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Bridgestone Q4 profit climbs 14.1% YOY

Bridgestone Corp. said its fourth-quarter normalized net income was ¥108.99 per share, an increase of 13.7% from ¥95.90 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥85.77 billion, a gain of 14.1% from ¥75.19 billion in the prior-year period.

The normalized profit margin increased to 8.8% from 7.5% in the year-earlier period.

Total revenue fell year over year to ¥972.92 billion from ¥1.009 trillion, and total operating expenses declined on an annual basis to ¥834.32 billion from ¥873.29 billion.

Reported net income rose 19.3% from the prior-year period to ¥89.40 billion, or ¥113.60 per share, from ¥74.92 billion, or ¥95.56 per share.

For the year, the company's normalized net income totaled ¥389.79 per share, compared to EPS of ¥357.19 in the prior year.

Normalized net income was ¥305.68 billion, a gain from ¥280.05 billion in the prior year.

Full-year total revenue grew on an annual basis to ¥3.790 trillion from ¥3.674 trillion, and total operating expenses increased on an annual basis to ¥3.273 trillion from ¥3.196 trillion.

The company said reported net income declined on an annual basis to ¥284.30 billion, or ¥362.52 per share, in the full year, from ¥300.59 billion, or ¥383.39 per share.

As of March 24, US$1 was equivalent to ¥112.66.