Nippon Paint Holdings Co., Ltd. · TSE:4612
Nippon Paint — Nippon Paint Hldgs — Q2 2026 Earnings Presentation
45 slides from Nippon Paint's earnings presentation, Aug 7, 2026
Slide 1: FY2026 2Q Financial Results Presentation Material
August 7, 2026 FY2026 2Q Financial Results Presentation Material Historical Performance Summary P.3 FY2026 2Q Summary/Topics P.4 Supplemental Material P.13 1. FY2026 2Q Results: Highlights P.14 2. FY2026 2Q Results: By Segment P.17 3. FY2026 1H Results P.27 (Appendix) Reference Data
Slide 2: Supplementary Information
Supplementary Information Operating Results Analysis This report primarily uses “Adjusted Profit” to explain operating results and trend analysis. ・ Adjusted Profit: Profit from consolidated financial statements excluding one-off or non-recurring items; subsidies, etc. are included ・ This metric pro
Slide 3: 2Q Historical Performance Summary
1. 2Q Historical Performance Summary (Billion yen) FY2018-FY2026 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 2Q 2Q 2Q 2Q 2Q 2Q 2Q 2Q 2Q 2Q CAGR (%) Revenue 164.0 165.1 181.8 259.1 337.0 362.7 432.8 446.7 533.4 15.9% Gross profit 64.4 65.7 74.5 97.3 121.6 145.2 173.8 184.2 228.2 17
Slide 4: FY2026 2Q Results: Record-High Revenue and Operating Profit
2. FY2026 2Q Results: Record-High Revenue and Operating Profit • Revenue: +19.4%, driven by higher sales volume, an improved product mix, and favorable FX effects FY2025 FY2026 (Billion yen) FY2025 FY2026 YoY (Billion yen) 2Q 2Q YoY 1Q 1Q • Adjusted operating profit: +30.4% (organic: +30.4%, inorgan
Slide 5: Revised FY2026 Guidance: Record-High Revenue and Operating Profit Expected
3. Revised FY2026 Guidance: Record-High Revenue and Operating Profit Expected • Revenue: Despite continued uncertainty including the situation in the Middle East, business performance was largely in line with the February forecast, supported FY2026 Forecast by effective pricing and successful market
Slide 6: Assumptions for FY2026 Forecast (1)
4. Assumptions for FY2026 Forecast (1) (Billion yen) FY2025 results FY2026 forecast (In local currency) (bn yen) Feb. forecast Latest forecast YoY YoY YoY Adj YoY *1 YoY *1 Adj YoY Adj YoY Adj Adj OP margin Revenue operating Adj Adj OP margin Revenue operating Revenue operating vs Feb. profit OP mar
Slide 7: Assumptions for FY2026 Forecast (2)
4. Assumptions for FY2026 Forecast (2) (Billion yen) FY2025 results FY2026 forecast (In local currency) (bn yen) Feb. forecast Latest forecast YoY YoY YoY Adj YoY *1 YoY *1 Adj YoY Adj YoY Adj Adj OP margin Revenue operating Adj Adj OP margin Revenue operating Revenue operating vs Feb. profit OP mar
Slide 8: Market & Business Environment
5. Market & Business Environment DGL DGL Japan NIPSEA China Americas AOC (Pacific) (Europe) Automotive (Adjacencies) FY2026 2Q Decorative TUC TUB FY2026 Automotive 3Q (Adjacencies) (outlook) Decorative TUC TUB Automotive FY2026 (Adjacencies) (outlook) Decorative TUC TUB ■ Market (YoY) ■Business (vs.
