Bridgestone Corp Ord (BRDCF) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you very much for attending the Q1 2024 financial results briefing hosted by Bridgestone Corporation. Let me introduce to you the presenters. To start with Director of Bridgestone Corporation, Representative Executive Officer Shuichi Ishibashi. as well as Global CFO and General Manager of 9th Finest Division, Naoki Hishinuma. We also have Yoshikazu Shida, Global CCO, as well as Global CAO, Masahiro Higashi. So I would like to hand it over to Mr. Shuichi Ishibashi, again, our global CEO, to take you through the overview of the first quarter 2024 financial summary and four-year forecast. Hello to everyone. I am Ishibashi, global CEO. 2024, as the first year of the 24 medium-term business plan announced on March 1st, we will resolve remaining and new issues of the 21 medium-term business plan. Our top priority is to return to a strong bridge zone capable of adapting to change. So today I will explain our first quarter results, including the progress made to date. In the first quarter, although there were some challenges, such as lower demand for trucking bus tires in North America and a deteriorating business environment in Latin America, which we had assumed at the time of the planning in February, off-the-road tires for mining vehicles and passenger car premium tires in replacement markets supported the performance and with the tailwind of foreign exchange also contributed to the year-on-year increase in revenue and profit. While continuing to strengthen our focus on premium tires with promoting measures to combat the deterioration of Latin American business, we will continue to manage our business with the aim of covering such negative impact in other areas. Demand and sales in the first quarter. First, let us summarize the passenger car tire business. Demand f...