The news sent Bridgestone’s shares surging upwards by as much as nine percent to 2.791 yen on the Tokyo Stock Exchange.
The company’s profits have been helped in part by the production boost at Japan's leading carmakers as they continue to recover from the 2011 natural disasters, while at the same time a recovery in demand from the US car market has also helped boost sales of Japanese carmakers, driving up demand for car parts.
Bridgestone said its profits were also lifted by "improving manufacturing productivity, enhancing technology and effectively utilising our management resources". The firm went on to reveal that it now forecasts a 37% jump in net profit for the current year, further boosting investor morale.
