Bridgestone plans share buyback, boost dividend despite profit dip

Bridgestone Corporation (TSE: 5108) reported its fiscal 2024 results, noting a 3% revenue increase to ¥4.43 trillion but a 14% drop in net profit attributable to owners to ¥285.0 billion. Despite this dip, the company's board approved a ¥300 billion share repurchase program for up to 75 million shares between February and December 2025, signaling confidence in future cash generation. In addition, the company aims to increase annual dividends by ¥20 per share to ¥230. Looking ahead to fiscal 2025, Bridgestone forecasts a slight revenue decline to ¥4.33 trillion but expects adjusted operating profit to increase to ¥505 billion due to improvements in pricing and mix, offset by raw material headwinds. The firm’s ROIC target for fiscal 2025 is 9.2%