The Bridgestone Corporation made ¥3,525.6 billion (approx. $32.08 billion) in net sales in 2019, a 3% decrease over 2018’s net sales of ¥3,650.1 billion (approx. $33.21 billion), according to the company’s end-of-year financial results for the year.
In addition, the report shows Bridgestone’s operating profit fell to ¥326 billion (approx. $2.97 billion) in 2019 from 2018’s ¥402.7 billion (approx. $3.66 billion), a decrease of 19%.
Net tire sales also saw a net decrease of 3% for Bridgestone, totaling ¥2953.1 billion (approx. $26.87 billion) in 2019 from ¥3051.4 billion (approx. $27.76 billion) in 2018.
The report says that during the 2019 fiscal year, the company’s operating environment in Japan was “Clouded by the uncertainty of the global economy and other matters, despite the domestic economic conditions maintaining a course of gradual recovery.”
“For our overseas operations, while instability persists in both the political and economic fronts, economic conditions continue to recover gradually overall,” the report continues. “The U.S. economy continued on a recovery path, and the European economy showed signs of weak recovery. In Asia, the Chinese economy has continued to slow gradually.”
Bridgestone projects 2020 revenue will hit ¥3,550 billion (approx. $32.30 billion).
To view the full 2019 fiscal report, click here.