Diversified chemicals, textiles & fibers, and paint: Results at overseas companies: Strong results at two paint companies on steady cost pass-throughs

Research evidence excerpt

Diversified chemicals, textiles & fibers, and paint: Results at overseas companies: Strong results at two paint companies on steady cost pass-throughs

Diversified chemicals, textiles & fibers, and paint: Global Markets Research

Results at overseas companies 29 July 2026

EQUITY: JAPAN CHEMICALS & TEXTILES

Strong results at two paint companies on steady Research Analysts

cost pass-throughs Japan chemicals & textiles Shigeki Okazaki - NSC

Passage through Bab-el-Mandeb warrants attention for Sumitomo shigeki.okazaki@nomura.com

Chemical affiliate Petro Rabigh +81 3 6703 1170

Yusho Yoshitake - NSC

Implications of results at overseas companies yusho.yoshitake@nomura.com

Overseas companies have started to release Apr–Jun 2026 results. In this report, we look +81 3 6703 1169

at the implications, including the impact of the situation in the Middle East, for diversified Shu Kanbe, CFA - NSC

chemicals, textiles & fibers, and paint companies (see our 26 June 2026 report Japan shu.kanbe@nomura.com

diversifiedchemicals:PointstowatchinApr–Junearnings). Two paint majors have +81 3 6703 1214

reported strong earnings, thanks in part to selling price revisions, and we think this points Daiki Ban - NSC

to solid Apr–Jun earnings at Nippon Paint Holdings [4612] (Neutral), which we think has daiki.ban@nomura.com

found it easy to pass on cost increases in regions where it is highly competitive. +81 3 6703 1124

Paint (1): AkzoNobel says cost increases have been fully passed onto selling prices Takaomi Kono - NSC

European paint major AkzoNobel announced 26/12 Q2 results on 22 July, reporting a takaomi.kono@nomura.com

+81 3 6703 120746% y-y rise in adjusted EBITDA at the decorative paints segment to €191mn. It said that