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Bridgestone Q3 profit falls YOY

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Bridgestone Q3 profit falls YOY

Bridgestone Corp. said its normalized net income for the third quarter amounted to ¥72.52 per share, a decline of 10.2% from ¥80.76 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥55.36 billion, a decline of 12.6% from ¥63.35 billion in the prior-year period.

The normalized profit margin dropped to 6.0% from 7.9% in the year-earlier period.

Total revenue climbed 15.3% year over year to ¥920.23 billion from ¥798.24 billion, and total operating expenses rose 19.8% on an annual basis to ¥822.84 billion from ¥687.05 billion.

Reported net income grew 10.4% year over year to ¥65.93 billion, or ¥86.38 per share, from ¥59.70 billion, or ¥76.11 per share.

As of Nov. 10, US$1 was equivalent to ¥113.32.