Balance Sheet Nippon Paint Holdings Co., Ltd.

Equities

4612

JP3749400002

Commodity Chemicals

Market Closed - Japan Exchange Other stock markets 02:30:00 2026-04-10 am EDT			5-day change	1st Jan Change
1,013.00 ^JPY	+0.30%		+2.86%	-3.29%

Mar. 03	Tranche Update on Nippon Paint Holdings Co., Ltd.'s Equity Buyback Plan announced on October 9, 2025.	CI
Feb. 27	Nippon Paint Holdings Co., Ltd.'s Equity Buyback announced on October 9, 2025, has closed with 29,410,000 shares, representing 1.26% for ¥29,999.98 million.	CI

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Published financial data: NIPPON PAINT HOLDINGS CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	998B	1,309B	1,443B	1,639B	1,774B
Total Revenues	998B	1,309B	1,443B	1,639B	1,774B
Cost of Goods Sold, Total	620B	821B	866B	981B	1,024B
Gross Profit	378B	488B	576B	657B	750B
Selling General & Admin Expenses, Total	294B	383B	420B	481B	503B
R&D Expenses	-	-	-	-	-
Other Operating Expenses	-372M	-2.87B	-5.18B	-3.75B	-2.85B
Other Operating Expenses, Total	294B	380B	415B	478B	500B
Operating Income	84.37B	107B	161B	180B	251B
Interest Expense, Total	-5.59B	-8.36B	-8.84B	-13.4B	-21.72B
Interest And Investment Income	3.91B	4.23B	6.14B	9.95B	14.58B
Net Interest Expenses	-1.68B	-4.13B	-2.7B	-3.44B	-7.14B
Income (Loss) On Equity Invest.	2.19B	-577M	201M	2.57B	2.11B
Currency Exchange Gains (Loss)	-177M	289M	42M	-406M	-1.16B
Other Non Operating Income (Expenses)	3.13B	2.29B	2.01B	1.18B	3.38B
EBT, Excl. Unusual Items	87.83B	105B	161B	180B	248B
Restructuring Charges	-	-2.21B	-	-	-
Impairment of Goodwill	1.53B	21M	-	1.47B	-
Gain (Loss) On Sale Of Investments	-1.5B	281M	568M	994M	1.7B
Gain (Loss) On Sale Of Assets	-1.4B	1.49B	1.3B	-69M	6.56B
Asset Writedown	-	-	-987M	-611M	-5.41B
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	86.47B	104B	161B	182B	251B
Income Tax Expense	19.24B	25.04B	42.5B	52.85B	69.39B
Earnings From Continuing Operations	67.22B	79.45B	119B	129B	181B
Earnings Of Discontinued Operations	890M	-	-	-	-
Net Income to Company	68.11B	79.45B	119B	129B	181B
Minority Interest	-542M	-33M	-521M	-1.34B	-1.37B
Net Income - (IS)	67.57B	79.42B	118B	127B	180B
Net Income to Common Incl Extra Items	67.57B	79.42B	118B	127B	180B
Net Income to Common Excl. Extra Items	66.68B	79.42B	118B	127B	180B
Per Share Items
Net EPS - Basic	29.41	33.82	50.45	54.22	76.66
Basic EPS - Continuing Operations	29.03	33.82	50.45	54.22	76.66
Basic Weighted Average Shares Outstanding	2.3B	2.35B	2.35B	2.35B	2.35B
Net EPS - Diluted	29.41	33.82	50.44	54.21	76.66
Diluted EPS - Continuing Operations	29.03	33.82	50.44	54.21	76.66
Diluted Weighted Average Shares Outstanding	2.3B	2.35B	2.35B	2.35B	2.35B
Normalized Basic EPS	23.66	27.91	42.52	47.26	65.43
Normalized Diluted EPS	23.66	27.91	42.52	47.26	65.43
Dividend Per Share	9	11	14	15	16
Payout Ratio	43.11	29.57	34	27.66	20.9
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	118B	154B	213B	244B	321B
EBITA	84.37B	107B	161B	180B	251B
EBIT	84.37B	107B	161B	180B	251B
Effective Tax Rate - (Ratio)	22.26	23.97	26.32	29.11	27.69
Normalized Net Income	54.35B	65.54B	99.86B	111B	153B
Non-Cash Pension Expense	545M	-836M	503M	430M	728M
