Toto profits dip despite sales growth, restructures China business

** TOTO Ltd. (TSE:5332) reported a 3.2% increase in net sales to JPY 724.45 billion for the fiscal year ended March 31, 2025, but profit attributable to owners of the parent plummeted 67.3% to JPY 12.17 billion. This was due to a JPY 34 billion impairment loss recorded in the Mainland China business, which faced challenges including a sluggish real estate market and intensified price competition.