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Bridgestone Q1 profit falls YOY

Bridgestone Corp. said its first-quarter normalized net income was ¥74.52 per share, a decrease from ¥77.94 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥58.33 billion, a decrease from ¥61.12 billion in the year-earlier period.

The normalized profit margin dropped to 6.8% from 7.4% in the year-earlier period.

Total revenue grew year over year to ¥851.89 billion from ¥825.80 billion, and total operating expenses rose on an annual basis to ¥748.83 billion from ¥717.34 billion.

Reported net income grew on an annual basis to ¥59.24 billion, or ¥75.69 per share, from ¥56.74 billion, or ¥72.35 per share.

As of May 12, US$1 was equivalent to ¥113.22.