Bridgestone reports modest growth in first half

Bridgestone reports modest growth in first half

Bridgestone Corp.’s operating income for the first six months of fiscal 2015 increased 6.5 percent to $1.98 billion, driven by the appreciation of the U.S. dollar vs. the yen, lower crude oil prices and the slowly recovering Japanese domestic economy.

 

Revenue rose 6 percent to $15.4 billion on the strength of the firm’s business in the Americas, where revenue jumped 14.9 percent to $7.97 billion. By contrast, sales fell 4 percent in Japan and 5 percent in Europe, Bridgestone reported.

Net income was up 1.7 percent to $1.2 billion. The operating ratio of 12.8 percent essentially was unchanged from 2014.

The tire segment results mirrored those of the company overall—operating income and sales up 7 and 6 percent, respectively, to $1.81 billion and $12.9 billion.

In the tire segment in Japan, passenger car and light truck tires dropped compared to 2014, mainly due to a last-minute demand associated with the consumption tax rate increase in the previous year.

In the Americas, Bridgestone reported unit sales of consumer tires increased “firmly” while unit sales of truck/bus tires rose “strongly” vs. the first half of 2014.

In Europe, unit sales increased “steadily” in both passenger/light truck and truck/bus tires. Consumer tire unit sales in China increased “substantially” while truck/bus tire sales fell by a similar measure.

Globally, unit sales of OTR tires were unchanged.

In the diversified products segment, net sales rose 8 percent due to the depreciation of the yen, the Tokyo-based tire maker said.

     

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