May 10 (Bloomberg) -- Toto Ltd., Japan’s biggest toilet maker, may start production in India to meet rising demand from developers of luxury hotels and condominiums.
The company will decide in the next year whether to set up a plant, establish a venture or invest in an existing company in India, President Kunio Harimoto, 59, said in a May 7 interview. Alternatively, the company may add a plant elsewhere in Southeast Asia, where it operates factories in Indonesia, Thailand and Vietnam, to supply the Indian market.
The maker of the Washlet, which combines an electronically controlled bidet with a toilet, aims to increase its proportion of overseas sales to 25 percent by fiscal 2017 from 13 percent last year. The company plans 300 billion yen ($3.26 billion) in capital spending by then. As much as 130 billion yen will be spent overseas, including India and China.
Toto forecasts sales to rise 1.9 percent to 430 billion yen in the year ending March 2011.
India’s economy may grow as much as 8.75 percent in the 12 months through March, Finance Minister Pranab Mukherjee said last month.
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