Mazda posts record profit
Afp, Tokyo
Japan's fifth largest automaker Mazda Motor said Wednesday its net profit soared 66 percent to a record in the six months to September, driven by increased vehicle sales in China and Japan. Mazda posted a group net profit of 31.09 billion yen (274.7 million dollars) as rising sales along with cost-cuts more than offset the impact of higher prices for raw materials such as steel. "Retail sales in China are now rising at a faster-than-expected pace and it is so strong that we do not have sufficient inventory there," Mazda deputy general manager Nobuyoshi Tochio told a news conference here.
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