LIXIL Corporation
ESG Briefing

April 13, 2021

Event Summary[Company Name]

LIXIL Corporation[Company ID]

5938-QCODE[Event Language]

JPN[Event Type]

Analyst Meeting[Event Name]ESG Briefing[Fiscal Period][Date]

April 13, 2021

[Number of Pages]

45[Time]

15:30 – 16:46[Venue]Webcast(Total: 76 minutes, Presentation: 55 minutes, Q&A: 21 minutes)[Venue Size][Participants][Number of Speakers]

5

Kinya Seto
Jin Montesano

Director, Representative Executive Officer,

President, and CEO

Director, Executive Officer, Executive Vice
President, and Chairperson of Corporate
Responsibility Committee

Masatoshi Matsuzaki Outside Director, Chairperson of the Board[Analyst Names]*

Yuji Nishiura

Outside Director, Chairperson of Nomination

Kayo Hirano

Senior Vice President, Leader, Investor Relations

Hideaki Teraoka

Daisuke Fukushima

Committee
OfficeDaiwa Securities Co., Ltd.

Nomura Securities Co., Ltd.

*Analysts that SCRIPTS Asia was able to identify from the audio who spoke during Q&A.
SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

1

Presentation
MC: Now I would like to begin the LIXIL Corporation ESG Briefing, "Enabling Sustainable Value Creation."
I would now like to introduce today's presenters in order of appearance. On the left side of the center, Mr.
Kinya Seto, Director, Representative Executive Officer, President and CEO. Next on the left is Ms. Jin
Montesano, Director, Executive Officer, Executive Vice President, and Chairperson of Corporate
Responsibility Committee. Next, on the right side of the center, Mr. Masatoshi Matsuzaki, Outside Director
and Chairperson of the Board. Next on the right is Mr. Yuji Nishiura, Outside Director and Chairperson of
the Nomination Committee.
Lastly, I am Hirano from the Investor Relations Office and will serve as moderator for today's session. I'dlike to thank you for your cooperation.
Next, I would like to explain how we will proceed today. First, Mr. Seto, President and CEO, will explain thevalue creation process at LIXIL, and the basic concept of our efforts to enhance corporate value. After that,
Ms. Montesano, Chairperson of the Corporate Responsibility Committee, will give an overview of the
Corporate Responsibility Strategy and the initiatives under the three strategic pillars of the Strategy.
Next, Mr. Matsuzaki, Chairperson of the Board, will explain about corporate governance at LIXIL, and finally,
Mr. Nishiura, Chairperson of the Nomination Committee, will explain about corporate governance by the
Nomination Committee.
This will be followed by a question-and-answer session. Please note that the Q&A session will be divided
into two parts: the first part will be for questions from investors, and the second part will be for questions
from the media.

Mr. Seto will now explain the basic concept of LIXIL's value creation process and initiatives to enhance
corporate value.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

2

Seto: Hello, everyone. A company that adds value in everything it does is destined for growth. At LIXIL, we
are committed to creating meaningful and sustainable value for all our stakeholders.
To do this, at the most basic level, we must transform LIXIL into a company that can create higher
profitability, achieve sustainable growth and contribute to society.
A profit-driven model enables us to reward shareholders but also weather the volatility of markets. Higher
profitability also enables us to reinvest in growth and pursue market expansion, driving long-term,
sustainable growth.
But sustainable growth requires success across a range of stakeholder commitments that go beyond
financial metrics. Getting our ESG proposition right is a fundamental building block in this equation. It
represents the growth opportunities before us and how we manage the risks of our business.
Today, I would like to introduce you to LIXIL’s Value Creation Process, how our ESG proposition factors
into this process, and how through our transformation initiatives to become a more entrepreneurial
company, we will create meaningful and sustainable value for our stakeholders going forward.
As shown in this diagram, LIXIL depicts a circular Value Creation Process. The unique elements at LIXIL thatcreate value are shown here.
The value creation process consists of four stages, with the starting point being "To make better homes a
reality for everyone, everywhere," which is our Corporate Purpose.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

3What many companies traditionally call “inputs”, we call “resources we rely on”. This is a LIXIL specificelement to achieve the Purpose. Some people think that strategy is the source of value creation, but I
believe LIXIL’s value creation comes from our people. Therefore, employees are at the center of thisinitiative.
Therefore, we must empower and enable to execute our strategy by becoming more purpose-driven, andagile to create value for stakeholders.
In turn, our people create value for LIXIL and for each of our stakeholders, bringing us back to our
corporate purpose of "To make better homes a reality for everyone, everywhere."

The clear strategic goals in our Value Creation Process refers to having a clearly articulated strategy, suchas our Medium-Term Plan and Corporate Responsibility strategies, which help build an organization that
can achieve sustainable growth and create stakeholder value.
In a more limited sense, the CR strategy is part of building an organization for sustainable growth, but on
the other hand, the philosophy and direction set forth in the CR strategy is also woven throughout thelarger mid-term plan in terms of how to develop attractive and differentiated products and how to achieve
competitive costing.
Later, Ms. Montesano will explain these points, but I want to emphasize an important point here: we
consider our CR strategy to be aligned with and very much integrated within our core business strategy,
not as something separate.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

4

Let's take a brief look at the three areas of priority material issues.
To ensure that the expectations of society and our stakeholders are captured, LIXIL regularly reviews andupdates its Material Issues.
Material Issues are important to both LIXIL and for society, and therefore must be addressed to ensure oursustainable growth and long-term value enhancement.
Priority material issues are where LIXIL can play a significant role leveraging its unique expertise. Thesepriority material issues are also aligned with the key pillars of our CR Strategy.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

