The accompanying consolidated financial statements of Mazda Motor Corporation (the
“Company”) and its consolidated subsidiaries (together, the “Group”) have been prepared
in accordance with the provisions set forth in the Financial Instruments and Exchange Law
of Japan and its related accounting regulations, and in conformity with accounting principles
generally accepted in Japan (“Japanese GAAP”), which are different in certain
respects as to application and disclosure requirements from International Financial
Reporting Standards (“IFRS”).