- Investor Relations (IR)
- 2023.08.10
Notice of Revision of Consolidated Earnings Forecast
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August 10, 2023
Company:Nippon Paint Holdings Co., Ltd.
Representative:Yuichiro Wakatsuki
Director, Representative Executive Officer & Co-President
Wee Siew Kim
Director, Representative Executive Officer & Co-President
(Code: 4612; TSE Prime)
Contact:Ryosuke Tanaka
Executive General Manager
Investor Relations, Sustainability and Public Relations
(TEL +81-50-3131-7419)
Notice of Revision of Consolidated Earnings Forecast
Nippon Paint Holdings Co., Ltd. (NPHD) is announcing that its Board of Directors approved a resolution today to revise the consolidated earnings forecast for the fiscal year ending December 31, 2023 (January 1, 2023 to December 31, 2023) released on February 14, 2023. This revision takes into consideration various factors including our recent earnings trends.
1. Revision of the Consolidated Earnings Forecast for the Fiscal Year Ending December 31, 2023 (January 1, 2023 to December 31, 2023)
| Revenue | Operating profit | Profit before tax | Profit attributable to owners of parent | |
| Previous forecast (A) | 1,400 | 140 | 134 | 98 |
| Revised forecast (B) | 1,450 | 158 | 151 | 110 |
| Amount of change (B-A) | 50 | 18 | 17 | 12 |
| Percentage change (%) | 3.6% | 12.9% | 12.7% | 12.2% |
| (For reference) Consolidated earnings results for FY2022 | 1,309 | 111.9 | 104.5 | 79.4 |
2. Reason for the revision
We have decided to increase our revenue forecast for FY2023, taking into consideration sales volume growth and market share gains mainly in the decorative paints business in Asia along with the yen’s depreciation against major currencies compared to the exchange rate assumed at the beginning of the current fiscal year. Furthermore, we anticipate a boost in revenue due to the recent inclusion of N.P.T.s.r.l., a European manufacturer specializing in sealants and adhesives, in the consolidation. This addition follows our successful acquisition of its shares on July 5, 2023.
Regarding profit items, we foresee higher earnings compared to our earlier forecast due to factors such as contributions from higher revenue due to sales volume growth, a lower raw material contribution ratio, and the yen’s depreciation, among other factors.
Based on the above factors, revenue, operating profit, profit before tax, and profit attributable to owners of parent for the fiscal year ending December 31, 2023 are expected to exceed previous forecasts. As a result, we are revising our forecast upward.
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