Chugoku Marine Paints,ltd. · TSE:4617

Chugoku Marine Paints,ltd — Q3 FY2025 Earnings Presentation

38 slides from Chugoku Marine Paints,ltd's earnings presentation, Feb 3, 2026

  1. Slide 1: Financial Results for the Third Quarter of FY Ending March 31, 2026

    Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2026 (FY2025) February 3, 2026 Chugoku Marine Paints, Ltd. (TSE Code: 4617)

  2. Slide 2: Outline

    Outline Page １. Consolidated Earnings Summary 3–8 ２. Summary by Product and Region 9–17 ３. Full-Year Outlook 18–23 ４. Reference 24–38 Note: Figures presented in tables and graphs are expressed in millions of yen unless otherwise indicated. Copyright © Chugoku Marine Paints, Ltd. All Rights Reserved.

  3. Slide 3: 1. Consolidated Earnings Summary

    1-1 1. Consolidated Earnings Summary Copyright © Chugoku Marine Paints, Ltd. All Rights Reserved.

  4. Slide 4: Q1-Q3 earnings highlights

    Q1-Q3 earnings highlights ✔ Net sales increased, driven by strong sales of mainstay marine coatings and the optimization of selling prices to better reflect manufacturing costs. ✔ Profitability improved, mainly due to selling price revisions and increased sales of high-value added products. Net sale

  5. Slide 5: Consolidated income statement

    Consolidated income statement Profitability improved due to selling price revisions and an improved product mix, with the gross margin up 1.3pp YoY. The operating profit margin rose to 12.7%, as higher gross profit absorbed an increase in SG&A expenses (mainly personnel and transportation expenses).

  6. Slide 6: Income statement supplemental information

    Income statement supplemental information Q1-Q3 FY2024 Q1-Q3 FY2025 Change % change Depreciation 1,249 1,364 ＋115 ＋9.3% R&D expenses 1.285 1,330 ＋44 ＋3.5% ◆Exchange rate(JPY) USD 151.29 148.23 －3.06 －2.0% EUR 164.40 165.54 ＋1.14 ＋0.7% CNY 20.97 20.51 －0.46 －2.2% KRW 0.1120 0.1051 －0.0069 －6.2% SGD 1

  7. Slide 7: Balance sheet summary

    1-6 balance sheet summary Consolidated End–FY2024 Q3 End FY2025 Change Main changes Cash and deposits -1,405, trade receivables +1,543 Current assets 108,373 110,783 ＋2,410 Merchandise and finished goods +1,240 Raw materials and supplies +1,310 Property, plant and equipment 24,599 25,718 ＋1,118 Buil

  8. Slide 8: Cash flows statement summary

    1-7 cash flows statement summary Consolidated Q1-Q3 FY2024 Q1-Q3 FY2025 Change Main changes Profit before income taxes -1,220 Cash flows from operating activities 8,671 8,208 －463 Change in trade receivables -1,511 Loss (gain) on sale and retirement of non- current assets +2,482 Change in time depos

  9. Slide 9: 2. Summary by Product and Region

    1-1 2. Summary by Product and Region Copyright © Chugoku Marine Paints, Ltd. All Rights Reserved.

  10. Slide 10: Sales by product and region

    Sales by 2-1 product and region Europe and Japan China South Korea Southeast Asia Total the US Q1-Q3 FY2024 27,367 14,260 13,518 8,273 20,822 84,301 Marine Q1-Q3 FY2025 28,653 15,083 13,948 8,885 23,046 89,617 coatings % change ＋4.7% ＋5.8% ＋3.2% ＋7.4% ＋10.4% ＋6.3% Q1-Q3 FY2024 4,308 872 138 4,523 25

  11. Slide 11: Summary by product

    Summary2-2 by product Summary by product Marine coatings Marine coatings Industrial coatings Container coatings Sales of new ship coatings remained solid overall, despite the easing 101,930 of large-scale project concentration in South Korea, supported by 100,000 96,055 1,219 Construction materials

  12. Slide 12: By region

    2-3 by region Performance Sales increased in all regions, driven in particular by strong sales of ship repair coatings in Europe. Forex impact had downward pressure on sales in China and South Korea, while boosting sales in Southeast Asia, Europe and the US. In Japan and South Korea, profit increase

  13. Slide 13: Japan

    Japan 2-4 Sales Down 4.8% YoY Segment profit Up 48.0％ YoY 33,463 31,915 Heavy duty 2,500 1,988 重防食 coatings 1,975 2,595 Construction 建材 2,333 materials 1,812 ※1 1,772 PB等 PBs ※1 2,590 1,750 ＋1.4% 12,300 修繕船 Ship repair 12,132 0 2024年度 3Q累計 Q1-Q3 FY2024 2025年度 3Q累計 Q1-Q3 FY2025 Overview ✔ Despite pro

