H1 Results for the Fiscal Year | TSE Code: 5938 |
Ending March 31, 2024 (IFRS) | |
(From April 1, 2023 to September 30, 2023) |
LIXIL Corporation
October 31, 2023
Copyright © LIXIL Corporation. All rights reserved.
LIXIL TRANSITIONED TO IFRS FROM FYE2016 | |||
CHANGE IN PROFIT LEVEL STRUCTURE IS AS SHOWN | |||
JGAAPBELOW | IFRS (LIXIL Financial Reporting) | ||
Continuing operations | |||
Net sales | Revenue | ||
Cost of sales | Cost of sales | ||
Gross profit | Gross profit | ||
SG&A | SG&A | ||
Operating profit | Core earnings (CE) | ||
Non-operating income/expenses | Other income/expenses | ||
Ordinary income | Operating profit | ||
Extraordinary income/loss | Finance income/costs | ||
Share of profit (loss) of investments accounted for using equity method | |||
Profit before income taxes | Profit before tax | ||
Profit from continuing operations | |||
Discontinued operations | |||
Profit for discontinued operations | |||
Net profit attributable to | Profit attributable to | ||
Non-controlling interests | Owners of the parent | ||
Owners of the parent | Non-controlling interests |
"Core earnings" in IFRS is equivalent to JGAAP's "Operating profit"
1
KEY HIGHLIGHTS
Summary of results for H1 FYE2024
Revenue was flat while Core Earnings increased year-on-year for H1 (6 months) FYE2024
- Revenue was flat year-on-year. Core earnings increased by JPY2.7 billion to JPY8.8 billion
- For international businesses, the biggest challenge was weak demand in Europe
- Despite the headwind of higher procurement costs due to JPY depreciation for the Japan business, the gross margin gradually improved due to stabilization of variable costs such as raw material prices, component prices, and the transfer of cost increases to selling prices
- Higher fixed costs due to a decline in sales and production volume continues to be a challenge for profitability recovery. Structural reforms are underway to improve management resilience, particularly in international businesses
- Full-yeardividend forecast remains unchanged. Resolved interim dividend of JPY45
2
KEY HIGHLIGHTS
Summary of results for H1 FYE2024 (continued) and business outlook
H1 (6 months) FYE2024 results (overview by region)
-
Japan
Although demand for new construction remained sluggish, the penetration of price optimizations and increased profits due to higher renovation demand for home insulation products contributed significantly to profitability improvement - International
Earnings mainly affected by continued sluggish demand in Europe
H2 (6 months) FYE2024 outlook
-
Japan
Although the recovery of demand for new construction needs to be monitored closely, renovation demand for insulation products continues to be strong, and continuing solid demand is expected from next year onward. We are implementing additional sales measures to raise our market share with the normalization of the competitive environment - International
Despite the continued difficult business environment, mainly in Europe, positive effects of structural reforms underway are expected to be realized from Q4
3
H1 FYE2024 PERFORMANCE HIGHLIGHTS
Core Earnings increased year-on-year
- Revenue: JPY732.2 billion, down JPY0.4 billion year-on-year
- Q2 (3 months) YoY: +1% in Japan and -2% in international markets (-9% excluding foreign exchange impact)
- H1 (6 months) YoY: +1% in Japan and -4% in international markets (-11% excluding foreign exchange impact)
- Core earnings: JPY8.8 billion, up JPY2.7 billion year-on-year
