Japan's bubble era produced some of the most iconic cars out there. It was also a time when Japanese automakers set their ambitions high by rocking the Western establishment. Unfortunately, Japan's economy came crashing down in the early '90s and was made worse by the Asian Economic Crisis. It also forced Japanese automakers to tighten their belts and cancel plans. Mazda was among those affected.

Most people might know about Amati, Eunos or ɛ̃fini, Mazda's failed attempts at the luxury/performance car market in the 1990s. However, there is another division that Mazda had to kill off. As enthusiasts, many of us feel the urge to voice opinions about our favorite marques. “Honda should do this,” or “Toyota should build that.” If only the they would listen the (automotive) world would be a better place, no?

In fact, automakers do listen. Back in the glory days of the Bubble Economy, Mazda, in particular, even created a whole entity for this purpose. It acted as a personalised touchpoint for customers and potential customers to interact with the Mazda brand, taking their thoughts and feeding it back into the design team, but also creating a series of bespoke vehicles only available through this outlet. It was called M2 Incorporated, the brand's short-lived skunkworks company, a part of Mazda history that only a few outside Japan know about.

M2 Incorporated was established in 1991 and made either hotter versions of existing Mazda models or concepts for consideration. The last slice showcases the distinctive headquarters of M2, crafted by architect Kengo Kuma, which was home to a meeting room, exhibition space and sales corner. The building was promoted as a hub for fan-run Mazda clubs.

One of the first cars they made was based on the Miata. Dubbed the M2 1001, it was also known as the Cafe Racer. It was inspired by classic racing roadsters from the '60s, but the changes were beyond cosmetic for the Cafe Racer. This car also featured a lowered and stiffer suspension setting, and exhaust by HKS, a limited-slip differential, and a little more power under the hood. M2 Incorporated made 300 units of the Cafe Racer.

The next car was the M2 1002 or the Vintage. It was also based on the MX-5 but less aggressive-looking than the Cafe Racer. It focused more on luxury with leather and wood appointments inside. Then there was the M2 1005, a rally version of the 323 hatchback intended for Group A competition. In 1994, the M2-1028 Street Competition made its debut - a nimble, track-focused clubman racer built upon the NA8 Roadster. The M2 1028 weighed 50 kg less than a standard Eunos Roadster thanks to numerous modifications, including a lightweight trunk, removal of the soft top roof, FRP bucket seats and more.

One of the wildest concepts M2 Incorporated made was the M2 1006, also known as the Cobraster. Think of it as a beefed-up version of the standard Miata with the **929**’s 3.0L JE-ZE V6 (tuned to produce 220PS) under the hood. It rode on suspension components from the RX-7. That project was canceled due to the complexity and extensive modifications to make it work. Other canned products include a coupe version of the first-generation Miata and a four-door sports car.

M2 Incorporated also had fun with the quirky AZ-1 Kei-car. The company made an off-road-inspired concept of the mid-engined Kei-car, along with a rally car concept and one with a detachable roof. One eventually reached production and featured styling upgrades on the car.

As for the FD3S RX-7, M2 envisioned a turn-key track car. Sharing the 1001’s philosophy, the 1020 featured engine and exhaust upgrades, various aerodynamic parts, staggered tires on BBS wheels, racing bucket sets, and adjustable shocks. Unfortunately, the 1020 never made it to production (although Mazda Australia would eventually borrow the design for its RX-7 SP).

As mentioned earlier, tuned and specialty vehicles was just one side of what M2 was about. In exploring the product space and researching future directions for Mazda, M2 played around with creative variants based on several other Mazda models, including the subcompact Autozam Revue(M2-1004), Familia/323 (1005), Eunos Cosmo (1011), and Eunos Presso/MX-3 (1019). Some of its bolder ideas included a four-door four-seat sports car (1007), an “urban SUV” (1009), and a wheelchair-accessible Roadster (1031).

The company closed its doors in 1995 as part of Mazda's bid to cut its losses. After that, it closed down Eunos in 1996, ɛ̃fini in 1997, and Autozam in 1998. 

Bubble Era Excess: Meet M2 Incorporated, Mazda's Short-Lived Skunkworks Company. It acted as a personalised touchpoint for (potential) customers to interact with the Mazda brand, taking their thoughts and feeding it back into the design team, but also creating a series of bespoke vehicles.