Bridgestone (5108) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of FY2025 was ¥3,234.9 billion, nearly flat year-over-year, with adjusted operating profit up 4% to ¥368.4 billion and margin improving by 0.6pp to 11.4%.

• Profit attributable to owners of parent was ¥203.5 billion, down 19% year-over-year, mainly due to prior-year asset sales gains and current-year restructuring expenses.

• Cost reduction activities and premium-focused strategies, including Firestone brand revitalization, generated significant savings and margin improvements.

• Aftermarket tire sales expanded in key markets, and commercial B2B solutions saw a 144% year-on-year profit increase in Q3.

• Comprehensive income dropped 61.5% year-over-year, reflecting one-time restructuring and adjustment items.

Financial highlights

• Cumulative revenue through Q3 was ¥3,234.9 billion, down 1% year-over-year; adjusted operating profit was ¥368.4 billion, up 4%, with a margin of 11.4%.

• Net income attributable to owners was ¥203.5 billion, down year-over-year due to prior-year gains on asset sales and current-year rebuilding expenses.

• Free cash flow for Q1–Q3 FY2025 was ¥243.7 billion, up ¥97.8 billion year-over-year.

• Basic earnings per share for the period was ¥302.75, down from ¥369.09 year-over-year.

• Equity ratio at end-Q3 FY2025 was 63.5%, down from 65.2% at year-end 2024.

Outlook and guidance

• FY2025 revenue forecast revised to ¥4,360.0 billion, up 1.6% year-over-year; adjusted operating profit guidance set at ¥490.0 billion, down 3% from previous guidance.

• Profit attributable to owners of parent forecast at ¥253,000 million, down 11.2% year-over-year; dividend per share maintained at ¥230.

• ROIC expected at 8.7–9%, and ROE about 7%.

• Americas and EMEA segments expected to drive profit growth, with EMEA adjusted OP forecast to rise 48% year-over-year.

• U.S. tariffs, macroeconomic headwinds, and cyber incidents are expected to continue impacting results into 2026.