Overview
Chemicals

Chugoku Marine Paints,Ltd.

Chugoku Marine Paints is a leading manufacturer and seller of marine and industrial coatings, offering a broad product portfolio spanning anti-fouling paints for ocean-going and coastal vessels, high-performance industrial and heavy-duty protective coatings, container coatings, and specialty chemical products. The company serves shipbuilders, ship operators, infrastructure owners, and industrial clients globally, with particular strength in fuel-saving anti-fouling technology and eco-friendly coating solutions. Its competitive edge lies in proprietary coating technologies, a global distribution and service network, and deep expertise in marine corrosion protection and hull performance optimization.

Market Cap
¥175B
US$1.11B
EV
¥143B
US$912M
Stock¥3,515▼-1.40%
US$1 = ¥157.25 (2026-10-30)
LTM EV/EBITDA
6.8
x
LTM EV/EBIT
7.1
x
LTM PER
14.2
x
LTM PBR
1.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-34.8%pt
1001
Nov 4, 25 – Oct 30, 26StockTOPIX
1Feb 4, 26Earnings: Downward revision guidance
MC → EV Bridge
175BUS$1.11BMarket Cap16.6BUS$106M+ Debt38.9BUS$247M− Cash15.4BUS$98.1M− Inv. Sec.6.62BUS$42.1M+ NCI143BUS$912MEV
AI Briefing
Chugoku Marine Paints leads marine anti-fouling and industrial protective coatings globally, leveraging proprietary fuel-saving tech across 24 group companies. FY26/3 revenue ¥139B with OP margin expanding to 12.5%, continuing a steady profitability climb since FY23/3. Not in public data
Performance & Balance
Revenue 5Y (¥B)
84.3US$536M'22/399.5US$633M'23/3116US$739M'24/3131US$834M'25/3139US$886M'26/3
EBITDA 5Y (¥B)
2.74US$17.4M'22/35.49US$34.9M'23/313.8US$87.9M'24/317.1US$109M'25/319.3US$123M'26/3
Net Income 5Y (¥B)
0.26US$1.63M'22/33.85US$24.5M'23/39.89US$62.9M'24/313.7US$87.3M'25/311.0US$69.9M'26/3
Capital Structure
86%
EquityD/E 0.16xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
27.8US$177M20.5US$130M'22/326.5US$169M23.9US$152M'23/340.9US$260M25.6US$163M'24/345.0US$286M20.8US$132M'25/353.2US$338M17.4US$111M'26/3
Shareholders
Top 10 hold 47.0%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
12.58%
2
Custody Bank of Japan, Ltd. (Trust Account)
5.65%
3
The Hiroshima Bank, Ltd.
4.90%
4
IMABARI SHIPBUILDING CO.,LTD.
4.69%
5
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
4.53%
6
Meiji Yasuda Life Insurance Company
4.03%
7
Shoei Kisen Co., Ltd.
3.67%
8
Chugoku Marine Paints,Ltd. Business Partners' Stock Ownership Association
2.53%
9
NORTHERN TRUST CO.(AVFC) RE FIDELITY FUNDS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
2.42%
10
Mizuho Bank, Ltd.
2.02%
Management
11 officers
Kenji DATE
Representative Director, President
Apr 1995: Joined the Company Mar 2012: Director and President, CHUGOKU PAINTS B.V. Jun 2017: Deputy General Manager, Sales Division Apr 2018: General Manager, Sales Division Jul 2018: Executive Officer, General Manager, Sales Division Jul 2020: Senior Executive Officer, General Manager, Sales Division Jun 2021: Representative Director, President, and General Manager, Sales Division Apr 2023: Representative Director, President (current)
1970-11-21
Hideyuki TANAKA
Senior Managing Director, in charge of Technology and Production
Apr 1988: Joined the Company Apr 2008: Group Leader, Anti-fouling Technology Department, Technology Center, Marine Coatings Business Division; concurrently Group Leader, Third Research Group, Research and Development Division Apr 2011: Group Leader, Development Group II, Development Department, Technology Division Jul 2015: Executive Officer, Deputy General Manager, Technology and Production Division; concurrently General Manager, R&D Department II Apr 2017: Executive Officer, General Manager, Technology and Production Division; concurrently General Manager, R&D Department II Jun 2017: Director, General Manager, Technology and Production Division Apr 2018: Director, General Manager, Technology Division Jun 2021: Managing Director, General Manager, Technology Division Apr 2022: Managing Director, General Manager, Technology Division; concurrently General Manager, Production Division Apr 2023: Managing Director, General Manager, Technology Division Apr 2025: Managing Director, in charge of Technology and Production Jun 2025: Senior Managing Director, in charge of Technology and Production (current)
1965-08-07
Katsunori KOBAYASHI
Managing Director, in charge of Administration and Compliance
