Mazda says aims to post $2.3 bln operating profit by 2015/16

TOKYO, April 25 Fri Apr 25, 2014 1:40pm IST

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TOKYO, April 25 (Reuters) - Mazda Motor Corp raised its mid-term profit target on Friday and said it aims to post 230 billion yen ($2.3 billion) in annual operating profit by the financial year ending in March 2016 after it hit its earlier target two years in advance.

Japan's fifth biggest automaker by sales volume posted record 182.1 billion yen in operating profit for the financial year that ended in March, surpassing the previous mid-term profit goal of 150 billion yen, buoyed by a weaker yen that made its exporting business more profitable.

Mazda cut its global sales target in its mid-term target by 11 percent to 1.52 million vehicles, however. ($1 = 102.2350 Japanese Yen) (Reporting by Yoko Kubota; Editing by Dominic Lau)

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