LIXIL : Consolidated Financial Results for the Third Quarter Ended December 31, 2022 (International Financial Reporting Standards)

	Flash Report
LIXIL CORPORATION	January 31, 2023

Consolidated Financial Results for the Third Quarter Ended December 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, Director, Representative Executive Officer, President & CEO	Telephone:	[phone]
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:				February 13, 2023
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 Q3 of FY Ending March, 2023 (April 1 through December 31, 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 Q3	1,123,817	4.6		20,997	-66.0		24,240		-59.6	21,422	-63.3	12,097	-71.1
FYE 2022 Q3	1,074,405	3.8		61,751	36.6		59,953		61.3	58,439	66.2	41,831	99.2
					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 Q3	11,261	-73.0		11,019	-73.4		34,003		-24.6			38.24		38.24
FYE 2022 Q3	41,631	-3.9		41,501	7.3		45,084		-22.2			142.79		135.61
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 Q3		1,905,981		613,643				611,202			32.1
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

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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			86.76

Note: Revision of consolidated operating performance forecast after the recent announcement: No

Note: The average number of shares during For the nine months ended December 31, 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: Yes
   Newly consolidated company: None
   Excluded company: 1 (Company Name) Grohe Luxembourg Four S.A.
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 shares (Common shares)

(i) Outstanding shares including treasury shares	(December 31, 2022)	287,109,659	shares	(FY ended March 31, 2022)	313,319,159	shares
(ii) Treasury shares	(December 31,	2022)	50,349	shares	(FY ended March 31,	2022)	22,580,170	shares
(iii) Average number of shares during nine months (Apr - Dec) (December 31,	2022)	288,165,997	shares	(December 31,	2021)	290,640,736	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.

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LIXIL Corporation (TSE Code 5938) Q3 Results for the FY Ending March 2023

4. Consolidated Financial Statements
(1) Consolidated Statement of Financial Position
			(Unit: millions of yen)
				End of Q3
	As of March 31, 2022	(As of December 31,
				2022)
ASSETS
Current assets:
Cash and cash equivalents	Y	100,404	Y	129,911
Trade and other receivables		280,409		308,336
Inventories		237,927		285,238
Contract assets		19,408		23,569
Income taxes receivable		923		2,415
Other financial assets		23,095		19,492
Other current assets		25,180		23,493
Subtotal		687,346		792,454
Assets held for sale		27,261		26,954
Total current assets		714,607		819,408
Non-current assets:
Property, plant and equipment		373,301		368,048
Right of use assets		54,023		62,673
Goodwill and other intangible assets		471,303		496,388
Investment property		4,045		4,938
Investments accounted for using the equity method		10,699		8,399
Other financial assets		62,361		51,877
Deferred tax assets		83,315		85,233
Other non-current assets		9,228		9,017
Total non-current assets		1,068,275		1,086,573
Total assets	Y	1,782,882	Y	1,905,981

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LIXIL Corporation (TSE Code 5938) Q3 Results for the FY Ending March 2023

			(Unit: millions of yen)
				End of Q3
	As of March 31, 2022	(As of December 31,
				2022)
LIABILITIES AND EQUITY
LIABILITIES
Current liabilities:
Trade and other payables	Y	333,680	Y	339,333
Bonds and borrowings		132,029		280,192
Lease liabilities		17,681		17,731
Contract liabilities		9,377		10,915
Income taxes payable		10,926		9,776
Other financial liabilities		5,638		6,236
Provisions		656		1,717
Other current liabilities		93,014		82,137
Total current liabilities		603,001		748,037
Non-current liabilities:
Bonds and borrowings		337,510		318,174
Lease liabilities		37,483		45,478
Other financial liabilities		26,968		27,991
Net defined benefit liabilities		78,441		69,463
Provisions		8,028		7,279
Deferred tax liabilities		61,875		64,977
Other non-current liabilities		14,608		10,939
Total non-current liabilities		564,913		544,301
Total liabilities		1,167,914		1,292,338
EQUITY
Share capital		68,418		68,418
Capital surplus		278,635		221,810
Treasury shares		-47,542		-109
Other components of equity		44,954		56,136
Retained earnings		267,920		264,947
Equity attributable to owners of the parent		612,385		611,202
Non-controlling interests		2,583		2,441
Total equity		614,968		613,643
Total liabilities and equity	Y	1,782,882	Y	1,905,981

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LIXIL Corporation (TSE Code 5938) Q3 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)
	Nine months ended	Nine months ended
	December 31, 2021	December 31, 2022
Continuing operations
Revenue	Y	1,074,405	Y	1,123,817
Cost of sales		-701,014		-771,363
GROSS PROFIT		373,391		352,454
Selling, general and administrative expenses		-311,640		-331,457
Other income		5,512		8,763
Other expenses		-7,310		-5,520
OPERATING PROFIT		59,953		24,240
Finance income		3,774		2,940
Finance costs		-4,810		-5,596
Share of loss of associates accounted		-478		-162
for using the equity method
PROFIT BEFORE TAX FROM CONTINUING OPERATIONS		58,439		21,422
Income tax expenses		-16,608		-9,325
PROFIT FOR THE QUARTER FROM CONTINUING OPERATIONS		41,831		12,097
Discontinued operations
LOSS FOR THE QUARTER FROM DISCONTINUED OPERATIONS		-200		-836
PROFIT FOR THE QUARTER		41,631		11,261
Profit (loss) for the quarter attributable to:
Owners of the parent
Continuing operations		41,701		11,855
Discontinued operations		-200		-836
Total		41,501		11,019
Non-controlling interests
Continuing operations		130		242
Discontinued operations		－		－
Total		130		242
PROFIT FOR THE QUARTER	Y	41,631	Y	11,261

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