Bridgestone earns nearly $1.4 billion in first half
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.