Mazda returns to profit in H1 FY2027: Record revenue, JPY 59.1 billion operating income

Mazda Motor Corporation has reported its financial results for the first half of the 2027 financial year, covering the six months ended 30 September 2026.

The automaker recorded a new half-year revenue high and returned to operating and net profit, supported by strong demand for the new CX-5 and its growing range of electrified models.

Financial performance

Mazda's net sales reached JPY 2,688.1 billion (approximately RM 68.67 billion), up 20.1% year on year. This was an increase of JPY 449.6 billion (around RM 11.48 billion) and a record for the first half of a financial year.

Operating income came to JPY 59.124 billion (approximately RM 1.51 billion), compared with an operating loss of JPY 53.879 billion (around RM 1.38 billion) in the same period last year. The operating margin was 2.2%.

Ordinary income reached JPY 72.835 billion (approximately RM 1.86 billion), reversing a loss of JPY 21.294 billion (around RM 544 million) a year earlier.

Net profit attributable to owners of the parent totalled JPY 44.225 billion (approximately RM 1.13 billion), compared with a net loss of JPY 45.284 billion (around RM 1.16 billion) in the previous year.

Mazda also maintained a net cash position. At the end of September 2026, its net cash stood at JPY 398.1 billion (approximately RM 10.17 billion). The equity ratio improved to 43.6%, or 44.4% when the equity characteristics of subordinated loans are taken into account.

Sales performance across key markets

Mazda's global retail sales rose 1.2% year on year to 617,000 units in the first half of FY2027. Consolidated wholesale volume increased by 8% to 584,000 units.

North America

The US remained Mazda's largest market, with sales rising 3% to 216,000 units, a record for the first half of a financial year. Sales of the new-generation CX-5 grew 4% year on year, helping the model gain further ground in the compact crossover SUV (C-CUV) segment.

Mexico also delivered strong growth. Sales climbed 11% to 54,000 units, and Mazda reached the milestone of one million cumulative sales in the country in September 2026.

Europe

Mazda sold 85,000 vehicles in Europe, up 16.1% year on year. Demand for the new CX-5 was strong, while the Mazda6e and CX-6e, which went on sale in August, also contributed to growth. The company attributed stronger demand for BEVs partly to local incentives and high fuel prices.

Japan

Domestic sales rose 6.1% to 72,000 units. The CX-5 doubled its sales to over 20,000 units, supported by the introduction of new models. Mazda also reported growing interest from younger buyers and first-time customers.

Read Also: Mazda completes new Hiroshima KD centre to support overseas production, shorter waiting times ahead?

 New Hiroshima Dejima KD Centre

China

Sales in China increased 6.3% to 34,000 units despite intense competition. Models such as the EZ-60 supported growth. Mazda also began selling models equipped with more advanced Level 2++ driver assistance technology in October.

Australia and ASEAN

Mazda sold 37,000 vehicles in Australia, down 18% year on year. The company plans to respond to changing market conditions by promoting the new CX-5, Mazda6e and CX-6e.

In Thailand, the CX-6e went on sale in October. Mazda is also progressing preparations for production of the next-generation CX-3 at its AutoAlliance Thailand (AAT) plant.

Read Also: New-gen Mazda CX-3 coming in 2027 – Thai-built SUV to replace Mazda2 as entry-level model

Full-year forecast unchanged

Mazda has maintained its full-year outlook despite external uncertainties, including exchange rate fluctuations, geopolitical risks, supply chain pressures and changes in raw material costs.

For FY2027, the company forecasts:

• Net sales: JPY 5,500 billion (approximately RM 140.5 billion), up 11.8% year on year
• Operating profit: JPY 150 billion (approximately RM 3.83 billion), up 190.8%
• Net profit attributable to owners of the parent: JPY 90 billion (approximately RM 2.30 billion), up 156.5%
• Global retail sales: 1.297 million units, up 6.1%

Mazda expects to pay an annual dividend of JPY 55 per share, comprising an interim dividend of JPY 25 and a forecast year-end dividend of JPY 30.

Priorities for the second half

Mazda will focus on improving sales and profitability through new products, cost reductions and more disciplined investment in the second half of FY2027.

The new CX-5, Mazda6e and CX-6e will be central to its efforts to increase wholesale volumes. The company also plans to refine pricing and its model mix, while keeping sales incentives under control.

Cost reduction will remain another priority. Mazda is working with suppliers on improvements across materials, vehicle design and production.

Its collaboration with Nippon Steel aims to reduce body steel weight by 10% through changes made at the material and design stages. A separate project with Yazaki aims to cut wiring harness variants by 80%, while increasing localisation and automation.

The company will also keep a close watch on external risks, including geopolitical developments, currency movements, raw material prices and tariff policies. It plans to review and prioritise growth investments more carefully as it works towards its full-year targets.