesale an
Slide 17: An Uncertain Environment
AN UNCERTAIN ENVIRONMENT ◼ Continued caution is required to uncertainties in the business environment, including market and competitive conditions - Growth in battery EV demand, intensifying market competition amid inflation, and shifts in consumer demand - Geopolitical risks and rising energy and r
Slide 18: Summary
SUMMARY M A Z DA M OTO R CO R P ORAT I ON 18
Slide 19: Summary
SUMMARY ▪ Net sales achieved record highs for both the second quarter and the first half ▪ First-half operating income was ¥59.1 billion, showing significant improvement compared to the previous year ▪ Full-year operating income forecast of ¥150 billion remains unchanged, incorporating changes in th
Slide 20: Mazda
MAZDA
Slide 21: Appendix
APPENDIX M A Z DA M OTO R CO R P ORAT I ON 21
Slide 22: First-Half Results and Priority Initiatives - Japan
FIRST-HALF RESULTS AND FUTURE PRIORITY INITIATIVES - JAPAN ▪ First-Half Results: 72,000 units (up 6% year on year) ▪ In addition to the all-new CX-5, the Mazda2 (up 7% year on year) and the MX-5 (up 3% year on year) drove sales growth ▪ Driven by the launch of the new model, CX-5 sales more than dou
Slide 23: First-Half Results and Priority Initiatives - North America
FIRST-HALF RESULTS AND FUTURE PRIORITY INITIATIVES - NORTH AMERICA United States ▪ First-Half Results: 216,000 units (up 3% year on year), achieving a record-high sales figure ▪ Retail sales of the CX-5 grew steadily following the launch of the new model (up 4% year on year); segment share improved
Slide 24: First-Half Results and Priority Initiatives - Europe / China
FIRST-HALF RESULTS AND FUTURE PRIORITY INITIATIVES – EUROPE / CHINA Europe ▪ First-Half Results: 85,000 units (up 16% year on year) ▪ Orders for the new CX-5 remain strong. The model has received high praise for its design, interior space, and comfort. Interest from new customer segments is also gro
Slide 25: First-Half Results and Priority Initiatives - Australia / ASEAN
FIRST-HALF RESULTS AND FUTURE PRIORITY INITIATIVES – AUSTRALIA / ASEAN Australia ▪ First-Half Results: 37,000 units (down 18% year on year) Amid a shift in demand toward electric vehicles and small, affordable models, sales declined year-over-year, primarily for ICE models ▪ Full-scale launch of the
Slide 26: Dividend Payment
DIVIDEND PAYMENT Dividends Per Share (Yen) 60 Interim Dividend Year-end Dividend Special Dividend 5 55 55 55 45 30 30 30 30 35 35 35 35 (Forecast) 30 25 20 20 20 20 15 20 25 25 25 25 20 20 15 15 15 15 15 0 FY March 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 M A Z DA M OTO R CO R P O
Slide 27: Change in Second Quarter Operating Income vs. Prior Year Second Quarter
CHANGE IN FY MARCH 2027 SECOND QUARTER OPERATING INCOME (vs. FY MARCH 2026 SECOND QUARTER) (Billion Yen) Foreign Exchange Raw Material, +30.8 Logistics Costs, etc. Cost Improvement Growth & Fixed Costs, Volume & Security Other Mix +18.0 26.3 +3.4 +26.5 -7.3 -37.3 -7.8 FY March 2027 FY March Change f
Slide 28: First Half Consolidated Wholesale Volume Results
FY MARCH 2027 FIRST HALF CONSOLIDATED WHOLESALE VOLUME RESULTS Change from (Thousand Units) FY March 2026 FY March 2027 Previous Year 1st Half 1st Quarter 2nd Quarter 1st Half 1st Half Consolidated Wholesales Japan 70 33 36 69 -1 -2% North America 289 159 155 314 +26 +9% Europe 63 32 52 84 +21 +34%
Slide 29: Full Year Consolidated Wholesale Volume Forecast
FY MARCH 2027 FULL YEAR CONSOLIDATED WHOLESALE VOLUME FORECAST Change from Change from (Thousand Units) FY March 2026 FY March 2027 Previous Year August Forecast Full Year 1st Half 2nd Half Full Year Full Year Full Year Consolidated Wholesales Japan 142 69 76 145 +3 +2% -2 North America 581 314 324
Slide 30: Cash Flow and Net Cash
FY MARCH 2027 CASH FLOW AND NET CASH (Billion Yen) FY March 2026 FY March 2027 1st Half Full Year 1st Half Cash Flow from Operating Activities -197.9 0.2 40.8 Cash Flow from Investing Activities 47.1 -0.9 -51.1 Free Cash Flow -150.7 -0.6 -10.3 (Billion Yen) End of Sep. 2025 End of Mar. 2026 End of S
Slide 31: Exchange Rates (Averages During the Year)
EXCHANGE RATES (AVERAGES DURING THE YEAR) Change from Change from (Yen) FY March 2026 FY March 2027 Previous Year August Forecast Full Year Full Year Full Year Full Year US Dollar 151 158 +7 +3 Euro 175 180 +6 0 Canadian Dollar 109 113 +4 -1 Australian Dollar 100 112 +13 0 British Pound 202 212 +10
Slide 32: 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