Disclosed herein is a clear paint composition, comprising (A) an acrylic copolymer comprising from 35 to 50 wt % .epsilon.-caprolactone structural units, based on the resin solid fraction, and wherein the hydroxyl number is from 200 to 340 mgKOH/g and the weight average molecular weight is from 5,000 to 15,000 and (B) a non-yellowing type polyisocyanate compound, wherein the isocyanate group of the (B) component is included in a proportion of from 0.5 to 2 equivalents per 1 equivalent of hydroxyl group of the (A) component, wherein the Young's modulus of the hardened paint film obtained from said paint composition is not more than 1.5 Pa, wherein the molecular weight of intercrosslinking of the cured coating film (Mc) is not more than 350 g/mol, and wherein the glass transition temperature (Tg) of the hardened paint film is at least 65.degree. C.