LIXIL Corporation

Who owns GROHE?
GROHE is owned by LIXIL Corporation, a Japanese building materials and plumbing company listed on the Tokyo Stock Exchange. LIXIL and the Development Bank of Japan acquired 87.5 percent of GROHE in January 2014 at an implied enterprise value of 3.06 billion euros, and LIXIL later took full indirect control.

Is LIXIL publicly traded?
Yes. LIXIL Corporation trades on the Tokyo Stock Exchange under ticker 5938 and is a Nikkei 225 component. It was formed through a merger of five Japanese building products companies in 2011.

What brands does LIXIL own?
LIXIL's main brands are GROHE, American Standard, INAX, TOSTEM, SATO, and the LIXIL corporate brand for Japanese housing equipment and building materials.

What is LIXIL's revenue?
LIXIL reported revenue of JPY 1,510.7 billion (approximately $10 billion) for the fiscal year ended March 31, 2026, with core earnings of JPY 38.5 billion.

Where is LIXIL headquartered?
LIXIL is headquartered in Chiyoda, Tokyo, Japan. Its major overseas operations run through GROHE in Düsseldorf, Germany, and American Standard in Piscataway, New Jersey.

When was LIXIL founded?
LIXIL was formed in April 2011 through the merger of TOSTEM, INAX, Shin Nikkei, Sunwave, and TOEX. Its oldest predecessor, INAX, dates to 1924.

LIXIL's roots run through five predecessor companies. The oldest is INAX, which began in 1924 as a tile manufacturer founded by Chozaburo Ina and grew into a major producer of sanitary ware in Japan. TOSTEM traces to 1923 and became Japan's leading maker of aluminum windows and sashes. Sunwave built kitchen units, Shin Nikkei produced aluminum building components, and TOEX made exterior and garden products.

All five companies had cooperated for years inside a loose grouping. In April 2011 they merged into JS Group, renamed LIXIL Group Corporation in July 2012. The name combines "living" and "lifestyle," reflecting a focus on the home.

The merger was followed by an international acquisition push. In 2013 LIXIL bought American Standard Brands, the historic US plumbing company, for $542 million including assumed debt. In January 2014, LIXIL and the Development Bank of Japan completed a joint acquisition of 87.5 percent of GROHE Group S.a r.l., the German premium fittings maker, at an implied enterprise value of 3.06 billion euros. LIXIL later took full indirect control of GROHE.

These deals tripled the share of revenue generated outside Japan but brought difficulties. GROHE's Chinese subsidiary Joyou filed for insolvency in 2015 after an accounting scandal, forcing LIXIL to write down the investment and overhaul governance at foreign units. LIXIL also acquired and later divested the curtain wall business Permasteelisa and the South African builder Dawn.

A governance dispute in 2018 saw CEO Kinya Seto replaced, only to return in 2019 after a shareholder vote backed him. In 2020 LIXIL simplified its structure, folding the operating company LIXIL Corporation into the holding entity and renaming the combined company LIXIL Corporation. Through 2025 and 2026 the company focused on margin recovery in its water technology business and growth of the GROHE brand in Europe, India, the Middle East, and China.

LIXIL runs a formal sanitation and hygiene program through SATO, its low-cost toilet and hand hygiene product line, which has been deployed across dozens of developing markets in partnership with UNICEF and NGOs. The program is a core element of the company's social contribution strategy and addresses open defecation in Africa and Asia.

The company reports environmental targets under its Environmental Vision 2050, including commitments to net-zero CO2 emissions from business processes and an SBTi-validated reduction pathway. GROHE has pursued Cradle to Cradle certification on multiple product lines and publishes a regular sustainability report covering carbon reduction in its production network.

LIXIL publishes integrated reports and GRI-referenced disclosures, and it participates in CDP climate and water security reporting. None of these constitute consumer-facing certifications, and no LIXIL brand holds Leaping Bunny, Fair Trade, or B Corp certification.

LIXIL's most serious scandal involved Joyou, the Chinese fittings maker acquired through GROHE, which filed for insolvency in 2015 after disclosures of fabricated accounts and missing cash. The affair produced large write-downs, lawsuits in Germany, and criticism of LIXIL's oversight of foreign acquisitions. LIXIL absorbed the losses and restructured GROHE's China operations.

The 2018 ouster and 2019 reinstatement of CEO Kinya Seto produced a public corporate governance dispute unusual for a large Japanese company. Shareholders ultimately backed Seto, an outcome cited in governance research as a milestone for shareholder rights in Japan.

The company also took impairments on its Permasteelisa curtain wall business before divesting it in 2020, closing a chapter in which overseas M&A had consistently underperformed the domestic business. No major product recalls or regulatory penalties have been reported as of November 2026.