Consolidated Financial Statements for the Fiscal Year Ended December 31, 2018
February 15, 2019
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, the original
Japanese-language supersedes this English translation.
Bridgestone Corporation
Code number:
5108
Representative: Masaaki Tsuya,

Stock exchange listings: Tokyo, Nagoya, Fukuoka
URL:https://www.bridgestone.com/
Chairman of the Board
CEO and Representative Executive Officer
Treasurer, General Manager

Contact:
Tetsuo Kenmochi,
Telephone:+81-3-6836-3100
Scheduled date of annual shareholders’ meeting:
Scheduled date of securities report submission:
Scheduled date of dividend payment commencement:
Supplementary information for the financial statements to be prepared:
Meeting to explain the financial statements to be held:

March 22, 2019
March 22, 2019
March 25, 2019
Yes
Yes

(All amounts are rounded down to the nearest million yen)

1. Consolidated Results for Fiscal 2018 (January 1, 2018 - December 31, 2018)(1) Consolidated Operating Results(Percentage figures represent changes from the same period of previous year)
Profit attributable toOperating income
Ordinary income
owners of parent

Net sales
Yen in millions%

Yen in millions%

Yen in millions

Fiscal 2018
3,650,111
0.2
402,732(3.9)
Fiscal 2017
3,643,427
9.2
419,047(6.8)(Reference) Comprehensive Income: Fiscal 2018 ¥162,160 million [(50.2)%]
Net income
per share

Diluted net income
per share
Yen%

Yen in millions%

381,132(4.9)
291,642400,564(7.4)
288,275
Fiscal 2017 ¥325,654 million [70.4%]

1.2
8.6

Net return on Total
equityOrdinary income/ Total assets

%

%

%

12.4
9.7
12.5
10.4
Fiscal 2017 ¥51 million

11.0
11.5

Yen

Fiscal 2018387.95387.28
Fiscal 2017375.67375.01(Reference) Equity in earnings of affiliates: Fiscal 2018 (¥1,270) million

Operating income
margin(2) Consolidated Financial Position
Total assets

Ratio of total equity tototal assets

Net assets

Yen in millions

Yen in millions

Fiscal 2018
3,863,699
Fiscal 2017
3,959,038(Reference) Total equity: Fiscal 2018 ¥2,378,511 million

2,436,162
2,402,738
Fiscal 2017 ¥2,342,147 million

Total equity per share

%

Yen

61.6
59.2

3,163.71
3,115.69(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

360,955
418,109(243,061)(200,777)(159,094)(190,069)

433,916
501,797

Fiscal 2018
Fiscal 2017

2. Dividends
1stquarterend

Dividend per share
2nd
3rd
Year quarter
quarter
end
end
end

Yen

Fiscal 2017
Fiscal 2018
Fiscal 2019
(Projection)

Yen

Yen

Total

Total
dividends

Dividends
Pay-out
ratio(Consolidated)

Ratio ofdividends
to total equity(Consolidated)

Yen

Yen

Yen in millions

%

%

－
－

70.00
80.00

－
－

80.00
80.00

150.00160.00113,773
120,284

39.9
41.2

5.0
5.1

－

80.00

－

80.00

160.0040.1

3. Consolidated Projected Results for Fiscal 2019 (January 1, 2019 - December 31, 2019)(Percentage figures represent changes from the same period of previous year)
Profit attributable to
Net income
Ordinary income
owners of parent
per share

Net salesFirst half year
Fiscal 2019

Operating income

Yen in millions%

Yen in millions

1,740,000
3,690,000

(2.0)
1.1

165,000
410,000%(17.3)

1.8

Yen in millions

165,000
400,000%(13.5)

5.0

Yen in millions%

Yen

130,000
300,000(3.4)
2.9

172.92399.04

* Notes(1) Changes in principal subsidiaries during fiscal 2018 : 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. : No
2) Changes in accounting policy other than 1): Yes3) Changes in accounting estimates: No4) Restatements: No* For further details, please see page 15, “Changes in accounting policy.”(3) Outstanding number of shares (common stock)
1) Outstanding number of shares at period end (including treasury stock):
December 31, 2018
761,536,421 shares
December 31, 2017
813,102,321 shares
2) Number of shares of treasury stock at period end
December 31, 2018
December 31, 2017

9,726,528 shares
61,375,611 shares

3) Average outstanding number of sharesFiscal 2018 year ended December 31, 2018
Fiscal 2017 year ended December 31, 2017751,760,814 shares
767,356,481 shares(Reference) Summary of Non-consolidated Results(January 1, 2018 - December 31, 2018)(1) Non-consolidated Operating Results
Net sales
Fiscal 2018
Fiscal 2017

Operating income

Ordinary income

Net income

Yen in millions%

Yen in millions%

Yen in millions%

Yen in millions%

889,413858,0813.7
7.5

135,270
138,322(2.2)
0.4

218,951
249,871(12.4)
34.6

176,069
180,194

(2.3)
28.0

Net income
per share
Fiscal 2018
Fiscal 2017

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

Diluted net income
per share
Yen

Yen

234.21
234.82233.80234.41(2) Non-consolidated Financial Position
Total assets

Net assets

Yen in millions

Fiscal 2018
1,989,439
Fiscal 2017
2,053,696(Reference) Total equity: Fiscal 2018 ¥1,439,056 million

Yen in millions

Ratio of total equity tototal assets

Total equity per share%Yen

1,442,509
72.3
1,441,733
70.0
Fiscal 2017 ¥1,438,103 million

1,914.12
1,913.06* These financial statements are exempt from audit procedures* 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 2019.”

