Bridgestone Corporation on Wednesday cut its group net profit forecast for the year to December to 40 billion yen ($US321.8 million) from 70 billion yen, Reuters reported.

According to Reuters, Bridgestone also said it would provide 400 million euros ($US399 million) for its European unit to strengthen operations, which would include boosting capacity at its Polish factory to 23,000 tyres by the end of 2006 from 10,000 now.

Bridgestone relies on its European operations for around 10% of its total annual sales, Reuters said.