MAZDA SEES 50.8 PCT DROP IN 1986/87 CURRENT PROFIT
Mazda Motor Corp <MAZT.T> predicted a
parent company current profit of 10 billion yen in the year
ending October 31, 1987, down 50.8 pct from a year earlier,
assuming a yen/dollar value at 147 yen, vice president
Yoshihiro Wada told a press conference.
    Sales in 1986/87 were estimated at 1,640 billion yen, up
0.9 pct from a year earlier.
    The company earlier posted a parent net profit of 1.59
billion in the first half ended April 30, down 76.9 pct from a
year earlier, on sales of 804.02 billion, down 4.2 pct.
    The fall was due to the yen rise against the dollar which
cut 55 billion yen off sales, Wada said. The average value of
the dollar was 155 yen in the period from 190 a year earlier.
    Mazda estimated vehicle exports at 1.12 mln, including kit
parts, in the year to October 31, up 6.8 pct from a year
earlier, and domestic sales at 360,000, up 0.8 pct, he said.
    Kit exports should rise because kits sold to Kia Motor Corp
<KIAM.SE> unit <Kia Industrial Corp>, which is eight pct owned
by Mazda, and to a Mexico unit of Ford Motor Co <F> will rise
to 150,000 from 9,000, pushing kit exports up 45.3 pct to
260,000, he said.
    Mazda has yet to decide whether to pay an unchanged four
yen dividend for the second half, but it will pay an unchanged
3.50 yen for the first half, Wada said.
 REUTER
