On February 2, 2012, Mazda announced for the third quarter financial results that it projected to register a net loss of 100 billion JPY in the fiscal year ending in March 2012. When the projection is realized, the car maker is to post a net loss for four consecutive years. The net loss for FY2011 will exceed about 71.5 billion JPY (FY2008), when the Japanese economy was in recession; the accumulated loss amounts to about 238 billion JPY over the four years. The car maker says that, in the changing environment including appreciation of yen and expansion of emerging markets, the loss results from its structural problem, in which it produces a large percentage of its products in Japan and sells them mainly in developed countries.

 In order to solve this structural problem, Mazda announced a structural reform plan that consists of four core programs: (1) Business innovation by next-generation technology - SKYACTIV TECHNOLOGY, (2) Acceleration of further cost improvement through "Monotsukuri Innovation" (manufacturing technology innovation), (3) Reinforcement of business in emerging countries and establishment of global production footprints, and (4) Promotion of global alliances. At the same time, the car maker revised its medium- and long-term outlook (announced in 2010); the operating profit target for FY2015 is revised downward from 170 billion JPY to 150 billion JPY.

 On February 22, 2012, Mazda announced that it would increase capital and raise funds through public stock offerings and loans to receive about 214 billion JPY.

 The following is a summary of Mazda's structural reform plan.

Rerated reports:
Tokyo Motor Show 2011 (Concept TAKERI), Tokyo Motor Show 2011 (SKYACTIV Techonogy)
Mazda: launches vehicles adopting SKYACTIV technology (Nov. 2011)