LIXIL Core Earnings Surge 23% as India and Middle East Drive Strong FY2026 Growth
New Delhi, June 16, 2026: LIXIL Corporation, the pioneering maker of water and housing products, has announced a powerful 22.9% surge in core earnings to ¥38.5 billion for the fiscal year ended March 31, 2026. Despite facing a volley of ongoing global market challenges, the company’s international business demonstrated remarkable resilience. The India, Middle East, and Africa (IMEA) region emerged as a primary engine for this growth, fueled heavily by a sustained, booming demand in India for premium, design-led, and sustainable home solutions, LIXIL Corporation said in a press release.
On a macro level, the global manufacturer reported a consolidated revenue of ¥1,510.7 billion, representing a 0.4% increase year on year, while overall EBITDA climbed by ¥7.1 billion to reach ¥121.6 billion. Alongside the 22.9% rise in core earnings, LIXIL successfully expanded its overall core earnings margin by 0.5 percentage points to 2.5%. Net profit attributable to owners of the parent also saw an upward trajectory to ¥8.1 billion, a victory bolstered by both improved operational earnings and a welcome reduction in corporate income tax expenses.
Shifting the lens to international performance, LIXIL’s overseas revenue climbed to ¥520.9 billion, backed by steady gains across Europe, India, and the Middle East. The IMEA region specifically stood out as one of the top performers in the company’s entire global portfolio, posturing a 15% revenue growth and an incredible 4.3 times year-on-year increase in core earnings. This regional spike was largely driven by the ongoing momentum of the GROHE brand and unwavering market demand across India and the Middle East. In India, GROHE continues to lock down its presence in the premium bathroom solutions segment by catering directly to the rapid premiumisation of the Indian housing market through high-tech, eco-friendly offerings. Meanwhile, the broader LIXIL Water Technology international business held stable at ¥492.5 billion in revenue, while its individual core earnings jumped 31.2% to ¥21.8 billion, lifted by an improved product mix.
Commenting on the results, Kinya Seto, CEO, LIXIL, said, “In the fiscal year ending March 2026, we achieved year-on-year growth in both revenue and profit despite the business environment remaining more challenging than anticipated. Core earnings exceeded our initial forecast. In Japan, the decline in new housing demand was offset by growth in renovation sales, which has been a continuous area of focus, and resulted in higher profits across all segments. In our international business, we achieved a significant improvement in core earnings, particularly in Europe and IMEA. Our strategic initiatives, including structural reforms and our shift to high-value-added products, are progressing and steadily yielding results.”
“Based on the LIXIL Playbook, which outlines our management direction, we have been building a business foundation resilient to external changes. To address geopolitical risks such as the current situation in the Middle East, we are enhancing our agility to respond proactively to changes through the optimization of our supply chain. Furthermore, we have been strategically advancing the development and sales expansion of environmentally friendly and circular products that contribute to improved profitability and mitigate some supply chain risks. These include ‘PremiAL’, a low-carbon aluminum made primarily from scrap aluminum, and ‘revia’, which is made primarily from waste plastic. While the future outlook remains uncertain, we will continue our transformation to strengthen our profitability and achieve sustainable growth,” Seto added.
Peering into the upcoming year, LIXIL has maintained its FYE2026 year-end dividend forecast at ¥45 per share and anticipates its annual dividend for FYE2027 to hold steady at ¥90 per share. For the fiscal year ending March 2027, the company is targeting a revenue forecast of ¥1,600 billion, core earnings of ¥45 billion, and a net profit of ¥12 billion. Management indicates they will maintain a razor-sharp focus on innovation, supply chain resilience, and sustainable growth across key global markets to secure long-term value creation.
