LIXIL : Consolidated Financial Results for the Fiscal Year Ended March 31, 2022(International Financial Reporting Standards) > (Apr 28, 2022)

Flash Report

LIXIL CORPORATION

Consolidated Financial Results for the Fiscal Year Ended March 31, 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, President & CEO	Telephone: [phone]
Contact:	Kayo Hirano, Senior Vice President, Leader, Investor Relations Office

Scheduled date of ordinary general meeting of shareholders:	June 21, 2022
Scheduled date of issue of Security report:	June 22, 2022
Schedule date of payment of dividends:	June 6, 2022
Preparation of supplementary materials for the financial results for FYE 2022:	Yes
Information meeting for the financial results for FYE 2022 to be held:	Yes (For investment analysts and institutional investors)
(Amounts less than one million yen are rounded)

1. Consolidated Financial Results for the FY Ended March, 2022 (April 1, 2021 through March 31, 2022)

(1) Consolidated Operating Results

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

From Continuing Operations
Revenue Million yen %	Core earnings Million yen %	Operating profit Million yen %	Profit before tax Million yen %	Profit for the yearMillion yen %
FYE 2022 FYE 2021	1,428,578 1,378,255	3.7 -9.0	64,875 57,288	13.2 9.6	69,471 35,842	93.8 12.0	67,262 33,804	99.0 -17.4	50,540 16,368	208.8 -41.0

Including Discontinued Operations
Profit for the yearMillion yen %	Profit for the year attributable to owners of the parent Million yen %	Total comprehensive income for the year Million yen %	Basic earnings per share Yen	Diluted earnings per share Yen
FYE 2022 FYE 2021	48,730 37,587	29.6 174.9	48,603 33,048	47.1 164.0	82,401 74,893	10.0 －	167.21 113.92	158.83 108.44

Including Discontinued Operations	From Continuing Operations
Ratio of equity attributable to owners of the parent %	Total assets Earning Ratio before tax %	Revenue Core earnings ratio %	Revenue Operating profit ratio %
FYE 2022 FYE 2021	8.3 6.3	3.7 3.1	4.5 4.2	4.9 2.6

Reference: Share of profit (loss) of associates and joint ventures accounted for using the equity method

April 28, 2022

FYE 2022 -151 million yen FYE 2021 489 million yen

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

(2) Consolidated Financial Position

Total assets Million yen	Total equity Million yen	Equity attributable to owners of the parent Million yen	Ratio of equity attributable to owners of the parent to total assets %	Equity attributable to owners of the parent per share Yen
FYE 2022 FYE 2021	1,782,882 1,741,814	614,968 554,767	612,385 552,271	34.3 31.7	2,106.30 1,902.89

(3) Consolidated Cash Flows

Cash flows from operating activities Million yen	Cash flows from investing activities Million yen	Cash flows from financing activities Million yen	Cash and cash equivalents at end of period Million yen
FYE 2022 FYE 2021	118,296 151,043	-24,805 -54,151	-108,094 -93,425	100,404 111,061

2. Cash Dividends

Dividends per share	Total amount of cash dividends (annual)	Dividend payout ratio (consolidated)	Ratio of total dividends to net assets (consolidated)
End of Q1	End of Q2	End of Q3	End of period	For the year
FYE 2021 FYE 2022	Yen － －	Yen 35.00 40.00	Yen － －	Yen 40.00 45.00	Yen 75.00 85.00	Million yen 21,763 24,711	% 65.8 50.8	% 4.1 4.2
FYE 2023 (forecast)	－	45.00	－	45.00	90.00	51.3

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 Million yen %	Core earnings Million yen %	Operating profit Million yen %	Profit before tax Million yen %	Profit for the yearMillion yen %
FYE 2023	1,520,000	6.4	81,000	24.9	78,000	12.3	76,000	13.0	51,800	2.5

Including Discontinued Operations
Profit for the yearMillion yen %	Profit for the year attributable to owners of the parent Million yen %	Basic earnings per share Yen
FYE 2023	51,200	5.1	51,000	4.9	175.42

Note: Number of outstanding stocks (excluding treasury stocks) as of March 31, 2022 is used for the average stocks during the fiscal year 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

  • (i) Changes in accounting policies required by IFRS: None

  • (ii) Other changes: None

  • (iii) Changes in accounting estimate: None

• (3) Outstanding stocks (Common stocks)

(i) Outstanding stocks including treasury stocks	(March 31, 2022)	313,319,159	shares	(FY ended March 31, 2021)	313,319,159	shares
(ii) Treasury stocks	(March 31, 2022)	22,580,170	shares	(FY ended March 31, 2021)	23,091,924	shares
(iii) Average stocks during the fiscal year	(March 31, 2022)	290,663,404	shares	(FY ended March 31, 2021)	290,110,459	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.

