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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  LIXIL Group Corporation    5938   JP3626800001

LIXIL GROUP CORPORATION

(5938)
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LIXIL : Jan 31, 2020ReleaseConsolidated Financial Results for the Third Quarter Ended December 31, 2019 (International Financial Reporting Standards) > NEW

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01/30/2020 | 11:15pm EDT

Flash Report

LIXIL GROUP CORPORATION

January 31, 2020

Consolidated Financial Results for the Third Quarter Ended December 31, 2019

(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: +81-3-6706-7001

Contact:

Kayo Hirano, Senior Manager of Investor Relations Office

Schedule date of payment of dividends: -

Scheduled date of issue of quarterly financial report: February 13, 2020

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 2020 (April 1 through December 31, 2019)

(1) Consolidated Operating Results

(% indicate changes from the figures of corresponding period of the previous fiscal year)

Profit for the quarter

Revenue

Core earnings

Operating profit

Profit before tax

Profit for the quarter

attributabele to owners

of the parent

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Million yen

%

Million yen

%

FYE 2020 Q3

1,396,495

1.1

51,728

39.3

45,671

19.3

53,236

47.0

32,580

538.1

30,689

-

FYE 2019 Q3

1,381,186

0.8

37,146

-45.8

38,285

-18.9

36,209

-17.2

5,106

-87.4

2,134

-94.5

Total comprehensive

Basic earnings per share

Diluted earnings per

income for the quarter

share

Million yen

%

Yen

Yen

FYE 2020 Q3

32,132

-

105.79

95.99

FYE 2019 Q3

-7,443

-

7.36

7.21

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

(2) Consolidated Financial Position

Equity attributable to owners

Ratio of equity attributable

Total assets

Total equity

to owners of the parent to

of the parent

total assets

Million yen

Million yen

Million yen

%

FYE 2020 Q3

2,205,915

577,883

543,940

24.7

FYE 2019

2,059,544

567,167

533,656

25.9

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 2019

35.00

35.00

70.00

FYE 2020

35.00

FYE 2020

35.00

70.00

(forecast)

Note: Revision of

dividends forecast during this

period: No

3. Consolidated Forecast for the FY Ending March 2020 (April 1, 2019 through March 31, 2020)

(% indicate changes from the figures of corresponding period of the previous fiscal year)

Revenue

Core earnings

Operating profit

Profit before tax

Million yen

%

Million yen

%

Million yen

%

Million yen

%

FYE 2020

1,850,000

0.9

47,000

267.2

38,000

-

44,000

-

Profit for the year

Profit for the year

attributable to owners of

Basic earnings per share

the parent

Million yen

%

Million yen

%

Yen

FYE 2020

17,600

-

15,000

-

51.71

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

- 1 -

  • Notes
  1. Changes in significant subsidiaries, which affected the scope of consolidation during this period: No
    Newly consolidated company: None
    Excluded company: None
  2. Changes in accounting policies and accounting estimate
    1. Changes in accounting policies required by IFRS: Yes
    2. Other changes: None
    3. Changes in accounting estimate: None
  3. Outstanding stocks (Common stocks)

(i) Outstanding stocks including treasury stocks

(December 31, 2019)

313,319,159

shares

(FY ended March 31, 2019)

313,319,159

shares

(ii) Treasury stocks

(December 31, 2019)

23,218,589

shares

(FY ended March 31, 2019)

23,224,165

shares

(iii) Average stocks during nine months (Apr - Dec)

(December 31, 2019)

290,101,481

shares

(December 31, 2018)

289,974,593

shares

* This quarterly 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.

