Consolidated Financial Results
for the Three Months Ended March 31, 2020
[IFRS]
May 15, 2020
Company name: NIPPON PAINT HOLDINGS CO., LTD.
Stock exchange listing: Tokyo Stock Exchange
Code number: 4612
URL: https://www.nipponpaint-holdings.com/
Representative: Masaaki Tanaka, Chairman of the Board, Representative Executive Officer, President & CEO
Contact: Ryosuke Tanaka, General Manager of Investor Relations
Phone: +81-50-3131-7419
Scheduled date of filing the quarterly securities report: May 15, 2020
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of consolidated financial results briefing session: Yes(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended March 31, 2020 (January 1, 2020 to March 31, 2020)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Revenue

Operating profit

Three months ended
March 31, 2020
March 31, 2019

Million yen
162,916
147,359

%
10.6
(1.2)

Three months ended
March 31, 2020
March 31, 2019

Profit attributable toowners of parent
Million yen%
7,470(29.9)
10,648(8.8)

Basic earnings per
share
Three months ended
March 31, 2020
March 31, 2019

Million yen
15,234
20,129Profit before tax%(24.3)(8.2)

Million yen
13,993
20,378%(31.3)(6.8)

ProfitMillion yen
10,226
15,079%(32.2)(6.3)

Comprehensive income
Million yen(50,566)
21,101%－－

Diluted earnings per
share

Yen
23.29
33.20

Yen
23.28
33.20

(2) Consolidated Financial Position
Total assets

As of March 31, 2020
As of December 31, 2019

Million yen
1,366,697
1,478,646

Total equity
Million yen
628,216
687,979

Equity attributableto owners of parent

Equity attributableto owners of parent
to total assets

Million yen
496,803552,922

%
36.4
37.4

2. Dividends
Annual dividends
1stquarter-end
Yen

2nd
quarter-end
Yen

3rd
quarter-end
Yen

－

22.00

－

Fiscal year ended
December 31, 2019
Fiscal year ending
December 31, 2020
Fiscal year ending
December 31, 2020 (Forecast)Year-end

Total

Yen

Yen

－

23.00

45.00

－

－

－

－

Note: Revision to the dividends forecast announced most recently: No
The dividends forecast for the fiscal year ending December 31, 2020 is yet to be determined. The Company will disclose the dividends
forecast as soon as it becomes available in consideration of the future earnings trends based on our dividend policy.
3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2020 (January 1, 2020 to December 31, 2020)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings per
Operating profit
Profit before tax
owners of parent
share

Revenue
Million yen

Full year

720,000％

Million yen％

Million y
en

％

Yen

63,000 (19.3)

60,000(24.5)

25,000(31.9)

77.93％ Million yen

4.0

Note: Revision to the financial results forecast announced recently: Yes

* Notes:(1) Changes in significant subsidiaries during the period under review: No(Changes in specified subsidiaries resulting in changes in the scope of consolidation)
Newly consolidated Excluded(2) Changes in accounting policies and changes in accounting estimates
1) Changes in accounting policies required by IFRS: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: Yes(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2020: 325,402,443 shares
December 31, 2019: 325,402,443 shares2) Total number of treasury shares at the end of the period:
March 31, 2020: 4,615,378 shares
December 31, 2019: 4,635,484 shares
3) Average number of shares during the period:
Three months ended March 31, 2020: 320,777,008 shares
Three months ended March 31, 2019: 320,712,604 shares*These consolidated financial results are outside the scope of audit by Certified Public Accountants or auditing corporations.
*Explanation of the proper use of financial results and other notes(Caution concerning forward-looking statements)
The earnings forecasts and other forward-looking statements herein are based on information currently available to the Company andcontain risks and uncertainties. Actual results, etc. may differ greatly from the forecast figures depending on various factors.

