Bridgestone to consolidate its plants for automotive seat pads

Tokyo, Japan – Bridgestone Corporation announced that it will consolidate its plants for automotive seat pads in Japan, which are now manufactured in 4 plants
owned by its group companies, out of which 3 plants owned by Bridgestone Chemitech Co., Ltd. (BSCT), and 1 plant owned by Bridgestone Diversified Chemical Products Co., Ltd. (BDCP). 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, 2021. 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.

Bridgestone has discussed and implemented its restructuring of diversified products business based on Mid Term Business Plan (2021-2023). The company has thoroughly evaluated the future of automotive seat pads business and determined the consolidation of plants will contribute to the reinforcement of the business structure.

The employees of BSCT Ageo Plant are highly skilled and experienced and Bridgestone is expecting all current employees to continue to work as members of BSCT.

Bridgestone is also working closely with customers, suppliers, and the communities in the region to minimize the impact in the community, as much as possible.
Bridgestone expects the impact on its consolidated financial results for 2021 to be minor.