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Bridgestone cuts earnings forecast by 13% on Yen, lower sales

Tokyo – Bridgestone has downgraded its projections for its fiscal year to 31 Dec as a result of recent decline in trading conditions.

Net sales are now expected to reach Yen3,340 billion (€29.6 billion), around 11 percent lower than the group’s previous forecast of Yen3,750 billion.

Operating income for 2016 should now come in at Yen453 billion, 13 percent lower than the group’s previous projection.

The revision, said the tire maker, was to reflect “the appreciation of the Japanese yen and the decrease of unit-tire sales from the original plan.”

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