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

[ Index ]1. Operating Results…P2(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 2018 and 2019

…P6

2. Basic Policy on the Selection of Accounting Standard…P6

3. Consolidated Financial Statements and Primary Notes…P7(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) Consolidated Statement of Changes in Net Assets…P11(4) Consolidated Statement of Cash Flows…P13(5) Notes to the Consolidated Financial Statements…P15(Notes regarding going concern assumption)…P15(Changes in accounting policy)…P15(Segment information)…P16(Per share information)…P18(Significant subsequent events)…P19

4. Other…P21(1) Senior Management Changes

…P21

1

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

1. Operating Results
The Bridgestone Corporation is referred to as the “Company”, and the Company and its subsidiaries are referred toas the “Group”.
(1) Analysis of Operating Results[Operating results for fiscal 2018]
1) Sales and earnings

From エクセル

Fiscal 2018

Increase(Decrease)

Fiscal 2017

Yen in billions

Yen in billions

Yen in billions%

3,650.1

3,643.4

6.6－

Operating income

402.7

419.0

(16.3)(4)

Ordinary income

381.1

400.5

(19.4)(5)

Profit attributable to owners of parent

291.6

288.2

3.3

1

Net sales

During the fiscal year of 2018 (January 1, 2018 to December 31, 2018), the Group’s operating environment
showed signs of gradual recovery in the domestic economy. However, due to the rising uncertainty of overseas
politics and economies, the future outlook is difficult to predict. The U.S. economy continued on a solid recovery
path, and the European economy continued to show gradual recovery. In Asia, the Chinese economic recovery
has been at a standstill. In addition, tire demand in the mining industry increased along with rising commodity
prices.
Under these operating conditions, the Group continued to focus on three priority issues to realize the ultimate
goal of becoming “a truly global company” and achieving “Dan-Totsu in all aspects of its business.” The first priority
issue is “cultivating global corporate culture.” Bridgestone Corporation has focused on promoting brand strategies
through sponsorship and supporting activities for the Olympic and Paralympic Games Tokyo 2020. The Group has
also expanded sales of highly competitive products and services in global markets, while building and enhancing
a solutions business that extends beyond the scope of existing business to provide customer and social value, toaccelerate technology and business model innovation. In regard to the second and third priority issues, “developing
human resources capable of global management” and “upgrading the global management structure,” the Group
continuously strives to implement various measures, aimed at nurturing diverse human resources and reforming
governance structure, by investing appropriate costs.
As a result, net sales in fiscal 2018 were ¥3,650.1 billion, same level of previous year; operating income was¥402.7 billion, a decrease of 4%, ordinary income was ¥381.1 billion, a decrease of 5%; and profit attributable toowners of parent was ¥291.6 billion, an increase of 1%.

2

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

2) Segment Information
Fiscal 2018

Tires

Increase(Decrease)

Fiscal 2017

Yen in billions

Yen in billions

Yen in billions

Net Sales%

3,051.4

3,031.1

20.2

1

Operating income

393.9

387.1

6.7

2

Diversified
Products

Net Sales

618.7

627.8

(9.0)

(1)

8.9

31.8

(22.9)(72)

Consolidated
Results

Net Sales

3,650.1

3,643.4

6.6

－

402.7

419.0

(16.3)(4)

Operating income
Operating income

In the tire segment, the Group worked to maximize sales momentum by introducing desirable products andservices globally, reinforcing competitive advantages and differentiation, and responding swiftly to demand
fluctuation in each region.
In Japan, unit sales of tires for passenger cars and light trucks increased firmly compared to fiscal 2017, and unit
sales of tires for trucks and buses remained unchanged from fiscal 2017. In the Americas, unit sales of tires forpassenger cars and light trucks in North America remained unchanged from fiscal 2017, and unit sales of tires fortrucks and buses increased strongly, compared to fiscal 2017. In Europe, unit sales of tires for passenger cars andlight trucks increased firmly compared to fiscal 2017, and unit sales of tires for trucks and buses increased strongly
compared to fiscal 2017. In China and Asia Pacific, unit sales of tires for passenger cars and light trucks and unit
sales of tires for trucks and buses decreased compared to fiscal 2017. In the specialty tire business, sales of large
and ultra-large off-the-road radial tires for construction and mining vehicles increased substantially compared tofiscal 2017.
As a result, net sales in the tires segment during fiscal 2018 were ¥3,051.4 billion, an increase of 1% from fiscal
2017; operating income was ¥393.9 billion, an increase of 2%.
In the diversified products business, the chemical and industrial products business is undergoing a radical
business restructuring towards 2021, which is the 50th anniversary year of the integration of business activities
and establishment of the “chemical and industrial products” business. Additionally, the Group is advancing its
management reform in the diversified products business overseas, and the sports, cycle, and AHL (Active and
Healthy Lifestyle) related businesses that have undergone organizational restructuring.
As a result, net sales in the diversified products segment were ¥618.7 billion, a decrease of 1% from fiscal 2017;
while operating income was ¥8.9 billion, a decrease of 72% due to a decrease in the profit of domestic businessand BSAM Diversified Products 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 2018

[Projections for fiscal 2019]
The Group's operating environment will continue to require careful attention due to such factors as fluctuations 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 Group projects the following results through theimplementation of Mid-Term Management Plan initiatives.
Fiscal 2019
projections

Yen in billions

Yen in billions%

1,740.0

1,775.4(35.4)(2)

Operating income

165.0

199.4

(34.4)(17)

Ordinary income

165.0

190.7

(25.7)(14)

Profit attributable toowners of parent

130.0

134.6

(4.6)

(3)

