From Tire Review
Bridgestone Corp. executives have aired a degree of caution relating to the tiremaker’s earnings outlook for this year.
According to various news sources, Bridgestone Corp.’s CFO suggested the impact of the euro-zone debt crisis is affecting demand, which, in turn, is weighing on its business.
While the company didn’t issue a definitive profit warning, CFO Akihiro Eto did tell reporters, "It looks better if we view our outlook more cautiously compared with our forecast given at the beginning of the year."
He also highlighted some degree of domino effect from the crisis in Europe on Bridgestone’s China sales, but not apparently on other markets in Asia.
Nevertheless, recent results show that Bridgestone’s profits have continued to rise this financial year. Eto told journalists the company will update its forecasts when it gets its first-half earnings in August. (Tyres & Accessories)
