Financial Resultsfor 1st Quarter of Fiscal 2015

Bridgestone Corporation
May 11, 2015

Contents

1. Business and Financial Performancefor 1st Quarter of Fiscal 2015

P. 3

2. Consolidated Projectionsfor 1st Half of Fiscal 2015

P. 8

Copyright © 2015 Bridgestone Corporation | May 11, 20152

１． Business and Financial Performancefor 1st Quarter of Fiscal 2015

Business Environment Surrounding◆ Estimated Tire Demand◆ Currency Exchange

Tire Demand for 2015 1st Quarter : Original Equipment (VS PY)
Passenger
Radial Tires

Truck and Bus
Radial Tires

Japan

93％

99％

N. America

103％

120％

Europe

108％

108％

2014

2015

Q1Q2Q3Q4

Q1

US Dollar

103

102

104

114

119

Euro

141

140

138

142

134

◆ Raw Materials
Tire Demand for 2015 1st Quarter : Replacement (VS PY)
Passenger
Radial Tires

Market trend of natural rubber and crude oil (Average)
2014

Truck and Bus
Radial Tires

Japan

83％

75％

N. America

93％

100％

Europe102％

99％* The numbers of demand are estimated by Bridgestone Corporation

2015

Q1

Q2

Q3

Q4

Q1

Natural Rubber<TSR20>*(￠/kg)

198

172

162

148

142

Natural Rubber<RSS#3>*(￠/kg)

225

211

183

159

172

98

103

97

72

48Crude Oil<WTI>(＄/ｂｂl)*Source : Current Prices for Singapore Commodity Exchange Limited
Copyright © 2015 Bridgestone Corporation | May 11, 20154

Consolidated Results for 1st Quarter of Fiscal 2015
Yen/US dollar rate:103

119+16115

115

Yen/Euro rate:(Yen in billions)

141134

(7)

136

136

2014
1st Quarter
Results

2015
1st Quarter
Results

VS PY (%)

2015 1st HalfProjections

2015 FYProjections

Net Sales

863.6

893.6

+3

1,880.0

3,980.0

Tires

727.0

751.7

+3

1,560.0

3,340.0

Diversified
Products

140.2

147.1

+5

320.0

660.0

116.3

116.2

－232.0519.0（Ratio） 13.5%（Ratio） 13.0%（Ratio） △0.5%（Ratio） 12.3%（Ratio） 13.0%

Tires

105.8

109.4+3208.0

464.0

Diversified
Products

10.4

6.8

△3523.0

54.0

Ordinary Income

113.8

115.7+2226.0

501.0

Net Income

71.9

71.5

（1）

138.0

319.0

Operating Income（Ref. Feb 17, 2015 announcement）* Figures within parentheses mean minus
Copyright © 2015 Bridgestone Corporation | May 11, 2015

5

Analysis of Consolidated Operating Income for 1st Quarter of Fiscal 2015
(Yen in billions)120

Exchange rate
Sensitivity (full year)
Strategic
Products+1.0

USD：4.3bil. Yen
EUR：0.5bil. Yen

110100ForeignExch. Gain
+15.0

90116.3

116.2

8070

Price, Mix,
Volume etc.
(40.1)

60

SGA(7.0)

Raw
Materials+31.050

2014 1st Quarter
Operating Income(0.1)

2015 1st Quarter
Operating Income* Figures within parentheses mean minus
Copyright © 2015 Bridgestone Corporation | May 11, 2015

6

Financial Results for 1st Quarter of Fiscal 2015 : Geographic Segments(Yen in billions)2014
1st Quarter
Results

2015
1st Quarter
Results

VS PY (%)

Japan

308.8

283.9

（8）

The Americas

395.6

450.8

+14Europe

112.0

104.3

（7）

Other Regions

200.9

212.0+6

Consolidated
Net Sales863.6

893.6+3Japan

51.7

44.9（13）The Americas

35.7

43.8+22Europe

6.2

5.2（16）

Other Regions

19.9

20.7

+4Consolidated
Operating Income

116.3

116.2

－* Figures within parentheses mean minus
Copyright © 2015 Bridgestone Corporation | May 11, 20157

２． Consolidated Projectionsfor 1st Half of Fiscal 2015

Forecast of Business Environment Surrounding◆ Estimated Tire Demand◆ Currency Exchange

Tire Demand for 2015 1st Half : Original Equipment (VS PY)
Passenger
Radial Tires

Truck and Bus
Radial Tires

Japan92％

106％

N. America

103％

110％

Europe104％106％20142015（Ref. Feb 17,2015announcement）
2015 1st Half
Projections

1stHalf

2ndHalfFullYear

1stHalf

US Dollar

102

109

106

119115

Euro140

140

140130136◆ Raw Materials
Tire Demand for 2015 1st Half : Replacement (VS PY)
Passenger
Radial Tires

Truck and Bus
Radial Tires

Japan

92％

91％

N. America

94％

104％

Europe99％

100％* The numbers of demand are estimated by Bridgestone Corporation* Source : Current Prices for Singapore Commodity Exchange Limited
Copyright © 2015 Bridgestone Corporation | May 11, 20159

Highlights in 1st Quarter of Fiscal 2015
2015 1st Quarter Actual(”projection”: released on 2015/2/17)
Tire sales
volume-PSR&TBR: Same level as PY. Growth in overseas markets offset
decreased sales in Japan market.
-Mining tire: In line with projection, decreased from PY due tocustomers’ inventory adjustment.

Total: Below projection in some markets but same level as PY.
Selling Price/Raw Material

Lower raw material cost > Selling price decrease impact

SGA

Increased from PY due to strategic spending for enhancement ofcomprehensive sales ability.
Net sales: Higher than PY, mainly due to exchange rate.

Consolidated
Operating income: Same level as PY. Better GP supported byfinancial results

lower RM cost offset by higher SGA spending.

Still unstable in some markets, but financial projection is achievable.
Consolidated
Projections in 1H

No change from original projection
Net sales:1,880 / Operating income: 232 (Yen in billions)
Copyright © 2015 Bridgestone Corporation | May 11, 201510

Statements made in this presentation with respect to Bridgestone's current plans,estimates, strategies and beliefs and other statements that are not historical facts are forward-looking
statements about the future performance of Bridgestone. Forward-looking statements
include, but are not limited to, those statements using words such as "believe," "expect," "plans,""strategy," "prospects," "forecast," "estimate," "project," "anticipate," "may" or "might" and words ofsimilar meaning in connection with a discussion of future operations, financial performance,events or conditions. From time to time, oral or written forward-looking statements may also beincluded in other materials released to the public. These statements are based on management's
assumptions and beliefs in light of the information currently available to it. Bridgestone cautions
you that a number of important risks and uncertainties could cause actual results to differ
materially from those discussed in the forward-looking statements, and therefore you should notplace undue reliance on them. You also should not rely on any obligation of Bridgestone to updateor revise any forward-looking statements, whether as a result of new information, future events orotherwise. Bridgestone disclaims any such obligation.