News - 2021

Bridgestone Consolidates Its Plants for Advanced Chemical Products in Japan; Progress of Restructuring Diversified Products Business Based on Mid Term Business Plan (2021-2023)

2021/11/26

Tokyo (November 26, 2021) ― Bridgestone Corporation (Bridgestone) announced today that it will consolidate its plants for advanced chemical products in Japan, which are now manufactured in 9 plants owned by its group company, Bridgestone Diversified Chemical Products Co., Ltd. (BDCP).

The initiative is a part of the company's global expense and cost structure reformation in the Mid Term Business Plan (2021-2023), announced on February 16, 2021. The Mid Term Business Plan aims to rebuild earning power through expense and cost structure reformation and enforcing premium business strategy to allow the company to enhance strategic growth investment. By executing these strategies, Bridgestone is transforming to a "strong" Bridgestone, capable of adapting to the changing business environment.

The following changes are being implemented:

Manufacturing
Products
Outline of Consolidation (Name of plants)
Advanced
Chemical Products
Before Consolidation (Current) : 9 plants
 Kita-Kanto, Totsuka, Komaki, Mie, Yoshida, Tosu, Shikoku, Gifu, Gotemba
After Consolidation : 6 plants
  To be consolidated into Kita-Kanto, Totsuka, Komaki, Mie, Yoshida, Tosu
  Shikoku, Gifu and Gotemba to be closed.

<Outline of plants to be closed>

Shikoku Gifu Gotemba
Schedule of Closure
Location

Employees*1
3rd quarter of 2022
Kita County,
Kagawa Prefecture
16
1st quarter of 2023
Anpachi County,
Gifu Prefecture
23
2nd quarter of 2023
Gotemba City,
Shizuoka Prefecture
44

*1 As of October 31, 2021

Bridgestone has been executing diversified products business restructuring based on Mid Term Business Plan (2021-2023). The company has thoroughly considered and evaluated the future of advanced chemical products business and decided to consolidate plants. This initiative will contribute to the reinforcement of the business structure.

The employees of 3 plants to be closed are highly skilled and experienced. Bridgestone is expecting all current employees to continue to work as members of BDCP.

Bridgestone is also working closely with customers, suppliers, and local communities to minimize the impact as much as possible.

The Bridgestone Group will reinforce its portfolio management in line with the changing business environment, to evolve to a sustainable solutions company which aims to continuously provide social value and customer value.

Bridgestone expects the impact on its consolidated financial results for 2021 to be minor.

For more information on the Bridgestone Group's Mid Term Business Plan (2021-2023), click here.

<For reference: Progress of business portfolio / manufacturing footprints restructuring>
*Business portfolio restructuring

*Manufacturing footprint restructuring

Date of Announcement Manufacturing Footprint News Release
August 21, 2020 Port Elizabeth Plant,
South Africa
Bridgestone announces its proposal to close tyre manufacturing plant in Port Elizabeth, South Africa
September 16, 2020 Bethune Plant, France Bridgestone announces project to cease activity at its Bethune plant in France
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March 29, 2021 Kisai Plant,
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Corporation
Japanese only
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Bridgestone Corporation
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October 8, 2021 Ageo Plant,
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Co., Ltd.
Bridgestone Announces its Progress of Restructuring Diversified Products Business Based on Mid Term Business Plan (2021-2023) Consolidating Its Plants for Automotive Seat Pads in Japan
November 26, 2021 3 Plants in Bridgestone Diversified Chemical Products Co., Ltd. Bridgestone Consolidates Its Plants for Advanced Chemical Products in Japan;
Progress of Restructuring Diversified Products Business Based on Mid Term Business Plan (2021-2023)