- Q2 (3 months) breakdown: JPY2.8 billion in LWT Japan, JPY0.7 billion in LWT International, JPY10.3 billion in LHT, and -JPY8.7 billion for consolidation adjustment/other factors
- H1 (6 months) breakdown: JPY8.2 billion in LWT Japan, -JPY0.8 billion in LWT International, JPY18.6 billion in LHT, and -JPY17.1 billion for consolidation adjustment/other factors
- Profit for the quarter(1): JPY0.5 billion, down JPY3.2 billion year-on-year
- Profit before tax decreased JPY7.4 billion primarily due to the absence of last year's gain on the transfer of land and other assets, and an increase in finance costs
(1) Profit for the quarter = Profit for the quarter attributable to owners of the parent | 4 |
H1 FYE2024 CONSOLIDATED BUSINESS RESULTS
(1)
(2)
(3)
- Gross profit margin: Increased by 0.7pp YoY
- SG&A expenses: Despite a decrease in logistics cost due to lower sales volume, increased by JPY2.2 billion YoY (Japan JPY4.7 billion decrease, International JPY1.3 billion increase, forex effect JPY5.6 billion increase) mainly due to personnel expenses for the international business, including forex impact. SG&A ratio increased by 0.3pp
- CE margin: Increased by 0.4pp YoY
(1) | Equivalent to "Operating profit" of JGAAP | 5 |
(2) | Profit for the quarter attributable to owners of the parent | |
(3) | EBITDA=Core earnings + Depreciation + Amortization |
H1 FYE2024 BUSINESS RESULTS BY SEGMENT
LWT revenue and profits decreased due to sluggish demand in Europe and the Americas. Profitability for LHT improved due to price optimization and higher sales of renovation products for insulation
H1 impact from segment reclassification(1) | Forex impact(2) | |||
LWT: Revenue JPY0.0 billion, CE -JPY1.6 billion | H1 6 months: Revenue +JPY18.9 billion, CE +JPY1.1 billion | |||
LHT: Revenue -JPY3.6 billion, CE +JPY1.4 billion | Q2 3 months: Revenue +JPY10.1 billion, CE +JPY0.6 billion | |||
Consolidation adj.: Revenue +JPY3.6 billion | ||||
CE +JPY0.2 billion | ||||
(1) | Reflects reclassification of a subsidiary from Q1 FYE2024 to encompass both LWT and LHT (originally classified only to LHT), | 6 | ||
(2) | reflecting its P&L impact. The reporting segments changed to LWT and LHT | |||
Forex translation effect gain(loss) from international subsidiaries |
CONSOLIDATED FINANCIAL POSITION
The total assets increased slightly, due mainly to foreign currency translations. Interest-bearing debt increased due to an increase in working capital and fund-raising for bond redemptions. Equity ratio is 34.3%
JPY billion
Cash and Cash Equivalents
Mar-2023
Sep-2023
Mar-2023
Sep-2023
Interest-bearing debt
Mar-2023Sep-2023
7
CASH FLOW STATUS AND CASH BALANCE
Free Cash Flow (FCF) increased by JPY2.5 billion due to inventory reduction, partially offsetting a decrease primarily in trade payables in response to the "Declaration for Building Partnerships" initiative
(1) | (1) |
(2) | (2) |
(3) | (3) |
(4) | (4) |
(1) | (1) | ||
(1) | Includes discontinued operations | Purchase of intangible assets (Excluding Right of use assets in IFRS16) | 8 |
(2) | "FCF" = Operating CF + Investing CF | (4) "Others" = Effects of exchange rate changes + Net increase (decrease) | |
(3) | CAPEX = Purchase of property, plant and equipment + | in cash and cash equivalents included in assets held for sale |
RESULTS BY BUSINESS SEGMENT
Water Technology Business (LWT) | Housing Technology Business (LHT) |
9
WATER TECHNOLOGY
Revenue and profits decreased for both Japan and international businesses
FYE2024 | YoY vs Results | FYE2024 | |||||||
JPY billion | H1 Results | Increase | % | Forecast | |||||
