Flash Report

LIXIL CORPORATION

October 31, 2022

Consolidated Financial Results for the First Half Ended September 30, 2022

(International Financial Reporting Standards)

Company Name:

LIXIL CORPORATION

Stock Listings:

Tokyo, Nagoya

Code Number:

5938

URL: https://www.lixil.com/en/investor/

Representative:

Kinya Seto, Director, Representative Executive Officer, President & CEO

Telephone:

+81-3-6706-7001

Contact:

Kayo Hirano, Senior Vice President, Leader, Investor Relations Office

and Leader, Finance ＆ Treasury - Corporate Accounting ＆ Treasury/Tax

Scheduled date of issue of quarterly financial report:

November 11, 2022

Schedule date of payment of interim dividends:

November 25, 2022

Preparation of supplementary materials for quarterly financial results: Yes

Information meeting for quarterly financial results to be held:

Yes (For investment analysts and institutional investors)

(Amounts less than one million yen are rounded)

1. Consolidated Financial Results for the H1 of FY Ending March, 2023 (April 1 through September 30, 2022)

(1) Consolidated Operating Results

(% indicate changes from the figures of corresponding period of the previous fiscal year)

From Continuing Operations

Revenue

Core earnings

Operating profit

Profit before tax

Profit for the quarter

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Million yen

%

FYE 2023 H1

732,650

5.2

6,156

-83.5

10,039

-73.0

9,995

-71.9

4,749

-81.7

FYE 2022 H1

696,213

5.4

37,271

142.5

37,161

210.3

35,593

233.3

25,971

311.7

Including Discontinued Operations

Profit for the quarter

Total comprehensive

Basic earnings

Diluted earnings

Profit for the quarter

attributable to

income for the

per share

per share

owners of the parent

quarter

Million yen

%

Million yen

%

Million yen

%

Yen

Yen

FYE 2023 H1

3,919

-84.8

3,710

-85.6

46,329

87.7

12.85

12.85

FYE 2022 H1

25,780

76.1

25,707

136.5

24,685

20.7

88.46

84.02

Note: Core earnings is calculated by deducting the cost of sales and selling, general and administrative expenses (SGA) from revenue.

(2) Consolidated Financial Position

Equity attributable to

Ratio of equity attributable

Total assets

Total equity

to owners of the parent to

owners of the parent

total assets

Million yen

Million yen

Million yen

%

FYE 2023 H1

1,888,799

639,167

636,405

33.7

FYE 2022

1,782,882

614,968

612,385

34.3

2. Cash Dividends

Dividends per share

End of Q1

End of Q2

End of Q3

End of period

For the year

Yen

Yen

Yen

Yen

Yen

FYE 2022

－

40.00

－

45.00

85.00

FYE 2023

－

45.00

FYE 2023

－

45.00

90.00

(forecast)

Note: Revision

of dividends forecast after the recent announcement: None

- 1 -

3. Consolidated Forecast for the FY Ending March, 2023 (April 1, 2022 through March 31, 2023)

(% indicate changes from the figures of corresponding period of the previous fiscal year)

From Continuing Operations

Revenue

Core earnings

Operating profit

Profit before tax

Profit for the year

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Million yen

%

FYE 2023

1,560,000

9.2

42,000

-35.3

39,000

-43.9

36,500

-45.7

26,000

-48.6

Including Discontinued Operations

Profit for the year

Basic earnings

Profit for the year

attributable to

per share

owners of the parent

Million yen

%

Million yen

%

Yen

FYE 2023

25,500

-47.7

25,000

-48.6

86.61

Note: Revision of consolidated operating performance forecast after the recent announcement: Yes

Note: The reason for the revision of the consolidated financial forecast is as stated in the "Announcement of Revision of Consolidated Financial Forecast for the Fiscal Year Ending March 2023" announced on October 31, 2022.

Note: The average number of shares during For the six months ended September 30, 2022 is used as the basis to calculate "Basic earnings per share".

  • Notes
  1. Changes in significant subsidiaries, which affected the scope of consolidation during this period: None
    Newly consolidated company: None
    Excluded company: None
  2. Changes in accounting policies and accounting estimate
    1. Changes in accounting policies required by IFRS: None
    2. Other changes: None
    3. Changes in accounting estimate: None
  4. Outstanding shares (Common shares)

(i) Outstanding shares including treasury shares

(September 30, 2022)

287,109,659

shares

(FY ended March 31, 2022)

(ii) Treasury shares

(September 30, 2022)

48,362

shares

(FY ended March 31,

2022)

(iii) Average number of shares during the first half

(September 30, 2022)

288,639,897

shares

(September 30,

2021)

313,319,159 shares

22,580,170 shares

290,609,099 shares

* This financial results report is exempt from review procedures under Japan's Financial Instruments and Exchange Law.

