The 2019 Global Top 10: No. 8 Kansai Paint Co. Ltd.
8. Kansai Paint Co. Ltd.
President and CEO: Hiroshi Ishino
Coatings Sales: Approx. $3.9 billion for fiscal year ended March 31, 2019
Established in 1918, Kansai Paint Co. Ltd. is one of the largest coatings manufacturers in Japan and Africa. The company also holds leading market positions in India, China and Southeast Asia. Kansai Paint Co. Ltd. also has operations in Europe, the Americas and the Middle East. With approximately 14,828 employees, the company supports customers in a range of markets, including automotive, industrial, building and marine.
Core business areas of Kansai Paint Co. Ltd. include automotive coatings, industrial coatings, decorative coatings, and marine and protective coatings. For the fiscal year ended March 31, 2019, the company reported net income of ¥427.4 billion, an increase of 6.3% compared to the fiscal year that ended March 31, 2018. In Japan, the company saw net sales increase by 3.7%, due in part to a robust automotive and industrial coatings sector. Strong demand in the decorative coating sector in India resulted in a sales increase of 3.4% in that country, and car production by the Japanese car manufacturers contributed to growth in sales in that region of 0.5%. In Africa, net sales increased by 4.3%, due in part to strong demands in East Africa. Sales increased by 23.8% in Europe.
In the company’s 2018 annual report, which reports sales results from March 31, 2017 to March 31, 2018, Kansai reported that sales in the Automotive Coatings business accounted for 34% of sales. The Industrial Coatings business accounted for 27% of sales, the Decorative Coatings business accounted for 26% of sales, and the Marine and Protective Coatings business accounted for 6% of sales.
Source: Annual Report, press releases
Notes: In 2018, Kansai Paint and Jotun signed an agreement to expand their existing alliance in the marine segment to the protective market. Covering the global protective coatings segment, the agreement will allow the companies to leverage technology, segment understanding and global networks to provide innovative protective coatings solutions that safeguard assets and optimize performance.
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