Apr 1990: Joined the Company Dec 2014: General Manager, Finance Department, Administration Division Jul 2020: Executive Officer, Deputy General Manager, Administration Division; concurrently General Manager, Finance Department Mar 2022: Executive Officer, Deputy General Manager, Administration Division; concurrently General Manager, Finance Department and Overseas Administration Department Apr 2022: Executive Officer, General Manager, Administration Division; concurrently General Manager, Finance Department, Overseas Administration Department, and Information Systems Department Jun 2022: Director, General Manager, Administration Division Jun 2024: Managing Director, General Manager, Administration Division Apr 2025: Managing Director, in charge of Administration and Compliance (current)
1965-11-16
Takao SHIMIZU
Director, in charge of Management Strategy
Apr 1985: Joined The Industrial Bank of Japan, Ltd. (now Mizuho Bank, Ltd.) May 2011: Director, Americas Asset Audit Office, Asset Audit Department, Mizuho Bank, Ltd. Sep 2014: Senior Manager, Administration Division, the Company Jan 2015: General Manager, Corporate Planning Department, Administration Division Apr 2018: Deputy General Manager, Administration Division; concurrently General Manager, Corporate Planning Department Jul 2018: Executive Officer, Deputy General Manager, Administration Division; concurrently General Manager, Corporate Planning Department Jul 2020: Senior Executive Officer, Deputy General Manager, Administration Division; concurrently General Manager, Corporate Planning Department Jun 2023: Director, Deputy General Manager, Administration Division; concurrently General Manager, Corporate Planning Department Apr 2024: Director, Deputy General Manager, Administration Division, in charge of Management Strategy Apr 2025: Director, in charge of Management Strategy Jun 2026: Managing Director, in charge of Management Strategy (current)
1962-08-28
Toshifumi INAMI
Director
Apr 1974: Joined Mitsubishi Corporation Jul 1999: Vice President and Head of Machinery Department, Mitsubishi Germany GmbH; Chief Representative, Vienna Office Apr 2004: Head of Marine Department, Head Office, Mitsubishi Corporation May 2006: Branch Manager, Manila Branch, Mitsubishi Corporation Apr 2007: Executive Officer, Mitsubishi Corporation Jun 2011: President and Representative Director, Mitsubishi Ore Transport Co., Ltd. Jan 2014: Head of Japan Branch, Wallenius Wilhelmsen Logistics A/S Jan 2019: Advisor, City Computer Co., Ltd. (current) Jun 2021: Outside Director (Audit and Supervisory Committee Member), Kyoei Tanker Co., Ltd. (current) Jun 2022: Outside Director of the Company (current)
1951-11-03
Akiko KADODEN
Director
Oct 2001: Registered as attorney (Daini Tokyo Bar Association); joined TMI Associates Oct 2004: Seconded to Ministry of Foreign Affairs, Economic Affairs Bureau, International Trade Division, WTO Dispute Settlement Office (fixed-term public official) Apr 2007: Returned to TMI Associates Jan 2010: Partner, TMI Associates Nov 2010: Partner, Atsumi & Sakai (Foreign Law Joint Enterprise) Jan 2011: Member, Contract Monitoring Committee, Ministry of Foreign Affairs (current) Apr 2014: Partner, Nijubashi Law Office (now Iwata Law Office) Jun 2015: Outside Director, UT Group Co., Ltd. Oct 2016: Partner, Endeavor Law Office Jun 2023: Outside Director of the Company (current) Mar 2025: Partner, Tsubame Sogo Law Office (current)
1977-03-22
Takumi KUDO
Director
Apr 1983: Joined Mitsui & Co., Ltd. Oct 2002: Manager, Athens Office, Mitsui & Co., Ltd. Oct 2009: Outside Corporate Auditor, Toyo Shipping Co., Ltd.; Outside Corporate Auditor, Mitsui Aerospace Co., Ltd. Oct 2013: Senior Executive Vice President and General Manager, Machinery and Transport Systems Division, Mitsui & Co. Europe Plc Oct 2015: President and Director, OMC Shipping Pte. Ltd. Jul 2018: Adviser, Mobility Division II, Mitsui & Co., Ltd. Jul 2019: Executive Officer, General Manager, Corporate Division, Toyo Shipping Co., Ltd. Apr 2020: Executive Officer, General Manager, Operations Division, Toyo Shipping Co., Ltd. Aug 2022: Executive Advisor, Wholesale Planning Department, Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. Jun 2025: Outside Director of the Company (current) Apr 2026: Executive Advisor, Ship Finance Department, Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. (current)
1960-12-10
Junichi YOKOSEKI
Full-time Corporate Auditor