Table of Contents
1. Qualitative Information on Quarterly Financial Results for the Period under Review ....................... 2(1) Explanation of Operating Results ................................................................................................ 2(2) Explanation of Financial Position ................................................................................................ 3(3) Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information 3
2. Condensed Quarterly Consolidated Financial Statements and Primary Notes ................................... 4(1) Condensed Quarterly Consolidated Statements of Profit or Loss and Comprehensive Income ...... 4(2) Condensed Quarterly Consolidated Statement of Financial Position ............................................. 6(3) Condensed Quarterly Consolidated Statement of Changes in Equity ............................................ 8(4) Condensed Quarterly Consolidated Statement of Cash Flows ....................................................... 9(5) Notes to Condensed Quarterly Consolidated Financial Statements ............................................. 10(Notes on going concern assumption) ..................................................................................... 10(Changes in accounting estimates) .......................................................................................... 10(Segment information) ........................................................................................................... 10(Significant subsequent events) .............................................................................................. 13-1-

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Operating Results
During the three months ended March 31, 2020, consolidated revenue of the Company and its group companies (collectively,
the “Group”) increased by 10.6% from the corresponding period of the previous year (the “previous year”) to ¥162,916 million
due to the acquisition of ownership of Australian Paint Manufacturer DuluxGroup Limited* and Turkish Paint Manufacturer Betek
Boya ve Kimya Sanayi Anonim Sirketi. Consolidated operating profit decreased by 24.3% from the previous year to ¥15,234
million due to the absence of insurance income recorded for the Japan segment in the previous year and the impact of the novel
coronavirus outbreak on each business of the Group. Consolidated profit before tax decreased by 31.3% from the previous year to¥13,993 million, and profit attributable to owners of parent decreased by 29.9% from the previous year to ¥7,470 million.
*DuluxGroup Limited is an Australian company that owns the DuluxⓇ trade mark in Australia, New Zealand, Papua New
Guinea, Samoa and Fiji only. DuluxGroup Limited is not associated with, and has no connection to, the owners of the Dulux Ⓡ
trade mark in any other countries, nor does it sell DuluxⓇ products in any other countries.
Results by business segment are as follows.
Japan
In this region, revenue for automotive coatings was lower than the previous year due to a lower number of automobiles
manufactured than the previous year. As for industrial coatings, revenue was lower than the previous year due to factors such as
lower new housing starts than the previous year and delays in recovery from production cuts following the natural disasters that
occurred in the previous fiscal year. As for decorative paints, revenue was lower than the previous year due to factors such as theconsumption tax hike and the impact of the novel coronavirus outbreak.
As a result, consolidated revenue decreased by 8.6% from the previous year to ¥40,081 million. Consolidated operating profit
decreased by 48.0% from the previous year to ¥5,004 million yen. ¥1,899 million of dividend income from overseas groupcompanies (¥1,558 million in the previous year) is included in the consolidated operating profit. All of this dividend income iseliminated under intersegment eliminations and other adjustments as it is an internal transaction.
Asia
In this region, revenue for automotive coatings was lower than the previous year due to weak market conditions such as adecrease in the number of automobiles manufactured in China and Thailand. As for decorative paints, a mainstay business in Asia,
revenue was lower than the previous year as a result of deterioration in the market conditions in China, Malaysia, Singapore andother Asian countries due to the impact of the novel coronavirus outbreak.
As a result, consolidated revenue segment decreased by 24.4% from the previous year to ¥62,361 million. Consolidated
operating profit decreased by 39.2% from the previous year to ¥6,993 million.
Oceania
In this region, the profit or loss of DuluxGroup Limited since September 2019 has been reflected in the Group’s consolidated
financial results. DuluxGroup delivered a positive result led by strong consumer DIY demand across all of its Australian retailfacing businesses during the coronavirus stay at home measures. This offset the adverse effects of Australia’s extreme bushfires
and floods during January and February along with ongoing softness in the new housing market.
As a result, consolidated revenue was ¥31,826 million, and consolidated operating profit was ¥3,502 million.
Americas
In this region, revenue for automotive coatings decreased from the previous year due to factors such as the sluggish productionof automobiles in the United States, a core region, due to the impact of the novel coronavirus outbreak. In the decorative paints
business, revenue increased from the previous year due to factors such as strong housing demand and favorable weather.
As a result, consolidated revenue increased by 0.7% from the previous year to ¥17,645 million. Consolidated operating profit
increased by 30.6% from the previous year to ¥821 million.

-2-

OtherIn this region, the profit or loss of Betek Boya ve Kimya Sanayi Anonim Sirketi since July 2019 has been reflected in theGroup’s consolidated financial results. Revenue for automotive coatings decreased from the previous year due to a sharp decreasein the number of automobiles manufactured in this region as a result of the impact of the novel coronavirus outbreak. Revenue fordecorative paints remained solid due to strong market demand.
As a result, consolidated revenue increased by 212.8% from the previous year to ¥11,001 million, and consolidated operating
profit was ¥806 million, compared to an operating loss of ¥92 million in the previous year.

