Tokyo (dpa) -- Mazda Motor Corp. suffered a net loss of 71.49 billion yen ($736 million) in the fiscal year that ended March 31, the carmaker said on Tuesday.
The loss was a turnaround from a profit of 91.84 billion yen, which the carmaker reported in fiscal 2007.
Mazda said its results were hit by the global economic crisis that slowed down demand for cars and the yen's surge against other major currencies.
Mazda's operating loss came to 28.38 billion yen in the previous business year against a profit of 163.15 billion yen the year before.
Sales plunged 27 per cent to 2.54 trillion yen.
Mazda expects to narrow net losses to 50 billion yen but expanded its operating loss forecast to 50 billion yen for the current fiscal year that began in April. It said its sales were expected to fall to 2.03 trillion yen.