LIXIL : Consolidated Financial Results for the First Quarter Ended June 30, 2023 (International Financial Reporting Standards)

	Flash Report
LIXIL CORPORATION	July 28, 2023

Consolidated Financial Results for the First Quarter Ended June 30, 2023

(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:			August 10, 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 Japanese yen are rounded)
1. Consolidated Financial Results for the Q1 of FY Ending March, 2024 (April 1 through June 30, 2023)
(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 2024 Q1	359,157	-0.3	3,744	-46.3	2,425	-79.9	378	-96.9	149	-97.8
FYE 2023 Q1	360,291	4.2	6,977	-69.8	12,067	-49.6	12,031	-47.5	6,739	-60.1
				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 2024 Q1	81	-98.6	377	-93.4	35,087	-12.0		1.31		1.31
FYE 2023 Q1	5,901	-65.0	5,734	-65.9	39,888	135.9		19.79		19.79

Note: Core earnings is calculated by deducting the cost of sales and selling, general and administrative expenses (SG&A) 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 2024 Q1	1,914,866	649,907	647,630	33.8
FYE 2023	1,853,534	627,720	625,433	33.7
2. Cash Dividends
			Dividends per share
	End of Q1	End of Q2	End of Q3	End of period	For the year
FYE 2023	－	45.00	－	45.00	90.00
FYE 2024	－
FYE 2024		45.00	－	45.00	90.00
(forecast)

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

3. Consolidated Forecast for the FY Ending March, 2024 (April 1, 2023 through March 31, 2024)

(% 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 2024	1,530,000	2.3	40,000	55.4	28,000	12.4	21,000	6.3	11,100	-34.3

		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 2024	11,100	-30.7	11,000	-31.2	38.32

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 shares (Common shares)

(i) Outstanding shares including treasury shares	(June 30, 2023)	287,211,790	shares	(FY ended March 31, 2023)
(ii) Treasury shares	(June 30, 2023)	53,878	shares	(FY ended March 31,	2023)
(iii) Average number of shares during three months (Apr - Jun)	(June 30, 2023)	287,107,957	shares	(June 30,	2022)

287,109,659 shares

51,992 shares

289,793,042 shares

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

*Appropriate use of financial 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.

(How to access supplementary financial results material)

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

LIXIL Corporation (TSE Code 5938) Q1 Results for the FY Ending March 2024

Table of Contents

1. Consolidated Financial Statements ….................................................................................................................................. 2

1. Consolidated Statement of Financial Position …..................................................................................................... 2

(2)	Consolidated Statements of Profit or Loss and Comprehensive Income	4
	Consolidated Statement of Profit or Loss	4
	Consolidated Statement of Comprehensive Income	5
(3)	Consolidated Statement of Changes in Equity	6
(4)	Consolidated Statement of Cash Flows	8
(5)	Notes related to Financial Statements	10
	(Notes related to Going Concern Assumptions)	10
	(Segment Information)	10

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LIXIL Corporation (TSE Code 5938) Q1 Results for the FY Ending March 2024

1. Consolidated Financial Statements

1. Consolidated Statement of Financial Position

(Unit: Millions of yen)

	As of March 31, 2023		End of Q1
	(As of June 30, 2023)
ASSETS
Current assets:
Cash and cash equivalents	Y	106,677	Y	110,387
Trade and other receivables		291,736		286,236
Inventories		276,645		279,245
Contract assets		19,218		21,728
Income taxes receivable		3,884		4,681
Other financial assets		20,972		23,832
Other current assets		25,401		26,411
Subtotal		744,533		752,520
Assets held for sale		－		10,332
Total current assets		744,533		762,852
Non-current assets:
Property, plant and equipment		376,964		380,620
Right of use assets		63,102		64,321
Goodwill and other intangible assets		507,732		544,742
Investment property		4,898		3,062
Investments accounted for using the equity method		8,633		8,556
Other financial assets		51,844		54,666
Deferred tax assets		93,066		93,058
Other non-current assets		2,762		2,989
Total non-current assets		1,109,001		1,152,014
Total assets	Y	1,853,534	Y	1,914,866

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LIXIL Corporation (TSE Code 5938) Q1 Results for the FY Ending March 2024

(Unit: Millions of yen)

	As of March 31, 2023		End of Q1
	(As of June 30, 2023)
LIABILITIES AND EQUITY
LIABILITIES
Current liabilities:
Trade and other payables	Y	320,388	Y	262,961
Bonds and borrowings		209,028		284,535
Lease liabilities		18,692		19,454
Contract liabilities		8,962		10,644
Income taxes payable		8,698		7,701
Other financial liabilities		4,860		6,654
Provisions		1,894		1,367
Other current liabilities		79,680		93,597
Subtotal		652,202		686,913
Liabilities directly associated with the assets held for sale		－		241
Total current liabilities		652,202		687,154
Non-current liabilities:
Bonds and borrowings		345,478		335,588
Lease liabilities		45,202		45,694
Other financial liabilities		28,274		28,727
Net defined benefit liabilities		70,102		77,536
Provisions		7,281		7,465
Deferred tax liabilities		66,685		71,229
Other non-current liabilities		10,590		11,566
Total non-current liabilities		573,612		577,805
Total liabilities		1,225,814		1,264,959
EQUITY
Share capital		68,418		68,530
Capital surplus		221,812		221,528
Treasury shares		-113		-116
Other components of equity		68,154		104,863
Retained earnings		267,162		252,825
Equity attributable to owners of the parent		625,433		647,630
Non-controlling interests		2,287		2,277
Total equity		627,720		649,907
Total liabilities and equity	Y	1,853,534	Y	1,914,866

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