Bridgestone : Consolidated Financial Statements for 1H 2023 (393 KB)

Consolidated Financial Statements

for the First Half of the Fiscal Year Ending December 31, 2023

August 9, 2023

These financial statements, prepared in accordance with International Financial Reporting Standards (IFRS), have been translated for reference only from the original Japanese-language document "KESSAN TANSHIN." The entire format is pursuant to the requirements or guidance of Tokyo Stock Exchange. As for the contents, if there are any differences or discrepancies between the original Japanese-language and the English translation, the original Japanese-language supersedes this English translation.

Company name:	Bridgestone Corporation	Stock exchange listings: Tokyo, Fukuoka
Code number:	5108	URL: https://www.bridgestone.com/
Representative:	Shuichi Ishibashi, Member of the Board
	Global CEO and Representative Executive Officer
Contact:	Kazuchika Higuchi, General Manager, IR Department
Telephone:	[phone]

Scheduled date of quarterly securities report submission: August 9, 2023

Scheduled date of dividend payment commencement: September 1, 2023

Supplementary information for the quarterly financial statements to be prepared: Yes

Meeting to explain the quarterly financial statements to be held: Yes

(All amounts are rounded off the nearest million yen)

1. Consolidated Results for the First Half of FY2023 (January 1, 2023 - June 30, 2023)

(1) Consolidated Operating Results				(Percentage figures represent year-on-year changes)
				Figures for continuing operations (Note 2)
	Revenue		Adjusted operating	Operating profit	Profit attributable to
		profit (Note 1)	owners of parent
	Yen in millions		%	Yen in millions		%	Yen in millions	%	Yen in millions	%
Six months ended June	2,101,706		11.4	238,302		15.3	250,620	44.0	183,298	55.9
30, 2023
Six months ended June	1,886,341		24.9	206,631		13.3	173,992	(1.4)	117,599	(10.5)
30, 2022
				Figures including discontinued operations
	Profit attributable to	Comprehensive	Basic earnings	Diluted earnings
	owners of parent	income		per share	per share
	Yen in millions		%	Yen in millions		%		Yen		Yen
Six months ended June	182,643		96.5	424,963		(2.3)		266.85		266.51
30, 2023
Six months ended June	92,942		(73.6)	435,180		(8.9)		132.70		132.52
30, 2022

(Notes) 1. The Group utilizes "adjusted operating profit" in place of the previously employed J-GAAP-based operating profit. For details on reconciliations, please refer to page 11, "Reconciliation from adjusted operating profit to profit before tax" under "1. Condensed Quarterly Consolidated Financial Statements and Primary Notes (6) Notes to the Condensed Quarterly Consolidated Financial Statements."

1. 2. The Group classified the US building materials business, anti-vibration rubber business, and chemical products solutions business as discontinued operations, thereby deducting such discontinued operations from monetary amounts of the six months ended June 30, 2022 and six months ended June 30, 2023.

   For details on discontinued operations, please refer to page 15, "Discontinued operations" under "1. Condensed Quarterly Consolidated Financial Statements and Primary Notes (6) Notes to the Condensed Quarterly Consolidated Financial Statements."

2. Consolidated Financial Position

				Total equity	Ratio of equity
				attributable to owners
		Total assets	Total equity	attributable to owners
		of parent to total
				of parent
				assets
		Yen in millions	Yen in millions	Yen in millions	%
As of June 30, 2023	5,391,333	3,373,575	3,323,647	61.6
As of December 31, 2022	4,962,203	3,012,501	2,965,835	59.8
(Note)
(Note)	Due to the retrospective application of IAS 12 "Income Taxes," the figures for the previous fiscal year are those
after the retrospective application.

2. Dividends

			Dividend per share
	1st quarter end	2nd quarter end		3rd quarter end	Year-end	Total
	Yen	Yen		Yen	Yen	Yen
FY2022	-	85.00		-	90.00	175.00
FY2023	-	100.00
FY2023				-	100.00	200.00
(Projection)
(Note) Changes from the latest forecasts released: No

3. Consolidated Financial Results Forecasts for FY2023 (January 1, 2023 - December 31, 2023)

(Percentage figures represent year-on-year changes)

	Figures for continuing operations		Figures including discontinued operations
	Revenue		Adjusted operating	Profit attributable to	Basic earnings per
		profit		owners of parent	share
	Yen in millions		%	Yen in millions		%	Yen in millions	%	Yen
FY2023	4,150,000		1.0	510,000		5.7	335,000	11.6	489.52

(Note) Changes from the latest forecasts released: No

IAS 12 "Income Taxes" was applied retrospectively, and the year-on-year changes presented are for the comparison with the figures for FY2022 after the retrospective application.

