Bridgestone Corporation today announced the outline of the company’s Mid-term Management Plan for 2015 (2015MTP) covering 5 years from 2016 to 2020. In support of its goals to become a truly global company and achieve “Dan-Totsu” in each industry in which it competes, the 2015MTP will serve as a roadmap and process guide as the Bridgestone Group accelerates the pace of its management reforms and increases its focus on the strategic measures outlined in the 2015MTP.
The following is an overview of the 2015MTP.
1. Positioning of the 2015MTP
Period: 5-years (2016-2020)
2015MTP reflects changes in the operating environment since the formulation of the 2014MTP, and incorporates revisions to that plan, as well as additional strategies and actions as deemed necessary to respond to those changes.
2. Outline of the 2015MTP
In the 2015 MTP, the Bridgestone Group continues its focus on the three issues that have been its priority since the 2013MTP: (1) Cultivating global corporate culture, (2) Developing human resources capable of global management, and (3) Upgrading the global management structure.
|Priority issues||Examples of 2015 initiatives|
|(1) Cultivating global corporate culture|
|A. Clarify brand strategy||· Accelerate global acceptance / awareness / value of B mark|
– Global company advertisement etc.· Official Worldwide Olympic Partner
– June, 2015 Define Key Message and Compsit Logo
|B. Technology & Business model innovation||· Evolving the R&D structure– Announced on Oct 16, 2015 :Bridgestone to Reorganize R&D and Manufacturing Base in Kodaira City, Tokyo· Solution businesses|
– Announced on Oct 16, 2015 :Establishment of Solutions Business Companies for Mining and Agricultural Machinery
|C. Continuous Kaizen||· In each & every area of business : Continuous improvement– Sep, 2015 :Bridgestone Group & Global TQM Conference|
|(2) Developing human resources capable of global management||· Global EXCO- Highest body of global business execution whose membership is drawn from across the enterprise.|
|(3) Upgrading the global management structure|
|A. Enhancing governance systems||· Organization design– Oct 14, 2015 :Bridgestone to adopt the new corporate governance structure|
|B. Restructuring the Tire business SBUs||· Integrated the six regional SBUs originally established in 2006 into four- Sep, 2015 :Europe SBU + Middle East, Africa, Turkey|
|C. Expanding the Diversified Products businesses||· Globalization– July, 2015 :Bridgestone Concludes Agreement for Joint Venture for Manufacturing of Anti-Vibration Rubber Products for Automobiles in Indonesia– July, 2015 :Bridgestone Commences Production of Conveyor Belts in Thailand|
· Environment- Sep, 2015 :New Product Launch of Hydrogen fuelling hose
· Infrastructure- Aug, 2015 :Opening of “Menshin-Kan” (the technical museum for seismic isolation bearings)
3. 2015MTP management targets
Qualitative goal : Secure both growth and profitability, Consistency & Sustainability
Quantitative goal : Continuous Kaizen carefully balanced with a focus on quality
– Growth exceeding the industry average
– Return on Asset (ROA) of 6%, Operating Profit (OP) of 10% and Return on Equity (ROE) 12%
– By each SBU(Strategic Business Unit): OP10%