LIXIL signs memorandum of understanding with Oakwood to furnish upcoming properties

SINGAPORE,Jan. 28,2019 -- LIXIL,maker of pioneering water and housing products,today has signed a memorandum of understanding (MOU) with Oakwood in Asia Pacific,the premier provider of corporate housing and serviced apartment solutions. This strategic partnership will see Oakwood's future properties outfitted with LIXIL's products from its portfolio of brands,including American Standard,DXV,GROHE and INAX.

Dean Schreiber,Managing Director,Asia Pacific,Oakwood (left) and Bijoy Mohan,CEO of LIXIL Asia Pacific (right),signed the MOU agreement,cementing the partnership between Oakwood and LIXIL for the next 3 years.

During the partnership,LIXIL will be the preferred and recommended partner to furnish Oakwood's properties in the region. In 2019 alone,the leading serviced apartment operator has plans to open 8 new properties across 3 markets in Asia using products from LIXIL Water Technology.Existing properties from Oakwood will also consider LIXIL's products first if they were to refurbish.

This MOU sets precedence for LIXIL to feature the entire product portfolio from LIXIL Water Technology Asia,that will be used to furnish not only hotels,but also various hospitality developments such as serviced apartments,studio apartments,premier residences and suites.

"We are extremely happy to partner with Oakwood. The partnership has commenced when the outlook for the hospitality sector across Asia Pacific region is positive. LIXIL has an extensive portfolio of brands and consumer centric technology aimed at providing best in class experience to its consumers. We hope that this will help set a benchmark within the hospitality industry."said Bijoy Mohan,CEO of LIXIL Asia Pacific,during the signing ceremony.

Dean Schreiber,Oakwood,also added that "This is the first time that we are collaborating with a company like LIXIL. Through the use of its premium product offerings,we hope to instill a sense of consistency for all our properties-- be it in Shanghai or Cambodia,our guests will feel right at home. An exclusive partnership will definitely streamline our operations as we would have a trusted partner to look for to furnish our properties,and the extra time and costs saved would allow us to have more resources to enhance our services and quality for our guests."

Both LIXIL and Oakwood hope to see the industry flourish with more of such partnerships being formed,where brands come together to leverage upon the strengths of each other to drive mutual benefits.

About LIXIL

LIXIL makes pioneering water and housing products that solve everyday,real-life challenges,making better homes a reality for everyone,everywhere. Drawing on our Japanese heritage,we create world-leading technology and innovate to make high quality products that transform homes. But the LIXIL difference is how we do this; through meaningful design,an entrepreneurial spirit,a dedication to improving accessibility for all,and responsible business growth. Our approach comes to life through industry leading brands,including INAX,GROHE,American Standard,and TOSTEM. Over 70,000 colleagues operating in more than 150 countries are proud to make products that touch the lives of more than a billion people every day.

LIXIL Group Corporation (TSE Code: 5938) is the listed holding company for LIXIL's portfolio of businesses.

About Oakwood®

Oakwood®,a wholly owned subsidiary of Mapletree Investments,is the leading global accommodation solutions provider helping businesses and individual travelersbe anywhere they need to be. With an extensive and flexible selection of move-in ready furnished and serviced apartments,Oakwood has enabled thousands of companies to expand their reach to more customers and markets. The award-winning company continues investing in its exclusive and growing portfolio of Oakwood-branded properties throughout the Americas,EMEA (Europe,the Middle East and Africa) and APAC (Asia Pacific) offering travelers a broad range of accommodation options from apartments with luxurious style and full amenities to sensible accommodations with modern essentials. For more information,please visit www.oakwood.com.

Photo - https://photos.prnasia.com/prnh/20190125/2357005-1