(2) Explanation of Financial Position
Total assets at the end of the first quarter of the fiscal year under review decreased by ¥111,948 million from the end of theprevious fiscal year to ¥1,366,697 million. Current assets decreased by ¥49,130 million from the end of the previous fiscal year
mainly due to factors such as a decrease in cash and cash equivalents as a result of payment of trade and other payables andrepayment of borrowings. Non-current assets decreased by ¥62,817 million from the end of the previous fiscal year. The decrease
was primarily attributable to factors such as a decrease in goodwill and other intangible assets resulting from unfavorable exchange
rate changes.
Liabilities decreased by ¥52,186 million yen from the end of the previous fiscal year to ¥738,481 million mainly due to factors
such as a decrease in trade and other receivables and bonds and borrowings.
Equity decreased by ¥59,762 million from the end of the previous fiscal year to ¥628,216 million. This was mainly attributableto factors such as a decrease in foreign currency translation adjustment.
As a result, equity attributable to owners of parent to total assets fell from 37.4% at the end of the previous fiscal year to 36.4%.

(3) Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information
In response to the novel coronavirus outbreak, the Group has flexibly implemented response measures based on the business
continuity plan (BCP) and in accordance with the guidelines established by the governments and authorities concerned of various
countries, with the highest priority placed on the safety of its employees. The Group is committed to fulfilling its social
responsibility of continuously supplying Nippon Paint products that serve a critical role in supporting the maintenance of social
infrastructure and industries.
As for the financial results forecast for the fiscal year ending December 31, 2020, as the impact of the novel coronavirus outbreakvaries from region to region, industry to industry, it is difficult to rationally estimate the timing of the end of the outbreak andrecovery of final demand at this time. Under these circumstances, we have prepared the consolidated financial results forecast for
the fiscal year ending December 31, 2020 based on certain assumptions* judged to be rational at this time. The consolidated financial
results forecast may be changed depending on the future development of the global economic impact of the novel coronavirus
outbreak.
*Japan/Asia: Revenue decrease of 5%-20% YoY; Americas: Revenue decrease of 15%-25% YoY-3-

2. Condensed Quarterly Consolidated Financial Statements and Primary Notes(1) Condensed Quarterly Consolidated Statements of Profit or Loss and Comprehensive Income
Condensed Quarterly Consolidated Statement of Profit or Loss
Three Months Ended March 31
For the three months ended March
31, 2019
147,359(Million yen)
For the three months ended March
31, 2020
162,916

Cost of sales(89,460)(94,869)

Gross profit
Selling, general and administrative expenses
Other income

57,898(40,007)
2,588

68,046(52,774)
589

Other expenses

(350)

(626)

Operating profit

20,12915,234

Revenue

Finance income

946

964

(976)

(2,594)278

389

Finance costs
Share of profit of investments accounted for using
equity method
Profit before tax

20,37813,993

Income taxes(5,298)(3,767)

Profit15,07910,226

Owners of parent

10,648

7,470

Non-controlling interests

4,430

2,756

Profit15,07910,226

Basic earnings per share (yen)

33.20

23.29

Diluted earnings per share (yen)

33.20

23.28

Profit attributable toEarnings per share-4-Condensed Quarterly Consolidated Statement of Comprehensive Income
Three Months Ended March 31(Million yen)
For the three months ended March
31, 2019

For the three months ended March
31, 2020

15,07910,226

Items that will not be reclassified to profit or loss
Financial assets measured at fair value
through other comprehensive income
Premeasurements of defined benefit plans

491(5,824)3(33)

Total of items that will not be reclassified to profit
or loss

495(5,857)

5,516(54,378)

－

88

9

(645)

5,526

(54,935)

Total other comprehensive income

6,022(60,793)

Comprehensive income

21,101(50,566)

Owners of parent

14,507(48,829)

Non-controlling interests

6,594(1,737)

21,101(50,566)

ProfitOther comprehensive income

Items that may be reclassified to profit or loss
Exchange differences on translation offoreign operations
Cash flow hedges
Share of other comprehensive income ofinvestments accounted for using equity
methodTotal of items that may be reclassified to
profit or loss

Comprehensive income attributable toComprehensive income-5-(2) Condensed Quarterly Consolidated Statement of Financial Position(Million yen)
As of December 31, 2019

