Mazda Motor (7261) Q4 2025 earnings summary

Executive summary

• Global sales volume reached 1,303,000 units, up 5% year-over-year, with record sales in North America despite declines in Japan, Europe, China, and other markets.

• Net sales hit a record ¥5,018.9 billion, up 4% from the previous year.

• Operating income declined 26% to ¥186.1 billion, and net income fell 45% to ¥114.1 billion, impacted by higher costs and negative currency effects.

• New product launches included the CX-70, CX-80, and electrified EZ-6 in China, supporting sales growth.

• Free cash flow remained positive at ¥105.7 billion.

Financial highlights

• Operating income: ¥186.1 billion (–25.7% year-over-year); net income: ¥114.1 billion (–45.1%).

• Net sales: ¥5,018.9 billion (+4.0% year-over-year); gross margin improved to ¥1,078.2 billion.

• EPS dropped to ¥181.0 from ¥329.6 year-over-year.

• Cash and cash equivalents increased to ¥1,105.6 billion, and net cash rose to ¥400.3 billion.

• Equity ratio declined to 43.8% (down from 45.8%).

Outlook and guidance

• No consolidated financial forecast for FY March 2026 due to uncertainty from U.S. tariff policy and global economic risks; guidance will be provided with first quarter results.