Mazda stock dived nearly 7 percent Thursday after the struggling car maker said it will raise about $2 billion from selling new shares to invest in assembly plants and developing new vehicle technologies.
The Japanese company, which makes the Miata sports car, said in a statement it aims to have half of its vehicle production based overseas by early 2016 as part of plans to make its business more competitive.
Mazda's earnings have been hurt by the yen's sharp rise, the tsunami disaster last year in Japan, flooding in Thailand and the European debt crisis. Its shares closed down 6.8 percent at 37 yen in Tokyo. (AP)
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