The redesigned MX-5 premiered at the Tokyo Motor Show in October 1997. Mazda released the second-generation MX-5, known as the NB, for the 1999 model year in February 1998. It featured a more powerful engine and design elements inspired by the third-generation Mazda RX-7, designed by Tom Matano in 1995.
The second-gen MX-5 had fixed headlights due to safety standards, slight width growth, and improved aerodynamics with a drag coefficient of Cd=0.36. Notable upgrades included a glass rear window with a defogger for the convertible top and an optional wind deflector behind the seats.
The NB kept its four-wheel independent suspension but received wheel, tire, and brake enhancements. Optional anti-lock brakes were introduced, and alloy wheels came in 14" or 15" sizes, depending on the trim. The engine remained a 1.8 L with various improvements, producing 104.4 kW (140.0 bhp) with 157 N⋅m (116 lbf⋅ft) of torque.
In Europe and Japan, the 1.6 L engine remained available. The base 1.8 L NB could go from 0 to 100 km/h (0 to 62 mph) in 7.8 seconds and reach a top speed of 210 km/h (130 mph).
3 years after the NB's first release it was given a facelift from 2000 onwards, and is commonly know as the NBFL (FaceLift), NB2 or the Mk2.5. In 2001, the second-gen MX-5 received a facelift with minor exterior tweaks for a sportier look. Fog lamps became standard, and the headlights got a projector-style low beam. Inside, the center console was redesigned, and white-faced, red-backlit gauges from the 2000 Special Edition became standard. Top models added 16-inch wheels, larger brakes, more chassis stiffening, a limited-slip differential, a 6-speed manual, Bilstein suspension, and leather seats. These upgrades boosted lateral grip to 0.91 g, and the body gained 16% bending rigidity and 22% torsional rigidity, with a base weight of 1,065 kg (2,348 lb).