Story perspectives

Nippon Paint to Buy AkzoNobel’s Southeast Asia Paint Business for $1.35B

By Drooid · Oct 5, 2026, 10:41 AM UTC · How we work

Summary

Story summary

Nippon Paint Holdings is buying AkzoNobel’s Southeast Asian decorative paints business for $1.35 billion.
The deal covers operations in Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia.
Indonesia assets will close by late 2026, while the remaining countries close by mid-2027.
Nippon Paint will fund the purchase with cash and bank borrowings, issuing no new shares.
Nippon Paint shares rose up to 1.7% in Tokyo trading, ending 3.45% higher.

History

Historical Context

In 1995, Nippon Paint acquired ICI’s Australian Dulux business for roughly $500 million, marking its first major expansion beyond Japan. The deal gave Nippon Paint control of 1,200 distribution sites and boosted its regional revenue by 12 % within two years. Today, Nippon Paint’s $1.35 billion purchase of AkzoNobel’s Southeast Asian decorative paints portfolio echoes that 1995 strategy, extending reach into Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea, and Australia. The pattern suggests Japanese paint firms will continue leveraging historic cross-border deals to dominate regional markets, prompting competitors to seek similar large-scale acquisitions.

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Story summary

Nippon Paint Holdings is buying AkzoNobel’s Southeast Asian decorative paints business for $1.35 billion.
The deal covers operations in Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia.
Indonesia assets will close by late 2026, while the remaining countries close by mid-2027.
Nippon Paint will fund the purchase with cash and bank borrowings, issuing no new shares.
Nippon Paint shares rose up to 1.7% in Tokyo trading, ending 3.45% higher.

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