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By TT News| Nov 29, 2021

Bridgestone To Implement Changes To Its Plants In Japan

As part of its mid-term business plan (2021-2023), Bridgestone Corporation has started the consolidation of its plants for advanced chemical products in Japan.

Currently, the company is manufacturing advanced chemical products out of nine plants owned by its group company, Bridgestone Diversified Chemical Products Company Ltd (BDCP). Post the consolidation, Bridgestone will manufacture advanced chemical products in japan at six plants, including Kita-Kanto, Totsuka, Komaki, Mie, Yoshida and Tosu.

The closure of the three plants in Shikoku, Gifu and Gotemba is planned in a phased manner from Q3 2022 to Q2 2023.

The mid-term business plan aims to rebuild the earning power of Bridgestone through expense and cost structure reformation. The plan also enforces a premium business strategy to allow the company to enhance strategic growth investment and help it adapt better to the changing business environment.

The closure of three plants in Japan will result in 83 job cuts, but Bridgestone is expecting all current employees to continue to work as members of BDCP. Bridgestone is also working closely with customers, suppliers and local communities to minimise the impact as much as possible. The company expects the impact on its consolidated financial results for 2021 to be minor. (TT)

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