Tokyo – Bridgestone Corp.’s operating income fell 5% in the quarter ended 31 March, due in large part to rising raw materials costs, while sales increased 3.2%.
Operating income fell to $906.4 million (€835 million) on sales of $7.49 billion, Bridgestone said, yielding an operating ratio of 12.1%, down a point from the 2016 first quarter.
Net income was up 4.4% to $521 million. Increased raw materials costs had a negative effect of $167.5 million on earnings, the firm reported.
Bridgestone’s tire segment reported a 4.8% drop in…