Nippon Paint Holdings Co., Ltd. · TSE:4612

Nippon Paint — Nippon Paint Hldgs — Q2 2025 Earnings Presentation

42 slides from Nippon Paint's earnings presentation, Aug 8, 2025

  1. Slide 1: FY2025 2Q Financial Results Presentation Material

    August 8, 2025 FY2025 2Q Financial Results Presentation Material FY2025 2Q Summary/Topics P.3 Supplemental Material P.10 1. FY2025 2Q Results: Highlights P.11 2. FY2025 2Q Results: By Segment P.14 3. FY2025 1H Results P.25 (Appendix) Reference Data

  2. Slide 2: Supplementary Information

    Supplementary Information Analysis of operating results In this document, we present our operating results in two formats: the reported basis (“Tanshin”) and the adjusted basis (“Non-GAAP”). The analysis of factors contributing to changes primarily utilize Non-GAAP data, except for QoQ analysis • Th

  3. Slide 3: FY2025 2Q Operating Results: Achieved Record-High Revenue and Operating Profit

    1. FY2025 2Q Operating Results: Achieved Record-High Revenue and Operating Profit ◆ Summary FY2025 2Q*1 • In 2Q, emphasis on profitability across all regions via price, raw materials and SG&A controls resulted in margins surpassing internal projections in many regions, including China and Asia. Chin

  4. Slide 4: Assumptions for FY2025 Guidance (1)

    2. Assumptions for FY2025 Guidance (1) (Billion yen) FY2024 results FY2025 forecast (In local currency) (Tanshin basis) Apr. forecast Latest forecast YoY YoY *1 YoY YoY *1 vs Apr. forecast Revenue OP margin (Revenue) (OP margin) (Revenue) (OP margin) (OP margin) Segment total 203.1 9.6% +5~10% → *4

  5. Slide 5: Assumptions for FY2025 Guidance (2)

    2. Assumptions for FY2025 Guidance (2) (Billion yen) FY2024 results FY2025 forecast (In local currency) (Tanshin basis) Apr. forecast Latest forecast YoY YoY *1 YoY YoY *1 vs Apr. forecast Revenue OP margin (Revenue) (OP margin) (Revenue) (OP margin) (OP margin) Segment total 369.2 16.9% +5~10% ↘ +5

  6. Slide 6: Raw Material Market Conditions and Operational Impact

    3. Raw Material Market Conditions and Operational Impact With ongoing regional and category-specific price fluctuations, no significant changes are expected in the RMCC ratio FY2025 2Q FY2025 3Q and beyond • Crude oil and naphtha prices surged temporarily in mid-June due to heightened tensions • As

  7. Slide 7: Market & Business Environment

    4. Market & Business Environment DGL DGL Japan NIPSEA China Americas AOC (Pacific) (Europe) Automotive (Adjacencies) FY2025 2Q Decorative TUC TUB FY2025 Automotive* 3Q (Adjacencies) (outlook) Decorative TUC TUB Automotive* FY2025 (Adjacencies) (outlook) Decorative TUC TUB ■ Market (YoY) ■Business (v

  8. Slide 8: Summary of Operating Results in Major Segments

    5. Summary of Operating Results in Major Segments (Billion yen) Tanshin Non-GAAP FY2025 FY2025 Overview YoY YoY 2Q 2Q Higher revenue on flow-through of price increases in automotive and strong marine sales, offsetting declines in decorative Revenue 52.3 +2.8% 52.8 +3.9% and industrial segments Japan

  9. Slide 9: Major Topics

    6. Major Topics Integrated Report 2025 (Released June 30) • Developed from the investor’s perspective by asking ourselves “Why is Nippon Paint an attractive investment opportunity?”, the Report highlights our core investment appeals • Using a Logic Tree framework that illustrates how shareholder val

  10. Slide 10: Supplemental Material

    Supplemental Material 1. FY2025 2Q Results: Highlights … P.11 2. FY2025 2Q Results: By Segment … P.14 3. FY2025 1H Results … P.25 (Appendix) Reference Data

  11. Slide 11: FY2025 2Q Results: Highlights

    1. FY2025 2Q Results: Highlights 11

  12. Slide 12: Highlights (Consolidated)

    1-1. Highlights (Consolidated) (Billion yen) Results (Tanshin) Results (Non-GAAP) Key one-off factors FY2024 FY2025 YoY FY2024 FY2025 YoY YoY (the difference between Tanshin and Non-GAAP excluding FX impact) 2Q 2Q (％) 2Q 2Q (Amount) (％) *Please refer to “Breakdown of Adjustments” in the Reference Da

