Consolidated Financial Statements
for the First Three Quarters of the Fiscal Year Ending December 31, 2015
November 9, 2015
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 quarterly securities report submission:
November 11, 2015
Scheduled date of dividend payment commencement:
Supplementary information for the quarterly financial statements to be prepared:
Yes
Meeting to explain for the quarterly financial statements to be held:Yes(for institutional investors and analysts)(All amounts are rounded down to the nearest million yen)

1. Consolidated Results for the First Three Quarters of Fiscal 2015 (January 1, 2015 - September 30, 2015)(Percentage figures represent changes from the same period of previous year)(1) Consolidated Operating Results
Net sales

Operating income

Yen in millions

Nine months ended
September 30, 2015
2,817,330
Nine months ended
September 30, 2014
2,665,106(Note) Comprehensive Income:Net income

Yen in millions%

Yen in millions%

Yen in millions%

5.7

378,64610.6

365,689

7.9

195,120(13.5)

2.3

Net income
per share
Nine months ended
September 30, 2015
Nine months ended
September 30, 2014

Ordinary income%

342,468
7.4
339,048
Nine months ended September 30, 2015
Nine months ended September 30, 2014

9.3
225,670
15.2¥127,020 million [(42.5%)]¥220,909 million [(36.3%)]

Diluted net income
per share
Yen

Yen

249.13248.81

288.17287.83(2) Consolidated Financial Position
Total assets

Ratio of total equity tototal assets

Net assets

Yen in millions

Yen in millions%

As of September 30, 2015

3,709,752

2,158,141

56.3

As of December 31, 2014
(Reference) Total equity

3,960,908

2,146,657
As of September 30, 2015
As of December 31, 2014

52.4
¥2,089,221 million¥2,075,685 million

2. Dividends
2nd quarter
end

Annual Dividend
3rd quarter
end

Yen

Yen

Yen

Yen

Yen

－
－

40.00
60.00

－

60.00

100.00－60.00

120.00

1st quarterend
FY 2014
FY 2015

FY 2015(Projection)(Note) Changes from the latest forecasts released: No

Year -endTotal

3. Consolidated Projected Results for Fiscal 2015 (January 1, 2015 - December 31, 2015)
Net sales
Yen in millions

Operating income%(Percentage figures represent changes from the previous year)
Net income
Ordinary income
Net income
per share

Yen in millions%

Yen in millions%

Yen in millions%

Yen

FY 20153,900,000
6.2
524,000(Note) Changes from the latest forecasts released: Yes

9.6

506,000

9.2

285,000(5.2)

363.89

* Notes(1) Changes in principal subsidiaries during the nine months ended September 30, 2015 : No
(Changes in specified subsidiaries involving change in consolidation scope)(2) Application of special accounting treatments for consolidated quarterly financial statements: Yes(3) 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(4) Outstanding number of shares (common stock)
1) Outstanding number of shares at period end (including treasury stock):
September 30, 2015
813,102,321 shares
December 31, 2014
813,102,321 shares
2) Number of shares of treasury stock at period end
September 30, 2015
December 31, 2014

29,883,587 shares
29,965,086 shares

3) Average outstanding number of shares (during the first three quarters)
First Three Quarters ended September 30, 2015
783,198,855 sharesFirst Three Quarters ended September 30, 2014
783,103,443 shares* Implementation status about the quarterly review
Although these financial statements are exempt from quarterly review procedures as required by the Financial
Instruments and Exchange Act, a part of quarterly review based on Financial Instruments and Exchange Act
were completed at the time of the disclosure of these financial statements.
* Statement regarding appropriate use of forward-looking statements and other notes
Projections of consolidated results for fiscal 2015 announced on August 7, 2015 are revised in this document.
The preceding descriptions of projections and plans are “forward-looking statements,” which involve known
and unknown risks and uncertainties. These variables could cause the Bridgestone Group’s actual
performance and financial results to differ substantially from management’s projections and plans, and thestatements are not guarantees of future business performance. For details, refer to “1. Qualitative Information
for the First Three Quarters of Fiscal 2015”, (3) Explanation of Projections of Consolidated Results”, on page 5.

