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  • William Maley
    William Maley

    Mazda Looking To Raise $2 Billion

    William Maley

    Editor/Reporter - CheersandGears.com

    February 22, 2012

    As we reported last week, Mazda isn’t doing so well. The company posted a $1.29 loss for 2011. To sure up its finances, Mazda is looking to raise 100 billion yen ($1.3 billion) through a public share offering, which would dilute the current share value by a massive 38.7%. Mazda will also seek loans of 70 billion yen from a number of Japanese banks.

    The monies would be used to bolster Mazda's overseas production facilities. Currently, 70% of Mazda vehicles are produced in Japan and 90% of those are exported. To fight back at rising yen (which is causing many problems for Mazda), they looking to renovate a plant in Thailand and build a new one on Mexico.

    The question remains if these moves will help Mazda keep its independence.

    Source: Reuters

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