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Mazda's first profit in five years in sight due to weak yen

Automotive News reports Mazda is set to turn a profit for the first time in five years. The automaker is more dependent on exports from Japan than other automakers based in that country, and as a result, it has long suffered at the hands of a strong yen. But the currency has declined in value by some 16 percent over the past six months and Mazda's shares have tripled in value to their highest level since 2008. Contrast this situation to a year ago when Mazda printed 1.22 billion new shares to raise cash. The move was equivalent to 70 percent of the company's then-outstanding stock, and values tumbled to record lows as a result.
Now that the yen has fallen to a value of around 96 per dollar, Mazda operations in the US are more profitable and the company now projects it will earn around $279 million for the next fiscal year. Automotive News says a one yen change against the dollar can have a 9.1 percent impact on Mazda operating profit compared to 4.7 percent at Subaru parent Fuji Heavy Industries or 3.1 percent at Toyota. Those automakers better insulate themselves from currency fluctuations with overseas manufacturing facilities.

Watch this 1,500-hp Mazda MX-5 smoke a race track

In December 2014 we watched New Zealand drifter "Mad Mike" Whiddett assemble his RADBUL, an NC-series Mazda MX-5 Miata with a four-rotor engine aided by twin Garrett turbochargers. The Dr. Frankensteins at engine builders Pulse Performance expected their creation to be good for 1,500 horsepower. This year we get to watch Whiddett run the monster around Highlands Motorsports Park in New Zealand, brewing up enough tire smoke to set of fire alarms in the International Space Station. When the car was finished in February Pulse Performance put it on the dyno, toning down the boost because "the tires easily smoked the rollers." The result on the day was 1,032 horsepower from the 2.6-liter engine. When Whiddett campaigned it at the Forth Worth, TX round of this year's Formula Drift Pro Championship, he said tiny adjustments have a huge effect on the way the car behaves so they were still trying to find the right balance a few months into the season because of the testing limit outside of competition. Unsurprisingly, he also said the car "is so damn fast that I'm actually having trouble slowing down." RADBUL is the third in Whiddett's line of Mazda drift specials, after the RX-8 BADBUL and the RX-7 MADBUL. Check out the video above for the ballet, and for more, check out the behind-the-scenes and the 360-degree POV videos.

Reminder: Come hang out with Autoblog and the 2016 Mazda MX-5 Miata on Tuesday, May 19

Do you love chilidogs, French fries, meeting new friends, and the world's most popular convertible? Do you live in Southeast Michigan? Do you like lists of questions? If you answered "yes" to any but the last of those, we'd like to invite you to a little get-together we're hosting next week. Driving impressions are still under embargo for the US-spec 2016 Mazda MX-5 Miata, but somehow we've conned convinced company PR reps to show the car to you, Joe Public Autoblog Reader. We're enthused about telling you more about the ND Miata, but before we do we'd love to share a Coke and talk about cars. Here's the skinny. A group of Autobloggers will be hanging out at the Athens Coney Island, in Royal Oak, MI, next Tuesday, May 19. We'll have the car on display from 5:00 PM to 8:00 PM, and we'd love to see you. If you're a Miata owner, we'd also love to for you to bring your car along for the party. The more convertibles the better (just be prepared to have your picture taken). Go ahead and set your navi for Athens – 32657 Woodward Ave., Royal Oak, MI 48073 ­– and we'll look forward to seeing you Tuesday. Mazda Geeks unite. Related Video: