According to foreign media reports, the tire manufacturer Bridgestone Company released its financial report on May 8th. The company reported a net loss of 34.88 billion yen (approximately 353 million U.S. dollars) in the first quarter, a net profit of 22.96 billion yen (approximately 232 million dollars) over the same period of last year. USD) dropped by 252%. The financial report shows that Bridgestone’s operating losses in the first quarter were as high as 12.35 billion yen, which was far below the operating income of 39.8 billion yen in the same period of last year; operating income decreased from 797.84 billion yen in the same period of last year to 567.67 billion yen, which is the same as the same period of last year. A decrease of 28.8%. In addition, Bridgestone also made an estimate of its first-half performance. Bridgestone expects its net loss in the first half of the year to increase to 62 billion yen, operating loss will increase to 40 billion yen, and revenue is expected to be 1.2 trillion yen. After the economic crisis broke out, Bridgestone was inevitably affected. In 2008, Bridgestone’s net profit fell by 92% to 10.041 billion yen, and overseas income also fell by about 75%. Due to the decline in profits, Bridgestone has taken a series of measures to cut production and wages to save expenses. In addition, Bridgestone also reduced its investment in plant construction in 2009 by 15% to 30%.
Bridgestone Group's net loss reached 34.88 billion yen in the first quarter