4. Nippon Paint Holdings Co., Ltd.
Director, Representative Executive Officers & Co-Presidents: Yuichiro Wakatsuki & Wee Siew Kim
2021 Coatings Sales: $9.0 billion (￥998.3 billion*)
*Exchange rate $=￥110.4 (average)
In operation since 1881, Nippon Paint is one of the world’s major automotive and decorative paint suppliers. The company produces coatings for the automotive and marine markets, as well as for industrial products. It also makes paints for residential and commercial buildings, and for the DIY market. While most sales come from paint, Nippon also has a small section that sells fine chemicals and surface treatment products. While most of the company’s production facilities are in Asia, it also has facilities in Europe, North America, South America and Oceania.
Sales in 2021 for automotive coatings were approximately $1.2 billion. Decorative paints accounted for approximately $5.50 billion in sales. Sales of industrial coatings were approximately $768 million, and other paint accounted for approximately $1.57 billion.
The company has two subsidiaries in the United States under Nippon Paint Group: Nippon Paint Automotive Americas, Inc. (NPAA) — a market leader for automotive coatings — and Dunn-Edwards Corp. — a manufacturer of architectural and industrial coatings. Nippon Paint reports combined 2021 sales for these two companies of $775 million.
Located in Lansing, Illinois, NPAA was formed by the merger of NPA Coatings Inc. (Cleveland, Ohio), NB Coatings, Inc. (Lansing, Illinois), and NPAA, Inc. (Chattanooga, Tennessee), which took effect on January 1, 2021. The merger brought together the strong capabilities of each location so that NPAA is now a one-solution company for automotive coatings. NPAA offers a full range of coatings for automotive metal applications (pre-treatment, e-coat and body paint) and is a significant supplier to the Asian OEMs in this market. NPAA is also the leading supplier of liquid coatings for plastic automotive parts in North America. It provides a complete line of custom OEM coatings for automotive fascia, exterior trim, and interior trim applications, supplying all major OEMs. The President and Chief Executive Officer of NPAA is Robert Angart.
Dunn-Edwards operates over 150 company stores in California, Arizona, Nevada, New Mexico and Texas, and over 100 domestic and 250 international dealer locations in more than 12 countries. Dunn-Edwards is dedicated to preserving and protecting the environment and produces its coatings in a LEED® Gold-certified manufacturing plant. Based in Southern California, the 95-year-old company has approximately 1,800 employees and is led by President and CEO Karl Altergott.
Notes: In January 2022, Nippon Paint Holdings Co., Ltd. (NPHD) implemented organizational changes in order to focus solely on functions as a listed company and as a pure holding company, including M&A and fund procurement activities. Other functions involving the operations of partner companies in Japan were transferred to newly established Nippon Paint Corporate Solutions Co., Ltd., a wholly owned subsidiary of NPHD.
Also in January 2022, NPHD completed the acquisition of Cromology Holding SAS, a manufacturer of decorative paints and other paint-related products in Europe. In 1H FY2022, the company schedules to complete the acquisition of JUB delniška družba pooblaščenka d.d., a manufacturer of decorative paints, External Thermal Insulation Composite Systems (ETICS) and other paint-related products in Central and Eastern Europe.
Source: Financial results of FY2021, Annual Report, Integrated Report 2021, press releases, company contact