Mazda Motor Corp. · TSE:7261
Mazda Motor — Q2 FY March 2026 Earnings Presentation
32 slides from Mazda Motor's earnings presentation, Nov 7, 2025
Slide 1: Fiscal Year March 2026 Second Quarter Financial Results
FISCAL YEAR MARCH 2026 SECOND QUARTER FINANCIAL RESULTS November 7, 2025 Mazda Motor Corporation MAZDA VISION X-COUPE M A Z DA M OTO R CO R PO RAT I O N 1
Slide 2: Presentation Outline
PRESENTATION OUTLINE ▪Overview ▪FY March 2026 First Half Results ▪FY March 2026 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: Overview
OVERVIEW M A Z DA M OTO R CO R P ORAT I ON 3
Slide 4: Overview
OVERVIEW First Half Results ◼ Global sales volume: 609,000 units Net sales: ¥2,238.5 billion / Operating loss: ¥53.9 billion / Net loss: ¥45.3 billion ◼ The second quarter operating loss was ¥7.8 billion, breakeven excluding the delay in tariff reduction Full Year Forecast ◼ Global sales volume: 1.3
Slide 5: First Half Results
FY MARCH 2026 FIRST HALF RESULTS M A Z DA M OTO R CO R P ORAT I ON 5
Slide 6: First Half Volume Results
FY MARCH 2026 FIRST HALF VOLUME RESULTS (Thousand Units) FY March 2025 FY March 2026 Change from Prior Year 1st Half 1st Half 1st Half Production Volume* 603 555 -48 -8% Global Sales Volume Japan 64 68 +4 +6% North America 304 306 +2 +1% Europe 89 74 -15 -17% China 34 32 -2 -7% Other Markets 139 129
Slide 7: First Half Financial Metrics
FY MARCH 2026 FIRST HALF FINANCIAL METRICS (Billion Yen) FY March 2025 FY March 2026 Change from Prior Year 1st Half 1st Half 1st Half Consolidated Wholesales 590 543 -47 -8% (Thousand Units) Net Sales 2,393.9 2,238.5 -155.4 -6% Operating Income 103.0 -53.9 -156.9 - Ordinary Income 83.5 -21.3 -104.8
Slide 8: Change in First Half Operating Income
CHANGE IN FY MARCH 2026 FIRST HALF OPERATING INCOME (vs. FY MARCH 2025 FIRST HALF) (Billion Yen) 103.0 Net Tariff Impact Volume & Mix -97.1 Fixed Costs, FY March Foreign Cost Other 2025 Exchange Improvement +20.9 Raw Material, -54.9 Logistics Costs, etc. +10.4 -53.9 -34.1 -2.1 FY March 2026 Change f
Slide 9: Full Year Forecast
FY MARCH 2026 FULL YEAR FORECAST M A Z DA M OTO R CO R P ORAT I ON 9
Slide 10: Full Year Volume Forecast
FY MARCH 2026 FULL YEAR VOLUME FORECAST Change from (Thousand Units) FY March 2025 FY March 2026 Change from Prior Year August Forecast Full Year 1st Half 2nd Half Full Year Full Year Full Year Global Sales Volume Japan 152 68 87 155 +3 +2% -6 North America 617 306 304 610 -7 -1% +15 Europe 174 74 1
Slide 11: Full Year Financial Metrics
FY MARCH 2026 FULL YEAR FINANCIAL METRICS Change from Change from (Billion Yen) FY March 2025 FY March 2026 August Forecast Prior Year Full Year 1st Half 2nd Half Full Year Full Year Full Year Consolidated Wholesales 1,219 543 650 1,192 -26 -2% 0.0 (Thousand Units) Net Sales 5,018.9 2,238.5 2,661.5
Slide 12: Change in Operating Income (vs. August Forecast)
CHANGE IN FY MARCH 2026 OPERATING INCOME (vs. AUGUST FORECAST) (Billion Yen) Volume & Foreign Mix Exchange Raw Material, Cost +26.7 +8.0 Logistics Costs, etc. Improvement Fixed Costs, 50.0 Net Tariff Impact Other 50.0 0.0 -9.4 -5.0 -20.3 August November Forecast Forecast Change from August Forecast
Slide 13: Change in Operating Income (vs. FY March 2025)
CHANGE IN FY MARCH 2026 OPERATING INCOME (vs. FY MARCH 2025) (Billion Yen) Net Tariff Impact 186.1 Fixed Costs, Cost Other Volume & 50.0 Mix Foreign Raw Material, Improvement +35.0 Exchange Logistics Costs, etc. +40.0 -165.5 -0.6 FY March -10.6 FY March 2025 -34.4 2026 Change from Prior Year -136.1
Slide 14: Transformation of Profit Structure and Second Half Profitability
TRANSFORMATION OF PROFIT STRUCTURE AND ACHIEVEMENT OF PROFITABILITY IN THE SECOND HALF ◼ In the second half, we anticipate an approximate ¥150 billion improvement in operating income from the first half, thereby achieving a recovery to the previous fiscal year level ◼ We are aiming for a significant
Slide 15: US Sales Environment
US SALES ENVIRONMENT U.S. Total Demand Trend / Mazda Sales Trend U.S. Sales Incentive Trend Total Demand (million units) Mazda Sales (unit) (USD) 17 120,000 4,500 Mazda SAAR Mazda Market Avg. 4,000 100,000 3,500 16 80,000 3,000 60,000 2,500 2,000 15 40,000 Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr
Slide 16: Initiatives in Major Markets
