Financial Resultsfor 3ｒｄ Quarter of Fiscal 2015

Bridgestone Corporation
November 9, 2015

Contents

1. Business and Financial Performancefor 3rd Quarter of Fiscal 2015

P. 3

2. Consolidated Projectionsfor 2nd Half of Fiscal 2015

P. 8

Copyright © 2015 Bridgestone Corporation | Nov. 9, 20152

１． Business and Financial Performancefor 3rd Quarter of Fiscal 2015

Business Environment Surrounding◆ Estimated Tire Demand◆ Currency Exchange

Tire Demand for 2015 3rd Quarter : Original Equipment (VS PY)
Passenger
Radial Tires
3Q

Truck and Bus
Radial Tires

9 months

3Q

9 months

Japan

96％

94%

94%

103％

N. America

103％

102%

106%

112％

Europe105％107%106%106％

2014

2015

Q3

Q4

Q1

Q2

Q3

US Dollar

104114

119

121

122

Euro138142

134

134

136

◆ Raw Materials
Tire Demand for 2015 3rd Quarter : Replacement (VS PY)
Passenger
Radial Tires
3Q

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

Truck and Bus
Radial Tires

9 months

3Q

9 months

Japan

103％

97%

102％

95％

N. America

102%

101%

100％

105％

Europe

98%

101%

106％

103％

* The numbers of demand are estimated by Bridgestone Corporation

2015

Q3

Q4

Q1

Q2

Q3

Natural Rubber<TSR20>*(￠/kg)

162

148

142

151

134

Natural Rubber<RSS#3>*(￠/kg)

183

159

172

178

146

97

72

48

57

46

Crude Oil
<WTI>(＄/ｂｂl)*Source : Current Prices for Singapore Commodity Exchange LimitedCopyright © 2015 Bridgestone Corporation | Nov. 9, 20154

Consolidated Results for 3rd Quarter of Fiscal 2015
Yen/US dollar rate:

122+18121+18120

120

Yen/Euro rate:(Yen in billions)

136

(2)

135(5)

130

132

2015
3rd Quarter
Results

VS PY
(%)

2015
9 Months
Results

VS PY(%)

2015 2nd Half
Projections

2015 FYProjections

Net Sales

961.8

+5

2,817.3+62,044.5

3,900.0

Tires

803.1

+52,358.4+6

1,704.7

3,260.0

Diversified
Products

162.7+6474.3+7348.3

660.0

140.8

+18378.6+11286.2

524.0（Ratio）
14.6%（Ratio）+1.6%（Ratio）
13.4%（Ratio）+0.6.%（Ratio）
14.0%（Ratio）
13.4%

128.8

+19345.9+11252.9

470.0

12.0

+1132.7+332.3

53.0

132.6

+11365.6+8273.0

506.0

Extraordinary
Loss (Gain)

38.8＋28.7＋Net Income

50.4

（40）

195.1

（14）

175.3

320.0

Operating
IncomeTires
Diversified
Products
Ordinary
Income（Ref. Aug. 7, 2015 announcement）* Figures within parentheses mean minus
Copyright © 2015 Bridgestone Corporation | Nov. 9, 2015

5

Analysis of Consolidated Operating Income for 3rd Quarter of Fiscal 2015
(Yen in billions)
150
140

ForeignExch. Gain
+18.0

130
120
110
100

119.3

90

Price, Mix,
Volume etc.
(16.5)

Depreciation(1.0)

StrategicProducts+3.0

Raw
Materials
+22.0

140.8

SGA
(4.0)

80

2014 3rd Quarter
Operating Income(Yen in billions)
410
380
350

2015 3rd Quarter
Operating Income+21.5
Exchange rate
Sensitivity (full year)

Price, Mix,
Volume etc.
(92.9)

USD：3.8bil. Yen
EUR：0.5bil. Yen320290
260

342.4

SGA(13.0)

Depreciation(2.0)

StrategicProducts+5.0230

ForeignExch. Gain
+53.0
Raw
Materials+86.0

378.6200

2014 9 months
Operating Income* Figures within parentheses mean minus+36.1

2015 9 months
Operating Income
Copyright © 2015 Bridgestone Corporation | Nov. 9, 2015

6

Financial Results for 3rd Quarter of Fiscal 2015 : Geographic Segments(Yen in billions)2015
3rd Quarter
Results

VS PY(％)

2015
9 MonthResults

VS PYJapan

279.0（4）

856.3

（4）

The Americas

512.7+121470.9+14Europe

108.8（1）320.2（4）Other Regions

210.7（2）637.4+2Consolidated
Net Sales

961.8+52,817.3+6Japan

45.1（1）138.6－The Americas

61.9+31170.8+30Europe

8.1+216.6（3）Other Regions

20.8+354.3+1

Consolidated
Operating Income

140.8+18378.6+11(％)* Figures within parentheses mean minus
Copyright © 2015 Bridgestone Corporation | Nov. 9, 20157

２． Consolidated Projectionsfor 2nd Half of Fiscal 2015

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

Tire Demand for 2015 2nd Half :Original Equipment (VS PY)
PassengerRadial Tires

201499％95％

N. America

103％

100％

Europe102％99％Tire Demand for 2015 2nd Half :Replacement (VS PY)
Passenger
Radial Tires（Ref. Aug. 7,2015announcement）
2015 2nd Half
Projections

1stHalf

2ndHalfFullYear

1stHalf

1stHalf

US Dollar

102

109

106

120

121

120

Euro

140

140

140

134

133

130

Truck and Bus
Radial Tires

Japan2015◆ Raw Materials
Truck and Bus
Radial Tires

Japan

100％

104％

N. America

101％

101％

Europe96％

102％* The numbers of demand are estimated by Bridgestone Corporation* Source : Current Prices for Singapore Commodity Exchange Limited
Copyright © 2015 Bridgestone Corporation | Nov. 9, 20159Highlights
2015 3rd Quarter Actual(”projection”: released at Aug. 7th)
Tire sales
volume- Ultra-large & Large ORR : Same level as PY- PSR & TBR : Increased from PY

Selling Price/Raw Material- Lower raw material cost > Lower selling price impact

SGA- Slightly increased from PY due to effective and strategic spending

Consolidated
Financialresults- Net sales: Higher than PY, mainly due to exchange rate
- Operating income : Increased from PY without favorable Forex impact
Better GP supported by lower RM cost
- Extraordinary loss : 42.3 Bil. from the deconsolidation ofVenezuelan subsidiaries

Consolidated
Projections inFY

- Net sales & Operating income : Unchanged from Aug. projection- Net income : Changed from 320 Bil. to 285 Bil. due toExtraordinary loss from above deconsolidation
Copyright © 2015 Bridgestone Corporation | Nov. 9, 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'sassumptions 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.