News - 2021
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:
|Outline of Consolidation (Name of plants)|
|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＞
|Schedule of Closure
|3rd quarter of 2022
|1st quarter of 2023
|2nd quarter of 2023
*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
|Date of Announcement||Business||News Release|
|January 7, 2021||Commercial Roofing||LafargeHolcim to acquire Firestone Building Products from Bridgestone Americas|
|June 15, 2021||Synthetic Rubber in China||Bridgestone Announces its Progress of Rebuilding Earning Power Based on Mid Term Business Plan (2021-2023) Restructuring Synthetic Rubber Business in China|
|November 1, 2021||Conveyor Belt||Bridgestone Announces its Progress of Restructuring Diversified Products Business Based on Mid Term Business Plan (2021-2023) Withdrawing from Conveyor Belt Business|
*Manufacturing footprint restructuring