MAZDA MOTOR CORPORATION

Transcription

1 MAZDA MOTOR CORPORATION FY2004 FIRST HALF RESULTS FY2004 FULL YEAR PROJECTIONS MID-TERM PLAN November 9, FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

2 INTRODUCTION FY2004 First Half Operating Profit up 53% from Prior Year FY2004 Full Year Operating Profit Outlook Raised to All-Time Record Mid-Term Plan Mazda Momentum 2 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

3 FY2004 FIRST HALF RESULTS 3 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

4 FIRST HALF FINANCIAL METRICS First Half Change (Billion yen) FY2004 FY2003 Amount Pct. Operating Profit % Ordinary Profit % Profit Before Tax % Net Income % Return on Sales 1.4% 0.9% 0.5 Pts - EPS (Yen/Share) % 4 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

5 CASH FLOW & NET DEBT (Billion yen) FY2004 First Half FY2003 Full Year B/(W) Prior Year End Cash Flow (14.0) Net Debt (5.2) Net Debt-to-Equity 151% 161% 10 Pts Capital Spending FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

6 KEY ASSUMPTIONS First Half FY2004 FY2003 Change WHOLESALES (000) Consolidated % REVENUE ( Bils.) 1, , % EXCHANGE RATES Yen / U.S. Dollar (8) Yen / Euro (1) 6 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

7 REVENUE CHANGES BY DESTINATION FY2004 First Half Compared with FY2003 First Half 15% Vol. & Mix 11 % Exchange (2)% 14% 10% 9% 5% 0% 0% Total Domestic Overseas (Billion yen) FY04 1H 1, FY03 1H 1, FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

8 JAPAN First Half FY2004 FY2003 Change Retail Volume (000) % Market Share 5.0 % 4.9 % 0.1 Pts Successful Introduction of VERISA 8 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

9 UNITED STATES First Half FY2004 FY2003 Change Retail Volume (000) (3) % Market Share 1.6 % 1.6 % 0.0 Pts Strong Mazda3 Demand 9 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

10 EUROPE First Half FY2004 FY2003 Change Retail Volume (000) % Market Share 1.6 % 1.4 % 0.2 Pts Record Sales in Four Countries 10 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

11 OPERATING PROFIT CHANGES FY2004 First Half Compared with FY2003 First Half Billion yen 40 Strong Sales Growth in Europe (10) (20) FY0 4 1H 43.5 FY0 3 1H 28.4 (2.6) (5.2) (30) (21.8) Total Oper. Vol & Mix Exch. Product Enhanc. CR Mktg. Exp. Other Costs 11 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

12 OPERATING PROFIT CHANGES FY2004 First Half Compared with FY2003 First Half Billion yen US$ (3.4) Other (10) (20) (30) FY04 1H 43.5 FY03 1H 28.4 (2.6) (21.8) (5.2) Total Oper. Vol & Mix Exch. Product Enhanc. CR Mktg. Exp. Other Costs 12 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

13 OPERATING PROFIT CHANGES FY2004 First Half Compared with FY2003 First Half Billion yen Product Upgrades and Regulatory Actions 26.3 VE and Other Product Cost Reductions (10) (20) FY0 4 1H 43.5 FY0 3 1H 28.4 (2.6) (5.2) (30) (21.8) Total Oper. Vol & Mix Exch. Product Enhanc. CR Mktg. Exp. Other Costs 13 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

14 OPERATING PROFIT CHANGES FY2004 First Half Compared with FY2003 First Half Billion yen R&D, Customer Actions and Other Costs (10) (20) FY0 4 1H 43.5 FY0 3 1H 28.4 (2.6) (5.2) (30) (21.8) Total Oper. Vol & Mix Exch. Product Enhanc. CR Mktg. Exp. Other Costs 14 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

15 FY2004 FULL YEAR PROJECTIONS 15 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

16 FY2004 FINANCIAL METRICS Full Year Change (Billion yen) FY2004 FY2003 Amount Pct. Operating Profit % Ordinary Profit % Profit Before Tax % Net Income % Return on Sales 1.4% 1.2% 0.2 Pts - EPS (Yen/Share) % 16 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

