TOKYO (June 27, 2003) — Bridgestone Corp. has raised its sales and earnings projections for fiscal 2003 based on stronger-than-expected sales growth in North America and Europe.
For the full year, net income should reach about $615 million, Bridgestone said, a 10-percent increase over earlier forecasts. Pre-tax earnings should climb about 12 percent over the earlier projection to more than $1.1 billion.
The gains are even more substantial in the first half, the company said, with both ordinary and net income expected to be nearly a third greater than projections made earlier this year.
Sales for the year are projected to be slightly higher at $18.2 billion.
Bridgestone said besides strong growth performances in Europe and North America its exports from Japan also were growing faster than forecast earlier.
Also affecting the projections is the strengthening of the euro vs. the Japanese yen, the company said.