Consolidated Financial Statements for the Fiscal Year Ended December 31, 2015
February 17, 2016
These financial statements, prepared in accordance with accounting principles generally accepted in Japan, havebeen translated for reference only from the original Japanese-language document "KESSAN TANSHIN". The
entire format is pursuant to the requirements or guidance of Tokyo Stock Exchange. As for the contents, if there
are any differences or discrepancies between the original Japanese-language and the English translation, theoriginal Japanese-language supersedes this English translation.
Bridgestone Corporation
Stock exchange listings: Tokyo, Nagoya, Fukuoka
Code number:5108
URL:http://www.bridgestone.co.jp
Representative: Masaaki Tsuya, CEO and Representative Board Member, Concurrently Chairman of the Board
Contact:
Naoki Hishinuma, Treasurer, General Manager
Telephone:+81-3-6836-3100
Scheduled date of annual shareholders’ meeting:March 24, 2016
Scheduled date of securities report submission:
March 24, 2016
Scheduled date of dividend payment commencement:
March 25, 2016
Supplementary information for the financial statements to be prepared:
Yes
Meeting to explain for the quarterly financial statements to be held:
Yes(All amounts are rounded down to the nearest million yen)

1. Consolidated Results for Fiscal 2015(January 1, 2015 - December 31, 2015)(Percentage figures represent changes from the same period of previous year)(1) Consolidated Operating Results
Net sales

Operating income

Yen in millions

Fiscal 2015
Fiscal 2014%

Yen in millions

3,790,251
3,673,964

3.2
3.0(Reference) Comprehensive Income: Fiscal 2015
Net income
per share

Ordinary income%

Net income

Yen in millions%

Yen in millions%

517,2488.2
507,303
9.5
284,294(5.4)
478,0389.1
463,2126.5
300,58948.8¥ 250,870 million [(27.0%)] Fiscal 2014 ¥ 343,697 million [(28.4%)]

Diluted net income
per share
Yen

Net return on Total
equityYen

Ordinary income/ Total assets%

Fiscal 2015
362.99362.52
Fiscal 2014
383.84383.39(Reference) Equity in earnings of affiliates: Fiscal 2015 ¥ 3,639 million

13.3
15.5
Fiscal 2014

Operating income
margin

%

%

13.1
12.3
¥ 4,099 million

13.6
13.0

(2) Consolidated Financial Position
Total assets

Ratio of total equity tototal assets

Net assets

Total equity per share

Yen in millions

Yen in millions%

Yen

3,795,846
3,960,908

2,282,011
2,146,657
Fiscal 2015
Fiscal 2014

58.2
52.4

2,820.48
2,650.47

Fiscal 2015
Fiscal 2014
(Reference) Total equity¥ 2,209,068 million¥ 2,075,685 million(3) Consolidated Cash FlowsNet cash provided
by operating activities

Net cash provided by(used in) financing
activities

Net cash used ininvesting activities

Cash and cash
equivalents at end ofyear

Yen in millions

Yen in millions

Yen in millions

Yen in millions

553,938
428,621(233,380)(305,696)(238,805)(67,935)

426,727
390,181

Fiscal 2015
Fiscal 2014

2. Dividends
1stquarterend

Dividend per share
2nd
3rd
Year
quarterquarter
-end
end
end

Yen

Fiscal 2014
Fiscal 2015
Fiscal 2016
(Projection)

Yen

Yen

Total

Dividends
Pay-out
ratio(Consolidated)

Total
dividends

Ratio ofdividends
to total equity(Consolidated)

Yen

Yen

Yen in millions

%

%

－
－

40.00
60.00

－
－

60.00
70.00

100.00130.0078,313
101,819

26.1
35.8

4.0
4.8

－

70.00

－

70.00

140.0035.5

3. Consolidated Projected Results for Fiscal 2016 (January 1, 2016 - December 31, 2016)(Percentage figures represent changes from the same period of previous year)
Profit attributable to
Net income
Operating income
Ordinary income
owners of parent
per share

Net salesFirst half year
Fiscal 2016

Yen in millions%

Yen in millions%

Yen in millions%

Yen in millions%

Yen

1,770,000
3,750,000

(4.6)
(1.1)

237,000
520,000(0.3)
0.5

214,000
487,000

(8.2)
(4.0)

128,000
309,000(11.5)
8.7

163.43394.53

* Notes(1) Changes in principal subsidiaries during fiscal 2015 : No
(Changes in specified subsidiaries involving change in consolidation scope)(2) Changes in accounting policy, changes in accounting estimates, and restatements
1) Changes due to revisions of accounting standards, etc. : Yes
2) Changes in accounting policy other than 1): No3) Changes in accounting estimates: No4) Restatements: No(3) Outstanding number of shares (common stock)
1) Outstanding number of shares at period end (including treasury stock):
December 31, 2015
813,102,321 shares
December 31, 2014
813,102,321 shares
2) Number of shares of treasury stock at period end
December 31, 2015
December 31, 2014

29,878,493 shares
29,965,086 shares

3) Average outstanding number of shares (during the fiscal year)
December 31, 2015
783,204,319shares
December 31, 2014
783,111,356 shares(Reference) Summary of Non-consolidated Results(January 1, 2015 - December 31, 2015)(1) Non-consolidated Operating Results
Net sales
Fiscal 2015
Fiscal 2014

Operating income

Ordinary income

Net income

Yen in millions%

Yen in millions%

Yen in millions%

Yen in millions%

912,670
990,746

(7.9)
(1.6)

189,147
195,142

(3.1)
(5.0)

226,901
227,714(0.4)
2.6

171,020
112,54252.0
24.8

Net income
per share
Fiscal 2015
Fiscal 2014

(Percentage figures represent changes from the same period of previous year)

Diluted net income
per share
Yen

Yen

218.36143.71218.07143.54(2) Non-consolidated Financial Position
Total assets
Yen in millions

Net assets

Ratio of total equity tototal assets

Yen in millions

Fiscal 2015
2,011,618
1,488,494
Fiscal 2014
1,990,424
1,401,049(Reference) Total equity: Fiscal 2015
¥ 1,486,024 million
Fiscal 2014

Total equity per share

%

73.9
70.3
¥ 1,399,103 million

Yen

1,897.31
1,786.53* Status of implementation of audit proceduresThis kessan tanshin document is outside the scope of audit procedures based on the Financial Instruments andExchange Act. As of the time of its disclosure, audit procedures with respect to the financial statements were in theprocess of being implemented.
* Statement regarding appropriate use of forward-looking statements and other notes
The preceding descriptions of projections and plans are “forward-looking statements”, which involve known andunknown risks and uncertainties. These variables could cause the Bridgestone Group’s actual performance andresults to differ substantially from management’s projections and plans, and the statements are not guarantees of
future business performance. For further details, please see page 4, “Projections for fiscal 2016.”

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

[ Index ]…P2

1. Operating Results(1) Analysis of Operating Results…P2(2) Analysis of Financial Position…P5(3) Basic policy for the appropriation of profits and dividends for the fiscal 2015 and 2016

…P6

2. BRIDGESTONE Group’s Major Subsidiaries and Business Relation Flowchart…P7

3. Management Policies…P8(1) Basic Management Policies…P8(2) Management Strategies and Tasks…P8

4. Basic Policy on the Selection of Accounting Standard…P9

5. Consolidated Financial Statements…P10(1) Consolidated Balance Sheet…P10(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income…P12

Consolidated Statement of Income…P12

Consolidated Statement of Comprehensive Income…P13(3) Consolidated Statement of Changes in Net Assets…P14(4) Consolidated Statement of Cash Flows…P16(5) Notes to the consolidated financial statements…P18(Notes regarding going concern assumption)…P18(Basic important matters for preparation of consolidated financial statements)…P18(Changes in accounting policy, etc.)…P21(Changes in presentation)…P22(Additional Information)…P22(Consolidated Balance Sheet)…P23(Consolidated Statement of Income)…P24(Consolidated Statement of Changes in Net Assets)…P25(Consolidated Statement of Cash Flows)…P27(Segment Information)…P28(Per share information)…P30(Significant subsequent events)

…P31
…P32

6. Other…P32(1) Senior Management Changes

1Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

1. Operating Results
The Bridgestone Corporation is referred to as the “Company”, and the Company and its subsidiaries are referred toas the “Companies”.
(1) Analysis of Operating Results[Operating results for fiscal 2015]
1) Sales and earnings
Fiscal 2015

Net sales

Increase(Decrease)

Fiscal 2014

Yen in billions

Yen in billions

Yen in billions%

3,790.2

3,673.9

116.2

3

Operating income

517.2

478.0

39.2

8

Ordinary income

507.3

463.2

44.0

10

Net income

284.2

300.5

(16.2)(5)

During fiscal 2015 (January 1 to December 31, 2015), the operating environment surrounding Companies was asfollows: the Japanese domestic economy continued gradual recovery with an improvement in company financial
performance and the employment environment while the appreciation of the US dollar and lower price of crude oil
continued. The United States economy continued steady recovery supported by an increase in consumer
spending. The European economy has been affected by geopolitical risks, although it has been recovering. The
Asian economic growth speed has been slow, particularly in China. Overall, many international economies wererecovering weakly while the political and economic situation remained unstable.
Under these operating conditions, the Companies continued our work to realize the ultimate goal of becoming “atruly global company” and achieving “Dan-Totsu in all aspects of our business.” Stepping up efforts on a global
scale, the Companies were working harder than ever to anticipate market trends and competitors’ movements, aswell as enhance technologies and promote innovation to expand our line-up of highly competitive products andservices, and building and enhancing business models to extend beyond the mere sales of products. Moreover, theCompanies were striving to rapidly implement a range of initiatives to increase the sales of strategic products,
strengthen supply capacity, improve manufacturing productivity, effectively utilize management resources, anddevelop eco-friendly products and businesses.
As a result, net sales in fiscal 2015 were ¥3,790.2 billion, an increase of 3% from fiscal 2014; operating income
was ¥517.2 billion, an increase of 8%; ordinary income was ¥507.3 billion, an increase of 10%; and net income was¥284.2 billion, a decrease of 5%.
In addition, the Companies have recorded an extraordinary loss of ¥43.5billion from the deconsolidation of
Venezuelan subsidiary, Bridgestone Firestone Venezolana, C.A. and its subsidiary.

