Consolidated Financial Statements
for the First Quarter of the Fiscal Year Ending December 31, 2016
May 11, 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
Code number:5108
Representative: Masaaki Tsuya,

Stock exchange listings: Tokyo, Nagoya, Fukuoka
URL:http://www.bridgestone.com/
Member of the Board
CEO and Representative Executive Officer
Concurrently Chairman of the Board
Contact:
Naoki Hishinuma, Treasurer, General Manager
Telephone:+81-3-6836-3100
Scheduled date of quarterly securities report submission:
May 12, 2016
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 Quarter of Fiscal 2016 (January 1, 2016 - March 31, 2016)(Percentage figures represent changes from the same period of previous year)(1) Consolidated Operating Results
Net sales

Operating income

Yen in millions

Three months ended
March 31, 2016
825,799
Three months ended
March 31, 2015
893,656(Note) Comprehensive Income:%Yen in millions%

Yen in millions%

Yen in millions

%

(7.6)

108,457(6.7)

103,494(10.6)

56,742(20.7)

116,257(0.1)
115,712
1.6
71,594Three months ended March 31, 2016(¥43,144) million [―%]
Three months ended March 31, 2015
¥50,188 million [96.5%]

(0.5)

3.5

Net income
per share
Three months ended
March 31, 2016
Three months ended
March 31, 2015

Profit attributable toowners of parent

Ordinary income

Diluted net income
per share
Yen

Yen

72.45

72.35

91.42

91.31

(2) Consolidated Financial Position
Total assets

As of March 31, 2016
As of December 31, 2015
(Reference) Total equity

Ratio of total equity tototal assets

Net assets

Yen in millions

Yen in millions%

3,533,535
3,795,846

2,171,331
2,282,011
As of March 31, 2016
As of December 31, 2015

59.7
58.2
¥2,110,989 million¥2,209,068 million

2. Dividends
2nd quarter
end

Annual Dividend
3rd quarter
end

Yen

Yen

Yen

Yen

Yen

－
－

60.00

－

70.00

130.00－70.00

140.00

1st quarterend
FY 2015
FY 2016

FY 2016
70.00(Projection)(Note) Changes from the latest forecasts released: No

Year -endTotal

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 sales

Yen in millions%

Yen in millions%

Yen in millions%

YenFirst half year
1,770,000(4.6)
237,000
FY 2016
3,750,000(1.1)
520,000(Note) Changes from the latest forecasts released: No

Yen in millions

%

(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 the three months ended March 31, 2016 : 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):
March 31, 2016
813,102,321 shares
December 31, 2015
813,102,321 shares
2) Number of shares of treasury stock at period end
March 31, 2016
December 31, 2015

29,869,064 shares
29,878,493 shares

3) Average outstanding number of shares (during the first quarter)
First Quarter ended March 31, 2016
783,230,882 sharesFirst Quarter ended March 31, 2015
783,169,339 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 werecompleted at the time of the disclosure of these financial statements.
* 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 andfinancial results to differ substantially from management’s projections and plans, and the statements are notguarantees of future business performance.

Bridgestone Corporation (5108)

First quarter results of fiscal 2016

[ Index ]1. Qualitative Information for the First Quarter of Fiscal 2016

…P2

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

…P4
…P5

2. Other Information (Notes)(1) Application of special accounting treatments for consolidated quarterly financial statements…P5(2) Changes in accounting policy, changes in accounting estimates, and restatements

…P5
…P6

3. Consolidated Quarterly Financial Statements(1) Consolidated Balance Sheet…P6(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income…P8

Consolidated Statement of Income…P8

Consolidated Statement of Comprehensive Income…P9(3) Notes to the Consolidated Financial Statements…P10(Notes regarding going concern assumption)…P10(Notes regarding significant changes in the amount of shareholders’ equity)…P10(Segment Information)

…P10

1

Bridgestone Corporation (5108)

First quarter results of fiscal 2016

1. Qualitative Information for the First Quarter of Fiscal 2016
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 2016 1Q(Three months ended
March 31, 2016)

FY 2015 1Q(Three months ended
March 31, 2015)

Increase(Decrease)

Yen in billions

Yen in billions

Yen in billions%

Net sales

825.7

893.6

(67.8)(8)

Operating income

108.4

116.2

(7.8)

(7)

Ordinary income

103.4

115.7

(12.2)(11)

Profit attributable to owners of parent

56.7

71.5

(14.8)(21)