/decrease | |||||||||
Japan | Revenue | 200.3 | -1.4 | -0.7% | 429.5 | ||||
CE | 8.2 | -2.7 | -24.6% | 25.5 | |||||
CE margin | 4.1% | -1.3pp | - | 5.9% | |||||
International(1) | Revenue | 235.8 | -8.6 | -3.5% | 515.5 | ||||
CE | -0.8 | -10.7 | - | 27.5 | |||||
CE margin | - | - | - | 5.3% | |||||
Water | Revenue | 436.1 | -10.0 | -2.2% | 945.0 | ||||
Technology | CE | 7.3 | -13.3 | -64.5% | 53.0 | ||||
Total | CE margin | 1.7% | -3.0pp | - | 5.6% |
Revenue | Core earnings | |
Japan: Despite price optimizations and strong sales for | | Japan: CE declined YoY as efforts from price |
renovation products that enhance people's lifestyles, | optimization and reduction of fixed cost were | |
revenue decreased due to lower sales in new housing | outweighed by a decrease in gross profit due to lower | |
Int'l(1): Revenue decreased in local currency/JPY terms due | sales for new housing related products | |
Int'l(1): CE declined YoY mainly due to a decrease in | ||
to softening demand in all regions | revenue in Europe and the Americas, partly offset by | |
Int'l revenue distribution ratio: 54.1%, down by 0.7pp YoY | ||
SG&A expense reduction |
(1) YoY vs Results excluding forex impact: Revenue -JPY27.5 billion, -11%. Core earnings -JPY11.8 billion | 10 |
INTERNATIONAL WATER TECHNOLOGY REVENUE BY REGION
By region: Management basis | FYE2024 | YoY | FYE2024 | YoY | |||||||
Total: Statutory basis(1) | H1 Results | local currency | Forecast | local currency | |||||||
JPY billion | basis | basis | |||||||||
Americas | 88.9 | -1% | +8%(2) | ||||||||
EMEA | 84.0 | -17% | +4% | ||||||||
China | 22.7 | -3% | 0% | ||||||||
Asia Pacific | 24.9 | -2% | +10% | ||||||||
Adjustments | 15.3 | - | |||||||||
Water Technology | 235.8 | -4% | 515.5 | +4% | |||||||
International Business Total | |||||||||||
Americas | | EMEA | |||||||||
Revenue declined in local currency terms due to weaker | Revenue declined in local currency/JPY terms due to | ||||||||||
demand. Increased in JPY terms | softening demand | ||||||||||
| Revenue declined in local currency terms as soft demand | | Revenue declined due mainly to softer demand, with | ||||||||
continued. However, improvements in sales in Q2 | lower discretionary spending and lower investments in | ||||||||||
brought a return to profitability in the quarter | housing/construction in most European markets amid a | ||||||||||
Further improvement on profitability by shifting | higher cost of funding and uncertain business outlook | ||||||||||
products and sales channel mix | Asia Pacific | ||||||||||
China | |||||||||||
Revenue declined in local currency terms due to | Revenue declined in local currency terms with mixed | ||||||||||
ongoing challenges in consumer confidence in the real | performance within the region. Increased in JPY terms | ||||||||||
estate sector. Increased in JPY terms | | Core markets showed mixed performance with India | |||||||||
| Signs of demand recovery in some projects | growing, Thailand flat, and Vietnam declining due to | |||||||||
| Q2 sales unchanged from Q1 in local currency terms | continued softening of demand in real estate sector |
(1) | Statutory basis currency: H1 FYE2024 Results 1USD=JPY141.31, 1EUR=JPY153.51 | 11 |
(2) | Management basis currency: FYE2024 1USD=JPY135.0, 1EUR=JPY137.7 | |
Includes impact from M&A in FYE2023 |
HOUSING TECHNOLOGY
Revenue and core earnings increased in Japan due to strong renovation demand for insulation products, backed by government subsidies. Profitability for international business improved after strategy revision