Bridgestone Corporation (5108)

First three quarters results of fiscal 2015

[ Index ]1. Qualitative Information for the First Three Quarters of Fiscal 2015

…P2

(1) Explanation of Consolidated Operating Results…P2(2) Explanation of Consolidated Financial Position…P4(3) Explanation of Projections of Consolidated Results

…P5
…P6

2. Other Information (Notes)(1) Application of special accounting treatments for consolidated quarterly financial statements…P6(2) Changes in accounting policy, changes in accounting estimates, and restatements

…P6
…P7

3. Consolidated Quarterly Financial Statements(1) Consolidated Balance Sheet…P7(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income…P9

Consolidated Statement of Income…P9

Consolidated Statement of Comprehensive Income…P10(3) Notes to the Consolidated Financial Statements…P11(Notes regarding going concern assumption)…P11(Notes regarding significant changes in the amount of shareholders’ equity)…P11(Segment Information)

…P11

1

Bridgestone Corporation (5108)

First three quarters results of fiscal 2015

1. Qualitative Information for the First Three Quarters of Fiscal 2015
The Bridgestone Corporation is referred to as the “Company,” and the Company and its subsidiaries are referred
to as the “Companies.”(1) Explanation of Consolidated Operating Results
1) Sales and earnings
FY 2015 3Q

FY 2014 3Q(Nine months ended(Nine months ended

September 30, 2015)

September 30, 2014)

Yen in billions

Yen in billions

Yen in billions%

2,817.3

2,665.1

152.2

6

Operating income

378.6

342.4

36.1

11

Ordinary income

365.6

339.0

26.6

8

Net income

195.1

225.6

(30.5)(14)

Net sales

Increase(Decrease)

In the first three quarters of fiscal 2015 (January 1 to September 30, 2015), the operating environment
surrounding Companies was as follows: 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 continues 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 were recovering weakly while the political and economic situation remained
unstable.
Under these operating conditions, the Companies continued their work to realize the ultimate goal of becoming“a truly 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 increase the sales of highly competitive products andservices, and building and enhancing business models to extend beyond the mere sales of products. Moreover,
the Companies 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 the first three quarters of fiscal 2015 were ¥2,817.3 billion, an increase of 6% from thefirst three quarters of fiscal 2014; operating income was ¥378.6 billion, an increase of 11%; ordinary income was¥365.6 billion, an increase of 8%; and net income was ¥195.1 billion, a decrease of 14%.
In addition, the Companies have recorded an extraordinary loss of ¥42.3billion from the deconsolidation of
Venezuelan subsidiary, Bridgestone Firestone Venezolana, C.A. and its subsidiary.

2

Bridgestone Corporation (5108)

First three quarters results of fiscal 2015

2) Segment Information
FY 2015

3Q

FY 2014

3Q
Increase(Nine months ended(Nine months ended

September 30, 2015)

September 30, 2014)(Decrease)

