9. Kansai Paint Co. Ltd.
President and CEO: Kunishi Mouri
2021 Coatings Sales: Approx. $3.44 billion for
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. Kansai Paint specializes in the manufacture and sale of many types of coatings, as well as the design, manufacture and sale of coating equipment. It employs approximately 15,908 people.
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 ￥419,190 million, up 15.0% compared to the fiscal year that ended March 31, 2021. Operating income for the same time period was ￥30,096 million, down 3.6% compared to the prior-year period. In Japan, the company saw net sales decrease 3.1%, as sales in the automotive coatings sector remained unchanged, sales in the industrial coatings sector increased, and sales in the decorative coatings sector saw a decrease. In India, net sales increased 32.9% compared to the prior-year period, despite the impact of a second wave of COVID-19. The increase was attributed to the contrast with the previous year, when lockdowns to prevent the spread of COVID-19 had a serious impact on the sales. Net sales were up in Asia by 16.4%, due to an increase in sales of automotive coatings in China. In Africa, sales increased by 29.4%, and in Europe, sales increased by 27.8%.
Notes: As noted earlier in this article, Kansai Paint has agreed to sell its Africa business to AkzoNobel, subject to approvals by relevant authorities.
Source: Annual Report, press releases