Japanese toilet maker Toto’s shares surged 18 per cent to a five-year high on Friday after unveiling plans to boost production of semiconductor components and posting record annual profits.
Its advanced ceramics business has turned Japan’s largest toilet manufacturer into an AI play and caught the attention of activist investor Palliser Capital.
The stock closed at ¥6,425 ($40.86), the highest level since 2021 and bringing the gain this year to more than 46 per cent.
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