Bridgestone Corp. beat its own projections for 2014 as net income increased more than 48% to 300.5 billion yen on net sales of more than 3.6 trillion yen for fiscal year 2014. That compares to net income of 202 billion yen and net sales of more than 3.5 trillion yen in 2013.
Based on the exchange rate on Dec. 31, 2014, Bridgestone recorded net income of more than $2.5 billion on net sales of more than $30.7 trillion. Its income-to-sales ratio was 8.3%.
The company’s operating income rose 9.1%, from 438.1 billion yen in 2013 to 478.0 billion yen in 2014.
In the Americas, Bridgestone said passenger car and light truck tire sales “increased steadily,” while truck and bus tire sales “increased strongly” compared to 2013. Net sales in the Americas rose from more than 1.6 trillion yen to more than 1.7 trillion yen, an increase of a little more than 7%. It was the strongest sales growth of any of the regions Bridgestone reported for 2014.
In the tires segment, the company said it “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.”
Net tire sales increased 1.9% in 2014, to 3.09 trillion yen from 3.04 trillion yen, while operating income for the tires segment increased 9.1%, to 435.8 billion yen from 399.4 billion yen in the same period.
For 2015 Bridgestone is predicting net sales of more than $3.9 trillion yen, up 8.3%, along with a net income increase of more than 6.1%, to 319 billion yen. The company predicts operating income will climb more than 8.5% in 2015, to 519 billion yen.