5

Among these priorities for LIXIL, there are three pillars: global sanitation and hygiene, water conservationand environmental sustainability, and diversity and inclusion. In addition, enhance governance, two outside
directors will explain later.
Global sanitation and hygiene. This is easy for everyone to relate to. For example, if there are no toilets,
more people will defecate outdoors. As more people defecate outdoors, water will be polluted, andchildren will die. 800 children are dying every day because of that.
Solving such problems is not only solves social issues, but also gives our employees a sense of pride, andby improving the engagement of our business partners and customers, we can contribute not only tosociety, but also to business.
Water conservation and environmental sustainability. This reduces business risks and promotes ecoefficient operations, while creating innovative technologies, differentiation, and delivering value toconsumers. In that sense, this will also be part of our business strategy.
Diversity and inclusion is not simply a matter of achieving social justice. We are thinking about various
stakeholders, such as women, people with disabilities, people of different ethnicities, people who believe
in different religions, and so on, through the concept of diversity.
We believe that by having a variety of people participate in the production of products, we will be able torespond to the demands of various customers and consumers, and thus gain a competitive advantage.
The goal of diversity is also inclusion. Inclusion allows all employees to have a sense that they areproactively participating in projects. By doing so, the Company will become stronger.
SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

6

Finally, governance. We believe that only with a strong governance foundation can we promote sustainablegrowth and reduce risk.
Now, three speakers will explain the details of each of these topics. All of these activities help LIXIL achievesustainable growth by providing stable returns and creating value for shareholders, other stakeholders
and society.
MC: Thank you very much.
Ms. Montesano, Chairperson of the Corporate Responsibility Committee, will now give a brief overview of
the Corporate Responsibility Strategy and the three key issues it addresses.

Montesano*: Thank you. It is my great pleasure to be able to present to you today. We will talk about CR
strategies.
As mentioned by CEO Seto, LIXIL's strategy is supported by our CR strategy. Our efforts are focused on
three key pillarss.
By bolstering our core expertise, scale, and business operations, we are working to solve issues that require
urgent action.
Global sanitation and hygiene, water conservation and environmental sustainability, and diversity andinclusion. I would like to explain these three important areas in detail one by one.
These pillars are underpinned by a foundational commitment to ethical business practices.
SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

7

The first pillar of the CR strategy is our work on Global Sanitation and Hygiene.
We are very proud of our progress in this area, not only because our work is truly unique to LIXIL, but also
because it taps into our fundamental expertise and passion for bringing life-changing innovations to those
who need it most.
This is a very important issue. An estimated two billion people, one in four of us on the planet, live without
access to safe, sanitary toilets, particularly in rural communities, as well as in the regions of South Asia andsub-Saharan Africa.
40% of the world population have no access to basic handwashing facilities in their home. Among them,
673 million people regularly defecate in the open. The lack of basic hygiene and sanitation continues tohave a devastating impact on health, education, and economic improvement for families and communities.
That why we believe we can make a direct and positive impact on this global issue, and to this end, we aim
to improve the livelihood of 100 million people through safe sanitation and hygiene solutions by fiscal
2025.
Without improving sanitation and hygiene for these underserved communities, LIXIL cannot achieve ourcorporate purpose of making better homes a reality for everyone, everywhere.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

8

We are tackling the sanitation challenge in a variety of ways, including through partnerships and advocacy.
However, the main driver of LIXIL’s efforts to improve sanitation and hygiene for 100 million people is our
SATO social business, and that is what I’d like to focus on today.
The SATO business develops and commercializes affordable, easy-to-install, safe sanitation and hygiene
solutions for rural and peri-urban areas of the world that lack access to water systems.
It relies on a strong ecosystem of partners to achieve its goals. LIXIL backs SATO with robust governanceto manage risks, including through the SATO advisory board, LIXIL’s corporate functions such as Legal,
Compliance, HR, and Finance, and corporate audit.
To accelerate and amplify its impact, SATO works with a diverse ecosystem of partners and collaborators.
This includes global development agencies, NGOs, non-profits, private sector partners, as well as regional
manufacturers, distributors, retailers, and community organizations.
We have signed global partnerships with UNICEF, USAID, JICA, are a founding member of the Geneva
Toilet Board Coalition, and have also received funding from Bill & Melinda Gates Foundation and Grand
Challenges Canada.
At the market level, SATO supports shared value creation. We aim to support lasting behavior change byhelping to create local sanitation and hygiene markets where communities play a vital role in bringing
sustainable change.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

9

SATO also plays an important role for LIXIL by instilling a sense of pride among employees and cultivating
brand affinity among partners and consumers because of our contribution to global sanitation andhygiene.
We are also confident that SATO will help LIXIL to develop new local sanitation and hygiene markets where
our other brands are currently not present.

SATO toilets bring the benefits of a flush toilet to areas that lack connection to a sewage system. Our SATO
solutions require less than 1,000ml water to flush, helping communities save water. SATO’s counterweight
trap door closes after each flush, minimizing unpleasant odors and insects that can carry disease.
This is very important in encouraging people to move from outdoor defecation to defecating in this actual
toilet. The product portfolio has also increased from a single toilet board to a full range of products,
including connection systems such as V-trap and I-trap systems.
Prices vary by product and location, but all SATO products are priced to be affordable in the markets inwhich they are sold.
In 2020, the team launched the SATO Tap, a novel handwashing solution developed in response to theglobal pandemic for homes and facilities without access to running water. Any type of plastic bottle serves
as a water tank for the SATO Tap. It is designed to release a steady but low-flow stream of water for
handwashing, while also limiting touch to mitigate contamination.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

10This new innovation was recently named one of TIME’s Best Inventions of 2020 in the Social Good Category
and was chosen as Innovation of the Year by the Ethical Corporation, among other global design awards.
A core strength of the SATO team is its ability to experiment quickly and effectively to develop consumercentric solutions, consistent with LIXIL’s overall values.

