www.kansai.com

2024 Coatings Sales: Approx. $3.93 billion USD (￥588.8 billion) for fiscal year ending March 31, 2025

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. Kansai Paint supports customers in a range of markets, including automotive, industrial, building and marine. The company 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’s core business areas include automotive coatings, industrial coatings, decorative coatings, and marine and protective coatings. For the fiscal year ended March 31, 2024, the company reported net income of ¥588.8 billion, up 4.7% year over year. Operating income was ¥52.1 billion, up 0.9% compared to the previous fiscal year.

Group performance in 2024 was driven by strong marine demand and improved product mix in the automotive sector, despite a decline in production volume of 220,000 units. Price improvements across the industrial and decorative segments helped offset difficult market conditions. Overall net sales were ¥164 billion, down from the prior year.

In India, net sales reached ¥142 billion, up from ¥137 billion in 2023. Automotive coatings saw significant growth, while decorative coatings declined due to consumer price sensitivity and increased competition.

In Europe and Turkey, sales rose to ¥157 billion from ¥136 billion. Growth was supported by new consolidation (e.g., Weilburger), though Turkey experienced currency-related challenges and a weaker economy.

In, Asia (excluding India), net sales declined to ¥69 billion from ¥72 billion due to reduced production volumes at Japanese automotive manufacturers. However, steady growth in industrial and decorative segments was noted.

In Africa, net sales rose to ¥47 billion, up from ¥43 billion. Growth was driven by strong market share in East Africa and increased sales of mid-tier products in South Africa. OEM business also launched in large retail channels.

In North America, net sales increased to ¥10 billion from ¥9 billion. Growth was attributed to strong performance in automotive parts and power sports coatings.

Notes: In 2024, Kansai Paint faced measurable impact from global tariff issues. Automotive segment costs rose due to a production shift from Japan to the U.S. and higher tariffs on raw materials. Additionally, broader economic slowdowns linked to tariff-driven GDP declines in multiple countries affected demand.

• Estimated FY2025 revenue impact: ¥2.5 billion decrease
• Estimated FY2025 operating income impact: ¥0.4 billion decrease

These challenges have been incorporated into the company’s financial guidance moving forward.

In May 2024, Kansai Paint announced the completion of Kansai Helios’ acquisition of Weilburger Coatings GmbH and Weilburger Asia Ltd., expanding its B2B industrial coatings portfolio. The deal strengthens Kansai’s position in rail, heat-resistant and nonstick coatings, and follows recent acquisitions in the rail sector. Also in May, Kansai Paint unveiled six new global trend colors under the theme “Re,” reflecting renewal and sustainability.

Source: Annual Report, press releases