Mazda 2013 Annual Report Download - page 32

Management Review and Analysis
Review of Operations
(Operating Environment)
The Mazda Group’s operating environment in the March 2013
fiscal year showed a trend of recovery in the U.S. economy, but
at a slow pace, and indications that Europe’s economic weakness
is set to continue for some time. In emerging markets, although
the pace of economic growth rebounded in some areas, the
overall sluggish trend continued. In Japan, the economy was
supported by demand for reconstruction from the Great East
Japan Earthquake, and with the correction of the yen’s appre-
ciation there were hopes for an economic recovery as the envi-
ronment for exports improved, but concerns of weakness in
overseas economies meant that the outlook remained
uncertain. In this situation, the Group strove to improve its
earnings structure through the steady implementation of the
main measures of the Structural Reform Plan, and successive
introduction in major markets of vehicles equipped with new-
generation SKYACTIV TECHNOLOGY, which thoroughly improves
the base technologies of a vehicle’s core performance.
(Global Sales Volume)
By market, Mazda’s domestic sales volume grew 5.2%, to
216,000 units, on strong sales of the Mazda CX-5 and the new
Mazda6 (Japanese name: Mazda Atenza). Overseas, North
American sales were roughly flat with the previous year at
372,000 units. European sales declined 6.2%, to 172,000 units,
but the CX-5 maintained solid sales. Sales in China declined
21.5%, to 175,000 units, but are showing a trend of recovery.
Other markets recorded a 13.5% increase, to 300,000 units, as
sales remained firm in Australia and the ASEAN region.
In total, global sales volume declined 1.0%, to 1,235,000
units. Consolidated wholesales rose 3.6%, to 1,053,000 units.
(Net Sales)
Net sales rose ¥172.2 billion (8.5%), to ¥2,205.3 billion, on
increased wholesales and an improved model mix. The
breakdown of consolidated net sales was a 9.8% increase in
overseas sales, to ¥1,617.2 billion, and a 5.0% increase in
domestic sales, to ¥588.0 billion.
By product, vehicle sales increased ¥243.1 billion (16.1%), to
¥1,753.9 billion, on improvements in sales volume and the model
mix. Sales of knockdown parts for overseas production declined
¥37.2 billion (39.9%), to ¥55.9 billion, on a drop in shipments to
China. Sales of parts decreased ¥10.4 billion (5.2%), to ¥189.7
billion, and other sales were ¥23.3 billion (10.2%) lower, at
¥205.7 billion.
(Operating Income)
Operating income rose ¥92.7 billion, to a ¥53.9 billion profit
from the previous year’s ¥38.7 billion loss. Increased sales of the
SKYACTIV-equipped CX-5 and new Mazda6, which generate
profit even in a strong-yen environment, led to a large
improvement in volume and the product mix. In addition,
improvement of the profitability of exported vehicles due to the
correction of the yen’s appreciation against major currencies
and costs improvement through Monotsukuri Innovation
contributed to the improvement in operating income.
2009 2010 2011 2012 2013
1,261 1,193 1,273 1,247 1,235
Global Sales Volume
Thousands of units
Net Sales/Operating Income/Net Income
Billions of yen
(28.4)
(71.5)
(6.5)
(60.0)
(107.7)
9.5 23.8 (38.7) 34.3
53.9
2,535.9 2,163.9 2,325.7 2,033.1 2,205.3
2009 2010 2011 2012 2013
Net sales
Operating income
Net income
(Years ended March 31) (Years ended March 31)
Mazda Annual Report 2013
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