Profits Soar at Mazda

Steve Herman
Voice of America
November 12, 2004
Tokyo

Mazda has revealed its best profit picture since 1985. The Hiroshima-based automaker, one-third owned by Ford Motor of the United States, says its profits totaled $177 million for the six-month period through September.

But Mazda President Hisakazu Imaki says the carmaker still wants to improve its position in key markets.

Mr. Imaki says although the company has made solid progress, he is still not satisfied and vows to accelerate Mazda's momentum.

Mitsubishi Motors, hit by a series of cover-ups and recalls of defective vehicles, is posting an interim net loss of nearly one-point-four billion dollars. That is double the amount of red ink from a year earlier. The company is also downgrading its full-year earnings forecast. Mitsubishi is Japan's only unprofitable automaker.

Honda says it will boost production at one of its two car assembly factories in China to meet growing demand. The Japanese automaker, in a joint venture with China's Dongfeng Motor, says it will add a compact car to its lineup in China and quadruple vehicle output to 120,000 annually by early 2006. This article is an excerpt from a Japan business report by the same title.  Non-automotive content remmoved.