Nippon Paint Full-Year Report 2022

In the fiscal year ended December 31, 2022, consolidated revenue of the Nippon Paint Group increased by 31.1% from the previous year (same hereafter) to ¥1,309,021 million. This is primarily due to the acquisition on January 20, 2022 of European paint manufacturer Cromology Holdings SAS (Cromology) and the acquisition on May 31, 2022 of European paint manufacturer DP JUB delniška družba pooblaščenka d.d. (JUB) as subsidiaries and the depreciation of the Japanese yen, combined with the strong performance underpinned by continuous selling price increases in the decorative paints business in China, which is a key business of the Nippon Paint Group. Consolidated operating profit increased by 27.7% to ¥111,882 million due to the flow through of selling price increases, despite raw material price increases in every region and an additional provision for potential credit loss in China. Consolidated profit before tax increased by 20.9% to ¥104,495 million, and profit attributable to owners of parent increased by 17.5% to ¥79,418 million.

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