2

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

2) Segment Information

Fiscal 2015

Increase(Decrease)

Fiscal 2014

Yen in billions

Yen in billions

Yen in billions%

3,174.4

3,093.3

81.0

3Operating income

472.7

435.8

36.9

8

Diversified
Products

Net Sales

635.0

601.8

33.1

6

Operating income

44.5

42.1

2.3

6

Consolidated
Results

Net Sales

3,790.2

3,673.9

116.2

3

517.2

478.0

39.2

8

Net Sales
Tires

Operating income

In the tires segment, the Companies worked to maximize sales momentum by introducing appealing new products
globally, enhancing strategic products and reinforcing fundamental competencies such as specification optimization,and responding promptly to demand fluctuation in each region.
In Japan, due to the lower winter tire demand associated with warm winter, the unit sales of tires for passenger car
and light truck decreased and the unit sales of tires for trucks and buses remained unchanged from fiscal 2014 dueto an increase in the sales of original equipment tires. In the Americas, the unit sales of tires for passenger cars andlight trucks in North America increased firmly and the unit sales of tires for trucks and buses increased steadily
compared to fiscal 2014. In Europe, the unit sales of tires for passenger car and light truck tires increased strongly
compared to fiscal 2014, as well as tires for trucks and buses. In China and Asia Pacific, the unit sales of tires forpassenger cars and light trucks increased strongly and the unit sales of tires for trucks and buses increased steadily
compared to fiscal 2014. In the specialty tire business, sales of large and ultra-large off-the-road radial tires forconstruction and mining vehicles were down year on year due to a delayed recovery in demand stemming from tire
inventory adjustments at mines
As a result, net sales in the tires segment during fiscal 2015 totaled ¥3,174.4 billion, an increase of 3% from fiscal
2014; operating income was ¥472.7 billion, an increase of 8%.
In the diversified products segment, net sales totaled ¥635.0 billion, an increase of 6% from fiscal 2014, andoperating income was ¥44.5 billion, an increase of 6% from fiscal 2014 due to an increase in the profit of BSAM
Diversified Product business.
(Note) The amounts for segment results include inter-segment transactions that are eliminated in calculating theconsolidated results.

3

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

[Projections for fiscal 2016]
The Companies' operating environment will continue to require careful attention due to such factors asfluctuations in exchange rates and the prices of raw materials and feedstocks, an ongoing lack of clarity in the
global economic situation and international political conditions that remain unstable.
Amid such a challenging business environment, the Companies project the following results through theimplementation of Mid-Term Management Plan initiatives.
Fiscal 2016
projections

Increase(Decrease)

Yen in billions

Yen in billions

Yen in billions%

1,770.0

1,855.4(85.4)(5)

Operating income

237.0

237.7

(0.7)

―

Ordinary income

214.0

232.9

(18.9)(8)

Net income

128.0

144.6

(16.6)(12)

Net sales

3,750.0

3,790.2(40.2)(1)

Operating income

520.0

517.2

2.7

1

Ordinary income

487.0

507.3

(20.3)(4)

Net income

309.0

284.2

24.7

9

Yen

Yen

yen/dollar

115

120

yen/euro

127

134

yen/dollar

115

121

(5)

yen/euro

127

134

(5)

Net salesFirst half

Fiscal 2015

Full-year

First half
Exchange
rate

(4)
－

(5)

Full-year

Forward-Looking Statements
The preceding descriptions of projections and plans are “forward-looking statements,” which involve known andunknown risks and uncertainties. These variables could cause the Bridgestone Group’s actual performance andresults to differ substantially from management’s projections and plans, and the statement are not guarantees of
future business performance.

4

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(2) Analysis of Financial Position
1) Cash flow

Fiscal 2015

Increase(Decrease)

Fiscal 2014

Yen in billions

Yen in billions

Yen in billions

Net cash provided by operating activities

553.9

428.6

125.3

Net cash used in investing activities(233.3)(305.6)72.3

Net cash used in financing activities(238.8)(67.9)(170.8)

Effect of exchange rate changes
on cash and cash equivalents(35.3)

10.5(45.9)Net increase (decrease)in cash and cash equivalents

46.4

65.5

(19.1)

390.1

324.5

65.5

(9.8)

―

(9.8)

426.7

390.1

36.5

Cash and cash equivalents at beginning ofyear
Decrease in cash and cash equivalents
resulting from exclusion of subsidiaries
from consolidation
Cash and cash equivalents at end of year

The Companies’ cash and cash equivalents increased ¥36.5 billion during 2015, to ¥426.7 billion, compared withan increase of ¥65.5 billion during the prior year.
(Cash flows from operating activities)
Net cash provided by operating activities increased ¥125.3 billion compared with the prior year, to ¥553.9 billion.
The principal contributors in that cash provided included income before income taxes and minority interests of¥478.1 billion, compared with ¥477.7 billion during the prior year, depreciation and amortization of ¥202.3 billion,
compared with ¥188.3 billion during the prior year. These contributors offset income taxes paid of ¥126.8 billion,
compared with ¥128.0 billion during the prior year.
(Cash flows from investing activities)
Net cash used in investing activities decreased ¥72.3 billion compared with the prior year, to ¥233.3 billion. The
principal contributor in that cash used included payments of ¥255.2 billion for purchase of tangible fixed assets,compared with payments of ¥288.3 billion during the prior year.
(Cash flows from financing activities)
Net cash used in financing activities increased ¥170.8 billion compared with the prior year, to ¥238.8 billion. The
principal contributors in that cash used included net decrease in short-term borrowings and commercial paper of¥61.0 billion, compared with net increase of 6.8 billion during the prior year, repayments for long-term borrowingsof ¥97.4 billion, compared with ¥121.6 billion during the prior year, and cash dividends paid of ¥93.9 billion,
compared with ¥54.7 billion during the prior year. These contributors offset proceeds from long-term borrowings of¥24.5 billion, compared with ¥99.3 billion during the prior year.

5Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

2) Trends in cash flow indicators

Fiscal 2013

Fiscal 2014

Fiscal 2015

Ratio of total equity to total assets (%)

50.5

52.4

58.2

Total equity ratio on market value basis (%)

87.1

83.0

86.1

Interest-bearing debt / cash flow ratio(years)

1.2

1.4

0.8

Interest coverage ratio(times)

31.8

29.0

44.4

(Note) Ratio of total equity to total assets : Total equity / total assets
Total equity ratio on market value basis : Market capitalization / total assets
Interest-bearing debt / cash flow ratio : Interest-bearing debt / cash flow
Interest coverage ratio : cash flow / interest payments* All indices are calculated using consolidated financial figures.
* Market capitalization is calculated as closing share price at the end of period × number of shares
outstanding at the end of period (excluding treasury stock).
* For cash flow, the figure for net cash provided by operating activities in the consolidated statements ofcash flows is used. For interest-bearing debt, the sum for all liabilities in the consolidated balance
sheets for which interest is paid is used. For interest payments, the figure for interest paid in the
consolidated statements of cash flows is used.

(3) Basic policy for the appropriation of profits and dividends for the fiscal 2015 and 2016
Regarding the interests of shareholders as an important management priority, the Companies follow a basic policyof strengthening our management base in preparation for future business developments while working to improvebusiness results. In regard to distributing profits to shareholders, the Companies conducts shareholder returns while
maintaining an appropriate financial position and securing the internal revenues necessary for future growthinvestments. In determining dividend payments, the Companies comprehensively evaluates factors including
business results, financial condition for the relevant fiscal period, medium-term earnings forecasts, investment plans,and cash flows. Based on these considerations, the Companies strive to live up to expectations of shareholders by
issuing stable dividend payments targeting a consolidated payout ratio of 20%–40%.
The Companies pays dividends twice a year, comprising year-end and interim cash dividends. Year-end cash
dividends are subject to approval by a resolution of the annual shareholders’ meeting, while interim cash dividends
are subject to approval by a resolution of the Board of Directors.
Further, the Companies strives to strengthen the long-term stability of our management base by using retained
earnings to improve and expand production and sales systems and advance R&D activities in Japan and overseas.
For the fiscal 2015, the Companies plan to pay a cash dividend of ¥130 per share, comprising a year-end cash
dividend of ¥70 per share and an interim cash dividend of ¥60 per share.
For the fiscal 2016, the Companies plan to pay a cash dividend of ¥140 per share, comprising a year-end cash
dividend of ¥70 per share and an interim cash dividend of ¥70 per share.

