Nippon Paint Holdings Co Ltd

4612: XTKS (JPN)
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Nippon Paint: Initiating on Global Paint Producer; Shares Fairly Valued

We initiate coverage of Nippon Paint, a global producer of decorative and architectural paints and industrial and automotive paints and sealants. Most revenue is from Asia, where its brands have a dominant market share, including in China, Japan, Australia, and much of Southeast Asia.

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