LIXIL Reports Revenue and Profit Growth Amid Structural Reforms

Japan: LIXIL Corporation announced revenue and profit growth for the six-month period ending 30 September 2024, supported by new product launches and structural reforms. Revenue increased by 1% year-on-year to JPY 739.8 billion (USD 5.04 billion). In Japan, revenue decreased by 1% due to declining housing starts, despite strong sales of new water products and window renovations. Internationally, revenue grew by 5% to JPY 261.8 billion (USD 1.78 billion), with strong sales in the Middle East and India offsetting declines in Europe, the U.S., and China. Core earnings rose by 19% to JPY 10.5 billion (USD 71.5 million), driven by improved European sales and structural reforms, despite higher administrative costs.

LIXIL Water Technology (LWT) reported a 2.9% increase in domestic revenue to JPY 206.2 billion (USD 1.4 billion), supported by renovation-related sales, which now account for 54% of its revenue. Internationally, LWT achieved a 5.5% revenue increase to JPY 248.9 billion (USD 1.7 billion), with significant gains in Europe and the Middle East. Meanwhile, LIXIL Housing Technology (LHT) experienced a 3.6% revenue decline to JPY 290 billion (USD 1.98 billion), primarily due to weak new housing demand, though renovation-related sales rose by 1.7 percentage points. Net profit attributable to owners of the parent registered a JPY 3.9 billion (USD 26.5 million) loss, attributed to increased financial and tax expenses.

Source: Lixil