Bridgestone SWOT and PESTLE Analysis
COMPANY PROFILE -Bridgestone
Business Sector :Tires
Operating Geography :Japan, Asia, Global
About Bridgestone :
Bridgestone is a Japanese company, founded by Shojiro Ishibashi on 1st March 1931. Initially the company dealt in the manufacturing and sale of tires exclusively based on Japanese known-how but now it also deals with the manufacturing and sale of tires (83%) and diversified products (17%) such as rubber and other products. The company works with 142,669 employees and has presence in 150 countries. It ranks #353 in Fortune Top 500 of 2017. Its corporate philosophy is “Serving Society with Superior Quality”. Its global brand is due to its commitment to deliver the best product, quality and technology in all its business activities.Bridgestone Revenue :
¥ 3643.42 billion (FY ended December 31st 2017) (y-o-y growth of 9.2%)
¥ 3337.01 billion (FY ended December 31st 2016)
Competitive Analysis of Bridgestone
1. Solid global footprint 2. Wide Product portfolio 3. Leveraging R&D to strengthen innovation and increase productivity 4. Strong performance in tire segment 5. Focused strategy for efficient business execution | 1. Increase in raw material costs 2. High dependence on Southeast Asia for natural rubber |
1. Growing global demand for passenger car tires 2. Growth Opportunity in hybrid and electric vehicle wheel segment | 1. Stiff Competition in diversified product. 2. Risks of natural disasters |
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Detailed SWOT Analysis of Bridgestone
Strength
1. Solid global footprint: Bridgestone has a solid global footprint with business existing in 150 countries with more than 180 Production and Development in 26 countries. It is largest tire and rubber manufacturer in the world. It has 180 manufacturing plants globally which helps in localization. It procures some of its raw materials like synthetic & natural rubber, steel, etc. from international operating regions like Russia, US, Russia, etc. and optimizes costs. Its net sales grew by 8% in the Americas, by 13% in Russia, Africa, Europe and Middle East in 2017 as compared to 2016. The sale of tires rose because of the launch of new products and services globally and swift response to change in demand.
2. Diverse product portfolio: Its diversified product lineup includes passenger and light truck tires, motorcycle tires, commercial truck and bus tires, aircraft and mining tires, industrial products, and sports goods like premium golf balls, clubs & business solutions to capture demand in mining, fleets and agriculture through targeted packages. Many of these products are used in everyday consumption and serve various industries which make the business sustainable in long term. The strong momentum in the segment’s growth is reflected in the increase of 7% from FY2016 to ¥627.8 billion in FY2017. The group is adding more products in this segment like HosePower through acquisitions like with Industrial Rubber Co. New Jersey. This will increase its earnings as it caters to demand across more segments like Firestone with the Firestone FR500 for cars and Firestone Destination LE02 for SUVs, Dayton which is an affordable & economical tire range for small to the mid-sized cars, premium tires Blizzak LM-001 for the BMW X3, etc.
3. Leveraging R&D to strengthen innovation and increase productivity: Bridgestone is constantly developing new products for aligning its products and services with global demand. It adds sophistication and improves quality. The NanoPro Tech which uses design technology at molecular level has increased the safety and efficiency of its tires. The development of “Air Free Concept” for inflating bicycle tires without air, Smart Siphon drainage system for water supply equipment, etc. has added value to its brand. This improves productivity, increases asset value and optimizes costs. The aircraft tires are developed after broad based studies like basic polymer synthesis research, structural theory study, stress distribution analysis, vibration reduction, etc. This is seen through the increase in R&D by 4.6% in 2017 and a subsequent 6.5% growth in total assets.
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Weakness
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Opportunity
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Threat
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Major Competitors :
Continental, Goodyear, Michelin, Hankook, Pirelli, Sumitomo, Yokohama.Major Brands :
Bridgestone, Firestone, Blizzak, Lassa, Dueler, Potenza, Ecopia, DriveGuard, Turanza.Recent Acquisition / Mergers / Alliance / Joint Ventures / Divestitures :
Open Table PreviewGroupe Ayme | Tire and automotive retail | 2018 | Acquisition | Strengthens and expands Bridgestone retail’s tire and automotive service |
Speedy France S.A.S. | Car service stations | 2016 | Acquisition | Will help in Bridgestone achieving accelerated growth strategy in Europe |
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References used in Bridgestone Analysis Report
1.Bridgestone- https://www.bridgestone.com/
2. Bridgestone Annual Report-https://www.bridgestone.com/
3. Bridgestone technology innovation-https://www.bridgestone.com/technology_innovation/ologic/
4. Bridgestone business reports-https://www.bridgestone.com/ir/library/business_reports/pdf/business_report_for_the_99th_fp.pdf
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Bridgestone SWOT and PESTLE analysis has been conducted by Kanupriya Sheopuri and reviewed by senior analysts from Barakaat Consulting.Copyright of Bridgestone SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.