SATO's strength is its ability to develop end-user-centric solutions through quick and efficient repetitionof experiments, which is in line with the overall value of LIXIL.
SATO is part of the LIXIL brand portfolio and is an entry-level brand that meets the needs of the target
region. This is the first step in the sanitation.
SATO encourages underserved communities to access basic sanitation. The first step is critical in driving
long-lasting behavior change and moving to hygiene solutions at the top of the hygiene product pyramid.
The SATO brand also contributes to LIXIL’s long-term growth by helping establish LIXIL as a leader in thebase-of-the-pyramid market, whose consumers will eventually move on to higher value products.
Now I would like to share a video clip of SATO’s leader, Erin McCusker, who explains how SATO is building
itself as a base-of-the-pyramid brand working to achieve LIXIL’s global sanitation and hygiene goals.
[Video plays in English]

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

11Montesano*: As you can see in the video, SATO has grown its reach significantly and, we are proud to say
SATO has now shipped over 4.3 million units across 38 countries and as of last September 21 million
people have benefited from access to improved sanitation.
In fiscal year 2020, we hit the milestone of shipping 1 million units in a year and are continuing to grow.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

12Our roadmap to achieving our impact goal of 100 million lives by 2025 is on track. It's an ambitious but
realistic goal.
We believe that three points are important on the road to achieving this goal and ensuring thesustainability of SATO rests on three key areas:
First, SATO will further leverage its partnerships with NGOs, governments, and manufacturers to reinforce
marketing synergies and manufacturing capacity. We will also leverage our current manufacturing partners
to serve a greater footprint in each region, particularly in Africa and to export to new markets.
Second, SATO will enhance brand awareness to become a global standard for improved sanitation. We
will deploy new channels including digital marketing to reach influencers and key stakeholders, and offer
an expanded range of products in our core markets.
Third, SATO is working to increase operational efficiency by optimizing supply chain management andimproving internal operational processes.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

13

I’d now like to report on our efforts in "water conservation and environmental sustainability," the second
pillar of our CR strategy
As you can see, the world's consumption of energy, water, and natural resources has dramaticallyincreasing every year. Energy consumption in homes and offices accounts for 32% of total energy
consumption, and has more than doubled over the past 40 years. By 2050, the number is expected to
double further. Also by 2050, 4 billion people on the planet will be living without sufficient access to cleanwater. LIXIL has to respond to these environmental issues. At the same time, natural resources mined havemore than tripled since 1970 and are expected to double by 2050.
If LIXIL’s Purpose is to improve people's lives through better homes, it is essential that we recognize andfulfill our responsibility to solve these environmental issues.
There is a lot to do, for all of you as well. It's not just for LIXIL. We need to focus on what is really important
and where we can contribute.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

14

We also had to figure out where our strategy would fit in. So, we analyzed the CO2 emissions of our entire
value chain. As a maker of durable consumer goods with very long-life cycles, we understand that 90% of
our environmental impact comes from our products in use.
Therefore, although we recognize that the environmental impact of our operations is significant and weare working to lower our emissions and material use impacts, it is critical for us to work on enhancing andimproving our approach to designing and delivering more environmentally sustainable products.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

15

We have established our Environmental Vision for 2050. Through business processes, products, andservices, LIXIL aims to reduce CO2 emissions to net-zero, and to become a leading company that passeson the benefits of water and other limited resources to future generations.
In order to achieve this, we will focus climate change mitigation and adaptation, water sustainability, andcircular economy.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

16

LIXIL is promoting activities in these three priority areas from two perspectives. One is to reduce risks by
reducing the environmental impact of the entire value chain, and the other is to capture opportunities byimproving the environmental value of our products and services. We have set KPIs for each activity andmanage the progress toward achieving the goals.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

17

LIXIL had set up five-year medium-term environmental plans through the FYE2021. As you can see, there
are areas where we still need to accelerate our efforts, but we have made progress. In particular, weachieved our plan to cut CO2 by 14.3% as of the end of last FYE, compared to where we started in FYE2016.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

18

Now, let's talk about our product and service initiatives.
In the area of climate change mitigation and adaptation, LIXIL is providing products and services that
contribute to energy conservation in homes and the importance of Net Zero Energy House, and Net Zero
Energy Building.
Windows obviously play a key role in the insulation of the home. By 2026, 100% of LIXIL’s window sales
will be high-performance insulation windows.
In the area of water sustainability, we are looking at not only water savings, but also water purification andearly detection of leakage, all actions that improve water sustainability.
In the circular economy, we are promoting the expansion of products that take into consideration the useof resources throughout the lifecycle of products and services. In March, we launched our first Cradle toCradle gold certified product in Europe.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

19

As for our business operations, we are analyzing water risks at our factories globally, targeting sites withhigh medium- to long-term water supply risks. We are also improving water use efficiency and introducing
water recycling facilities.
In the area of circular economy, we published the Plastics Action Statement last year. This is an initiative
to replace all plastics used in product packaging with environmentally friendly materials. In EMENA, weplan to achieve this target within 2021.
I’d like now to introduce Thomas Fuhr, the leader of LIXIL International's Fittings business, from Germany
to explain more about the measures we are taking.
[Video plays in English]

