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Bridgestone profit holds relatively steady YOY in Q1

Bridgestone Corp. said its normalized net income for the first quarter came to ¥88.13 per share, compared with ¥87.75 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥69.10 billion, compared with ¥68.84 billion in the prior-year period.

The normalized profit margin fell to 7.7% from 8.0% in the year-earlier period.

Total revenue climbed year over year to ¥893.66 billion from ¥863.63 billion, and total operating expenses rose on an annual basis to ¥777.40 billion from ¥747.25 billion.

Reported net income came to ¥71.59 billion, or ¥91.31 per share, compared with ¥72.02 billion, or ¥91.81 per share, in the prior-year period.

As of May 13, US$1 was equivalent to ¥119.08.