Friday, April 28, 2000

New dealerships in Aichi and Gifu

Mazda will establish wholly-owned new dealerships in Aichi and Gifu Prefectures. The new companies will take over businesses and related assets of existing dealerships in each prefecture. (Start of sales in new company is targeted on July 1 2000.)

The aim is to restructure and integrate the existing dealerships in Aichi and Gifu and to strengthen Mazda's sales in both areas through effective use of management resources, unification of sales strategies and improvement of customer satisfaction. Existing dealerships, Aichi Mazda, Mazda Enfini Nagoya, Gifu Mazda and Mazda Enfini Gifu, will be dissolved at the same time as business transfer. We will appropriate bad debt reserves of 269 oku yen that were booked by the fiscal year ending March 31, 2000 for liquidation costs.

The dealerships to be newly established are "Tokai Mazda Sales Co., Ltd." in Aichi and "New-Gifu Mazda Sales Co., Ltd." in Gifu. They will take over businesses from Aichi Mazda Co.,Ltd. and Mazda Enfini Nagoya Co.,Ltd., Gifu Mazda Co.,Ltd. and Mazda Enfini Gifu Co.,Ltd. respectively.

Since the spring 1998, we have implemented the "One-operation program" to improve management efficiency by integrating indirect operation of the dealerships in both prefectures. With our current actions, we intend to further increase management efficiency and also to strengthen their financial foundations, sales and service.

Aichi Prefecture Gifu Prefecture
*Name Tokai Mazda Sales Co., Ltd. New-Gifu Mazda Sales Co., Ltd.
*Capital 20 oku yen 4.9 oku yen
*Location of head office Nagoya City, Aichi Prefecture Hashima-gun, Gifu Prefecture
*Outlets 49 shops 18 shops
*Employees 895 persons 315 persons

Monday, April 10, 2000

Test run of fuel cell vehicles

Mazda to participate in the joint project for the test run of fuel cell vehicles in cooperation with DaimlerChrysler Japan Holding and Nippon Mitsubishi Oil.

Mazda will participate in the joint project for the test run of fuel cell vehicles in Japan with DaimlerChrysler Japan Holding, Ltd. and Nippon Mitsubishi Oil Co., as a member of Ford group. This project is subsidized by the Agency of Natural Resources and Energy, the Ministry of International Trade and Industry.

In October 1999, DaimlerChrysler and Nippon Mitsubishi Oil started working together with a goal to promote fuel cell vehicles in Japan. This test run project is the first joint fuel cell activity in Japan which is organized by car manufacturer and fuel provider. During the test runs, the three companies plan to investigate the driving performance, fuel economy and emissions of fuel cell vehicles as well as suitable fuel choice and infrastructure. Mazda and DaimlerChrysler will bring fuel cell vehicle each, while Nippon Mitsubishi Oil is going to provide the fuel infrastructure. The test runs are scheduled for early next year in Yokohama.

Mazda has been challenging environmental and energy issues, and also making positive steps in the research and development of hybrid vehicles and battery electric vehicles. Placing the fuel cell vehicle as one of the most promising candidates among the alternative fuel vehicles, we have been also striving to develop related technologies. Mazda developed a prototype fuel cell vehicle with its original technologies in December 1997. In April 1998, Mazda joined the alliance for the development of fuel cell technology, which was established by Ford Motor Company, DaimlerChrysler and Ballard Power Systems, through its close relationship with Ford Motor Company. At the 1999 Tokyo Motor Show, we also exhibited a new prototype with the high-performance and compact fuel cell system, using the state-of-the-art technologies by the "Fuel Cell Alliance."

Mazda's product development aims to embody Mazda's brand personality. Mazda's firm commitment to the research and development for the environmental technologies, including the fuel cell vehicles, also support to establish Mazda Brand.
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