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

20Montesano*: We know we still have much progress to make. We are now working on the formulation ofinterim targets that will serve as a roadmap to 2030 so we can be more confident about delivering our
2050 Environmental Vision.
We will use the TCFD framework to monitor and disclose our climate change progress. We will analyzerisks and opportunities, formulate strategies, and reflect them in our business plans as well as into ourdisclosure.
We understand how important it is to set targets that reinforce the perspective of capturing business
opportunities and providing value to society through LIXIL's products and services.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

21

The third pillar of our CR strategy is diversity and inclusion.
Actually, we have been working very hard recently to update our vision and strategy, and I am pleased toshare details with you for the first time today.
D&I forms the foundation of our transformation at LIXIL. For a long time, our D&I activities wereaspirational and not as well-aligned with the business reality.
To become a company that can achieve sustainable growth and deliver on our purpose, we must becomea truly consumer-centric organization. D&I is fundamental to achieving this goal.
As maker of pioneering water and housing products, LIXIL serves a consumer base as diverse as society
itself. That means we must be able to recognize and understand our consumers and users to anticipate
and empathize with their context and needs.
New ideas and technologies, however, can only come to life in a working environment that encourages
diverse perspectives to be shared and heard; in short, we must build a working environment that is truly
inclusive. Individuals must be able to openly and freely share their opinions with each other without
hesitation or an obligation to conform.
So, our D&I strategy will enable us to attract and retain the right talent, while developing and enhancing
our existing talent. It is on a foundation of D&I that we believe we can develop the innovative and purposeled culture we need at LIXIL, which will in turn create meaningful value for our consumers and society itself.
SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

22

Over the past few years, we have been on a journey to connect and integrate D&I into our global strategy.
In FYE2018, we announced our D&I declaration, a commitment to create an inclusive environment where
we can bring the strengths of our diversity to life, and where we can integrate D&I into our products andservices.
Since then, we have worked to establish a global framework to integrate D&I into our culturaltransformation.
With the leadership of the D&I committee, which I speak more about later, we have now established our2030 D&I vision and goals.
Simply put, inclusion is the real goal for us at LIXIL. If we can achieve inclusion, diversity will be the result.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

23

As an enterprise-wide target, we have chosen to focus on gender equality. This is by no means the only
area we are addressing, but we believe gender can serve as a proxy for tracking, monitoring and measuring
our progress toward a more inclusive organization.
This approach makes business sense, as women have a major say in the purchasing decisions of our
products. Women control 40% of wealth globally, and either directly make or influence up to 80% of allpurchases.
From this perspective, female talent across reporting lines will bring views and ideas that are critical to thetype of innovation we need at LIXIL.
If we can create an inclusive environment for women, we believe we create an inclusive environment for
all, including other under-represented communities. This will strengthen LIXIL in many ways.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

24

On this basis, our aim is to enhance gender equity across the organization by 2030. This includes having
women in 30% of leadership roles by 2030 across the company, and aiming for 50:50 in Board of Directors
and Executive Officer roles, also by 2030.
In addition, we have set region-specific targets such as reflecting the ethnic mix of the United States by2025 in the US business and maintaining 50:50 for our new graduates in Japan, which we achieved for the
first time this year.
When setting these targets, we were mindful of the past lessons learned in the area of D&I. These are notarbitrary targets. They are ambitious but realistic, based on detailed bottom-up modelling and simulations.
We obviously have a long way to go, what matters most however is the direction we are headed and theleadership commitment we have in place to achieve this plan. We have set an action plan for this fiscal
year onward which will commence a full HR review of all policies and practices to embed D&I into ourTalent Acquisition, Promotions, and Development processes. We would like to further strengthen thisstrategy.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

25

To ensure that D&I initiatives are at the core of LIXIL's transformation, we have established a framework
to promote and govern D&I, starting with the D&I Committee.
The D&I committee chaired by CEO Kinya Seto consists of the top business leaders and executives of thecompany.
This group needs to understand and be accountable for the strategies for building a stronger D&I culture.
At LIXIL, D&I is not an HR initiative, it’s a business priority.
There is no single solution to such a complex topic, so working with and enabling our businesses to define
their initiatives will ensure we make meaningful changes, while our global strategy enables us to achieve
enterprise-level goals.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

26

One of the best ways to create a more inclusive culture is to create more flexible working styles thatempower employees.
In Japan in particular, we have made significant strides in this area, introducing super-flex to cater toindividual lifestyles better. This has been especially helpful to working parents juggling children studying
from home.
We have also liberalized our policies to go to full remote working. Thanks to the tremendous groundworkof our Digital team, many digital tools are available to employees to make remote working easier. As aresult, we are redefining the role of the office.
We are also empowering employees to design their own career paths. Employees are encouraged toconsider actively their professional interests and pursuits, with managers and HR supporting careerdevelopment.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

27

D&I isn’t just about how we work; it is also a critical source of insights and creativity behind productconcepts that are consumer centric.
One example is the LHT-J Business Incubation Center, established in April 2019 to quickly bring uniqueproducts and solutions that may not currently exist in the market.
DOAC is an automation system that allows people using wheelchairs and strollers to open and close theirhome doors with the push of a button. Working with SSAP to gather first-hand inputs from people withdisabilities, we asked 1,000 wheelchair users for their opinions about home door usage conditions. DOAC,
launched in summer 2020, can be added to the entrance in one day without large-scale refurbishment
work and has potential use cases far beyond only wheelchair users.
We have seen a growing number of examples of consumer-centric innovation at LIXIL, such as our Online
Showroom services in Japan, or Walk in Tubs in the US.
In the case of “Nyanpeki”, a young talent championed the development of a wall product designed forcats. The concept achieved its crowd-funding goal within 24 hours, bringing product to market in around
10 months since inception.
D&I brings us closer to achieving our corporate purpose.
If we want to develop the innovations our consumers need and attract the talent to deliver on our purpose,
D&I must be at the heart of our cultural transformation, and we are taking steps to turn it into reality.
Thank you very much.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

28

MC: Next, Mr. Matsuzaki, Chairman of the Board, will explain about corporate governance at LIXIL.

