Bridgestone
Bridgestone Corporation (株式会社ブリヂストン, Kabushiki gaisha Burijisuton) is a Japanese multinational manufacturing company founded in 1931 by Shojiro Ishibashi (1889–1976) in the city of Kurume, Fukuoka, Japan. The name Bridgestone comes from a calque translation and transposition of ishibashi (石橋), meaning 'stone bridge' in Japanese. It primarily manufactures tires, as well as golf equipment.
Native name
株式会社ブリヂストン
Kabushiki gaisha Burijisuton
- Bridgestone Tire Co., Ltd. (1931–1942, 1951–1984)
- Nippon Tire Company (1942–1951)
- TYO: 5108
- Nikkei 225 component
- TOPIX Large70 component
1 March 1931
Kurume, Fukuoka, Japan
Worldwide
Ishibashi family (10.2%)
129,262 (2022)
History[edit]
Origins[edit]
The history of the Bridgestone Tire Company, Ltd., founded in 1931 by Shojiro Ishibashi in Japan.[9] The first Bridgestone tire was produced on 9 April 1930, by the Japanese "Tabi" Socks Tire Division (actually made jika-tabi). One year later on 1 March 1931, the founder, Shojiro Ishibashi, made the "Tabi" Socks Tire Division independent and established the Bridgestone Tire Co., Ltd.[9] in the city of Kurume, Fukuoka Prefecture. "Bridgestone" was named after the name of the founder, Shojiro Ishibashi (石橋; lit. 'stone bridge').[10]
Foregoing dependence on European and North American technology, the Bridgestone Tire Co., Ltd. set its eyes on manufacturing tires based largely on Japanese technology. The fledgling company experienced many difficulties in the areas of technology, production, and sales in the early days. Eventually, improvements were achieved in quality and manufacturing processes which led to the business rapidly expanding in domestic and overseas markets.
Challenges during and after World War II[edit]
Wartime regulations were in effect throughout Japan during World War II, and tires also came under the jurisdiction of these regulations. This resulted in nearly all of the company's output being used to satisfy military demand. 1945 saw the end of armed conflict, but the company was devastated by the war. The Tokyo headquarters was destroyed during an aerial bombing raid, and all overseas assets were lost. The plants in Kurume and Yokohama escaped unscathed, and production was able to resume immediately after the war ended. Brushing aside the problems caused by a labour union strike that lasted for forty–six days, the foundations of the company were further reinforced after this.
After the war the company started making bicycles, with the Bridgestone Cycle Company being formed in 1949.[11] From 1952 the first complete powered bicycles were produced, with a 26cc engine. In 1958 the first 50cc Bridgestone motorcycles were manufactured, but the company's main income was from supplying tires to its rival motorcycle makers such as Honda, Suzuki and Yamaha and it was later decided to cease motorcycle manufacturing.[11]
In 1952, Ishibashi founded the Bridgestone Museum of Art and located it at 10 Kyobashi 1–chome, Chuo–ku, Tokyo 104; Bridgestone Corporation's company headquarters.[12]
Bridgestone e–Reporter[edit]
Bridgestone e–reporter is a pan–European competition for aspiring young sports journalists, open to all students aged 18–30, who are in full–time education.
Now in its fifth year, Bridgestone e–reporter[54] continues to provide up–and–coming writers with first hand experience, interviewing GP2 drivers and issuing race reports from a European GP2 race weekend.
The 2008 competition was officially launched on 1 February 2008 with the deadline for entries at 12.00 GMT on 31 March 2008. As of 2009, Bridgestone has not held further editions of the e–Reporter competition. However it may return in a different form in the future.
Bridgestone was the sole tire supplier for the GP2 series, an open–wheeled racing championship that is widely regarded as the feeder series for Formula One.
Controversies[edit]
After Bridgestone purchased Firestone in 1988, cost cutting measures led to tread separations in tires manufactured in Firestone plants in the 1990s. [55]
In 2008, Bridgestone ran an advert during the Super Bowl XLII showing a car–driver avoiding several hazards while driving at night, including threatening to run down Richard Simmons, who was embodying a homophobic sissy stereotype, with Ad Age's critic Bob Garfield describing the advert as "grounded in homophobia".[56][57]
In September 2011, Bridgestone pleaded guilty to bribing Latin American officials and bid rigging, and agreed to pay a $28 million fine to resolve criminal charges.[58]
In February 2014 Bridgestone agreed to a $425 million fine imposed by the United States Department of Justice for price fixing and bid rigging in the automotive parts industry. The company said it regretted the actions that led to the plea deal and said it would take disciplinary action against certain employees.[59] One executive and two other former executives were indicted for conspiracy.[60]
In February 2022, shortly after outsourcing the majority of its IT employees, Bridgestone Americas was hacked. This resulted in the theft of company data, manufacturing plants in North and South America to be closed, and production to be halted.[61]