Bridgestone Net Profit of 66.8 billion yen from January to September

Integrated media reported on November 5, 2010 that Bridgestone Corp. announced on November 5, 2010 that its earnings continued to improve due to the recovery in tire demand, especially in Japan.

The Japanese tire manufacturer announced 2010 first nine months net profit of 66.8 billion yen (US $ 826.7 million) over the same period revenues of 2.09 trillion yen (US $ 25.9 billion). In the same period of 2009, the company’s net loss was 27.5 billion yen ($340.3 million), and sales decreased by 12%.

Bridgestone said that there are signs that the economy is recovering moderately in most regions, but high raw material costs and a strong yen continue to weigh on corporate profits . The company said that domestic sales took out of the deficit and revenue rose by 18% year-on-year.

Bridgestone announced quarterly earnings reports, but the company announced in August that net profit for the first six months of 2010 was 44.5 billion yen ($550.7 million).

In addition, the company maintains its goal of maintaining 91 billion yen ($1.1 billion) in earnings in 2010.

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