Matsuzaki: I would now like to explain LIXIL's corporate governance.
Today, I would like to talk about these two points: How LIXIL's Board is run, and how it actually operates.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

29

In the case of LIXIL, the members of the Board were reset and a large number of outside Directors came
together, so we decided that it would be important to have an idea of how to manage the Board.
First of all, we have been working on corporate governance based on the idea that it supports sustainablegrowth. In other words, oversight by directors who possess broad expertise helps to sound alert if thecompany is about to go off track, encourage changes as needed, and point out risks that the executive
management team is not aware of. We have been working with the idea that this will support sustainablegrowth.
Secondly, LIXIL is a Company with a Nomination Committee, etc. so the role of the Board of Directors is
to supervise the execution of management, but what does supervision mean? We thought that this isactive oversight.
In other words, we do not want to monitor every move of the management as if we were using asurveillance camera.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

30

Specifically, we would like to maintain a moderate distance from the executive management team to findout what is happening, what is working and what is not. Then where are the risks and where are thepossibilities? We should try to understand these things, and then actively express our constructive opinions.
We would never interfere with the execution of management. We would not overstep our authority. This
is what we have been doing.
The important thing is to know what to supervise, and there are three things.
The first is to appoint executive officers including the CEO and determine the compensation system. The
second is to approve the basic management policies, i.e., management objectives, medium-term direction
and goals. The third is to approve the internal control system, or the management system to ensure thatthe executive management team produces results.
With these three things in mind, we will oversee the execution of management. We have been doing under
the recognition that this is the role of the Board of LIXIL.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

31

So what kind of management have we actually done? Today, due to time constraints, I would like to talkabout three things.
The first step is to set the agenda for the Board meeting. This was not only set based on the needs of theexecutive side, but also on the concerns of the supervisory side and the matters we wanted to confirm.
For example, we wanted to confirm the status of management strategy initiatives. Or, in relation to today's
theme, initiatives on SDGs, including the environment. The Board has been interested in the same things
that Ms. Montesano mentioned today.
It was also important to consider the concept of capital allocation with an awareness of the cost of capital.
When discussing dividend policy, we also confirmed the concept of capital allocation at the top of the list.
We have made these requests and set them on the agenda.
Secondly, since Mr. Seto's return as the CEO, he has made several major decisions. I would like to talkabout how the Board of Directors has been involved in such major decisions.
In this regard, when making these major decisions, the executive side provide information on the statusof the study in advance and explain the issue.
In response, the outside Directors ask various questions from their own perspectives and ask for
explanations. While repeatedly deliberating in such a way, we ultimately make decisions, taking care not
to make major errors in judgment on important matters.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

32

For example, the divestment of the Permasteelisa. Of course, there was a lot of debate about whether or
not it was a good idea to sell at a large loss. The decision was made based on the judgment that it would
be in the best interest of the Company to eliminate the fluctuation and uncertainties in the future
performance of the Company.
Then there was the business integration of former LIXIL Corporation and LIXIL Group Corporation.
Although the merger required changes to the articles of incorporation and placed a burden on theadministrative staff, we decided that it was better to have a simple basic organizational structure, which
would allow for more efficient management and less risk. This was the basic idea behind the approval.
The third is New Life, which is a HR program. There were some objections as to whether it was appropriate
to ask for voluntary retirement amid the COVID-19 crisis. However, the idea of the executive team is tocreate a company where the younger generation can play an active role and to create value throughinnovation based on the entrepreneurial spirit. The Board of Directors has decided to support this idea,
and has given the approval.
Third, we are currently working to create a new type of governance in the LIXIL style. The outside Directors
take the lead in creating the model and submit proposals, which are then reported to the Board of
Directors.
After all, the center of this pattern-making process is the Nomination Committee, so the Chairperson, Mr.
Nishiura, will talk about the status of this pattern-making process, focusing on the CEO succession plan.
Another unique aspect of our patternmaking is that we have established a delegated governancecommittee.
The main purpose of this is to ensure that we do not concentrate too much power in the hands of certain
people or certain committees. For this reason, the evaluation of the effectiveness of the Board of Directors
is conducted through the Governance Committee.
Today, due to time constraints, I have explained these three points. Thank you very much for your attention.
MC: Thank you very much.
Mr. Nishiura, Chairperson of the Nomination Committee, will continue with an explanation of corporate
governance by the Nomination Committee.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

33

Nishiura: My name is Nishiura, Chairperson of the Nomination Committee. Thank you.
In the previous presentation by Chairperson of the Board, Mr. Matsuzaki, he explained that corporate
governance supports the sustainable growth of companies. This is a very important message that I would
like to share with you.
In other words, in order to sustainably enhance corporate value, we must build a solid foundation forcorporate governance. To use an analogy, the idea is that only when the foundation of a building is solid
can a tall building be built on top of it.
The Nomination Committee has been working to stabilize and improve the quality of corporate
governance from a human perspective.
There are three main roles. Selection of candidates for the Directors, selection of candidates for the
Executive Officers, and selection of candidates for the CEO.
Today, I would like to talk about the third point, the selection and dismissal of the CEO, in some detail.
We believe that this is the key to success in achieving sustained growth in corporate value. In fact, as wehave seen in the past, if a major problem arises in the appointment or replacement of such a person, it
can lead to a significant loss of corporate value.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

