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Bridgestone Corporate Profile

Bridgestone Corporate Profile

Bridgestone Corporation

 Moody's Rated: Investment Grade A2


Current Annual Revenue:
$3.48 billion*
Current Operating Income: $4.27 billion
Current Annual Net Income: $1.97 billion
2013 Fiscal Yr. Revenue Growth: 17.8%

The Bridgestone Corporation (TYO: 5108, OTC Pink: BRDCY) is an international manufacturer of car and truck parts based in Japan. Bridgestone has 47 tire plants, 29 tire-related plants, 19 raw materials plants, 89 diversified product plants, 4 technical centers, and 11 proving grounds throughout the world as of April 2011. It was founded in 1931 to rely solely on Japanese technology for tire production. This mission led to significant technological innovation and advancements in production and sales. Bridgestone went public in 1961 and expanded globally. It acquired Firestone Tire and Rubber Company in 1988, and invested significant financial and human resources into rehabilitating the company. Throughout 1992--1993, Bridgestone surpassed its projected earnings by developing its European and North American subsidiaries. In 1995, Bridgestone began research and development of Formula One tires. Between 1998 and 2006, Bridgestone users have taken five Drivers' championship titles and five Constructors' championship titles. In 2006, Bridgestone became the exclusive supplier of tires for the Formula One World Championship. In 2009 it announced its withdrawal from this role. Today Bridgestone manufactures tires for typical cars, sports cars, race cars, motorcycles, and aircraft, as well as automotive components, a broad range of industrial products, polyurethane foam products, construction materials, parts and materials for electronic equipment, bicycles, and sporting goods. The company adapted to the recession through the strategic acquisition of Bandag, Inc., which re-treads truck tires, enabling consumers to cut costs. Note that leases to subsidiary companies may have the implied backing of a parent company, however such is not typically expressed.

*Translated from yen, for convenience only, at the rate of $1 = ¥102.57, the approximate rate of exchange prevailing on April 29th, 2014.

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