3,690.03,650.1

39.8

1

Operating income

410.0

402.7

7.2

2

Ordinary income

400.0

381.1

18.8

5

Profit attributable toowners of parent

300.0

291.6

8.3

3

Yen

Yen

%

yen/dollar

108

109

(1)

yen/euro123131

yen/dollar

108

110

(2)

yen/euro

123

130

(5)

Net sales
Full-year

Increase(Decrease)

Yen in billions

Net salesFirst half

Fiscal 2018

First half
Exchange
Rate
Full-year―(6)

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 2018

(2) Analysis of Financial Position
1) Cash flows
Fiscal 2018

Increase(Decrease)

Fiscal 2017

Yen in billions

Yen in billions

Yen in billions

Net cash provided by operating activities

360.9

418.1

(57.1)Net cash used in investing activities(243.0)(200.7)(42.2)Net cash used in financing activities(159.0)(190.0)30.9(26.6)

2.7(29.4)(67.8)

30.0(97.9)

501.7

471.7

30.0

433.9

501.7

(67.8)

Effect of exchange rate changes
on cash and cash equivalents
Net increase (decrease)in cash and cash equivalents
Cash and cash equivalents
at beginning of year
Cash and cash equivalents at end of year

The Group’s cash and cash equivalents decreased ¥67.8 billion during fiscal 2018, to ¥433.9 billion, comparedwith an increase of ¥30.0 billion during the previous year.
(Cash flows from operating activities)
Net cash provided by operating activities decreased ¥57.1 billion compared with the previous year, to ¥360.9
billion. The principal contributors in that cash provided included income before income taxes and non-controllinginterests of ¥427.7 billion, compared with ¥420.4 billion during the previous year, depreciation and amortization of¥200.4 billion, compared with ¥200.3 billion during the previous year. These contributors offset income taxes paidof ¥143.7 billion, compared with ¥67.2 billion during the previous year.
(Cash flows from investing activities)
Net cash used in investing activities increased ¥42.2 billion compared with the previous year, to ¥243.0 billion.
The principal contributor in that cash used included payments of ¥257.5 billion for purchase of tangible fixed assets,compared with payments of ¥198.2 billion during the previous year. The contributor offsets proceeds from sales ofinvestments in securities of ¥20.5 billion, compared with ¥31.8 billion during the previous year.
(Cash flows from financing activities)
Net cash used in financing activities decreased ¥30.9 billion compared with the previous year, to ¥159.0 billion.
The principal contributors in that cash used included repayments of long-term borrowings of ¥44.9 billion, compared with¥131.8 billion during the previous year, payment for redemption of bonds of ¥20.0 billion (not applicable during theprevious year), and cash dividends paid of ¥120.2 billion, compared with ¥108.6 billion during the previous year. These
contributors offset net increase in short-term borrowings and commercial paper of ¥24.3 billion, compared with ¥25.6
billion during the previous year, and proceeds from long-term borrowings of ¥15.8 billion, compared with ¥37.1 billion
during the previous year.

5Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

2) Trends in cash flow indicators
Fiscal 2016

Fiscal 2017

Fiscal 2018

Ratio of total equity to total assets (%)

61.5

59.2

61.6

Total equity ratio on market value basis (%)

88.8

99.5

82.4

Interest-bearing debt / cash flow ratio (years)

0.8

1.1

1.1

Interest coverage ratio(times)

44.2

34.6

29.3

(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 statementsof cash 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 2018 and 2019
Regarding the interests of shareholders as an important management priority, the Company follows 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 Company conducts shareholder returns while
maintaining an appropriate financial position and securing the internal revenues necessary for future growthinvestments. In determining dividend payments, the Company comprehensively evaluates factors including businessresults, financial condition for the relevant fiscal period, medium-term earnings forecasts, investment plans, and cash
flows. Based on these considerations, the Company strives to live up to expectations of shareholders by issuingstable dividend payments targeting a consolidated payout ratio of 20%-40%.
The Company 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 Company 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 2018, the Company plans to pay a cash dividend of ¥160 per share, comprising a year-end cash
dividend of ¥80 per share and an interim cash dividend of ¥80 per share.
For the fiscal 2019, the Company plans to pay a cash dividend of ¥160 per share, comprising a year-end cash
dividend of ¥80 per share and an interim cash dividend of ¥80 per share.

2. Basic Policy on the Selection of Accounting Standard
The Group prepares and discloses our Consolidated Financial Statements in accordance with “Japanese
Generally Accepted Accounting Principles”. With respect to International Financial Reporting Standards (IFRS), theGroup has the plan for voluntary adoption of IFRS in the future. The time of adoption is under consideration.

6

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

3. Consolidated Financial Statements and Primary Notes(1) Consolidated Balance Sheet(Yen in millions)
FY 2017

FY 2018(As of December 31, 2017)(As of December 31, 2018)

Cash and deposits

511,895

440,378

Notes and accounts receivable

503,412

601,417

Short-term investments

221,680

153,853

Merchandise and finished products

397,253

407,608

Work in process

36,78737,904

Raw materials and supplies

156,142

171,720

AssetsCurrent Assets

Deferred tax assets

59,85455,973

Other

117,071

121,286

Allowance for doubtful accounts(17,062)(21,729)

1,987,036

1,968,413

Buildings and structures, net

555,770

550,399

Machinery, equipment and vehicles, net

517,639

491,035

Total Current Assets
Fixed Assets
Tangible fixed assets

Land

163,452

167,742

Construction in progress

146,160

171,980

Other, net

90,02387,213

1,473,046

1,468,371

Goodwill

43,781

41,381

Other

61,24860,072

Total Intangible fixed assets

105,029

101,454

Investments in securities

278,802219,970

Long-term loans receivable

6,141

11,465

Deferred tax assets

40,57833,154

Net defined benefit assets

1,345

371

Other

68,64962,022

Allowance for doubtful accounts(1,591)(1,524)