  13. Slide 13: Highlights (by Segment)

    1-2. Highlights (by Segment) (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY 2Q 2Q (％) 2Q 2Q (Amount) (％) Revenue 50.8 52.3 2.8% 50.8 52.8 2.0 3.9% Japan Operating profit 5.3 5.5 2.8% 5.3 5.5 0.1 2.2% Revenue 242.0 216.5 -10.5% 241.5 230.3 -11.2 -4.6% NIPSE

  14. Slide 14: FY2025 2Q Results: By Segment

    2. FY2025 2Q Results: By Segment 14

  15. Slide 15: Revenue and Operating Profit Analysis

    2-1. Revenue and Operating Profit Analysis (Billion yen) Paint and Coatings Business (c.0%)*1 *2 Revenue Non-GAAP basis -1.7% (-7.3) (+0.6%)*1 Tanshin basis +3.2% (+13.9) (+5.7%)*1 Tanshin basis +18.5 - Operating Profit Non-GAAP basis +3.5 *1 Assuming that the change of the agent model for the tradi

  16. Slide 16: Japan

    2-2. Japan (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY 2Q 2Q (％) 2Q 2Q (Amount) (％) Automotive coatings 9.2 9.3 1.9% 9.2 9.3 0.2 1.9% Decorative paints 13.0 12.3 -4.9% 13.0 12.3 -0.6 -4.9% Key one-off factors (the difference between Tanshin and Non-GAAP

  17. Slide 17: NIPSEA China

    2-3. NIPSEA China (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY YoY *2 FY2024 FY2025 YoY YoY YoY *2 2Q 2Q (％) (％) 2Q 2Q (Amount) (％) (％) Key one-off factors Automotive coatings 14.0 14.6 3.8% - 13.3 15.8 2.5 18.9% - (the difference between Tanshin and Non-GAAP excluding FX imp

  18. Slide 18: NIPSEA Except China

    2-4. NIPSEA Except China*1 (Billion yen) Results (Tanshin) Results (Non-GAAP) Key one-off factors (the difference between Tanshin and Non-GAAP excluding FX impact) Figures are adjusted for FY2024 FY2025 YoY FY2024 FY2025 YoY YoY *Please refer to “Breakdown of Adjustments” in the Reference Data secti

  19. Slide 19: PT Nipsea (Indonesia) & Betek Boya (Türkiye)

    2-5. PT Nipsea (Indonesia) & Betek Boya (Tϋrkiye) (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY 2Q 2Q (％) 2Q 2Q (Amount) (％) Revenue 14.5 13.4 -7.4% 14.5 14.9 0.4 2.7% PT Nipsea Operating profit 5.0 4.7 -5.5% 5.0 5.2 0.2 4.7% (Indonesia) OP margin 34.2% 3

  20. Slide 20: DGL (Pacific)

    2-6. DGL (Pacific) (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY 2Q 2Q (％) 2Q 2Q (Amount) (％) Decorative paints 32.6 29.5 -9.7% 32.6 33.3 0.7 2.0% Industrial coatings 2.8 2.7 -5.7% 2.8 3.0 0.2 5.9% Key one-off factors Revenue (the difference between Tansh

  21. Slide 21: DGL (Europe)

    2-7. DGL (Europe) (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY 2Q 2Q (％) 2Q 2Q (Amount) (％) Decorative paints 35.3 34.4 -2.6% 35.3 35.7 0.4 1.2% Key one-off factors (the difference between Tanshin and Non-GAAP excluding FX impact) Revenue Adjacencies bus

  22. Slide 22: Americas

    2-8. Americas (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY 2Q 2Q (％) 2Q 2Q (Amount) (％) Key one-off factors (the difference between Tanshin and Non-GAAP excluding FX impact) Automotive coatings 12.2 11.1 -9.2% 12.2 12.3 0.2 1.5% *Please refer to “Breakdo

  23. Slide 23: AOC

    2-9. AOC (Billion yen) Results (Tanshin) Results (Non-GAAP) Key one-off factors (the difference between Tanshin and Non-GAAP excluding FX impact) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY *Please refer to “Breakdown of Adjustments” in the Reference Data section in the appendix. 2Q 2Q* (％) 2Q 2Q (Amoun

