Thursday May 24, 2012

JAPAN NEWS AND DISCUSSION

Bridgestone's profit plunges 92%

Business Feb. 20, 2009 - 05:11AM JST ( 2 )

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some14someFeb. 20, 2009 - 07:11AM JST

This ultra-thin profit may be from Bicycle Business.
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poshdrivelFeb. 20, 2009 - 04:13PM JST

So... which is it ?

A) "The main cause for the poor results was sliding demand for tires caused by stagnating auto markets around the world crippled by the U.S. financial crisis and its fallout."

B) "The strong yen, which erodes Japanese exporters’ earnings, also hurt, erasing 45 billion yen from its operating profits, according to Bridgestone. Rising material costs and surging oil prices had subsided recently but continued to be high, it said."

OR

C)"Consumer spending has weakened in Japan, export growth has slowed, demand for tires has also fallen in the U.S. and Europe, while growth is also slowing in China and other parts of Asia, it said."

Seems to me blaming the US financial crisis is nothing more than childish fingerpointing.