Bridgestone Corporation (TSE: 5108) reported Q1 results for the three months ended March 31, 2026 (Q1 FY12/2026) under IFRS. On a continuing-operations basis (excluding the anti-vibration rubber business now classified as discontinued), revenue rose 5.2% year-on-year to ¥1,113,427 million, adjusted operating profit (Bridgestone's preferred indicator) climbed 9.7% to ¥122,190 million, and IFRS operating profit jumped 41.7% to ¥125,802 million. Net profit attributable to owners (continuing operations) rose 21.4% to ¥91,925 million. Including discontinued operations, net profit attributable to owners was ¥92,112 million (+21.4%) and comprehensive income swung dramatically from -¥66,843 million a year ago to +¥142,419 million. Basic EPS (split-adjusted) came in at ¥72.37 versus ¥55.58 prior year.
1-for-2 stock split effective January 1, 2026
Bridgestone executed a 1-for-2 common-stock split effective January 1, 2026. All prior-period per-share figures (EPS, dividend, BV/share) have been restated to reflect the split. The number of issued shares rose to 1,334,037,042 (vs 1,427,396,442 at FY25 year-end — the apparent decrease reflects the cancellation of treasury shares that took place alongside the split). Period-end treasury shares stood at 71,796,307 (vs 150,838,696 prior).
Anti-vibration rubber: classified as discontinued operations
The anti-vibration rubber business has been classified as a discontinued operation in Bridgestone's Q1 FY26 reporting, with prior-period comparatives restated to exclude it. This is the second major business reclassification for Bridgestone (after the 2024 carve-out of the diversified-products non-tire segment), continuing the portfolio focus on the core tire and mobility-solution businesses.
Balance sheet contracts on capital returns
Total assets reached ¥5,645,839 million, down ¥101.9 billion from FY25 year-end (¥5,747,705 million), reflecting heavier capital returns (dividends + buybacks) net of operating cash generation. Equity attributable to owners reached ¥3,678,718 million (vs ¥3,661,793 million), and the equity ratio rose to 65.2% from 63.7%. Cash and cash equivalents declined to ¥642.9 billion (vs ¥713.8 billion).
FY26 full-year guidance unchanged: ¥515bn adjusted OP, dividend ¥125 split-adjusted
Bridgestone held full-year FY12/2026 guidance: revenue of ¥4,500,000 million (+1.6%), adjusted operating profit of ¥515,000 million (+4.3%), net profit attributable to owners of ¥340,000 million (+3.9%) with EPS of ¥270.87. The FY12/2026 annual dividend guidance is ¥125 per share split-adjusted (¥60 interim + ¥65 year-end) — equivalent to ¥250 pre-split, vs ¥230 in FY25 — continuing the progressive dividend policy and reflecting the ongoing buyback program.
| Metric | Q1 FY12/26 | Q1 FY12/25 | YoY |
|---|---|---|---|
| Revenue (¥ billion) | 1,113.4 | 1,058.1 | +5.2% |
| Adjusted operating profit (¥ billion) | 122.2 | 111.4 | +9.7% |
| Operating profit (¥ billion) | 125.8 | 88.8 | +41.7% |
| Net profit attrib., continuing (¥ billion) | 91.9 | 75.7 | +21.4% |
| Net profit attrib., total (¥ billion) | 92.1 | 75.9 | +21.4% |
| Comprehensive income (¥ billion) | 142.4 | -66.8 | Swung positive |
| Basic EPS, split-adj. (¥) | 72.37 | 55.58 | +30.2% |
| Equity ratio | 65.2% | 63.7% | +1.5pp |
| FY26 annual dividend guidance, split-adj. (¥) | 125 | 115* | +8.7% |
| FY26 adjusted OP guidance (¥ billion) | 515.0 | — | +4.3% |
| FY26 net profit attrib. guidance (¥ billion) | 340.0 | — | +3.9% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision. *FY25 dividend shown split-adjusted (actual ¥230 pre-split).