Slide 9: Summary of Operating Results in Major Segments
6. Summary of Operating Results in Major Segments (Billion yen) FY2025 FY2026 YoY Overview 2Q 2Q Higher revenue, driven by decorative segment growth from higher sales of high-durability architectural and structural products, Revenue 52.3 61.6 +17.9% along with higher sales in the industrial and auto
Slide 10: Major Topics (1)
7. Major Topics (1) Buyback of European Automotive Business from Wuthelam Group (Announced August 7) ▶ Buyback of the European automotive coatings business, whose transfer to Wuthelam Group was both announced and Overview executed in August 2021 ▶ As a result of this buyback, Wuthelam Group no longe
Slide 11: Major Topics (2)
7. Major Topics (2) Integrated Report 2026 (Released June 30) • The Report was planned, structured, and edited around the key questions most frequently raised by investors to present more clearly where the MSV Journey stands today and the key discussion points going forward • Throughout each section
Slide 12: Major Topics (3)
7. Major Topics (3) Reorganization of Japan Group consolidated subsidiaries (Announced July 23) • Nippon Paint Surf Chemicals’ (NPSU) operations will be split and integrated into Outline of the Reorganization Nippon Paint Automotive Coatings (NPAC) and Nippon Paint Industrial Coatings (NPIU) (1) Eff
Slide 13: Supplemental Material
Supplemental Material 1. FY2026 2Q Results: Highlights … P.14 2. FY2026 2Q Results: By Segment … P.17 3. FY2026 1H Results … P.27 (Appendix) Reference Data
Slide 14: FY2026 2Q Results: Highlights
1. FY2026 2Q Results: Highlights 14
Slide 15: Highlights (Consolidated)
1-1. Highlights (Consolidated) (Billion yen) FY2025 vs FY2026 FY2022-FY2026 Revenue (Billion yen) FY2022 FY2023 FY2024 FY2025 FY2026 2Q 2Q Paint and Coatings 2Q 2Q 2Q 2Q 2Q YoY CAGR Business (%) (%) Revenue 337.0 362.7 432.8 446.7 533.4 19.4% 12.2% Adj operating profit 35.5 50.8 54.4 72.8 94.9 30.4%
Slide 16: Highlights (by Segment)
1-2. Highlights (by Segment) (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 2Q 2Q 2Q 2Q 2Q 2Q 2Q YoY CAGR (%) (%) Revenue 45.7 50.3 50.8 52.3 61.6 17.9% 7.8% Japan Adj operating profit 2.3 5.3 5.4 5.4 8.9 65.0% 40.6% Revenue 186.5 194.9 242.0 216.5 254.0 17.3% 8.0% N
Slide 17: FY2026 2Q Results: By Segment
2. FY2026 2Q Results: By Segment 17
Slide 18: Japan
2-1. Japan (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 2Q 2Q 2Q 2Q 2Q 2Q 2Q YoY CAGR (%) (%) Automotive coatings 7.4 10.0 9.2 9.3 10.1 7.9% 8.1% Decorative paints 12.8 12.7 13.0 12.3 15.6 26.3% 5.1% Industrial coatings 10.2 9.8 10.0 9.8 11.9 22.3% 3.9% Revenue Fin
Slide 19: NIPSEA China
2-2. NIPSEA China (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 2Q 2Q 2Q 2Q 2Q 2Q 2Q YoY CAGR (%) (%) Automotive coatings 10.0 12.8 14.0 14.6 18.4 26.5% 16.6% Decorative paints 104.9 109.5 128.3 96.8 103.0 6.3% -0.5% Revenue Industrial coatings 6.2 5.8 7.6 6.1 7.4 2
Slide 20: NIPSEA Except China
2-3. NIPSEA Except China*1 (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 2Q 2Q 2Q 2Q 2Q 2Q 2Q YoY CAGR (%) (%) Paint and Coatings FX Revenue 64.8 66.2 91.7 98.8 124.9 26.4% 17.8% Volumes Price/Mix Adj operating profit*2 9.6 14.2 14.9 17.9 27.4 53.1% 29.9% +LSD +DD c
Slide 21: PT Nipsea (Indonesia) & Betek Boya (Türkiye)
2-4. PT Nipsea (Indonesia) & Betek Boya (Tϋrkiye) (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 2Q 2Q 2Q 2Q 2Q 2Q 2Q YoY CAGR (%) (%) Paint and coatings FX Revenue 11.9 13.8 14.5 13.4 18.4 36.9% 11.4% Volumes Price/Mix PT Nipsea Adj operating profit 3.1 4.4 4.6 4.1
Slide 22: DGL (Pacific)
2-5. DGL (Pacific) (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 2Q 2Q 2Q 2Q 2Q 2Q 2Q YoY CAGR (%) (%) Decorative paints 24.5 26.5 32.6 29.5 37.6 27.6% 11.3% Industrial coatings 2.3 2.4 2.8 2.7 3.7 38.9% 12.5% Paint and Coatings Revenue Adjacencies business 21.5 23.
