Nippon Paint Hldgs Co Ltd (NPCPF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen. I'm Wakatsuki, co-president of Nippon Paint Holdings. Thank you very much for taking the time to join us today despite your busy schedules. I would now like to explain the outline of our FY 2025 Q3 financial results. First, please turn to page two. Let me briefly explain the changes we've made to our disclosures starting this quarter. Regarding the background, as you know, I have held numerous meetings with investors and received various feedback directly and indirectly. And many investors, especially overseas institutional investors comparing us to peers said that while many overseas issuers publish adjusted figures excluding various adjustment items for comparison, Nippon Pen's detailed disclosures are good but often difficult to grasp at a glance. Some feedback also noted that the sheer volume of figures made it difficult to convey even very strong earnings results at first glance. In response to these comments, and with the primary goal of ensuring a correct understanding of our capabilities and proper peer comparison with our overseas competitors, we have now decided to proactively disclose adjusted profits. This is outlined in the upper section of the summary on page two. We also decided to change the terminology for growth rates and similar figures to align with industry standards like LSD, MSD, and HSD, low, mid, and high single digits. and separate them into price mix and volume components in our disclosure. We will continue to disclose information under this policy for the time being and will continue to listen to your constructive feedback to make further upgrades as necessary. Thank you for your continued support. Next, pages three and four are new additions. To help you understand our track record correctly through t...