As of March 31, 2020

AssetsCurrent assets
Cash and cash equivalents

123,300

88,906Inventories

92,86091,641

Trade and other receivables

212,844

209,875

Other financial assets

65,15853,895

Other current assets

12,623

13,385

506,787457,705

Assets held for sale

428

380

Total current assets

507,216

458,085

Property, plant and equipment

240,319

232,160

Goodwill

427,091

400,188

Other intangible assets

230,986

209,852

Investments accounted for using equity method

12,68011,647

Other financial assets

54,381

48,305

Other non-current assets

2,818

2,453

Deferred tax assets

3,151

4,005

971,430

908,6121,478,646

1,366,697

Subtotal

Non-current assets

Total non-current assets
Total assets-6-

(Million yen)
As of December 31, 2019

As of March 31, 2020

Liabilities and equity
Liabilities
Current liabilities
Trade and other payables

153,277

129,271

Bonds and borrowings

384,049

52,382Other financial liabilities

12,47014,544

Income taxes payable

6,739

5,076

Provisions

2,197

2,643

Other current liabilities

39,41338,228

Total current liabilities

598,147

242,146

Bonds and borrowings

58,147

371,941

Other financial liabilities

44,681

43,246Retirement benefit liability

24,382

23,278Non-current liabilities

Provisions
Other non-current liabilities

900

843

1,847

1,814

Deferred tax liabilities

62,56055,210Total non-current liabilities

192,519496,335

790,667

738,481

Share capital

78,862

78,862

Capital surplus

62,92762,989Treasury shares(6,378)(6,350)Retained earnings

411,941

411,990

5,568(50,688)

Total equity attributable to owners of parent

552,922496,803

Non-controlling interests

135,056

131,413687,979

628,216

1,478,646

1,366,697

Total liabilities
EquityOther components of equity

Total equity
Total Liabilities and equity-7-(3) Condensed Quarterly Consolidated Statement of Changes in Equity
For the Three Months Ended March 31, 2019 (From January 1, 2019 to March 31, 2019)(Million yen)
Equity attributable to owners of parent
Share capital
Balance as of January 1, 2019

CapitalsurplusTreasurysharesRetainedearnings

Other
components ofequity(5,905)

Noncontrollinginterests

Total equity

520,047

127,570647,618

Total

78,862

63,247(6,444)

390,287

Profit－－－10,648－

10,6484,430

15,079Other comprehensive income

－

－

－

－

3,858

3,858

2,164

6,022

Comprehensive income

－

－

－

10,6483,858

14,507

6,594

21,101

Purchase of treasury shares

－

－

(1)

－

－

(1)

－

(1)

Disposal of treasury shares

－

－

－

－

－

－

－

－

Dividends－－－(7,376)－(7,376)(661)(8,038)

Share-based payment transactions

－

－

－

－

8

8

－

8

Transfer from other components ofequity to retained earnings

－

－

－

1

(1)

－

－

－

Capital increase of subsidiaries

－

－

－

－

－

－

1,600

1,600

Other

－

－

－

－

－

－

9

9

Total transactions with owners

－

－

(1)

(7,374)

6(7,369)947(6,422)

Balance as of March 31, 201978,862

63,247(6,446)

393,562(2,040)527,185

135,112662,297

For the Three Months Ended March 31, 2020 (From January 1, 2020 to March 31, 2020)(Million yen)
Equity attributable to owners of parent
Share capital
Balance as of January 1, 2020

CapitalsurplusTreasurysharesRetainedearnings

Other
components ofequityTotal

Noncontrollinginterests

Total equity

78,862

62,927(6,378)411,941

5,568

552,922

135,056

687,979

Profit

－

－

－

7,470

－

7,470

2,756

10,226

Other comprehensive income

－

－

－

－

(56,299)(56,299)(4,493)(60,793)

Comprehensive income

－

－

－

7,470

(56,299)(48,829)(1,737)(50,566)

Purchase of treasury shares

－

－

(0)

－

－

(0)

－

(0)

Disposal of treasury shares

－

61

27

－

－

89

－

89

Dividends－－－(7,378)－(7,378)(1,897)(9,275)

Share-based payment transactions

－

－

－

－

－

－

－

－

Transfer from other components ofequity to retained earnings

－

－

－

(43)

43

－

－

－

Capital increase of subsidiaries

－

－

－

－

－

－

－

－

Other

－

－

－

－

－

－

(8)

(8)

Total transactions with owners

－

61

27

(7,421)

43(7,289)(1,905)(9,195)