6

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

2. BRIDGESTONE Group’s Major Subsidiaries and Business Relation Flowchart
AS OF DECEMBER 31, 2015
Flow of products and services
TIRES
TIRE MANUFACTURING AND SALESTIRE SALESBRIDGESTONE AMERICAS TIRE OPERATIONS, LLC
BRIDGESTONE BANDAG, LLC
BRIDGESTONE CANADA INC.
BRIDGESTONE DE MEXICO, S.A. DE C.V.
BRIDGESTONE DO BRASIL INDUSTRIA E COMERCIO LTDA.
BRIDGESTONE ARGENTINA S.A.I.C.
BRIDGESTONE POZNAN SP. Z O.O.
BRIDGESTONE FRANCE S.A.S.
BRIDGESTONE HISPANIA S.A.
BRIDGESTONE SOUTH AFRICA (PTY) LTD.
BRIDGESTONE INDIA PRIVATE LTD.
THAI BRIDGESTONE CO., LTD.
BRIDGESTONE TIRE MANUFACTURING (THAILAND) CO., LTD.
P.T. BRIDGESTONE TIRE INDONESIAAND OTHERSBRIDGESTONE RETAIL JAPAN CO., LTD.
BRIDGESTONE RETAIL OPERATIONS, LLC
BRIDGESTONE DEUTSCHLAND GMBH
BRIDGESTONE UK LTD.
BRIDGESTONE ITALIR SALES S.R.L.
BRIDGESTONE AUSTRALIA LTD.
BRIDGESTONE C.I.S. LLC
BRIDGESTONE EARTHMOVER TYRES PTY. LTD.
AND OTHERSPRODUCTION AND SALES OF TIRE RAW MATERIALMANAGEMENT AND TIRE SALESFIRESTONE POLYMERS, LLC
AND OTHERSBRIDGESTONE TIRE JAPAN CO., LTD.
BRIDGESTONE AMERICAS, INC.
BRIDGESTONE EUROPE NV/SA
BRIDGESTONE MIDDLE EAST & AFRICA FZE.
BRIDGESTONE ASIA PACIFIC PTE. LTD.
BRIDGESTONE (CHINA) INVESTMENT CO., LTD.

BRIDGESTONE CORPORATION

DIVERSIFIED PRODUCTSCHEMICAL AND INDUSTRIAL PRODUCTS

SPORTING GOODSBRIDGESTONE DIVERSIFIED CHEMICAL PRODUCTS CO., LTD.
BRIDGESTONE DIVERSIFIED PRODUCTS JAPAN CO., LTD.
AND OTHERSBRIDGESTONE SPORTS CO., LTD. AND OTHERSBICYCLESBRIDGESTONE CYCLE CO., LTD.

AND OTHERS

BSAM DIVERSIFIED PRODUCTS

OTHERSFIRESTONE BUILDING PRODUCTS COMPANY, LLC
AND OTHERSBRIDGESTONE FINANCE CORPORATIONBRIDGESTONE TREASURY SINGAPORE PTE. LTD.
AND OTHERS

All of the above-mentioned companies are our consolidated subsidiaries.

7

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

3. Management Policies(1) Basic Management Policies
The Companies will pursue the ultimate goals of becoming “a truly global company” and achieving “Dan-Totsu in
all aspects of our business” based on a corporate philosophy that consists of a “mission”, “serving society withsuperior quality” and four “foundations” for fulfilling the mission — “Seijitsu-Kyocho [Integrity and Teamwork]”,“Shinshu-Dokuso [Creative Pioneering]”, “Genbutsu-Genba [Decision-Making Based on Verified, On-SiteObservation]”, and “Jukuryo-Danko [Decisive Action after Thorough Planning]”. Further, as a responsible global
company, the Companies will respect the social culture and values, comply with laws and statutory regulations,protect the global environment, and work on social contribution activities in the countries in which we conductbusiness activities contribute to society.
(2) Management Strategies and Tasks
The Companies’ operating environment is undergoing substantial change in a wide range of areas, includinginternational relations, politics, the economy, the environmental problems, technological innovation. Social structuresand consumer attitudes are also changing significantly.
In this setting, the Companies remain firmly committed to the basic stance of “Lean & Strategic” and “Group Global
optimization.” In other words, the Companies maintain an optimum balance between short-term management andmid- and long-term management measures, with a focus on “Lean” in the short-term and “Strategic” in the mid- andlong-term. At the same time, the Companies continue to implement management reforms, giving the highest priority
to optimization on a group and global basis. In this way, the Companies strive to achieve the goals outlined above.
In accordance with this fundamental approach, the Companies make full use of “the Strategic Business Unit (SBU)
based organization” and “the Mid-Term Management Plan (MTP)” as tools to improve the quality and the speed ofmanagement reforms.
The 2015MTP, which was announced in October 2015, includes three priority issues: “cultivating global corporate
culture,” “developing human resources capable of global management,” and “upgrading the global management
structure.”
In regard to the first item, “cultivating global corporate culture,” the Companies will ensure overall consistency on agroup and global basis, promote the brand strategies as a part of a fully integrated marketing strategy. In an
operating environment undergoing significant change, the Companies will reinforce our corporate structure toaccelerate technology and business model innovation by taking actions such as the optimization of the R&D
structure on a global basis, establishment of “Solutions Business Companies for Mining and Agricultural Machinery”
which started on Jan.1, 2016. The Companies are also trying to anticipate market trends, expand our line-up of
highly competitive products and services, and construct and enhance business models that will extend beyond themere sales of products. The Companies are also pursuing continuous improvement in all areas of management. In
these ways, the Companies will create customer value and ensure further development of our competitive advantage
and differentiation.
In regard to the second item, “developing human resources capable of global management,” the Companies will
promote global and regional talent rotations and also conduct training and development programs. The Companies
will promote further development of environment and structure such as conducting global meetings including the
Global Executive Operational Committee (Global EXCO) which is the highest body of global business execution in
English to enable diverse talents to fulfill their potential.
In regard to the third item, “upgrading the global management structure,” the Companies will promote three
activities: “enhancement of governance systems,” “restructuring of the tire business SBUs,” and “expansion of thediversified product business.”
In the “enhancement of governance systems”, the Board of Directors, held on Oct. 14, 2015, decided to propose
the shift from "Company with Board of Company Auditors" to the "Company with Nominating Committee, etc." to the8Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015next Annual Shareholder’s Meeting to be held in March 2016. The Companies have determined that the introductionof the "Company with Nominating Committees etc." model of corporate governance at this time will serve to further
strengthen our internal control systems while enabling both more effective strategic planning and efficient decision
making.
In the “restructuring of the tire business SBUs,” the Companies restructured the Europe SBU by merging the
Middle East, Africa, and Turkey, and will further continue to pursue the optimization of our global management
system.
In the “expansion of the diversified product business,” the Companies will promote the globalization of major
businesses of conveyor belt, anti-vibration rubber, etc. to guide the diversified product business to its next growth
spurt. In addition, the Companies strengthen the expansion of its solution business including services, rather thansimply combining existing product-based businesses.
In addition, the Companies will step up efforts to build systems to support the fulfillment of responsibilities as acorporate group toward all of our stakeholders. To meet this objective, the Companies have enhanced our corporate
philosophy structure, beginning with the refinement of corporate philosophy in 2011. Subsequently, the Companies
refined the Environmental Mission Statement and the Safety Mission Statement, and completed the series of
initiatives with the adoption of the Quality Mission Statement in 2015. Going forward, the Companies will deploy,sustain, and evolve our business activities on a group-global basis based on this corporate philosophy structure. The
Companies will review our policy as needed for the development of internal control systems that ensure appropriate
operations and steadily develop systems in accordance with the policy. The Companies’ corporate social
responsibility activities will establish systems and heighten the effectiveness of activities in all areas, including
rigorous risk management for environmental protection, product safety, compliance and disaster prevention andsafety initiatives; employee education; and corporate citizenship activities. The Companies remain committed tofurther enhancing compliance systems, based the reflection of a plea agreement with the U.S. Department of Justicein relation to cartel activities with respect to the sale of anti-vibration rubber products for vehicles in February 2014.

4. Basic Policy on the Selection of Accounting Standard
The Companies prepare and disclose our Consolidated Financial Statements in accordance with “Japanese
Generally Accepted Accounting Principles”. With respect to International Financial Reporting Standards (IFRS), theCompanies have the plan for voluntary adoption of IFRS in the future. Timing of the adoption is under consideration.