Total Tangible Fixed Assets
Intangible fixed assets

Investments and other assets

393,925

325,459

Total Fixed Assets

Total Investments and Other Assets

1,972,002

1,895,285

Total Assets

3,959,038

3,863,699

7

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

(Yen in millions)
FY 2017

FY 2018(As of December 31, 2017)(As of December 31, 2018)

Notes and accounts payable

232,698

233,970

Short-term borrowings

124,606

100,627

Liabilities
Current Liabilities―

20,955Current portion of bonds

20,00070,000

Lease obligations

14,117

1,686

Income taxes payable

66,453

15,073

Deferred tax liabilities

4,817

3,886

Provision for sales returns
Provision for reorganization of R&D
and manufacturing base

3,603

3,531

―

4,333

Accounts payable-other169,144

182,204

Accrued expenses

223,777

210,734

Other

51,32844,001

Total Current Liabilities

910,545

891,006

Bonds

220,000

150,000

Long-term borrowings

51,72838,041

Lease obligations

28,57627,182

Deferred tax liabilities

53,34447,265Warranty reserve

28,41928,759Provision for environmental remediation
Provision for reorganization of R&D
and manufacturing base

1,696

1,511

8,322

－

202,864

196,005

Commercial paper

Long-term Liabilities

Net defined benefit liability
Other

50,80347,765

Total Long-term Liabilities

645,754

536,530

1,556,300

1,427,537

126,354

126,354

Total Liabilities
Net Assets
Shareholders' Equity
Common stock
Capital surplus
Retained earnings

122,984

121,997

2,342,822

2,362,736

Treasury stock-at cost

(206,052)(32,648)

Total Shareholders’ Equity

2,386,108

2,578,440

176,686

108,888

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

(55)

1,730

Foreign currency translation adjustments(93,479)(174,850)

Remeasurements of defined benefit plans(127,112)(135,696)

Total Accumulated Other Comprehensive
Income(43,960)(199,928)

Stock Acquisition Rights

3,629

3,452

Non-controlling Interests

56,961

54,198

Total Net Assets

2,402,738

2,436,162

Total Liabilities and Net Assets

3,959,038

3,863,699

8

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income(Consolidated Statement of Income)(Yen in millions)
Previous Year

Current Year

(Year ended
December 31, 2017)(Year ended
December 31, 2018)

Net Sales

3,643,427

3,650,111

Cost of Sales

2,262,589

2,268,743

Gross Profit

1,380,838

1,381,367

Goods freightage expenses

170,686

185,880

Advertising and promotion expenses

119,148

113,796

Salaries, allowances and bonuses

258,942

264,602

Retirement benefit expenses

24,19820,508Depreciation

33,62835,511

Research and development expenses

99,791

103,551

Other

255,393

254,783

Total Selling, General and
Administrative Expenses

961,791

978,635

Operating Income

419,047

402,732

Interest income

6,336

4,453

Dividend income

7,803

7,402

－

3,853

Other

15,225

14,703

Total Non-operating Income

29,36630,413

Interest expense

12,104

12,810Foreign currency exchange loss

8,508

7,041

Other

27,23632,160Total Non-operating Expenses

47,84952,012

Ordinary Income

400,564

381,132

28,595

16,237

10,616－－30,39839,211

46,635

Impairment loss

10,122－

Expenses related to relocation of head officeof Americas Operations

4,745

－

Loss related to civil litigation in the Americas

4,484

－

Total Extraordinary Loss

19,353－

Income before Income Taxes andNon-controlling Interests

420,422427,768

Income Taxes - Current

124,708

110,438

Income Taxes - Deferred(1,702)

17,579Total Income Taxes

123,006

128,017

Income before Non-Controlling Interests

297,416

299,750

Selling, General and Administrative Expenses

Non-operating Income

Settlement received

Non-operating Expenses

Extraordinary Income
Gain on sales of investment securities
Gain on sales of shares of subsidiaries andassociates
Gain on establishment in jointly controlled entity
Total Extraordinary Income
Extraordinary Loss

Profit Attributable to Non-controlling Interests
Profit Attributable to Owners of Parent

9

9,140

8,108

288,275

291,642Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

(Consolidated Statement of Comprehensive Income)(Yen in millions)

Income before Non-controlling Interests

Previous Year

Current Year

(Year ended
December 31, 2017)(Year ended
December 31, 2018)297,416

299,750

2,471(67,787)

Deferred gain (loss) on derivative instruments

1,560

500

Foreign currency translation adjustments

14,722(81,140)

Remeasurements of defined benefit plans

10,073

12,279(590)(1,442)

28,237(137,589)

325,654

162,160

316,778

156,553

8,875

5,607

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

Share of other comprehensive income inaffiliates
Total Other Comprehensive Income
Comprehensive Income
Comprehensive income attributable to:
Owners of parent
Non-controlling interests

10Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

(3) Consolidated Statement of Changes in Net Assets
Previous Year (Year ended December 31, 2017)(Yen in millions)Shareholders’ equity

Beginning balanceCommon stock

Capital surplus

126,354

123,005

Retainedearnings

Treasury stockat cost

2,163,115(56,151)

Total
2,356,323(Changes in the year)
Cash dividends
Profit attributable toowners of parent
Purchase of treasury stock
Disposal of treasury stock
Purchase of shares of
consolidated subsidiaries
Net changes in the year
Total changes in the year
Ending balance(108,463)(108,463)

288,275

288,275(21)(150,012)(150,012)

