Chugoku Marine Paints (4617) Company presentation summary

Company profile and history

• Founded in Hiroshima in 1917, now with over 100 years of expertise in marine coatings and a strong global presence.

• Holds approximately 60% domestic market share in marine coatings and a leading overseas share.

• Operates about 60 locations in 20 countries, with 2,198 employees as of March 2026.

• Net sales reached ¥139.4 billion in FY2025, with major shareholders including The Master Trust Bank of Japan.

• Expanded globally since the 1960s, diversifying into industrial and container coatings.

Product portfolio and market position

• Marine coatings account for 87.8% of sales, with industrial and container coatings making up the rest.

• Top domestic share in UV-curable coatings for flooring and heavy anti-corrosion coatings for power plants.

• Major markets include Japan, China, Southeast Asia, Korea, Europe, and the US.

• Marine coatings business benefits from stable ship repair demand and fluctuating new ship demand.

• Maintains strong technical capabilities and customer relationships, creating high entry barriers.

Financial performance and growth

• Achieved record-high sales and profits for three consecutive years through management reforms.

• FY2025 net sales were ¥139.3 billion, with operating profit of ¥17.4 billion and ROE of 12.3%.

• Targets for FY2030 include ¥180 billion in sales, ¥23 billion operating profit, and ROE of 12% or higher.

• Plans strategic investments of ¥64.5 billion in production and R&D over the next five years.

• Dividend policy aims for progressive dividends and a DOE of approximately 5%.