9

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

5. Consolidated Financial Statements(1) Consolidated Balance Sheet(Yen in millions)
Previous Year(As of December 31, 2014)

Current Year(As of December 31, 2015)

AssetsCurrent Assets
Cash and deposits

390,444387,652

Notes and accounts receivable

541,866

488,832

Short-term investments

149,239

217,348

Merchandise and finished products

388,393370,046

Work in process

38,30835,877

Raw materials and supplies

170,834

149,815

Deferred tax assets

91,24979,550Other

118,742

112,790

Allowance for doubtful accounts(11,430)(33,357)

Total Current Assets(Note2)

1,877,649(Note2)

1,808,557

Fixed Assets
Tangible fixed assets
Buildings and structures, net

527,171537,244

Machinery, equipment and vehicles, net

543,765

523,389

Land

172,522

172,458

Construction in progress

208,780

179,597

Other, net

91,93591,200Total tangible fixed assets(Note1)Intangible fixed assets

1,544,174(Note1)

71,624

1,503,891
68,388Investments and other assets
Investments in securities(Note3)

288,455(Note3)299,129

Long-term loans receivable

5,664

5,638

Deferred tax assets

90,475

49,116

Net defined benefit asset

14,031―

Other

75,34867,004

Allowance for doubtful accounts(6,515)(5,880)Total investments and other assets

467,459

415,009

Total Fixed Assets(Note2)

Total Assets

2,083,258
3,960,908

10(Note2)

1,987,289
3,795,846

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(Yen in millions)
Previous Year(As of December 31, 2014)

Current Year(As of December 31, 2015)

Liabilities
Current Liabilities
Notes and accounts payable

198,166

181,973

Short-term borrowings

221,478

125,908－

30,000

Lease obligations

7,431

1,137

Income taxes payable

46,48950,523

Deferred tax liabilities

1,820

1,803

Provision for sales returns

3,017

3,062

Provision for recall

7,894

1,196

860

―

Accounts payable-other191,240

164,491

Accrued expenses

238,329

226,294

Other

59,46948,723

Total Current Liabilities

976,198

835,114

Bonds

120,000

90,000Long-term borrowings

237,948

188,275

Lease obligations

6,136

6,256

Deferred tax liabilities

68,067

48,864

Warranty reserve

28,03829,371

Provision for environmental remediation

2,465

2,165

Net defined benefit liability

314,567

259,521

Other

60,82754,266

Total Long-term Liabilities

838,051

678,720

1,814,250

1,513,835

Common stock

126,354

126,354

Capital surplus

123,008

123,025

1,842,914

2,014,497(56,367)(56,212)2,035,908

2,207,664

Accumulated Other Comprehensive Income
Net unrealized gain(loss) on
available-for-sale securities
Deferred gain(loss) on derivative instruments

168,172

192,324(2,189)(776)

Foreign currency translation adjustments

39,108(55,406)

Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeStock Acquisition Rights(165,314)(134,736)

39,776

1,404

1,945

2,469

Minority Interests

69,02670,473

Total Net Assets

2,146,657

2,282,011

Total Liabilities and Net Assets

3,960,908

3,795,846

Current portion of bonds

Provision for plant restructuring in Japan

Long-term Liabilities

Total Liabilities
Net Assets
Shareholders' Equity

Retained earnings
Treasury stock-at cost
Total Shareholders’ equity

11

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income(Yen in millions)
Previous Year
(Year ended December 31, 2014)

Current Year
(Year ended December 31, 2015)

Net Sales

3,673,964

3,790,251

Cost of Sales

2,289,625

2,293,937

Gross Profit

1,384,339

1,496,313

Goods freightage expenses

151,890

160,270

Advertising and promotion expenses

124,339

128,341

Salaries, allowances and bonuses

238,506

265,869

Retirement benefit expenses

18,75024,385

Depreciation

29,37832,147

Selling, General and Administrative Expenses

Research and development expenses(Note1)

Other
Total selling, general andadministrative expenses
Operating Income

94,147(Note1)

94,977249,287

273,072

906,300

979,065

478,038

517,248

Interest income

6,326

5,916

Dividend income

7,982

8,332

Penalty income

―

4,783

Other

19,91017,689Total non-operating income

34,21836,721

Interest expense

14,662

12,118Foreign currency exchange loss

6,130

10,437

Other

28,251

24,110Total non-operating expenses

49,044

46,666

Ordinary Income

463,212507,303

Non-operating Income

Non-operating Expenses

Extraordinary Income
Gain on sales of tangible assets(Note2)

8,614(Note2)

5,277

Gain on sales of investment securities

5,925

15,480Total extraordinary income

14,54020,758Loss on disposals of tangible assets

－

6,397

Loss on deconsolidation of subsidiaries－

Total extraordinary losses
Income before Income Taxes andMinority Interests
Income taxes - current－

49,903477,753

478,159

124,384

155,360

Income taxes - deferred

43,31927,123

Total income taxes

167,704

182,484

Income before minority interests

310,048

295,675

9,458

11,380300,589284,294

Extraordinary Loss

Minority Interests
Net Income

12(Note3)43,505

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

Consolidated Statement of Comprehensive Income(Yen in millions)
Previous Year
(Year ended December 31, 2014)
Income before Minority Interests

Current Year
(Year ended December 31, 2015)

310,048

295,675(32,537)

24,138

(598)

1,268

131,196(97,829)

Remeasurements of defined benefit plans(64,354)

30,370Share of other comprehensive income inaffiliates(58)(2,752)

33,649(44,804)

343,697

250,870

Shareholders of Bridgestone Corporation

327,592

245,922

Minority Interests

16,104

4,948

Other Comprehensive Income (loss)
Unrealized gain (loss) on available-for-salesecurities
Deferred gain (loss) on derivative
instruments
Foreign currency translation adjustments

Total other comprehensive income
Comprehensive Income
Comprehensive income attribute to:13

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(3) Consolidated Statement of Changes in Net Assets
Previous Year (Year ended December 31, 2014)(Yen in millions)Shareholders’ equity

Beginning balanceCommon stock

Capital surplus

126,354

122,865

Retainedearnings

Treasurystock-at cost

1,597,140

Total(56,644)

1,789,714

(12)
289

(54,815)300,589
(12)
432

276
(56,367)

246,1932,035,908(Changes in the year)(54,815)300,589

Cash dividends
Net income for the year
Purchase of treasury stock

142

Disposal of treasury stock
Net changes in the year
Total changes in the year
Ending balance－
126,354

142
123,008

245,774
1,842,914

Accumulated other comprehensive income

Beginning balance

Net unrealized
gain (loss)
on availablefor-salesecurities

Deferredgain (loss)
on derivative
instruments

Foreigncurrencytranslation
adjustments

Remeasurementsof defined benefit
plans

200,703(1,092)(86,177)(32,531)(32,531)
168,172(1,096)(1,096)(2,189)125,285
125,285
39,108StockacquisitionrightsMinority
interests(97,863)

1,621

56,057(67,451)(67,451)(165,314)

324
324
1,945

12,96912,96969,026(Changes in the year)
Cash dividends
Net income for the year
Purchase of treasury stock
Disposal of treasury stock
Net changes in the year
Total changes in the year
Ending balance

14

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

Current Year (Year ended December 31, 2015)(Yen in millions)Shareholders’ equity

Beginning balance
Cumulative effects of changes
in accounting policies
Restated balanceCommon stock

Capital surplus

126,354

123,008

Retainedearnings

Treasurystock-at cost

1,842,914(56,367)(18,729)
126,354

123,008

1,824,184

Total

2,035,908(18,729)(56,367)

2,017,179

(12)
167

(93,981)284,294
(12)
184

155
(56,212)

190,484
2,207,664(Changes in the year)(93,981)284,294

Cash dividends
Net income for the year
Purchase of treasury stock

16

Disposal of treasury stock
Net changes in the year
Total changes in the year
Ending balance－
126,354

16
123,025

190,3122,014,497

Accumulated other comprehensive income

Beginning balance
Cumulative effects of changes
in accounting policies
Restated balance

Net unrealized
gain (loss)
on availablefor-salesecurities

Deferredgain (loss)
on derivative
instruments

Foreigncurrencytranslation
adjustments

Remeasurementsof defined benefit
plans

168,172(2,189)39,108168,172(2,189)24,151
24,151
192,324

1,412
1,412
(776)

Stock
acquisition
right

Minority
interests(165,314)

1,945

69,026

39,108(165,314)

1,945

69,026(94,515)(94,515)(55,406)

30,57830,578(134,736)

524
524
2,469

1,446
1,446
70,473(Changes in the year)
Cash dividends
Net income for the year
Purchase of treasury stock
Disposal of treasury stock
Net changes in the year
Total changes in the year
Ending balance

15

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(4) Consolidated Statement of Cash Flows(Yen in millions)
Previous Year
(Year ended December 31, 2014)

Current Year
(Year ended December 31, 2015)

Cash Flows from Operating Activities
Income before income taxes and minority
interests
Depreciation and amortization
Amortization of goodwill

477,753

478,159

188,332

202,333

1,245

2,146

Increase(decrease) in allowance for
doubtful accounts
Increase(decrease) in net defined benefit
liability
Interest and dividend income
Interest expense

205

1,388

(26,290)(15,204)(14,308)
14,662(14,249)
12,118Foreign currency exchange loss (gain)

7,516

6,442

―

(4,783)Gain on sales of tangible fixed assets
Loss (gain) on sales of investment insecurities
Loss on disposals of tangible fixed assets
Loss on deconsolidation of subsidiaries
Decrease(increase) in notes and accounts
receivable(8,614)(5,277)(5,925)(15,480)

―
―

6,397
43,505(4,263)(14,408)

Decrease(increase) in inventories

2,292

(536)

Increase(decrease) in notes and accounts
payable

7,734(19,522)

Other(20,167)

18,145

Subtotal

620,172

681,175

Interest and dividends received

14,322

14,046

Interest paid

(14,791)(12,483)―

4,783

Payment related to US antitrust laws

(43,651)―

Payment related to recall(11,668)(6,697)

Payment related to plant restructuring inJapan(7,700)―

Income taxes paid

(128,061)(126,885)

Net Cash Provided by Operating Activities

428,621553,938(288,382)(255,229)

Proceeds from sales of tangible fixed assets

10,910

7,598

Payments for purchase of intangible assets(2,587)(3,988)Proceeds from sales of investments insecurities

6,926

17,776

Payments of long-term loans receivable(479)(1,276)

Proceeds from collection of long-term loans
receivable

3,645

1,212

Other

(35,729)526

Net Cash Used in Investing Activities(305,696)(233,380)