- 2 -

LIXIL Group Corporation (TSE Code 5938) 3Q Results for the FY Ending March 2020

4. Consolidated Financial Statements

  1. Consolidated Statement of Financial Position

(Unit: millions of yen)

As of March 31, 2019

End of Q3

(As of December 31, 2019)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

Y

141,421

Y

145,797

Trade and other receivables

401,651

388,845

Inventories

234,646

244,732

Contract assets

59,019

57,828

Income taxes receivable

4,824

1,477

Other financial assets

12,612

15,764

Other current assets

26,216

22,879

Subtotal

880,389

877,322

Assets held for sale

11,391

-

Total current assets

891,780

877,322

NON-CURRENT ASSETS:

Property, plant and equipment

552,759

510,464

Right of use assets

-

206,901

Goodwill and other intangible assets

457,082

446,617

Investment property

6,750

7,765

Investments accounted for using the equity method

12,204

10,102

Other financial assets

90,233

106,495

Deferred tax assets

38,374

34,358

Other non-current assets

10,362

5,891

Total non-current assets

1,167,764

1,328,593

Total assets

Y

2,059,544

Y

2,205,915

- 3 -

LIXIL Group Corporation (TSE Code 5938) 3Q Results for the FY Ending March 2020

(Unit: millions of yen)

As of March 31, 2019

End of Q3

(As of December 31, 2019)

LIABILITIES AND EQUITY

LIABILITIES:

CURRENT LIABILITIES

Trade and other payables

Y

392,357

Y

377,767

Bonds and borrowings

367,974

273,827

Lease liabilities

-

36,198

Contract liabilities

60,761

53,333

Income taxes payable

8,609

13,282

Other financial liabilities

7,247

5,767

Provisions

7,966

6,583

Other current liabilities

88,700

82,091

Subtotal

933,614

848,848

Liabilities directly associated with the assets held for sale

5,038

-

Total current liabilities

938,652

848,848

NON-CURRENT LIABILITIES

Bonds and borrowings

357,984

388,849

Lease liabilities

-

191,079

Other financial liabilities

29,323

31,096

Net defined benefit liabilities

85,853

88,984

Provisions

11,638

13,992

Deferred tax liabilities

60,572

56,937

Other non-current liabilities

8,355

8,247

Total non-current liabilities

553,725

779,184

Total liabilities

1,492,377

1,628,032

EQUITY

Share capital

68,418

68,418

Capital surplus

277,584

277,810

Treasury shares

-48,899

-48,876

Other components of equity

14,458

16,068

Retained earnings

222,095

230,520

Equity attributable to owners of the parent

533,656

543,940

Non-controlling interests

33,511

33,943

Total equity

567,167

577,883

Total liabilities and equity

Y

2,059,544

Y

2,205,915

- 4 -

LIXIL Group Corporation (TSE Code 5938) 3Q Results for the FY Ending March 2020

  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, 2018

December 31, 2019

Revenue

Y

1,381,186

Y

1,396,495

Cost of sales

-966,034

-960,839

GROSS PROFIT

415,152

435,656

Selling, general and administrative expenses

-378,006

-383,928

Other income

11,563

11,793

Other expenses

-10,424

-17,850

OPERATING PROFIT

38,285

45,671

Finance income

5,131

2,767

Finance costs

-7,063

-6,164

Share of profit (loss) of associates and joint ventures

-144

-15

accounted for using the equity method

Profit from disposal of share of associates

-

10,977

PROFIT BEFORE TAX

36,209

53,236

Income tax expenses

-31,103

-20,656

PROFIT FOR THE QUARTER

5,106

32,580

Profit for the quarter attributable to:

Owners of the parent

2,134

30,689

Non-controlling interests

2,972

1,891

PROFIT FOR THE QUARTER

5,106

32,580

Earnings per share

Basic (yen per share)

7.36

105.79

Diluted (yen per share)

7.21

95.99

- 5 -

LIXIL Group Corporation (TSE Code 5938) 3Q Results for the FY Ending March 2020

Consolidated Statement of Comprehensive Income

(Unit: millions of yen)

