LIXIL Corporation (TSE:5938) reached a basic agreement to acquire Shower Toilet Business of Aisin Corporation on July 28, 2023. The transaction is subject to determination of the operating structure, the conclusion of a business transfer agreement, and the completion of legal procedures and is expected to close by the end of fiscal year 2024. LIXIL Corporation (TSE:5938) entered into company spilt agreement to acquire Shower Toilet Business of Aisin Corporation for ¥3.4 billion on May 27, 2024.

The consideration consists of ¥2.4 billion in cash and ¥1 billion in earnout related payments. As of fiscal year ended March 2024, Shower Toilet Business reported a revenue of ¥15.6 billion. The transaction is expected to close on September 1, 2024 and is not subject to shareholders meeting.