FYE2024 | YoY vs Results | FYE2024 | |||||||
JPY billion | H1 Results | Increase | % | Forecast | |||||
/decrease | |||||||||
Japan | Revenue | 288.4 | +8.4 | +3.0% | 583.0 | ||||
CE | 18.0 | +12.4 | +220.4% | 32.5 | |||||
CE margin | 6.2% | +4.2pp | - | 5.6% | |||||
International | Revenue | 12.5 | -0.8 | -6.1% | 23.5 | ||||
CE | 0.7 | +0.3 | +72.7% | 0.5 | |||||
CE margin | 5.2% | +2.4pp | - | 2.1% | |||||
Housing | Revenue | 300.9 | +7.6 | +2.6% | 606.5 | ||||
Technology | CE | 18.6 | +12.6 | +211.1% | 33.0 | ||||
Total(1) | CE margin | 6.2% | +4.1pp | - | 5.4% |
Revenue | Core earnings | ||||||
■ Revenue increased due to price optimization and high | ■ Profitability recovered due to price optimization in | ||||||
renovation demand to make homes more efficient and | response to increased costs, and strong sales of high- | ||||||
enhance people's lifestyle | performance sashes for renovation led to a significant | ||||||
increase in profits. Despite a continuing weak demand for | |||||||
new housing, aim to improve CE margin by efforts for | |||||||
fixed-cost reductions and sales measures | |||||||
(1) FYE2024 H1 Results (Reference) | LHT excl. building business Revenue | JPY254.4 billion, CE JPY18.2 billion, CE margin 7.2% | 12 | ||||
Building business | Revenue | JPY46.4 billion, CE JPY0.4 billion, CE margin 0.9% |
APPENDIX: FINANCIAL DATA
13
REVENUE BY PRODUCT AND SERVICE
Government initiatives helped push sales of housing sashes higher, with | |||||||||||||
sales of subsidy-eligible window products tripling YoY. Demand is expected | |||||||||||||
to continue from next year onward | JPY billion | in % | |||||||||||
Full-year | H1 | H1 | Quarterly YoY | ||||||||||
Segments | Major products | FYE2023 | FYE2023 | FYE2024 | FYE2023 | FYE2024 | |||||||
Results | Results | Results | YoY | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | ||||
LWT | Sanitary ware** | 106.5 | 51.4 | 49.8 | -3.0% | +0.4 | +6.7 | +2.1 | -2.1 | -2.2 | -3.7 | ||
Bathroom units | 87.4 | 43.0 | 43.6 | +1.6% | -2.4 | +4.0 | +1.3 | +4.1 | +3.0 | +0.1 | |||
Washstand cabinet | 38.7 | 18.6 | 18.4 | -0.7% | +1.8 | -1.0 | -1.7 | -2.7 | +0.7 | -1.9 | |||
units** | |||||||||||||
Kitchens | 100.9 | 49.3 | 46.8 | -5.1% | +0.3 | -2.5 | -2.1 | +0.6 | -5.2 | -5.0 | |||
Tiles | 31.9 | 15.2 | 15.1 | -0.9% | -4.2 | -1.2 | -2.5 | -2.7 | -1.1 | -0.8 | |||
LHT | Housing sashes and | 165.5 | 81.3 | 96.5 | +18.7% | -1.2 | -2.1 | -0.5 | +7.8 | +14.6 | +22.8 | ||
related products | |||||||||||||
Exterior | 101.5 | 51.3 | 47.8 | -6.8% | 0.0 | +3.2 | +1.8 | -4.5 | -6.6 | -7.1 | |||
Wooden interior | 62.7 | 31.3 | 28.7 | -8.3% | +1.4 | +7.8 | +0.7 | -6.7 | -7.4 | -9.2 | |||
furnishing materials | |||||||||||||
LHT Others | 43.7 | 21.6 | 21.9 | +1.1% | +17.0 | +8.1 | +2.8 | +0.7 | +1.8 | +0.4 | |||
Building sashes | 95.7 | 45.3 | 46.4 | +2.5% | +9.3 | +13.3 | +5.0 | +2.0 | +12.1 | -4.9 | |||
Housing and Services | 27.0 | 13.7 | 12.7 | -7.0% | -4.8 | -11.9 | -7.9 | -17.8 | -9.5 | -4.6 | |||
Business | |||||||||||||
International(1) | 523.3 | 257.7 | 248.3 | -3.7% | +11.3 | +13.9 | +9.3 | +13.7 | -5.8 | -1.6 | |||
Others/ | 111.1 | 52.9 | 56.2 | - | |||||||||
consolidation & adj. | |||||||||||||
Total | 1,496.0 | 732.7 | 732.2 | -0.1% | +4.2 | +6.3 | +3.4 | +5.1 | -0.3 | +0.2 | |||
(Reference)**Sales of Faucets included in "Sanitary ware" and "Washstand | cabinet | units" | |||||||||||
LWT | Faucets | 24.7 | 11.5 | 11.9 | +3.2% | -0.3 | +3.4 | -6.1 | +4.1 | +7.3 | -0.7 |