INITIATIVES IN MAJOR MARKETS ◼ Deploy the right products in the right locations across 130 countries and regions to maximize sales opportunities ◼ Strengthen advertising/promotional activities for Large products while implementing optimal incentives North America Europe Japan ◼ Maximize use of MTM.*
Slide 17: New Mazda CX-5 to Be Launched This Fiscal Year
NEW MAZDA CX-5 TO BE LAUNCHED THIS FISCAL YEAR ◼ With cumulative sales exceeding 4.5 million units,*1 the CX-5 is currently Mazda’s best-selling model sold in more than 100 countries and regions ◼ The model combines Mazda’s signature driving performance and design with top-class interior space ◼ Equ
Slide 18: Summary
SUMMARY M A Z DA M OTO R CO R P ORAT I ON 18
Slide 19: Summary
SUMMARY ◼ Due to US tariffs and other factors, the challenging business environment is set to continue ◼ We at Mazda will accelerate our all-out efforts to respond to changes in the environment and aim for operating income of ¥50 billion ◼ Interim dividend is ¥25, and annual dividend of ¥55 is plann
Slide 20: Slide 20
Slide 21: Attachment
ATTACHMENT M A Z DA M OTO R CO R P ORAT I ON 21
Slide 22: Japan
JAPAN ◼ 68,000 units were sold, up 6% year on year ◼ The CX-60 and CX-80 contributed to growth in sales ◼ Market share increased by 0.1 points to 3.1%, MAZDA CX-60 while registered vehicle market share increased by 0.5 points to 3.8% First Half Sales Volume & Market Share ◼ Full-year sales forecast
Slide 23: North America
NORTH AMERICA ◼ 306,000 units were sold, up 1% year on year MAZDA CX-70 ◼ Full-year sales forecast is 610,000 units, down 1% year on year ◼ USA: - 209,000 units were sold, down 2% year on year - Market share was 2.5%, down 0.2 points year on year - Sales of the CX-50 and Large products were up, but
Slide 24: Europe
EUROPE ◼ 74,000 units were sold, down 17% year on year ◼ Market share was 0.9%, down 0.2 points year on year ◼ Although sales of the Mazda3, CX-30, CX-60, and CX-80 increased year on year, discontinuation of the Mazda2 and CX-5 resulted in a decrease in overall sales volume and market share NEW MAZD
Slide 25: China
CHINA ◼ 32,000 units were sold, down 7% year on year. Market share was 0.2% on a par with the previous year ◼ The new electric crossover SUV Mazda EZ-60 went on sale in September, with the number of MAZDA EZ-60 orders received exceeding expectations First Half Sales Volume & Market Share ◼ As the sh
Slide 26: Other Markets
OTHER MARKETS ◼ 129,000 units were sold, down 7% year on year ◼ Full-year sales forecast is 282,000 units, down 1% year on year ◼ Australia: - 45,000 units were sold, down 9% year on year - Market share was 7.2%, down 0.7 points year on year MAZDA CX-80 - Despite struggling with an increasingly comp
Slide 27: Full Year Financial Metrics
FY MARCH 2026 FULL YEAR FINANCIAL METRICS Change from Prior Change from (Billion Yen) FY March 2025 FY March 2026 August Forecast Year Full Year 1st Half 2nd Half Full Year Full Year Full Year Consolidated Wholesales (Thousand Units) 1,219 543 650 1,192 -26 -2% 0.0 Net Sales 5,018.9 2,238.5 2,661.5
Slide 28: Consolidated Wholesales Volume
FY MARCH 2026 CONSOLIDATED WHOLESALES VOLUME Change from Change from (Thousand Units) FY March 2025 FY March 2026 Prior Year Aug. Forecast Full Year 1st Half 2nd Half Full Year Full Year Full Year Consolidated Wholesales Japan 136 70 81 151 +15 +11% -7 North America 643 289 319 607 -36 -6% +25 Europ
Slide 29: First Half Cash Flow and Net Cash
FY MARCH 2026 FIRST HALF CASH FLOW AND NET CASH (Billion Yen) FY March 2025 FY March 2026 Full Year 1st Half Cash Flow from Operating Activities 305.6 -197.9 Cash Flow from Investing Activities -200.0 47.1 Free Cash Flow 105.7 -150.7 Change from (Billion Yen) FY March 2025 FY March 2026 Prior FY End
Slide 30: Exchange Rates (Averages During the Year)
EXCHANGE RATES (AVERAGES DURING THE YEAR) Change from (Yen) FY March 2026 Change from Prior Year Aug. Forecast 1st Half 2nd Half Full Year 1st Half 2nd Half Full Year Full Year US Dollar 146 149 147 -7 -4 -5 +2 Euro 168 174 171 +2 +12 +7 +2 Canadian Dollar 106 107 106 -6 -1 -3 +1 Australian Dollar 9
Slide 31: Dividend Payment
DIVIDEND PAYMENT Interim Dividend Year-end Dividend Special Dividend 60 5 55 55 45 35 35 35 35 30 30 30 (Forecast) 30 25 20 20 20 20 20 15 25 25 25 20 20 15 15 15 15 15 0 FY March 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 M A Z DA M OTO R CO R P ORAT I ON 31
Slide 32: Disclaimer
DISCLAIMER The projections and future strategies shown 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 perfo