Mazda Motor Corp. · TSE:7261
Mazda Motor — Q3 FY March 2026 Earnings Presentation
32 slides from Mazda Motor's earnings presentation, Feb 10, 2026
Slide 1: Fiscal Year March 2026 Third Quarter Financial Results
FISCAL YEAR MARCH 2026 THIRD QUARTER FINANCIAL RESULTS February 10, 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 ◼ Overview ◼ FY March 2026 Third Quarter Results ◼ FY March 2026 Full Year Forecast ◼ Review of This Fiscal Year and Future Outlook 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: Third Quarter Results
OVERVIEW Third Quarter Results ◼ Third Quarter (Three Months): ﹣ Achieved profits as planned and returned to profitability ﹣ Operating income ¥30.8 billion/Net income ¥30.6 billion/ Positive free cash flow ◼ Nine Months: ﹣ Global sales volume 920,000 units ﹣ Net sales ¥3,501.5 billion/Operating loss
Slide 5: FY March 2026 Third Quarter Results
FY MARCH 2026 THIRD QUARTER RESULTS M A Z DA M OTO R CO R P ORAT I ON 5
Slide 6: FY March 2026 Nine Month Volume Results
FY MARCH 2026 NINE MONTH VOLUME RESULTS (Thousand Units) FY March 2025 FY March 2026 Change from Previous Year Nine Month First Half Third Quarter Nine Month Nine Month Production Volume* 909 555 304 859 -50 -6% Global Sales Volume Japan 102 68 32 100 -2 -2% North America 464 306 141 447 -16 -4% Eur
Slide 7: FY March 2026 Nine Month Financial Metrics
FY MARCH 2026 NINE MONTH FINANCIAL METRICS (Billion Yen) FY March 2025 FY March 2026 Change from Previous Year 対 Nine Month First Half Third Quarter Nine Month Nine Month Consolidated Wholesales 902 543 291 834 -69 -8% (Thousand Units) Net Sales 3,689.4 2,238.5 1,263.0 3,501.5 -187.9 -5% Operating I
Slide 8: Change in FY March 2026 Nine Month Operating Income
CHANGE IN FY MARCH 2026 NINE MONTH OPERATING INCOME (vs. FY MARCH 2025 NINE MONTH) (Billion Yen) 148.3 Net Tariff Impact Volume & Mix Fixed Costs, -119.2 Other FY March Foreign Cost +35.3 2025 Exchange Raw Material, Improvement -23.1 Logistics Costs, etc. +18.8 -78.0 FY March -20.2 2026 -8.1 Change
Slide 9: FY March 2026 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: FY March 2026 Full Year Volume Forecast
FY MARCH 2026 FULL YEAR VOLUME FORECAST Change from (Thousand Units) FY March 2025 FY March 2026 Change from Previous Year Nov. Forecast Full Year Full Year Full Year Full Year Global Sales Volume Japan 152 152 0 0% -3 North America 617 610 -7 -1% 0 Europe 174 170 -4 -2% -7 China 74 76 +2 +2% 0 Othe
Slide 11: FY March 2026 Full Year Financial Metrics
FY MARCH 2026 FULL YEAR FINANCIAL METRICS Change from Change from (Billion Yen) FY March 2025 FY March 2026 Nov. Forecast Previous Year Full Year Full Year Full Year Full Year Consolidated Wholesales (Thousand Units) 1,219 1,172 -46 -4% -20 Net Sales 5,018.9 4,820.0 -198.9 -4% -80.0 Operating Income
Slide 12: Change in FY March 2026 Operating Income (vs. November Forecast)
CHANGE IN FY MARCH 2026 OPERATING INCOME (vs. NOVEMBER FORECAST) (Billion Yen) Foreign Raw Material, Cost Fixed Costs, Net Tariff Impact Volume & Exchange Logistics Costs, etc. Improvement Other 50.0 +3.0 Mix 0 50.0 +15.0 0 0 -18.0 November February Forecast Forecast Change from November Forecast 0
Slide 13: 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 Volume & Foreign +35.0 50.0 Improvement Mix Exchange Raw Material, Logistics Costs, etc. +40.0 +4.4 -162.5 -18.6 FY March FY March 2025 -34.4 2026 Change from Previous Year -136
Slide 14: New Mazda CX-5
NEW MAZDA CX-5 ◼ Our best-selling model, accounting for about a quarter* of global sales - Completely redesigned, delivering major advancements in design, cargo space/cabin comfort, and usability - Progress made in structural cost-reduction initiatives ◼ Start of full-scale shipments in the fourth q
Slide 15: Review of This Fiscal Year and Future Outlook
REVIEW OF THIS FISCAL YEAR AND FUTURE OUTLOOK M A Z DA M OTO R CO R P ORAT I ON 15
Slide 16: Review of This Fiscal Year
REVIEW OF THIS FISCAL YEAR ◼ Thanks to concerted efforts with our business partners, dealerships, financial institutions, government entities, and other stakeholders, we successfully turned expected tariff costs of more than ¥230 billion into a positive financial outcome within a short period ◼ Toge