Apr 1986: Joined The Bank of Tokyo, Ltd. (now MUFG Bank, Ltd.) Sep 2014: Credit Assessment Advisor, Ayutthaya Project Promotion Office, MUFG Bank, Ltd. Jul 2015: Senior Investigator, Internal Audit Department, MUFG Bank, Ltd. Jul 2017: General Manager, Legal Affairs Office, the Company Jun 2024: Full-time Corporate Auditor (current)
1963-07-23
Tatsuro ENOMOTO
Full-time Corporate Auditor
Apr 1985: Joined the Company Apr 2009: Head of Shikoku Branch and Head of Marugame Sales Office, Domestic Sales Division, Sales Division Jul 2011: Head of Tokyo Branch, Domestic Sales Division, Sales Division Oct 2019: Chairman and General Manager, CHUGOKU MARINE PAINTS (Shanghai), Ltd.; Chairman and General Manager, CHUGOKU MARINE PAINTS (Guangdong), Ltd. Nov 2021: Deputy General Manager, Strategic Planning Department, Sales Division Apr 2023: Deputy General Manager, Strategic Planning Department, Sales Division; concurrently Internal Audit Office Jun 2025: Full-time Corporate Auditor (current)
1963-02-17
Kie YAMADA
Corporate Auditor
Oct 2002: Joined Chuo Aoyama Audit Corporation Dec 2006: Registered as Certified Public Accountant Jul 2007: Joined Shin Nihon & Co. (now EY Shin Nihon LLC) Jul 2009: Joined Shin Nihon Ernst & Young Tax Corporation (now EY Tax Co., Ltd.) Jun 2012: Director, SK Partners Co., Ltd. (current) Dec 2012: Registered as Licensed Tax Accountant Sep 2017: Member, SkyShip Tax Accountant Corporation (current) May 2019: Partner, Aile Audit Corporation (current) Jun 2020: Outside Corporate Auditor of the Company (current)
1977-05-06
Tetsuji NAKAMURA
Corporate Auditor
Apr 1975: Joined Hiroshima Regional Taxation Bureau Jul 2012: Director, Kaita Tax Office Jul 2013: Section Chief, Welfare Section, General Affairs Department, Hiroshima Regional Taxation Bureau Jul 2014: Deputy Director, General Affairs Department, Hiroshima Regional Taxation Bureau Jul 2016: Director, Hiroshima East Tax Office Jul 2017: Retired from National Tax Service Aug 2017: Registered as Licensed Tax Accountant and opened practice (current) Jun 2020: Substitute Corporate Auditor of the Company Jun 2023: Outside Corporate Auditor of the Company (current)
1957-02-20
Large Shareholding Reports
Capital Research and Management Company
2026-10-22
8.21%→8.21%
Capital Research and Management Company
2026-10-07
7.63%→8.21%
Capital Research and Management Company
2026-06-05
6.66%→7.63%
Capital Research and Management Company
2026-04-22
5.09%→6.66%
Capital Research and Management Company
2026-03-23
4.79%→5.09%
Asset Management One Co., Ltd.
2025-11-21
3.49%
Mitsubishi UFJ Trust and Banking Corporation
2025-11-17
2.99%→2.63%
Imabari Shipbuilding Co., Ltd.
2025-11-07
3.29%→4.23%
Annual report (as of 2026-03-31): 4.69%
Capital Research and Management Company
2025-10-22
4.79%
Asset Management One Co., Ltd.
2025-08-07
3.38%→2.33%
―
2023-08-15
4.52%→4.52%
―
2023-08-10
4.52%→4.52%
―
2023-08-08
7.12%→4.52%
―
2023-07-13
7.12%→7.12%
―
2023-06-29
8.05%→7.12%
―
2023-03-10
8.12%→8.05%
―
2022-09-21
8.12%→8.12%
―
2022-08-12
8.12%→8.12%
―
2022-02-08
8.12%→8.12%
―
2021-11-25
8.12%→8.12%
―
2021-10-12
8.12%→8.12%
―
2021-10-05
7.06%→8.12%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-10-30
Q2 Earnings Flash
FY ending Mar 2027
EDINET
2026-10-22
Large Shareholding Report
EDINET
2026-10-07
Large Shareholding Report
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
TDnet
2026-07-03
業績予想の修正
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-05
Large Shareholding Report
TDnet
2026-05-11
Full-Year Earnings Flash
FY ending Mar 2026
EDINET
2026-04-22
Large Shareholding Report
EDINET
2026-03-23
Large Shareholding Report
TDnet
2026-02-03
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-21
Large Shareholding Report
EDINET
2025-11-17
Large Shareholding Report
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-11-07
Large Shareholding Report
TDnet
2025-10-31
業績予想の修正
EDINET
2025-10-22
Large Shareholding Report
EDINET
2025-08-07
Large Shareholding Report
TDnet
2025-07-31
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-04
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-12
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-31
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-26
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-09
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-15
Large Shareholding Report
EDINET
2023-08-10
Large Shareholding Report
EDINET
2023-08-08
Large Shareholding Report
EDINET
2023-08-08
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
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