Balance as of March 31, 2020

78,862

62,989(6,350)411,990(50,688)496,803

131,413628,216-8-

（４）Condensed Quarterly Consolidated Statement of Cash Flows(Million yen)

Cash flows from operating activities
Profit before tax
Depreciation and amortization
Interest and dividend income
Interest expenses
Share of loss (profit) of investments accounted for using equity
methodLoss (gain) on sale and retirement of property, plant andequipment, and intangible assets
Decrease (increase) in inventories

For the three months ended
March 31, 2019

For the three months ended
March 31, 2020

20,378
5,644
(643)
837

13,993
7,135
(675)
1,658

(278)

(389)

49

33

(137)

(3,414)

Decrease (increase) in trade and other receivables
Increase (decrease) in trade and other payables
Increase (decrease) in retirement benefit liability
Increase (decrease) in provisions
Other(11,813)(1,732)
(226)
83
5,169

(4,639)(18,722)
(292)
658
3,434

SubtotalInterest received
Dividends received

17,329619
84(1,221)787
869Interest paid
Income taxes paid

(601)
(4,025)(2,092)(6,803)

Net cash provided by (used in) operating activities

13,406(8,460)Cash flows from investing activities
Net decrease (increase) in time deposits
Net decrease (increase) in marketable securities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Payments for acquisition of subsidiaries
Payments for sale of shares of subsidiaries

(511)
(569)
(5,258)67(426)(1,328)(57)

Payments for loans receivable
Proceeds from collection of loans receivable
Other(5,779)－(223)(2,610)12,538(6,518)193(504)(1,453)
－
(20)
134
325

Net cash provided (used in) investment activities(14,086)

2,083

9,536

(322,163)

Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayments of lease obligations
Proceeds from issuance of common shares－(11,471)(1,350)1,600

Dividends paid
Dividends paid to non-controlling interests
Other(7,376)(448)(0)

321,762(13,067)(2,398)－(7,378)(153)284

Net cash provided by (used in) financing activities(9,511)(23,114)778(4,901)

Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period(9,413)
129,633(34,393)
123,300

Cash and cash equivalents at end of period

120,22088,906

Cash flows from financing activities
Net increase (decrease) in short-term borrowings

Effect of exchange rate changes on cash and cash equivalents-9-(5) Notes to Condensed Quarterly Consolidated Financial Statements(Notes on going concern assumption)
There is no relevant information.
(Changes in accounting estimates)
Trademark rights (other intangible assets) of NIPPON PAINT (H.K.) COMPANY LIMITED, etc., recognized accompanying theirconversion into consolidated subsidiaries of the Company in December 2014, were previously amortized over 20 years. However, wehave reexamined the amortization period of the trademark rights taking into consideration that those trademark rights have maintained
high brand recognition and other factors. Accordingly, the Company has changed the estimated useful life of the trademark rights to anindefinite useful life from the beginning of the three months ended March 31, 2020.
As a result of this change, amortization of trademark rights (selling, general and administrative expenses) decreased ¥574 million
yen in the condensed quarterly consolidated statements of profit or loss for the three months ended March 31, 2020.
The change has affected the results for the Asia segment.
(Segment information)(1) Summary of reportable segments
The reportable segments of the Group categorize the business composition of the Group for which separate financial information
is available and are subject to periodical evaluation by the Board of Directors, which is the highest decision-making body, in orderto make decisions regarding management resource allocation and performance assessment. The Group’s primary businesses are
the paint and coating business which manufactures and sells automotive coatings, decorative paints, industrial coatings, finechemicals, and other paints, and the paint peripheral business which manufactures and sells paint-related products such as
adhesives. The Company and separate local companies are responsible for domestic activities, and overseas, separate local
companies are responsible for the Asia, Oceania, Americas, and other regions. Each company is an individual management unit,
and concerning which items to carry, comprehensive strategic proposals are made for each region to foster business growth.
As a result, the Group consists of segments divided by region with manufacture and sales structure as a base, and the four
reportable segments are “Japan,” “Asia,” “Oceania,” and “Americas.””Other” contains business activities by overseas subsidiaries in Europe, etc. Those business activities are managed individually,
but are not material enough to be disclosed separately as an independent segment of the Group.
(Changes in reportable segments)“Oceania” has been added to the reportable segments as a result of the acquisition of all shares in DuluxGroup Limited and theinclusion of the company and its 42 subsidiaries in the scope of consolidation in the third quarter of the previous fiscal year.
Segment information for the three months ended March 31, 2019 is presented based on the changed reportable segmentcategories.