In the first quarter of fiscal 2016 (January 1 to March 31, 2016), the operating environment surrounding
Companies was as follows: the Japanese yen had been strong and unclear situation continued due to the
upsurge of uncertainty of the global economy

while the Japanese domestic economy continued gradual

recovery with an improvement in the employment environment. The United States economy continued recovery
supported by an increase in consumer spending. The European economy continued modest recovery. In Asia,
the Chinese economic growth remained slow. Overall, overseas economies were gradually recovering but still
weak while the political and economic situation remained unstable. In addition, the tire demand for mining
vehicles decreased by the lower mineral prices.
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 continuing to implement a range of measures for management reforms. In the first quarterof fiscal 2016, the Companies were promoting reform of governance system and implementing a variety ofmeasures to realize more effective utilization of management resources with appropriate expenses.
As a result of the appreciation of Japanese yen and the decrease of unit sales, net sales in the first quarter offiscal 2016 were ¥825.7 billion, a decrease of 8% from the first quarter of fiscal 2015; operating income was¥108.4 billion, a decrease of 7%, ordinary income was ¥103.4 billion, a decrease of 11%; and profit attributable toowners of parent was ¥56.7 billion, a decrease of 21%.

2

Bridgestone Corporation (5108)

First quarter results of fiscal 2016

2) Segment Information

Tires

FY 2016 1Q

FY 2015 1Q(Three months ended
March 31, 2016)(Three months ended
March 31, 2015)

Increase(Decrease)

Yen in billions

Yen in billions

Yen in billions%

Net Sales

679.7

751.7

(72.0)(10)

Operating income

100.4

109.4

(9.0)

(8)

Diversified
Products

Net Sales

149.6

147.1

2.5

2

8.0

6.8

1.2

18

Consolidated
Results

Net Sales

825.7

893.6

(67.8)(8)

Operating income

108.4

116.2

(7.8)

(7)

Operating income

In the tires segment, the Companies worked to maximize sales momentum by introducing attractive new
products globally, enhancing competitiveness of strategic products and reinforcing fundamental competencies
such as specification optimization, and responding promptly to demand fluctuation in each region.
In Japan, the unit sales of tires for passenger cars and light trucks increased firmly and the unit sales of tires fortrucks and buses increased steadily compared to the first quarter of fiscal 2015. In the Americas, the unit sales oftires for passenger cars and light trucks in North America increased steadily and the unit sales of tires for trucks
and buses decreased compared to the first quarter of fiscal 2015 due to a decrease in the sales of original
equipment tires. In Europe, the unit sales of tires for passenger cars and light trucks increased steadily and the unit
sales of tires for trucks and buses increased strongly compared to the first quarter of fiscal 2015. In China and Asia
Pacific, the unit sales of tires for passenger cars and light trucks increased strongly and the unit sales of tires fortrucks and buses increased firmly compared to the first quarter of fiscal 2015. In the specialty tire business, salesof large and ultra-large off-the-road radial tires for construction and mining vehicles were down year on year due toa decrease of demand stemming from tire inventory adjustments at mines.
As a result of the tires sales above and the appreciation of Japanese yen , net sales in the tires segment during
the first quarter of fiscal 2016 were ¥679.7 billion, a decrease of 10% from the first quarter of fiscal 2015; operating
income was ¥100.4 billion, a decrease of 8%.
In the diversified products segment, net sales were ¥149.6 billion, an increase of 2% from the first quarter offiscal 2015 and operating income was ¥8.0 billion, an increase of 18% from fiscal 2015 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 quarter results of fiscal 2016

(2) Explanation of Consolidated Financial Position
Assets, liabilities, and net assets positions at the end of the first quarter of fiscal 2016 were as follows.

(Assets)
In assets, while merchandise and finished products increased ¥4.4 billion, short-term investments, tangible fixed
assets and investments in securities decreased ¥54.6 billion, ¥75.9 billion and ¥48.7 billion respectively. As aresult, assets decreased ¥262.3 billion compared with the end of the previous fiscal year, to ¥3,533.5 billion.

(Liabilities)
In liabilities, while short-term borrowings increased ¥53.8 billion, accounts payable-other and long-termborrowings decreased ¥53.8 billion and ¥77.4 billion respectively. As a result, liabilities decreased ¥151.6 billion
compared with the end of the previous fiscal year, to ¥1,362.2 billion.

(Net assets)
In net assets, while profit attributable to owners of parent was ¥56.7 billion, cash dividends paid were ¥54.8
billion and foreign currency translation adjustments decreased ¥80.1 billion. As a result, net assets decreased¥110.6 billion compared with the end of the previous fiscal year, to ¥2,171.3 billion.
Due to a decrease of assets by ¥262.3 billion, the ratio of total equity to total assets increased 1.5% comparedwith the end of the previous fiscal year, to 59.7%.

