Mazda 2014 Annual Report Download
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Table of contents
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Page 1
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Page 2
...Executive Vice President
In this section, Executive Vice President Akira Marumoto covers the investment plans and efforts to strengthen the Group's financial base that Mazda will advance toward qualitative growth.
Review of Operations
16 18 Global Network Review by Market
Japan North America Europe...
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Page 3
... Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
01
Financial Section
Mazda is an automobile manufacturer that was established in 1920. In 2007, the Company formulated its "Sustainable Zoom...
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Page 4
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
02
Financial Section
SKYACTIV TECHNOLOGY
Innovative Technology Redesigned from Scratch
Taking the car's basics back to the drawing board, ...
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Page 5
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
03
Financial Section
KODO: SOUL of MOTION
Breathing Life into the Car. That's Mazda's Design Philosophy.
A car isn't simply a mass of ...
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Page 6
... rolled out globally, with orders in Japan far surpassing our
sales plan, and a very strong reception overseas in Europe and the United States, being named among the top three finalists for both the 2014 World Car of the Year and the 2014 World Car Design of the Year awards. The Mazda CX-5 and the...
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Page 7
... plant in Mexico began production of the new Mazda3 for North America in January 2014 as scheduled. The construction of our new engine machining factory in Mexico and our new transmission plant in Thailand are also on track. In line with increasing global sales of SKYACTIV-equipped
models, in Japan...
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Page 8
... Reform Plan, leveraging the competitiveness of SKYACTIV-equipped models.
March 2016 Fiscal Year Management Targets
Initial Global sales volume New
Four Initiatives of Our Structural Reform Plan, and Future Actions
1.70
million units
1.52
million units
Business Innovation by SKYACTIV TECHNOLOGY...
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Page 9
... more
Mazda Brand Value
Maximize customer satisfaction by providing Mazda unique products / services with driving pleasure
(driving performance / design / environment & safety / customer care)
Â¥230.0 billion
162.1 4.7 53.9 (38.7) (1.9)
(Years ended March 31) Global sales volume (1,000 units) US...
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Page 10
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
08
Financial Section
Interview with the Executive Vice President
Working toward qualitative growth, along with quantitative growth, to ...
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Page 11
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
09
Financial Section
developed markets including Japan, the United States, and Europe, and the revision was mainly a lowering of our ...
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Page 12
... Mazda cars. This marked the fullscale start of Brand Value Management initiatives.
Mazda Brand Value Management
Mazda Brand Value
Maximize customer satisfaction by providing Mazda unique products / services with driving pleasure
(driving performance / design / environment & safety / customer care...
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Page 13
...
70% 50% 30%
2012 2013 2014 2015 2016
(Years ended March 31)
M{zd{2
Super-Compact Car
The all-new Demio brings a level of functionality and added-value exceeding the expectations for a car of this class by evolving the concepts and technologies cultivated through the development of earlier next...
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Page 14
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
12
Financial Section
SPECIAL FEATURE
Enhancing lineup of SKYACTIV products Realizing both right-price sales and volume growth Reinforcing ...
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Page 15
... in unit numbers over the medium to long term and also improve profitability.
Sales Trends in the United States
Thousands of units
CHECK
Trends in Net Sales by Unit in Each Country
United States
Significant improvement after introduction of SKYACTIVequipped models
2012
2013
2014
(Years ended...
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Page 16
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
14
Financial Section
SPECIAL FEATURE
Enhancing lineup of SKYACTIV products Realizing both right-price sales and volume growth Reinforcing ...
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Page 17
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
15
Financial Section
SPECIAL FEATURE
Enhancing lineup of SKYACTIV products Realizing both right-price sales and volume growth Reinforcing ...
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Page 18
... Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
16
Financial Section
Global Network
Years ended March 31 Graphs on the map are unit sales by market (Thousands of units)
207 183 172 223 196 175 206 216
244 268 273
284
72
72
70
2012
2013
2014...
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Page 19
... Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
17
Financial Section
MAJOR FACILITIES Japan
Headquarters
1 2 3 4
Trends in Production Volume
(Number of dealerships: 1,044)
China
Regional...
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Page 20
...that enjoys a special bond with our customers.
New Mazda Axela (Sedan)
Sales Volume
Thousands of units / %
244 206 206 216
230
4.5 4.3 4.2 2011
Sales Volume Market Share
4.3
March 2015 Fiscal Year Forecast
2014 2015 (Forecast)
(Years ended March 31)
2012
2013
With regard to total demand in...
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Page 21
... terms.
New Mazda3 5-door hatchback (North American specification)
Sales Volume
Thousands of units / %
120 104 2.0 238 104 2.0 268 99 1.9 273 107 1.8 284 320
2011
2012
2013
2014
2015 (Forecast)
(Years ended March 31)
March 2015 Fiscal Year Forecast
Overall demand in North America...