Yen in billions

Yen in billions

Yen in billions%

2,358.4

2,234.7

123.7

6

Operating income

345.9

310.5

35.3

11

Diversified
Products

Net Sales

474.3

442.3

31.9

7

Operating income

32.7

31.9

0.8

3

Consolidated
Results

Net Sales

2,817.3

2,665.1

152.2

6

378.6

342.4

36.1

11

Net Sales
Tires

Operating income

In the tire 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 last-minute demand associated with the consumption tax rate increase in the previous year,
the unit sales of passenger car and light truck tires decreased compared to the first three quarters of fiscal
2014.The unit sales of truck and bus tires remained unchanged from the first three quarters of fiscal 2014 due toan increase in the sales of original equipment tires. In the Americas, the unit sales of passenger car and lighttruck tires in North America increased firmly and the unit sales of tires for trucks and buses increased strongly
compared to the first three quarters of 2014. In Europe, the unit sales of passenger car and light truck tires
increased strongly compared to the first three quarters of fiscal 2014, as well as tires for trucks and buses. In Asia
Pacific, the unit sales of passenger car and light truck tires remained unchanged from the first three quarters offiscal 2014 and the unit sales of truck and bus tires increased substantially compared to the first three quarters offiscal 2014. In China, the unit sales of passenger car and light truck tires increased substantially and the unit
sales of truck and bus tires decreased compared to the first three quarters of fiscal 2014. In the specialty tirebusiness, the sales volume of off-the-road radial tires for construction and mining vehicles remained unchanged
from the first three quarters of fiscal 2014.
As a result, net sales in the tires segment during the first three quarters of fiscal 2015 were ¥2,358.4 billion, an
increase of 6% from the first three quarters of fiscal 2014; operating income was ¥345.9 billion, an increase of
11%.
In the diversified products segment, net sales were ¥474.3 billion, an increase of 7% from the first threequarters of fiscal 2014 due to the depreciation of the yen; operating income was ¥32.7 billion, an increase of 3%
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)

First three quarters results of fiscal 2015

(2) Explanation of Consolidated Financial Position
Assets, liabilities, and net assets positions at the end of the first three quarters of fiscal 2015 were as follows.

(Assets)
In assets, while other in current assets increased ¥3.0 billion, cash and deposits, notes and accounts receivable,
and tangible fixed assets decreased ¥38.5 billion, ¥62.2 billion, and ¥63.3 billion respectively. As a result, assets
decreased ¥251.1 billion compared with the end of the previous fiscal year, to ¥3,709.7 billion.

(Liabilities)
In liabilities, short-term borrowings, accounts payable-other and long-term borrowings decreased ¥38.3 billion,¥73.8 billion, and ¥53.6 billion respectively. As a result, liabilities decreased ¥262.6 billion compared with the endof the previous fiscal year, to ¥1,551.6 billion.

(Net assets)
In net assets, cash dividends paid were ¥93.9 billion and foreign currency translation adjustments decreased¥89.4 billion, while net income was ¥195.1 billion. As a result, net assets increased ¥11.4 billion compared with theend of the previous fiscal year, to ¥2,158.1 billion.
Consequently, the ratio of total equity to total assets increased 3.9% compared with the end of the previous
fiscal year, to 56.3%.

4

Bridgestone Corporation (5108)

First three quarters results of fiscal 2015(3) Explanation of Projections of Consolidated Results
1) Comparison with fiscal 2014
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 feedstock, 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.
.
FY 2015 projections
FY 2015 Projections(Revised)

FY 2014 Results

Increase(Decrease)

Yen in billions

Yen in billions

Yen in billions%

3,900.0

3,673.9

226.0

6Operating income

524.0

478.0

45.9

10

Ordinary income

506.0

463.2

42.7

9

Net income

285.0

300.5

(15.5)(5)

Net sales

Exchange
Rate

Yen

Yen

%

yen/dollar

121

106

14

yen/euro

134

140

－

(4)

2) Revision of the projections
The Companies revised its consolidated full-year financial projections, which were previously announced on
August 7, 2015.
Since the Companies recorded an extraordinary loss of ¥42.3billion from the deconsolidation of Venezuelan
subsidiary, Bridgestone Firestone Venezolana, C.A. and its subsidiary, net income will fall below theprevious projections by ¥35.0billion.

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

5

Bridgestone Corporation (5108)

