The company plans to raise 151.2 billion yen in a record share sale in hopes of offsetting what will almost certainly be its worst loss in 11 years.Ī sizable share of that red ink is due to the impact of Japan’s natural disaster last March. has predicted a dismal 100 billion yen loss - or $1.2 billion at current exchange rates - for the current fiscal year. From its global headquarters in Hiroshima, Mazda Motor Corp. The maker isn’t yet saying how many of its employees will be offered voluntary buyouts, but it is expected to follow with additional, involuntary cuts in the coming weeks.
headquarters in California this week as “substantial.” He describes the cuts set to begin at Mazda’s U.S. “It’s a very serious situation because they don’t have a Ford to fall back on or another partner in the wings,” said George Peterson, chief auto analyst with AutoPacific, Inc. With Ford having sold off all but a minimal stake in its Japanese partner and no longer sharing the hefty cost of developing new products, some observers fear that Mazda can no longer go it alone - something even its CEO grudgingly admits may force it to share the SkyActiv system to get some much-needed assistance. Hoping to stand out in an increasingly crowded and competitive market, Mazda is doubling down on a new technology, dubbed SkyActiv, that it claims can deliver most of the benefits of a hybrid at a fraction of the cost.
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