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## Review of Operations 

## Plumbing Fixtures Business 

## [Situation in Japan] 

## Fiscal Year Results 

The JS Group focused on increasing sales through full model changes for popular sanitary ware, but weak sales of bathroom units and kitchen systems because of sluggish collective housing construction starts dragged down sales to ¥282.8 billion. However, operating income increased to ¥8.4 billion thanks to cost-cutting initiatives and other factors. The acquisition of American Standard will be instrumental to our efforts to expand operations overseas. 

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Note: Estimated share includes Sun Wave 