First three quarters results of fiscal 2015

2. Other Information (Notes)(1) Application of special accounting treatments for consolidated quarterly financial statements(Calculation for income tax expense)
Income tax expense was calculated based upon an estimated effective tax rate for fiscal 2015.
(2) Changes in accounting policy, changes in accounting estimates, and restatements
Changes in accounting policy(Application of Accounting Standard for Retirement Benefits)
The Company has applied the “Accounting Standard for Retirement Benefits” (ASBJ Statement No. 26 of
May 17, 2012, hereinafter referred to as the “Retirement Benefits Accounting Standard”) and the “Guidanceon the Accounting Standard for Retirement Benefits” (ASBJ Guidance No. 25 of May 17, 2012, hereinafter“Retirement Benefits Guidance.”) from the first quarter of fiscal 2015 as provided in the main clause of
Article 35 of the Retirement Benefits Accounting Standard and the main clause of Article 67 of the
Retirement Benefits Guidance. 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 ratechanged from a method based on the number of years approximating the average remaining years ofservice of the employees to a method using a single weighted average discount rate reflecting the estimatedperiod and amount of benefit payment.
In accordance with the transitional treatment prescribed in Section 37 of the Retirement Benefits
Accounting Standard at the beginning of the first three quarters of fiscal 2015, the effect of the accountingchange in retirement benefit obligations and service costs was adjusted in retained earnings.
As a result, net defined benefit asset included in “Other” in “Investments and other assets” decreased by¥14,472 million, net defined benefit liability increased by ¥14,223 million and retained earnings decreasedby ¥18,729 million at the beginning of the first three quarters of fiscal 2015. The effect of this change on
operating income, ordinary income and income before income taxes and minority interests for the first threequarters of fiscal 2015 was immaterial.

6

Bridgestone Corporation (5108)

First three quarters results of fiscal 2015

3. Consolidated Quarterly Financial Statements(1) Consolidated Balance Sheet(Yen in millions)
FY 2014(As of December 31, 2014)

FY 2015 3Q(As of September 30,2015)

AssetsCurrent Assets
Cash and deposits

390,444351.902

Notes and accounts receivable

541,866

479,649

Short-term investments

149,239

148,348

Merchandise and finished products

388,393388,622Work in process

38,308
1,935

40,335
1,935

Raw materials and supplies

170,834
214

155,677

Other

209,992
3,134

213,036

Allowance for doubtful accounts(11,430)
1,110(31,376)

Total Current Assets

1,877,649
419)

1,746,194419)

Fixed Assets

1,274,457

Tangible fixed assets
Buildings and structures, net

527,171

527,494

Machinery, equipment and vehicles, net

543,7658,02

507,077
8,029

Other, net

473,2382,175

446,295
2,175

1,544,174
6,397

1,480,868

71,624
1,076,601

67,923601

Investments in securities

288,455
38,654

275,765

Other

185,520
4,3

144,674

Allowance for doubtful accounts(6,515)
5,076(5,674)

Total investments and other assets

467,4596)

414,766
6)

Total Fixed Assets

2,083,258
8,726

1,963,558
8,726

Total Assets

3,960,908
1,533,981

3,709,752

Total tangible fixed assets
Intangible fixed assets
Investments and other assets

2,808,439

7

Bridgestone Corporation (5108)

First three quarters results of fiscal 2015

(Yen in millions)
FY 2014(As of December 31,2014)

FY 2015 3Q(As of September 30,2015)

Liabilities
Current Liabilities
Notes and accounts payable

198,166

185,457

Short-term borrowings

221,478

183,173－

30,000

Lease obligations

7,431

983

Income taxes payable

46,48941,114

Provision for recall

7,894

1,817

Accounts payable-other191,240

117,375

Other

303,497

297,166

Total Current Liabilities

976,198

857,089

Bonds

120,000

90,000Long-term borrowings

237,948

184,318

6,136

5,960

Net defined benefit liability

314,567

284,643

Other

159,398

129,599

Total Long-term Liabilities

838,051

694,521

1,814,250

1,551,611

Common stock

126,354

126,354

Capital surplus

123,008

123,026

1,842,914

1,925,324

Treasury stock - at cost

(56,367)(56,213)

Total Shareholders’ Equity

2,035,908

2,118,491

Net unrealized gain on
available-for-sale securities

168,172

174,486

Deferred gain(loss) on derivative instruments(2,189)2

Current portion of bonds

Long-term Liabilities

Lease obligations

Total Liabilities

Net Assets
Shareholders' Equity

Retained earnings

Accumulated Other Comprehensive Income

Foreign currency translation adjustments

39,108(50,326)

Remeasurements of defined benefit plans
Total Accumulated Other Comprehensive
Income(165,314)(153,433)

39,776(29,270)

Stock Acquisition Rights

1,945

2,473

Minority Interests

69,02666,446

Total Net Assets

2,146,657

2,158,141

Total Liabilities and Net Assets

3,960,908

3,709,752

8

Bridgestone Corporation (5108)

