Businessweek

Bridgestone Corp. has recently inaugurated an exclusive Select Store of Eswar Coastal Technolinks in Tadepalligudem, West Godavari district of Andhra Pradesh. With this, the tyre and rubber manufacturer has 295 Select shops in the country.

Bridgestone Corp. reported consolidated earnings results for the first quarter ended March 31, 2013. Net sales were ¥794,583 million against ¥726,245 million last year. Operating income was ¥74,451 million against ¥63,016 million last year. Ordinary income was ¥70,149 million against ¥61,739 million last year. Income before income taxes and minority interests was ¥70,149 million against ¥61,739 million last year. Net income was ¥43,111 million against ¥42,203 million last year. Diluted income per share was ¥55.03 against ¥53.90 last year. Income before minority interests was ¥46,779 million against ¥43,900 million last year. For the second quarter, the company expects dividend of ¥27.00 per share against ¥16.00 per share last year. For the year-end December 31, 2013, the company expects dividend of ¥27.00 per share against ¥16.00 per share last year. For the full year ending December 31, 2013, the company expects total dividend of ¥54.00 per share against ¥32.00 per share last year. The company reaffirmed consolidated earnings guidance for the first half and full year of fiscal 2013. For the first half, on consolidated basis, the company expects net sales of ¥1,690,000 million, operating income of ¥182,000 million, ordinary income of ¥170,000 million, net income of ¥105,000 million and diluted income per share of ¥134.13. For the year ending December 31, 2013, on consolidated basis, the company expects net sales of ¥3,550,000 million, operating income of ¥382,000 million, ordinary income of ¥365,000 million, net income of ¥235,000 million and diluted income per share of ¥300.19.

Bridgestone Corp. announced that it is planning to shrink its factory workforce in western Europe by around 30%, or 1,450. In addition to reducing a combined 500 jobs and freezing investment in Spain and France, Bridgestone also plans to close an Italian factory employing some 950.

Bridgestone Corp. announced it was closing a half-century old factory in southern Italy in 2014 due to slumping demand in Europe. The factory, which employs about 950 people, is one of eight Bridgestone plants in Europe including sites in Spain, France, Poland and Hungary.

Bridgestone Corp. has announced the appointment of Yutaka Yamaguchi as managing director of its Technical Centre Europe in succession to Franco Annunziato, Bridgestone Europe CEO and president.