Slide 23: DGL (Europe)
2-6. DGL (Europe)* (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 2Q 2Q 2Q 2Q 2Q 2Q 2Q YoY CAGR (%) (%) Paint and Coatings Decorative paints 27.1 30.8 35.3 34.4 41.3 20.1% 11.0% FX Revenue Adjacencies business 3.6 5.6 8.0 7.4 8.8 19.3% 25.0% Volumes Price/Mix Total 3
Slide 24: Americas
2-7. Americas (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 2Q 2Q 2Q 2Q 2Q 2Q 2Q YoY CAGR (%) (%) Automotive coatings 7.6 9.9 12.2 11.1 13.1 18.1% 14.4% Decorative paints 17.8 18.2 21.8 19.5 21.2 8.6% 4.4% Revenue Paint and coatings Fine chemicals 0.3 0.4 0.6 0.6 0.
Slide 25: AOC
2-8. AOC (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 2Q 2Q 2Q 2Q 2Q 2Q 2Q YoY CAGR (%) (%) Paint and coatings FX Revenue - - - 48.0 59.1 23.0% - Volumes Price/Mix Adj operating profit - - - 17.1 * 21.5 26.0% - - - c.+12% Adj OP margin - - - 35.5% 36.4% 90bps - Maj
Slide 26: Quarterly Financial Performance Trends in Major Segments
2-9. Quarterly Financial Performance Trends in Major Segments (For reference) Seasonality overview *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 pro
Slide 27: FY2026 1H Results
((@)» NIPPON PAINT HOLDINGS CO, LTD. 3. FY2026 1H Results
Slide 28: 1H Highlights (Consolidated)
3-1. Highlights (Consolidated) (Billion yen) FY2025 vs FY2026 FY2022-FY2026 Revenue (Billion yen) Paint and Coatings FY2022 FY2023 FY2024 FY2025 FY2026 1H 1H 1H 1H 1H 1H 1H YoY CAGR Business (%) (%) Revenue 622.0 692.9 817.1 852.4 1,023.7 20.1% 13.3% Adj operating profit 63.1 88.7 101.1 128.7 172.4
Slide 29: 1H Highlights (by Segment)
3-2. Highlights (by Segment) (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 1H 1H 1H 1H 1H 1H 1H YoY CAGR (%) (%) Revenue 87.5 97.3 97.3 100.6 114.1 13.3% 6.9% Japan Adj operating profit 3.1 8.0 9.2 9.9 15.4 55.4% 49.3% Revenue 340.1 372.9 458.3 438.4 504.2 15.0% 10.
Slide 30: Japan & NIPSEA China
3-3. Japan & NIPSEA China (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 1H 1H 1H 1H 1H 1H 1H YoY CAGR (%) (%) Automotive coatings 16.0 20.4 18.5 19.7 20.2 2.4% 5.9% Decorative paints 23.2 23.8 23.7 23.1 27.8 20.0% 4.6% Japan Industrial coatings 19.3 19.1 19.3 19.5 2
Slide 31: NIPSEA Except China & PT Nipsea & Betek Boya
3-4. NIPSEA Except China & PT Nipsea (Indonesia) & Betek Boya (Türkiye) (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 1H 1H NIPSEA *1 1H 1H 1H 1H 1H YoY (%) CAGR (%) Except China Revenue 122.2 135.7 177.6 193.1 235.4 21.9% 17.8% *Including earnings of PT Nipsea (Ind
Slide 32: DGL (Pacific) & DGL (Europe)
3-5. DGL (Pacific) & DGL (Europe) (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 1H 1H 1H 1H 1H 1H 1H YoY CAGR (%) (%) DGL Decorative paints 48.2 53.3 62.7 59.7 73.8 23.7% 11.3% Industrial coatings 4.2 4.4 5.3 5.0 6.8 35.3% 12.5% (Pacific) Revenue Adjacencies busines
Slide 33: Americas & AOC
3-6. Americas & AOC (Billion yen) FY2025 vs FY2026 FY2022-FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 1H 1H 1H 1H 1H 1H 1H YoY CAGR (%) (%) Automotive coatings 14.6 19.1 23.9 22.5 25.2 11.8% 14.6% Americas Revenue Decorative paints 32.1 32.1 37.9 36.4 39.0 7.1% 5.0% Fine chemicals 0.7 0.8 1.2 1.1 1.3
Slide 34: 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
Slide 35: Reference Data
