Bridgestone Corporation, a Japanese tire manufacturer, said that the company raised its profit forecast for 2011 due to rising sales of its tires in overseas markets. Bridgestone expects the company's net profit will be 35 billion yen (about 435 million U.S. dollars) for the six-month period ending in June 2011, an increase of 50% from its original expected result.
Bridgestone said that, for the whole year of 2011, although the earthquake and tsunami disasters in Japan seriously affected its supply and production activities, the company estimated that its net profit would increase from the previously expected 82 billion yen to 94 billion yen. yuan. As for the first three months of 2011, Bridgestone’s net profit for the first quarter of this year was 31.33 billion yen (approximately 388 million US dollars), a 77.6% increase year-on-year.
It is reported that in the first quarter of this year, the company’s operating income was 704.33 billion yen; in the quarter, the company’s operating profit rose by 55.2% to 55.87 billion yen.
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