Release of Bridgestone 3.0 Journey 2023 Integrated Report
• The report outlines how Bridgestone is accelerating transformation toward its vision to be a sustainable solutions company and enhancing corporate value over medium to long term.
• Update of Bridgestone’s effort to evolve its Sustainability Business Model which is integrated with business strategy to be a regenerative toward a nature-positive world where it can help stop and reverse the loss of natural ecosystems.
Tokyo, Japan (June 30, 2023) — Bridgestone Corporation announced today that it has released its latest integrated report — Bridgestone 3.0 Journey 2023 Integrated Report — and made this report available on its corporate website.*1 This report provides comprehensive and better understanding of Bridgestone’s approach and initiatives aimed at enhancing corporate value over the medium to long term.
Bridgestone 3.0 Journey 2023 Integrated Report*4
Who we are
• Mission, Corporate Philosophy and Vision
• Our History of Taking on Challenges and the Bridgestone DNA
Where we are going
• Global CEO Commitment
• Bridgestone E8 Commitment*2
How we get there
• 2030 Long Term Strategic Aspiration*3
• Mid Term Business Plan (2021-2023) Progress Update
• Business Strategy and Progress
• Sustainability Business Model
• Highlights of ESG Activities
• Financial / Non-Financial Data
Under its unchanging mission of “Serving Society with Superior Quality,” in 2020 which was the first year of its “third foundation” or Bridgestone 3.0, Bridgestone has set forth a vision－“Toward 2050, Bridgestone continues to provide social value and customer value as a sustainable solutions company”－and is promoting a transformation to realize this vison.
The Bridgestone 3.0 Journey 2023 Integrated Report outlines the results of Bridgestone’s efforts since 2020 and the progress of its transformation aligned with the “2030 Long Term Strategic Aspiration”－the roadmap toward its 100th anniversary in 2031, putting emphasis on clearly conveying its approach to create value with its employees, society, partners, and customers with the “Bridgestone E8 Commitment” as the axis.
“Through this year’s report, by sharing with you the path on which we are advancing, we hope you will join us on our journey to realize and support a sustainable society while creating new value,” said Shu ISHIBASHI, Bridgestone Global CEO. “Even in times when “change is becoming commonplace” we will transform change to opportunity, unperturbed by continuous change and remaining robust and flexible like rubber. With our passion to continue supporting the mobility of people and objects, Bridgestone will continue to accelerate our transformation to a resilient “excellent” Bridgestone.”
The following is an overview of the topics, key points, and activity progress*5 reported on in Bridgestone 3.0 Journey 2023 Integrated Report.
Who we are
• Bridgestone’s foundation for its transformation toward the future: Its history, its journey of taking on challenges, and the Bridgestone DNA－"focus on quality”, "respect for being on-site”, “being attentive and supportive customer problems“ and championing a "challenging spirit”－which shaped and refined through them.
Where we are going
• Bridgestone’s commitment toward realizing a sustainable society with the “Bridgestone E8 Commitment” and “2030 Long Term Strategic Aspiration” as the axis, detailed through “Global CEO Commitment” in the report.
How we get there
• Progress update of Mid Term Business Plan (2021-2023) that 2023 is the final year, and the planning process update for Mid Term Business Plan (2024-2026) which will be the important phase in evolving to the next stage. Both are aligned with “2030 Long Term Strategic Aspiration” as a roadmap guiding us through an era when “change is becoming commonplace.”
• Update of Bridgestone’s effort to evolve its unique Sustainability Business Model which realizes carbon neutrality and a circular economy across its value chain from “produce and sell” and “use” of tires to “renew” tires to raw materials, upgrading toward a regenerative business model to achieve a nature-positive world where it can help stop and reverse the loss of natural ecosystems.
• Business strategy and progress update of premium tire business including the value creation through the fusion of ENLITEN®, which is the base technology for product design as the core for Bridgestone’s unique “new premium”, and BCMA (Bridgestone Commonality Modularity Architecture), which is the base technology for manufacturing and R&D.
• Business strategy and progress update of solutions business including the enhancement of Bridgestone’s retail and service solutions network with combining strong real and digital capabilities, reinforcement of tire-centric solutions such as retread, and promotion of mobility solutions around digital fleet operation management, co-creation with digital partners and integration of its solutions organizations in Europe and North America, which are advanced regions for mobility.
• Update of Bridgestone motorsport activities, celebrating 60th anniversary since its start, evolves as a sustainable global motorsport, to build a sustainable global premium brand as new brand power through the motorsport.
• Update of the sources of value creation; technology and innovation, talent strategy including talent creativity enhancement, intellectual property strategy, and response to global management risk.
Highlights of ESG activities:
• Bridgestone’s approach and activities of being in harmony with nature, responses to the Task Force on Climate-related Financial Disclosures (TCFD) and the Task Force on Nature-related Financial Disclosures (TNFD).
• Its various initiatives with the aim of creating a society that is safe, secure, and ensures accessibility and dignity for all, while proactively responding to the expectations of society and stakeholders.
• Its activities related to governance, with messages from the Chairperson of the Board of Directors and the Chairperson of the statutory committees, highlighting the effectiveness of the Board of Directors in enhancing the organizational resilience.
*1 Bridgestone 3.0 Journey 2023 Integrated Report is available on its corporate website.
*2 Bridgestone established its corporate commitment, the “Bridgestone E8 Commitment” to realize its vision: “Toward 2050, Bridgestone continues to provide social value and customer value as a sustainable solutions company.” This commitment will serve as the axis to drive management while earning the trust of future generations. The “Bridgestone E8 Commitment” consists of 8 Bridgestone-like values starting with the letter “E” (Energy, Ecology, Efficiency, Extension, Economy, Emotion, Ease, and Empowerment) that it will commit to creating through Bridgestone-like “purpose“ and “process”, together with employees, society, its partners and customers to realize a sustainable society.
*3 2030 Long Term Strategic Aspiration
*4 The front cover design is a representative work of “Bridgestone Design”. Commemorating the 60th anniversary of Bridgestone’s motorsport activities, its starting point as a tire manufacturer, speed, and strength, which are key functions of motorsport tires, are expressed through the beauty of the “circle”.
*5 The report covers the period spanning from January 1, 2022, to December 31, 2022 (some activities before or after the period also have been included.)
About Bridgestone Corporation:
Bridgestone is a global leader in tires and rubber building on its expertise to provide solutions for safe and sustainable mobility. Headquartered in Tokyo, the company employs approximately 130,000 people globally and conducts business in more than 150 countries and territories worldwide. Bridgestone offers a diverse product portfolio of premium tires and advanced solutions backed by innovative technologies, improving the way people around the world move, live, work and play.