8. Kansai Paint Co. Ltd.
President and CEO: Mori Kunishi
Coatings Sales: Approx. $3.78 billion for fiscal year ended March 31, 2020
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 China, India and Southeast Asia, and has operations in Europe, the Americas and the Middle East. The company supports customers in a range of markets, including automotive, industrial, building and marine. It employs approximately 16,287 individuals.
Kansai Paint Co. Ltd.’s core business areas are automotive coatings, industrial coatings, decorative coatings, and marine and protective coatings. For the fiscal year ended March 31, 2020, the company reported net income of 406,886 million yen, down 4.8% compared to the fiscal year that ended March 31, 2019. Operating income for the same time period was 31,510 million yen, down 2.5% compared to the prior year period. In Japan, the company saw net sales decrease 2.7%, due to lower sales in automotive coatings, industrial machinery coatings, marine coatings and automotive refinish coatings. In India, net sales fell 6% due to a drop in automotive coatings sales in the region. Net sales were down in Asia by 5.7% due to a drop in car production and weakened demand for construction machinery in China, as well as a decline in automotive coatings in Indonesia and Thailand. With a sluggish economy in South Africa and neighboring countries, sales in Africa were down 9.4%. Sales decreased 5.2% in Europe and increased 1.1% in North America.
Source: Annual Report, press releases
Notes: In February 2019, Kansai Plascon, a subsidiary of Kansai Paint Co. Ltd., launched anti-mosquito paint in Uganda with the goal of supporting the country’s efforts of being malaria-free by 2021.
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