Nippon Paint
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Japan Paint and Coatings M&A: Chemical-Major Carve-Outs, Owner-Run Manufacturers and Global Consolidation
(Updated October 2026. USD figures are converted at USD/JPY = 150 for reference.) Japan’s paint and coatings market continues to contract in volume. Between 2025 and 2026, three Japanese chemical groups (Sumitomo Chemical, AGC and Zeon) agreed to transfer their paint subsidiaries or affiliates to dedicated paint makers. Owner-run paint and construction-chemical makers have been…
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Japan Specialty Chemicals M&A: Carve-Outs From Chemical Majors, Semiconductor Materials and Foreign Capital
(Updated October 2026. USD figures are converted at USD/JPY = 150 for reference.) Since 2024, Japan specialty chemicals M&A has followed several distinct patterns. Japanese majors, including AGC, Mitsubishi Chemical Group, Kyocera and JSR, have carved out businesses in resins, adhesive raw materials and semiconductor materials, and Japanese chemical makers such as Sumitomo Bakelite, Konishi…