(1) Please refer to p.16 for the revenue of water-related products in international business | 14 |
PROMOTE RENOVATION STRATEGY IN JAPAN
Renovation sales ratio increased by 3.3pp. Renovation sales in LHT increased by 19% YoY, led by window renovation for better heat-insulation
H1 (6 months) | Q2 (3 months) | |||||||||||||||||||||
JPY billion | FYE2023 | FYE2024 | Increase | YoY | FYE2024 | YoY | ||||||||||||||||
Results(1) | Results | /decrease | Results | |||||||||||||||||||
Sales of renovation-related products | 161.2 | 178.2 | +17.0 | +10.5% | 91.5 | +10.8% | ||||||||||||||||
LWT-J | +3% | +2% | ||||||||||||||||||||
LHT | +19% | +21% | ||||||||||||||||||||
Excl. building | +22% | +26% | ||||||||||||||||||||
Building business | 0% | -6% | ||||||||||||||||||||
41% | 44% | +3.3pp | 44% | |||||||||||||||||||
Renovation sales ratio | +3.3pp | |||||||||||||||||||||
Renovation sales ratio by | business | Number of member | homebuilders | |||||||||||||||||||
segment (YoY) | Increase | Stores | Mar | Mar | Sep | |||||||||||||||||
H1 FYE2023 | H1 FYE2024 /decrease | 2022 | 2023 | 2023 | ||||||||||||||||||
LIXIL Reform Shop | ||||||||||||||||||||||
LWT | 49%(1) | 51% | +2.3pp | 536 | 544 | 545 | ||||||||||||||||
(Franchise) | ||||||||||||||||||||||
LIXIL Reform Shop | 11,264 | 11,224 | 11,190 | |||||||||||||||||||
LHT | 35% | 39% | +4.4pp | |||||||||||||||||||
(Independent stores) | ||||||||||||||||||||||
LIXIL PATTO Reform | ||||||||||||||||||||||
Japan | 41% | 44% | +3.3pp | 3,804 | 3,833 | 3,838 | ||||||||||||||||
Total | Service Shop |
(1) Sales of renovation product was restated for comparison on the same basis | 15 |
GROWTH IN INTERNATIONAL WATER TECHNOLOGY BUSINESS
Leveraging our brands, manufacturing assets and advanced technologies, we are accelerating growth by bridging portfolio gaps globally(1)
H1 FYE2024 (6 months) | Q2 FYE2024 (3 months) | |||||||||||
Intl. | Americas | EMEA | China | Asia | Intl. | Americas | EMEA | China | Asia | |||
Total | Pacific | Total | Pacific | |||||||||
Sales distribution ratio | ||||||||||||
Bath faucets and showers | 37% | 11% | 60% | 49% | 40% | 37% | 12% | 60% | 50% | 38% | ||
Toilets | 42% | 52% | 26% | 40% | 57% | 42% | 53% | 25% | 39% | 59% | ||
Kitchen faucets and water | 7% | 4% | 13% | 5% | 2% | 7% | 4% | 13% | 6% | 2% | ||
systems | ||||||||||||
Bathing and showering | 10% | 24% | 0% | 0% | 1% | 9% | 23% | 0% | 1% | 0% | ||
systems | ||||||||||||
All others | 4% | 8% | 1% | 5% | 0% | 4% | 8% | 2% | 5% | 0% | ||
Total | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | ||
Sales growth | ||||||||||||
Bath faucets and showers | -20% | -14% | -26% | -9% | +1% | -21% | -6% | -30% | -4% | +5% | ||
Toilets | +2% | -1% | +10% | +2% | -0% | +7% | +1% | +30% | +7% | +3% | ||
Kitchen faucets and water | -11% | -6% | -13% | -1% | -6% | -8% | +13% | -14% | -9% | +2% | ||
systems | ||||||||||||
Bathing and showering | -12% | -12% | -32% | -4% | -23% | -10% | -11% | +5% | +42% | -14% | ||
systems | ||||||||||||
(1) See also, p.33, 43-44 of our INTEGRATED REPORT 2023, "GROW GLOBAL WATER BUSINESS" in the LIXIL Playbook | 16 | |||||||||||
https://ssl4.eir-parts.net/doc/5938/ir_material_for_fiscal_ym41/137633/00.pdf#page=34 | ||||||||||||
H1 (6 MONTHS) FYE2024 CHANGE IN REVENUE AND CORE EARNINGS
Revenue
JPY billion | YoY | -2% | +3% | ||||
Renovation | +3% | Renovation | +19% | ||||
732.7 | Others | -4% | Others | -5% | 732.2 | ||
Japan | -1% | Japan | +3% | ||||
International | -4% | International | -6% |