Penalty income

Penalty received

Cash Flows from Investing Activities
Payments for purchase of tangible fixed
assets16

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(Yen in millions)
Previous Year
(Year ended December 31, 2014)

Current Year
(Year ended December 31, 2015)

Cash Flows from Financing Activities
Net increase(decrease) in short-termborrowings and commercial paper

6,894(61,097)

Proceeds from long-term borrowings

99,36724,556

Repayments of long-term borrowings(121,670)(97,400)

Proceeds from issuance of bonds

70,000―

Payments for redemption of bonds(63,807)

―

934

1,969

(1,152)(7,429)Cash dividends paid

(54,798)(93,928)

Cash dividends paid to minority interest(4,121)(5,646)419

172(67,935)(238,805)

10,594(35,339)

65,58546,413

324,596

390,181―(9,867)

Proceeds from minority interests for
additional shares
Payments of obligations under financeleasesOther
Net Cash Used in Financing Activities
Effect of Exchange Rate Changes on Cash andCash Equivalents
Net Increase(Decrease) in Cash and Cash
Equivalents
Cash and Cash Equivalents at Beginning of Year
Decrease in Cash and Cash Equivalents
Resulting from Exclusion of Subsidiaries from
Consolidation
Cash and Cash Equivalents at End of Year

(Note1)

17

390,181(Note1)

426,727

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015(5) Notes to the consolidated financial statements(Notes regarding going concern assumption)
Not applicable(Basic important matters for preparation of consolidated financial statements)
1. Scope of consolidation
1) Number of consolidated subsidiaries: 300 companies
Names of principal companies:
Refer to “2. BRIDGESTONE Group’s Major Subsidiaries and Business Relation Flowchart”
Changes in scope of consolidation:
Additions: 5 companies (Mainly, increased by establishment)
Deletions: 15 companies (Mainly, decreased by deconsolidation)2) Name of principal unconsolidated company
BRIDGESTONE FIRESTONE VENEZOLANA, C.A.
(Reason for deconsolidation)
Under US GAAP, the Companies have excluded Venezuelan subsidiary, Bridgestone Firestone
Venezolana, C.A. (“BFVZ”) and its subsidiary from its consolidated financial statements because
other-than-temporary lack of exchangeability between the Bolivar and the U.S. dollar is restricting thesubsidiary´s ability to purchase raw materials and pay dividends on a sustainable basis.
2. Scope of application of equity-method accounting
1) Number of equity-method affiliates: 145 companies
Name of principal company
BRISA BRIDGESTONE SABANCI LASTIK SANAYI VE TICARET A.S.
Changes in the scope of equity-method accounting
Additions: 2 companies (Increased by establishment)
2) Name of principal unconsolidated subsidiary to which the equity-method is not applied
BRIDGESTONE FIRESTONE VENEZOLANA, C.A.
(Reason for not applying the equity method)
Under US GAAP, the Companies have excluded Venezuelan subsidiary, Bridgestone Firestone
Venezolana, C.A. (“BFVZ”) and its subsidiary from its consolidated financial statements because
other-than-temporary lack of exchangeability between the Bolivar and the U.S. dollar is restricting thesubsidiary´s ability to purchase raw materials and pay dividends on a sustainable basis.
3. Summary of significant accounting policies
1) Valuation policies and methods for investments in securities
Available-for-sale-securities
With market value － Fair value based on the market price, etc., at the fiscal year end.
(Unrealized gain and loss are recorded in net assets, and the moving-averagemethod is used to calculate the cost of securities sold.)
Without market value － Primarily the moving-average cost method.
2) Valuation policies and methods for derivatives
In principle, fair value.
3) Valuation policies and methods for inventories
Inventories are principally stated at lower of cost determined by the moving-average method or net
selling value. Meanwhile, inventories held by subsidiaries in the Americas are substantially stated at thelower of cost, which is determined principally by the last-in, first-out method.
4) Depreciation method for fixed assets
For tangible fixed assets, the declining-balance method is used at BRIDGESTONE CORPORATION (the“Company”) and its domestic subsidiaries, and the straight-line method is used at overseas subsidiaries.
For intangible fixed assets, the straight-line method is used.

18

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 20155) Accounting policies for reserves and allowancesa) Allowance for doubtful accounts
In order to reserve for loss from the nonpayment of claims, the actual credit loss rate is used to
calculate the amount to be recorded for general claims, and for designated claims for which there is aconcern of nonpayment, an amount based on the evaluation of potential loss in the receivables
outstanding is recorded.
b) Provision for sales returns
Principally, in order to provide for future losses on the return of snow tires, historical losses are used toestimate the amount of future losses, and that amount is recorded.
c) Provision for recall
In order to reserve for outlays related to check and replacement of object tires, an estimated amount of
future obligations is recorded.
d) Warranty reserve
Warranty reserve, included in other liabilities, is estimated and recorded at the time of sale to provide
for future potential costs, such as costs related to after-sales services, in amounts considered to beappropriate based on the Companies’ past experience of the Companies and subsidiaries (collectively,
the “Companies”).
e) Provision for environmental remediation
In order to reserve for outlays for legally required removal and disposal of polychlorinated biphenyl(“PCB”) and other, the estimated amount of future obligations is recorded.
6) Accounting policies for retirement benefita) Method of attributing projected benefit to periods
To attribute projected benefit to periods of service up to the end of the current fiscal year, theCompanies, domestic subsidiaries, and certain overseas subsidiaries attribute the benefit under the
benefit formula basis. In addition, at certain overseas subsidiaries, an estimated total amount ofexpenses for postretirement benefits except for pensions is allotted based on the number of years ofservice provided by the employees.
b) Method of recognizing unrecognized actuarial gain/loss and past service cost
Past service cost is treated as an expense using the straight-line method over a fixed number of years
based on the average remaining years of service of the employees in the year in which the past service
costs occur (10 years for the Companies and domestic subsidiaries, 3 to 12 years for overseas
subsidiaries).
Actuarial gain/loss at the Companies and our domestic subsidiaries is treated as an expense using thestraight-line method over a fixed number of years (10 years) based on the average remaining years ofservice of the employees in the year in which the gain/loss occurs, recorded from the following fiscal
year.
For certain of our overseas subsidiaries, unrecognized actuarial gain/loss at the beginning of the fiscal
year that exceed 10% of the larger of retirement benefit obligations or pension plan assets is treated as
an expense using the straight-line method over a fixed number of years (8 to 12 years) based on the
average remaining years of service of the employees.

19Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 20157) Accounting policies for the conversion of foreign currency-denominated assets and liabilities into yen
Monetary receivables and payables denominated in foreign currencies are translated into Japanese yenat the exchange rate at the consolidated balance sheet date. The foreign currency exchange gain and loss
from translation are recognized in income.
Assets and liabilities of the Companies’ overseas subsidiaries are translated into Japanese yen at thecurrent exchange rate at the consolidated balance sheet date. Revenue and expense accounts of theCompanies’ overseas subsidiaries are translated into Japanese yen at the average annual exchange rate.
Differences arising from such translation are shown as foreign currency translation adjustments andminority interests in a separate component of net assets.
8) Hedge accountinga) Hedge accounting method
Deferred hedge accounting is applied. Designation accounting is used for forward foreign exchange
and foreign currency swaps that meet the requirements for designation accounting, and exceptional
accounting is used for interest rate swaps that meet the requirements for exceptional accounting.
b) Hedging instrument and items covered
Instruments
Forward foreign exchange contracts

Foreign currency swaps
Interest rate swaps
Commodity swaps

Items covered
Foreign currency-denominated monetaryclaims and obligations, and forecasted
foreign currency-denominated transactions
Borrowings and bonds
Borrowings
Raw materialsc) Hedging policy
Forward foreign exchange transactions are used only to cover actual foreign exchange needs, andforeign exchange swaps are made to match the principal amount and term of the hedged foreign
currency-denominated obligation. Interest rate swaps are entered into for the amount of borrowings only.
Commodity swaps are entered into for the trade amount of raw materials. It is the Company’s policy not
to use any derivative transactions for speculative purposes.
d) Method for evaluating the effectiveness of hedges
The validity of hedges is evaluated based on a comparison of total fluctuations in the cash flow or
fluctuations in the market value of the hedged item with the total fluctuations in the cash flow or
fluctuations in the market value of the hedging instrument. However, for items covered by designation or
exceptional accounting, the validity of the hedge is not evaluated.
9) Amortization of goodwill
Goodwill is amortized using the straight-line method over the period for which it is deemed to have effect,
but not to exceed 20 years.
10) Definition of cash and cash equivalents for Consolidated Statement of Cash Flow
Cash and cash equivalents included in the consolidated statement of cash flows consists of cash on hand,deposits that can be withdrawn at any time or are easily convertible, and short-term investments maturing
within three months from the date of acquisition and for which the risk from price movements is deemed
negligible.
11) Other significant items related to the preparation of consolidated financial statements
Accounting treatment of consumption tax
Consumption tax and local consumption taxes are excluded.

