Bridgestone finalizes sale of synthetic rubber subsidiary to LCY Chemical

Tokyo, Japan – Bridgestone Corporation (Bridgestone) announced that it has completed selling all shares of stock of Bridgestone (Huizhou) Synthetic Rubber Co., Ltd. (BSRC), its subsidiary in China manufacturing synthetic rubber for passenger car tires, to LCY Chemical Corporation on December 1, 2021, after getting regulatory approvals and satisfying other customary conditions. Its sale value is not disclosed. The sales has been announced on June 15, 20211, and it was planned to be completed before December 14, 2021. The initiative is a part of the company’s global expense and cost structure review established in the Mid Term Business Plan (2021-2023), announced on February 16, 20212. The Mid Term Business Plan aims to strengthen Bridgestone’s business portfolio management, allowing the company to adapt quickly to changing business conditions, while rebuilding the company’s earning power of its core business through expense and cost structure reformation and enforcing the premium business strategy as a basis, and enhancing strategic growth investments.

The Bridgestone Group will reinforce its portfolio management in line with the changing business environment, to evolve to a sustainable solutions company which aims to continuously provide social value and customer value. Bridgestone expects the impact on its consolidated financial results for 2021 to be minor.