PUBLIC COMPANY; YEAR ESTABLISHED: 1881
REVENUE: $5.4 billion (2016: $4.3 billion)
Automotive coatings; Industrial coatings; Decorative coatings; Marine and Protective coatings
Hup Jin Goh, chairman of the board; Tetsushi Tado, president, representative director of the board; Manabu Minami, vice president, representative director of the board; Seiichiro Shirahata VP and director of the board; Atsushi Nagasaka, senior executive officer and director of the board; Shingo Aida, president, decorative coatings; Mitsuo Yamada, president, automotive coatings; Takeshi Shiotani, president, industrial coatings, Seiichiro Shirahata, president, marine coatings; Satoshi Nishimura, president, fine chemicals.
Nippon Paint manufactures a wide variety of paints and coatings including those for automobiles, construction, architecture, wood, steel structures, ships, metal, electrical equipment, machinery, roadways and household appliances among others. Nippon Paint is one of the largest paint manufacturers in Asia and has 33 manufacturing plants and produces more than one million tons of paint and coatings annually.
The company recently acquired Dunn-Edwards, a U.S.-based decorative coatings manufacturer, and Huizhou CRF, a China-based industrial wood coatings manufacturer. Dunn-Edwards Corporation has been the leading paint manufacturer in the Southwestern United States since 1925. Huizhou CRF has strength in the industrial wood coatings where the market has been growing rapidly. This acquisition will contribute to Nippon Paint Holdings’ vision of becoming a major player in the global paint market.
FY2017 Financial results
• Sales in fiscal 2017 increased by ¥ 91.2 billion year-on-year to ¥ 650.2 billion;
• In terms of organic (existing) business, sales in Asia increased 17 percent compared to the previous year, mainly in the segment of China’s decorative coatings, automotive coatings and industrial coatings, where the group has its strengths in branding and sales network, etc. In addition, automotive coatings in Japan increased;
• In terms of inorganic (M&A) projects, Nippon reinforced industrial furniture paint business, acquired Huizhou CRF, in China and decorative business Dunn-Edwards in the U.S.;
• Operating profit decreased by ¥5 billion compared to the previous year, mainly due to the impact of rising raw materials price in China.
Nippon Paint has established the Gennosuke Obata Fellowship Fund at the Harvard University Graduate School of Design (GSD). The fund will provide financial aid to GSD students from Asian countries, helping to attract, enroll, and support talented design scholars from the region as they work to become leaders in transforming the social and built environment.
“We are humbled to be able to have the opportunity to partner with Harvard University Graduate School of Design to invest into the future generation of design students through the Gennosuke Obata Fellowship. Nothing can be more rewarding than to be a small part of creating an impact or making a change in the lives of Asian students and returning home bringing with them a better future for themselves and their country,” said Wee Siew Kim, CEO of NIPSEA Group.
Nippon Paint’s gift of $300,000 to establish The Gennosuke Obata Fellowship Fund includes $50,000 for immediate use to benefit students at the GSD. The remainder of the gift is invested in the Harvard University endowment, leveraging these dollars for future support. As part of the Grounded Visionaries campaign, the GSD has increased the number of student fellowships by over 50 percent, and there are now 24 endowed funds expanding opportunities for talented design students.
The Harvard GSD partnership brings with it an additional program for the Regional Winners of AYDA - rewarding both from the Architecture and Interior Design categories, a six-week all-expense paid for Design Discovery program where the winners will have the privilege to learn and experience intensive studio work, lectures, workshops and field trips. Deeply immersed in a culture that is both challenging and rewarding, learning what education and work are like in design and planning professions emerging with a more profound understanding of the possibilities and the choices that lay before them.
The Gennosuke Obata Fellowship Fund represents Nippon Paint’s next step in investing in these young design leaders. This is in line with its commitment to nurturing the next generation of talented designers, reflected in its Asia Young Designer Award (AYDA). Launched in 2008, the event has become one of Asia’s premier design award, serving as a platform to inspire architecture and interior design students to develop their skills and to network with key industry players and peers in the region.
NIPSEA Group’s Inclusive Business strategy embraces the holistic approach by bridging the gap between education and poverty that essentially create the next generation of thinkers, innovators and game changers in their lives, families, communities, and country. This gift is a continuation of the company’s strategy to extend its reach through GSD’s global presence in countries where they are present in providing designs students an opportunity to quality education and optimize the opportunity to build an inclusive economy that allows everyone to thrive.