JAPAN AUTOMAKERS HURT BY YEN'S SURGE.(BUSINESS)

Byline: ALAN ADLER Knight-Ridder

The surging value of the Japanese yen brought a wave of red ink to Japanese automakers Mazda Motor Corp. and Nissan Motor Co.

Mazda, which is 25 percent owned by Ford Motor Co., lost just over $400 million in its 1995 fiscal year ended March 31, slightly less than the $428 million loss recorded for fiscal 1994.

Nissan's loss nearly doubled to $1.98 billion from $1.03 billion in fiscal 1994. The yen's rise against the dollar battered exports, and the devaluation of the Mexican peso cost Nissan $595 million. Nissan is the only Japanese automaker with significant manufacturing in Mexico.

The 25 percent …