TOKYO—Bridgestone Corp.'s goals for the coming five years include achieving an operating profit ratio of 10 percent and a return on equity of 12 percent, company management spelled out in the firm's 2017 Mid-Term Management Plan released Oct. 17.
The company's economic goals also call for revenue growth exceeding the industry average and a return of assets of 6 percent.
Updated to reflect changes in the operating environment since last year, the latest plan will serve as a roadmap for Bridgestone in optimizing its management structures and strategic activities, the company said.
Among the plan's key aspects are the company's efforts to build brand equity across all of the its business areas. Initiatives here include the firm's role as an Olympics sponsor, which includes the Tokyo Summer Olympics in 2020, Chase your Dream Bridgestone selected Paralympic partnerships and activities for the 2018 Olympic Winter Games in South Korea.
On the technology front, the plan includes upgrading the group's global research and development structure—which encompasses facilities in Tokyo and Yokohama, Japan; Rome; and Akron, together with satellite centers in China and Thailand.
The plan identifies a number of technology priority areas, including ongoing projects around the development next-generation "air free" bicycle tires, run-flat technology, new aircraft tire solutions as well as advances in ICT across the supply chain.
Among the R&D projects highlighted are the group's development of "innovative, tough polymer composites enabling more durable tires while conserving resources," and advancing a recently introduced tire-assembly system.
Bridgestone also will prioritize its work around the development of proprietary catalyst and process technologies to convert isoprene into polymers "surpassing" the performance of natural rubber.