Toto Ltd. has announced that it will build a new factory for faucets in northern Vietnam to meet growing global demand. Toto will invest about JPY 10 billion (USD 86.9 million) in the new plant. Construction started in January 2022, with operations scheduled to begin in 2024.
The plant will be built by a local affiliate on an about 100,000-square-meter site that Toto has acquired in Vinh Phuc Province. It is expected to produce up to about 1.2 million sophisticated faucets annually for use in washrooms and bathrooms, and create jobs for 1,000 employees. Toto plans to use this factory, which will be its largest overseas production base, to expand its exports to China and North America.
The demand for automatic faucets is also booming globally amid the pandemic. In its consolidated financial results for the first half of the business year ending September 2021, Toto increased its sales of faucets in China by 78% compared to the same period in the previous year.
(Source: The Japan News)