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	-	-	-	-
Research And Development Expense From Footnotes	24.25B	28.11B	30B	32.94B	37.03B

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	139B	243B	290B	288B	424B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	139B	243B	290B	288B	424B
Accounts Receivable, Total	267B	311B	318B	377B	409B
Total Receivables	267B	311B	318B	377B	409B
Inventory	133B	176B	176B	202B	225B
Prepaid Expenses	6.63B	7.54B	7B	9.98B	11.04B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	55.59B	28.14B	99.35B	177B	209B
Total Current Assets	601B	766B	890B	1,055B	1,279B
Net Property Plant And Equipment	302B	377B	410B	479B	563B
Long-term Investments	94.73B	67.01B	77.74B	105B	83.99B
Goodwill	653B	826B	898B	971B	1,469B
Other Intangibles, Total	300B	400B	431B	457B	614B
Deferred Tax Assets Long-Term	5.02B	7.28B	7.54B	4.59B	9.13B
Other Long-Term Assets, Total	4M	6M	4M	4M	4M
Total Assets	1,955B	2,442B	2,713B	3,071B	4,018B
Liabilities
Accounts Payable, Total	210B	257B	262B	293B	289B
Accrued Expenses, Total	23.15B	27.65B	31.61B	38.92B	48.93B
Short-term Borrowings	14.73B	10.43B	443M	558M	389M
Current Portion of Long-Term Debt	50.38B	85.54B	55.55B	146B	124B
Current Portion of Leases	-	-	-	-	-
Current Income Taxes Payable	33.35B	36.79B	45.94B	52.43B	63.34B
Other Current Liabilities	41.34B	50.96B	42.01B	51.74B	66.84B
Total Current Liabilities	373B	468B	438B	582B	593B
Long-Term Debt	458B	626B	684B	614B	1,298B
Long-Term Leases	-	-	-	-	-
Pension & Other Post Retirement Benefits	18.57B	16.36B	17.13B	17.72B	18.66B
Deferred Tax Liability Non Current	74.04B	91.58B	103B	114B	153B
Other Non Current Liabilities	63.23B	84.75B	104B	134B	132B
Total Liabilities	986B	1,287B	1,345B	1,461B	2,195B
Common Stock, Total	671B	671B	671B	671B	671B
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	228B	273B	351B	436B	578B
Treasury Stock	-6.15B	-6.1B	-6.05B	-6.02B	-26.88B
Comprehensive Income and Other	66.23B	211B	342B	490B	582B
Total Common Equity	960B	1,149B	1,358B	1,591B	1,804B
Minority Interest	9.18B	6.53B	9.79B	19.24B	19.21B
Total Equity	969B	1,155B	1,368B	1,610B	1,823B
Total Liabilities And Equity	1,955B	2,442B	2,713B	3,071B	4,018B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.35B	2.35B	2.35B	2.35B	2.33B
ECS Total Common Shares Outstanding	2.35B	2.35B	2.35B	2.35B	2.33B
Book Value / Share	408.61	489.19	578.35	677.38	774.87
Tangible Book Value	6.63B	-76.75B	29.8B	163B	-279B
Tangible Book Value Per Share	2.82	-32.68	12.69	69.32	-119.97
Total Debt	523B	722B	740B	760B	1,422B
Net Debt	384B	479B	450B	472B	998B
Debt Equivalent of Unfunded Proj. Benefit Obligation	18.02B	14.7B	13.49B	7.69B	2.31B
Minority Interest, Total (Incl. Fin. Div)	9.18B	6.53B	9.79B	19.24B	19.21B
Equity Method Investments, Total	31.41B	31.39B	28.2B	30.24B	30.06B
Inventories - Raw Materials, Total	49.4B	63.16B	58.79B	71.74B	79.84B
Inventories - Work In Process, Total	4.85B	6.2B	6.43B	6.71B	7.38B
Inventories - Finished Goods, Total	78.55B	107B	110B	124B	138B
Inventories - Others	1M	2M	-	1M	1M
Full Time Employees	30.25K	33.76K	34.39K	38.56K	38.48K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	86.47B	104B	162B	182B	251B
