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TOTO posts slight operating profit dip in Q1 but ordinary and net profits rise; shares drop 10%
TOTO shares fell about 10 percent from the previous day to 6,171 yen on August 3. For the first quarter of the fiscal year ending March 2027, revenue came to 168.6 billion yen, up 1.7 percent year on year, while operating profit edged down 1.6 percent to 8.1 billion yen. Ordinary profit rose 7.3 percent to 9.4 billion yen, and net profit attributable to owners of the parent climbed 9.5 percent to 6.9 billion yen. By segment, the global housing equipment business posted combined operating profit of just 2.2 billion yen, while the ceramics unit in the new domain business, which handles fine ceramics for semiconductor manufacturing equipment, contributed 6.5 billion yen and underpinned overall results. For the full year, the company forecasts revenue of 785 billion yen, operating profit of 60 billion yen, and net profit of 46 billion yen, and plans to raise the annual dividend to 120 yen from 110 yen in the previous fiscal year.