TOKYO—Led by strong earnings and sales growth in the Americas, Bridgestone Corp. reported solid gains in revenue and operating income in fiscal 2015 over 2014.
Bridgestone Americas' operating income jumped 23.5 percent during the year to $1.84 billion on 9.8 percent higher sales of $16 billion, which helped offset sales declines in Bridgestone's other regions and an earnings drop in Japan.
Overall, Bridgestone reported 8.2 percent better operating income of $4.27 billion on 3.2 percent higher sales of $31.3 billion. Net income fell 5.4 percent to $2.35 billion. The operating ratio improved slightly to 13.6 percent.
The company is forecasting a slight gain in operating income for fiscal 2016 on 1.1 percent lower sales, based on fluctuating exchange rates and raw material prices and an unclear global economic situation and unstable international political conditions.
Regarding the Americas business unit, Bridgestone said unit sales of passenger and light truck tires in North America increased firmly, and the unit sales of tires for trucks and buses increased steadily over 2014.
This was in contrast to Japan, where lower winter tire demand dampened demand for passenger and light truck tires and unit sales of truck/bus tires remained unchanged thanks to higher OE sales.
In Europe and Asia/Pacific, unit sales of car, light and medium truck tires increased strongly. In the specialty tire business, sales of large and ultra-large off-the-road radial tires for construction and mining vehicles were down year due to a delayed recovery in demand stemming from tire inventory adjustments at mines In addition, Bridgestone recorded an extraordinary loss of $360 million related to the deconsolidation of Bridgestone Firestone Venezolana C.A.