20

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(Changes in accounting policies, etc.)(Application of Accounting Standard and Guidance for Retirement Benefits))
For the “Accounting Standard for Retirement Benefits” (ASBJ Statement No. 26, May 17 of 2012 , hereinafterreferred to as the “Retirement Benefits Accounting Standard”) and the “Guidance on Accounting Standard for
Retirement Benefits” (ASBJ Guidance No. 25, March 26, 2015, hereinafter “Retirement Benefits Guidance”), theCompanies have additionally applied the provisions set forth in the main clauses of Paragraph 35 of the
Retirement Benefits Accounting Standard and Paragraph 67 of the Retirement Benefits Guidance from thecurrent fiscal year. With this application, calculation methods for retirement benefit obligations and service costs
were revised as follows: The method for attributing projected benefits to periods changed from the straight-line
basis to the benefit formula basis. In addition, determination of the discount rate changed from a method basedon the number of years approximating the average remaining years of service of the employees to a method
using a single weighted average discount rate reflecting the estimated period and amount of benefit payment.
In accordance with the transitional treatment prescribed in Section 37 of the Retirement Benefits AccountingStandard, the effect of the accounting change in retirement benefit obligations and service costs was adjusted inretained earnings at the beginning of the current fiscal year.
As a result, net defined benefit asset decreased by ¥14,472 million, net defined benefit liability increased by¥14,223 million and retained earnings decreased by ¥18,729 million at the beginning of the current fiscal year.
The effect of this change on operating income, ordinary income, and income before income taxes and minority
interests for the current fiscal 2015 year was immaterial
The impact of this change on net assets per share in current fiscal year was ¥23.91. The effect of this change
on net income per share and diluted net income per share in current fiscal year were immaterial.

21

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(Changes in presentation)
1. Consolidated Statement of Income
In the Consolidated Statement of Income, “Share of profit of entities accounted for using equity method” in“non-operating income” was presented separately in the previous fiscal year. Due to a decline in financial
materiality, “Share of profit of entities accounted for using equity method” is now presented in “Other.” To reflect
this change in method of presentation, the consolidated financial statements for the previous fiscal year havebeen reclassified.
As a result, the ¥ 4,099 million that had been previously presented as “Share of profit of entities accounted forusing equity method” in the Consolidated Statement of Income for the previous fiscal year is now included in“Other.”
2. Consolidated Statement of Cash Flows
1) “Increase(decrease) in allowance for doubtful accounts” and “Share of (profit) loss of entities accounted forusing equity method”
In the Cash Flows from Operating Activities section, “Increase (decrease) in allowance for doubtful accounts”
was included in “Other” in the previous fiscal year. Due to an increase in financial materiality, “Increase(decrease) in allowance for doubtful accounts” is now presented separately. “Share of (profit) loss of entities
accounted for using equity method” was presented separately in the previous fiscal year. Due to a decline infinancial materiality, “Share of (profit) loss of entities accounted for using equity method” is now presented in“Other.” To reflect these changes in method of presentation, the consolidated financial statements for theprevious fiscal year have been reclassified.
As a result, in the Cash Flows from Operating Activities section, the ¥ (1,489) million that had been previously
presented as “Share of (profit) loss of entities accounted for using equity method” and the ¥ (18,472) million that
had been previously presented as “Other” in the Consolidated Statement of Cash Flows for the previous fiscal
year have now been restated as “Increase (decrease) in allowance for doubtful accounts” of ¥205 million and“Other” of ¥ (20,167) million.
2) “Payments of long-term loans receivable”
In the Cash Flows from Investing Activities section, “Payments of long-term loans receivable” was included
in “Other” in the previous fiscal year. Due to an increase in financial materiality, “Payments of long-term loans
receivable” is now presented separately. To reflect this change in method of presentation, the consolidated
financial statements for the previous fiscal year have been reclassified.
As a result, in the Cash Flows from Investing Activities section, the ¥(36,208) million that had been previously
presented as “Other” in the Consolidated Statement of Cash Flows for the previous fiscal year have now been
restated as “Payments of long-term loans receivable” of ¥(479) million and “Other” of ¥(35,729) million.
3) “Proceeds from minority interests for additional shares”
In the Cash Flows from Financing Activities section, “Proceeds from minority interests for additional shares”
was included in “Other” in the previous fiscal year. Due to an increase in financial materiality, “Proceeds fromminority interests for additional shares” is now presented separately. To reflect these changes in method ofpresentation, the consolidated financial statements for the previous fiscal year have been reclassified.
As a result, in the Cash Flows from Financing Activities section, the ¥1,353 million that had been previously
presented as “Other” in the Consolidated Statement of Cash Flows for the previous fiscal year have now been
restated as “Proceeds from minority interests for additional shares” of ¥934 million and “Other” of ¥419 million.
(Additional Information)
Bridgestone Retail Operations, LLC (BSRO), a wholly owned subsidiary of Bridgestone, and The Pep Boys –Manny, Moe & Jack (Pep Boys), one of the nation’s leading automotive aftermarket chains in U.S, had entered into a
definitive merger agreement under which BSRO would acquire Pep Boys. However, BSRO determined not to present
a counter offer to acquire Pep Boys in response to the proposal from Icahn Enterprises L.P. of $18.50 per share. With
the cancelation of this merger agreement, BSRO records the penalty income from Pep Boys of ¥4,783million incurrent fiscal year.

22

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(Notes to the consolidated financial statements)(Consolidated Balance Sheet)
Note 1 Accumulated depreciation of tangible fixed asset
Previous Year(As of December 31, 2014)¥2,480,928 million

Current Year(As of December 31, 2015)¥2,520,716 million

Note 2 Assets pledged as collateralPrevious Year(As of December 31, 2014)¥8,148 million

Current Year(As of December 31, 2015)¥1,078 million

Obligations corresponding to the preceding
Previous Year(As of December 31, 2014)
Short-term borrowings
Long-term borrowings¥1,376 million¥6,340Note 3 Assets or liabilities related to non-consolidated subsidiaries and affiliates
Previous Year(As of December 31, 2014)
Investments in securities¥18,795 million

Current Year(As of December 31, 2015)¥208 million¥82

Current Year(As of December 31, 2015)¥17,105 million

Note 4 Guarantees
Previous Year(As of December 31, 2014)
Guarantees on employees’ bank borrowings¥2 million

Current Year(As of December 31, 2015)¥1 million

Note 5 Balance of trade notes discounted
Previous Year(As of December 31, 2014)¥1,862 million

23

Current Year(As of December 31, 2015)¥565 million

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(Consolidated Statement of Income)Note 1

Research and development expenses
Previous Year
(Year ended December 31, 2014)

Current Year
(Year ended December 31, 2015)¥94,147 million¥94,977 million

General and administrative expenses

Note 2Gain on sales of tangible assets

Previous Year (Year ended December 31, 2014)
Gain on sales of tangible assets mainly consists of gain on sales of land.
Current Year (Year ended December 31, 2015)
Gain on sales of tangible assets mainly consists of gain on sales of land.

Note 3

Loss on deconsolidation of subsidiaries

Current Year (Year ended December 31, 2015)
Under US GAAP, the Companies have excluded Venezuelan subsidiary, Bridgestone Firestone
Venezolana, C.A. (“BFVZ”) and its subsidiary from its consolidated financial statements because
other-than-temporary lack of exchangeability between the Bolivar and the U.S. dollar is restricting thesubsidiary´s ability to purchase raw materials and pay dividends on a sustainable basis.

24

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(Consolidated Statement of Changes in Net Assets)
Previous Year（Year ended 31 December 2014)
1. Type and total number of shares issued / Type and number of treasury stock
As of
December 31,
Increase
Decrease
2013

As of
December 31,
2014

Number of shares issued
Common stock(Thousands of shares)

813,102――

813,102

Treasury stock
Common stock(Thousands of shares)(see note 1 & 2)

30,115

3

153

29,965

Notes 1: The increase of treasury stock consists of the purchase of 3 thousand shares according to the requests from theshareholders who have odd-lot shares.
2: The decrease of treasury stock consists of 153 thousand shares used for the exercise of stock options and other.

2. Stock acquisition rights

DetailsStockacquisitionrights as
stock options

Filingcompany

Total

Type of shares
to be used asstockacquisitionrightsNumber of shares to be used for Stock acquisition rights

Outstanding
amount as of
fiscal year end(yen in millions)

As ofDecember31, 2013

Increase

Decrease

As ofDecember 31,
2014

―

―

―

―

―

1,945

―

―

―

―

―

1,945

3. Dividends(1) Dividend payments
Resolution

Type

Annual Shareholders’Meeting, March 25,
2014

Common StockBoard of Directors,
August 8, 2014

Common Stock

Total dividends(yen in millions)

Dividend per
share

Record date

Effective date

23,489¥30

December 31,
2013

March 26,
2014

31,325¥40

June 30,2014

September 1,
2014(2) Dividends whose record date is in the current year and effective date is in the following fiscal year
Total
Dividend per
Resolution
Type
dividends
SourceRecord dateshare

Effective date( yen in millions )Annual Shareholders’Meeting, March 24,
2015

CommonStock46,988Retainedearnings

25¥60

December 31,
2014

March 25,2015

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

Current Year（Year ended 31 December 2015)
1. Type and total number of shares issued / Type and number of treasury stock
As of
December 31,
Increase
Decrease
2014

As of
December 31,
2015

Number of shares issued
Common stock(Thousands of shares)

813,102――

813,102

Treasury stock
Common stock(Thousands of shares)(see notes 1 & 2 )29,9652

89

29,878Notes 1: The increase of treasury stock consists of the purchase of 2 thousand shares according to the requests from theshareholders who have odd-lot shares and other.
2: The decrease of treasury stock consists of 89 thousand shares used for the exercise of stock options and other.