  14. Slide 14: China

    China 2-5 Sales Up 5.3% YoY Segment profit Up 16.2% YoY 16,337 2,500 15,516 コンテナ Container 329 Heavy duty 925 重防食 383 coatings 2,000 872 1,500 4,601 修繕船 Ship repair 2,329 －1.3% 1,000 2,004 4,663 500 0 2024年度 Q1-Q3 2024年度3Q累計 FY2024 1Q 2025年度 2025年度 Q1-Q3 3Q累計 1Q FY2025 Overview ✔ Sales of new ship c

  15. Slide 15: South Korea

    South Korea 2-6 Sales Up 3.4% YoY Segment profit Up 38.2 YoY 14,120 13,657 Heavy duty 重防食 171 2,000 14,000 coatings 138 1,119 修繕船 Ship repair 945 1,500 2,128 12,000 1,000 1,539 10,000 500 0 8,000 2024年度FY2024 Q1-Q3 3Q累計 2025年度FY2025 Q1-Q3 3Q累計 ＋2.0% 新造船 New ships Overview 6,000 12,572 12,828 ✔ Altho

  16. Slide 16: Southeast Asia

    Southeast2-7 Asia Sales Up 2.6% YoY Segment profit Down 4.4% YoY 14,128 13,765 828 Container 3,000 968 コンテナ coatings 2,500 2,000 4,352 Heavy duty 重防食 coatings 1,500 2,904 2,776 4,438 1,000 建材 500 443 PBs * 139 PB等 ※ 0 2024年度 2024年度 Q1-Q3 3Q累計 1Q FY2024 2025年度 2025年度 Q1-Q3 3Q累計 1Q FY2025 Overview ✔ S

  17. Slide 17: Europe and the US

    Europe and 2-8the US Sales Up 12.6% YoY Segment profit Down 42.4% YoY 23,880 2,000 771 1,800 重防食 Heavy duty coatings 21,201 1,600 1,413 PBs* 1,400 255 1,200 20,000 1,120 1,000 1,880 800 600 400 1,082 200 15,000 0 2024年度 Q1-Q3 2024年度 1Q FY2024 3Q累計 2025年度 Q1-Q3 2025年度 1Q FY2025 3Q累計 Overview ＋9.9% 21

  18. Slide 18: 3. Full-year Outlook

    1-1 3. Full-year Outlook Copyright © Chugoku Marine Paints, Ltd. All Rights Reserved.

  19. Slide 19: Earnings forecasts (announced October 31, 2025; reposted)

    3-1 earnings forecasts (announced on October 31, 2025; reposted) FY2024 full-year On October 31, 2025, we revised the forecast released on May 9, in light of progress as of end-1H and recent earnings performance. We raised the forecasts for sales and all profit categories, as we anticipate greater-t

  20. Slide 20: Sales forecasts by Product and Region (reposted)

    Sales forecasts by Product and Region (reposted) We upwardly revised the sales projection for marine coatings, reflecting anticipated growth in Japan, South Korea, and Europe, where sales have been strong. We lowered the sales forecast for industrial coatings, as higher-than-expected sales in Japan

  21. Slide 21: Revision of dividend forecast (special dividend)

    Revision 3-1 of dividend End-FY2025 (special dividend) On February 3, 2026, we revised the previous dividend forecast announced in May 2025 to reflect the decision to pay a special dividend (no change to the ordinary dividend forecast). Initial forecast for FY2025 Revised forecast Based on the speci

  22. Slide 22: Medium-term management plan: primary initiatives in FY2025

    3-4 Primary initiatives in FY2025 １ ✔ 高性能防汚塗料のプロモーション強化とシェア拡大 ✔ Strengthen （シリコーン系を含む） promotion of high-performance antifoulings and boost market share (including silicon-based coatings) Expand value provided ✔ 低VOC塗料の拡販及びバイオマス塗料の提案強化 medium-term management plan ✔ Expand sales of low-VOC coatings a

  23. Slide 23: Forecast cautionary note

    www.cmp.co.jp www.cmp-chugoku.com Forecasts presented in these materials are based on judgments made in accordance with information available to CMP as of February 3, 2026. Actual results may differ materially from forecasts due to various risks and uncertainties. Copyright © Chugoku Marine Paints,

  24. Slide 24: 4. Reference

    1-1 4. Reference Copyright © Chugoku Marine Paints, Ltd. All Rights Reserved.