17 KEY ASSUMPTIONS Full Year FY2004 FY2003 Change WHOLESALES (000) Consolidated 1,130 1,076 * 5 % REVENUE ( Bils.) 2, ,574.7 * 5 % EXCHANGE RATES Yen / U.S. Dollar (6) Yen / Euro (1) * Restated on a 12-month Basis 17 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

18 REVENUE CHANGES BY DESTINATION FY2004 Full Year Compared with FY2003 Full Year 10% 5% 5% Vol. & Mix 7 % Exchange (2)% 2% 7% 0% Total Domestic Overseas (Billion yen) FY04 2, ,850.0 FY03 2, , FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

19 JAPAN Full Year FY2004 FY2003 Change Retail Volume (000) % Market Share 5.0 % 4.7 % 0.3 Pts VERISA and New PREMACY Introduction 19 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

20 UNITED STATES Full Year FY2004 FY2003 Change Retail Volume (000) % Market Share 1.7 % 1.6 % 0.1 Pts Accelerate Key Market Actions 20 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

21 EUROPE Full Year FY2004 FY2003 Change Retail Volume (000) % Market Share 1.6 % 1.4 % 0.2 Pts Continued Strong Momentum 21 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

22 OPERATING PROFIT CHANGES FY2004 Full Year Compared with FY2003 Full Year Billion yen 60 Wholesales up 5% (20) (40) Total Oper. FY FY Vol & Mix (13.1) Exch. (29.1) Product Enhanc. CR Mktg. Exp. (19.8) Other Costs 22 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

23 OPERATING PROFIT CHANGES FY2004 Full Year Compared with FY2003 Full Year Billion yen US$ (7.0) Other (6.1) (20) (40) Total Oper. FY FY Vol & Mix (13.1) Exch. (29.1) Product Enhanc. CR Mktg. Exp. (19.8) Other Costs 23 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

24 OPERATING PROFIT CHANGES FY2004 Full Year Compared with FY2003 Full Year Billion yen Product Upgrades and Regulatory Actions 44.7 VE and Other Product Cost Reductions 3.5 (20) (40) Total Oper. FY FY Vol & Mix (13.1) Exch. (29.1) Product Enhanc. CR Mktg. Exp. (19.8) Other Costs 24 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

25 OPERATING PROFIT CHANGES FY2004 Full Year Compared with FY2003 Full Year Billion yen R&D, Customer Actions and Other Costs 3.5 (20) (40) Total Oper. FY FY Vol & Mix (13.1) Exch. (29.1) Product Enhanc. CR Mktg. Exp. (19.8) Other Costs 25 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

26 IN SUM FY2004 FIRST HALF Operating Profit up 53% from Prior Year Strong Sales in Europe and China Reopened Ujina No.2 FY2004 FULL YEAR Operating Profit Outlook Raised to All-Time Record Further Product Led Growth ABC Cost Reduction Initiative Successful 26 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

27 MAZDA MOMENTUM MID-TERM PLAN 27 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

28 OUTLINE Millennium Plan Status Long-Term Vision Mid-Term Plan Commitments Key Measures Close 28 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

29 MILLENNIUM PLAN STATUS 29 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

30 GROWTH OPERATING PROFIT Billion yen Wholesales (000) FY2004 1,130 FY (14.9) Strong Product Led Growth FY2000 FY2001 FY2002 FY2003 FY FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

31 REFORM & RESTRUCTURING Re-balancing of Production Capacity Reorganization of Subsidiaries ABC Cost Improvement Initiative 31 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

32 FORD SYNERGIES Joint Programs Share of Sales Percent 50% 10% FY2000 FY FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

33 PEOPLE Corporate Culture Change Business Leadership Programs 360 o Peer Reviews People Development Personnel Development Committees Diversity Initiatives Employee Benefit Improvement New Compensation System Work-Life Balance 33 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

34 NEXT PHASE Mazda Momentum 34 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

35 LONG-TERM VISION 35 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

36 LONG-TERM VISION An automotive company that is respected and trusted by customers and stakeholders which: - Delights customers by providing leading-edge products and services with unique Mazda creativity reflecting Japanese heritage - Has a scale enabling global competitiveness Stakeholder Value Brand Product & Tech. Supply People Corporate Social Responsibility 36 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