*Appropriate use of business forecasts, other special items (Cautionary statements with respect to forward-looking statements)

Performance forecast and other forward-looking statements contained in this report are based on information currently available and on certain assumptions deemed rational at the time of this report's release. Due to various circumstances, however, actual results may differ significantly from such statements.

Note: Presentation material to supplement the financial results announcement has been posted on TDnet and the Company's website.

Note: The Company plans to change the contact telephone number from the currently used "+81-3-6706-7001" to "+81-50-1790-5041" effective November 14, 2022.

- 2 -

LIXIL Corporation (TSE Code 5938) H1 Results for the FY Ending March 2023

4. Consolidated Financial Statements

(1) Consolidated Statement of Financial Position

(Unit: millions of yen)

End of H1

As of March 31, 2022

(As of September 30,

2022)

ASSETS

Current assets:

Cash and cash equivalents

Y

100,404

Y

114,781

Trade and other receivables

280,409

286,329

Inventories

237,927

294,066

Contract assets

19,408

22,346

Income taxes receivable

923

3,285

Other financial assets

23,095

22,020

Other current assets

25,180

23,067

Subtotal

687,346

765,894

Assets held for sale

27,261

26,954

Total current assets

714,607

792,848

Non-current assets:

Property, plant and equipment

373,301

372,157

Right of use assets

54,023

63,973

Goodwill and other intangible assets

471,303

498,439

Investment property

4,045

4,045

Investments accounted for using the equity method

10,699

10,811

Other financial assets

62,361

51,377

Deferred tax assets

83,315

85,249

Other non-current assets

9,228

9,900

Total non-current assets

1,068,275

1,095,951

Total assets

Y

1,782,882

Y

1,888,799

- 3 -

LIXIL Corporation (TSE Code 5938) H1 Results for the FY Ending March 2023

(Unit: millions of yen)

End of H1

As of March 31, 2022

(As of September 30,

2022)

LIABILITIES AND EQUITY

LIABILITIES

Current liabilities:

Trade and other payables

Y

333,680

Y

321,446

Bonds and borrowings

132,029

245,572

Lease liabilities

17,681

18,510

Contract liabilities

9,377

11,246

Income taxes payable

10,926

9,843

Other financial liabilities

5,638

8,157

Provisions

656

648

Other current liabilities

93,014

88,486

Total current liabilities

603,001

703,908

Non-current liabilities:

Bonds and borrowings

337,510

318,719

Lease liabilities

37,483

45,736

Other financial liabilities

26,968

27,629

Net defined benefit liabilities

78,441

67,206

Provisions

8,028

8,371

Deferred tax liabilities

61,875

67,474

Other non-current liabilities

14,608

10,589

Total non-current liabilities

564,913

545,724

Total liabilities

1,167,914

1,249,632

EQUITY

Share capital

68,418

68,418

Capital surplus

278,635

221,808

Treasury shares

-47,542

-105

Other components of equity

44,954

73,970

Retained earnings

267,920

272,314

Equity attributable to owners of the parent

612,385

636,405

Non-controlling interests

2,583

2,762

Total equity

614,968

639,167

Total liabilities and equity

Y

1,782,882

Y

1,888,799

- 4 -

LIXIL Corporation (TSE Code 5938) H1 Results for the FY Ending March 2023

  1. Consolidated Statements of Profit or Loss and Comprehensive Income Consolidated Statement of Profit or Loss

(Unit: millions of yen)

Six months ended

Six months ended

September 30, 2021

September 30, 2022

Continuing operations

Revenue

Y

696,213

Y

732,650

Cost of sales

-452,009

-503,393

GROSS PROFIT

244,204

229,257

Selling, general and administrative expenses

-206,933

-223,101

Other income

4,812

7,939

Other expenses

-4,922

-4,056

OPERATING PROFIT

37,161

10,039

Finance income

2,634

2,458

Finance costs

-3,702

-2,633

Share of profit (loss) of associates accounted for using the equity

-500

131

method

PROFIT BEFORE TAX FROM CONTINUING OPERATIONS

35,593

9,995

Income tax expenses

-9,622

-5,246

PROFIT FOR THE QUARTER FROM CONTINUING OPERATIONS

25,971

4,749

Discontinued operations

LOSS FOR THE QUARTER FROM DISCONTINUED OPERATIONS

-191

-830

PROFIT FOR THE QUARTER

25,780

3,919

Profit (loss) for the quarter attributable to:

Owners of the parent

Continuing operations

25,898

4,540

Discontinued operations

-191

-830

Total

25,707

3,710

Non-controlling interests

Continuing operations

73

209

Discontinued operations

－

－

Total

73

209

PROFIT FOR THE QUARTER

Y

25,780

Y

3,919

- 5 -

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LIXIL Group Corporation published this content on 31 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2022 06:38:54 UTC.