Bridgestone has said it has revised downward its group net earnings projection for fiscal 2009 ending next month to a loss of 10 billion yen from an earlier forecast profit of 6 billion yen.
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The tyre maker made the large revision because it will book an extraordinary loss of 13 billion yen from the closure of a plant in Australia.
Bridgestone revised down its group operating profit estimate to 60 billion yen from 61 billion yen and the sales projection to 2.59 trillion yen from 2.61 trillion yen, due to exchange losses stemming from falls in the value of the currencies of Brazil and other Latin American countries versus the dollar.
In January-September, the company logged a net loss of 27,461 million yen, against the year-before profit of 49,465 million yen. Operating profit fell 89.9% to 12,089 million yen, and sales were down 25% to 1,873,960 million yen.