- 10 -

(2) Performance by reportable segment
For the Three Months Ended March 31, 2019 (From January 1, 2019 to March 31, 2019)

Reportable segment(Million yen)
Condensed
quarterly
Adjustment
consolidated(Note)
financialstatements

Other

Total

143,842

3,517

147,359－

147,359

45

7,123

207

7,330

(7,330)－－17,560150,965

3,725

154,690(7,330)147,359－

629

21,747(92)

21,654(1,524)

20,129

Japan

Asia

Oceania

Americas Subtotal

43,84382,484－

17,514

Intersegment revenue

6,218

859

－

Total

50,061

83,343

9,623

11,494

Revenue
Revenue from
customers

external

Segment profit (loss)
Financial income

946

Financial costs

(976)

Share
of
profitofinvestments accounted forusing equity method

278

Profit before tax

20,378

Note: Adjustments to “intersegment revenue” and “segment profit (loss)” are primarily due to intersegment eliminations.
For the Three Months Ended March 31, 2020 (From January 1, 2020 to March 31, 2020)

Reportable segment(Million yen)
Condensed
quarterly
Adjustment
consolidated(Note)
financialstatements

Other

Total

151,915

11,001

162,916－

162,916

25

7,674

177

7,851

(7,851)－

31,827

17,671

159,589

11,178

170,768(7,851)

162,916

3,502

821

16,322806

17,128(1,894)

15,234

Japan

Asia

Oceania

Americas Subtotal

40,08162,361

31,826

17,645Intersegment revenue

6,637

1,009

1

Total

46,71963,370

Segment profit

5,004

6,993

Revenue
Revenue from
customers

external

Financial income

964

Financial costs(2,594)Shareofprofitofinvestments accounted forusing equity method

389

Profit before tax

13,993

Note: Adjustments to “intersegment revenue” and “segment profit” are primarily due to intersegment eliminations.

- 11 -

(3) Information on products and services
Sales categories by business have been changed to the “paint and coating business” and the “paint peripheral business” since
the third quarter ended September 30, 2019.
Revenue for the three months ended March 31, 2019 is presented based on the changed sales categories by business.
For the Three Months Ended March 31, 2019 (From January 1, 2019 to March 31, 2019)(Million yen))
Japan

Asia

Oceania

Americas

Other

Total

Paint and coating business

43,84382,484－

17,514

3,517

147,359

Automotive coatings

11,933

16,490

－

6,741

3,249

38,414

Decorative paints

10,96654,286

－

9,942

－

75,195

Industrial coatings

9,990

6,509

－

－

101

16,601Fine chemicals

2,163

1,465

－

793

162

4,585

Other paints

8,788

3,733

－

36

4

12,563

－

－

－

－

－

－

43,84382,484－

17,514

3,517

147,359

Paint peripheral business
Total

For the Three Months Ended March 31, 2020 (From January 1, 2020 to March 31, 2020)(Million yen)
Japan

Asia

Oceania

Americas

Other

Total

Paint and coating business

40,08162,361

18,321

17,645

9,025

147,435

Automotive coatings

10,253

12,358

－

6,011

2,615

31,239Decorative paints

10,25940,514

17,048

10,8795,182

83,884

Industrial coatings

9,092

5,053

1,272

－

841

16,259Fine chemicals

2,006

1,214

－

720

345

4,286

Other paints

8,469

3,221

－

34

40

11,765－－

13,505－

1,975

15,48040,08162,361

31,826

17,645

11,001

162,916

Paint peripheral business
Total- 12 -

(Significant subsequent events)
In order to ensure liquidity on hand, the Company has entered into the following agreements regarding the commitment lines andborrowing of funds.
(1) Contents of the commitment line agreements(1) Lender

Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd.

(2) Maximum borrowing¥180 billion(3) Contract date

April 10, 2020

(4) Contract period
(5)
With
or
collateral/guarantee

1 year
without

None(2) Details of borrowings(1) Lender

Sumitomo Mitsui Banking Corporation, MUFG Bank, Development Bank of Japan Inc.

(2) Total borrowing limit¥50 billion(3)
Scheduled
Debt
April 15 and April 28, 2020
implementation date(4) Interest rate
Base rate + spread(5) Borrowing period(6)Classificationoffluctuation and fixation(7) Method of repayment
(8)
With
or
without
collateral/guarantee

1 year to 2 years
Fixed
Lump sum repayment
None- 13 -