TOKYO (AP) — Japanese tire maker Bridgestone Corp. will spend 250 billion yen (US$2.19 billion; €1.53 billion) annually over the next five years to boost tire production capacity, the company's midterm business plan showed Monday.
The Tokyo-based manufacturer also said it expects to invest about 32 billion yen (US$280 million; €195.97 million) in new and existing plants in Japan through 2012.
Bridgestone hopes to increase annual net sales to around 4 trillion yen (US$35 billion; €24.5 billion) in 2012, a nearly 20 percent rise from the amount forecast for 2007, the company said.
The company is the world's largest tire and rubber products maker by sales.