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Page 22
... Europe understand more about the Mazda brand, in a unique approach that is typically Mazda.
New Mazda6 Wagon (European specification)
Sales Volume
Thousands of units / %
212 183 172
207
220
1.2 1.0 1.0
1.2
2011
Sales Volume Market Share
2012
2013
2014
2015 (Forecast)
(Years ended...
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Page 23
...
Financial Section
China
Sales Volume
Thousands of units / %
Other Markets
Sales Volume
Thousands of units
236
223 175 1.3 1.2 196
230
277
300 263
293
300
0.9
0.9
2011
CX-5 (China specification) Sales Volume Market Share
2012
2013
2014
2015 (Forecast)
(Years ended March 31)
2011
CX...
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Page 24
... for: North America, Central and South America, Europe Investment: Approx. US$770 million Investment ratio: Mazda 70%, Sumitomo Corporation 30% Number of employees: Approx. 3,100 (January 2014) Approx. 4,600 (when fully operational) Start of volume production: January 2014 Annual production capacity...
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Page 25
... million units (July 2014)
Hofu Plant
Hiroshima Plant
Central and South America
MMVO
Mexico Plant constructed Mexico Plant production commenced (January 2014) Planned operation of engine machining plant (October 2014)
Aerial view of MMVO
China
CFME*1 CMA*2 FAW car
New Mazda3Axela
Started local...
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Page 26
...
24
Financial Section
Major Product Lineup
New Mazda2 (Japanese name: Demio) Mazda2 (Japanese name: Demio) Verisa
Sales markets and production bases: â- Japan â- North America â- Europe â- China â- Other markets *1. Global sales volume is for the March 2014 fiscal year; sales markets and...
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Page 27
... Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
25
Financial Section
Long-Term Vision for Technology Development
"Sustainable Zoom-Zoom" Basic Approach to the Environment
As vehicle ownership...
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Page 28
... Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
26
Financial Section
Long-Term Vision for Technology Development
Building-Block Strategy
We anticipate that petroleum resources will still be the main energy and internal combustion engines the main drive...
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Page 29
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
27
Financial Section
SKYACTIV TECHNOLOGY
Three Main Technologies to Achieve Dramatic Improvements in Functionality
Engines that combine ...
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Page 30
... 2013-2014 -(Not yet assessed) United States NHTSA NCAP*2 5 Stars 2015 Model Year 2015 Model Year 2015 Model Year TSP+ 2014 2014 2014 Europe 5 Stars 2012 2013 2013 IIHS Rating*3 Euro NCAP*4
*1. Japan New Car Assessment Program: An overall assessment of safety performance conducted by the National...
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Page 31
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
29
Financial Section
Monotsukuri Innovation
Achieving diversity to meet various customer needs while reducing costs
Increasing the number ...
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Page 32
... to the development of a sustainable society.
Mazda Group companies in Japan
Mazda Group companies overseas
Six Areas of CSR Operations
Customer Satisfaction • Commitment to customers (quality, products, sales, and after-sales service) • Safety initiatives, etc. • Energy- and global-warming...
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Page 33
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
31
Financial Section
Business Management System
Corporate Governance
Mazda views the enhancement of corporate governance as one of its ...
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Page 34
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
32
Financial Section
consideration is given to whether the appropriate business conduct of the certified public accountants and others was...
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Page 35
...Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
33
Financial Section
Protection of Personal Information
Mazda rigorously protects personal information in line with its own Personal Information...
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Page 36
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
34
Financial Section
Directors, Audit & Supervisory Board Members, and Executive Officers (As of June 27, 2014)
Directors
Seita Kanai
...
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Page 37
... Executive Officers*
Takashi Furutama
In charge of Corporate Planning, Profit Control and Global IT Solution
Yuji Harada
Oversight of Fleet Sales No. 2 and Financial Services; In charge of CSR, Environment and Global Corporate Communications
Jeffrey H. Guyton
President and CEO, Mazda Motor Europe...
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Page 38
... Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
36
Financial Section
Eleven-Year Summary of Consolidated Financial Statements
Millions of yen 2014 2013 2012 2011 2010 2009
Mazda Motor Corporation and Consolidated Subsidiaries Years ended March...
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Page 39
...year, as orders for the new Axela far exceeded the target, and sales of the Atenza and CX-5 remained strong. Sales volume in North America was 391,000 units, up 4.9% year on year, with increased volume in the United States on
strong sales of the Mazda6 and CX-5 and record sales in Mexico. In Europe...
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Page 40
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
38
Financial Section
increased ¥19.2 billion due to such factors as strengthened sales promotion activities, and other fixed costs ...
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Page 41
... share. Mazda will be utilizing its internal reserves to invest in such areas as plant and equipment and for R&D expenses to enhance its competitiveness.
Forecast for the March 2015 Fiscal Year
Billions of yen
(Years ended March 31)
Forecast for Global Sales Volume
Thousands of units
(Years ended...
