THE JAPAN NEWS/ANN – Toto Ltd will build a new factory for faucets in northern Vietnam to meet growing global demand, the company has announced.
Toto will invest about JPY10 billion in the new plant, as awareness of hygiene has been increasing worldwide with the spread of the novel coronavirus. Construction was to start in January, with operations scheduled to begin in March 2024.
The plant will be built by a local affiliate on an about 100,000-square-metre 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. Toto plans to use this factory, which will be its largest overseas production base, to expand its exports to China and North America.
Overseas, more and more wealthy people are particular about the design of their faucets, and demand for automatic faucets is also booming 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 per cent compared to the same period in the previous year.