4. Consolidated Financial Statements

(1) Consolidated Statement of Financial Position

(Unit: millions of yen)

As of March 31, 2021	End of this year (As of March 31, 2022)
ASSETS CURRENT ASSETS: Cash and cash equivalents Trade and other receivables Inventories Contract assets Income taxes receivable Other financial assets Other current assets	Y 111,061 284,369 180,417 17,650 9,776 13,880 19,262	Y 100,404 280,409 237,927 19,408 923 23,095 25,180
Subtotal Assets held for sale	636,415 1,358	687,346 27,261
Total current assets NON-CURRENT ASSETS: Property, plant and equipment Right of use assets Goodwill and other intangible assets Investment property Investments accounted for using the equity method Other financial assets Deferred tax assets Other non-current assets	637,773 402,669 62,417 453,456 4,931 10,871 83,080 77,939 8,678	714,607 373,301 54,023 471,303 4,045 10,699 62,361 83,315 9,228
Total non-current assets	1,104,041	1,068,275
Total assets	Y 1,741,814	Y 1,782,882

(Unit: millions of yen)

As of March 31, 2021	End of this year (As of March 31, 2022)
LIABILITIES AND EQUITY LIABILITIES CURRENT LIABILITIES: Trade and other payables Bonds and borrowings Lease liabilities Contract liabilities Income taxes payable Other financial liabilities Provisions Other current liabilities	Y 299,363 164,204 17,339 9,738 5,220 5,408 1,313 84,343	Y 333,680 132,029 17,681 9,377 10,926 5,638 656 93,014
Total current liabilities NON-CURRENT LIABILITIES: Bonds and borrowings Lease liabilities Other financial liabilities Net defined benefit liabilities Provisions Deferred tax liabilities Other non-current liabilities	586,928 366,923 47,039 25,757 80,939 7,860 56,468 15,133	603,001 337,510 37,483 26,968 78,441 8,028 61,875 14,608
Total non-current liabilities	600,119	564,913
Total liabilities EQUITY Share capital Capital reserves Treasury shares Other components of equity Retained earnings	1,187,047 68,418 278,240 -48,610 20,415 233,808	1,167,914 68,418 278,635 -47,542 44,954 267,920
Equity attributable to owners of the parent Non-controlling interests	552,271 2,496	612,385 2,583
Total equity	554,767	614,968
Total liabilities and equity	Y 1,741,814	Y 1,782,882

(2) Consolidated Statements of Profit or Loss and Comprehensive Income

Consolidated Statement of Profit or Loss

(Unit: millions of yen)

FY ended March 31, 2021	FY ended March 31, 2022
Continuing operations Revenue Cost of sales	Y 1,378,255 -909,035	Y 1,428,578 -941,709
GROSS PROFIT Selling, general and administrative expenses Other income Other expenses	469,220 -411,932 17,550 -38,996	486,869 -421,994 17,040 -12,444
OPERATING PROFIT Finance income Finance costs Share of profit (loss) of associates and joint ventures accounted for using the equity method	35,842 5,708 -8,235 489	69,471 4,093 -6,151 -151
PROFIT BEFORE TAX FROM CONTINUING OPERATIONS Income tax expenses	33,804 -17,436	67,262 -16,722
PROFIT FOR THE YEAR FROM CONTINUING OPERATIONS Discontinued operations PROFIT (LOSS) FOR THE YEAR FROM DISCONTINUED OPERATIONS	16,368 21,219	50,540 -1,810
PROFIT FOR THE YEAR Profit (loss) for the year attributable to: Owners of the parent Continuing operations Discontinued operations	37,587 16,363 16,685	48,730 50,413 -1,810
Total Non-controlling interests Continuing operations Discontinued operations	33,048 5 4,534	48,603 127 －
Total	4,539	127
PROFIT FOR THE YEAR	Y 37,587	Y 48,730