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TOTO shares plunge in afternoon trading on report of unit bath order suspension
TOTO Ltd. <5332> plunged in afternoon trading. The Nikkei online edition reported shortly after 1 p.m. that it was disclosed on April 13 that the company has suspended orders for modular bathrooms, prompting selling on concerns over the impact on earnings. According to the article, the suspension was forced by a shortage of organic solvents contained in materials used for film bonding and coating, resulting from the blockade of the Strait of Hormuz. TOTO stated that there are no issues with the production of sanitary ware such as toilets.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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