Tokyo - Bridgestone Corporation (Bridgestone) announced 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.

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.

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.

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