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.
Price (JPY): $3465.00, Change: $+27, Percent Change: +0.79%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.