111

90

(105)

(105)

－

(21)

179,707(149,901)

29,784

126,354

122,984

2,342,822(206,052)

2,386,108

Accumulated other comprehensive income

Beginning balance

Net unrealized
gain (loss)
on availablefor-salesecurities
174,197

Stockacquisitionrights

Noncontrollinginterests(137,698)

2,975

59,063

10,585653(2,102)

10,585653(2,102)(127,112)

3,629

56,961

Deferredgain (loss)
on derivative
instruments

Foreigncurrencytranslation
adjustments

Remeasurementsof defined benefit
plans(1,720)(107,242)

2,489

1,665

13,762

2,489

1,665

13,762

176,686(55)(93,479)(Changes in the year)
Cash dividends
Profit attributable toowners of parent
Purchase of treasury stock
Disposal of treasury stock
Purchase of shares of
consolidated subsidiaries
Net changes in the year
Total changes in the year
Ending balance11

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

Current Year (Year ended December 31, 2018)(Yen in millions)Shareholders’ equity

Commonstock
Beginning balance
Cumulative effects of changes
in accounting policies
Restated balance

Capital surplus

126,354

122,984

Retainedearnings

Treasury stockat cost

2,342,822(206,052)

20,879126,354

122,984

2,363,701

Total
2,386,108
20,879(206,052)

2,406,987(Changes in the year)
Cash dividends
Profit attributable toowners of parent
Purchase of treasury stock(120,278)(120,278)

291,642

291,642(8)(8)

Disposal of treasury stock
Cancellation oftreasury shares
Capital increase of
consolidated subsidiaries
Net changes in the year

(108)

285

177

(172,220)

173,126－

Total changes in the year
Ending balance

(905)
(80)

(80)

－

(986)

(964)

173,403

171,452

126,354

121,997

2,362,736(32,648)

2,578,440

Accumulated other comprehensive income

Beginning balance
Cumulative effects of changes
in accounting policies
Restated balance

Net unrealized
gain (loss)
on availablefor-salesecurities
176,686

Deferredgain (loss)
on derivative
instruments

Foreigncurrencytranslation
adjustments

Remeasurementsof defined benefit
plans

(55)

(93,479)(127,112)

Stockacquisitionrights

Noncontrollinginterests

3,629

56,961(20,879)
176,686(55)(93,479)(147,991)

3,629

56,961(67,798)

1,786(81,370)

12,294(177)(2,763)(Changes in the year)
Cash dividends
Profit attributable toowners of parent
Purchase of treasury stock
Disposal of treasury stock
Cancellation oftreasury shares
Capital increase of
consolidated subsidiaries
Net changes in the year
Total changes in the year

(67,798)

1,786(81,370)

12,294(177)(2,763)Ending balance

108,888

1,730(174,850)(135,696)

3,452

54,19812

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

(4) Consolidated Statement of Cash Flows(Yen in millions)
Previous Year

Current Year

(Year ended
December 31, 2017)(Year ended
December 31, 2018)

Cash Flows from Operating Activities
Income before income taxes and non-controllinginterests

420,422427,768

Depreciation and amortization

200,377

200,476

4,560

4,559

249

5,774

1,192

6,562

Interest and dividend income(14,140)(11,855)

Interest expense

12,104

12,810Foreign currency exchange loss (gain)

3,982

3,332

Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in net defined benefit
liability－(3,853)

Loss (gain) on sales of investment insecurities(28,595)(16,237)

Loss (gain) on sales of shares of subsidiaries
and associates(10,616)－

Settlement received－(30,398)

Impairment loss

10,122－

Expenses related to relocation of head officeof Americas Operations

4,745

－

Loss related to civil litigation in the Americas

4,484

－

Decrease (increase) in notes and accounts
receivable(93,946)(57,384)

Decrease (increase) in inventories(26,123)(55,837)

Increase (decrease) in notes and accounts
payable35,09615,322Gain on establishment in jointly controlled entity

Other(31,260)

301

Subtotal492,657

501,340

Interest and dividends received

14,115

11,805Interest paid

(12,078)(12,328)－

3,853

Payments related to relocation of head officeof Americas Operations(4,786)－

Payments related to civil litigation in the Americas(4,546)－

Income taxes paid

(67,252)(143,715)

Net Cash Provided by Operating Activities

418,109360,955

Payments for purchase of tangible fixed assets(198,259)(257,548)

Proceeds from sales of tangible fixed assets

8,628

8,234

Payments for purchase of intangible assets(6,295)(5,753)

Payments for purchase of investment insecurities(4,841)(2,867)

Proceeds from sales of investments insecurities

31,831

20,524

Payments of long-term loans receivable(2,394)(5,667)

Other(29,447)

16

Net Cash Used in Investing Activities(200,777)(243,061)

Amount of settlement received

Cash Flows from Investing Activities

13

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

(Yen in millions)
Previous Year

Current Year

(Year ended
December 31, 2017)(Year ended
December 31, 2018)

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

25,607

24,347

Proceeds from long-term borrowings

37,164

15,823

Repayments of long-term borrowings(131,848)(44,955)

Proceeds from issuance of bonds

150,000－

Payments for redemption of bonds―(20,000)(1,292)(5,318)Cash dividends paid

(108,654)(120,234)

Cash dividends paid to non-controlling interests(11,015)(9,035)

Other(150,030)

277

Net Cash Used in Financing Activities(190,069)(159,094)

2,794(26,680)

30,056(67,881)

Cash and Cash Equivalents at Beginning of Year471,741

501,797

Cash and Cash Equivalents at End of Year

501,797433,916

Payments of obligations under finance leases

Effect of Exchange Rate Changes on Cash andCash Equivalents
Net Increase (Decrease) in Cash and Cash
Equivalents

