Consolidated Financial Statements
for the First Half of the Fiscal Year Ending December 31, 2015
August 7, 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:
August 7, 2015
Scheduled date of dividend payment commencement:
September 1, 2015
Supplementary information for the quarterly financial statements to be prepared:
Yes
Meeting to explain for the quarterly financial statements to be held:
Yes(All amounts are rounded down to the nearest million yen)

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

Operating income

Yen in millions

Six months ended
June 30, 2015
1,855,494
Six months ended
June 30, 2014
1,750,259(Note) Comprehensive Income:Net income%

Yen in millions%

Yen in millions%

Yen in millions%

6.0

237,792

6.6

232,990

5.9

144,6501.7

223,152
17.2
219,96318.9
142,243
Six months ended June 30, 2015
¥160,793 million [109.7%]
Six months ended June 30, 2014
¥76,663 million [(69.2%)]

21.5

2.6

Net income
per share
Six months ended
June 30, 2015
Six months ended
June 30, 2014

Ordinary income

Diluted net income
per share
Yen

Yen

184.69184.45

181.64181.43(2) Consolidated Financial Position
Total assets

Ratio of total equity tototal assets

Net assets

Yen in millions

Yen in millions%

As of June. 30, 2015

3,886,380

2,240,390

55.7

As of December 31, 2014
(Reference) Total equity

3,960,908

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

52.4
¥2,166,182 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)(Percentage figures represent changes from the previous year)
Net income
Operating income
Ordinary income
Net income
per share

Net sales
Yen in millions%

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

320,000

6.5

408.59

* Notes(1) Changes in principal subsidiaries during the six months ended June 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):
June 30, 2015
813,102,321 shares
December 31, 2014
813,102,321 shares
2) Number of shares of treasury stock at period end
June 30, 2015
December 31, 2014

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

3) Average outstanding number of shares (during the first half)First Half ended June 30, 2015
783,189,443 sharesFirst Half ended June 30, 2014
783,090,292 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 February 17, 2015 are revised in thisdocument. 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 Half of Fiscal 2015, (3) Explanation of Projections of Consolidated Results”, on page 5.

Bridgestone Corporation (5108)

First half results of fiscal 2015

[ Index ]1. Qualitative Information for the First Half 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 half results of fiscal 2015

1. Qualitative Information for the First Half 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 1H

FY 2014 1H(Six months ended(Six months ended

June 30, 2015)

June 30, 2014)

Increase(Decrease)

Yen in billions

Yen in billions

Yen in billions%

1,855.4

1,750.2

105.2

6

Operating income

237.7

223.1

14.6

7

Ordinary income

232.9

219.9

13.0

6

Net income

144.6

142.2

2.4

2

Net sales

In the first half of fiscal 2015 (January 1 to June 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 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 has shown signs of sluggishness represented by slower Chinese
economic expansion. Overall, many international economies were recovering weakly while the political andeconomic 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 half of fiscal 2015 were ¥1,855.4 billion, an increase of 6% from the first half offiscal 2014; operating income was ¥237.7 billion, an increase of 7%; ordinary income was ¥232.9 billion, an
increase of 6%; and net income was ¥144.6 billion, an increase of 2%.

2

Bridgestone Corporation (5108)

First half results of fiscal 2015

2) Segment Information
FY 20151H

FY 2014

1H
Increase(Six months ended(Six months ended

June 30, 2015)

June 30, 2014)(Decrease)

Yen in billions

Yen in billions

Yen in billions%

1,555.2

1,469.2

86.0

6Operating income

217.0

202.0

15.0

7

Diversified
Products

Net Sales

311.6

288.8

22.8

8

Operating income

20.6

21.0

(0.3)

(2)

Consolidated
Results

Net Sales

1,855.4

1,750.2

105.2

6

237.7

223.1

14.6

7

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 half of fiscal 2014. The unit
sales of truck and bus tires remained unchanged from the first half of fiscal 2014 due to an increase in the salesof original equipment tires. In the Americas, the unit sales of passenger car and light truck tires in North America
increased firmly and the unit sales of tires for trucks and buses increased strongly compared to the first half offiscal 2014. In Europe, the unit sales of passenger car and light truck tires increased steadily compared to the firsthalf of fiscal 2014, as well as tires for trucks and buses. In Asia Pacific, the unit sales of passenger car and lighttruck tires remained unchanged from the first half of fiscal 2014 and the unit sales of truck and bus tires increased
substantially compared to the first half of fiscal 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 substantially compared to the first halfof fiscal 2014. In the specialty tire business, the sales volume of off-the-road radial tires for construction andmining vehicles remained unchanged from the first half of fiscal 2014.
As a result, net sales in the tires segment during the first half of fiscal 2015 were ¥1,555.2 billion, an increase of
6% from the first half of fiscal 2014; operating income was ¥217.0 billion, an increase of 7%.
In the diversified products segment, net sales were ¥311.6 billion, an increase of 8% from the first half of fiscal
2014 due to the depreciation of the yen; operating income was ¥20.6 billion, a decrease of 2% due to a decreasein the profit of domestic business.