2. Stock acquisition rights

DetailsStockacquisitionrights as
stock options

Filingcompany

Total

Type of shares
to be used asstockacquisitionrightsNumber of shares to be used for Stock acquisition rights

Outstanding
amount as of
fiscal year end(yen in millions)

As ofDecember31, 2014

Increase

Decrease

As ofDecember31, 2015

―

―

―

―

―

2,469

―

―

―

―

―

2,469

Dividend per
share

Record date

Effective date

3. Dividends(1) Dividend payments
Total dividends(yen in millions)

Resolution

Type

Annual Shareholders’Meeting, March 24,
2015

Common Stock46,988¥60

December 31,
2014

March 25,
2015

Board of Directors,
August 7, 2015

Common Stock46,993¥60

June 30,2015

September 1,
2015(2) Dividends whose record date is in the current year and effective date is in the following fiscal year
Total
Dividend per
Resolution
Type
dividends
SourceRecord dateshare

Effective date( yen in millions )Annual Shareholders’Meeting, March 24,
2016

CommonStock54,825Retainedearnings

26¥70

December 31,
2015

March 25,2016

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(Consolidated Statement of Cash Flows)
Note 1

Reconciliation between cash and cash equivalents at the fiscal year end and the amount shown in theConsolidated Balance Sheet(Yen in millions)

Cash and deposits
Short-term investments

Previous Year
(Year ended December 31, 2014)

Current Year
(Year ended December 31, 2015)(As of December 31, 2014)
390,444
149,239(As of December 31, 2015)
387,652
217,348539,683

605,000(149,502)(178,273)

390,181426,727

Total
Time deposits, bonds, etc. withterms of more than three months
Cash and cash equivalents

27

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(Segment Information)
1. Overview of reporting segments
The Companies’ reporting segments are components of the Companies whose separate financial information is
obtainable, and the Board of Directors and the Management Committee regularly consider these segments inorder to decide the allocation of business resources and evaluate business performance.
The Companies’ reporting segments consist mainly of Tire business including the production and sale of tires
and tubes, sale of wheels and accessories, the production and sale of retread material and services, auto
maintenance, and Diversified products business including Chemical and Industrial Products, BSAM Diversified
Products (Note), sporting goods, bicycles, etc. Thus, the Companies have two reporting segments: Tires andDiversified products.
(Note)BSAM Diversified Products: A business under BRIDGESTONE AMERICAS, INC. supplying commercial roofing materials etc.

2. Methods of calculating amounts for Sales and Income (Loss), assets and other items by reporting segment
The accounting treatment methods for each reported business segment are broadly similar to those outlined in“Basic important matters for preparation of consolidated financial statements”. Reporting segment income figures
are on an operating income basis. Internal sales and transfers between segments are mainly based on prices forthird-party transactions.
3. Information regarding Sales and Income (Loss), assets and other items by reporting segment
Consolidated Results for Fiscal 2014(January 1, 2014 - December 31, 2014)
Diversified
Products

Tires(Yen in millions)

Adjustments(notes)

Total

Consolidated

Net sales:
External customers―

3,088,626

585,337

3,673,964

Inter-segment

4,748

16,52821,277(21,277)―

Total

3,093,375

601,866

3,695,241(21,277)

3,673,964

435,837

42,187

478,024

14

478,038

3,517,403

445,601

3,963,005(2,096)

3,960,908

170,871

17,460188,332―

188,332

Amortization of goodwill

648

597

1,245

―

1,245

Investment for
equity-method affiliates

18,598198

18,797(2)

18,795

Increase in tangible andintangible fixed assets

268,375

44,724313,100―

313,100

Segment income(Operating income)Segment assets

3,673,964

Other
Depreciation andamortization

Notes: The adjustments are as follows.
(Note1) Adjustments of segment income refer to elimination of inter-segment transactions.
(Note2) Adjustments of segment assets refer to elimination of inter-segment receivables and payables.

28

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

Consolidated Results for Fiscal 2015(January 1, 2015 - December 31, 2015)
Diversified
Products

Tires(Yen in millions)
Adjustments(notes)

Total

Consolidated

Net sales:
External customers―

3,168,218

622,032

3,790,251Inter-segment

6,226

13,017

19,243(19,243)－

Total

3,174,445,036

635,049

3,809,494(19,243)3,790,251472,762

44,518517,281(33)

517,248

3,345,495

452,275

3,797,770(1,923)

3,795,846

181,782

20,551

202,333―

202,333

Amortization of goodwill

1,203

943

2,146

―

2,146

Investment for
equity-method affiliates

16,884223

17,108(2)

17,105

Increase in tangible andintangible fixed assets

229,885

23,694

253,580―

253,580

Segment income(Operating income)Segment assets

3,790,251

Other
Depreciation andamortization

Notes: The adjustments are as follows.
(Note1) Adjustments of segment income refer to elimination of inter-segment transactions.
(Note2) Adjustments of segment assets refer to elimination of inter-segment receivables and payables.

29

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(Per share information)(Yen)
Previous Year
(Year ended December 31, 2014)

Current Year
(Year ended December 31, 2015)

Total equity per share

2,650.47

2,820.48

Net income per share

383.84362.99Diluted net income per share

383.39362.52

Items

Note:

Total equity per share and diluted net income per share are calculated based on the following:

Previous Year
(Year ended December 31, 2014)
Net income per share

Current Year
(Year ended December 31, 2015)(Yen in millions)(Yen in millions)

300,589284,294――

300,589284,294

Average number of shares heldby common shareholders
during term
Diluted net income per share(Thousands of shares)
783,111(Thousands of shares)
783,204(Thousands of shares)(Thousands of shares)

Net income adjustments
Increase of common stock(stock option portion include in
the above)

―
927
(927)

―
1,022
(1,022)Net Income
Amount not belonging tocommon shareholders
Net income corresponding tocommon shareholders

Summary of residual shares with ―――――――――――――――――
no dilution effect and therefore
not included in calculation ofdiluted net income per share30―――――――――――――――――

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

(Significant subsequent events)

Not applicable

31

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

6. Other(1) Senior Management Changes
Bridgestone Corporation announced that its board of directors has approved the following proposals for senior
management changes on January 29th, 2016
* Bridgestone Corporation will adopt the “Company with Nominating Committee, etc.”** model of corporate
governance, a shift from the current “Company with Board of Company Auditors”** structure, a model ofwhich has been in place since 1993, as of the news release “Bridgestone to adopt the new corporate
governance structure” announced on October 14th, 2015.
The new governance structure will become effective upon approval of amendments to the Company’s
Articles of Incorporation reflecting this change at the next Annual Shareholders’ Meeting to be held on
March 24th 2016.
1) New Members of the Board of Directors

Current occupation in parentheses(To be appointed after approval at the Company’s Annual Shareholders' Meeting on March 24, 2016)
Member of the Board

Mikio Masunaga[ Corporate Auditor (full-time) ]Member of the Board

Kenichi Togami[ Vice President and Officer
Assistant to Executive Vice President,
Responsible for Corporate Planning ]Member of the Board

Kenichi Masuda[ Corporate Auditor (Non-full-time) ]Member of the Board

Kenzo Yamamoto[ Chairman, NTT Data Institute ofManagement Consulting, Inc. ]Member of the Board

Keikou Terui[ Senior Research Associate, Chemicals
Evaluation and Research Institute ]Member of the Board

Seiichi Sasa

[ Certified Public Accountant(Sasa
Seiichi Certified Public Accountant
Office) ]* Mr. Kenichi Masuda, Mr. Kenzo Yamamoto, Mr. Keikou Terui and Mr. Seiichi Sasa are candidates foroutside directors as set forth in Article 2-15 of the Companies Act.

2) Retiring Members of the Board of Directors

Plan after retirement in parentheses(Effective March 24, 2016)
Member of the Board

Keiko Unotoro
32[ External Advisor ]Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

Senior Vice President

Narumi Zaitsu[ Executive Vice President andMember of the Board

Executive Officer

Assistant to COO

Seconded to Bridgestone
Americas, Inc.
Deputy Chairman of Bridgestone
Americas, Inc. ]* Ms. Keiko Unotoro is an outside director as set forth in Article 2-15 of the Companies Act.

3) Reappointed Members of the Board of Directors

Current occupation in parentheses(To be appointed after approval at the Company’s Annual Shareholders' Meeting on March 24, 2016)
Member of the Board

Masaaki Tsuya[ CEO and Representative Board

Concurrently Chairman of the Board

MemberConcurrently CEO and Representative

Concurrently Chairman of the Board;

Executive Officer;

Concurrently Chairman, BIOC ]Concurrently Chairman, BIOC
Member of the Board

Kazuhisa Nishigai[ COO and Representative Board

Concurrently COO and Representative

MemberExecutive Officer

Concurrently Chief Technology Officer

Concurrently Chief Technology Officer

Responsible for Technology;

Responsible for Technology;

Concurrently Vice Chairman, BIOC ]Concurrently Vice Chairman, BIOC
Member of the Board

Sakie Tachibana[ Member of the Board ]Fukushima
Member of the Board

Scott Trevor Davis[ Member of the Board ]Member of the Board

Yuri Okina[ Member of the Board ]* Ms. Sakie Tachibana Fukushima, Mr. Scott Trevor Davis and Ms. Yuri Okina are candidates for outside
directors as set forth in Article 2-15 of the Companies Act.

