8. Kansai Paint Co. Ltd.
President and CEO: Mori Kunishi
2020 Coatings Sales: Approx. $3.29 billion for fiscal year ended March 31, 2021
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, 2021, the company reported net income of 364,620 million yen, down 10.4% compared to the fiscal year that ended March 31, 2020. Operating income for the same time period was 31,228 million yen, down 0.9% compared to the prior-year period. In Japan, the company saw net sales decrease 7.8%, as sales in the automotive coatings sector and industrial coatings sector decreased. However, the decorative coatings sector saw an increase in sales as demand increased in the DIY market. In India, net sales fell 10.5% due to a decrease in automotive production in April through June 2020. The decorative coatings sector in India also saw a decrease in sales. Net sales were down in Asia by 17.7%. While China saw a slight decrease in sales compared to the 2019 timeframe, sales in Indonesia, Thailand and Malaysia were down due to a decrease in automobile production for the year because of the effects of COVID-19. A sluggish economy in South Africa and neighboring countries resulted in sales in Africa falling by 21.9%. Sales decreased 3.2% in Europe.
Source: Annual Report, press releases