ASAHIPEN CORPORATION
4623・Standard Market・Chemicals
Paint Business
The largest segment of the Asahipen Group, centered on household and industrial paints
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales (to external customers) | ¥7,318 million (FY2026, ending March 2026) | ¥7,639 million (FY2025, ended March 2025) | ↓ |
| Segment profit | ¥319 million (FY2026, ending March 2026) | ¥462 million (FY2025, ended March 2025) | ↓ |
| Segment assets | ¥12,700 million (FY2026, ending March 2026) | ¥12,422 million (FY2025, ended March 2025) | ↑ |
| Depreciation and amortization | ¥199 million (FY2026, ending March 2026) | ¥217 million (FY2025, ended March 2025) | ↓ |
| Increase in property, plant and equipment and intangible assets | ¥64 million (FY2026, ending March 2026) | ¥96 million (FY2025, ended March 2025) | ↓ |
Business Details
The Paint Business is the largest segment of the Group, engaged in the manufacture and sale of household and industrial paints (by the Company and its subsidiary Taiyo Paint Co., Ltd.), the contracting and execution of painting construction work (by subsidiary Asahipen Home-ing Service Co., Ltd.), and the sale of painting supplies and others (by the Company). In FY2026 (ending March 2026), sales to external customers were ¥7,318 million, accounting for approximately 43% of the Group's total sales of ¥16,823 million, making it the largest segment. The main sales channel is the home center industry.
Recent Overview
Sales and profit both declined sharply year on year, directly hit by soaring raw material costs
In FY2026 (ending March 2026), sales in the Paint Business were ¥7,318 million (down 4.2% year on year), and segment profit was ¥319 million (down 31.0% year on year). In addition to the decline in sales, the impact of soaring raw material prices significantly squeezed segment profit. While the segment continues to maintain its position as the largest segment, accounting for approximately 43% of the Group's total sales composition, its profit contribution declined markedly from the previous fiscal year.
Key Products
Growth Drivers
- Strengthening product competitiveness through new product development and differentiation from competitors
- Development of new sales channels and enhancement of the e-commerce business
- Improving cost competitiveness by promoting in-house production
- Cost management through strengthened relationships with business partners, interchangeability of raw materials, and purchasing of alternative materials
- Group synergies through vertical integration with painting construction services
Risks
- Profit margin pressure from continued sharp increases in raw material prices (segment profit fell 31.0% year on year in FY2026, ending March 2026, making this risk evident)
- Decline in demand due to weak personal consumption and reduced spending on DIY-related products
- Downward pressure on selling prices due to intensifying competition and price wars in the home center industry
- Uncertainty in raw material procurement costs due to U.S. trade policy trends and international instability
- Risk of fluctuations in sales during peak demand seasons due to unusual weather and natural disasters
Last updated: June 26, 2026