  24. Slide 24: Quarterly Financial Performance Trends in Major Segments

    2-10. Quarterly Financial Performance Trends in Major Segments (For reference) Basic seasonal factors *Market-based High Low demand demand Demand tends to be lower in 1Q due to the deepening cold and in 3Q due to more intensely hot days that Japan Decorative 4Q > 2Q > 3Q > 1Q will slow construction

  25. Slide 25: FY2025 1H Results

    ((@)» NIPPON PAINT HOLDINGS CO, LTD. 3. FY2025 1H Results

  26. Slide 26: Highlights (Consolidated)

    3-1. Highlights (Consolidated) (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY 1H 1H (％) 1H 1H (Amount) (％) Revenue 817.1 852.4 4.3% 816.2 807.6 -8.5 -1.0% Operating profit 92.5 121.2 31.1% 92.9 99.4 6.4 6.9% OP margin 11.3% 14.2% 290bps 11.4% 12.3% - 90bps

  27. Slide 27: Highlights (by Segment)

    3-2. Highlights (by Segment) (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY 1H 1H (％) 1H 1H (Amount) (％) Revenue 97.3 100.6 3.5% 97.3 101.2 3.9 4.0% Japan Operating profit 9.0 9.9 9.5% 9.0 9.9 0.8 9.1% Revenue 458.3 438.4 -4.3% 457.3 442.7 -14.6 -3.2% NIPS

  28. Slide 28: Revenue and Operating Profit Analysis

    3-3. Revenue and Operating Profit Analysis (Billion yen) Paint and Coatings Business (c.0%)*1 *2 Revenue Non-GAAP basis -1.0% (-8.5) (+1.1%)*1 Tanshin basis +4.3% (+35.3) (+6.6%)*1 Tanshin basis +28.7 - Operating Profit Non-GAAP basis +6.4 *1 Assuming that the change of the agent model for the tradi

  29. Slide 29: Japan & NIPSEA China

    3-4. Japan & NIPSEA China (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY 1H 1H (％) 1H 1H (Amount) (％) Automotive coatings 18.5 19.7 6.7% 18.5 19.7 1.2 6.7% Decorative paints 23.7 23.1 -2.4% 23.7 23.1 -0.6 -2.4% Industrial coatings 19.3 18.9 -1.8% 19.3 18.9

  30. Slide 30: NIPSEA Except China & PT Nipsea (Indonesia) & Betek Boya (Türkiye)

    3-5. NIPSEA Except China & PT Nipsea (Indonesia) & Betek Boya (Türkiye) (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY NIPSEA 1H 1H (％) 1H 1H (Amount) (％) Revenue 177.6 193.1 8.7% 177.6 186.6 8.9 5.0% Except China *1 Operating profit 26.6 31.3 17.7% 27.9 3

  31. Slide 31: DGL (Pacific) & DGL (Europe)

    3-6. DGL (Pacific) & DGL (Europe) (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY 1H 1H (％) 1H 1H (Amount) (％) Decorative paints 62.7 59.7 -4.8% 62.7 64.6 1.9 3.1% DGL Revenue Industrial coatings 5.3 5.0 -5.0% 5.3 5.4 0.2 2.9% (Pacific) Adjacencies business

  32. Slide 32: Americas

    3-7. Americas (Billion yen) Results (Tanshin) Results (Non-GAAP) FY2024 FY2025 YoY FY2024 FY2025 YoY YoY 1H 1H (％) 1H 1H (Amount) (％) Automotive coatings 23.9 22.5 -5.9% 23.9 24.1 0.2 0.8% Decorative paints 37.9 36.4 -4.0% 37.9 38.0 0.1 0.3% Revenue Americas Fine chemicals 1.2 1.1 -11.1% 1.2 1.1 -0.

