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Nippon Paint (4612) investor relations material
Nippon Paint Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue reached a record ¥523.7bn, up 12.4% YoY; adjusted operating profit also hit a record ¥84.2bn, up 15.3% organically, with no contribution from new M&A.
9M revenue rose 17.4% to ¥1,547.3bn and adjusted operating profit increased 27.2% to ¥256.6bn.
Growth reflected pricing, product mix, adjacency businesses, favorable FX and improved raw-material cost contribution.
Financial highlights
Q3 gross profit rose 13.1% to ¥219.8bn; gross margin increased 30 bps to 42.0%.
Q3 adjusted EPS rose 19.9% to ¥25.7; reported EPS increased 38.8% to ¥27.0, partly reflecting deferred-tax-liability reversal.
9M operating profit rose 23.9% to ¥229,288m and profit attributable to owners of parent increased 28.9% to ¥167,691m.
9M operating cash flow increased to ¥166,695m from ¥73,361m; investing cash outflow was ¥80,941m versus ¥300,578m, including prior-period acquisition payment.
Outlook and guidance
FY2026 adjusted guidance unchanged: revenue ¥2tn, adjusted operating profit ¥316bn, margin 15.8% and adjusted EPS ¥95.7; full-year results are expected to meet guidance.
FY2026 reported-basis forecast unchanged: revenue ¥2tn, operating profit ¥283bn, profit before tax ¥265bn and parent-attributable profit ¥189bn.
Q4 adjusted operating profit is forecast to decline 5%–10% YoY; adjusted EPS is expected to fall ~20%, below ¥24.5, amid lower margins, higher RMCC ratios, interest expense and tax rate.
Japan, NIPSEA Except China and DGL Pacific are expected to exceed segment profit guidance; NIPSEA China and DGL Europe are expected to fall short.
FY reported results include ~¥12bn of M&A-related and DGL Europe transformation expenses.
- USD 1.35bn deal adds Akzo Nobel paints operations across seven markets.4612
M&A announcement - Record Q2 results and raised full-year outlook, with strong growth and AOC acquisition impact.4612
Q2 2026 - Record Q1 revenue and profit growth driven by M&A, FX, and strong segment performance.4612
Q1 2026 - Record revenue and profit growth set a positive, disciplined outlook for FY2026.4612
Q4 2025 & Strategy update - Disciplined M&A, innovation, and asset assembly drive 15% EPS CAGR and market leadership.4612
Investor Day 2025 - Record Q3 profit and revenue, with strong M&A and AOC gains despite FX and market headwinds.4612
Q3 2025 - Record revenue and profit growth, guidance maintained, and major acquisition announced.4612
Q3 2024 - $4.35B acquisition to drive 30% EPS growth and expand US/Europe specialty chemicals presence.4612
M&A Announcement - Record Q1 revenue and profit, margin gains, and steady outlook despite FX and macro risks.4612
Q1 2025
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