Mazda sees profits taking Y40 bln blow from forex

TOKYO, Oct 21 (BestGrowthStock) – The head of Mazda Motor Corp
(7261.T: ) said on Thursday the Japanese auto maker was aiming to
offset a negative impact of about 40 billion yen ($493.1 million)
on operating profit this business year with bigger sales, cost
cuts and other measures.

Chief Executive Officer Takashi Yamanouchi told a small group
of reporters that with the dollar and euro both far weaker than
Mazda’s assumption of 90 yen and 125 yen respectively, currencies
could knock 40 billion yen off its operating profit this business
year.

Yamanouchi said he expects global sales to exceed its target
of 1.237 million vehicles and profitability per car to rise
through various measures, and those two factors would hopefully
lead to a 20 billion yen lift in profit. The other 20 billion yen
in savings would come from further reductions in fixed and other
costs.
($1=81.12 Yen)
(Reporting by Chang-Ran Kim)

Mazda sees profits taking Y40 bln blow from forex