Nine months ended

Nine months ended

December 31, 2018

December 31, 2019

PROFIT FOR THE QUARTER

Y

5,106

Y

32,580

OTHER COMPREHENSIVE INCOME

Items that will not be reclassified subsequently to profit or loss

Net gain (loss) on revaluation of financial assets measured through other

-7,208

3,945

comprehensive income

Remeasurements of defined benefit pension plans

-1,812

-1,805

Total items that will not be reclassified subsequently to profit or loss

-9,020

2,140

Items that may be reclassified subsequently to profit or loss

Exchange differences on translation of foreign operations

-1,050

-3,192

Net fair value gain (loss) on hedging instruments entered into for

-2,441

615

cash flow hedges

Share of other comprehensive income of associates and joint

-38

-11

ventures accounted for using the equity method

Total items that may be reclassified subsequently to profit or loss

-3,529

-2,588

Other comprehensive income, net of tax

-12,549

-448

TOTAL COMPREHENSIVE INCOME FOR THE QUARTER

-7,443

32,132

Total comprehensive income for the quarter attributable to:

Owners of the parent

-10,342

30,333

Non-controlling interests

2,899

1,799

TOTAL COMPREHENSIVE INCOME FOR THE QUARTER

Y

-7,443

Y

32,132

- 6 -

LIXIL Group Corporation (TSE Code 5938) 3Q Results for the FY Ending March 2020

(3) Consolidated Statement of Changes in Equity

(Unit: millions of yen)

Equity attributable to owners of the parent

Other components of equity

Net gain (loss)

Net fair value

on revaluation

Remeasure-

Exchange

Share

Treasury

gain (loss) on

of financial

ments of

differences on

Capital surplus

assets

capital

shares

available-for-

defined

translation of

measured

sale financial

benefit

foreign

through other

assets

pension plans

operations

comprehen-

sive income

BALANCE AS OF APRIL 1, 2018

68,121

277,753

-48,984

22,521

-

-

-7,183

Cumulative effects of changes in accounting

-

-

-

-22,521

17,891

-

-

policies

RESTATED BALANCE AS OF APRIL 1, 2018

68,121

277,753

-48,984

-

17,891

-

-7,183

Profit for the quarter

-

-

-

-

-

-

-

Other comprehensive income

-

-

-

-

-7,180

-1,812

-1,082

Total comprehensive income for the quarter

-

-

-

-

-7,180

-1,812

-1,082

Purchase of treasury shares

-

-

-12

-

-

-

-

Disposal of treasury shares

-

-0

0

-

-

-

-

Share-based payment transactions

297

-37

84

-

-

-

-

Dividends

-

-

-

-

-

-

-

Reclassification to a non-current asset or

-

-

-

-

-80

-

-0

disposal group classified as held for sale

Reclassification from a non-current asset or

-

-

-

-

-

-

5,269

disposal group classified as held for sale

Changes in parent's ownership interests

-

-155

-

-

-

-

-

in subsidiaries without loss of control

Changes associated with obtaining control

-

-

-

-

-

-

-

of subsidiaries

Transfers from other components of equity

-

-

-

-

366

1,812

-

to retained earnings

Total transactions with owners

297

-192

72

-

286

1,812

5,269

BALANCE AS OF DECEMBER 31, 2018

68,418

277,561

-48,912

-

10,997

-

-2,996

BALANCE AS OF APRIL 1, 2019

68,418

277,584

-48,899

-

12,112

-

-2,659

Cumulative effects of changes in accounting

-

-

-

-

-

-

-

policies

RESTATED BALANCE AS OF APRIL 1, 2019

68,418

277,584

-48,899

-

12,112

-

-2,659

Profit for the quarter

-

-

-

-

-

-

-

Other comprehensive income

-

-

-

-

3,961

-1,805

-3,108

Total comprehensive income for the quarter

-

-

-

-

3,961

-1,805

-3,108

Purchase of treasury shares

-

-

-10

-

-

-

-

Disposal of treasury shares

-

-0

0

-

-

-

-

Share-based payment transactions

-

215

33

-

-

-

-

Dividends

-

-

-

-

-

-

-

Reclassification to a non-current asset or

-

-

-

-

273

-

-

disposal group classified as held for sale

Changes in parent's ownership interests

-

11

-

-

-

-

-

in subsidiaries without loss of control

Transfers from other components of equity

-

-

-

-

297

1,805

-

to retained earnings

Total transactions with owners

-

226

23

-

570

1,805

-

BALANCE AS OF DECEMBER 31, 2019

68,418

277,810

-48,876

-

16,643

-

-5,767

- 7 -

LIXIL Group Corporation (TSE Code 5938) 3Q Results for the FY Ending March 2020

(Unit: millions of yen)

