Mazda Looking To Sell Baseball Team, Other Assets As Finances Worsen

The scuttlebutt on Mazda is that Japan's favorite independent automaker is in the toilet, having to shed jobs in America and assets in Japan just to stay afloat. While Mazda may be strapped for cash, their less-than-liquid holdings, like a baseball team and $5 billion worth of land, don't look so bad. Mazda's holdings include a 34 percent stake in the Hiroshima Carp baseball team, a struggling but well-loved team, hospitals and other social facilities worth $253 million and various land holdings worth $5 billion. Mazda was in good financial shape before the financial crisis, but in recent years, the company has weathered the dissolution of its relationship with Ford, and a rising yen that has had devastating consequences for a company that produces most of its vehicles in Japan. While Mazda has announced plans to build a factory in Mexico and is well on its way with their SkyACTIV technology aimed at reducing fuel consumption, the company will have to enact some short term measures to help ease their financial burden – like selling a bunch of valuable assets that are held for no other reason than because of a tie with Mazda's hometown. from The Truth About Cars http://www.thetruthaboutcars.com

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