Mazda says quarterly earnings ease on currency exchange impact

TOKYO (Reuters) — Mazda Motor Corp. reported a lower-than-expected operating profit for the third fiscal quarter largely due to a stronger yen against the euro and other currencies, and maintained its outlook for a slightly lower full-year profit.

Operating profit eased 1 percent from a year ago to 47.5 billion yen ($402.37 million) during the October-December quarter, missing forecasts for a 52.9 billion yen profit from eight analysts according to Thomson Reuters data.

Revenue at Japan’s fifth-largest automaker by vehicle sales rose 14.5 percent to 847.3 billion yen due to strong demand for the new version of its M-5 Roadster in Japan and the CX-3 crossover in other regions.

However, a stronger yen against the euro and other currencies weighed on profits, based on a euro rate of 133 yen during the quarter, compared with 143 a year ago.

Mazda’s U.S. sales rose 4.4 percent to 319,183 vehicles in 2015.

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