Financial Resultsfor 1st Half of Fiscal 2015

Bridgestone Corporation
August 7, 2015

Contents

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

P. 3

2. Consolidated Projections
for Fiscal 2015

P. 9

Copyright © 2015 Bridgestone Corporation | Aug. 7, 20152

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

Business Environment Surrounding◆ Estimated Tire Demand◆ Currency Exchange

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

2014

Truck and Bus
Radial Tires

Japan92％

109％

N. America

102％

115％

Europe108％

106％

1st half2015
2nd half

1st half

US Dollar

102

109

120

Euro

140140134◆ Raw Materials
Tire Demand for 2015 1st Half : Replacement (VS PY)
Passenger
Radial Tires

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

Truck and Bus
Radial Tires

Japan

94％

91％

N. America

101％

102％

Europe102％

102％* The numbers of demand are estimated by Bridgestone Corporation

1st half

2015
2nd half

1st half

Natural Rubber<TSR20>*(￠/kg)

185

155

146

Natural Rubber<RSS#3>*(￠/kg)

218

171

175

Crude Oil
<WTI>(＄/ｂｂl)

100

85

53

*Source : Current Prices for Singapore Commodity Exchange Limited
Copyright © 2015 Bridgestone Corporation | Aug. 7, 20154

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

102120+18115(Yen in billions) Yen/Euro rate:

140134(6)

136（Ref. Feb 17, 2015announcement）
2015 1st HalfProjections

2014
1st Half Results

2015
1st Half Results

VS PY (%)

Net Sales

1,705.2

1,855.4+61,880.0

Tires

1,469.2

1,555.2+6

1,560.0

Diversified
Products

288.8

311.6+8320.0

223.1

237.7

+7232.0（Ratio） 12.7%（Ratio） 12.8%（Ratio）+0.1%（Ratio） 12.3%

Tires

202.0

217.0+7208.0

Diversified
Products

21.0

20.6(2)23.0

Ordinary Income

219.9

232.9+6226.0

Net Income

142.2

144.6+2138.0

Dividends per Share

40 yen60 yen+20 yen

60 yenOperating Income* Figures within parentheses mean minus
Copyright © 2015 Bridgestone Corporation | Aug. 7, 2015

5

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

250

230

210

190

170

Raw
Materials
+64.0

223.1

237.7

150

130

Price, Mix,
Volume etc.
(76.4)

SGA(9.0)

Depreciation(1.0)

StrategicProducts+2.0

ForeignExch. Gain
+35.0

1102014 1st Half
Operating Income+14.6

2015 1st Half
Operating Income* Figures within parentheses mean minus
Copyright © 2015 Bridgestone Corporation | Aug. 7, 2015

6

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

2015
VS PY (%)
1st Half Results（Ref. Feb 17, 2015
announcement）
2015 1st HalfProjections

Japan

603.0

577.3

(4)

580.0

The Americas

833.9

958.2

+15960.0

Europe

222.8

211.4

(5)

200.0

Other Regions

408.5

426.7

+4440.0

Consolidated
Net Sales

1,750.2

1,855.4+6

1,880.0

Japan93.593.4－87.0

The Americas

83.9

108.8

+30

100.0

Europe9.2

8.5(8)

6.0

Other Regions

33.5

33.5

－37.0

Consolidated Operating
Income

223.1

237.7

+7232.0* Figures within parentheses mean minus
Copyright © 2015 Bridgestone Corporation | Aug. 7, 2015

7

B/S Highlights for 1st Half of Fiscal 2015
(Yen in billions)

FY 2015 1st Half
(As of Jun. 30, 2015)

VS. Dec. 31, 2014

Total Assets

3,886.3(74.5)

Total Current Assets

1,813.9(63.6)

Total Fixed Assets

2,072.4(10.8)Net Assets
Ratio of total equity to total assets (%)

2,240.3
55.7

+93.7
+3.3

Interest-Bearing Debt (Net)135.3(67.4)

