Financial Results for 1st Half of Fiscal 2024 Bridgestone Corporation Global CFO and Executive Director, G Finance Bridgestone Corporation Naoki Hishinuma August 9, 2024 1. Business and Financial Performance for 1st Half of Fiscal 2024 ･･･ 3 2. Fiscal 2024 Guidance ･･･ 14 2/19 1. Business and Financial Performance for 1st Half of Fiscal 2024 3/19 （Yen in billions） | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------|-------------------|---------|-------------|---------|------------ ...

NASHVILLE, Tenn., May 23, 2024 /PRNewswire/ -- Bridgestone Corporation (Bridgestone) was recognized by General Motors (GM) as one of its top global suppliers of 2023. The company was awarded this distinction during the GM 32nd Annual Supplier of the Year event. Performance, innovation, cultural alignment with GM's values, and having a commitment to achieving GM's ambitious goals are what earned Bridgestone this honor. Bridgestone was one of 86 companies out of GM's network of more than 20,000 suppliers to a ...

Financial Data and Key Metrics Changes - Revenue for Q1 2024 was JPY 1,064.1 billion, an increase from the previous year, while adjusted operating profit was JPY 120.2 billion, also up from the previous year [83] - Profit attributable to owners of the parent decreased slightly to JPY 86.6 billion due to one-time significant gains from the previous year [3] - Adjusted operating profit margin improved by 0.1 percentage points to 11.3% [3] Business Line Data and Key Metrics Changes - In the passenger car and light truck tire segment, despite a decline in sales volume, sales and profit increased year-on-year due to expanded sales of high rim diameter (HRD) tires, with profit margin improving by 0.8 percentage points [6] - Sales of ultra-large mining tires remained flat year-on-year, while sales of tires for construction vehicles declined significantly due to lower demand in Europe [5] - The truck and bus tire business saw a decline in sales and profit due to lower demand in North America and Europe, with profit margin decreasing by 3.8% [57] Market Data and Key Metrics Changes - Demand in Japan was significantly lower than the previous year due to delays in summer tire demand, while demand for HRD tires above 18 inches continued to grow steadily [4] - In North America, sales of HRD tires were strong, but overall sales volume was approximately 90% of the previous year's level [41] - In Europe, demand was on par with the previous year, but market share declined due to a weak channel base [37] Company Strategy and Development Direction - The company aims to return to a strong position capable of adapting to change, focusing on premium products and improving business quality [35] - A medium to long-term action plan for 2025 and beyond includes considering business rebuilding in Latin America [1] - The company is promoting global procurement activities and logistics transformation to improve efficiency [47] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the risk of further deterioration in the Latin American business, particularly in Argentina, and emphasized the need for emergency measures [1][80] - The company expects to see an increase in profit due to a weaker yen, despite the challenges in Latin America [8] - Management highlighted the importance of balancing the risks associated with currency depreciation and the deteriorating business environment in Latin America [18] Other Important Information - Total assets increased by JPY 163.6 billion to JPY 5,591.4 billion, primarily due to foreign exchange impacts from a weaker yen [7] - Free cash flow was maintained at JPY 30.9 billion, with total capital investment amounting to JPY 62.9 billion [58] Q&A Session Summary Question: How does the company assess the first quarter results compared to expectations? - Management indicated that the results were within the scope of expectations, with some upside due to foreign exchange movements, but acknowledged that the Argentina business was slightly more severe than anticipated [90] Question: What is the outlook for the North American truck and bus tire business? - Management noted that if tariffs are raised, the situation may normalize, but they are closely monitoring the developments [92] Question: What are the risks associated with inventory reductions? - Management expressed concerns about prolonged inventory reductions and emphasized the need for careful management of production and inventory levels [96][125]

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Bridgestone Corporation (BRDCY) is a rubber products company. The Zacks Consensus Estimate for its current year earnings has been revised 11.6% downward over the last 60 days.Capital Product Partners L.P. (CPLP) is a shipping company. The Zacks Consensus Estimate for its current year earnings has been revised 9.5% downward over the last 60 days.CEMEX (CX) is a construction company. The Zacks Consensus Estimate for its current year ear ...

Bridgestone Corporation (OTCPK:BRDCY) Q4 2023 Earnings Conference Call February 16, 2024 1:00 AM ET Company Participants Shu Ishibashi - Global CEO, Representative Executive Officer Masahiro Higashi - Global COO Shida Yoshikazu - Global CCO Naoki Hishinuma - Global CFO and Executive Director, Global Finance Conference Call Participants Shinji Kakiuchi - Morgan Stanley Securities Tairiku Sakaguchi - Mizuho Securities Kazunori Maki - SMBC Nikko Arifumi Yoshida - Citi Shiro Sakamaki - Daiwa Securities Unidenti ...