-0.4(-0.1%)
earnings
H1 FYE2023 | LWT |
JPY billion | LWT +6.7 |
LHT +14.5 |
LWT -0.5
LHT +2.3
LHT
Material price -9.8 LWT -6.2 LHT -3.6
Cost reduction -5.5 LWT -3.2
LHT -2.3
Consolidation | H1 FYE2024 | |
adjustment/ | ||
other | ||
LWT Intl. -10.7 | ||
Activity costs, logistics | LHT Intl. | +0.3 |
(Reference) | ||
costs, and other costs | GROHE | -9.0 |
LWT +0.5 | ASB | +1.5 |
LHT +1.4 | Others | -2.9 |
Core
6.2
CE
Margin
0.8%
8.8
CE
+2.7 (+43.6%)Margin
1.2%
H1 FYE2023 | Sales in Japan Mix/pricing | Cost | SG&A | International | Consolidation | H1 FYE2024 | ||
business | adjustment/ | |||||||
Japan +9.7(+59%) | Int'l -10.4(-) | others | ||||||
17
Q2 (3 MONTHS) FYE2024 CHANGE IN REVENUE AND CORE EARNINGS
Revenue
JPY billion | YoY | -1% | +2% |
Renovation | +2% | Renovation | +21% | ||
372.4 | Others | -4% | Others | -6% | 373.1 |
Japan | -1% | Japan | +2% | ||
International | -2% | International | -3% |
0 |
+0.7 (+0.2%)
Core earnings
Q2 FYE2023 | LWT |
JPY billion | LWT +3.6 |
LHT +6.5 |
-0.8 | LWT -0.4 |
CE | LHT +0.9 |
Margin |
LHT
Material price -4.3 LWT -2.5 LHT -1.8
Cost reduction -0.4 LWT -1.2
LHT +0.8
+5.9 (-)
Consolidation | Q2 FYE2024 | ||
adjustment/ | |||
other | |||
Activity costs, logistics | LWT Intl. -3.2 | ||
LHT Intl. | +0.2 | ||
costs, and other costs | (Reference) | ||
LWT | -0.1 | GROHE | -4.4 |
LHT | +0.7 | ASB | +2.7 |
Others | -1.3 | ||
5.1 |
CE
Margin
1.4%
Q2 FYE2023 | Sales in Japan Mix/pricing | Cost | SG&A | International | Consolidation | Q2 FYE2024 | |||
business | adjustment/ | ||||||||
Japan +6.5(+106%) | Int'l -3.0(-73%) | others | |||||||
18
H1 FYE2024 OTHER INCOME AND EXPENSES, FINANCE INCOME AND COSTS
H1 FYE2023 | H1 FYE2024 | Increase/ | |||||||
JPY billion | Results | Results | decrease | ||||||
Profit on disposal of assets held for sale | 5.3 | - | -5.3 | | Other expenses include | ||||
Others | 2.7 | 2.5 | -0.1 | asset securitization | |||||
Other income | 7.9 | 2.5 | -5.4 | business transfer(1)-related | |||||
expenses | |||||||||
Loss on sale and disposal of property, plant and | 0.9 | 0.8 | -0.1 | Finance costs increased due | |||||
equipment | to impacts such as interest | ||||||||
Impairment losses | 0.7 | 0.5 | -0.2 | rate hikes | |||||
Loss recognized on the measurement to fair value | - | 1.1 | +1.1 | ||||||
less costs to sell the disposal group held for sale | |||||||||
Others | 2.5 | 2.4 | -0.1 | ||||||
Other expenses | 4.1 | 4.7 | +0.7 | (A) Exchange difference losses are | |||||
paired with gain on valuation of | |||||||||
Interest income | 0.5 | 0.7 | +0.2 | derivatives | |||||
Dividend income | 0.9 | 0.6 | -0.3 | ||||||
H1 | |||||||||
Gains on valuation of derivatives | 0.2 | 0.4 | +0.2 | (A) | |||||
FYE2024 | |||||||||
Gains on exchange differences | 0.7 | - | -0.7 | Gains on valuation | Results | ||||
Others | 0.2 | 0.2 | 0.0 | 0.4 | |||||
of derivatives | |||||||||
Finance income | 2.5 | 1.8 | -0.6 | ||||||
Losses on exchange | -0.6 | ||||||||
Interest expense | 2.4 | 4.8 | +2.4 | differences | |||||
Losses on valuation of derivatives | - | 0.6 | +0.6 | (A) | Net | -0.2 | loss | ||
Others | 0.3 | 0.4 | +0.1 | ||||||
Finance costs | 2.6 | 5.8 | +3.2 |
(1) News release on June 26, 2023 "Transfer of the asset securitization business of LIXIL REALTY, Corp. to Tosei Corporation" | 19 |
https://newsroom.lixil.com/ja/20230626_01(Japanese only) | |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
LIXIL Group Corporation published this content on 31 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 06:41:07 UTC.