LIXIL-GROUP-CORPORATION
21.8.2017 05:45:12 CEST | Business Wire | Press release
LIXIL Group Corporation (LIXIL Group) (TOKYO:5938), a global leader in the housing and building industry, today announced that it has decided to sell 100% of the shares of Permasteelisa S.p.A (Permasteelisa) held by its major subsidiary LIXIL Corporation to Grandland Holdings Group Limited (Grandland), a leading Chinese architectural design and construction company. The transaction is subject to customary closing conditions and regulatory approvals, including in China, the United States and Russia.
Under the terms of the agreement, the base sale price for Permasteelisa is EURO 467 million. As a result of this transaction and the deconsolidation of Permasteelisa from LIXIL Group, LIXIL Group’s revenue for the full fiscal year ending March 2018 is expected to decrease by approximately 170.0 billion yen from the amount announced on May 8, 2017 (by approximately 9.2% of the previously forecasted amount). Revenue for the first half of the year is also expected to decrease by approximately 80.0 billion yen (approximately 9.0%).
Permasteelisa is a leading global contractor in the engineering, project management, manufacturing, and installation of curtain walls and interior systems. The business works with the world’s most prominent architects to turn their visions into reality, and has a history of shaping the most iconic skylines and cityscapes around the world with past projects including the Shard in London, Apple’s new HQ campus in Cupertino, the Sydney Opera House, and the International Commerce Centre in Hong Kong.
“We are pleased to have reached this agreement today. We believe Grandland will be a strong complementary fit for Permasteelisa and an ideal partner to invest in and grow Permasteelisa’s business in the future, especially in the fast-growing Chinese market,” said LIXIL Group President and CEO, Kinya Seto. “LIXIL has learned a great deal about the curtain wall and commercial interiors business from its ownership of Permasteelisa and we look forward to applying these lessons to improve our operations. Due to our complementary areas of business, LIXIL is also open to exploring potential future collaboration with Grandland and Permasteelisa.”
LIXIL is continually seeking to refine its business portfolio to ensure it is able to optimize resources and deploy capital for sustained growth. This transaction would improve LIXIL’s balance sheet and financial strength, by generating cash and reducing debt, but also via an accelerated cash conversion cycle and improved working capital efficiency. This would enable the company to make more proactive investments in its business in the future. The transaction is also in line with LIXIL’s ongoing efforts to simplify the business structure, enabling further synergies and efficiencies through enhanced integration.
Permasteelisa will become part of a fast-growing business closely aligned to its own operations. Grandland is focused specifically on architectural decoration activities, including curtain walls, urban design, mechatronics, and layouts.
Riccardo Mollo, Permasteelisa CEO, who will remain in the position following the transaction, said, “Combining Permasteelisa’s position as a premium leader in the market and scale across EMEA, North and South America, and Asia Pacific, along with Grandland’s industrial integration capabilities and strength in China, will create a truly global leader in the curtain wall segment. While Permasteelisa will maintain its operating independence globally, the opportunities for operating synergies with Grandland are tremendous.”
About LIXIL Corporation
LIXIL is a global leader in the housing and building industry. Our unique portfolio spans everything from technologies that revolutionize how we interact with water in our daily lives, to a full lineup of products and services for houses and major architectural projects. Delivering core strengths in water, kitchen, housing, and building technologies, our brands including LIXIL, INAX, GROHE, American Standard, and Permasteelisa are leaders in the industries and regions in which they operate. LIXIL operates in more than 150 countries and employs more than 70,000 people, bringing together function, quality, and design to make people’s lives better, and more delightful – wherever they are.
Learn more at www.lixil.com , facebook.com/lixilgroup and www.linkedin.com/company/lixil-group .