Depreciation & Amortization - CF	33.89B	47.12B	52.28B	63.69B	70.06B
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	33.89B	47.12B	52.28B	63.69B	70.06B
(Gain) Loss From Sale Of Asset	-	-	-	-	297M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-2.19B	577M	-201M	-2.57B	-2.11B
Other Operating Activities, Total	-25.07B	-31.41B	-35.63B	-46.02B	-60.8B
Change In Accounts Receivable	-27.13B	3.02B	8.86B	-18.84B	-9.66B
Change In Inventories	-29B	-12.72B	15.86B	733M	765M
Change In Accounts Payable	33.56B	2.64B	-14.61B	-4.99B	-35.9B
Change in Other Net Operating Assets	-3.1B	-1.37B	1.71B	-6.13B	-25.7B
Cash from Operations	67.43B	112B	190B	167B	188B
Capital Expenditure	-34.93B	-37.44B	-35.65B	-49B	-42.51B
Sale of Property, Plant, and Equipment	1.16B	5.13B	4.04B	2.67B	10.84B
Cash Acquisitions	-119B	-172B	-	-	-300B
Sale (Purchase) of Intangible assets	-4.45B	-3.58B	-2.46B	-2.76B	-
Investment in Marketable and Equity Securities, Total	47.38B	41.85B	-71.76B	-100B	7.32B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-2.43B	3.46B	39M	-	-
Other Investing Activities, Total	9.79B	-2.78B	-10.18B	1.1B	2.3B
Cash from Investing	-102B	-165B	-116B	-148B	-322B
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	40.69B	270B	113B	73B	808B
Total Debt Issued	40.69B	270B	113B	73B	808B
Short Term Debt Repaid, Total	-3.25B	-5.72B	-10.53B	-1.4B	-231M
Long-Term Debt Repaid, Total	-54.57B	-75.56B	-86.24B	-56.05B	-470B
Total Debt Repaid	-57.82B	-81.27B	-96.76B	-57.45B	-471B
Issuance of Common Stock	-5.21B	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-20.91B
Common Dividends Paid	-29.13B	-23.48B	-40.28B	-35.22B	-37.58B
Common & Preferred Stock Dividends Paid	-29.13B	-23.48B	-40.28B	-35.22B	-37.58B
Other Financing Activities, Total	-10.84B	-19.55B	-14.62B	-17.71B	-24B
Cash from Financing	-62.31B	146B	-38.66B	-37.38B	255B
Foreign Exchange Rate Adjustments	3.92B	9.99B	11.45B	14.77B	15.42B
Miscellaneous Cash Flow Adjustments	-1M	785M	479M	1.96B	342M
Net Change in Cash	-93.32B	104B	47.05B	-1.35B	136B
Supplemental Items
Cash Interest Paid	5.62B	8.55B	8.85B	13.35B	22.49B
Cash Income Tax Paid (Refund)	22.86B	32.86B	36.53B	47.36B	61.08B
Levered Free Cash Flow	53.29B	71.38B	41.89B	2.86B	116B
Unlevered Free Cash Flow	56.78B	76.61B	47.42B	11.23B	129B
Change In Net Working Capital	-9.54B	-3.61B	67.41B	113B	54.75B
Net Debt Issued / Repaid	-17.12B	189B	16.24B	15.55B	337B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	2.95	3.04	3.9	3.89	4.42
Return on Total Capital	3.87	3.97	5.05	5.02	5.58
Return On Equity %	8.06	7.48	9.43	8.64	10.55
Return on Common Equity	8.73	7.53	9.45	8.64	10.59
Margin Analysis
Gross Profit Margin %	37.9	37.24	39.94	40.12	42.29
SG&A Margin	29.48	29.29	29.13	29.37	28.33
EBITDA Margin %	11.85	11.78	14.79	14.86	18.07
EBITA Margin %	8.45	8.18	11.16	10.97	14.12
EBIT Margin %	8.45	8.18	11.16	10.97	14.12
Income From Continuing Operations Margin %	6.73	6.07	8.25	7.85	10.21
Net Income Margin %	6.77	6.07	8.21	7.77	10.13
Net Avail. For Common Margin %	6.68	6.07	8.21	7.77	10.13
Normalized Net Income Margin	5.44	5.01	6.92	6.77	8.65
Levered Free Cash Flow Margin	5.34	5.45	2.9	0.17	6.53
Unlevered Free Cash Flow Margin	5.69	5.85	3.29	0.69	7.29
