Bridgestone Corporation reported consolidated earnings results for third quarter and nine months ended September 30, 2016. For the quarter, the company's net income grew 18.4% year on year to ¥59.7 billion. The company, however, recorded a 20.0% y/y decline in operating income during the period to ¥111.1 billion and a 17.0% y/y drop in net sales to ¥798.2 billion.

For the nine months, the company's net sales were ¥2,444,802 million against ¥2,817,330 million a year ago. Operating income was ¥329,425 million against ¥378,646 million a year ago. Ordinary income was ¥320,384 million against ¥365,689 million a year ago. Profit attributable to owners of parent was ¥183,057 million against ¥195,120 million a year ago. Diluted net income per share was ¥233.36 against ¥248.81 a year ago.

For the fiscal year 2016, the company expects year end dividend of ¥70.00 per share.

For the fiscal year ending December 31, 2016, the company expects net sales of ¥3,340,000 million, operating income of ¥453,000 million, ordinary income of ¥434,000 million and profit attributable to owners of parent of ¥257,000 million or ¥328.13 per share.

The company appointed Nobuyuki Tamura, Masato Banno, and Keita Ide as vice-presidents and officers. The company has also named Thomas Higgins as vice-president and officer of Bridgestone Corporation and president of the US & Canada Consumer Tire Sales Division of Bridgestone Americas Inc. Additionally, Narumi Zaitsu has resigned from the post of executive vice-president and officer. Takashi Tomomoto has been appointed as senior vice-president and executive officer. He will also continue his role as global chief marketing officer, responsible for group global marketing solutions, and concurrently responsible for global business solution strategy. All of these changes are effective from 1 January 2017.