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Bridgestone Q2 profit climbs 10.2% YOY

Bridgestone Corp. said its normalized net income for the second quarter was ¥90.36 per share, a gain of 10.2% from ¥81.98 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥70.77 billion, an increase of 10.2% from ¥64.24 billion in the prior-year period.

The normalized profit margin rose to 7.4% from 7.2% in the year-earlier period.

Total revenue grew 8.5% on an annual basis to ¥961.84 billion from ¥886.63 billion, and total operating expenses grew 7.8% year over year to ¥840.30 billion from ¥779.85 billion.

Reported net income grew on an annual basis to ¥72.89 billion, or ¥93.07 per share, from ¥70.22 billion, or ¥89.62 per share.

As of Aug. 7, US$1 was equivalent to ¥124.28.