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

BRIDGESTONE CORPORATION

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Bridgestone : France outlines 100 mln euro plan to save Bridgestone plant

10/19/2020 | 12:29pm EST

PARIS, Oct 19 (Reuters) - The French government presented Bridgestone with a rescue plan on Monday to save one of the Japanese tyre-maker's plants in northern France, industry minister Agnes Pannier-Runacher said.

Bridgestone, which announced its plans to close the facility one month ago, is willing to examine the proposal, according to Pannier-Runacher.

She said the bailout involved a roughly 100 million euro investment that would safeguard the jobs of more than half of the 863 employees at the Bethune site.

"I had a shareholder who wasn't interested in reexamining the case. Now it is," Pannier-Runacher told a press conference, adding she did not exclude the involvement of the French state.

Bridgestone said in mid-September that shutting down the plant was the only response to excess capacity and safeguarding competitiveness.

There was no immediate reaction from Bridgestone on Monday.

Xavier Bertrand, who heads the Hauts-de-France regional authority and is a candidate for the conservative ticket in the 2022 presidential election, said he wanted a quick answer from the company.

"If it's a no, we'll enter into a battle to get the most for (the plant's) employees," Bertrand told the same news conference. "Because that's not how you pull out in France." (Reporting by Jean-Stephane Brosse; Writing by Richard Lough; Editing by Benoit Van Overstraeten and Hugh Lawson)


© Reuters 2020
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Financials
Sales 2020 3 027 B 28 987 M 28 987 M
Net income 2020 57 011 M 546 M 546 M
Net Debt 2020 90 816 M 870 M 870 M
P/E ratio 2020 49,6x
Yield 2020 2,65%
Capitalization 2 701 B 25 813 M 25 867 M
EV / Sales 2020 0,92x
EV / Sales 2021 0,85x
Nbr of Employees 143 589
Free-Float 79,8%
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Technical analysis trends BRIDGESTONE CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 12
Average target price 3 704,55 JPY
Last Close Price 3 836,00 JPY
Spread / Highest target 5,58%
Spread / Average Target -3,43%
Spread / Lowest Target -11,4%
EPS Revisions
Managers
NameTitle
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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