FY2026 2Q Financial Results Presentation Material Reference Data August 7, 2026 Nippon Paint Holdings Co., Ltd. ーContentsー 1. Historical Performance Trends 2 2. Trends in Consolidated Financial Results and Key Financial Data 4 3. Revenue & Operating Profit Transition by Segment 5 4. Revenue & Operat
Slide 36: Historical Performance Trends
1. Historical Performance Trends 【Historical Consolidated Profit & Loss Data】 (Billion yen) FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2018-FY2025 Full Year Full Year Full Year Full Year Full Year Full Year Full Year Full Year CAGR Revenue 627.7 692.0 772.6 998.3 1,309.0 1,442.6 1,638
Slide 37: NIPSEA Segment and DuluxGroup Breakdown
1. Historical Performance Trends (Billion yen) ■NIPSEA Segment FY2022*3 FY2023 FY2024*4 FY2025 FY2022-FY2025 Full Year Full Year Full Year Full Year CAGR Revenue 450.7 482.7 545.2 470.7 1.5% NIPSEA Adj operating profit 51.3 61.7 63.3 69.2 10.5% China Adj OP margin 11.4% 12.8% 11.6% 14.7% - Revenue 2
Slide 38: Trends in Consolidated Financial Results and Key Financial Data
2. Trends in Consolidated Financial Results and Key Financial Data <Consolidated earnings> (Billion yen) FY2023 FY2024*1 FY2025*2 FY2026 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q Revenue 330.2 362.7 393.0 356.7 1,442.6 384.3 432.8 405.6 416.0 1,638.7 405.7 446.7 465.9 455.9 1,774.2 490.3 53
Slide 39: Revenue & Operating Profit Transition by Segment: Japan
3. 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) FY2023 FY2024 FY2025 FY2026 1Q 2Q
Slide 40: Revenue & Operating Profit Transition by Segment: NIPSEA
3. 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) FY2023 FY2024*4 FY2025*5 FY2026 1Q
Slide 41: Contribution from DuluxGroup
4. Revenue & Operating Profit Contribution from DuluxGroup, Betek Boya, PT Nipsea, Alina, NPI, BNPA and AOC (Billion yen) FY2023*1 FY2024*1 FY2025*1 FY2026*1 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q Revenue 81.7 89.0 95.5 94.2 360.4 93.1 105.4 100.4 99.7 398.5 89.8 98.8 105.2 111.3 405.2 1
Slide 42: Contribution from Betek Boya and PT Nipsea
4. Revenue & Operating Profit Contribution from DuluxGroup, Betek Boya, PT Nipsea, Alina, NPI, BNPA and AOC (Billion yen) FY2023*1 FY2024*1 FY2025*1 FY2026*1 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q Revenue 16.9 16.5 29.5 12.2 75.1 22.8 26.8 13.7 31.7 95.0 17.0 24.4 26.9 26.5 94.8 23.3 34.
Slide 43: Summary of Historical Adjustments: Japan and DuluxGroup
5. Summary of Historical Adjustments (Billion yen) FY2023 FY2024 FY2025 FY2026 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q Operating profit 2.6 5.3 4.5 6.7 19.2 3.7 5.3 4.9 5.5 19.4 4.4 5.5 4.4 13.8 28.1 6.0 8.4 M&A-related expenses - - - - - - - - - - - - - - - - - PPA-related expenses - - -
Slide 44: Summary of Historical Adjustments: NIPSEA
5. Summary of Historical Adjustments (Billion yen) FY2023 FY2024 FY2025 FY2026 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q Operating profit 24.6 30.3 32.2 23.3 110.4 30.0 31.7 30.0 31.1 122.8 34.8 34.4 36.3 38.6 144.0 41.8 44.7 M&A-related expenses - - - - - - - - - - - - - - - - - PPA-relate
Slide 45: Summary of Historical Adjustments: Adjustments and Total
5. Summary of Historical Adjustments (Billion yen) FY2023 FY2024 FY2025 FY2026 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q Operating profit -0.3 -0.7 -0.8 -0.8 -2.6 -0.9 -0.8 -0.8 -1.7 -4.2 -2.1 -1.1 -0.6 -1.2 -5.0 -1.4 -2.0 M&A-related expenses - - - - - - - - -0.9 -0.9 -1.1 0.0 - - -1.1 - -