Bridgestone, the world's largest tire manufacturer, announced on the 22nd that due to the global economic slowdown and the sharp decline in auto sales, the company’s net profit is expected to be only 12 billion yen (1 US dollar is equivalent to 90 yen) this year, which is lower than last year. 91%.
Prior to this, Bridgestone once lowered its profit forecast. It is expected that the company's profit will drop by 50% to approximately 66 billion yen.
On the 22nd, Bridgestone said that the company’s sales this year may fall by 4% to 3.25 trillion yen, which is 170 billion yen less than previous forecasts; operating profit may drop by 53% to 1180 yen. 100 million yen, after the company’s expectation of operating profit was a drop of 38% to approximately 155 billion yen.
Bridgestone said that despite the increase in sales of super-large tires for high-profit mines, it cannot make up for the decline in sales of new cars and spare tires. Sales of tires in the North American and European markets were sluggish, operating losses in the US subsidiary’s 10 billion yen, and continued high consolidation of the yen’s exchange rate all affected the company’s overall performance.
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