37 GROWTH & VALUE CREATION Brand Value Financial Results Operating Margins Above 6% Mazda Today Global Efficiency 37 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

38 MAZDA MOMENTUM STRATEGY Profits Full Scale Growth Recovery Millennium Plan Foundation Period Sustain Momentum Mid-Term Plan Long-Term Vision 38 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

39 MID-TERM COMMITMENTS 39 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

40 MAZDA MOMENTUM Establish Foundation for Full Scale Growth Sustain Sales & Profit Momentum Commitment & Execution 40 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

41 MID-TERM PLAN COMMITMENTS FY2006 : Consolidated Wholesales 1,250,000 Operating Profit Over 100 Billion Yen Net Debt / Equity Ratio Below 100% 41 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

42 KEY MEASURES 42 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

43 KEY MEASURES Reinforce Research & Development Strengthen Key Markets Enhance Global Efficiencies and Synergies Leverage Human Resources 43 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

44 REINFORCE RESEARCH & DEVELOPMENT Research & Development Spend Product Environment Safety IT +30% FY2003 FY FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

45 MAZDA ENVIRONMENTAL PYRAMID H 2 RE FCEV HEV Highly Efficient and Clean Engines Recycling 45 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

46 EXPAND PRODUCT LINE-UP Number of New Models Phase 3 Phase 4 Full Freshening of Core Platforms Market Focused Models From Core Platforms 46 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

47 STRENGHTEN KEY MARKETS Launch Market Focused Models Strengthen Distribution Exceed Customer Expectations 47 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

48 JAPAN Strengthen Momentum Actions Introduce New Models Including Mini-vans Tailored for Japan Reinforce Sales Network 30 New Car Outlets 20 Used Car Outlets Customer Satisfaction Levels Strong Dealer Focus 48 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

49 UNITED STATES Accelerate Momentum Actions Introduce Growth Segment Products 3 Unique SUVs Accelerate Dealer Exclusivity 50% by 2006, Advanced by a Year Outstanding Ownership Experience Winner s Circle Program 49 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

50 EUROPE Continue Momentum Actions New European Focused Products Mazda5, Diesel Engines, CO2 Expand Distribution Network Including Russia Long-Term Reliability Build on Reputation 50 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

51 CHINA / OTHER KEY MARKETS Build Momentum Actions China Introduce Growth Segment Products Establish Distribution Company Enter into Domestic Production Other Key Markets Expand ASEAN Distribution Growth in Other Key Markets 51 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

52 GLOBAL EFFICIENCIES AND SYNERGIES Enhance Global Sourcing Global Procurement Working with Ford Enhance Cost Innovation Implement ABC Phase 2 Focused on Commodity Cycle Plans Enhance Supply Chain Management Strengthen Global Logistics, Achieve Integrated Scheduled Production and Build-to-Order Enhanced Global Cost Globally Competitive Below 100 / $ 52 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

53 PEOPLE Improve Management Skills Further Develop Middle Management Leadership Skills Accelerate Development of Next Generation Leaders Global People Development Develop Employees with a Global Perspective Value Individual Creativity Career Development and Flexible Work Environment Create Energetic Mazda 53 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

54 CLOSE 54 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

55 MAZDA MOMENTUM IN SUM Establish Foundation for Full Scale Growth Sustained Sales & Profit Momentum Record Profits Commitment & Execution 55 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

56 56 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan

57 DISCLAIMER The projections for FY 2004 and future strategies shown in this presentation are based on various uncertainties including without limitation the conditions of the world economy in the future, the trend of the automotive industry and the risk of exchange-rate fluctuations. So, please be aware that Mazda's actual performance may differ substantially from the projections. If you are interested in investing in Mazda, you are requested to make a final investment decision at your own risk, taking the foregoing into consideration. Please note that neither Mazda nor any third party providing information shall be responsible for any damage you may suffer due to investment in Mazda based on the information shown in this presentation. 57 FY st Half Results / FY2004 Full Year Projections / Mid-term Plan