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    5108   JP3830800003

BRIDGESTONE CORPORATION

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Bridgestone : Announces Expansion of Renewable Electricity Use at Four Domestic Tire Plants as Part of the Global Sustainability Business Framework

07/08/2021 | 11:36am EDT

Bridgestone has switched 100% of the electricity sourced from outside providers to renewable energy to power four domestic tire plants in Japan - in Hikone, Tosu, Shimonoseki, and Kitakyushu.

Changing energy source is expecting to generate a 30% reduction in annual total CO2 emissions from all 10 domestic tire plants in Japan when compared to 2011, and to increase the ratio of renewable electricity at domestic tire production plants to be approximately 42%.

Bridgestone accelerated its initiatives to contribute towards the realization of a carbon neutral society with its Sustainability Business Framework through the implementation of its Mid Term Business Plan (2021-2023).

Tokyo (July 8, 2021) -- Bridgestone Corporation (Bridgestone) today announced that it has switched all the electricity sourced from external sources*1 to renewable energy including hydro, geothermal, solar, and wind energy to power four domestic tire plants in Japan - in Hikone, Tosu, Shimonoseki, and Kitakyushu.

The first plant to adopt renewable energy to power manufacturing operations was the Hikone Plant, on June 1. The other three plants made the change on July 1, 2021. This change of energy source is expected to reduce approximately 11 points in annual CO2 emissions produced by Bridgestone domestic tire plants, and the total reductions of CO2 emission including initiatives done by 2020 will be approximately 30% when compared to 2011. The ratio of renewable electricity at domestic tire plants will be increased to approximately 42%*2. Bridgestone will continue to reduce CO2 emissions by expanding renewable energy use, improving tire production energy efficiency, and installing new solar power generation systems in all the domestic tire factories through 2030.

Plant	Main Products	Date of Transition
Hikone Plant		Radial tires for passenger cars and light trucks	June 1, 2021
Tosu Plant		Radial tires for passenger cars, including ultra-low aspect ratio tires for high-performance vehicles	July 1, 2021
Shimonoseki Plant	Radial and bias tires for mining and construction vehicles	July 1, 2021
Kitakyushu Plant	Radial tires for mining and construction vehicles	July 1, 2021

Bridgestone Group is moving ahead with Sustainability Business Framework through the implementation of its Mid Term Business Plan (2021 - 2023)*3 that aims to realize its vision to provide social value and customer value as a sustainable solutions company toward 2050. The Sustainability Business Framework is designed to contribute to realizing resource circulation, CO2 reduction, a circular economy and carbon neutrality throughout its businesses.

In addition, the Group's long-term environmental target established a goal to reach a carbon neutral state by 2050, while its Milestone 2030*4 medium-term environmental targets include a 50% reduction in CO2 emissions by 2030 when compared to 2011. As an example of the Group's sustainability initiatives, European subsidiary Bridgestone Europe NV/SA recently completed the switch to renewable energy as the source of power for all of its business sites in Europe in March 2021. In addition, solar power generation facilities are being installed at plants such as the one in Aiken, South Carolina in the United States and in Wuxi in China. Through these and other efforts, the Group is aiming to increase the percentage of renewable energy used to power its operations from the current level of approximately 12%, to 50% by 2023.

Relevant Links:

Bridgestone Announces Sustainability Business Framework

100% of Electricity Consumed in Bridgestone's European Locations Now Comes from Renewable Sources

First Ground Solar Array Providing Power Directly to the Manufacturing Process at the Plant Located in Aiken County, South Carolina, in the U.S.

*1 Electricity generated through cogeneration systems (in-house generation systems that effectively utilize electricity and heat) is not included. We plan to switch to renewable energy for additional electricity purchased to compensate when power from in-house cogeneration systems is insufficient.

*2 Calculated by 'fuel consumption + purchased electricity + purchased steam + solar power generation, etc. - electricity sold'

*3 For more information on Bridgestone Group's Mid Term Business Plan, please refer to the presentation materials available on the global website.

https://www.bridgestone.com/ir/library/strategy/index.html

*4 For more information on Bridgestone Group's Milestone 2030 targets, please refer to the global website. https://www.bridgestone.com/responsibilities/environment/

About Bridgestone Corporation:

Headquartered in Tokyo, Bridgestone Corporation is a world leader in tire and rubber, evolving into a sustainable solutions company. With a business presence in more than 150 countries worldwide, Bridgestone offers a diverse portfolio of original equipment and replacement tires, tire-centric solutions, mobility solutions, and other rubber-associated and diversified products that deliver social and customer value. Guided by its global corporate social responsibility commitment, Our Way to Serve, Bridgestone is dedicated to shaping a sustainable future of mobility and improving the way people around the world move, live, work and play.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Sales 2021 3 319 B 30 205 M 30 205 M
Net income 2021 320 B 2 912 M 2 912 M
Net cash 2021 189 B 1 716 M 1 716 M
P/E ratio 2021 11,5x
Yield 2021 3,07%
Capitalization 3 689 B 33 669 M 33 577 M
EV / Sales 2021 1,05x
EV / Sales 2022 0,98x
Nbr of Employees 138 036
Free-Float 79,6%
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Shuichi Ishibashi Chief Executive Officer & Director
Akihiro Eto President, Chief Operating Officer & Director
Masaaki Tsuya Chairman
Masato Sakano Chief Technology Officer
Scott Trevor Davis Independent Outside Director
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