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09.11.2020

Mazda posts quarterly loss amid the pandemic

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The company kept its full-year forecast for an operating loss of 40 billion yen

Stocks impacted: Mazda Motor Corp (7261)

Mazda posted a 7.59-billion-yen ($73.4 million) operating loss in the three months ended September 30 amid the declining sales because of the coronavirus pandemic. The loss compares with an 18.9-billion profit in the same quarter last year. The loss in the first three months of the business year arrived at 45.3 billion yen, its worst in quarter in 11 years. Japan's automaker posted a smaller loss in the second quarter due to a rebound in sales in its biggest market, North America. Vehicle sales there rose 1% from a year earlier. The company kept its full-year forecast for an operating loss of 40 billion yen. Mazda stocks shed 2.85% following the report despite the overall positive tone in the Asian markets on Monday, with Nikkei 225 in Japan jumping to a 29-year high after Joe Biden clinched the U.S. presidency.

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