(3) Explanation of Projections of Consolidated Results
There are no changes in consolidated projections announced on February 17, 2016.

4

Bridgestone Corporation (5108)

First quarter results of fiscal 2016

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 2016.

(2) Changes in accounting policy, changes in accounting estimates, and restatements
Changes in accounting policy(Application of Accounting Standard for Business Combinations, etc)
The Company has applied the “Accounting Standard for Business Combinations” (Accounting Standards
Board of Japan (ASBJ) Statement No. 21, September 13, 2013), the “Accounting Standard for Consolidated
Financial Statements” (ASBJ Statement No. 22, September 13, 2013), the “Accounting Standard forBusiness Divestitures” (ASBJ Statement No. 7, September 13, 2013) and other relevant standards from thefirst quarter of fiscal 2016. As a result, the difference arising from changes in ownership interests in its
subsidiary when the Companies continue to have control of the subsidiary is accounted for as capitalsurplus, and acquisition-related costs are treated as expenses in the consolidated fiscal year in which theyoccurred. Also, for any business combinations on or after the beginning of the first quarter of fiscal 2016, theadjustments of the purchase price allocation following the determination of the provisional accounting
treatment are reflected in the quarterly consolidated financial statements for the quarter in which thebusiness combination occurred. In addition, the presentation of net income has been changed, and thepresentation of minority interests has been changed to non-controlling interests. To reflect these changes inpresentation, the quarterly consolidated financial statements for the first quarter of the previous fiscal year
and consolidated financial statements for the previous fiscal year have been reclassified.
In accordance with the transitional treatment provided in Paragraph 58-2 (4) of the Accounting Standard forBusiness Combinations, Paragraph 44-5 (4) of the Accounting Standard for Consolidated Financial
Statements, and Paragraph 57-4 (4) of the Accounting Standard for Business Divestitures, these accounting
standards have been applied from the beginning of fiscal 2016 and thereafter.
There is no effect on the consolidated statement of income.

(Application of Practical Solution on Unification of Accounting Policies Applied to Foreign Subsidiaries for
Consolidated Financial Statements)
The Company has applied the “Practical Solution on Unification of Accounting Policies Applied to Foreign
Subsidiaries for Consolidated Financial Statements” (Practical Issues Task Force (“PITF”) No. 18, March 26,2015) from the first quarter of fiscal 2016. In accordance with the transitional treatment provided in PITF No.
18, the overseas subsidiary “BRIDGESTONE HOSE AMERICA INC.” amortizes goodwill for which it has
selected amortization treatment based on Financial Accounting Standards Board (“FASB”) AccountingStandards Codification, Topic 350, “Intangible-Goodwill and Other” using the remaining amortization periodof goodwill on the consolidated financial statements.
There is no effect on the consolidated statement of income.

5

Bridgestone Corporation (5108)

First quarter results of fiscal 2016

3. Consolidated Quarterly Financial Statements(1) Consolidated Balance Sheet(Yen in millions)
FY 2015(As of December 31, 2015)

FY 2016 1Q(As of March 31,2016)

Cash and deposits

387,652

384,514

Notes and accounts receivable

488,832

448,006

Short-term investments

217,348

162,685

Merchandise and finished products

370,046374,517Work in process

35,87735,950Raw materials and supplies

149,815

139,469

Other

192,340

170,099

Allowance for doubtful accounts(33,357)(33,900)

1,808,557

1,681,344

Buildings and structures, net

537,244

511,092

Machinery, equipment and vehicles, net

523,389

494,408

Other, net

443,257

422,392

1,503,891

1,427,893

68,38864,070Investments in securities

299,129

250,361

Other

121,760

114,182

Allowance for doubtful accounts(5,880)(4,317)

Total investments and other assets

415,009360,226

Total Fixed Assets

1,987,289

1,852,191

Total Assets

3,795,846

3,533,535

AssetsCurrent Assets

Total Current Assets
Fixed Assets
Tangible fixed assets

Total tangible fixed assets
Intangible fixed assets
Investments and other assets

6Bridgestone Corporation (5108)

First quarter results of fiscal 2016

(Yen in millions)
FY 2015(As of December 31,2015)

FY 2016 1Q(As of March 31,2016)

