Nippon Paint Q3 Report 2022

During the nine months ended September 30, 2022, consolidated revenue of the Nippon Paint Group increased by 33.1% from the corresponding period of the previous year (same hereafter) to ¥979,916 million. This is primarily due to the acquisition on January 20, 2022 of European paint manufacturer Cromology Holding SAS (Cromology) and the acquisition on May 31, 2022 of European paint manufacturer DB JUB delniška družba pooblaščenka d.d. (JUB) by NPHD, 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 24.7% to ¥82,428 million due to 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 22.8% to ¥80,224 million, and profit attributable to owners of parent increased by 11.1% to ¥55,185 million.