Retail

Bridgestone earns nearly $1.4 billion in first half

Posted on August 11, 2014

Bridgestone Corp. reported net income of 142 billion yen on net sales of 1.7 trillion yen for the first half ended June 30, 2014. That compares to income of 117 billion yen on sales of nearly 1.7 trillion yen for the same period last year.

Based on the exchange rate on June 30, 2014, Bridgestone recorded net income of nearly $1.4 billion on net sales of $17.2 billion for the first half. Its income-to-sales ratio was 8.3%.

Bridgestone’s operating income rose 17%, from 190.3 billion yen to 223.1 billion yen.

The company says the United States economy continues gradual recovery due to an increase in consumer spending, and the European economy has shown signs of recovery. Overall, recovery by many overseas economies remains weak, according to Bridgestone. The Japanese economy is showing signs of a gradual recovery due to economic and monetary polices.

In the tire segment, Bridgestone worked "to maximize sales momentum by introducing appealing new products globally, enhancing strategic products and reinforcing fundamental competencies such as specification optimization, and responding promptly to demand fluctuation in each region."

Tire income/sales in yen, 1H 2014

Year      Net sales      Operating income

2013     1.469 trillion   202.0 billion

2012     1.448 trillion   173.2 billion

Unit sales of passenger and light trucks in North America “increased steadily” compared to the first half of fiscal 2013. Unit sales of truck and bus tires “increased strongly” compared to the year-ago period, according to the company.

For fiscal 2014, Bridgestone projects net income of 293 billion yen on net sales of 3.6 trillion yen. Compared to 2013 fiscal results, the projections are up 45% and 2%, respectively. The company predicts operating income will be up 8% to 475 billion yen.

Related Topics: Bridgestone financials

Comments ( 0 )
More Stories
Three sizes have been added to the Duraturn Mozzo Touring tire line.
News 13 New Duraturn Tire Sizes Are Coming to North America

How many sizes are the marketers of the Duraturn consumer tire brand adding to their lineups? A baker's dozen.

News Cooper Reorganizes 'Certain Departments'

Cooper Tire & Rubber Co. went through a reorganization last week. Although the company would not comment on which departments were affected, it did share a few details with Modern Tire Dealer.

Mark Rhodes, left, and Scott Rhodes present Plaza Tire Service's donation to Jenny Pagel-Guile of St. Jude Children’s Research Hospital.
News Plaza Tire Service Raises Money for St. Jude Children's Hospital

For the fourth consecutive year, Plaza Tire Service Inc. customers and employees made donations to support St. Jude Children’s Research Hospital. The tire dealer raised $17,856.71 at its 62 stores and its corporate office.  

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!