[Hisakazu Imaki, President and CEO]

Good afternoon, ladies and gentlemen. Welcome to the Mazda stand. It is my pleasure to stand in front of you and present the healthiest Mazda ever, as well as some great new product.

Mazda is on track to exceed our initial mid-term business plan forecast, which are being achieved through our Mazda Momentum strategies. We expect to achieve Mazda's highest operating profit ever for the 2005 Fiscal Year. Thanks to the very positive acceptance of our new generation products such as Mazda3, Mazda5, Mazda6 and the new Mazda MX-5 all over the world, we are showing global growth and achieving financial strength and health. For example, the Mazda MX-5 has received the prestigious 2006 Car of the Year award in Japan and more recently was announced the 2006 New Zealand Car of the Year, and here in the U.S., MX-5 has been selected as one of Ten Best Cars - together with RX-8 - by Car and Driver magazine.

As I've mentioned before, the North American market is strategically very important for Mazda. For the Fiscal Year 2005, sales will exceed 348,000 units, 4% up when compared to the last Fiscal Year. As such, we are growing steadily. As one of our strategic challenges, the ratio of Mazda-exclusive dealers in the U.S. will increase to 50% by the end of FY2006, up from 33% at the end of FY2004. This will strengthen our distribution network in North America.

In addition, Mazda has also been able to capture younger customers in recent years. This is a very positive move in the U.S., and is essential to our future business sustainability.
Today, as the first vehicle based on our North American strategy focusing on the needs and wants of the North American customer, I'd like to reveal the new Mazda CX-7.

Two years ago, I promised Mr. O'sullivan that we would develop products focused on the North American market's needs. Last year, MX-Crossport debuted here at NAIAS and now, today, we can announce the Mazda CX-7.

Mazda CX-7 is a crossover SUV which is clearly different from traditional SUVs. Produced on entirely Mazda-derived platform architecture, Mazda CX-7 embodies an astute blend of sports car verve and SUV practicality, resulting in a fun to drive, Zoom-Zoom SUV that exhibits Mazda's trademark "Soul of a Sports car."

Mazda CX-7 will be launched within four months in North America and pricing begins at $23,750.

The other vehicle we will reveal here today is more of a dream.
About a year ago, I tasked Moray Callum, Mazda's chief designer, to challenge his design studios around the world to present their views of what Zoom-Zoom meant in Europe, Japan and the US.

Today, it is my pleasure to introduce you to Kabura - a car designed by our American design studio in Irvine, California led by Moray Callum and our US design-head Franz von Holzhauzen, who are now joining me on the stage.

Created with a young, American customer in mind, Kabura symbolizes Mazda's first arrow into battle, signaling to our competitors that the battle is on for young customers and for head-turning styling and innovative features.

Ladies and gentlemen, I give you... Kabura!

Kabura is intended for the young and young-at-heart to be able to transport friends and equipment wherever they go.
Stylish, insightful and spirited, this car is no mere flight of fantasy. While we are not moving toward producing Kabura, there are many features that may see their way into future production cars.

I now invite you to join CX-7 Program Manager Kawasaki-san and CX-7 Chief Designer Koizumi-san to discuss CX-7 more in detail, and to join US design-head Franz von Holzhausen and global-design head Moray Callum to discuss the Kabura.

Our whole team also will be on-site here at the Mazda stand for the next two days to answer your questions and introduce you to our exciting vehicles.

I thank you for your patience and wish each of you a good evening.