Toto Shares Surge on Plans to Boost Chip Parts Business

Toto Ltd. shares soared as much as 18%, the most on record, in Tokyo after the toilet maker said it plans to ramp up investment in its chip components business due to strong AI demand.

Toto will accelerate spending on research and production capabilities for its electrostatic chucks, used in NAND manufacturing, according to a statement released Thursday. The washlet maker also posted ¥67.4 billion ($429 million) in net sales for its advanced ceramics business for the fiscal year ended March, a 34% increase from the year before.