Bridgestone profit falls 42% despite margin improvement

Bridgestone reported first-half revenue of 2,116.4bn yen, down 3% year-on-year, while adjusted operating profit rose 2% to 234.6bn yen with margins improving to 11.1%.

However, profit attributable to owners plummeted 42% to 115.5bn yen due to 70.2bn yen in adjustment items including significant rebuilding expenses.

The company continues its 300bn yen share buyback program, which was 36% complete by June, alongside 200bn yen in debt financing.