About LIXIL Group
LIXIL Group Corporation (TOKYO:5938) is the listed holding company containing LIXIL Corporation, LIXIL VIVA CORPORATION and LIXIL Housing Research Institute, Ltd. The Group, which is led by President and CEO Kinya Seto, is involved in a broad spectrum of housing-related businesses, ranging from the manufacture and sales of building materials and housing equipment to the operation of home centers and a network of homebuilding franchises, and comprehensive real estate service. LIXIL Group Corporation posted ¥1.79 trillion in consolidated sales in FYE March 2017.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170820005033/en/
Contact:
LIXIL Corporation
John Short / Masako Takada, +81-3-6268-8801
Public
Affairs Division
pr_global@lixil.com
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
European Commission Approves DAYBU® (trofinetide) as the First and Only Treatment for Neurobehavioral Symptoms of Rett Syndrome in the European Union24.8.2026 09:01:00 CEST | Press release
Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) today announced that the European Commission (EC) has granted marketing authorization for DAYBU (trofinetide) for the treatment of neurobehavioral symptoms of Rett syndrome in adults and pediatric patients aged five years and older, making it the first and only treatment approved for Rett syndrome in the European Union (EU). “The approval of DAYBU marks a significant milestone for the Rett syndrome community in the EU and advances our mission to bring this innovative treatment to patients and families who have long faced a profound unmet medical need,” said Catherine Owen Adams, Acadia’s Chief Executive Officer. “For people living with Rett syndrome, a devastating rare neurodevelopmental disorder, there have been no approved treatment options in the EU. We are proud to make DAYBU available and look forward to supporting patients, caregivers, and healthcare providers gain access to treatment." The DAYBU marketing authorization in the EU is prim
ORZEYFUL (oveporexton) Approved in Japan as the First and Only Medicine to Treat the Underlying Cause of Narcolepsy Type 124.8.2026 08:36:00 CEST | Press release
Discovered by Takeda in Japan, ORZEYFUL has the Potential to Redefine Care Beyond Individual Symptom Management for Adults Living with Narcolepsy Type 1 (NT1) Landmark Phase 3 Studies Demonstrated Significant and Meaningful Improvements Across the Full Range of NT1 Symptoms Evaluated in Clinical Trials Compared to Placebo Milestone Marks Third Major Regulatory Approval Secured for ORZEYFUL Around the World Takeda (TOKYO:4502/NYSE:TAK) announced that the Japanese Ministry of Health, Labour and Welfare (MHLW) approved the use of ORZEYFUL (oveporexton) for the treatment of narcolepsy type 1 (NT1, narcolepsy with cataplexy) in adults. ORZEYFUL is a first-in-class oral orexin receptor 2 (OX2R) agonist and the only medicine indicated in Japan to treat the disease holistically rather than individual symptoms. The discovery of this new class of medicine originated in Takeda's laboratories in Japan. Takeda is proceeding with launch preparations and expects to make ORZEYFUL available as quickly
Fasset Hits $1B Valuation as SBI Group Leads $68M Series C to Scale AI-Powered Stablecoin Neobanking24.8.2026 08:03:00 CEST | Press release
Round led by SBI Group follows $51 million Series B raise in May 2026, marking ascent as one of the fastest-growing neobanking platforms. Capital will expand Own Network and deepen AI across stablecoin settlement, tokenization, and corridor banking. Fasset now processes more than $40 billion in annualized transaction volume, serving 3 million+ wallets and more than 1,000 enterprises across 125 countries. Fasset, the AI-powered stablecoin neobanking platform, today announced it has raised $68 million in Series C funding at a $1 billion valuation. The financing was led by SBI Group and follows Fasset’s $51 million Series B earlier this year, which brought Speedinvest onto the cap table alongside a group of strategic investors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260823503947/en/ Mohammad Raafi Hossain, Co-Founder and CEO, Fasset The new capital will support the expansion of Own Network, Fasset’s regulated financial
Zanders Expands DACH Region with New Office in Vienna, Austria24.8.2026 07:11:00 CEST | Press release
Zanders, the global treasury, risk, and technology consultancy, today announced a significant expansion of its DACH region with the opening of a new office in Vienna. The move builds on Zanders' continued growth across Germany, Austria, and Switzerland, and marks another step in the firm's strategy of deepening its presence in the markets where client demand for specialized treasury, risk, and corporate finance advisory is growing fastest. DACH has been one of Zanders' priority regions for several years, with the firm steadily expanding its team and client base across Germany and Switzerland. Austria represents a natural next step in that growth: in conversations with clients in the market, Zanders has seen growing interest in treasury transformation and financing support, as companies work through interest rate volatility, refinancing needs, and a broader shift toward more digitized, centralized treasury operations. The new Vienna office allows Zanders to be closer to clients' operati
Novotech Strengthens Presence in Japan with Opening of Tokyo Office24.8.2026 01:01:00 CEST | Press release
Novotech, a leading global biotech CRO and full-service clinical research organization, has strengthened its established presence in Japan with the opening of a new office in Tokyo. The investment builds on Novotech’s existing operations and clinical trial activity in Japan and further enhances its ability to support Japanese biopharma companies as they advance programs regionally and across key international markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260823592174/en/ Takeshi Mori, Novotech Country Head, Japan The Tokyo office will serve as a strategic hub for Novotech’s growing operations in Japan, providing enhanced local expertise and strengthening collaboration with clients, partners, research institutions, and innovation ecosystems across the region. Novotech is currently supporting ongoing studies in Japan and provides sponsors with integrated support across early-phase clinical development in Australia, F
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom