Joyou AG is the number 1 supplier of labelled bathroom fixtures etc. It is part of Grohe Group, one of the biggest bathroom fixture manufactures, which was bought by Japanese company Lixil in autumn 2013.
Joyou, announced that it had started insolvency proceedings after writing off $300m on guarantees given to creditors of a subsidiary, Joyou Hong Kong, a holding company for eight Joyou operating businesses in Fujian province, eastern China.
FT.com: Japanese group Lixil faces losses after unit files for insolvency, 25 May 2015
Joyou: Annual Report, 2010
LIXIL Group Corporation: Short-sellers Report, 16 Nov 2015