Mazda Advancement Plan Established
In Mazda Momentum, the medium-term plan that covered the three years from 2004 to 2006, we aimed for product-led growth and the development of infrastructure for full-scale future growth. This plan focused on the steadily implementation of measures such as reinforcing research and development, strengthening key markets, enhancing global efficiencies and synergies and leveraging human resources. As a result, we were able to achieve our numerical targets of consolidated operating income of at least ¥100 billion and a net debt-to-equity ratio of 100% or less one year early. However, our consolidated wholesales target of 1.25 million units was affected by a drop in internal demand, an increasingly competitive market, as well as our focus on brand building, meaning we only achieved sales of 1.177 million units.
In March 2007, we announced our new mid-term plan, the Mazda Advancement Plan, covering the four fiscal years from 2007 to 2010. This period will be one of accelerating structural reforms centered on manufacturing innovation built upon our long-established foundations, and a planning period for advancement into the future. The plan targets 1.6 million units in global retail sales, a consolidated operating income of over ¥200 billion, consolidated operating income ratio of 6% and a stable payout of dividends by FY2010.
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