Bridgestone noted that its sales benefited from "firm" demand for replacement market tires driven in part by shortages of new vehicles and "brisk" demand for pre-owned vehicles.
The operating profit improvement was helped by increased volumes, cost conversion, pricing and mix as well as foreign-currency gains, Bridgestone said.
These factors more than offset negative impacts of $72 million for freight costs and $92 million in higher raw-materials costs.
Bridgestone is forecasting 8 percent earnings growth for fiscal 2022 on 12 percent higher revenue.
As part of the mid-term plan, Bridgestone decided to divest its anti-vibration rubber business and chemical products solution business, helping its diversified products division return to profit.
By business unit, Bridgestone said sales of passenger and light vehicle tires and related businesses rose 19.3 percent to $15.8 billion, while operating profit more than doubled to $2.25 billion.
The truck and bus tire business unit reported a 54.4 percent growth in operating profit to $801.5 million, on 23.2 percent higher sales of $7.41 billion.
The specialties unit, comprising two-wheeler, construction, farm and aircraft tires, reported a 90-percent increase in operating profit to $707.7 million, as sales grew 26.4 percent to $3.58 billion.
Diversified products returned to profit at $92.8 million, on sales of $2.2 billion, excluding the results if the now discontinued U.S. building materials business, anti-vibration rubber business and chemical products solutions units.
In terms of regions, Bridgestone said it registered growth in all markets, led by 26 percent growth in the Europe, Russia, Middle East, India and Africa region to $6.32 billion and 25 percent growth in the Americas to $13.2 billion.
In North America, Bridgestone noted that "pressure on tire supply accompanying a marketwide labor shortage against robust demand for replacement tires laid bare issues about supply measures."
