Weak US market, Bridgestone rubber consumption may be lower than expected this year

According to reports, an analyst from Japan recently stated that due to the US market demand will be lower than previously expected levels, Bridgestone 's rubber consumption this year may be 2.6% lower than its expected level released in February.

Bridgestone once stated on February 18, 2013 that its global tire production business this year is expected to consume 1.93 million tons of rubber, a record high, and a 9.7% increase compared to 2012. Nomura Holdings analyst Hisahiro Yamaoka believes that Bridgestone’s natural and synthetic rubber consumption this year may be 50,000 tons lower than its expected level.

Hisahiro Yamaoka said in an interview recently that although demand in the US market will be weak, thanks to the reduction in raw material costs and the weakening of the yen, Bridgestone’s profit is expected to hit a new record this year, and the company’s spokesman Makoto Shiomi said that the company has not yet adjusted its business expectations.

In March of this year, the sales volume of light vehicles in the United States reached 1.45 million, an increase of 3.4% year-on-year, reaching the highest level of single-month sales since August 2007. Nonetheless, Hisahiro Yamaoka said that the strong delivery of the US auto market is still not enough to offset the weakness of the replacement tire market, which accounts for 70% of the entire tire market.

According to Bridgestone's full-year business forecast released in February, the company’s operating profit this year will reach 382 billion yen (about 3.94 billion U.S. dollars), an increase of 34% from 2012. MakotoShiomi said that Bridgestone has not yet adjusted this expectation and the company will announce its financial report for the first quarter of this year on May 8.

Hisahiro Yamaoka pointed out that thanks to the decline in the yen exchange rate, Japanese tire makers were able to boost sales by lowering their selling prices. Bridgestone is expected to receive an additional profit of 62 billion yen (about 640 million U.S. dollars) through the weakening of the yen this year, while the drop in rubber prices will also save 28 billion yen (about 290 million U.S. dollars) for it. cost.

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