Which company owns Mazda?
Mazda Motor Corporation, the Japanese automaker known for its iconic Miata sports car and innovative Skyactiv engine technology, is owned by the Sumitomo Group, a large Japanese conglomerate. Sumitomo has held a controlling stake in Mazda since the 1970s, making it the parent company of the popular car brand.
Sumitomo Group's Ownership of Mazda
Mazda has been part of the Sumitomo Group, one of Japan's largest keiretsu (business conglomerates), since the 1970s. Sumitomo initially acquired a 25% stake in Mazda in 1969 and has gradually increased its ownership over the decades. As of 2023, Sumitomo holds a 34% controlling stake in Mazda, making it the majority shareholder.
The Sumitomo Group is a diverse conglomerate with interests in various industries, including metals, mining, chemicals, and real estate. Mazda is one of the group's key subsidiaries, providing a significant portion of the group's automotive business.
Mazda's History and Relationship with Sumitomo
Mazda was founded in 1920 as the Toyo Cork Kogyo Company, a manufacturer of cork products. The company later diversified into machinery and eventually began producing automobiles in the 1930s. In 1969, Sumitomo acquired a 25% stake in Mazda, marking the beginning of their long-standing partnership.
Over the years, Sumitomo has provided financial and strategic support to Mazda, helping the automaker weather economic downturns and invest in new technologies. Mazda, in turn, has contributed to Sumitomo's automotive business, providing a reliable source of revenue and growth.
Mazda's Global Presence and Future Outlook
Today, Mazda is a global automaker, selling its vehicles in over 130 countries around the world. The company is known for its focus on driving dynamics, fuel-efficient engines, and innovative design. Mazda's partnership with Sumitomo has allowed it to expand its global reach and invest in new technologies, such as its Skyactiv engine and electrification efforts.
As the automotive industry continues to evolve, Mazda's relationship with Sumitomo is expected to remain strong, providing the resources and support necessary for the automaker to adapt to changing market conditions and consumer preferences.
