LIXIL eyes PHL market to meet $12.5B overseas sales 2015 goal 

LIXIL, a Japanese manufacturer of building materials and housing equipment, wants some of its target $12.5 billion in foreign revenues to come from its operations in the Philippines.   "LIXIL plans to expand its sales to $37.5 billion in fiscal year 2015, of which $12.5 billion will come from overseas sales. One of the key measures to achieve this target is business development in Asia," said Toshimasa Iue, chief executive of Lixil Global Co., said in a media briefing Wednesday.   Earlier in the day, Iue and other LIXIL officers met President Benigno Aquino III in Malacañang to inform him of their expansion plans.   With Iue were Felino Bernardo, country manager of American Standard; Ken Ng, CEO of LIXIL Asia and Miho Watanabe. Also at the courtesy call was Presidential sister Ballsy Aquino-Cruz.   "In particular, we place high expectations on product business in the Asean countries. Lixil is looking at these countries as its high-growth area in the medium term," Iue said at the briefing.   American Standard Philippines Ltd. Co. is LIXIL's local unit. LIXIL Global, a listed firm in Japan, is result of the merger in April last year of five manufacturing firms:  Tostem Corp., Inax Corp., Shin Nikkei Co. Ltd., Toyo Exterior Co. Ltd., and Sun Wave Corp.   "Lixil aims for global development focusing on local needs. Based on product technology, design and quality that we have cultivated in Japan, we will provide housing equipment which is needed by the local people," Iue said. — ELR, GMA News