November 12, 2025
Chugoku Marine Paints, Ltd.
(TSE Code: 4617)
Note: Figures presented in tables and graphs are expressed in millions of yen unless otherwise indicated.
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Outline
1. Consolidated Earnings Summary
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✔ 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 sales Up 8.9% YoY
68,507
62,935
68,507Operating profit
Up 14.1％ YoY
62,935
Gross margin
33.1%
34.1%
2025年度 上 期
2025年度 上 期
2024年度 上 期
2025年度 1Q
2025年度 1Q
2024年度 上 期
9,051
7,929
1H FY2024
1H FY2025
1H FY2024 1H FY2025
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Consolidated 1H earnings highlights
Profitability improved due to selling price revisions and an improved product mix, with the gross margin up 1.0pp YoY.
The operating profit margin rose to 13.2%, as higher gross profit absorbed an increase in SG&A expenses (mainly
personnel and transportation expenses).
While selling price hikes contributed about ¥3,490 million to operating profit, higher raw material procurement costs depressed the indicator by ¥1,500 million (both are estimates).
Profit attributable to owners of parent declined, reflecting the absence of a ¥2,493 million gain on sale of non-current assets
recorded in 1H FY2024.
1H FY2024 | 1H FY2025 | Change | % change | |||
Net sales | 62,935 | 100.0% | 68,507 | 100.0% | ＋5,572 | ＋8.9% |
Gross profit | 20,841 | 33.1% | 23,367 | 34.1% | ＋2,526 | ＋12.1% |
SG&A expenses | 12,911 | 20.5% | 14,316 | 20.9% | ＋1,405 | ＋10.9% |
Operating profit | 7,929 | 12.6% | 9,051 | 13.2% | ＋1,121 | ＋14.1% |
Ordinary profit | 8,507 | 13.5% | 8,815 | 12.9% | ＋308 | ＋3.6% |
Profit before income taxes | 10,982 | 17.4% | 8,819 | 12.9% | －2,162 | －19.7% |
Profit attributable to owners of parent | 8,332 | 13.2% | 5,914 | 8.6% | －2,417 | －29.0% |
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Consolidated income statement