Toto (TYO:5332) will shut two manufacturing subsidiaries in mainland China as part of a broader restructuring to address falling profits amid prolonged weakness in the real estate sector and intensifying price competition, according to a Monday filing on the Tokyo Stock Exchange.
The company said its Beijing and East China units will be closed and liquidated, cutting headcount and consolidating production into two remaining sites, including a new factory.
Toto plans to sharpen its focus on Japan-style remodeling services and roll out competitively priced products for China's middle and upper-middle markets.
The toilet manufacturer expects to book extraordinary losses related to the restructuring in the fiscal year ending March 2026.
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