34

I will show you what we have been working on specifically on the next slide.
There are two main perspectives.
One is to revise and improve the regulations, including those of the Nomination Committee. This includes
not only the selection, but also the pros and cons of dismissal and reappointment. The results of thedeliberations of the Nomination Committee shall be submitted to the Board of Directors.
I would also like to add just one more thing: pros and cons of the reappointment. We are deliberating thisevery year from three perspectives: business performance and stock price trends, the progress of measurestaken, and the opinions of surrounding directors and executive officers.
On the other hand, in order to complement these regulations, we developed a succession plan for the CEOlast October. This is the first version.
We have clarified our approach, rules, and process for future CEO changes at the Company. In addition,
we have developed the first version of the candidate pipeline and candidate list. Anyway, we have been
trying to create a thorough and transparent system.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

35

Let me add a few words about this CEO succession plan.
There are five points.
One is, of course, to have a clear process for choosing when the time comes, but also to be prepared forit. We believe that this is extremely important. This includes the maintenance and updating of thecandidate pipeline that I mentioned earlier and providing training opportunities for candidates.
We also thoroughly discussed the ideal CEO image for LIXIL.
In addition, I would like to mention that in principle, the CEO's successor should be selected from theinternal succession candidate pipeline.
In addition to the CEO, we are also considering the development of the entire management team, including
senior vice president and general managers, as well as succession planning.
In addition, as I will explain later, the CEO selection process is divided into emergency and normal
situations.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

36

Please allow me to add a few words only on two points.
I won't go into the details of the ideal CEO image here, but it is not the type of CEO who can handle agiven situation without a hitch, but the type who creates new situations on his own. We will continue toseek this out.
Five specific qualities and requirements are listed here. Communication skills, among other things. In a
global company like LIXIL, which was formed by the integration of several companies, we believe that theability to communicate one's own ideas in one's own words is extremely important.
The only other point I would like to make is what is written in numbers three and four. Ethics and honesty.
We will continue to discuss these as extremely important requirements in the selection process.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

37

In fact, when it becomes necessary to select and replace the CEO. This can be divided into various cases,
but basically, we divide it into two categories: emergencies and normal times.
Emergencies, this is when an unexpected change is needed. In this case, the Nomination Committee willtake the lead in making the decision.
Our company is characterized by the fact that we have two representative executive officers. Currently,
one of them is CFO, Mr. Matsumoto. We currently have a process of selecting a permanent CEO after
appointing the representative executive officer as the interim CEO.
Normal time. The selection process begins with the current CEO's suggestion that it is time for him to step
down, or with the Nomination Committee's discussion.
In this regard, as I mentioned earlier, our approach is to give priority to internal candidates.
This is roughly the process of selecting a CEO, and the thinking and process during emergencies andnormal times.
If you have any questions, I will try to provide additional information in response to your questions. Thankyou very much for your attention.
MC: Thank you very much.
This concludes today's presentation from our company.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

38

Question & Answer
MC: Next, we will have a question-and-answer session.
The question-and-answer session will be divided into two parts: the first part will be for questions frominvestors, and the second part will be for questions from the media.
Please note that your questions are limited to what we have explained to you today. We would appreciate
your understanding in advance.
The questions will be answered by Mr. Matsuzaki, Mr. Nishiura, Mr. Seto, and Ms. Montesano, who gave
the presentation today.
We will now take the first question from the investors.
Today we have questions that several people emailed us in advance, so we will start with those.
This is the first question. "LIXIL aims to empower women but the ratio of female managers has not risenover the past two to three years. Why?"
Mr. Seto, please.
Seto: LIXIL was established in 2011, and at that time, the ratio of women in the Company was very low. In
the first place, we didn't recruit many women. Not only were we not hiring many female career-track
employees, but since we were a traditional Japanese company, there were also many people who quit after
marriage or childbirth.
On the other hand, in 2015 or so, we forced ourselves to set a goal of increasing the percentage of female
managers promoted to 30%. However, this was not a realistic goal, and almost all of the candidates were
exhausted in about two years. At that point, everyone who could be made a manager was made a manager
within two years, so there was no pool of people to choose from.
After I joined, I thought that this was going to be a problem unless I made some fundamental changes, so
I did a few things first.
First of all, we needed to increase the percentage of women hired for career-track positions. Even if weincreased the number of employees at that time, there was nothing we could do if they ended up quitting,so we decided that we had to create a workplace where women could work comfortably, and we changed
various systems.
For example, we have been working on super-flex, and also increasing the ratio of women working fromhome. We also had to create a meritocracy that would make it easier for women from outside to enter theCompany, making it easier for them to enter and harder for them to leave, and increasing the number ofcandidates for management positions.
One more thing, in the end, it was around 2011 that we started to hire female career-track employees inearnest. In the spring of this year, 50% of the workforce is female, but even the most senior female careertrack employee who wants to become a manager is in her early 30s.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

