LIXIL : Notification Regarding Partial Amendment to the Articles of Incorporation (Method to hold Shareholders’ Meeting)

[This is an English translation of the original text written in Japanese]

May 21, 2021

LIXIL Corporation Kinya Seto

Representative Executive Officer, President and CEO (First Section of TSE/NSE, code 5938)

(Contact): Kayo Hirano

Senior Vice President, Investor Relations Office

（TEL. [phone]）

Notification Regarding Partial Amendment to the Articles of Incorporation (Method to hold

Shareholders' Meeting)

LIXIL Corporation (the "Company") hereby gives notice that its Board of Directors has today determined to submit a "Partial Amendment to the Articles of Incorporation," which addresses the method of holding Shareholders' Meetings, as an agenda item of the 2021 (79th) Annual Shareholders' Meeting to be held in June, 2021.

1. Reason of the Amendment

As of this day (May 21, 2021), when the Board of Directors of the Company resolved to add this item for resolution to the agenda of the Shareholders' Meeting, the Diet of Japan is debating the Bill to Amend the Act on Strengthening Industrial Competitiveness. If passed, this Bill would enable companies to hold Shareholders' Meetings via the Internet, etc., with shareholders attending online ("Virtual-Only Shareholders' Meetings") instead of at a physical venue ("Real Shareholders' Meetings"). As this would mean the Company has the option of holding Virtual-Only Shareholders' Meetings in the future, we aim to make necessary changes to Article 14 of the Articles of Incorporation in anticipation of the Bill passing the Diet.

The effective date of this amendment is to be the date on which the Company receives confirmation from the Minister of Economy, Trade and Industry and the Minister of Justice that the Bill to Amend the Act on Strengthening Industrial Competitiveness has been passed and the rules that enable Virtual-Only Shareholders' Meetings under this Act have been enacted, and that the requirements for stipulating in the Articles of Incorporation to the effect that there is the option to hold shareholders' meetings without specifying a venue based on the bill have been satisfied; provided, however, that if the confirmation from

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the Minister of Economy, Trade and Industry and the Minister of Justice has been received on the day the Shareholders' Meeting approves this item for resolution, the effective date shall be that date.

The agenda item will be removed from the agenda if the Bill to Amend the Act on Strengthening Industrial Competitiveness has been abolished on the date the agenda item will be placed on the agenda.

If the agenda item is approved and our Articles of Incorporation are amended, the Company will add Virtual-Only Shareholders' Meetings as a method for holding shareholders' meetings, in addition to Real Shareholders' Meetings held at physical venues and hybrid online-offline Shareholders' Meetings in which shareholders can attend a venue or online via the Internet, etc.

The Company, however, will always prioritize the rights of its shareholders and, therefore, when determining the method for holding its Shareholders' Meetings, will carefully consider the circumstances surrounding legal and social requirements, including Covid-19 countermeasures, etc., before the decision is made by the Board of Directors.

2. Details of the Amendments

We would like to amend the Articles of Incorporation as follows.

（Changes are indicated with underline. ）

Current

After Amendment

（Location）

(Shareholders' Meeting without Specifying a

Article 14 The Company shall hold its

Venue)

Shareholders' Meeting at a wards (ku)

Article 14 The Company may hold its

in which the Company's head office is

Shareholders' Meeting without

located or at other wards (ku)

specifying a venue.

adjacent thereto.

Supplementary Provision

(Newly added)

The Company shall amend Article 14 of

its Articles of Incorporation after the Bill

to Amend the Act on Strengthening

Industrial Competitiveness, which

enables Virtual-Only Shareholders'

Meeting under which shareholders

attend via the Internet, etc., has been

passed, and rules that make Virtual-Only

Shareholders' Meetings possible under

this Act have been enacted, effective on

the date which the Company receives

confirmation from the Minister of

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Economy, Trade and Industry and the

Minister of Justice that the option to

hold Shareholders' Meeting without

specifying a venue based on the bill satisfies the requirement to be set out inits articles of incorporation; provided,

however, that if the confirmation from

the Minister of Economy, Trade and Industry and the Minister of Justice has

been received on the day the Shareholders' Meeting approves this

item for resolution, the effective date

shall be that date. This supplementary

provision shall be deleted if such amendment is made or such bill is

abolished.

(Note) The above amendment is subject to the approval at the Annual Shareholders' Meeting of the Company, which will be held in June 2021.

3．Dates
Date of Annual Shareholders Meeting
for the amendment of
the Articles of Incorporation:	June 22, 2021 (plan)
Date of the amendment of the
Articles of Incorporation (effective date):	The date on which the Company receives confirmation from the
	Minister of Economy, Trade and Industry and the Minister of
	Justice that the Bill to Amend the Act on Strengthening
	Industrial Competitiveness has been passed and the rules that
	make Virtual-Only Shareholders' Meetings possible under this
	Act have been enacted, and that the requirements for
	stipulating in the Articles of Incorporation to the effect that
	there is the option to hold shareholders' meetings that do not
	specify a venue based on the bill have been satisfied; provided,
	however, that if the confirmation from the Minister of Economy,
	Trade and Industry and the Minister of Justice has been received
	on the day the Shareholders' Meeting approves this item for
	resolution, the effective date shall be that date.
	End

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