Nippon Paint Holdings Co.'s shares jumped Tuesday after the Japanese company reported 2021 revenue above analysts' expectations and guided for stronger earnings in 2022.

Shares of the Japan-based company rose as much as 18% to 1,001.00 yen in morning trading. The stock was recently 15% higher at Y982.00, trimming its year-to-date loss to 22%.

After the Tokyo stock-market close on Monday, the paint-products manufacturer reported 2021 revenue climbed 29% to Y998.28 billion ($8.64 billion), beating the mean estimate of Y980.74 billion in a FactSet survey of analysts. The company's 2021 net profit soared 54% to Y67.57 billion.

On its outlook for this year, Nippon Paint said it plans to strengthen the growth foundation of existing businesses and actively capture merger and acquisition opportunities. For 2022, the company guided for revenue to increase 20% to Y1.20 trillion and net profit to rise 20% to Y81.00 billion.


Write to Ronnie Harui at ronnie.harui@wsj.com


(END) Dow Jones Newswires

02-14-22 2226ET