Equity attributable to owners of the parent

Other components of equity

Accumulated

Net fair value

other

gain (loss) on

comprehensive

Retained

Non-

Total

hedging

income relating

controlling

earnings

Total

equity

instruments

to non-current

Other

Total

interests

(losses)

entered into

assets or

for cash flow

disposal group

hedges

classified as

held for sale

BALANCE AS OF APRIL 1, 2018

345

6,460

5,067

27,210

292,797

616,897

32,676

649,573

Cumulative effects of changes in accounting

-

-

-

-4,630

5,580

950

-118

832

policies

RESTATED BALANCE AS OF APRIL 1, 2018

345

6,460

5,067

22,580

298,377

617,847

32,558

650,405

Profit for the quarter

-

-

-

-

2,134

2,134

2,972

5,106

Other comprehensive income

-1,101

-1,263

-38

-12,476

-

-12,476

-73

-12,549

Total comprehensive income for the quarter

-1,101

-1,263

-38

-12,476

2,134

-10,342

2,899

-7,443

Purchase of treasury shares

-

-

-

-

-

-12

-

-12

Disposal of treasury shares

-

-

-

-

-

0

-

0

Share-based payment transactions

-

-

-143

-143

160

361

-

361

Dividends

-

-

-

-

-20,296

-20,296

-955

-21,251

Reclassification to a non-current asset or

-

80

-

-

-

-

-

-

disposal group classified as held for sale

Reclassification from a non-current asset or

-28

-5,241

-

-

-

-

-

-

disposal group classified as held for sale

Changes in parent's ownership interests

-

-

-

-

-

-155

-1,075

-1,230

in subsidiaries without loss of control

Changes associated with obtaining control

-

-

-

-

-

-

218

218

of subsidiaries

Transfers from other components of equity

-

-

-

2,178

-2,178

-

-

-

to retained earnings

Total transactions with owners

-28

-5,161

-143

2,035

-22,314

-20,102

-1,812

-21,914

BALANCE AS OF DECEMBER 31, 2018

-784

36

4,886

12,139

278,197

587,403

33,645

621,048

BALANCE AS OF APRIL 1, 2019

234

22

4,749

14,458

222,095

533,656

33,511

567,167

Cumulative effects of changes in accounting

-

-

-

-

58

58

103

161

policies

RESTATED BALANCE AS OF APRIL 1, 2019

234

22

4,749

14,458

222,153

533,714

33,614

567,328

Profit for the quarter

-

-

-

-

30,689

30,689

1,891

32,580

Other comprehensive income

606

1

-11

-356

-

-356

-92

-448

Total comprehensive income for the quarter

606

1

-11

-356

30,689

30,333

1,799

32,132

Purchase of treasury shares

-

-

-

-

-

-10

-

-10

Disposal of treasury shares

-

-

-

-

-

0

-

0

Share-based payment transactions

-

-

-386

-386

337

199

-

199

Dividends

-

-

-

-

-20,307

-20,307

-1,539

-21,846

Reclassification to a non-current asset or

-

-273

-

-

-

-

-

-

disposal group classified as held for sale

Changes in parent's ownership interests

-

-

-

-

-

11

69

80

in subsidiaries without loss of control

Transfers from other components of equity

-

250

-

2,352

-2,352

-

-

-

to retained earnings

Total transactions with owners

-

-23

-386

1,966

-22,322

-20,107

-1,470

-21,577

BALANCE AS OF DECEMBER 31, 2019

840

-

4,352

16,068

230,520

543,940

33,943

577,883

- 8 -

LIXIL Group Corporation (TSE Code 5938) 3Q Results for the FY Ending March 2020

(4) Consolidated Statement of Cash Flows

(Unit: millions of yen)

