INDEX / DIRECTORY / MAZDA / V-ECON

Mazda V-ECON

ECONOMIC AUDIT UPDATED 2026-05-19
V-ECON Score 1.24 /10 E Mazda — BDS-1000 126
V-ECON 1.24

Evidence-only forensic audit. Scoring happens downstream — see the main dossier for the composite assessment.

V-ECON Audit: Mazda Motor Corporation

Audit Phase: V-ECON Target: Mazda Motor Corporation (TSE: 7261) Audit Date: 2026-05-01 Jurisdiction of Incorporation: Japan Headquarters: Fuchu-cho, Aki-gun, Hiroshima Prefecture, Japan

Supply Chain & Sourcing Relationships

Direct Supplier Relationships

No public evidence identified of any commercial relationship between Mazda Motor Corporation and Israeli agricultural aggregators or exporters — including Mehadrin, Hadiklaim, Galilee Export, or Agrexco/Carmel successor entities. This finding is structurally grounded: Mazda is an automotive original equipment manufacturer (OEM) whose supply chain consists entirely of industrial inputs — steel, aluminium, electronic components, rubber, glass, and precision-engineered parts. Agricultural and fresh produce categories (Medjool dates, avocados, citrus, fresh herbs, potatoes) are wholly outside Mazda’s procurement universe.123

Mazda’s disclosed Tier-1 supplier base, as published in its supply chain sustainability disclosures, consists of Japanese, North American, European, and Southeast Asian industrial suppliers. No Israeli Tier-1 supplier appears in any available corporate disclosure.34

Importer of Record Structure

Mazda does not operate a wholly owned subsidiary or a dedicated import entity in Israel. The authorised importer of record for Mazda vehicles in Israel is Colmobil Ltd (trading as Colmobil Group), an independent Israeli company operating under a franchise/distribution agreement with Mazda Motor Corporation for the Israeli market.5 Colmobil is not a Mazda-owned or Mazda-controlled entity; it is an independent third-party distributor registered separately on Israeli commercial registries and also holds distribution franchises for other automotive brands.5 Mazda’s own global subsidiary and affiliates list does not include any Israeli-domiciled entity.6

Seasonal Sourcing Patterns

No public evidence identified. The category is structurally inapplicable to an automotive OEM.

Third-Party & Indirect Sourcing

No public evidence identified of Israeli-origin products — agricultural or otherwise — reaching Mazda’s operations via third-party distributors or white-label arrangements.12 Mazda’s procurement disclosures do not reference any Israeli sub-supplier at Tier-2 or Tier-3 levels, though comprehensive lower-tier supplier mapping is not publicly available.3 No NGO investigation reviewed identified Israeli-origin component sourcing in Mazda’s supply chain.

Product Origin, Labeling & Regulatory Compliance

Settlement-Origin Products

No public evidence identified. Mazda is an automotive manufacturer and does not procure, retail, or distribute agricultural products or foodstuffs of any provenance. No NGO investigation — including reviews of the Who Profits database, Corporate Occupation project records, and Agrexco/Carmel successor entity profiles — has connected Mazda to settlement-origin produce or labeling obligations of this type.1278

Country-of-Origin Labeling Compliance

No public evidence identified. Statutory country-of-origin labeling requirements for produce (such as those administered under DEFRA guidance in the United Kingdom) are not applicable to Mazda’s product categories, which are motor vehicles and automotive components.8 No regulatory body, customs authority, or government audit has cited Mazda in connection with produce labeling non-compliance.

Corporate Labeling and Sourcing Policy

Mazda’s published procurement and sustainability policies address supplier conduct codes, environmental standards, and conflict minerals (in the context of the Dodd-Frank Act and the OECD Due Diligence Guidance for Responsible Mineral Supply Chains) but contain no territory-specific sourcing policies regarding Israeli-occupied or contested territories.43 No public evidence identified of any Mazda corporate policy specifically addressing the sourcing or labeling of goods from such territories.