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Page 42
..., declining demand, and intensifying price competition in its main markets. 2. Exchange Rates, Especially the Dollar-Yen and Euro-Yen Rates The Group exports products from Japan to other parts of the world and consequently its business results and financial position
are exposed to the effects...
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Page 43
... boost its competitiveness in product development, manufacturing, sales, and other areas. However, the Group's business results and financial position could be affected in the event that it fails to launch appealing products at opportune times, due to a failure to accurately ascertain market trends...
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Page 44
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
42
Financial Section
1 1 . Financial Accounting Including the financial accounting factors set out below, the Group's operating results ...
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Page 45
... Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
43
Financial Section
Consolidated Balance Sheets
ASSETS 2014
Mazda Motor Corporation and Consolidated Subsidiaries March 31, 2014 and 2013...
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Page 46
... Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
44
Financial Section
Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income
Millions of yen 2014 2013 Thousands of U.S. dollars (Note 1) 2014
Mazda Motor Corporation...
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Page 47
... Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
45
Financial Section
Consolidated Statements of Changes in Net Assets
Capital and retained earnings
Mazda Motor Corporation and Consolidated Subsidiaries Years ended March 31, 2014 and 2013
Common stock...
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Page 48
... Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
46
Financial Section
Consolidated Statements of Cash Flows
Millions of yen 2014 2013
Mazda Motor Corporation and Consolidated Subsidiaries Years ended March 31, 2014 and 2013
Thousands of U.S. dollars...
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Page 49
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
47
Financial Section
Notes to Consolidated Financial Statements
1
Mazda Motor Corporation and Consolidated Subsidiaries
BASIS OF ...
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Page 50
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
48
Financial Section
are stated at fair market value and the difference between fair market value and the carrying amount is recognized as...
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Page 51
...Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
49
Financial Section
The Company and its wholly owned domestic subsidiaries elect to file a consolidated corporate tax return as a consolidation...
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Page 52
... net position. Short-term investments consist mainly of certificates of deposit and other highly-liquid short-term investments. Investment securities consist mainly of stocks of our business partner companies and are subject to the risk of market price fluctuations and other factors. Long-term loans...
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Page 53
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
51
Financial Section
As regards short-term investments and investment securities, their fair values as well as the financial standing of ...
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Page 54
... Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
52
Financial Section
Basis of measuring fair value of financial instruments The fair values of some financial instruments are based on market...
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Page 55
... Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
53
Financial Section
5
SECURITIES
The Group had no trading or held-to-maturity debt securities at March 31, 2014 and 2013. Available-for-sale...
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Page 56
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
54
Financial Section
9
SHORT-TERM DEBT AND LONG-TERM DEBT
The assets pledged as collateral for short-term debt of ¥30,412 million ($295,...
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Page 57
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
55
Financial Section
The profits and losses related to retirement benefits for the year ended March 31, 2013 were as follows:
Millions of ...
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Page 58
... paid for new shares is required to be designated as common stock. However, a company may, by a resolution of the Board of Directors, designate an amount not exceeding one half of the price of the new shares as additional paid-in capital, which is included in capital surplus. Under the Corporate...
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Page 59
... Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
57
Financial Section
13
OTHER INCOME / (EXPENSES)
The components of "Other, net" in Other income/(expenses) in the consolidated statements of income for the years ended March 31, 2014 and 2013 were...
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Page 60
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
58
Financial Section
(Additional Information) (Adjustment of deferred tax assets and liabilities for enacted changes in tax laws and rates...
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Page 61
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
59
Financial Section
Millions of yen As of March 31, 2013 Contract amount Estimated fair value Difference As of March 31, 2013 Contract ...
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Page 62
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
60
Financial Section
17
SEGMENT INFORMATION
Overview of reportable segments The reportable segments of the Company consist of business ...
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Page 63
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
61
Financial Section
Millions of yen Reportable segments For the year ended March 31, 2013 Japan North America Europe Other areas Total ...
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Page 64
.... As a listed corporation, the Company respects the purport of this plan and is going to change its shares per share unit to 100 shares. The Company is also going to consolidate five shares into one share in order to achieve an investment unit deemed desirable by Japan's stock exchanges (50,000 yen...
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Page 65
Mazda Annual Report 2014
Introduction Message from Management Brand Value Management Review of Operations Foundations Underpinning Sustainable Growth
CONTENTS
63
Financial Section
Independent Auditor's Report
To the Board of Directors of Mazda Motor Corporation: We have audited the accompanying ...
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Page 66
... 730-8670, Japan Phone: +81 (82) 282-1111 Manufacture and sales of passenger cars and commercial vehicles Head Office, Mazda R&D Center (Yokohama), Mazda North American Operations (USA), Mazda Motor Europe (Germany), China Engineering Support Center (China) Japan: Hiroshima Plant (Head Office, Ujina...
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