14

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018(5) Notes to the Consolidated Financial Statements(Notes regarding going concern assumption)
Not applicable(Changes in accounting policy)(Adoption of Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income)The certain overseas subsidiaries have early adopted ASU No. 2018-02, "Reclassification of Certain Tax Effects
from Accumulated Other Comprehensive Income (revised on February 14, 2018)" from the beginning of fiscal
2018.
Changes in deferred tax assets and deferred tax liabilities resulting from change in tax rate following theenactment of the “Tax Cuts and Jobs Act” by the U.S. federal government on December 22, 2017 were includedin the accumulated consolidated net profit of the previous fiscal year. On the other hand, changes in tax effects
above recognized through accumulated other comprehensive income were stranded in accumulated othercomprehensive income in the previous fiscal year. Due to the adoption of "Reclassification of Certain Tax Effects
from Accumulated Other Comprehensive Income", subsidiaries reclassified stranded tax effects resulting fromchange in tax rate above from accumulated other comprehensive income to retained earnings. In accordance withthe transitional treatment prescribed in this accounting policy, reclassification was made at the beginning of fiscal
2018.
As a result, retained earnings increased by ¥20,879 million and remeasurements of defined benefit plansdecreased by ¥20,879 million at the beginning of fiscal 2018. This change in accounting policy have no effect on
consolidated statement of income of fiscal 2018.

15

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

(Segment information)
1. Overview of reporting segments
The Group’s reporting segments are components of the Group 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 Group’s reporting segments consist mainly of Tire business including the production and sale of tires andtubes, 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 Group has two reporting segments: Tires and Diversified
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 and manufacturing cost.
3. Information regarding Sales and Income (Loss), assets and other items by reporting segment
Consolidated Results for Fiscal 2017 (January 1, 2017 - December 31, 2017)
Diversified
Products

Tires
Net sales:
External customers
Inter-segment
Total
Segment income(Operating income)Segment assets
Other
Depreciation andamortization
Amortization of goodwill
Investment for equitymethod affiliates
Increase in tangible andintangible fixed assets

Adjustments(notes)

Total(Yen in millions)
Consolidated

3,021,000
10,1553,031,156

622,4275,420
627,848

3,643,427
15,576
3,659,004―(15,576)(15,576)

3,643,427―
3,643,427

387,158

31,879419,0389419,047

3,513,679

447,760

3,961,439(2,401)

3,959,038

179,790

20,587200,377―

200,377

2,702

1,858

4,560

―

4,560

16,195418

16,613(3)

16,610225,975

33,782259,757―

259,757

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.

16

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

Consolidated Results for Fiscal 2018 (January 1, 2018 - December 31, 2018)
Tires

Diversified
Products

Total(Yen in millions)
Adjustments(notes)

Net sales:
External customers
3,041,099
609,0113,650,111－
Inter-segment
10,301
9,744
20,045(20,045)
Total
3,051,400
618,755
3,670,156(20,045)
Segment income
393,9548,920
402,874(142)(Operating income)Segment assets
3,414,288
454,266
3,868,555(4,856)
Other
Depreciation and
181,345
19,130200,476－
Amortization
Amortization of goodwill
3,035
1,524
4,559
－
Investment for equity47,394
408
47,80335
method affiliates
Increase in tangible and241,047
31,849272,897－
intangible fixed assets
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.

17

Consolidated
3,650,111－
3,650,111
402,732
3,863,699
200,476
4,559
47,838272,897

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

(Per share information)
(Yen)
Items

Previous Year
(Year ended December 31, 2017)

Current Year
(Year ended December 31, 2018)

Total equity per share

3,115.69

3,163.71

Net income per share

375.67387.95

Diluted net income per share

375.01387.28

Note: Total equity per share and diluted net income per share are calculated based on the following:
Previous Year
(Year ended December 31, 2017)(Yen in millions)

Current Year
(Year ended December 31, 2018)(Yen in millions)

288,275

291,642――

288,275

291,642

Average number of shares heldby common shareholders during
term
Diluted net income per share(Thousands of shares)
767,356

751,760(Thousands of shares)(Thousands of shares)

Adjustments of profit attributableto owners of parent
Increase of common stock(stock option portion included in
the above)

―

―

1,355

1,299

(1,355)(1,299)

Summary of residual shares with ―――――――――――――――――
no dilution effect and therefore notincluded in calculation of diluted
net income per share―――――――――――――――――Net income per share
Profit attributable toowners of parent
Amount not belonging tocommon shareholders
Profit attributable to owners ofparent corresponding tocommon shareholders

18

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

(Significant subsequent events)
1. Acquisition of Treasury Stock
The Company has resolved to acquire Treasury Stock at the Board of Directors meeting held on February 15, 2019as per Article 165-3 and Article 156 of the Companies Act.
1) Reason of Acquisition of Treasury StockTo enhance enterprise value by improving capital efficiency

2) Kind of shares to acquire

Common shares of the Company

3) Total number of shares to acquire

57 million shares (up to)(% of issued shares (not included Treasury Stock); 7.6%)

4) Total acquisition cost¥200 billion (up to)5) Procedurea) Purchases through the off-auction own shares(a)repurchase trading system of the Tokyo Stock(a)Exchange (ToSTNeT-3)b) Market purchases based on the discretionary dealing(b)contract regarding repurchase of shares

6) Timing

February 18, 2019 to December 23, 2019

2. Cancellation of Treasury Stock
The Company has resolved to cancel Treasury Stock at the Board of Directors meeting held on February 15, 2019as per Article 178 of the Companies Act.

