ERJ staff report (LMH)
Tokyo – Bridgestone Corp. saw sales rise 9.4% in the first quarter of 2013, totalling yen 795 billion, compared with the same period in 2012. Net income for the period was in 43 billion, up 2.2% year-on-year.
In the tires segment, sales grew by 12% year-on-year in Q1, totalling yen 675 billion. Operating income was yen 68 billion, up 19% from 2012. In the diversified products segment, sales fell by 4% totalling yen 122 billion, while operating income in Q1 was yen 6.4 billion, up 7%.
Bridgestone said that in Japan unit sales of tires for passenger cars and light trucks decreased compared to the first quarter of 2012, due to a decline in the sales of original equipment tires.
In North America, unit sales of tires for passenger cars, light trucks, trucks and buses increased steadily. The company also saw an increase in China for all types of tires, though it noted that there was a slowdown in the Asian economy, particularly in China and India
In Europe sales of tires for passenger cars and light trucks decreased due to a decline in sales of original equipment tires. By contrast, unit sales of tires for trucks and buses increased strongly due to an increase in replacement tires. Bridgestone noted that the European economy remained stagnant and “continuous financial instability discouraged actual business activities”.
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News release from Bridgestone