Mazda Motor (7261) Q3 2025 earnings summary

Executive summary

• Nine-month global sales volume reached 966,000 units, up 4% year-over-year, with net sales of ¥3,689.4B, operating income of ¥148.3B, and net income of ¥90.6B.

• Record high annual sales in the US and Mexico, driven by CX-50 and Large product improvements, offset declines in Japan and China.

• Production and shipments of two models were temporarily suspended due to type designation test irregularities, but resumed in July after compliance confirmation.

• Full-year profit forecast unchanged; global sales volume expected at 1.33M units and net sales at ¥5T.

Financial highlights

• Nine-month net sales rose 3.4% year-over-year to ¥3,689.4B; operating income fell 25.9% to ¥148.3B; net income dropped 45.3% to ¥90.6B.

• Third quarter net sales increased 4% year-over-year to ¥1,295.5B; operating income declined 36% to ¥45.3B.

• Gross profit increased to ¥794.1B, but SG&A expenses rose to ¥645.8B.

• EPS for nine months was ¥143.7, down ¥119.0 year-over-year.

• Comprehensive income for the period was ¥95.6B, down from ¥215.7B year-over-year.

Outlook and guidance

• Full-year forecast: net sales ¥5T (+4%), operating income ¥200B (-20%), net income ¥140B (-33%) year-over-year, EPS ¥222.10.

• Global sales volume forecast at 1.33M units (+7% year-over-year), with North America up 18% and China down 20%.

• Exchange rate assumptions revised to USD/JPY 153 and EUR/JPY 164; China sales forecast reduced by 20,000 units.