Bridgestone 2002 Annual Report Download - page 20

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All of the financial information in the following discussion and analysis is from the consolidated financial statements and notes. Financial
disclosure by Bridgestone Corporation (the “Company”) is in accordance with accounting principles and practices generally accepted and
applied in Japan (“Japanese GAAP”). See Note 18 in the Notes to Consolidated Financial Statements for information about the differences
between Japanese GAAP and U.S. GAAP.
Business and Markets
The business of the Company and its subsidiaries (the
“Companies”) comprises two main segments: “tires,” including
tires, tubes, wheels, related accessories and automotive mainte-
nance, and “other,” which consists mainly of chemical products,
industrial rubber products, sporting goods, bicycles and industrial
machines. The “tires” segment accounted for approximately 80%
of the Companies’ net sales in 2002. That percentage has remained
basically constant for several years.
Sales by company location
Net sales increased 5.3% in 2002, to ¥2,247.8 billion ($18,747
million). In sales by company location, sales at the Company and its
Japanese subsidiaries were unchanged, at ¥827.6 billion ($6,903
million). Sales at operations in the Americas increased 6.8%, to
¥981.0 billion ($8,182 million). At the Companies’ European
operations, sales increased 10.7%, to ¥239.2 billion ($1,995 mil-
lion). Sales at operations in other regions—including Asian nations
besides Japan, Australia, New Zealand, Africa and the Middle
East—increased 15.9%, to ¥199.9 billion ($1,668 million).
Movement in currency exchange rates amplified the contri-
bution of sales outside Japan to the yen-denominated figures
for consolidated sales. Japan’s currency averaged approximately
¥125 to the U.S. dollar and ¥118 to the euro in 2002, compared
with approximately ¥122 to the U.S. dollar and ¥109 to the euro
in 2001.
Composition of sales by geographic segment (company location)
(% of net sales)
FY 2002 2001
Japan 36.8 38.8
Americas 43.6 43.0
Europe 10.7 10.1
Other 8.9 8.1
100.0 100.0
18
Management’s Discussion and Analysis
Financial
Section