Core Points - The founder of Nippon Paint, Wu Qingliang, passed away at the age of 98, leaving behind a legacy as a significant figure in the paint industry and a net worth of $13 billion [1][2] Group 1: Company Background - Wu Qingliang was born in 1927 in Singapore and faced early hardships, including the loss of his father, which led him to start working at a young age [2] - In 1949, he made a pivotal decision to purchase leftover paint from the British government, which marked a turning point in his career [2] - In 1962, Wu's company entered a joint venture with Nippon Paint, where he managed all business activities in Asia, leading to rapid industry expansion [2][3] Group 2: Market Expansion - Wu Qingliang named his brand "Nippon" to commemorate the establishment of diplomatic relations between China and Singapore in 1990 [3] - The company has grown significantly, with a transaction valued at 1.29 trillion yen announced in August 2020, making it a subsidiary of Nippon Paint Holdings [3] - For the first half of 2025, Nippon Paint reported a 4.3% increase in sales to 852.43 billion yen (approximately $5.78 billion) and a 34.4% increase in net profit [3] Group 3: Operations in China - Nippon Paint began planning its entry into China in 1990 and established its first company there in 1992, becoming one of the early multinational enterprises in the region [4][5] - Despite initial challenges, the company has become a well-known brand in China's paint industry, with over 70 production bases and nearly 11,000 employees [5] - The company has focused on localizing its products and services to meet consumer needs, leading to its recognition as a top global paint manufacturer [5] Group 4: Philanthropy and Legacy - Wu Qingliang remained connected to his roots, contributing over 100 million yuan to infrastructure projects in his hometown, including schools and hospitals [6] - His philanthropic efforts have significantly impacted the education system in his hometown, establishing a complete public education system from kindergarten to high school [6] - Wu's commitment to his heritage and community has been a defining aspect of his legacy, emphasizing the importance of remembering one's roots [6]

Core Viewpoint - The article discusses the remarkable journey of the Wu Qingliang family in taking control of Nippon Paint Holdings, positioning the new Nippon group as the fourth largest paint company globally, with the potential to surpass AkzoNobel in the near future [4][62]. Group 1: Background of Wu Qingliang - Wu Qingliang, the founder of Nippon Paint, built a significant business empire from scratch, becoming Singapore's richest person with a fortune exceeding 140 billion RMB [5]. - The collaboration between Wu Qingliang and Nippon Paint Holdings dates back to 1950 when he sought to leverage their brand and technology for market expansion in Southeast Asia [9][10]. Group 2: Development of Nippon Paint - Wu Qingliang established the Lihua Group in 1962, gaining a 60% controlling stake, which allowed him to expand rapidly into neighboring Southeast Asian markets [11][12]. - The brand "Nippon" was created in 1990, inspired by the establishment of diplomatic relations between China and Singapore, with Wu Qingliang as the actual owner of the brand [14][15]. Group 3: Shareholding Battles - A power struggle ensued between Wu Qingliang's family and Nippon Paint Holdings, with significant moves made by both sides to gain control over the joint ventures [16][18]. - By 2020, Wu Qingliang's family secured over 50% of Nippon Paint Holdings, effectively gaining absolute control and elevating the company's global ranking in the paint industry [24][25]. Group 4: Financial Performance and Future Outlook - In 2021, the Nippon group reported revenues of $8.642 billion, ranking fourth in the industry, with a narrowing gap of less than $2 billion from AkzoNobel [62]. - The article suggests that with the current growth trajectory, Nippon Paint is likely to surpass AkzoNobel within the next couple of years, solidifying its position among the top three paint companies globally [62].

Core Points - Wu Qingliang, the founder of Wu Denan Holdings Group and the "Nippon" brand, passed away at the age of 98, leaving behind a personal wealth of $13 billion, ranking 182nd on the Forbes global billionaire list in 2025 [1][3] - Wu Qingliang transformed from a poor worker to a legendary figure in the business world, known as the "King of Paints in Asia" [3][5] - The establishment of diplomatic relations between China and Singapore in 1990 inspired Wu Qingliang to name his paint brand "Nippon," symbolizing his connection to both countries [3][5] Company Overview - Wu Qingliang's company, Nippon Paint, was established through a joint venture with Japan's Nippon Paint in 1962, with Wu's company holding a 60% stake [3][4] - Nippon Paint has become the fourth-largest paint manufacturer and service provider globally, with over 70 production bases in China and nearly 11,000 employees [6] - In 2025, Nippon Paint Holdings reported a 4.3% year-on-year increase in sales to ¥852.43 billion (approximately $5.78 billion) and a 34.4% increase in net profit [9] Market Insights - Analysts predict a 20% compound annual growth rate for Nippon Paint's earnings per share from 2024 to 2027, despite the stock trading at a lower price-to-earnings ratio compared to its peers [12] - The company's core decorative paint business is largely unaffected by tariffs and benefits from stable petrochemical raw material prices, highlighting its competitive advantage [12] Philanthropic Contributions - Wu Qingliang donated over 100 million RMB to build infrastructure in his hometown, reflecting his commitment to his roots and heritage [14][18] - His philanthropic efforts included the construction of bridges, roads, hospitals, and other facilities in his ancestral village [14]

Core Insights - Wu Qingliang, the founder of Wu Denan Holdings and the "Nippon" brand, passed away at the age of 98, leaving behind a personal wealth of $13 billion, ranking 182nd on the Forbes global billionaire list in 2025 [1][2] - Wu Qingliang transformed from a poor worker to a legendary businessman known as the "King of Paints in Asia," emphasizing the importance of investing in China [2] Company Overview - In 1962, Wu Qingliang's company entered a joint venture with Nippon Paint, Japan's largest paint manufacturer, establishing the Lisheng Group, with Wu Denan Holdings holding 60% and Nippon Paint 40% [4] - The Lisheng Group began planning to enter China in 1992, becoming one of the first multinational companies to register in the country [5] - Wu Qingliang's vision for the Chinese market was initially met with challenges, but he remained confident in its potential, leading to the establishment of the Nippon brand in China [7] Market Position - Currently, Lisheng Group ranks as the fourth-largest paint manufacturer and service provider globally, with over 70 production bases in China and nearly 11,000 employees [8] - In 2025, Nippon Paint Holdings reported a 4.3% year-on-year increase in sales to ¥852.43 billion (approximately $5.78 billion or ¥42 billion), with a net profit growth of 34.4% [11] Financial Insights - Analysts predict a 20% compound annual growth rate for Nippon Paint's earnings per share from 2024 to 2027, despite the stock trading at a lower price-to-earnings ratio compared to its peers [14] Philanthropic Efforts - Wu Qingliang donated over ¥100 million to build infrastructure in his hometown, reflecting his commitment to his roots and pride in his Chinese heritage [15][16]