Toto

TOTO reported a 1.7% rise in net sales for the first fiscal quarter to ¥168.61 billion, while operating profit fell 1.6% to ¥8.07 billion, missing expectations. The disappointing figures raised doubts about the profitability of TOTO’s semiconductor manufacturing plans and compounded existing valuation concerns after the strong rally. Analyst consensus targets were already below the prior share price before the drop, and technical indicators signalled sell signals; additionally, a weaker Nikkei and a strong yen offered little support. » More on de.investing.com

Toto's advanced ceramics unit, which makes electronic chucks for semiconductor equipment, drove strong revenue and profit growth this fiscal year, offsetting declines in its core housing equipment business. The segment reported a 34% increase in annual revenue and a 42% rise in operating profit, helping pull the company into overall growth. Toto says it will continue to develop both its high-margin advanced ceramics and its traditional housing business to maintain balanced, sustainable growth. » More on cnbc.com

Toto Ltd climbed 18% in Tokyo to 6,425 yen after the company said it expects net profit to increase by 14% for the fiscal year. Sumitomo Corp. also rose sharply after results and the announcement of a share buyback program. The Nikkei rose 0.4% to 59,513.12 points; the yen strengthened slightly against the US dollar and Japanese government bond yields fell. » More on finanzen.net