39

Therefore, although we tried to change the old seniority system of the Company, the ratio of managers intheir 50s still stands at about 60%, which means that women will not be selected for management positions
unless there is a change in the age group.
If we do this, we will not only have to change the way the Company itself works, but we will also have tochange from a seniority-based system to a meritocracy. We have also put a lot of effort into changing thesystem for this purpose.
Finally, in that sense, the system and the pipeline are coming together. Perhaps even so, the number ofcandidates will still be low for a year or two. Now, women who are still young and would not normally becandidates for management positions are actively trained and given development opportunities. In doing
so, I believe that we will be able to increase the number rapidly, probably starting in the next two to three
years.
In that sense, we have set a goal of 2030, and we are trying to increase the number by then.
In a nutshell, this company has a ratio of women that is not representative of the world's demographics,
so it's quite a challenge to change that. I think the reason why we haven't been able to do so in the past
two or three years is that we started without having prepared for it, and now we are starting again.
MC: Thank you very much.
We have received one more question via email.
"You mentioned a partnership with UNICEF, but what exactly is that?"
Mr. Montesano, could you answer this question?
Montesano*: The partnership with UNICEF was signed in 2018. In fact, it was the first of UNICEF's Shared
Value Partnerships.
As many of you know, over several decades, UNICEF has been working on introducing the CLTS
(Community-Led Total Sanitation) program. This is an effort to change the behavior from open defecation
to using toilets. It is an effort to change the behavior in rural areas around the world and create a safe
sanitation environment.
However, even if UNICEF was able to encourage behavioral change to get people to try using the toilet,
there were not many manufacturers offering safe affordable toilets.
We provide the supply, and UNICEF creates the demand for these safe affordable toilets. We started thisinitiative first in Ethiopia, Tanzania, and Uganda, and have since expanded it to other markets.
At the same time, we will work together to solve this supply chain challenge and bring this product to themarket. That includes the last mile communities, communities that are difficult to reach with our products.
We are also working together with UNICEF to contribute to the promotion of government-led hygiene
improvement measures in the major countries we operate. This is the outline of the partnership. We've
just crossed the halfway point of this partnership for the third year. The goal is to build a local hygiene
market to achieve sustainable behavioral change.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

40MC: Now, I would like to introduce some of the questions we have received on the video distribution
platform. We have received this from Mr. Fukushima of Nomura Securities.
"There was talk of a CEO succession pipeline. How many people are there now? Considering the corporate
culture that your company would like to have, I think that the CEO does not necessarily have to be Japanese,but could a foreigner be the CEO?"Nishiura: Let me answer.
The current pipeline and candidate list include roughly 12 to 13 people right now. Naturally, foreigners
are included in this group.
We are not going to think about this pipeline in a fixed way. We will keep an eye on various training
opportunities for senior management, and we may consider adding new candidates from a younger
generation in the future. That's all.
MC: Thank you very much.
We have received one more question. The following is also a question received from Mr. Fukushima of
Nomura Securities.
"I looked at page 21 of today's document and the Corporate Responsibility Report data book. I think you
have a CO2 emission reduction target. You mentioned that you will reduce the Scope 11 of Category 3 by
15% from the FY2015 level by FY2030, but CO2 emissions were 116.93 million tons in the fiscal year ended
March 2020, which is very large, but what products in particular have large CO2 emissions? How do you
plan to reduce it? What is the level of your environment-related sales?"Seto: First of all, there are metal products and water-related products, and metal products include theprocess of melting aluminum, for example. This is the place for aluminum sashes, which have a fairly highenvironmental impact.
There are various ways to lower the emissions, for example, one way is to buy billets for general-purpose
products instead of purchasing the ingots and making from ingots.
Also, by buying from scrap instead of from ingots, the melting time in the electric furnace is shorter thanfrom ordinary ingots, so the reduction of CO2 emissions is a very important factor for metal products.
The other big thing is that sanitary ware has a process that uses a lot of gas. We believe that various
technologies will be developed in the future to harden ceramics. We can lower the emissions on that partas well.
Also, from a longer-term perspective, there is the problem that the lifespan of products in Japan is now
very short. I think it's a bad cycle that new buildings are built, and after about 20 years, they are scrapped
and rebuilt again.
This is a bit of a contradiction in terms of the economy and the environment, but in the long run, I think it
is more important to make good and long-lasting products.
For example, as Jin was explaining earlier, 32% of the world's energy consumption is related to construction.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

41

In fact, the most energy consuming part of architecture is the opening. Windows. There is a lot of energy
loss through windows. In the case of Japan, there are tens of millions of houses with windows that do noteven comply with the environmental standards for the year 2016. For example, by simply switching fromsingle glazing to triple glazing, energy can be saved by almost 90%.
I believe that one of our major missions is to improve the environment on a global scale by making
products that are excellent from our point of view and that have high insulation properties.
In short, we believe that it's not just important how the Company views the reduction of CO2 emissions.
In terms of reducing CO2 emissions, for example, we have reduced CO2 emissions in our flushing plant tozero by using solar power generation.
More importantly, the products we make have a long-lasting impact on the world's CO2 emissions andenergy consumption. In order to create better products, I believe that how we contribute to the world isactually a very important thing.
MC: Thank you very much.
Now, I would like to introduce another question that we received via email.
"Please tell us about the number of Directors. Is there an excess or deficiency in the current number ofpeople?”Matsuzaki: I will answer the question.
As for the overall number of Directors, we had a discussion at the Nomination Committee about theappropriate number of Directors to be appointed one year after the new members were appointed in fiscal
year 2019, based on the opinions of the executive side and Mr. Seto. As a result, we decided that aboutnine people would be good.
We are not fixing the number of members to nine, but if there are too many, we will not be able to havea fruitful discussion as I explained today. So, I think that the number of people we have now is appropriate.
In the case of our company, the majority of the three committees are outside Directors, so we would needat least five or six outside Directors. Considering these factors, I think we have come to a good conclusion
in terms of the current ratio and the overall number of people through the Nomination Committee’s
discussions.
MC: Thank you very much.
We have received one more question via the platform. The following question was received from Mr.
Teraoka from Daiwa Securities.
"What are the reasons why you decided in principle to select the CEO successor from the internal pipeline?"
Nishiura: I will explain.
We had a lot of discussions here, too. In the past, we have often found CEO candidates from outside theCompany, but from the perspective of having a thorough knowledge of the business, we first examined
whether or not there were any candidates within the Company. As a result of these considerations, weSupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

