Bridgestone Corp., the world’s biggest maker of tires, with operations in Akron, might cut prices on some products in the second half of this year, spurred by lower costs.
“We may adjust the price of some of our products to some extent,” Chief Financial Officer Akihiro Eto told reporters Thursday in Tokyo.
To remain competitive, the company could lower the price of products such as passenger car tires in the Americas and Europe, he said.
Bridgestone and French rival Michelin & Cie. reported higher profits in the first half as slower economic growth in China, the world’s second-largest economy, and the debt crisis in Europe led to lower prices of commodities such as rubber.
Rubber has plunged 39 percent in the past 12 months and reached the lowest since October 2009 as consumption fell in China, the top user, and Europe. Demand in China could drop 5 percent this year as slumping truck sales cut tire use, tire maker Hangzhou Zhongce Rubber Co. said last month.
Global natural rubber supply will exceed demand for a third straight year in 2013 and the price of the commodity used to make tires and gloves is set to extend declines, according to RCMA Commodities Asia Group.
The Japanese tire maker posted operating income for the quarter ended June 30 that beat analysts’ estimates and raised its full-year net income forecast 2.4 percent on Aug. 7.
Separately, demand for cars in Japan may drop “about 10 percent” in the second half, compared with the first six months of this year, after government incentives for purchases of fuel-efficient cars run out, Eto said.
Bridgestone shares have gained 8.3 percent this year compared with the 6.2 percent increase in the Japanese benchmark index.