Nine months ended

Nine months ended

December 31, 2018

December 31, 2019

OPERATING ACTIVITIES:

Profit before tax

Y

36,209

Y

53,236

Depreciation and amortization

50,990

80,047

Impairment losses

1,453

6,790

Profit recognized on the remeasurement of the disposal group held for sale

-2,040

-

Interest and dividend income

-2,471

-2,611

Interest expense

3,971

4,736

Share of loss (profit) of associates and joint ventures accounted for

144

15

using the equity method

Profit from disposal of share of associates

-

-10,977

Loss (gain) on disposal of property, plant and equipment

1,563

141

Decrease (increase) in trade and other receivables

-9,894

12,252

Decrease (increase) in inventories

-21,494

-10,667

Increase (decrease) in trade and other payables

1,682

-11,747

Increase (decrease) in net defined benefit liabilities

3,975

4,014

Other

-10,680

-8,971

Subtotal

53,408

116,258

Interest received

831

1,036

Dividends received

1,543

1,657

Interest paid

-3,698

-4,365

Income taxes paid

-26,109

-13,723

Net cash generated by operating activities

Y

25,975

Y

100,863

- 9 -

LIXIL Group Corporation (TSE Code 5938) 3Q Results for the FY Ending March 2020

(Unit: millions of yen)

Nine months ended

Nine months ended

December 31, 2018

December 31, 2019

INVESTING ACTIVITIES:

Decrease (increase) in time deposits

Y

-507

Y

464

Purchase of property, plant and equipment

-41,933

-38,875

Proceeds from disposal of property, plant and equipment

1,093

3,321

Purchase of intangible assets

-6,358

-8,015

Proceeds from disposal of investment property

1,117

826

Proceeds from sale of subsidiaries

-

12,811

Decrease (increase) in short-term loans receivable

-1,063

-2,057

Payments for long-term loans receivable

-73

-315

Proceeds from collection of long-term loans receivable

100

350

Payments for acquisition of other investments

-175,438

-173,033

Proceeds from sale and redemption of investments

175,623

186,397

Other

-4,842

-2,499

Net cash used in investing activities

Y

-52,281

-20,625

FINANCING ACTIVITIES:

Dividends paid

-20,296

-20,307

Dividends paid to non-controlling interests

-955

-1,540

Increase (decrease) in short-term borrowings and commercial paper

80,736

-72,154

Proceeds from long-term borrowings

52,819

134,659

Repayment of long-term borrowings

-63,831

-59,908

Redemption of bonds

-30,000

-30,000

Lease liabilities paid

-

-27,974

Proceeds from stock issuance to non-controlling interests

218

-

Payments for acquisition of interests in subsidiaries from non-controlling interests

-1,231

-

Other

-2,350

81

Net cash generated by financing activities

Y

15,110

-77,143

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

-11,196

3,095

CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD

138,751

141,421

EFFECTS OF EXCHANGE RATE CHANGES ON THE BALANCE OF

-670

-378

CASH AND CASH EQUIVALENTS HELD IN FOREIGN CURRENCIES

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS INCLUDED IN ASSETS

3,763

1,659

CLASSIFIED HELD FOR SALE

CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD

Y

130,648

145,797

- 10 -

LIXIL Group Corporation (TSE Code 5938) 3Q Results for the FY Ending March 2020

(5) Notes related to Quarterly Financial Statements Notes related to Going Concern Assumptions

Not applicable.

(Notes on Changes in Accounting Policies

The significant accounting policies adopted for the quarterly consolidated financial statements are the same as those for the consolidated financial statements for the year ended March 31, 2019, with the exception of the items described below.

LIXIL Group Corporation (the "Company") and its subsidiaries (the "Group") have adopted following the new accounting standards from the beginning of the consolidated fiscal year beginning on April 1, 2019.

