Nippon Paint CEO Seeking Acquisitions, Backed by Debt (Correct)

Nippon Paint Holdings Co. will seek acquisitions overseas and finance the deals by borrowing in Japan where interest rates are low, the co-president of the company said.

Borrowing costs are likely to remain low even if the Bank of Japan’s new governor Kazuo Ueda moves to end the central bank’s ultra-loose monetary policy, Nippon Paint’s Yuichiro Wakatsuki said in an interview.

Yuichiro Wakatsuki

Photographer: Shoko Takayasu/Bloomberg

Wakatsuki, a banker, advised Singapore’s mogul Goh Cheng Liang’s Wuthelam Holding Pte. and Nippon Paint prior to 2019, when he joined the paint maker. In 2021, Wuthelam took a majority stake in Nippon Paint in a $12 ...