4) Retiring Corporate Auditors

Plan after retirement in parentheses(Effective March 24, 2016)
Corporate Auditor (full-time)

Mikio Masunaga[ Member of the Board ]Corporate Auditor (full-time)Masahito Tsuji[ Vice President and Officer
Auditing ]33

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

Corporate Auditor (Non-full-time)

Kenichi Masuda[ Member of the Board ]Corporate Auditor (Non-full-time)

Tomoko Watanabe[ External Advisor ]* Mr. Kenichi Masuda and Ms. Tomoko Watanabe are outside corporate auditors as set forth in Article
2-16 of the Companies Act.

5) Members of the Nominating Committee

Current occupation in parentheses(To be appointed after approval at the Board Meeting following Company’s Annual Shareholders' Meetingon March 24, 2016)
Member of the Board

Sakie Tachibana[ Member of the Board ]Fukushima
Member of the Board

Scott Trevor Davis[ Member of the Board ]Member of the Board

Yuri Okina[ Member of the Board ]Member of the Board

Keikou Terui[ Senior Research Associate, Chemicals
Evaluation and Research Institute ]* Ms. Sakie Tachibana Fukushima, Mr. Scott Trevor Davis, Ms. Yuri Okina and Mr. Keikou Terui are
candidates for outside directors as set forth in Article 2-15 of the Companies Act.

6) Members of the Audit Committee

Current occupation in parentheses(To be appointed after approval at the Board Meeting following Company’s Annual Shareholders' Meetingon March 24, 2016)
Member of the Board

Kenichi Masuda[ Corporate Auditor (Non-full-time) ]Member of the Board

Kenzo Yamamoto[ Chairman, NTT Data Institute ofManagement Consulting, Inc. ]Member of the Board

Seiichi Sasa

[ Certified Public Accountant(Sasa
Seiichi Certified Public Accountant
Office) ]Member of the Board

Mikio Masunaga

34[ Corporate Auditor (full-time) ]Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

Member of the Board

Kenichi Togami[ Vice President and Officer
Assistant to Executive Vice President,
Responsible for Corporate Planning ]* Mr. Kenichi Masuda, Mr. Kenzo Yamamoto and Mr. Seiichi Sasa are candidates for outside directors as
set forth in Article 2-15 of the Companies Act.

7) Members of the Compensation Committee

Current occupation in parentheses(To be appointed after approval at the Board Meeting following Company’s Annual Shareholders' Meetingon March 24, 2016)
Member of the Board

Sakie Tachibana[ Member of the Board ]Fukushima
Member of the Board

Scott Trevor Davis[ Member of the Board ]Member of the Board

Yuri Okina[ Member of the Board ]Member of the Board

Keikou Terui[ Senior Research Associate, Chemicals
Evaluation and Research Institute ]* Ms. Sakie Tachibana Fukushima, Mr. Scott Trevor Davis, Ms. Yuri Okina and Mr. Keikou Terui are
candidates for outside directors as set forth in Article 2-15 of the Companies Act.

8) New Members of Executive Officers

Current occupation in parentheses(To be appointed after approval at the Board Meeting following Company’s Annual Shareholders' Meetingon March 24, 2016)
Member of the Board

Masaaki Tsuya[ CEO and Representative Board

Concurrently Chairman of the Board

MemberConcurrently CEO and Representative

Concurrently Chairman of the Board;

Executive Officer;

Concurrently Chairman, BIOC ]Concurrently Chairman, BIOC
Member of the Board

Kazuhisa Nishigai[ COO and Representative Board

Concurrently COO and Representative

MemberExecutive Officer

Concurrently Chief Technology Officer

Concurrently Chief Technology Officer

Responsible for Technology;

Responsible for Technology;

Concurrently Vice Chairman, BIOC ]Concurrently Vice Chairman, BIOC
35

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

Executive Vice President andShuichi Ishibashi[ Executive Vice President

Executive Officer

Group Global Chief Quality

Group Global Chief Quality

Management Officer

Management Officer

Responsible for Quality Management

Responsible for Quality Management

and CSR;

and CSR;

Concurrently responsible for Global

Concurrently responsible for Global

Original Equipment Tire Sales andOriginal Equipment and Global

Group Global Chief Marketing Officer,

Business Strategy;

Marketing Strategy Global Original

Concurrently responsible for Global

Equipment Strategy;

Solution Business

Concurrently Assistant to Vice

Concurrently Chairman and CEO,President and Officer,

Global Mining and Agricultural Solution

Diversified Products, Sports and Cycle

in-house Company

Business;
Concurrently Assistant to Vice
President and Senior Officer,
Responsible for Diversified Products
Business
Diversified Products New Business
Models Development;
Concurrently Chairman and CEO,Global Mining and Agricultural Solution
in-house Company ]Executive Vice President andAkihiro Eto[ Executive Vice President

Executive Officer

Responsible for Corporate Planning;

Responsible for Corporate Planning;

Concurrently responsible for

Concurrently responsible for Corporate

Corporate Administration and SCM

Administration and SCM;

Chief Financial Officer

Concurrently responsible forFinance;

Diversified Products

Concurrently Assistant to Vice

Chief Financial Officer

President and Officer,

Finance

Diversified Products, Sports and Cycle
Business ]Executive Vice President andAsahiko Nishiyama[ Executive Vice President

Executive Officer

Vice Chairman, BIOC

Vice Chairman, BIOC

Diversified Products, Sports and Cycle

Diversified Products, Sports and Cycle

Business;

Business;

Concurrently Chairman of Bridgestone

Concurrently Chairman of BridgestoneSports Co., Ltd.;Sports Co., Ltd.;

Concurrently Chairman of Bridgestone

Concurrently Chairman of Bridgestone

Cycle Co., Ltd. ]Cycle Co., Ltd.
36

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

Executive Vice President andGary Garfield[ Executive Vice President of

Executive Officer of Bridgestone

Bridgestone Corporation

Corporation

CEO and President, concurrently

CEO and President, concurrently

Executive Chairman of Bridgestone

Executive Chairman of Bridgestone

Americas, Inc. ]Americas, Inc.
Executive Vice President and

Eduardo Minardi[ Executive Vice President of

Executive Officer of Bridgestone

Bridgestone Corporation

Corporation

Executive Chairman, concurrently

Executive Chairman, concurrently

CEO and President of Bridgestone

CEO and President of Bridgestone

Europe NV/SA ]Europe NV/SA
Executive Vice President andNarumi Zaitsu[ Senior Vice President

Executive Officer

Member of the Board

Seconded to Bridgestone

Assistant to COO ]Americas, Inc.
Deputy Chairman of Bridgestone
Americas, Inc.
Senior Vice President and Executive

Minoru Shimizu[ Senior Vice President

Officer

Responsible for Japan Tire Business;

Responsible for Japan Tire Business;

Concurrently responsible for

Concurrently responsible for

Replacement Tire Sales;

Replacement Tire Sales;

Concurrently Chairman of Bridgestone

Concurrently Chairman of Bridgestone

Tire Japan Co., Ltd. ]Tire Japan Co., Ltd.
Senior Vice President and Executive

Franco Annunziato[ Senior Vice President of Bridgestone

Officer of Bridgestone Corporation

Corporation

Executive Chairman and CEO of

Executive Chairman and CEO of

Bridgestone Asia Pacific Pte. Ltd.

Bridgestone Asia Pacific Pte. Ltd. ]37

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 20159) Promotion of Corporate Officers

Current occupation in parentheses(Effective March 24, 2016)
Vice President and Senior Officer

Takashi Tomomoto[ Vice President and Officer

Global Chief Marketing Officer

Commercial Products Global

Responsible for Global Marketing

Marketing Strategy and Advanced

Strategy

Business Planning;

Global Marketing Strategy

Concurrently Director, Commercial
Products Global Marketing Strategy
Division, Advanced Business Planning
Division ]Vice President and Senior Officer

Ryutaro Ishii[ Vice President and Officer

Responsible for Production

Seconded to Bridgestone Europe

Technology

NV/SA ]

10) Retiring Corporate Officers

Plan after retirement in parentheses(Effective March 24, 2016)
Senior Vice President

Yoshiyuki Morimoto[ Advisor ]Masato Hiruma[ Advisor ]Shinichi Yochi[ Chairman of Bridgestone Software

Assistant to Chief Technology
Officer,
Responsible for Technology
Vice President and Senior Officer
Assistant to Chief Technology
Officer,
Responsible for Technology
Vice President and Senior Officer
Responsible for Human Resources,

Co., Ltd. ]Legal Affairs and Intellectual
Property
Corporate Management
Internal Auditing
Chief Risk Officer,
Chief Human Rights Officer
Human Resources and General
Affairs

38

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2015

Vice President and Senior Officer

Masakazu Sekiguchi

Responsible for Production[ President of Bridgestone Cycle Co.,
Ltd. ]

Technology
Vice President and Officer

Toyohiko Oka[ Fellow

Assistant to Vice President andAssistant to Vice President andOfficer,

Officer,

Chief Risk Officer,

Chief Risk Officer,

Chief Human Rights Officer

Chief Human Rights Officer

Human Resources and General

Human Resources and General

Affairs

Affairs ]Vice President and Officer

Shigeru Niho

[ Fellow

Global Production Administration

Assistant to Vice President andand Logistics, Mold Technology and

Officer,

Manufacturing

Global Mining and Agricultural

Procurement

Solution ]Vice President and Officer

Takeo Kumakura[ Advisor ]Fumihiro Yanaga[ Advisor ]Seconded to Bridgestone
Diversified Products (China) Co.,
Ltd.
Chairman of Bridgestone Diversified
Products (China) Co., Ltd.
Vice President and Officer
Assistant to Vice President andSenior Officer,
Responsible for Production
Technology

39