3.

1) Kind of shares to cancel

Common shares of the Company

2) Total number of shares to cancel

All the common shares acquired from February 18, 2019
to December 23, 20193) Effective date of the Cancellation

January 21, 2020

Issue of the Bonds
The Company has passed a comprehensive resolution to issue domestic unsecured straight bonds (the “Bonds”) on

February 15, 2019 as follows.
1) Total amount of issue

Maximum of ¥200 billion,
Multiple offerings are possible by dividing this amount2) Issuance period

February 15, 2019 to December 31, 20193) Issue price¥100 or larger per each principal amount of ¥100

4) Coupon

Up to the sum of prevailing yields of Japanese Government Bonds
which have the corresponding maturities with the Bonds and 1.0%

5) Maturity

Up to 10 years

6) Redemption

The Bonds will be redeemed in full upon maturity

7) Use of proceeds

Investments,capital expenditures,loans and acquisition of treasury stock, etc.

19

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

4. Purchase of the company by the share acquisition
The company's subsidiary Bridgestone Europe NV/SA, has entered into an agreement with TomTom to acquire
TomTom Telematics, its digital fleet solutions business, for a cash consideration of EUR910 million. The
transaction is anticipated to be completed latest in the 2nd quarter of 2019, subject to the satisfaction ofcustomary closing conditions such as regulatory approvals.
TomTom is the number one provider of digital fleet solutions in Europe, a marketplace with very diverse in legal,commercial and cultural requirements. Its digital fleet solutions business has successfully demonstrated its ability
to operate in complex and demanding market environments and has continued to strengthen its potential toexpand globally.
TomTom's digital fleet solution offers an industry leading data platform for connected vehicles enabling safer
driving, improving productivity and optimizing uptime for personal and commercial mobility. Combining this digital
fleet solution with Bridgestone's tire expertise and global service network creates an opportunity that accelerates
the company's effort to become a key partner in the Mobility as a Service (MaaS) landscape with leading tire
products, services and solutions offerings.
In addition to reinforcing Bridgestone's broad and leading portfolio, this strategic investment will also strengthen
its position as an innovative leader in the field of tire design, and tire predictive maintenance service. Bridgestone
will gain unprecedented insights into vehicle and tire operating conditions and be able to leverage a growing
installed user base of 860,000 vehicles communicating 200 million data points per day.
Company profile of TomTom N.V.
(1) Name of company: Tom Tom N.V.
(2) Location of headquarters: Amsterdam, Netherland(3) CEO: Mr. Harold Goddjin(4) Common stock: EUR 47,064,000 (as of Dec 2017)(5) Sales of Tom Tom Telematic B.V.: EUR 162 million (in 2017)20

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

4. Other(1) Senior Management Changes

1) New Members of the Board of Directors

Current occupation in parentheses

To be assumed after approval at the Company’s Annual Shareholders' Meeting on March 22, 2019
Member of the Board

Akihiro Eto[ President

President

COO and Representative Executive

COO and Representative Executive

Officer ]OfficerMember of the Board

Tsuyoshi Yoshimi[ Vice President and Officer
Auditing ]2) Retiring Member of the Board of Directors

Plan after retirement in parentheses

Effective March 22, 2019
Member of the Board

Kazuhisa Nishigai[ External Advisor ]Member of the Board

Narumi Zaitsu[ External Advisor ]Member of the Board

Kenichi Togami[ External Advisor ]3) Re-elected Members of the Board of Directors

Current occupation in parentheses

To be assumed after approval at the Company’s Annual Shareholders' Meeting on March 22, 2019
Chairman of the Board

Masaaki Tsuya[ Chairman of the Board

CEO and Representative

CEO and Representative Executive

Executive Officer

Officer ]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

Kenichi Masuda[ Member of the Board ]Member of the Board

Kenzo Yamamoto[ Member of the Board ]Member of the Board

Keikou Terui[ Member of the Board ]Member of the Board

Seiichi Sasa

[ Member of the Board ]Member of the Board

Yojiro Shiba[ Member of the Board ]21

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

Member of the Board

Yoko Suzuki[ Member of the Board ]* Mr. Scott Trevor Davis, Ms. Yuri Okina, Mr. Kenichi Masuda, Mr. Kenzo Yamamoto,
Mr. Keikou Terui, Mr. Seiichi Sasa, Mr. Yojiro Shiba and Ms. Yoko Suzuki are candidates for outside directors as set
forth in Article 2(xv) of the Companies Act.

4) Members of the Nominating Committee

Current occupation in parentheses

To be assumed after approval at the Board Meeting on March 22, 2019
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

Kenichi Masuda[Member of the Board ]* Mr. Scott Trevor Davis, Ms. Yuri Okina and Mr. Kenichi Masuda are candidates for outside directors as set forth in
Article 2(xv) of the Companies Act.

5) Members of the Audit Committee

Current occupation in parentheses

To be assumed after approval at the Board Meeting on March 22, 2019
Member of the Board

Kenzo Yamamoto[ Member of the Board ]Member of the Board

Keikou Terui[ Member of the Board ]Member of the Board

Seiichi Sasa

[ Member of the Board ]Member of the Board

Yojiro Shiba[ Member of the Board ]Member of the Board

Yoko Suzuki[ Member of the Board ]Member of the Board

Tsuyoshi Yoshimi[ Vice President and Officer
Auditing ]* Mr. Kenzo Yamamoto, Mr. Keikou Terui, Mr. Seiichi Sasa, Mr. Yojiro Shiba and Ms. Yoko Suzuki are candidates foroutside directors as set forth in Article 2(xv) of the Companies Act.