Financial Data and Key Metrics Changes - Revenue for the third quarter of fiscal 2023 increased by 41% year-on-year, reaching JPY 266.7 billion, partly due to favorable foreign exchange rates [15] - Adjusted operating profit also saw a year-on-year increase, although profit margins fell short of the previous year's levels due to rising raw material prices and inflationary pressures [11][21] Business Line Data and Key Metrics Changes - Passenger car tire demand in North America is recovering and expected to match the previous year's levels, while European demand remains weak, with expectations of approximately 90% of last year's levels [6][7] - Truck and bus tire sales in North America are recovering but remain below previous levels, with European sales experiencing a significant decline, dropping to about 80% of last year's levels [8][9] - Specialty tires, particularly mining tires, are performing well, with ultra-large and large tire sales increasing by 103% and 106% respectively [20] Market Data and Key Metrics Changes - The business environment in North America and Europe has deteriorated, impacting demand for truck and bus tires, while high rim diameter tires are showing resilience in North America [6][7] - The economic slowdown in Europe has led to a significant drop in sales, particularly for truck and bus tires, which are facing severe challenges [8][9] Company Strategy and Development Direction - The company is focusing on premium products and restructuring its manufacturing footprint to adapt to changing market conditions [4][5] - The 2024 midterm business plan will prioritize reinforcing business quality and addressing weaknesses in the European market [36][37] - Strategic investments will be limited in 2024, focusing on selected initiatives to ensure a solid foundation for future growth [37][75] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenging business environment, particularly in Europe, and emphasizes the need for a focused approach to improve profitability [68][70] - The company remains optimistic about growth in high rim diameter tires and premium products, despite the difficulties faced in the truck and bus tire segments [71][72] Other Important Information - The company plans to continue its strategic resource investments while ensuring efficient use of resources in light of the challenging environment [75] - The fiscal 2023 guidance remains unchanged, with expectations for continued demand recovery, albeit at a slower pace than previously anticipated [27][29] Q&A Session Summary Question: Can you provide insights on the current year's results and expectations for next year? - Management noted that while there are headwinds, particularly in the truck and bus tire segments, passenger tire demand is improving in North America, but Europe remains challenging [68][70] Question: What is the focus of the reorganization in Europe? - The focus is on restructuring the retail network and improving the sales and retread operations, with a solid restructuring plan in place [78] Question: How is the company addressing the challenges in Europe? - Management acknowledged the weaker business foundation in Europe compared to other regions and emphasized the need for a stronger operational foundation moving forward [81][82]

Bridgestone Corporation (OTCPK:BRDCY) Q2 2023 Results Conference Call August 9, 2023 2:00 AM ET Company Participants Shuichi Ishibashi - CEO Naoki Hishinuma - CFO Conference Call Participants Kazunori Maki - SMBC Nikko Securities Shinji Kakiuchi - Morgan Stanley Shiro Sakamaki - Daiwa Securities Tairiku Sakaguchi - Mizuho Securities Shuichi Ishibashi Hello, everyone. I am Shu Ishibashi, Global CEO. I will explain the Financial Results for the First Half as well as the Fiscal 2023 Guidance. First, regarding ...

Bridgestone Corporation (OTCPK:BRDCY) Q1 2023 Earnings Conference Call May 15, 2023 3:00 AM ET Company Participants Shuichi Ishibashi - Global CEO Naoki Hishinuma - CFO Conference Call Participants Mr. Sakaguchi - Mizuho Securities Kazunori Maki - SMBC Nikko Securities Shiro Sakamaki - Daiwa Securities Shinji Kakiuchi - Morgan Stanley Securities Shuichi Ishibashi Hello, everyone. I am Shuichi Ishibashi, Global CEO. First, I will explain the Summary of Financial Results for the First Quarter. To start with t ...

Bridgestone Corporation (OTCPK:BRDCY) Full Year 2022 Earnings Conference Call February 16, 2023 1:00 AM ET Company Participants Shuichi Ishibashi – Global Chief Executive Officer Naoki Hishinuma – Chief Financial Officer Conference Call Participants Shinji Kakiuchi – Morgan Stanley Securities Tairiku Sakaguchi – Mizuho Securities Kazunori Maki – SMBC Nikko Securities Shiro Sakamaki – Daiwa Securities Shuichi Ishibashi Hello, everyone. I am Shuichi Ishibashi, Global CEO of Bridgestone Corporation. The Bridge ...

Bridgestone Corporation (OTCPK:BRDCY) Q3 2022 Earnings Conference Call November 10, 2022 1:00 AM ET Company Participants Shuichi Ishibashi - Global CEO Masuo Yoshimatsu - Global CFO Conference Call Participants Shiro Sakamaki - Daiwa Securities Shuichi Ishibashi Shuichi Ishibashi, Global CEO. I would like to give you a summary of the financial results for the Third Quarter and Fiscal 2022 Guidance as well as a progress update on our midterm business plan. First, the results for the third quarter; regarding ...