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Mazda Motor fiscal Q1 profit climbs YOY

Mazda Motor Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥57.63 per share, a gain from ¥9.15 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥34.45 billion, a gain from ¥5.47 billion in the prior-year period.

The normalized profit margin increased to 4.9% from 0.9% in the year-earlier period.

Total revenue grew 14.6% year over year to ¥705.64 billion from ¥615.85 billion, and total operating expenses climbed 12.1% on an annual basis to ¥649.26 billion from ¥579.34 billion.

Reported net income increased from the prior-year period to ¥48.89 billion, or ¥81.78 per share, from ¥5.46 billion, or ¥9.13 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.