Toto to Shut Two China Plants as Part of Restructuring Plan
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Toto will close two manufacturing subsidiaries in China as part of a restructuring plan due to declining profits from a weak real estate market and price competition. The Beijing and East China units will be liquidated, with production consolidated into two remaining sites. The company aims to focus on Japan-style remodeling services and affordable products for China's middle and upper-middle markets, anticipating extraordinary losses from the restructuring in the fiscal year ending March 2026.
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