Notes and accounts payable

181,973

179,897

Short-term borrowings

125,908

179,720―

7,887

Current portion of bonds

30,00030,000

Lease obligations

1,137

1,047

Income taxes payable

50,52333,576

Liabilities
Current Liabilities

Commercial Paper

Provision for recall

1,196

1,181

Accounts payable-other

164,491

110,638

Other

279,883

262,913

Total Current Liabilities

835,114806,863

Bonds

90,00090,000Long-term borrowings

188,275

110,798

6,256

5,789

Net defined benefit liability

259,521237,798

Other

134,668

110,952

Total Long-term Liabilities

678,720555,339

1,513,835

1,362,203

Common stock

126,354

126,354

Capital surplus

123,025

123,0202,014,497

2,016,414

Long-term Liabilities

Lease obligations

Total Liabilities
Net Assets
Shareholders' Equity

Retained earnings
Treasury stock-at cost
Total Shareholders’ equity(56,212)(56,195)

2,207,664

2,209,593

192,324

160,836

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

(776)

(814)

Foreign currency translation adjustments(55,406)(135,530)

Remeasurements of defined benefit plans(134,736)(123,093)

Total accumulated other comprehensive
income1,404(98,603)

Stock Acquisition Rights

2,469

2,456

Non-controlling Interests

70,47357,885

Total Net Assets

2,282,011

2,171,331

Total Liabilities and Net Assets

3,795,846

3,533,535

7

Bridgestone Corporation (5108)

First quarter results of fiscal 2016

(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income
First Quarter(Yen in millions)
FY 2015 1Q

FY 2016 1Q(Three months ended(Three months ended

March 31, 2015)

March 31, 2016)

Net Sales

893,656

825,799

Cost of Sales

541,471

486,134

Gross Profit

352,184

339,665

Goods freightage expenses

37,80336,088Advertising and promotion expenses

29,67429,091

Salaries, allowances and bonuses

64,18264,284Retirement benefit expenses

7,037

5,172

Depreciation

7,407

7,900

Research and development expenses

23,21624,227

Other

66,60464,442

Total selling, general andadministrative expenses

235,927

231,207

Operating Income

116,257

108,457

Interest income

1,466

1,390

Dividend income

632

482

Foreign currency exchange gain

162―

Gain on sales of investment securities

―

1,590

Other

3,710

2,716

Total non-operating income

5,971

6,179

3,004

2,727

―

4,015

Other

3,512

4,400

Total non-operating expenses

6,516

11,143

115,712

103,494

Gain on sales of investment securities

7,988

―

Total extraordinary income

7,988

―

Loss related to Reorganization of R&D
and Manufacturing Base

―

2,683

Total extraordinary Loss

―

2,683

Income before Income Taxes andNon-controlling Interests

123,701

100,811

Income taxes

48,88841,502

Income before Non-controlling interests

74,81359,309Profit attributable to non-controllinginterests

3,218

2,566

Profit attributable to owners of parent

71,59456,742

Selling, General and Administrative Expenses

Non-operating Income

Non-operating expenses
Interest expense
Foreign currency exchange loss

Ordinary Income
Extraordinary Income

Extraordinary Loss8

Bridgestone Corporation (5108)

Consolidated Statement of Comprehensive Income
First Quarter

First quarter results of fiscal 2016

(Yen in millions)

Income before Non-controlling Interests

FY 2015 1Q(Three months ended

FY 2016 1Q(Three months ended

March 31, 2015)

March 31, 2016)

74,81359,30915,831(31,488)

1,718

208

Foreign currency translation adjustments(45,873)(82,007)

Remeasurements of defined benefit plans

4,885

11,794

Share of other comprehensive income inaffiliates(1,186)(960)

Total other comprehensive income(24,624)(102,453)

50,188(43,144)

Owners of parent

47,539(43,265)

Non-controlling Interests

2,649

121

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

Comprehensive Income
Comprehensive income attribute to:9Bridgestone Corporation (5108)

First quarter results of fiscal 2016(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 2015 First Quarter (Three months ended March 31, 2015)
Diversified
Products

Tires
Net sales:
External customers
Inter-segment
Total
Segment income(Operating income)(Yen in millions)

Adjustments(Note)

Total

750,494
1,266
751,760

143,161
3,958
147,120

893,656
5,224
898,880―

109,428

6,828

116,257―

Consolidated

893,656(5,224)(5,224)－
893,656
116,257(Note) Adjustments of segment income refer to elimination of intersegment transactions.

FY 2016 First Quarter (Three months ended March 31, 2016)
Diversified
Products

Tires(Yen in millions)

Adjustments

Total

Consolidated(Note)Net sales:
External customers―

677,984

147,815825,799

Inter-segment

1,742

1,871

3,613

(3,613)

Total

679,727

149,686

829,413(3,613)825,799

100,409

8,035

108,44512

108,457

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

10

825,799―