Strong yen brings down Bridgestone 2016 results

Tokyo – Bridgestone Corp. has posted a sharp drop in earnings and revenue for 2016, as the Japanese yen gained strength and the cost of raw materials grew.

In its full-year financial statement on 17 Feb, the tire maker said its sales dropped 12% year-on-year to Yen3.3 trillion (€27.5 billion), with sales of tires showing a 13% decline to Yen2.7 trillion.

Bridgestone also registered an 8% decline in sales of diversified products to Yen585 billion.

Operating income fell 13% to Yen450 billion, with the tire division’s income showing…

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