Bridgestone releases first half financial results

qiangzi

Wednesday, August 8, 2012
* [$ n! n1 j* Q3 ]+ @6 D: }
5 B/ w/ \( `% G/ C. y% j/ VTokyo, Japan - Bridgestone Corporation has released consolidated financial statements for the first half of the fiscal year ending December 31, 2012. In the first half of fiscal 2012 (ended June 30, 2012), the company's operating environment was plagued by raw material prices remaining at high levels during the period and the continuing strength of the Japanese yen. Despite these challenges, the domestic economy showed signs of recovery, including increased demand brought on by rebuilding and rebounding sales of new vehicles following recovery from the Great East Japan Earthquake. As a result, net sales for the first half of fiscal 2012 were 1,488.9 billion yen, an increase of 2 percent over the first half of fiscal 2011; operating income was 133.7 billion yen, an increase of 43 percent; ordinary income was 128.9 billion yen, an increase of 40 percent; and net income was 75.2 billion yen, an increase of 39 percent. In the tire segment, the company 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. In Japan, unit sales of replacement tires for passenger cars and light trucks decreased from the first half of fiscal 2011. However, due to large recovery in vehicle production volume, unit sales of tires for new vehicles strongly increased. While unit sales of replacement tires for truck and buses decreased, total unit sales of tires for trucks and buses remain unchanged due to the recovery of original equipment tire sales. As a result, net sales and operating income in the tire segment in the first half of fiscal 2012 totaled 1,237.5 billion yen and 119.6 billion yen, an increase of 1 percent and 33 percent from the first half of fiscal 2011, respectively. -