Asset Turnover
Asset Turnover	0.56	0.6	0.56	0.57	0.5
Fixed Assets Turnover	3.63	3.86	3.67	3.69	3.41
Receivables Turnover (Average Receivables)	4	4.53	4.59	4.72	4.51
Inventory Turnover (Average Inventory)	5.47	5.32	4.93	5.19	4.79
Short Term Liquidity
Current Ratio	1.61	1.64	2.03	1.81	2.16
Quick Ratio	1.09	1.18	1.39	1.14	1.41
Operating Cash Flow to Current Liabilities	0.18	0.24	0.43	0.29	0.32
Days Sales Outstanding (Average Receivables)	91.21	80.61	79.61	77.6	80.85
Days Outstanding Inventory (Average Inventory)	66.78	68.61	74.07	70.51	76.21
Average Days Payable Outstanding	102.85	98.46	109.37	100.68	101.46
Cash Conversion Cycle (Average Days)	55.14	50.77	44.31	47.43	55.6
Long Term Solvency
Total Debt/Equity	53.99	62.5	54.07	47.2	77.99
Total Debt / Total Capital	35.06	38.46	35.1	32.06	43.82
LT Debt/Equity	47.27	54.19	49.98	38.1	71.18
Long-Term Debt / Total Capital	30.7	33.35	32.44	25.89	39.99
Total Liabilities / Total Assets	50.45	52.69	49.58	47.57	54.62
EBIT / Interest Expense	15.08	12.8	18.22	13.42	11.54
EBITDA / Interest Expense	21.14	18.43	24.14	18.18	14.76
(EBITDA - Capex) / Interest Expense	14.9	13.96	20.1	14.52	12.8
Total Debt / EBITDA	4.42	4.68	3.47	3.12	4.44
Net Debt / EBITDA	3.25	3.11	2.11	1.94	3.11
Total Debt / (EBITDA - Capex)	6.28	6.19	4.16	3.91	5.11
Net Debt / (EBITDA - Capex)	4.61	4.11	2.53	2.42	3.59
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	27.8	31.13	10.2	13.6	8.27
Gross Profit, 1 Yr. Growth %	16.96	28.87	18.17	14.11	14.11
EBITDA, 1 Yr. Growth %	4.08	30.35	38.39	14.15	31.64
EBITA, 1 Yr. Growth %	0.31	26.87	50.47	11.66	39.31
EBIT, 1 Yr. Growth %	0.31	26.87	50.47	11.66	39.31
Earnings From Cont. Operations, 1 Yr. Growth %	-1.4	18.19	49.77	8.13	40.8
Net Income, 1 Yr. Growth %	51.34	17.54	49.18	7.48	41.2
Normalized Net Income, 1 Yr. Growth %	68.77	20.58	52.38	11.15	38.24
Diluted EPS Before Extra, 1 Yr. Growth %	4.3	16.51	49.15	7.47	41.41
Accounts Receivable, 1 Yr. Growth %	15.05	16.63	2.13	18.57	8.5
Inventory, 1 Yr. Growth %	41.19	32.57	-0.25	15.3	11.19
Net Property, Plant and Equip., 1 Yr. Growth %	21.51	24.9	8.8	16.78	17.51
Total Assets, 1 Yr. Growth %	21.03	24.92	11.1	13.2	30.81
Tangible Book Value, 1 Yr. Growth %	-107.72	-1.26K	-138.82	446.41	-271.54
Common Equity, 1 Yr. Growth %	68.81	19.73	18.23	17.13	13.38
Cash From Operations, 1 Yr. Growth %	-23.86	66.62	68.89	-11.78	12.02
Capital Expenditures, 1 Yr. Growth %	38.53	7.2	-4.78	37.43	-13.23
Levered Free Cash Flow, 1 Yr. Growth %	-4.26	33.96	-41.31	-93.17	3.95K
Unlevered Free Cash Flow, 1 Yr. Growth %	-4.08	34.92	-38.1	-76.31	1.05K
Dividend Per Share, 1 Yr. Growth %	0	22.22	27.27	7.14	6.67
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	20.11	29.45	20.21	11.89	10.9
Gross Profit, 2 Yr. CAGR %	17.15	22.77	23.4	16.13	14.11
EBITDA, 2 Yr. CAGR %	2.45	16.48	34.31	25.69	22.59
EBITA, 2 Yr. CAGR %	-1.47	12.81	38.16	29.62	24.72
EBIT, 2 Yr. CAGR %	-1.47	12.81	38.16	29.62	24.72
Earnings From Cont. Operations, 2 Yr. CAGR %	9.3	7.95	33.05	27.26	23.39
Net Income, 2 Yr. CAGR %	35.66	33.37	32.42	26.62	23.19
Normalized Net Income, 2 Yr. CAGR %	22.94	42.65	35.55	30.14	23.96
Diluted EPS Before Extra, 2 Yr. CAGR %	12.61	10.24	31.82	26.61	23.28
