Tokyo (October 27, 2023) ― Bridgestone Corporation (Bridgestone) announced today that it is consolidating its tire manufacturing operations in Thailand.

Bridgestone reorganized its tire plants in Thailand, as indicated in the table below, and ceased tire manufacturing operations at the Rangsit plant of THAI BRIDGESTONE CO., LTD. (TBSC) as part of its efforts to "rebuild earning power" in the Mid-term Business Plan (2021-2023) and maintain "Dan-totsu No. 1"^*1 in the industry, leveraging the wealth of assets we have accumulated during our extensive history in Thailand.

The consolidation overview is as follows.

Bridgestone has thoroughly and comprehensively considered various factors, including the impact on local communities, and has examined the optimal supply structure to secure a competitive advantage. Consequently, the company has made the decision to cease its tire manufacturing operations at the Rangsit plant and consolidate production at other sites. The Company would like to express its sincere gratitude to the employees and the supportive local community of the Rangsit Plant, which is the groundbreaking base of Bridgestone's tire business in Thailand. To minimize the impact on the employees and local communities affected by the cessation of tire manufacturing operations at the Rangsit plant, the company is taking appropriate measures in accordance with local laws and regulations, as well as labor agreements.

Bridgestone has continuously optimized its tire manufacturing operations, which constitute its core business, to meet the needs of society and customers throughout its 90-year history since its founding. In the Mid-Term Business Plan (2024-2026), scheduled to be announced in March 2024, the company will define the roles and responsibilities of its new tire plants worldwide and strengthen its framework to "produce" premium products. Subsequently, the company will progress to the next stage of establishing a new optimal global SCM^*2.

Drawing from its corporate commitment, "Bridgestone E8 Commitment,"*3 which serves as its axis to drive management while earning the trust of future generations, Bridgestone will accelerate its transformation to realize its vision: "Toward 2050, Bridgestone continues to provide social value and customer value as a sustainable solutions company."

<The outline of the Rangsit plant>

1. "Dan-Totsu" refers to Bridgestone's direction to be the clear and absolute leader.
2. SCM: Supply Chain Management
3. Bridgestone E8 Commitment
   The Bridgestone established its corporate commitment, the "Bridgestone E8 Commitment," to help it 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 Group's axis to drive management while earning the trust of future generations. The "Bridgestone E8 Commitment" consists of eight uniquely Bridgestone values starting with the letter "E" (Energy, Ecology, Efficiency, Extension, Economy, Emotion, Ease, and Empowerment) that the Group will commit to creating through distinctly Bridgestone purposes and processes, together with employees, society, partners, and customers to help realize a sustainable society.
   https://www.bridgestone.com/corporate/news/pdf/2022030101.pdf