Slide 17: Review of This Fiscal Year: North America
REVIEW OF THIS FISCAL YEAR: NORTH AMERICA ◼ We gave priority to profitability and sustainability over short-term volume ◼ Despite significant tariff impacts, North America maintained full-year sales of 600,000 units — roughly the same level as the previous year — while partially restraining shipment
Slide 18: Review of This Fiscal Year
REVIEW OF THIS FISCAL YEAR ◼ Contributions of profits in Europe: Increased shipments of our Large models, and full-scale shipments of the Mazda6e. Strong pre-orders for the new Mazda CX-5 ◼ ASEAN and Australia: We plan to introduce battery EVs developed through collaboration with our partner next Ma
Slide 19: Future Outlook
FUTURE OUTLOOK ◼ We are making steady progress in Phase 2 initiatives under our Multi-Solution Strategy, Lean Asset Strategy, and our “Intentional Follower for BEVs” approach PHASE2 2025-2027 - Cost Reduction and Fixed-Cost Efficiency - BLUEPRINT organizational culture reforms - Building up electrif
Slide 20: Future Outlook
FUTURE OUTLOOK ◼ In 2026, we will strengthen profitability step by step through the global rollout of the new CX-5 and ongoing progress in cost reduction and fixed-cost efficiencies ◼ Based on the turnaround trend in the second half of the fiscal year, overcome tariff costs and return to a growth tr
Slide 21: Slide 21
Slide 22: Appendix
APPENDIX M A Z DA M OTO R CO R P ORAT I ON 22
Slide 23: Japan
JAPAN <Key Initiatives> ◼ We have been advancing structural reforms aimed at putting the domestic market back on a growth trajectory ◼ We have been promoting three major initiatives: "Growth investment for brand strengthening," "Identification of priority areas (urban area strategy)," and "Thorough
Slide 24: North America
NORTH AMERICA <Key Initiatives> ◼ Under Brand Value Management, we aim for growth by providing high-quality customer experiences and promoting sales network reforms ◼ In the U.S., we have been focusing on the sales of the CX-50 produced in our Alabama Plant, the highly profitable CX-5, and our Large
Slide 25: Europe
EUROPE <Key Initiatives> ◼ Under our multi-solution strategy, we are responding to market needs and regulations in Europe in a timely manner by enhancing our electric model lineup and expanding BEV sales. Sales of the Mazda6e, the first BEV developed in collaboration with Changan Automobile, went in
Slide 26: China
CHINA <Key Initiatives> ◼ As the shift in demand to electrification accelerates, we successfully introduced the Mazda EZ-60, our second NEV model in collaboration with Changan Automobile, in the latter half of 2025. The Mazda EZ-60 is a crossover SUV with Mazda’s signature elegant and modern styling
Slide 27: Other Markets
OTHER MARKETS <Key Initiatives> ◼ We aim to enhance sales quality in the ASEAN market by opening flagship stores in Vietnam, restructuring the sales network in Thailand, and producing the CX-30 in Indonesia ◼ The production plan for the new compact SUV at AAT (Thailand) is progressing satisfactorily
Slide 28: FY March 2026 Consolidated Wholesales Volume
FY MARCH 2026 CONSOLIDATED WHOLESALES VOLUME Change from (Thousand Units) FY March 2025 FY March 2026 Change from Previous Year Nov. Forecast Full Year Full Year Full Year Full Year Consolidated Wholesales Japan 136 148 +12 +9% -3 North America 643 600 -43 -7% -7 Europe 153 166 +13 +8% -1 Other Mark
Slide 29: FY March 2026 Nine Month Cash Flow and Net Cash
FY MARCH 2026 NINE MONTH CASH FLOW AND NET CASH (Billion Yen) FY March 2025 FY March 2026 Full Year Nine Month Cash Flow from Operating Activities 305.6 -171.7 Cash Flow from Investing Activities -200.0 25.9 Free Cash Flow 105.7 -145.8 Change from (Billion Yen) FY March 2025 FY March 2026 Previous F
Slide 30: Exchange Rates (Averages During the Year)
EXCHANGE RATES (AVERAGES DURING THE YEAR) Change from (Yen) FY March 2026 Change from Previous Year Nov. Forecast 1Q 2Q 3Q Full Year 1Q 2Q 3Q Full Year Full Year US Dollar 145 147 154 150 -11 -2 +2 -2 +3 Euro 164 172 179 174 -4 +8 +17 +10 +3 Canadian Dollar 104 107 111 108 -10 -3 +2 -1 +2 Australian
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 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