LIXIL : Oct 30, 2020ReleaseConsolidated Financial Results for the First Half Ended September 30, 2020(International Financial Reporting Standards) >NEW

	Flash Report
LIXIL GROUP CORPORATION	October 30, 2020

Consolidated Financial Results for the First Half Ended September 30, 2020

(International Financial Reporting Standards)

Company Name:	LIXIL GROUP CORPORATION	Stock Listings:	Tokyo, Nagoya
Code Number:	5938	URL: http://www.lixil.com/en/investor/
Representative:	Kinya Seto, President & CEO	Telephone:	[phone]

Contact:	Kayo Hirano, Senior Manager of Investor Relations Office
Scheduled date of issue of quarterly financial report:	November 13, 2020
Schedule date of payment of interim dividends:	November 27, 2020
Preparation of supplementary materials for quarterly financial results:	Yes
Information meeting for 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 H1 of FY Ending March 2021 (April 1 through September 30, 2020)

(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 2021 H1	660,476		-13.0	15,371	-54.8	11,976		-64.3	10,678	-75.6	6,308	-79.1
FYE 2020 H1	759,487		－	34,017	－	33,565		－	43,678	－	30,166	－
					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 2021 H1	14,640		-41.9	10,869	-53.0	20,459		271.8		37.47		35.75
FYE 2020 H1	25,189		－	23,135	－	5,503		－		79.75		72.31

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

Note: The year-on-year rate of change in revenue, core earnings, operating profit, profit before tax, and profit for the quarter from continuing operations for FYE 2020 H1 have been omitted.

(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 2021 H1		2,133,571	544,024	508,584	23.8
FYE 2020		2,091,529	535,137	502,165	24.0
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 2020	－	35.00	－	35.00	70.00
FYE 2021	－	35.00
FYE 2021			－	35.00	70.00
(forecast)

Note: Revision of dividends forecast during this period: No

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3. Consolidated Forecast for the FY Ending March, 2021 (April 1, 2020 through March 31, 2021)

(% 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 2021	1,350,000		-10.9	40,000	-23.5	7,000	-78.1	3,000	-92.7	2,000	-92.8
			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 2021	23,000		68.2	19,000	51.8		65.49

Note: Revision of consolidated operating performance forecast after the recent announcement: Yes

Note: The reason for the disclosure of the consolidated financial forecast is as stated in the "Announcement of Revision of Consolidated Financial Forecast for the Fiscal Year Ending March 2021" announced on October 30, 2020.

• 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 stocks (Common stocks)

(i) Outstanding stocks including treasury stocks	(September 30, 2020)	313,319,159	shares	(FY ended March 31, 2020)	313,319,159	shares
(ii) Treasury stocks	(September 30, 2020)	23,218,386	shares	(FY ended March 31,	2020)	23,216,159	shares
(iii) Average stocks during the first half	(September 30, 2020)	290,102,188	shares	(September 30,	2019)	290,101,422	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.

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LIXIL Group Corporation (TSE Code 5938) H1 Results for the FY Ending March 2021

4. Consolidated Financial Statements

1. Consolidated Statement of Financial Position

(Unit: millions of yen)

	As of March 31, 2020		End of H1(As of
	September 30, 2020)
ASSETS:
CURRENT ASSETS:
Cash and cash equivalents	Y	95,862	Y	149,957
Trade and other receivables		307,054		279,720
Inventories		227,606		182,560
Contract assets		20,280		18,618
Income tax receivables		1,740		5,023
Other financial assets		15,428		9,880
Other current assets		16,578		17,602
Subtotal		684,548		663,360
Assets held for sale		58,232		377,675
Total current assets		742,780		1,041,035
NON-CURRENT ASSETS:
Property, plant and equipment		496,865		409,387
Right of use assets		215,020		64,343
Goodwill and other intangible assets		434,102		436,995
Investment property		7,779		4,573
Investments accounted for using the equity method		10,704		10,459
Other financial assets		90,047		76,787
Deferred tax assets		88,803		80,278
Other non-current assets		5,429		9,714
Total non-current assets		1,348,749		1,092,536
Total assets	Y	2,091,529	Y	2,133,571

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LIXIL Group Corporation (TSE Code 5938) H1 Results for the FY Ending March 2021

(Unit: millions of yen)

	As of March 31, 2020		End of H1(As of
	September 30, 2020)
LIABILITIES AND EQUITY
LIABILITIES
CURRENT LIABILITIES:
Trade and other payables		336,492		258,309
Bonds and borrowings		232,711		278,080
Lease liabilities		34,666		18,484
Contract liabilities		10,158		10,175
Income taxes payable		6,159		2,606
Other financial liabilities		7,646		6,851
Provisions		1,731		979
Other current liabilities		85,670		78,068
Subtotal		715,233		653,552
Liabilities directly associated with the assets held for sale		91,907		305,944
Total current liabilities		807,140		959,496
NON-CURRENT LIABILITIES:
Bonds and borrowings		363,379		395,153
Lease liabilities		201,795		47,558
Other financial liabilities		31,926		30,265
Net defined benefit liabilities		76,907		85,967
Provisions		12,335		6,554
Deferred tax liabilities		55,200		54,067
Other non-current liabilities		7,710		10,487
Total non-current liabilities		749,252		630,051
Total liabilities		1,556,392		1,589,547
EQUITY
Share capital		68,418		68,418
Capital reserves		278,120		278,153
Treasury shares		-48,870		-48,873
Other components of equity		-12,709		-7,427
Retained earnings		217,206		218,313
Equity attributable to owners of the parent		502,165		508,584
Non-controlling interests		32,972		35,440
Total equity		535,137		544,024
Total liabilities and equity	Y	2,091,529	Y	2,133,571

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