News - 2022

Bridgestone Announces Expansion of Production Capacity for Premium Passenger Car Tires at Four Plants in Japan Progress of Premium Business Strategy Based on Mid Term Business Plan (2021-2023)

2022/02/03

Tokyo (February 3, 2022) ― Bridgestone Corporation (Bridgestone) announced today that it will expand the production capacity of premium tires for passenger car at its Tochigi, Hikone, Hofu, and Tosu plants. The expansion is an initiative to reinforce structure to produce premium products. Construction will start in the first quarter of 2022. Entailing a total investment of approximately 8.2 billion JPY, the production capacity expansions of premium passenger car tires are projected to result in an increase of approximately 6,200 tires per day (more than 10% of current capacity) within 2025. This production capacity expansions were decided based on the recognition that to reinforce structure to "produce" premium products of passenger car tires plants in Japan, which are the core to master manufacturing, is essential to such initiatives.

Bridgestone is moving forward with premium business strategy, which "produce and sell" high value-added "Dan-Totsu Products"^*1 in its core business as described in Mid Term Business Plan (2021-2023)^*2, which was announced on February 16, 2021. In our premium business strategy, we are reinforcing our "premium production" taking into account sustainability and the evolution of mobility.

The Bridgestone Group not only expands its sales of high rim diameter tires for passenger car as premium products, but also reinforces and expands the innovative tire technology ENLITEN as the new "premium". ENLITEN will expand its values not only as tire technology, but also as product, through improvement of tire performance which meets conditions of each customer use. Furthermore, the Group also aims to establish ENLITEN as business model in order to enhance its creation of social and customer values. The model embraces the activities for carbon neutrality, realizing circular economy, maximizing productivity and economic value through the entire value chain starting from research and development, production, sales, and customer use of tires.

The Bridgestone Group is implementing its Mid Term Business Plan (2021-2023) under Mid-Long Term Business Strategy, which aims to realize its vision to provide social value and customer value as a sustainable solutions company toward 2050. The Group will continue to contribute to the realization of a safe, secure, comfortable, and sustainable mobility society.

*1 "Dan-Totsu" means to be the clear and absolute leader.

*2 The Bridgestone Group's Mid Term Business Plan (2021-2023):
https://www.bridgestone.com/ir/library/strategy/index.html

About Bridgestone Corporation:
Bridgestone is a global leader in tires and rubber building on its expertise to provide solutions for safe and sustainable mobility. Headquartered in Tokyo, the company employs approximately 140,000 people globally and conducts business in more than 150 countries and territories worldwide. Bridgestone offers a diverse product portfolio of premium tires and advanced solutions backed by innovative technologies, improving the way people around the world move, live, work and play.