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Japan-Update

Lixil stock retreats despite record earnings

Investors wary of Japanese construction materials maker's growth plans

Lixil is seeing strong overseas demand for its toilets.

TOKYO -- Japanese building materials maker Lixil Group reported Monday record earnings in fiscal 2016 and expects to continue profit growth by improving margins, but the market remains concerned over uncertainty about the company's strategy for growth. 

Lixil logged consolidated core earnings, equivalent to operating profit based on international financial reporting standards, of 88.3 billion yen ($783 million) for fiscal 2016, a 26% increase from the previous year and a new record. Losses from large acquisitions in previous years are now off the books.

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