Nippon Paint Group promotes its business in 29 countries and regions including Japan, Asia, Oceania, the Americas, and Europe with the core mission of Maximization of Shareholder Value (MSV). MSV aims to maximize the residual financial value after fulfilling our duties to our stakeholders including but not limited to our customers, employees, business partners, and society. MSV aims for long term sustainable growth and value maximization, and is totally different from 'shareholder primacy' which may focus on the short term profit maximization.
Under such mission, this year as we celebrate our 140th anniversary, we formulated Group's purpose - 'Enriching our living world through the power of Science + Imagination', which defines the identity of Nippon Paint Group. Our diverse employee base from all over the world unite and continue to work together to make progress for achieving MSV, while respecting autonomy of every partner companies* around the globe.
*Name of consolidated subsidiary companies of Nippon Paint Holdings
As Japan's longest-established paint and coatings manufacturer, we have continuously contributed to various social issue solving, starting from the development of non-toxic Aenka to most recently anti-viral coating solutions. As we foresee paint and coating industry and its adjacencies continue to grow globally, Nippon Paint Group is well positioned to sustain its growth profile while respecting the history and tradition of the paint industry, and we pride ourselves on being a strong and unique corporate group characterized by constant pursuit of growth, entrepreneurial spirit, and diverse and exceptionally talented people.
The Group's '2021-2023 Medium-Term Management Plan' aims to further accelerate the Group's global expansion and achieve revenue of 1.1 trillion yen and operating income of 140 billion yen by FY2023. While responding to the ever-changing business environment in an agile and flexible manner, also coping with the increasing need for global environment and social issues, we shall aim to fully leverage the strength of the Group under our Purpose, contributing to the development of society, eventually leading to realization of MSV.
We deeply appreciate your continuous support for Nippon Paint Group to this date and for our future endeavors.
Yuichiro Wakatsuki, Representative Executive Officer & Co-President
Wee Siew Kim, Representative Executive Officer & Co-President