For Immediate Release
May 13, 2019
LIXIL Group Corporation

LIXIL Group’s Existing Continuing Operations Achieve Revised Targets inFYE 2019
-Existing continuing operations, which do not include Permasteelisa, achieve revised FYE 2019 targets after
Japan operations lead second-half recovery-Net profit turned to ¥52.2 billion deficit after recognizing loss from Permasteelisa-Guiding increased core earnings and net profit in FYE 2020

Tokyo – LIXIL Group Corporation (“LIXIL Group”, TSE Code: 5938), maker of pioneering water and housing
products, today announced full-year results for the fiscal year ended March 31, 2019 (FYE 2019).

COO Comment:“LIXIL Group’s existing continuing operations achieved their revised targets for the fourth quarter and thefull year. Our Japan operations performed especially well, capturing growth in both the new housing andrenovation products and materials markets, while we continue to make progress in becoming a global
bathroom solutions provider. We also successfully improved the cost base of existing continuing operations
to improve core earnings, demonstrating that the fundamentals of our business are solid and our future
growth outlook is positive. However, we incurred a significant loss this year due to Permasteelisa, for which
we have now identified and are addressing the root causes. As part of the new management plan we areannouncing today, in addition to returning Permasteelisa to profitability, we look forward to unlocking thefull potential of the LIXIL Group. ”-Hirokazu Yamanashi, Chief Operating Officer, LIXIL GroupFYE 2019 Financial Summary
FYE 2019 Consolidated Results
Q4
LIXIL Group1

RevenueCore Earnings1
Net Profit2

451.4
-24.3
-54.3

(JPY Billions)

YoY-1.6%-Full Year
1,832.6
12.8-52.2

YoY+0.2%-83.2%-Core earnings in IFRS is equivalent to operating profit in JGAAP

2 Profit for the quarter attributable to owners of the parent

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FYE 2019 Results by Business Segment
LIXIL Water Technology (LWT)
LIXIL Housing Technology (LHT)
LIXIL Building Technology (LBT)
Distribution & Retail (D&R)
Housing & Services (H&S)(Consolidation, Adjustments, &Others)

RevenueCore Earnings
RevenueCore Earnings
RevenueCore Earnings
RevenueCore Earnings
RevenueCore Earnings
RevenueCore Earnings

Q4
212.7
14.1
135.9
4.753.7
-30.0
40.4
0.1
16.8
0.9-8.1-14.1

YoY-0.1
-0.3
+6.2
+3.1
-18.9
-32.3
+1.0+0.4
+4.1
+0.5
+0.3
-3.2

(JPY Billions)

Full Year
833.1
60.2
540.8
20.7
256.0
-38.1
176.4
7.8
57.9
3.5
-31.6
-41.2

YoY+5.3
-13.6
+5.6
-6.8
-15.4
-42.7
+2.9
+0.8
+5.6
+0.9
-0.6
-1.9

Revenue
LIXIL Group recorded revenue of ¥1,832.6 billion for the full year, up 0.2% year on year. Consolidated grouprevenue, however, was impacted by effects such as ongoing selective order intake at Permasteelisa.
Overall, existing continuing operations, which do not include Permasteelisa, recorded 1.5% higher revenue
for the full-year period.
In the Japan market, revenue for the full-year period increased 1.8% year on year. LIXIL Housing Technology(LHT) led the surge in sales growth in the second half, with all business segments logging increases except
LIXIL Water Technology (LWT), which achieved comparable revenue to last fiscal year. The ratio ofrenovation-related products increased in all three technology business units in Japan, with sales ofrenovation-related products over the full year increasing 2.2% year on year.
In overseas markets, revenue was down due to effects such as ongoing selective order intake atPermasteelisa. However, LIXIL Water Technology (LWT) recorded an increase in revenue, particularly theAsia Pacific region, led by the China market. The EMEA region continued to record solid growth, while
revenue in the Americas region remained flat.

Core earnings
LIXIL Group recorded core earnings of ¥12.8 billion for the full year, down 83.2% year on year.
In the Japan market, core earnings increased for all three technology business units in the fourth quarter.
The recovery in demand and successful reductions in Sales, General, and Administrative (SG&A) expenses inthe second half contributed to LIXIL Group’s overall slowing rate in year-on-year core earnings decline.
Overseas, core earnings decreased year on year due to inflation of labor and material costs and recording
accrual for estimated future losses on construction contracts.
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Net ProfitLIXIL Group recorded a net loss of ¥52.2 billion for the full fiscal year, down ¥106.8 billion year on year. The
decrease is due to the decline in core earnings, the absence of one-time gains on the sale of shares ofaffiliates and investment properties reported last fiscal year, and an increase in tax expenses due to thereversal of deferred tax assets related to the sale of Permasteelisa.

Dividend Forecast
LIXIL Group will maintain dividend payout ratio of over 30% on a consolidated basis, projecting annual
dividend per share of ¥70 for FYE 2019.

FYE 2020 Financial Forecast
For the fiscal year ending March 31, 2020, LIXIL Group plans to increase revenue and profits mainly byincreasing sales of LWT’s synergy-related products in overseas markets and executing the plan to recoverprofitability at Permasteelisa. It forecasts full-year revenue of ¥1,850 billion, a 1% increase year on year, coreearnings of ¥47 billion, a 267% improvement from the previous year, and net profit of ¥15 billion.

-Ends-Note to Editors:

To learn more about LIXIL Group’s FYE 2019 full results and the new management plan, click the links below.
> FYE 2019 Earnings Materials>FYE 2019 Flash Report> New Management Plan3|P a g eAbout LIXIL
LIXIL makes pioneering water and housing products that solve everyday, real-life challenges, making better homes a realityfor everyone, everywhere. Drawing on our Japanese heritage, we create world-leading technology and innovate to make highquality products that transform homes. But the LIXIL difference is how we do this; through meaningful design, anentrepreneurial spirit, a dedication to improving accessibility for all, and responsible business growth. Our approach comes tolife through industry leading brands, including INAX, GROHE, American Standard, and TOSTEM. Over 70,000 colleagues
operating in more than 150 countries are proud to make products that touch the lives of more than a billion people every day.
LIXIL Group Corporation (TSE Code: 5938) is the listed holding company for LIXIL’s portfolio of businesses.

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