Amounts for profit attributable to owners of parent, and basic earnings per share for continuing operations only

are as follows:	¥340,000 million
⚫	Profit attributable to owners of parent:
⚫	Basic earnings per share:	¥496.82

*Notes

1. Changes in principal subsidiaries during the six months ended June 30, 2023: Yes

(Changes in specified subsidiaries involving change in consolidation scope)
Newly included:	None
Excluded:	1 company (Bridgestone (Huizhou) Tire Co., Ltd.)
(2) Changes in accounting policies and changes in accounting estimates
1)	Changes in accounting policies required by IFRS	: Yes
2)	Changes in accounting policies other than 1)	: No
3)	Changes in accounting estimates	: No

1. • For details, please refer to page 11, "Changes in accounting policies" under "1. Condensed Quarterly Consolidated Financial Statements and Primary Notes (6) Notes to the Condensed Quarterly Consolidated Financial Statements."
2. Number of issued shares (common stock)

1) Total number of issued shares at period end (including treasury stock):

June 30, 2023	713,698,221 shares
December 31, 2022	713,698,221 shares
2) Number of shares of treasury stock at period end:
June 30, 2023	29,083,511 shares
December 31, 2022	29,348,738 shares

3) Average number of shares outstanding during the period (during the first half):

First Half ended June 30, 2023	684,443,923 shares
First Half ended June 30, 2022	700,372,256 shares

• Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation

* Statement regarding appropriate use of forward-looking statements and other notes

Forecasts based on our projections and plans for the future in this document contain unpredictable elements that may cause fluctuations. As such, they do not constitute guarantees by the Company of the achievement of those forecasts. Accordingly, actual business results may differ substantially from the Company's current assessment.

Bridgestone Corporation (5108) Second Quarter Results of FY2023

[ Index ]
1. Condensed Quarterly Consolidated Financial Statements and Primary Notes	...................................... 2
(1)	Condensed Quarterly Consolidated Statement of Financial Position	2
(2)	Condensed Quarterly Consolidated Statement of Profit or Loss	4
(3)	Condensed Quarterly Consolidated Statement of Comprehensive Income	5
(4)	Condensed Quarterly Consolidated Statement of Changes in Equity	6
(5)	Condensed Quarterly Consolidated Statement of Cash Flows	9
(6)	Notes to the Condensed Quarterly Consolidated Financial Statements	11
	(Notes regarding going concern assumption)	11
	(Changes in accounting policies)	11
	(Reconciliation from adjusted operating profit to profit before tax)	11
	(Impairment of non-financialassets)	12
	(Selling, general and administrative expenses)	13
	(Other income and other expenses)	13
	(Finance income and finance costs)	14
	(Discontinued operations)	15
	(Subsequent events)	17

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Bridgestone Corporation (5108) Second Quarter Results of FY2023

1. Condensed Quarterly Consolidated Financial Statements and Primary Notes

1. Condensed Quarterly Consolidated Statement of Financial Position

	As of		As of
	December 31, 2022		June 30, 2023
	Millions of yen		Millions of yen
Assets
Current assets
Cash and cash equivalents	518,905	609,521
Trade and other receivables	946,608	1,003,005
Inventories	885,305	988,079
Other financial assets	15,107	16,393
Other current assets	118,031	131,973
Subtotal	2,483,956	2,748,972
Assets held for sale	28,694	6,437
Total current assets	2,512,650	2,755,409
Non-current assets
Property, plant and equipment	1,556,665	1,677,052
Right-of-use assets	301,278	314,871
Goodwill	136,406	150,813
Intangible assets	159,920	178,269
Investments accounted for using equity	38,894	31,153
method
Other financial assets	104,509	123,080
Deferred tax assets	82,010	104,103
Other non-current assets	69,871	56,585
Total non-current assets	2,449,553	2,635,924
Total assets	4,962,203	5,391,333

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