42

have decided that there are enough candidates within the Company, and the list of successors is currently
made up of only internal candidates.
However, as I told you earlier, we will review this list every year, and we will also add younger people to it.
I believe that there are enough candidates to be selected internally when we look at the younger
generation as well. That's all.
MC: Thank you very much.
Now, I would like to take this time to introduce some questions from the press. Currently, I don't seem tohave received any write-ups, but if you have any questions, we would be happy to answer them.
Seto: Regarding Mr. Nishiura's comment earlier, as a practical matter, if we want to work together onvarious projects, it is difficult to find people from outside the Company to choose from.
I wondered if someone with a real track record outside the Company would be able to do well in the
Company. I know I'm coming from outside the Company, but if I were in Mr. Nishiura's position and was
asked to find someone from outside the Company, I think I would have a very difficult time.
Nishiura: We think it could be very risky. Above all, trying to find a candidate from outside the Company
when there are enough candidates within the Company will lower the motivation of the Company.
Therefore, from various perspectives, I think it is very reasonable to give priority to the candidates within
the Company.
Seto: That's the difference between Japan and other countries, isn't it? There's not much of a pool, outside
the Company.
Matsuzaki: You're right.
Matsuzaki: I would add, so succession planning will be thought in conjunction with the managementhuman resource development. So, we will think about it for a certain period of time and develop the rightpeople to be CEO. This is an important theme, and Mr. Seto and Ms. Montesano are now creating a
program. I think it is important to think of them together.
Seto: In my previous company, MonotaRO, we chose it from within the company. In other countries,
outside the company might have been a strong option, but when I look at it from the perspective of amanager, I think it would be irresponsible for me to leave without training my successor.
So, unless I am forced to quit, if I choose to quit, I must have a proper successor. At the very least, I think
it is my job to develop some successors who can be chosen by the Nomination Committee.
MC: Thank you very much.
Do you have any other questions? Thank you very much for your various and many questions.
Since there are no other questions, I would like to conclude the question-and-answer session.
If you have any other questions regarding today's presentation, please contact the Corporate
Communications Department or the Investor Relations Office, and we will be happy to answer yourquestions.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

43This concludes the LIXIL Corporation ESG briefing "Enabling Sustainable Value Creation." Thank you foryour continued support for LIXIL.
[END]______________
Document Notes
1.
2.
3.

SupportJapan
TollfreePortions of the document where the audio is unclear are marked with [Inaudible].
Portions of the document where the audio is obscured by technical difficulty are marked with [TD].
This document has been translated by SCRIPTS Asia.

03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

44Disclaimer
SCRIPTS Asia reserves the right to edit or modify, at its sole discretion and at any time, the contents of thisdocument and any related materials, and in such case SCRIPTS Asia shall have no obligation to provide
notification of such edits or modifications to any party. This event transcript is based on sources SCRIPTS
Asia believes to be reliable, but the accuracy of this transcript is not guaranteed by us and this transcript
does not purport to be a complete or error-free statement or summary of the available data. Accordingly,
SCRIPTS Asia does not warrant, endorse or guarantee the completeness, accuracy, integrity, or timelinessof the information contained in this event transcript. This event transcript is published solely for
information purposes, and is not to be construed as financial or other advice or as an offer to sell or thesolicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would beillegal.
In the public meetings and conference calls upon which SCRIPTS Asia’s event transcripts are based,companies may make projections or other forward-looking statements regarding a variety of matters. Suchforward-looking statements are based upon current expectations and involve risks and uncertainties.
Actual results may differ materially from those stated in any forward-looking statement based on a numberof important factors and risks, which are more specifically identified in the applicable company’s mostrecent public securities filings. Although the companies may indicate and believe that the assumptions
underlying the forward-looking statements are accurate and reasonable, any of the assumptions could
prove inaccurate or incorrect and, therefore, there can be no assurance that the anticipated outcome
described in any forward-looking statements will be realized.
THE INFORMATION CONTAINED IN EVENT TRANSCRIPTS IS A TEXTUAL REPRESENTATION OF THE
APPLICABLE PUBLIC MEETING OR CONFERENCE CALL. ALTHOUGH SCRIPTS ASIA ENDEAVORS TO
PROVIDE ACCURATE TRANSCRIPTIONS, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR
INACCURACIES IN THE TRANSCRIPTIONS. IN NO WAY DOES SCRIPTS ASIA OR THE APPLICABLE
COMPANY ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BY ANYPARTY BASED UPON ANY EVENT TRANSCRIPT OR OTHER CONTENT PROVIDED BY SCRIPTS ASIA. USERS
ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S PUBLIC SECURITIES FILINGS BEFORE MAKINGANY INVESTMENT OR OTHER DECISIONS. THIS EVENT TRANSCRIPT IS PROVIDED ON AN "AS IS" BASIS.
SCRIPTS ASIA DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT
LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE,FREEDOM FROM BUGS, SOFTWARE ERRORS OR DEFECTS, AND ACCURACY, COMPLETENESS, AND NONINFRINGEMENT.
None of SCRIPTS Asia’s content (including event transcript content) or any part thereof may be modified,
reproduced or distributed in any form by any means, or stored in a database or retrieval system, without
the prior written permission of SCRIPTS Asia. SCRIPTS Asia’s content may not be used for any unlawful or
unauthorized purposes.
The content of this document may be edited or revised by SCRIPTS Asia at any time without notice.
Copyright © 2020 SCRIPTS Asia Inc. ("SCRIPTS Asia"), except where explicitly indicated otherwise. All rights
reserved.

SupportJapan
Tollfree03.4405.3160
0120.966.744

North America
Email Support

1.800.674.8375
support@scriptsasia.com

45