Bridgestone revises fiscal year '08 projections

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Bridgestone Corp. has revised its financial projections for its fiscal year ended Dec. 31, 2008. Net sales projections total 3.25 trillion yen, while net income projections come to 7.5 billion yen.

Bridgestone also noted in a recent statement that "on Jan. 28, (it) received a notice of decision from the European Commission with respect to the alleged international cartel of marine hoses. The Commission imposed a total fine of 58.5 million euros (approximately 7.5 billion yen) on the Bridgestone Group companies.

"Management expects a decline in net volume from the projections announced on Dec. 22, 2008, because the company accrued the amount of the fine as an extraordinary loss during fiscal 2008."


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