(Note) The amounts for segment results include inter-segment transactions that are eliminated in calculating theconsolidated results.

3

Bridgestone Corporation (5108)

First half results of fiscal 2015

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

(Assets)
In assets, while investments in securities increased ¥18.4 billion, notes and accounts receivable, raw materials
and supplies, and other in current assets decreased ¥65.3 billion, ¥10.0 billion, and ¥10.6 billion respectively. As aresult, assets decreased ¥74.5 billion compared with the end of the previous fiscal year, to ¥3,886.3 billion.

(Liabilities)
In liabilities, while income taxes payable increased ¥0.7 billion, accounts payable-other and long-termborrowings decreased ¥69.2 billion and ¥49.4 billion respectively. As a result, liabilities decreased ¥168.2 billion
compared with the end of the previous fiscal year, to ¥1,645.9 billion.

(Net assets)
In net assets, cash dividends paid were ¥46.9 billion and foreign currency translation adjustments decreased¥20.8 billion, while net income was ¥144.6 billion and net unrealized gain on available-for-sale securities increased¥25.8 billion. As a result, net assets increased ¥93.7 billion compared with the end of the previous fiscal year, to¥2,240.3 billion.
Consequently, the ratio of total equity to total assets increased 3.3% compared with the end of the previous
fiscal year, to 55.7%.

4

Bridgestone Corporation (5108)

First half 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

320.0

300.5

19.4

6

Net sales

Exchange
Rate

Yen

Yen

%

yen/dollar

120

106

13

yen/euro

132

140

－

(6)

2) Revision of the projections
Actual results of operating income, ordinary income, and net income for the first half of the fiscal year
ending December 31, 2015, exceeded the projections previously announced on February 17, 2015. This
increase was the result of the favorable price of raw material and feedstock and initiatives to reduce expenses.
Additionally, the Company reviewed its consolidated financial projections for the second half of the fiscal year
ending December 31, 2015, which were not updated on May 11, 2015, and revised its full-year consolidated
financial projections for the fiscal year ending December 31, 2015.

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.

5

Bridgestone Corporation (5108)

First half 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 half of fiscal 2015, the effect of the accounting change inretirement 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 half of fiscal 2015. The effect of this change on operating
income, ordinary income and income before income taxes and minority interests for the first half of fiscal
2015 was immaterial.

6

Bridgestone Corporation (5108)

First half 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 1H(As of June 30,2015)

AssetsCurrent Assets
Cash and deposits

390,444398,856

Notes and accounts receivable

541,866

476,471

Short-term investments

149,239

143,669

Merchandise and finished products

388,393406,662

Work in process

38,308
1,935

40,147
1,935

Raw materials and supplies

170,834
214

160,753
214

Other209,992
3,134

199,335

Allowance for doubtful accounts(11,430)
1,110(11,925)
1,110

Total Current Assets

1,877,649
419)

1,813,970
419)

Fixed Assets

1,274,457

1,274,457

Buildings and structures, net

527,171

536,437

Machinery, equipment and vehicles, net

543,7658,02

538,883
8,029

Other, net

473,238
2,175

462,856
2,175

1,544,174
6,397

1,538,177

71,624
1,076,601

70,783
1,076,601

Investments in securities

288,455
38,654

306,880
38,654

Other

185,520
4,3

162,519

Allowance for doubtful accounts(6,515)
5,076(5,951)
5,076

Total investments and other assets

467,4596)

463,448
6)

Total Fixed Assets

2,083,258
8,726

2,072,409
8,726

Total Assets

3,960,908
1,533,981

3,886,380

2,808,439

2,808,439

Tangible fixed assets

Total tangible fixed assets
Intangible fixed assets
Investments and other assets

7

Bridgestone Corporation (5108)

First half results of fiscal 2015

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

FY 2015 1H(As of June 30,2015)