First three quarters results of fiscal 2015

(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income
First Three Quarters(Yen in millions)
FY 2014 3Q(Nine months ended
September 30, 2014)

FY 2015 3Q(Nine months ended
September 30, 2015)

Net Sales

2,665,106

2,817,330

Cost of Sales

1,665,532

1,709,514

Gross Profit

999,573

1,107,816

Goods freightage expenses

111,046

119,561

Advertising and promotion expenses

86,782

94,528

Salaries, allowances and bonuses

175,274

199,491

Retirement benefit expenses

14,04918,891

Depreciation

21,52523,977

Research and development expenses

67,20570,018Other

181,222202,700

Total selling, general andadministrative expenses

657,105

729,169

Operating Income

342,468

378,646

Interest income

3,962

4,262

Dividend income

6,404

6,508

Other

14,92814,912

Total non-operating income

25,29425,683

Interest expense

11,131

9,497

Foreign currency exchange loss

5,035

8,076

Other

12,54721,066

Total non-operating expenses

28,71438,640Ordinary Income

339,048

365,689

Gain on sales of tangible assets

5,641

－

Gain on sales of investment securities

5,167

13,631

Total extraordinary income

Selling, General and Administrative Expenses

Non-operating Income

Non-operating Expenses

Extraordinary Income

10,80913,631

Extraordinary Loss
Loss on deconsolidation of a
subsidiary－

42,348

Total extraordinary loss－

42,348

Income before Income Taxes andMinority Interests

349,858

336,972

Income Taxes

117,141

133,210

Income before Minority Interests

232,716

203,761

7,046

8,640

225,670

195,120

Minority Interests
Net Income

9Bridgestone Corporation (5108)

Consolidated Statement of Comprehensive Income
First Three Quarter

Income before Minority Interests

First three quarters results of fiscal 2015

(Yen in millions)
FY 2014 3Q(Nine months ended
September 30, 2014)
232,716

FY 2015 3Q(Nine months ended
September 30, 2015)
203,761

Other Comprehensive Income (loss)
Unrealized gain (loss) on available-for-salesecurities(36,640)

6,301

(451)

1,630

Foreign currency translation adjustments

26,434(93,741)

Remeasurements of defined benefit plans(401)

11,844

Share of other comprehensive income inaffiliates(748)(2,775)(11,807)(76,740)

220,909

127,020

211,482

126,073

9,426

946

Deferred gain (loss) on derivative
instruments

Total other comprehensive income
Comprehensive Income
Comprehensive income attribute to:Shareholders of Bridgestone Corporation
Minority Interests

10Bridgestone Corporation (5108)

First three quarters results of fiscal 2015

(3) Notes to the Consolidated Financial Statements(Notes regarding going concern assumption)
Not applicable(Notes regarding significant changes in the amount of shareholders’ equity)
Not applicable(Segment Information)
Information about Sales and Income (Loss) by reportable segment
FY 2014 First Three Quarters (Nine months ended September 30, 2014)
Diversified(Yen in millions)
Adjustments

Tires

Total

Consolidated

Products(Note)Net sales:
External customers－

2,232,042

433,064

2,665,106

2,665,106Inter-segment

2,666

9,332

11,998(11,998)－

Total

2,234,708

442,396

2,677,105(11,998)

2,665,106

310,553

31,900342,45314

342,468

Segment income(Operating income)(Note) Adjustments of segment income refer to elimination of intersegment transactions.

FY 2015 First Three Quarters (Nine months ended September 30, 2015)
Diversified(Yen in millions)
Adjustments

Tires

Total

Consolidated

Products(Note)Net sales:
External customers－

2,354,025

463,305

2,817,330

2,817,330

Inter-segment

4,404

11,071

15,475(15,475)－

Total

2,358,430

474,376

2,832,806(15,475)

2,817,330

345,919

32,762

378,682(35)

378,646

Segment income(Operating income)(Note) Adjustments of segment income refer to elimination of intersegment transactions.

11