Bridgestone Corp Ord (BRDCF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, thank you very much for gathering on the occasion of the presentation of financial results for 2024. Let me introduce to you the members from the company. Representative Executive Officer Global CEO Mr. Shuichi Ishibashi. Representative Executive Officer Global CAO and Global CSO Yasuhiro Morita. As well, we have Global CFO in charge from the Finance Division, Mr. Naoki Hishinuma. So the three representatives from the corporation will cover the presentation. First and foremost, I would like to call upon Mr. Shu Ishibashi, Western Corporation member of the board, global CEO, and representative executive officer on the subject of the summary of financial results 2024 and business plan for 2025. Hello, everyone. I am Ishibashi, global CEO. Today I am going to explain the company's summary of financial results for 2024 and business plans for 2025. First, summary of 2024 consolidated financial results. The structural changes in the automotive industry due to the rise of Chinese EVs and amid the new threats, of acceleration of tire industry structure changes caused by an increase in low-end imports, especially in Latin America and Europe. The company did achieve year-on-year increase in both revenue and adjusted operating profit, partly due to a heavy tailwind of foreign exchange rates. Revenue was approximately 4.4 trillion yen, adjusted operating profit approximately 480 billion yen, with adjusted operating profit margin of 10.9%. Net income from continuing operation was ¥295 billion, ROIC 8.2%, and ROE, with approximately ¥100 billion of rebuilding cost, was at 8.1%, both below the previous year's level. With the early start of business rebuilding coming on its second stage, thorough pursuit of premium focus, promotion of sales mix improvement, the...