Not the Allbirds effect: Japan’s top bidet maker Toto has been quietly making chip supplies for decades, and the stock market finally noticed
Toto, Japan's leading bidet manufacturer, has been producing semiconductor components for decades, gaining attention in the stock market. The company reported record earnings and plans to invest significantly in expanding its semiconductor ceramics division. Unlike other companies that have pivoted to AI, Toto has a long-standing history in chip production, positioning itself as a key player in the AI chip supply chain.
- ▪Toto's operating profit reached ¥53.8 billion ($338 million) and net sales hit ¥737.4 billion ($4.6 billion), both record highs.
- ▪The company is investing ¥30 billion ($188 million) in capacity expansion and R&D for semiconductor ceramics through fiscal year 2028.
- ▪Toto has been manufacturing chip components for 40 years, distinguishing itself from companies like Allbirds that recently shifted focus.
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Whenever someone visits Japan, they mention the sights, the food, the impeccable transportation. Oftentimes, they mention futuristic toilets: the ubiquity of bidets, their sound effects, and the turbo-powered jets that keep you clean.Recommended Video Now Japan’s largest bidet maker, Toto, is doubling down on AI chips. The announcement followed Allbirds’ pivot to become a chipmaker. But unlike the one-time shoe company’s switch from comfort to compute, Toto didn’t just flush its old business to make chips: it’s been making the same components to power the world’s AI infrastructure for years.
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