IFRS Standard

Name of standard

Description of new standards and amendments

IFRS 16

Leases

New requirements in accounting for lease contracts

Due to the mandatory adoption of International Financial Reporting Standard 16 "Leases" (issued in January 2016) ("IFRS 16") from the fiscal year beginning on April 1, 2019, the Group has retrospectively applied the standard in accordance with transitional measures. The Group has applied this Standard to its leases retrospectively with the cumulative effect of initially applying this Standard at the date of initial application.

As a result of this adoption, the Group as a lessee does not classify its leases as either operating leases or finance leases. It also recognizes right-of-use assets representing the right to use an underlying asset over the lease term and lease liabilities representing payments for the right to use an underlying asset for the lease term for all leases in the consolidated statement of financial position for the nine-month reporting period ended December 31, 2019. However, the Group does not apply the requirements of IFRS 16 to short-term leases and leases for which the underlying asset is of low value.

By applying IFRS 16, the amount of "Lease assets" included in "Property, plant and equipment" of assets in the consolidated statement of financial position for the year ended March 31, 2019, has been presented as "Right-of-use assets", and the amount of "Lease obligations" included in "Bonds and borrowings" of liabilities in the consolidated statement of financial position for the year ended March 31, 2019, has been presented as "Lease liabilities" in the consolidated statement of financial position for the nine-month reporting period ended December 31, 2019. Cash flows related to leases classified as Operating Leases were represented as "Net cash generated by operating activities" on the Consolidated Statement of Cash Flows for the nine-month reporting period ended December 31, 2018. However, from the nine-month reporting period ended December 31, 2019, the payments of the principal portion of Lease Liabilities, excluding leases that were not included in the assessment of lease liabilities such as short-term leases and leases for which the underlying asset is of low value, are classified to "Net cash generated by financing activities". In addition, payments of interest of the Lease liabilities are also classified to "Net cash generated by operating activities" respectively. These lease liabilities have been measured at the present value of the remaining lease payments discounted using the lessee's incremental borrowing rate at the date of initial application. The weighted-average of the lessee's incremental borrowing rate is 0.8%.

For the leases that the Group as a lessee previously classified as finance leases under IAS 17, the carrying amounts of "Lease assets" and "Lease obligations" based on IAS 17 before the date of the initial application of IFRS 16 (March 31, 2019) are the carrying amounts of "Right-of-use assets" and "Lease liabilities" at the date of the initial application of IFRS 16.

As a result, the impact at the beginning of the nine-month reporting period ended December 31, 2019, comprises a decrease in "Property, plant and equipment", which was 30,381 million, an increase in "Right-of-use assets" and "Investment property", which were 195,037 million and 1,686 million respectively, a decrease in "Bonds and borrowings", which was 36,433 million, and an increase in "Lease liabilities", which was 202,775 million.

The following is a reconciliation of non-cancellable operating lease contracts applying IAS 17 as of March 31, 2019, and lease liabilities recognized in the condensed consolidated statement of financial position at the date of initial application.

(Unit: millions of yen)

Non-cancellable operating lease contracts as of March 31, 2019

Y

115,629

Cancellable operating lease contracts, etc as of March 31, 2019

50,713

Finance lease obligations (current liabilities) as of March 31, 2019 (note)

3,380

Finance lease obligations (non-current liabilities) as of March 31, 2019 (note)

33,053

Total (lease liabilities recognized on April 1, 2019)

Y

202,775

(note) Finance lease obligations are included in "Bonds and borrowings" in Consolidated Statement of Financial Position for the year ended March 31, 2019.

The Group applies the following practical expedients made available under transitional measures for the adoption of IFRS 16. The Group did not reassess whether a contract was or contained a lease at the date of initial application of IFRS 16.

A single discount rate is applied to portfolios of leases with reasonably similar characteristics.

Initial direct costs are excluded from the measurement of right-of-use assets at the date of initial application.

The Group uses hindsight when calculating term of the lease which contains the options to extend or terminate.

