Top Message

We leverage superior technology to contribute to our Customers and Society, in a sustainable manner, with innovative Products and Services, through a competent workforce, built on a culture of Customer Focus, Integrity and Respect to our Stakeholders.

During this period, despite easing supply constraints and slowing inflation, ongoing geopolitical tension, upward pressure on prices, and continued tight monetary policies in Europe and North America slowed the pace of the global economic recovery. Under such conditions, economic recovery in China following the lifting of zero-COVID policies remained slow, due in part to the impact of a sluggish real estate market. In Europe, inflation and monetary tightening continued to exert downward pressure on the economy.
Other regions, supported by solid domestic demand, trended toward economic recovery or improvement. Japan's economy improved gradually, centered on domestic demand backed by a return to normal economic activity, despite ongoing factors like inflation and the slowing pace of economic recovery overseas.

In the first half of the fiscal year, Kansai Paint Group recorded consolidated net sales of 274,005 million yen (up 9.3% YoY). Consolidated operating income rose to 25,734 million yen (up 63.3% YoY) as earnings improved thanks to efforts to reflect rising sales costs associated with higher sales in selling prices. Ordinary income grew to 32,084 million yen (up 52.5% YoY) due to factors including gains on entities accounted for using the equity method and higher foreign exchange gains resulting from the depreciation of yen. Net income attributable to owners of the parent stood at 46,452 million yen (up 275.5% YoY), reflecting factors including the recording of gains on sale of investment securities accompanying a reduction in cross-shareholdings and gains on sales of non-current assets from sale of land in India.

Based on the results reviewed above, the Group chose to pay interim dividends of 18 yen per share for this fiscal year. We appreciate the continuing support and understanding of all our stakeholders.

September 30, 2023
Kunishi Mori, President