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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Bridgestone Corporation    5108   JP3830800003

BRIDGESTONE CORPORATION

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Bridgestone : Announces Discontinuation of Kart Tire Supply in 2022

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09/28/2020 | 10:38am EDT

Bridgestone Corporation today announced that it plans to discontinue supply of kart tires effective December 31, 2022.

Since 1977, Bridgestone has continued to develop, manufacture, and supply kart tires for domestic and overseas markets. In Japan, we have supplied kart tires accredited by the Japan Automobile Federation. Overseas, our kart tires have been homologated by Commission Internationale de Karting, an organization under the umbrella of the Federation Internationale de l'Automobile. These tires have been used to support the aspirations of kart racers of all types, from hobby to serious racers pursuing new heights in their sport.

The decision to discontinue kart tire supply was made through a careful examination of the company's portfolio and resource allocation to reflect operating environment changes consistent with the Group's Mid-Long Term Business Strategy. However, Bridgestone will be fully responsible for the supply of kart tires until December 31, 2022, at which time outstanding supply contracts with customers are scheduled to conclude.

We would like to express our sincere appreciation for the many customers and kart racing staff who have used our tires in their racing pursuits. Bridgestone will continue its passionate participation in motorsports as a company and we hope that our customers will continue to support Bridgestone's motorsports activities.

About Bridgestone Corporation

Bridgestone Corporation, headquartered in Tokyo, is a global company focused on delivering advanced mobility and solutions to customers around the world. In addition to tires and solutions for use in a wide variety of automotive and mobility applications, it also manufactures a broad range of diversified products, which include industrial rubber and chemical products and sporting goods. Bridgestone products are sold in over 150 nations and territories around the world.

Contact:

Tel: +61-7-3621-9030

Fax: +61-7-3621-9052

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials
Sales 2020 3 009 B 28 728 M 28 728 M
Net income 2020 110 B 1 052 M 1 052 M
Net cash 2020 22 295 M 213 M 213 M
P/E ratio 2020 23,1x
Yield 2020 2,76%
Capitalization 2 547 B 24 313 M 24 324 M
EV / Sales 2020 0,84x
EV / Sales 2021 0,78x
Nbr of Employees 143 589
Free-Float 79,8%
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Mean consensus HOLD
Number of Analysts 12
Average target price 3 704,55 JPY
Last Close Price 3 618,00 JPY
Spread / Highest target 11,9%
Spread / Average Target 2,39%
Spread / Lowest Target -6,03%
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Shuichi Ishibashi Chief Executive Officer & Director
Akihiro Eto President, Chief Operating Officer & Director
Masaaki Tsuya Chairman
Masato Sakano Chief Technology Officer
Hideo Hara Director
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