Mazda reaches record operating profit in 2013/14 fiscal year image

Mazda said in a statement that thanks to the weak yen and strong demand for the Mazda3 compact model, it’s expecting to achieve a record profit this financial year, and decided to raise its annual operating profit forecast by 12.5 % to 180 billion yen ($1.8 billion).

After the company last year only had a 53.9 billion yen in annual operating profit, this year’s forecasted profit should exceed by a comfortable margin the record 162.1 billion yen it booked in the year ending March 2008, while also falling in line with analysts predictions of 182.3 billion yen.

Mazda also released details about its October-December third quarter, where it handily beat all expectations, making 50.6 billion yen in operating profit, which is six times more than what it earned in the same period last year.

The Japanese automaker, which currently ranks fifth among local manufacturers, also announced it decided to pay a dividend of 1 yen for this financial year that ends in March, the first time to do so in four years – back then it last paid them for the year ended March 2010 when it gave 3 yen.