2015
1st Half Results

VS. PY

103.9
98.5(16.3)+9.9

Capital Expenditure
Depreciation*Figures within parentheses mean minus

Copyright © 2015 Bridgestone Corporation | Aug. 7, 20158

２． Consolidated Projections for Fiscal 2015

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

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

2015

Truck and Bus
Radial Tires

Japan

95％

97％

N. America

103％

107％

Europe107％100％

Asia *1

106％

108％

FYRef.
Feb17,2015
announcement

1st half

2nd half

US Dollar

120120120115

Euro134130132136

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

Truck and Bus
Radial Tires

Japan96％

99％

N. America

99％

101％

Europe98％

101％

Asia *1108％

101％*1 Total of Thailand, Indonesia, India, and China* The numbers of demand are estimated by Bridgestone Corporation* Source : Current Prices for Singapore Commodity Exchange Limited
Copyright © 2015 Bridgestone Corporation | Aug. 7, 201510

Consolidated Projections for Fiscal 2015
Yen/US dollar rate:

106120+14115

140132(8)1362014Results

2015
Projections

VS PY(%）（Ref. Feb 17, 2015
announcement）
2015 Projections

Net Sales

3,673.9

3,900.0+63,980.0

Tires

3,093.3

3,260.0+63,340.0

Diversified
Products

601.8

660.0

+9660.0

Operating Income

478.0

524.0

+10519.0（Ratio） 13.0%（Ratio） 13.4%（Ratio） +0.4%（Ratio） 13.0%

Tires

435.8

470.0

+8464.0

Diversified
Products

42.1

53.0

+2554.0

Ordinary Income

463.2

506.0

+9501.0

Net Income

300.5

320.0+6319.0

Dividends per Share

100 yen

120 yen+20 yen

120 yen（単位：億円）(Yen in billions)

Yen/Euro rate:*Figures within parentheses mean minus
Copyright © 2015 Bridgestone Corporation | Aug. 7, 201511

Analysis of Consolidated Operating Income for Fiscal 2015
(Yen in billions)500

Exchange rate
Sensitivity (full year)450

USD：3.8bil. Yen
EUR：0.5bil. Yen
Raw
Materials+106.0

400
478.0

350

Price, Mix,
Volume etc.
(93.1)

SGA(24.0)

Depreciation(7.0)

StrategicProducts+9.0

524.0

ForeignExch. Gain+55.0300

2014
Operating Income+45.92015
Operating Income*Figures within parentheses mean minus
Copyright © 2015 Bridgestone Corporation | Aug. 7, 2015

12Financial Projections for Fiscal 2015 : Geographic Segments(Yen in billions)

2015
Projections

VS. PY(%)

1,220.0(4)209.0(1)Net Sales
Operating Income＜2015 REP Tire Sales (unit base, vs.PY%)＞
Passenger Radial Tires

around ±0%

Truck and Bus Radial Tires～+5%

Ultra-large ORR Tires (*1)(5%)

Large ORR Tires (*1)±0%(*1)Off-the-Road Radial Tires for Construction and Mining Vehicles(Rubber weight base , including Original Equipment sales)(Yen in billions)

2015
Projections

VS. PY(%)

1,980.0+12224.0+24Net Sales
Operating Income＜2015 REP Tire Sales (unit base, vs.PY%)＞
Passenger Radial Tires

around ±0%

Truck and Bus Radial Tires+6%～+10%*Figures within parentheses mean minus
Copyright © 2015 Bridgestone Corporation | Aug. 7, 201513

Financial Projections for Fiscal 2015 : Geographic Segments(Yen in billions)

2015
Projections

VS. PY(%)

Net Sales

420.0(4)Operating Income

21.0+3＜2015 REP Tire Sales (unit base, vs.PY%)＞
Passenger Radial Tires+11%～+15%

Truck and Bus Radial Tires+6%～+10%(Yen in billions)

2015
Projections

VS. PY(%)

Net Sales

880.0+5

Operating Income76.0+14＜2015 REP Tire Sales (unit base, vs.PY%)＞
Asia
Passenger Radial Tires～+5%
Pacific
Truck and Bus Radial Tires+11%～+15%
China*Figures within parentheses mean minus

Passenger Radial Tires+21%～+25%

Truck and Bus Radial Tires+11%～+15%

Copyright © 2015 Bridgestone Corporation | Aug. 7, 201514

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.