Mazda 2012 Annual Report Download - page 11

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nated loan from our main financial institutions. This led to a significant dilution of Mazda’s
shares and imposed a burden on existing shareholders, but we intend to quickly meet the
expectations of shareholders and raise shareholder value through the swift and steady
implementation of the measures contained in the Structural Reform Plan.
Mazda’s policy is to determine the amount of dividend payments each fiscal year, taking into
account financial results and the operating environment. With the recording of a net loss and
a retained loss, we have decided to forgo the payment of a year-end dividend for the fiscal
year March 2012. In addition, we are expecting to record a retained loss again in the fiscal
year March 2013, and therefore payment of dividends is to be suspended for the fiscal year
March 2013. Going forward, we aim to restore the dividend by the fiscal year March 2016
through the swift and steady implementation of the Structural Reform Plan. We regret the
necessity of this decision and ask for shareholders’ understanding.
Going forward, I intend to consolidate the Group’s strength so that we can work as “One
Mazda” to achieve a resilient management structure that will not be significantly impacted
by exchange rate movements, and to raise shareholder value. Beginning with refining our
base technologies, Mazda is taking a unique approach toward creating next-generation auto-
mobiles, as demonstrated to date in our proprietary Building Block Strategy. The devel-
opment and introduction of i-stop was the first step in this process. The i-ELOOP regenerative
braking technology being introduced in the fiscal year March 2013 is the second step, and as
a third step, we intend to introduce engine drive technologies in the near future.
From 2012, we have begun the full-scale introduction of next-generation products fully
equipped with SKYACTIV technology, and the market will begin to experience the value and
quality of these products. The first product, the new CX-5, is off to a spectacular start and has
exceeded our expectations. We will continue to deliver competitive products and quality that
promises safety and peace of mind, focusing on the customers who support us around the
world, as we develop a strong brand as a “Mazda that earns the absolute satisfaction and
trust of customers.” I would like to thank our shareholders and investors, and all other stake-
holders, for your continued support and cooperation.
Representative Director, Chairman of the Board, President and CEO
Returns to
Shareholders
In Conclusion
Building a “Mazda that earns
the absolute satisfaction and
trust of customers” through
highly competitive products
Public Offering and Subordinated Loan
Overview
Amount procured
Capital increase via public
offering: ¥144.2 billion
Subordinated loan: ¥70.0 billion
Issue price ¥124/share
Amount paid ¥118.88/share
No. of shares issued 1,219 million shares
No. of shares issued
after capital increase 2,999 million shares
Financial indicators after capital increase
As of the end of
December 2011
As of March 31,
2012
Equity ratio 19% 24% 26%*
Net debt-to-equity
ratio 155% 64% 53%*
Book value per share ¥183 ¥157
* After the recognition of equity capital attributes of the
subordinated loan
Mazda Annual Report 2012 9