6) Members of the Compensation Committee

Current occupation in parentheses

To be assumed after approval at the Board Meeting on March 22, 2019
Member of the Board

Scott Trevor Davis

22[ Member of the Board ]Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

Member of the Board

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

Kenichi Masuda[ Member of the Board ]* Mr. Scott Trevor Davis, Ms. Yuri Okina and Mr. Kenichi Masuda are candidates for outside directors as set forth in
Article 2(xv) of the Companies Act.

7) Re-elected Members of Executive Officers

Current occupation in parentheses

To be assumed after approval at the Board Meeting on March 22, 2019
Chairman of the Board

Masaaki Tsuya[ Chairman of the Board

CEO and Representative

CEO and Representative Executive

Executive Officer

Officer ]Member of the Board

Akihiro Eto[ President

President

COO and Representative Executive

COO and Representative Executive

Officer ]Officer
Vice

Chair

and

Representative Shuichi Ishibashi[ Vice Chair and Representative

Executive Officer

Executive Officer

Responsible for GBS (Global

Responsible for GBS (Global

Business Support)

Business Support)

Concurrently responsible for

Concurrently responsible forTechnology and Quality

Technology and Quality

Management

Management

Concurrently responsible for

Concurrently responsible for

Global Original Equipment and Mar

Globalketing Strategy

Marketing Strategy

Concurrently responsible for

Concurrently responsible for

Olympics・Paralympics, Sports・Cyc

Olympics・Paralympics, Sports・le & Active Healthy Lifestyle

Cycle & Active Healthy Lifestyle

Concurrently

Executive

Chair

of

Executive

Chair

and

Bridgestone Sports Co., Ltd.
of

Concurrently Executive Chair ofBridgestone Cycle Co., Ltd.
Vice Chair and Executive Officer of

Equipment

Concurrently Executive Chair ofBridgestone Sports Co., Ltd.
Concurrently

Original

Bridgestone Cycle Co., Ltd. ]Gordon Knapp[ Vice Chair and Executive Officer ofBridgestone Corporation

Bridgestone Corporation

Member of the Board, CEO andMember of the Board, CEO andPresident of Bridgestone Americas,

President of Bridgestone Americas,

Inc.

Inc. ]

23

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

Executive Vice President andPaolo Ferrari[ Executive Vice President andExecutive Officer of Bridgestone

Executive Officer of Bridgestone

Corporation

Corporation

Member of the Board, CEO andMember of the Board, CEO andPresident of Bridgestone Europe

President of Bridgestone Europe

NV/SA

NV/SA

Chairman of Bridgestone Americas,

Chairman of Bridgestone Americas,

Inc.

Inc. ]

Executive Vice President andChristine Karbowiak[ Executive Vice President andExecutive Officer of Bridgestone

Executive Officer of Bridgestone

Corporation

Corporation

Responsible for Global Public

Responsible for Global Public

Relations, Government Relations andRelations, Government Relations

Sustainability

and Sustainability

Vice Chair, Chief Administrative

Vice Chair, Chief Administrative

Officer, Chief Risk Officer andOfficer, Chief Risk Officer andExecutive Vice President of

Executive Vice President ofBridgestone Americas, Inc.

Bridgestone Americas, Inc. ]Senior Vice President and Executive

Masato Banno[ Senior Vice President and Executive

Officer

Officer

Chief Technology Officer

Chief Technology Officer

Responsible for Technology, Quality

Responsible for Technology, Quality

Management; Concurrently

Management; Concurrently

responsible for Products andresponsible for Products andTechnology Development

Technology Development ]Senior Vice President and Executive

Masahiro Higashi[ Senior Vice President and Executive

Officer

Officer

Responsible for MAA (Mining, Aircraft,

Responsible for MAA (Mining, Aircraft,

Agriculture) & Diversified Products

Agriculture) & Diversified Products

Solutions Business

Solutions Business ]8) New Member of Corporate Officers

Current occupation in parentheses

Effective March 22, 2019

Vice President and Officer of

Scott Damon[ President, Commercial Group,

Bridgestone Corporation

U.S. and Canada of Bridgestone

President, Commercial Group, U.S.

Americas, Inc. ]and Canada of Bridgestone
Americas, Inc.

24

Bridgestone Corporation (5108) Consolidated Financial Statements for fiscal 2018

Vice President and Officer ofEmilio Tiberio[ Vice President, Research &Bridgestone Corporation

Development of Bridgestone Europe

Chief Technology Officer of

NV/SA ]

Bridgestone Europe NV/SA

9) Promotion of Corporate Officers

Current occupation in parentheses

Effective March 22, 2019

Vice President and Senior

Christopher Nicastro[ Vice President and Officer of

Officer of Bridgestone

Bridgestone Corporation

Corporation

Vice President, General

Vice President, GeneralCounsel, Secretary andCounsel, Secretary and Chief Co

Chief Compliance Officer,

mpliance Officer,

Bridgestone Americas, Inc.

Bridgestone Americas, Inc.

Member of the Board ofMember of the Board of

Bridgestone Europe NV/SA ]Bridgestone Europe NV/SA

Vice President and Senior

Gabriel Asbun[ Vice President and Officer of

Officer of Bridgestone

Bridgestone Corporation

Corporation

Member of the Board, COO of

Member of the Board,

Bridgestone Asia Pacific Pte. Ltd. ]CEO and COO of Bridgestone Asia
Pacific Pte. Ltd.

10) Retiring Corporate Officers

Plan after retirement in parentheses

Effective March 22, 2019

Senior Vice President andMinoru Shimizu[ External Advisor ]Senior Officer
Assistant to President, COO
and Representative Executive Offi
cer

[ END ]

25