Investment, Capital & Financial Exposure

Foreign Direct Investment

No public evidence identified of any Mazda direct capital investment within Israel or the occupied territories in the form of acquisitions, greenfield factories, data centres, logistics hubs, or real estate holdings.910 Mazda’s disclosed global manufacturing footprint as of 2024 comprises plants in Japan (Hiroshima and Hofu), Mexico (Salamanca), Thailand, China (joint venture with Changan Automobile), and the United States (Mazda-Toyota Manufacturing USA — MTMUS — a joint venture with Toyota Motor Corporation in Huntsville, Alabama).911 No Israeli manufacturing, assembly, or logistics facility is listed in any corporate disclosure reviewed.610

R&D and Innovation Centres

No public evidence identified of any Mazda R&D facility, technology partnership, innovation lab, or accelerator programme operating within Israel.12 Mazda’s disclosed R&D network is concentrated in Japan — principally at Yokohama and Hiroshima technical centres — with collaborative ties to European and North American engineering partners. No Israeli technology partnership, startup engagement, or investment through a venture arm is disclosed in Mazda’s annual reports, sustainability reports, or technology communications through 2024.1249

Parent and Beneficial Ownership Flows

Mazda Motor Corporation is listed on the Tokyo Stock Exchange (TSE: 7261). As of fiscal year 2024, the principal external shareholder is Toyota Motor Corporation, which holds approximately 5.1% of Mazda’s issued shares as part of a cross-holding capital alliance formalised in 2017.1314 The remainder of the shareholder register consists of Japanese institutional investors and nominee custodian holders.1310 No Israeli state entity, Israeli sovereign wealth vehicle, or Israeli-domiciled beneficial owner appears in Mazda’s top-shareholder disclosures.13 Toyota Motor Corporation, as principal external shareholder, similarly shows no disclosed direct investment in Israel in its own consolidated filings as of 2023.14

Portfolio and Fund Exposure

No public evidence identified of Mazda or Toyota (as principal shareholder) holding disclosed positions in Israeli-domiciled companies, Israeli sovereign bonds, or Israel-focused investment funds.131410

Operational Presence & Market Activity

Physical Footprint

Mazda Motor Corporation operates no directly owned or wholly controlled offices, sales operations, support centres, warehouses, or retail locations within Israel or the occupied territories.65 All market operations in Israel are conducted through the independent franchised distributor Colmobil Ltd, which operates its own dealership network and after-sales service infrastructure entirely at arm’s length from Mazda’s corporate structure.5 Colmobil’s operations as described in publicly available records are located within Israel’s pre-1967 borders (the Green Line); no specific evidence of Colmobil dealership or service operations within Israeli settlements in the West Bank has been identified in public records, though this has not been independently confirmed or audited in available NGO databases as of the date of this audit.12

Employment and Tax Contribution

Mazda Motor Corporation employs no direct workforce in Israel.56 Any employment generated by Mazda vehicle distribution and servicing in Israel is attributable solely to Colmobil Ltd as the independent franchisee, which is an Israeli-registered company subject to Israeli employment law and tax jurisdiction. Colmobil’s direct Mazda-related headcount is not separately disclosed in publicly available records.5

Market Positioning and Revenue Segmentation

No public evidence identified of Mazda characterising Israel as a strategic growth market, regional hub, or independently significant export market in its annual reports, investor presentations, or press communications.96 Israel does not appear as a named market in Mazda’s geographic revenue segmentation disclosures, which employ broad regional categories: Japan, North America, Europe, China, and Other regions.9610 Israel is subsumed within the “Other” or “Middle East and Africa” regional aggregate, with no Israel-specific revenue figure disclosed.15

Colmobil’s aggregate revenues across all brands it distributes — and Mazda’s share therein — are not separately disclosed in granular form. Israeli automotive market data confirms that Mazda ranked among mid-tier brands in Israel’s passenger vehicle market in 2023, with Colmobil serving as sole importer.1617

Corporate Structure & Foundational Ties

Founding and Incorporation History

Mazda Motor Corporation was founded in Hiroshima, Japan in 1920 as Toyo Cork Kogyo Co., Ltd., subsequently renamed Toyo Kogyo Co., Ltd. in 1927, and renamed Mazda Motor Corporation in 1984.910 [pre-2020] The company has no Israeli founding history, no Israeli-origin brand heritage, and no predecessor entity incorporated in, or with founding ties to, Israel.10

Mazda Motor Corporation is legally domiciled and operationally headquartered in Fuchu-cho, Aki-gun, Hiroshima Prefecture, Japan.910 No dual headquarters, legacy headquarters, or registered branch address in Israel is identified in any corporate record reviewed.

