BRIDGESTONE TIRE SALES VIETNAM: Global Brand, Local Struggles in a Shifting Market

As one of the world’s most recognizable tire brands, BRIDGESTONE brings global prestige and technical sophistication to its Vietnamese operations. Through BRIDGESTONE TIRE SALES VIETNAM LIMITED LIABILITY COMPANY, the Japanese tire giant has maintained a presence in Vietnam for over 15 years. Yet despite strong branding and market presence, 2023 revealed financial vulnerabilities that underscore the pressure facing foreign-invested enterprises in Vietnam’s increasingly competitive auto sector.

Established on March 12, 2010, and registered under business ID 0309875328, Bridgestone Vietnam is a foreign direct investment company headquartered at Bao Viet Building, Dong Khoi Street, District 1, Ho Chi Minh City. Its operations also span a branch in Binh Duong and a representative office in Hanoi. The company is 95% owned by BRIDGESTONE ASIA PACIFIC PTE. LTD. (Singapore) and 5% by MITSUBISHI CORPORATION (Japan), reinforcing its deep roots in Japanese-Southeast Asian business cooperation.

Under the leadership of General Director Naoki Inutsuka, a Japanese national, the company’s core business is the distribution of tires and automotive parts. Additional licensed activities include manufacturing, retreading, market research, and management consultancy. Despite this diversification, the company’s recent financials reflect a downturn across key indicators.

In 2023, BRIDGESTONE VIETNAM posted USD 102.9 million in revenue, marking a 16.83% decline year-over-year. Even more concerning, profit plunged by nearly 75%, down to just USD 1.97 million, compared to USD 7.8 million the year before. Assets also dropped by 12.79%, and equity shrank by over 4%, signaling operational contraction and market pressure.

What caused the decline? Several possible factors include weakened domestic demand, increased competition from lower-cost Chinese and Vietnamese brands, and rising costs of imported rubber materials. Despite these headwinds, the company still maintains USD 24.7 million in working capital and USD 25.6 million in equity, demonstrating financial stability even amid reduced profitability.

With only around 70 employees, the company runs a lean operation focused on high-value product lines rather than mass manufacturing. Its strategic advantage lies in the trust and longevity of the Bridgestone brand among high-end transport and logistics clients.

But challenges persist. Vietnam’s automotive market is shifting rapidly toward electric mobility, localized production, and affordable alternatives. Bridgestone’s relatively small footprint, lack of domestic manufacturing scale, and recent profitability drop could signal a need for strategic realignment or reinvestment if it wishes to regain market momentum.

For potential partners, investors, or vendors, VANGUARD BUSINESS INFORMATION LLC (VBI) recommends careful due diligence before engaging in contracts or supply chain agreements with BRIDGESTONE VIETNAM. Use VBI’s tools to access the latest financial analysis, risk ratings, court record searches, and partner verification reports.

To obtain the full report on BRIDGESTONE VIETNAM or any other enterprise in the tire or automotive sector, visit www.vnbis.com — your gateway to reliable, private financial intelligence across Vietnam’s dynamic markets.