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

BRIDGESTONE CORPORATION

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France to discuss alternative scenarios for Bridgestone plant

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09/21/2020 | 12:15pm EDT
Japan's Bridgestone to close tyre factory in Bethune

The French government plans to discuss in two or three weeks time with all involved parties alternative scenarios for a French plant that tyre maker Bridgestone is considering closing, Junior Economy Minister Agnes Pannier-Runacher said on Monday.

The French government is looking into options to try to save jobs and prevent the closure of the Bethune tyre plant in northern France that Japan's Bridgestone plans to shut.

"We have agreed (with Bridgestone) to have in 2 to 3 weeks a meeting ... to review the different scenarios which are alternative scenarios to a site closure," Pannier-Runacher said after visiting the plant.

The state mandated Accenture to make an appraisal of all options.

With 863 employees, the factory has daily production capacity of about 17,000 tyres. Bridgestone has began talks to close the factory in the face of low demand for its main product, low-profile tyres.

A spokesman for the tyre maker said the company's priority was to carry out an "in-depth" study of alternative projects to reconvert the site with or without Bridgestone.

(Reporting by Dominique Vidalon and Gilles Guillaume; Writing by Maya Nikolaeva; editing by David Evans)


Stocks mentioned in the article
ChangeLast1st jan.
ACCENTURE PLC 1.83% 230.39 Delayed Quote.9.41%
BRIDGESTONE CORPORATION -0.77% 3363 End-of-day quote.-17.37%
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Financials
Sales 2020 3 009 B 28 544 M 28 544 M
Net income 2020 110 B 1 045 M 1 045 M
Net cash 2020 22 295 M 212 M 212 M
P/E ratio 2020 21,5x
Yield 2020 4,76%
Capitalization 2 368 B 22 430 M 22 465 M
EV / Sales 2020 0,78x
EV / Sales 2021 0,73x
Nbr of Employees 143 589
Free-Float 79,8%
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Mean consensus HOLD
Number of Analysts 12
Average target price 3 686,36 JPY
Last Close Price 3 363,00 JPY
Spread / Highest target 20,4%
Spread / Average Target 9,62%
Spread / Lowest Target -4,85%
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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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