  33. Slide 33: NIPPON PAINT HOLDINGS CO., LTD. Investor Relations

    NIPPON PAINT HOLDINGS CO., LTD. Investor Relations Email: ir_kouhou@nipponpaint.jp The forward-looking statements in this document are based on information available at the time of preparation and involve inherent risks and uncertainties. Accordingly, the actual results and performance of Nippon Pai

  34. Slide 34: FY2025 2Q Financial Results Presentation Material Reference Data

    FY2025 2Q Financial Results Presentation Material Reference Data August 8, 2025 Nippon Paint Holdings Co., Ltd. ーContentsー 1. Trends in Consolidated Financial Results and Key Financial Data 2 2. Revenue & Operating Profit Transition by Segment 3 3. Revenue & Operating Profit Contribution from DuluxG

  35. Slide 35: Trends in Consolidated Financial Results and Key Financial Data

    1. Trends in Consolidated Financial Results and Key Financial Data <Consolidated earnings> (Billion yen) FY2022*1 FY2023 FY2024*2 FY2025 1Q 2Q 3Q 4Q F/Y 1Q 2Q 3Q 4Q F/Y 1Q 2Q 3Q 4Q F/Y 1Q 2Q Revenue 285.1 337.0 357.9 329.1 1,309.0 330.2 362.7 393.0 356.7 1,442.6 384.3 432.8 405.6 416.0 1,638.7 405.7

  36. Slide 36: Revenue & Operating Profit Transition by Segment

    2. Revenue & Operating Profit Transition by Segment *For the trends in earnings under the former reportable segments, please see the "Data by Segment" page of our IR website. ▶Data by Segment https://www.nipponpaint-holdings.com/en/ir/results/segment/ (Billion yen) FY2022*1 FY2023 FY2024 FY2025 1Q 2

  37. Slide 37: Revenue & Operating Profit Transition by Segment

    2. Revenue & Operating Profit Transition by Segment *For the trends in earnings under the former reportable segments, please see the "Data by Segment" page of our IR website. ▶Data by Segment https://www.nipponpaint-holdings.com/en/ir/results/segment/ (Billion yen) FY2022*1 FY2023 FY2024*5 FY2025 1Q

  38. Slide 38: Revenue & Operating Profit Contribution from DuluxGroup, Betek Boya, PT Nipsea, Alina, NPI, BNPA and AOC

    3. Revenue & Operating Profit Contribution from DuluxGroup, Betek Boya, PT Nipsea, Alina, NPI, BNPA and AOC (Billion yen) FY2022*1 FY2023*1 FY2024*1 FY2025*1 1Q 2Q 3Q 4Q F/Y 1Q 2Q 3Q 4Q F/Y 1Q 2Q 3Q 4Q F/Y 1Q 2Q Revenue 68.0 79.1 84.5 83.3 314.9 81.7 89.0 95.5 94.2 360.4 93.1 105.4 100.4 99.7 398.5

  39. Slide 39: Breakdown of Adjustments (FY2024 2Q vs. FY2025 2Q)

    4. Breakdown of Adjustments (FY2024 2Q vs. FY2025 2Q) FY2024 2Q FY2025 2Q M&A New M&A New (Billion yen) Subsidy, Impairment Credit loss Subsidy, Impairment Credit loss FX related acqui- Total FX related acqui- Total etc.*1 loss provision etc.*1 loss provision expenses sitions expenses sitions Automo

  40. Slide 40: Breakdown of Adjustments (FY2024 2Q vs. FY2025 2Q)

    4. Breakdown of Adjustments (FY2024 2Q vs. FY2025 2Q) FY2024 2Q FY2025 2Q M&A New M&A New (Billion yen) Subsidy, Impairment Credit loss Subsidy, Impairment Credit loss FX related acqui- Total FX related acqui- Total etc.*1 loss provision etc.*1 loss provision expenses sitions expenses sitions Automo

  41. Slide 41: Breakdown of Adjustments (FY2024 1H vs. FY2025 1H)

    5. Breakdown of Adjustments (FY2024 1H vs. FY2025 1H) FY2024 1H FY2025 1H M&A New M&A New (Billion yen) Subsidy, Impairment Credit loss Subsidy, Impairment Credit loss FX related acqui- Total FX related acqui- Total etc.*1 loss provision etc.*1 loss provision expenses sitions expenses sitions Automo

  42. Slide 42: Breakdown of Adjustments (FY2024 1H vs. FY2025 1H)

    5. Breakdown of Adjustments (FY2024 1H vs. FY2025 1H) FY2024 1H FY2025 1H M&A New M&A New (Billion yen) Subsidy, Impairment Credit loss Subsidy, Impairment Credit loss FX related acqui- Total FX related acqui- Total etc.*1 loss provision etc.*1 loss provision expenses sitions expenses sitions Automo

Nippon Paint Hldgs — Q2 2025 Earnings Presentation on 6ix