- 11 -

LIXIL Group Corporation (TSE Code 5938) 3Q Results for the FY Ending March 2020

(Segment Information)

Information about Revenue, Income (Loss) and Other Items by Business Segment

For the nine months ended December 31, 2018 (April 1 through December 31, 2018)

(Unit: millions of yen)

Reportable Segments

Water

Housing

Building

Distribution &

Housing &

Technology

Technology

Technology

Services

Retail business

business

business

business

business

Revenue

Revenue from external customers

Y

606,734

Y

397,194

Y

202,304

Y

135,971

Y

38,983

Intersegment revenue or transfers

13,718

7,711

93

5

2,035

Total

620,452

404,905

202,397

135,976

41,018

Segment profit (Loss) (Note 1)

46,147

16,048

-8,137

7,632

2,583

Other income

Other expenses

Operating profit

Finance income

Finance costs

Share of profit (Loss) of associates and joint ventures

accounted for using the equity method

Profit from disposal of share of associates

Profit before tax

(Unit: millions of yen)

Total

Reconciliations

Consolidated

( Note 2 )

Revenue

Revenue from external customers

Y

1,381,186

-

Y

1,381,186

Intersegment revenue or transfers

23,562

-23,562

-

Total

1,404,748

-23,562

1,381,186

Segment profit (Loss) (Note 1)

64,273

-27,127

37,146

Other income

11,563

Other expenses

-10,424

Operating profit

38,285

Finance income

5,131

Finance costs

-7,063

Share of profit (Loss) of associates and joint ventures

-144

accounted for using the equity method

Profit from disposal of share of associates

-

Profit before tax

36,209

Notes: 1. Segment profit (Loss) is core earnings which are defined as revenue less cost of sales and selling, general and administrative expenses.

2. Segment profit (Loss) reconciliations are expenses for all group companies that are not allocated to reportable segments. Expenses for all group companies are those mainly associated with the administrative departments, including human resources, general affairs, accounting and other departments of the Company and its consolidated subsidiary, LIXIL Corporation.

- 12 -

LIXIL Group Corporation (TSE Code 5938) 3Q Results for the FY Ending March 2020

For the nine months ended December 31, 2019 (April 1 through December 31, 2019)

(Unit: millions of yen)

Reportable Segments

Water

Housing

Building

Distribution &

Housing &

Technology

Technology

Technology

Services

Retail business

business

business

business

business

Revenue

Revenue from external customers

Y

611,004

Y

410,630

Y

193,847

Y

142,206

Y

38,808

Intersegment revenue or transfers

12,596

6,510

71

0

1,792

Total

623,600

417,140

193,918

142,206

40,600

Segment profit (Loss) (Note 1)

52,219

26,603

-6,305

6,937

2,652

Other income

Other expenses

Operating profit

Finance income

Finance costs

Share of profit (Loss) of associates and joint ventures

accounted for using the equity method

Profit from disposal of share of associates

Profit before tax

(Unit: millions of yen)

Total

Reconciliations

Consolidated

( Note 2 )

Revenue

Revenue from external customers

Y

1,396,495

-

Y

1,396,495

Intersegment revenue or transfers

20,969

-20,969

-

Total

1,417,464

-20,969

1,396,495

Segment profit (Loss) (Note 1)

82,106

30,378

51,728

Other income

11,793

Other expenses

-17,850

Operating profit

45,671

Finance income

2,767

Finance costs

-6,164

Share of profit (Loss) of associates and joint ventures

-15

accounted for using the equity method

Profit from disposal of share of associates

10,977

Profit before tax

53,236

Notes: 1. Segment profit (Loss) is core earnings which are defined as revenue less cost of sales and selling, general and administrative expenses.

2. Segment profit (Loss) reconciliations are expenses for all group companies that are not allocated to reportable segments. Expenses for all group companies are those mainly associated with the administrative departments, including human resources, general affairs, accounting and other departments of the Company and its consolidated subsidiary, LIXIL Corporation.

- 13 -

Disclaimer

LIXIL Group Corporation published this content on 31 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2020 04:14:08 UTC

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