Liabilities
Current Liabilities
Notes and accounts payable

198,166

193,936

Short-term borrowings

221,478

208,229－

30,000

Lease obligations

7,431

1,146

Income taxes payable

46,48947,225

Provision for recall

7,894

3,439

Accounts payable-other191,240

122,027

Other

303,497299,297

Total Current Liabilities

976,198

905,303

Bonds

120,000

90,000Long-term borrowings

237,948

188,493

6,136

6,130

Net defined benefit liability

314,567

312,438

Other

159,398

143,623

Total Long-term Liabilities

838,051

740,686

1,814,250

1,645,989

Common stock

126,354

126,354

Capital surplus

123,008

123,027

1,842,914

1,921,846

Treasury stock - at cost

(56,367)(56,218)

Total Shareholders’ Equity

2,035,908

2,115,010

Net unrealized gain on
available-for-sale securities

168,172

194,064

Deferred gain(loss) on derivative instruments(2,189)(879)

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

39,10818,271Remeasurements of defined benefit plans
Total Accumulated Other Comprehensive
Income(165,314)(160,284)

39,776

51,172

Stock Acquisition Rights

1,945

2,479

Minority Interests

69,026

71,729Total Net Assets

2,146,657

2,240,390

Total Liabilities and Net Assets

3,960,908

3,886,380

8

Bridgestone Corporation (5108)

First half results of fiscal 2015

(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income
First Half

(Yen in millions)
FY 2014 1H(Six months ended
June 30, 2014)

FY 2015 1H(Six months ended
June 30, 2015)

Net Sales

1,750,259

1,855,494

Cost of Sales

1,088,588

1,130,576

Gross Profit

661,671

724,917

Goods freightage expenses

72,97778,868Advertising and promotion expenses

59,93765,578

Salaries, allowances and bonuses

115,241

133,162

Retirement benefit expenses

9,587

13,252

Depreciation

13,91015,253

Research and development expenses

44,50346,515

Other122,360

134,494

Total selling, general andadministrative expenses

438,518

487,124

Operating Income

223,152

237,792

Interest income

2,484

2,881

Dividend income

6,246

6,120

Other

10,919

9,166

Total non-operating income

19,64918,168Interest expense

7,396

6,216

Foreign currency exchange loss

6,470

4,306

Other

8,970

12,448

Total non-operating expenses

22,83822,971

Ordinary Income

219,963

232,990

Gain on sales of tangible assets

5,210

－

Gain on sales of investment securities

3,316

10,162

Total extraordinary income

Selling, General and Administrative Expenses

Non-operating Income

Non-operating Expenses

Extraordinary Income

8,527

10,162

Income before Income Taxes andMinority Interests

228,491

243,153

Income Taxes

81,84492,755

Income before Minority Interests

146,646

150,398

4,403

5,748

142,243

144,650

Minority Interests
Net Income

9Bridgestone Corporation (5108)

Consolidated Statement of Comprehensive Income
First Half

Income before Minority Interests

First half results of fiscal 2015

(Yen in millions)
FY 2014 1H(Six months ended
June 30, 2014)
146,646

FY 2015 1H(Six months ended
June 30, 2015)
150,398

Other Comprehensive Income (loss)
Unrealized gain (loss) on available-for-salesecurities(32,369)

25,880

Deferred gain on derivative instruments

650

765

Foreign currency translation adjustments(43,616)(19,845)

Remeasurements of defined benefit plans

6,750

5,007

Share of other comprehensive income inaffiliates(1,399)(1,411)

Total other comprehensive income(69,983)

10,39576,663

160,793

Shareholders of Bridgestone Corporation

73,577156,045

Minority Interests

3,085

4,747

Comprehensive Income
Comprehensive income attribute to:10

Bridgestone Corporation (5108)

First half 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 Half (Six months ended June 30, 2014)(Yen in millions)

Diversified

Adjustments

Tires

Total

Consolidated

Products(Note)Net sales:
External customers－

1,467,468

282,791

1,750,259

1,750,259

Inter-segment

1,732

6,062

7,795

(7,795)－

Total

1,469,201

288,853

1,758,054(7,795)1,750,259

202,088

21,060223,1484

223,152

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

FY 2015 First Half (Six months ended June 30, 2015)(Yen in millions)

Diversified

Adjustments

Tires

Total

Consolidated

Products(Note)Net sales:
External customers－

1,552,615

302,878

1,855,494

1,855,494

Inter-segment

2,652

8,782

11,434(11,434)－

Total

1,555,267

311,660

1,866,928(11,434)

1,855,494

217,090

20,699237,7893

237,792

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

11