  25. Slide 25: Company outline

    Company参考 outline Name Chugoku Marine Paints, Ltd. Establishment May 1917 (in business for 108 years) Main business Production and sales of functional coatings centered on marine coatings Capital 11,626 million yen TOKYO ： Toranomon Hills Station Tower 16F, 2-6-1 Toranomon, Minato-ku, Tokyo, Headqua

  26. Slide 26: Bases and Group companies

    参考 Bases and Group companies Our business encompasses approximately 60 locations belonging to 25 companies located in 20 countries around the world. Norway UK Holland Germany 【Japan】 Italy South Korea Tokyo (headquarters) Greece Turkey Shanghai Shiga Cyprus UAE Guangdong Hyogo Myanmar USA India Taiw

  27. Slide 27: Products (Marine coatings)

    Products参考 (Marine coatings) Marine coatings 船底部を汚損から護る防汚塗料や、各種タンクを腐食から護る防 CMP provides antifoulings that protects ship bottoms from 食塗料など船体のあらゆる部位に応じた製品を供給しています。 contamination and products for every part of the hull, including heavy duty coatings protecting a variety of tanks from corrosion. In add

  28. Slide 28: Antifouling paint

    1-5paint Antifouling Antifouling paint prevents increases to surface drag caused by Mechanism barnacles and other marine organisms that attach themselves to Hydrolysis type, ship bottoms. which is the main type of bottom paint used today → These coatings help improve ship fuel efficiency and reduce

  29. Slide 29: Reducing GHG emissions from ships

    Reducing1-5 GHG emissions from ships Efforts to make ships environmentally compliant through the reduction of greenhouse gas emissions represent a business opportunity for CMP ～ ～ 2008年 2020 2023 2025 2030 2050 (Base year for measuring emissions) 輸送量当たり 40% 排出量 既存船の Application of fuel Roadmap for r

  30. Slide 30: Products (Industrial and Container coatings)

    Products参考 (Industrial and Container coatings) 船舶用塗料 Industrial coatings Container coatings CMP provides a variety of products including construction materials such CMP supplies container coatings mainly in China and Southeast Asia, コンテナボックスの主要生産地である中国を 船舶用塗料で培った技術を活用し、フローリングや外壁等の建材 as flooring mate

  31. Slide 31: ESG information (E)

    参考 ESG information (E) E: Environment Products contributing to the realization of a sustainable society 【CO2低減と省エネ】 Reducing CO2 and saving energy 【再生可能エネルギー】 Renewable energy 船舶用塗料の主力製品である船底防汚塗料は、フジツボ等の海 Antifoulings, the core product of marine coatings, improve ship mileage by reducing 海洋開発に関して大学や

  32. Slide 32: ESG Information (S&G)

    ESG Information 参考 (S&G) S:Society G:Governance 【Outline of the HR strategy】 Structure  Organization: Company with auditors  Director’s term: One year  Officer composition: Two of seven directors are outside directors. (More than 1/3.) Two of four auditors are outside auditors.  Outside officers

  33. Slide 33: Shareholder returns

    1-6 returns Shareholder Return The Company aims to achieve an average total return on consolidated shareholders’ equity (D&BOE) of at least 5% over the course of its medium-term management plan (FY2021–FY2025). standards Dividends Share buybacks Consolidated payout ratio: at least 40% We will flexib

  34. Slide 34: Provisions to Dividend Policy (Published Oct. 31, 2024)

    3-1 Provisions to Dividend Policy (Published Oct. 31, 2024) Addition of Special We have maintained the shareholder return policy outlined in the medium-term management plan (payout ratio of 40% or more, among others). To eliminate one-time profit factors as much as possible in the calculation of the

  35. Slide 35: Key raw material prices (domestic market)

    Key raw material prices (domestic market) （JPY/kl） Domestic naphtha Domestic copper price Yen-denominated price of ※ （JPY/kl） （千円/t） 国産ナフサ（右軸） 銅国内建値（左軸） エポキシ樹脂円建（左軸） 2,133 price (right axis) (left axis) epoxy resin (left axis)* 120,000 2,000 Copper 1,753 1,800 100,000 1,570 1,600 1,471 1,498 1,424 1

  36. Slide 36: Key raw material prices (overseas market)

    Key raw material prices (overseas market ) Naphtha price※ ※ ナフサ（右軸） LME銅（左軸） copper price (left axis) エポキシ樹脂（左軸） Epoxy resin (left axis)* (right axis) * 13,030 （US$/t） (US＄/t） 12,000 Copper 11,100 1,000 9,751 9,792 10,000 9,327 9,519 9,204 9,145 8,930 800 8,478 8,356 8,444 8,169 8,000 689 686 688 67

  37. Slide 37: Fact Sheet (FY2020-FY2024)

    Fact Sheet（FY2020-FY2024） Note: Underlined figures were revised on December 27, 2021. 【Consolidated Basis】 FY2020 FY2021 FY2022 FY2023 FY2024 Net sales (millions of yen) 82,442 84,295 99,481 116,174 131,152 Operating profit (millions of yen) 6,506 687 3,887 12,185 15,381 Ordinary profit (millions of

  38. Slide 38: Fact Sheet (FY2015-FY2019)

    Fact Sheet（FY2015-FY2019） Note: Underlined figures were revised on December 27, 2021. 【Consolidated Basis】 FY2015 FY2016 FY2017 FY2018 FY2019 Net sales (millions of yen) 115,066 82,368 82,980 88,452 87,729 Operating profit (millions of yen) 9,969 5,429 3,704 △643 3,441 Ordinary profit (millions of y

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