Accounts Receivable, 2 Yr. CAGR %	11.98	15.84	9.14	10.04	13.42
Inventory, 2 Yr. CAGR %	19.59	36.81	15	7.25	13.23
Net Property, Plant and Equip., 2 Yr. CAGR %	12.05	23.19	16.57	12.72	17.14
Total Assets, 2 Yr. CAGR %	14.99	22.96	17.81	12.14	21.69
Tangible Book Value, 2 Yr. CAGR %	-74.9	-5.46	112.06	45.64	206.15
Common Equity, 2 Yr. CAGR %	31.73	42.17	18.98	17.68	15.24
Cash From Operations, 2 Yr. CAGR %	-14.42	12.63	67.76	22.06	-0.59
Capital Expenditures, 2 Yr. CAGR %	23.87	21.86	1.03	14.39	9.2
Levered Free Cash Flow, 2 Yr. CAGR %	27.22	13.25	-11.33	-79.98	66.26
Unlevered Free Cash Flow, 2 Yr. CAGR %	25.74	13.76	-8.62	-61.71	65.18
Dividend Per Share, 2 Yr. CAGR %	0	10.55	24.72	16.77	6.9
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	16.73	23.67	22.69	17.96	10.67
Gross Profit, 3 Yr. CAGR %	16.03	20.93	21.22	20.23	15.45
EBITDA, 3 Yr. CAGR %	7.24	11.01	23.36	27.22	27.64
EBITA, 3 Yr. CAGR %	2.87	7.19	24.18	28.69	32.77
EBIT, 3 Yr. CAGR %	2.87	7.19	24.18	28.69	32.77
Earnings From Cont. Operations, 3 Yr. CAGR %	0.45	12.19	20.4	24.16	31.62
Net Income, 3 Yr. CAGR %	14.21	29.33	38.44	23.52	31.31
Normalized Net Income, 3 Yr. CAGR %	21.53	22.14	45.82	26.87	32.79
Diluted EPS Before Extra, 3 Yr. CAGR %	0.87	13.9	21.93	23.15	31.36
Accounts Receivable, 3 Yr. CAGR %	14.19	13.51	11.08	12.2	9.53
Inventory, 3 Yr. CAGR %	26.37	23.77	23.14	15.1	8.55
Net Property, Plant and Equip., 3 Yr. CAGR %	29	16.18	18.19	16.64	14.29
Total Assets, 3 Yr. CAGR %	27.02	18.21	18.87	16.25	18.05
Tangible Book Value, 3 Yr. CAGR %	-68.93	-9.96	-29.73	190.72	53.81
Common Equity, 3 Yr. CAGR %	22.65	27.6	33.7	18.36	16.23
Cash From Operations, 3 Yr. CAGR %	3.1	6.86	28.92	35.41	18.62
Capital Expenditures, 3 Yr. CAGR %	23.82	18.04	12.24	11.94	4.32
Levered Free Cash Flow, 3 Yr. CAGR %	44.78	29.43	-9.03	-62.28	17.5
Unlevered Free Cash Flow, 3 Yr. CAGR %	50.16	28.73	-7.13	-41.73	19.09
Dividend Per Share, 3 Yr. CAGR %	0	6.92	15.87	18.56	13.3
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	10.69	16.68	18.11	18.82	17.83
Gross Profit, 5 Yr. CAGR %	7.74	14.74	18.93	18.99	18.32
EBITDA, 5 Yr. CAGR %	-0.58	8.11	17.34	16.67	23.05
EBITA, 5 Yr. CAGR %	-4.04	4.34	15.75	15.65	24.4
EBIT, 5 Yr. CAGR %	-1.55	7.39	15.75	15.65	24.4
Earnings From Cont. Operations, 5 Yr. CAGR %	-0.3	6.75	12.4	17.99	21.59
Net Income, 5 Yr. CAGR %	10.48	16.43	21.17	28.24	32.13
Normalized Net Income, 5 Yr. CAGR %	10.93	19.47	26.95	25.28	36.65
Diluted EPS Before Extra, 5 Yr. CAGR %	2.54	7.88	12.27	18.82	22.47
Accounts Receivable, 5 Yr. CAGR %	12.96	13.55	12.14	12.11	12.01
Inventory, 5 Yr. CAGR %	19.02	20.81	21.69	16.87	19.07
Net Property, Plant and Equip., 5 Yr. CAGR %	22.88	21.4	23.88	14.78	17.77
Total Assets, 5 Yr. CAGR %	18.75	21.55	23.25	15.74	19.99
Tangible Book Value, 5 Yr. CAGR %	-50.17	-16.69	-33.01	9.14	26.6
Common Equity, 5 Yr. CAGR %	15.18	17.89	21.17	23.54	25.98
Cash From Operations, 5 Yr. CAGR %	-8.28	7.23	25.26	12.7	16.19
Capital Expenditures, 5 Yr. CAGR %	10.89	12.55	14.15	16.57	11.01
Levered Free Cash Flow, 5 Yr. CAGR %	-	15.15	19	-38.66	15.78
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	16.35	23.11	-20.74	16.93
Dividend Per Share, 5 Yr. CAGR %	-5.59	5.54	9.24	10.76	12.2