Bridgestone sells tennis ball company

Another company within Bridgestone Corporation’s Diversified Products business will soon have a new owner. Bridgestone Sport Co., Ltd. (BSP) is selling all its stock in Bridgestone Tecnifibre Co., Ltd. (BSTF), a Thailand-based manufacturer and seller of tennis balls, to Japanese sport equipment company Yonex Co., Ltd. BSP withdrew from the tennis goods business at the end of 2020.

This divestment is part of an ongoing restructuring of the Diversified Products business that aims to bring a stronger focus upon areas the company considers its core competencies. Bridgestone outlined its intentions in its Mid Term Business Plan (2021-2023) earlier this year.

Bridgestone expects this transaction will have a “minor” impact upon its consolidated financial results for 2021.