Mazda 2016 Annual Report Download - page 4

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To Shareholders and Investors
I would first like to express my gratitude for the ongoing support of our
shareholders and investors, and all other stakeholders involved with the
Mazda Group, including customers, suppliers, and local communities.
During the March 2016 fiscal year, we were able to achieve steady
growth, as we leveraged SKYACTIV TECHNOLOGY in the pursuit of
structural reform to increase our brand value by providing unique,
attractive products and services.
Under the Structural Reform Stage 2 medium-term business plan,
which begins with the March 2017 fiscal year, we are working toward
continuous future growth by offering attractive products that deliver
both driving pleasure and outstanding environmental and safety perfor-
mance as well as the further enhancement of brand value through quali-
tative growth in all areas of our business, including product development
and manufacturing quality, sales quality, and financial soundness.
Our management targets for the March 2019 fiscal year, the final year
under the plan, are for global sales volume of 1.65 million units, an oper-
ating income ratio of at least 7%, an equity ratio of at least 45%, and a
dividend payout ratio of at least 20%. Along with strengthening our
financial base, we will work for steady increases in returns to shareholders.
I would like to ask all shareholders and investors for your further
support going forward.
August 2016
Masamichi Kogai
Representative Director,
President and CEO
MAZDA ANNUAL REPORT 2016
2Message from
Management
Review of Operations
Drivers of Value Creation
Foundations Underpinning
Sustainable Growth
Financial Section
Contents