State and Institutional Linkages

No current Israeli state ownership stake, Israeli government board appointee, Israeli government contract, or designation as Israeli critical national infrastructure is identified in any public record.101813 Mazda’s historically documented linkages to state involvement concern the Japanese government and Sumitomo Bank, which organised a financial rescue of Toyo Kogyo in the 1970s — a matter entirely unrelated to Israel.10 [pre-2020] No evidence of Israeli defence ministry contracts, Israeli public procurement relationships, or Israeli public-sector designations is present in any source reviewed.12

Structural Governance Features

No public evidence identified of governance mechanisms — golden shares, founder shares, charter restrictions, or equivalent instruments — that structurally tie Mazda’s operations or strategic mission to the Israeli state or its policy objectives.1810 Mazda’s governance structure is that of a standard Japanese publicly listed corporation, subject to the Companies Act of Japan and Tokyo Stock Exchange listing rules and oversight.18

Profit Repatriation & Economic Contribution

Revenue Attribution

No public evidence identified of Mazda disclosing Israel-specific revenue figures.96 Israel is not broken out as a named market in Mazda’s segmental reporting. Mazda’s consolidated financial statements employ five geographic segments — Japan, North America, Europe, China, and Other regions — with Israel included within the “Other” or “Middle East and Africa” aggregate.9610 Israeli automotive market data and Israeli business press reporting allow inference that Colmobil generated vehicle sales revenues attributable to Mazda in 2023, but Mazda-specific margin or unit revenue from Israel is not publicly disclosed.1617

Profit Flows

To the extent Mazda generates revenue from the Israeli market, the commercial flow is as follows: Colmobil Ltd (Israeli-domiciled independent franchisee) purchases vehicles at wholesale from Mazda Motor Corporation in Japan; wholesale revenue flows from Israel to Japan via vehicle purchase invoices and any associated franchise arrangements.5 No Israeli entity repatriates profits into Israel from Mazda’s global operations — the direction of value flow is outward from Israel to Japan.510 Mazda’s consolidated profits are retained within its Japanese corporate structure and distributed to shareholders who are predominantly Japanese institutional investors and Toyota Motor Corporation.1314

Economic Ecosystem Role

No public evidence identified of any Israeli government designation, industry body assessment, or independent economic report characterising Mazda as a significant employer, economic sector anchor, or infrastructure provider within the Israeli economy.1617 Mazda’s market presence in Israel is mediated entirely through the independent franchisee Colmobil and constitutes a standard arms-length import relationship with no structural economic embedding in the Israeli market.16

End Notes

Footnotes

  1. https://whoprofits.org/ ↩ ↩2 ↩3 ↩4 ↩5

  2. https://corporateoccupation.org/ ↩ ↩2 ↩3 ↩4 ↩5

  3. https://www.mazda.com/en/about/csr/procurement/ ↩ ↩2 ↩3 ↩4

  4. https://www.mazda.com/en/sustainability/report/ ↩ ↩2 ↩3

  5. https://www.colmobil.co.il/en/about/ ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8

  6. https://www.mazda.com/en/about/profile/subsidiaries/ ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8

  7. https://whoprofits.org/companies/company/3 ↩

  8. https://www.gov.uk/guidance/food-labelling-giving-food-information-to-consumers ↩ ↩2

  9. https://www.mazda.com/en/investors/library/annual/ ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9

  10. https://www.mazda.com/en/investors/library/securities/ ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11 ↩12 ↩13

  11. https://www.mazdatoyota.com/ ↩

  12. https://www.mazda.com/en/innovation/technology/rd/ ↩ ↩2

  13. https://www.mazda.com/en/investors/stock/ ↩ ↩2 ↩3 ↩4 ↩5 ↩6

  14. https://global.toyota/en/ir/annual-report/ ↩ ↩2 ↩3 ↩4

  15. https://www.mazda.com/en/news/ ↩

  16. https://en.globes.co.il/en/article-car-sales-2023-1001469000 ↩ ↩2 ↩3 ↩4

  17. https://www.iaia.org.il/ ↩ ↩2 ↩3

  18. https://www.mazda.com/en/investors/governance/ ↩ ↩2 ↩3