LIXIL : Consolidated Financial Results for the First Quarter Ended June 30, 2021 (International Financial Reporting Standards)

Flash Report

Consolidated Financial Results for the First Quarter Ended June 30, 2021

(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, President & CEO	Telephone:	[phone]
Contact:	Kayo Hirano, Senior Vice President, Leader, Investor Relations Office

Scheduled date of issue of quarterly financial report:		August 6, 2021
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 Q1 of FY Ending March, 2022 (April 1 through June 30, 2021)
(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 2022 Q1	345,761	11.4	23,076	－	23,933	－	22,926	－	16,869	－
FYE 2021 Q1	310,458	-14.6	-2,633	－	-3,079	－	-2,915	－	-3,978	－
			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 2022 Q1	16,843	－	16,825	－	16,908	205.6	57.91		54.96
FYE 2021 Q1	-2,446	－	-3,719	－	5,532	199.8	-12.82		-12.82

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

(2) Consolidated Financial Position			Ratio of equity attributable
			Equity attributable to
	Total assets	Total equity	to owners of the parent to
	owners of the parent
			total assets
FYE 2022 Q1	Million yen	Million yen	Million yen	%
1,739,605	561,377	558,887	32.1
FYE 2021	1,741,814	554,767	552,271	31.7
2. Cash Dividends
			Dividends per share
	End of Q1	End of Q2	End of Q3	End of period	For the year
FYE 2021	－		－
FYE 2022	－
FYE 2022		40.00	－	40.00	80.00
(forecast)

Note: Revision of dividends forecast after the recent announcement: None

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3. Consolidated Forecast for the FY Ending March, 2022 (April 1, 2021 through March 31, 2022)

(% 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	%
	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

Note: Revision of consolidated operating performance forecast after the recent announcement: None

• 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
3. 1. Changes in accounting policies required by IFRS: None
   2. Other changes: None
   3. Changes in accounting estimate: None
4. Outstanding stocks (Common stocks)

(i) Outstanding stocks including treasury stocks	(June 30, 2021)	313,319,159	shares	(FY ended March 31, 2021)
(ii) Treasury stocks	(June 30, 2021)	22,614,240	shares	(FY ended March 31,	2021)
(iii) Average stocks during three months (Apr - Jun)	(June 30, 2021)	290,538,540	shares	(June 30,	2020)

313,319,159 shares

23,091,924 shares

290,102,787 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: Regarding presentation material to supplement the financial results announcement has been posted on TDnet and the Company's website.

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LIXIL Corporation (TSE Code 5938) Q1 Results for the FY Ending March 2022

4. Consolidated Financial Statements

1. Consolidated Statement of Financial Position

(Unit: millions of yen)

	As of March 31, 2021		End of Q1
	(As of June 30, 2021)
CURRENT ASSETS:
Cash and cash equivalents	Y	111,061	Y	109,548
Trade and other receivables		284,369		276,469
Inventories		180,417		193,129
Contract assets		17,650		22,656
Income taxes receivable		9,776		9,919
Other financial assets		13,880		11,407
Other current assets		19,262		19,651
		636,415		642,779
Assets held for sale		1,358		637
Total current assets		637,773		643,416
NON-CURRENT ASSETS:
Property, plant and equipment		402,669		398,074
Right of use assets		62,417		60,939
Goodwill and other intangible assets		453,456		454,443
Investment property		4,931		4,513
Investments accounted for using the equity method		10,871		10,046
Other financial assets		83,080		80,825
Deferred tax assets		77,939		78,722
Other non-current assets		8,678		8,627
		1,104,041		1,096,189
Total assets	Y	1,741,814	Y	1,739,605

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LIXIL Corporation (TSE Code 5938) Q1 Results for the FY Ending March 2022

(Unit: millions of yen)

	As of March 31, 2021		End of Q1
	(As of June 30, 2021)
LIABILITIES
CURRENT LIABILITIES:
Trade and other payables		299,363		276,080
Bonds and borrowings		164,204		155,562
Lease liabilities		17,339		16,916
Contract liabilities		9,738		11,338
Income taxes payable		5,220		6,113
Other financial liabilities		5,408		6,246
Provisions		1,313		865
Other current liabilities		84,343		94,365
Total current liabilities		586,928		567,485
NON-CURRENT LIABILITIES:
Bonds and borrowings		366,923		375,199
Lease liabilities		47,039		45,264
Other financial liabilities		25,757		26,974
Net defined benefit liabilities		80,939		82,354
Provisions		7,860		7,830
Deferred tax liabilities		56,468		57,708
Other non-current liabilities		15,133		15,414
		600,119		610,743
Total liabilities		1,187,047		1,178,228
EQUITY
Share capital		68,418		68,418
Capital reserves		278,240		278,774
Treasury shares		-48,610		-47,606
Other components of equity		20,415		19,816
Retained earnings		233,808		239,485
		552,271		558,887
Non-controlling interests		2,496		2,490
Total equity		554,767		561,377
Total liabilities and equity	Y	1,741,814	Y	1,739,605

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LIXIL Corporation (TSE Code 5938) Q1 Results for the FY Ending March 2022

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

			(Unit: millions of yen)
	Three months ended	Three months ended
		June 30, 2020		June 30, 2021
Revenue	Y	310,458	Y	345,761
Cost of sales		-213,771		-220,745
		96,687		125,016
Selling, general and administrative expenses		-99,320		-101,940
Other income		792		3,143
Other expenses		-1,238		-2,286
OPERATING PROFIT (LOSS)		-3,079		23,933
Finance income		5,910		2,044
Finance costs		-5,652		-2,329
Share of loss of associates and joint ventures accounted		-94		-722
for using the equity method
PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS		-2,915		22,926
Income tax expenses		-1,063		-6,057
PROFIT (LOSS) FOR THE QUARTER FROM CONTINUING OPERATIONS		-3,978		16,869
Discontinued operations
PROFIT (LOSS) FOR THE QUARTER FROM DISCONTINUED OPERATIONS		1,532		-26
Profit (loss) for the quarter		-2,446		16,843
Profit (loss) for the year attributable to:
Owners of the parent
Continuing operations		-3,829		16,851
Discontinued operations		110		-26
Total		-3,719		16,825
Non-controlling interests
Continuing operations		-149		18
Discontinued operations		1,422		－
		1,273		18
Profit (loss) for the quarter		-2,446		16,843

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