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Mazda Forecasts 5 Billion Yen in Net Income This Fiscal Year

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April 27 (Bloomberg) -- Mazda Motor Corp., Japan’s second-largest car exporter, expects to earn 5 billion yen ($53.3 million) in profit this fiscal year on a global sales recovery.

Mazda, based in Hiroshima, western Japan, will swing to profit from a 6.48 billion yen loss in the year ended March 31, the company said in a statement today. Sales may rise to 2.3 trillion yen from 2.16 trillion yen.

“Mazda’s sales will rise, mainly helped by the Mazda2 compact,” said Kohei Takahashi, an analyst at JPMorgan Chase & Co. in Tokyo. “Profit will improve from last year, but it’s still at a low level” because of its weak model line-up.

Mazda shares gained 1.4 percent to 281 yen in Tokyo.

To contact the reporter on this story: Makiko Kitamura in Tokyo at mkitamura1@bloomberg.net.

To contact the editors responsible for this story: Kae Inoue kinoue@bloomberg.net

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