Overview
Glass and Ceramics Products

TOTO LTD.

TOTO is Japan's leading manufacturer of sanitary ware and bathroom equipment, offering a comprehensive range of products including toilets (notably the Washlet® bidet seat and Neorest integrated toilet), unit bathrooms, system kitchens, lavatories, and faucet fittings for both residential and commercial (public restroom) markets. The company operates globally across Japan, the Americas, Asia-Oceania, China, and Europe, with its competitive strength rooted in proprietary hygiene and cleaning technologies such as 'Biккuri-Clean' and Tornado Flush. In addition to its core housing equipment business, TOTO produces advanced fine ceramic components used in semiconductor manufacturing equipment, serving as a high-precision industrial materials supplier.

Market Cap
¥918B
US$5.86B
EV
¥780B
US$4.97B
Stock¥5,585▼-1.83%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
8.8
x
LTM EV/EBIT
14.4
x
LTM PER
22.5
x
LTM PBR
1.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+17.0%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Apr 1, 26Full-year guidance cut; profit outlook worsens
2Aug 3, 26TOTO Q1 (Apr-Jun): Operating profit -2%, Japan housing equipment profit -46%, FY guidance left unchanged disappoints market
MC → EV Bridge
918BUS$5.86BMarket Cap31.2BUS$199M+ Debt101BUS$646M− Cash74.4BUS$474M− Inv. Sec.5.89BUS$37.5M+ NCI780BUS$4.97BEV
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Performance & Balance
Revenue 5Y (¥B)
645US$4.12B'22/3701US$4.47B'23/3702US$4.48B'24/3724US$4.62B'25/3737US$4.70B'26/3
EBITDA 5Y (¥B)
79.1US$505M'22/380.5US$514M'23/376.9US$490M'24/383.5US$533M'25/388.1US$562M'26/3
Net Income 5Y (¥B)
40.1US$256M'22/338.9US$248M'23/337.2US$237M'24/312.2US$77.6M'25/340.3US$257M'26/3
Capital Structure
94%
EquityD/E 0.06xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
145US$924M38.0US$243M'22/3159US$1.01B67.9US$433M'23/3185US$1.18B67.9US$433M'24/3190US$1.21B75.0US$479M'25/3196US$1.25B74.4US$474M'26/3
Shareholders
Top 10 hold 45.9%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
17.13%
2
Custody Bank of Japan, Ltd. (Trust Account)
8.86%
3
Meiji Yasuda Life Insurance Company
6.30%
4
Nippon Life Insurance Company
3.28%
5
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
2.20%
6
TOTO Stock Ownership Association
1.98%
7
STATE STREET BANK AND TRUST COMPANY 505103 (Standing Proxy: Mizuho Bank, Ltd.)
1.74%
8
HSBC-FUND SERVICES CLIENTS A/C 500 HKMPF 10PCT POOL (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
1.55%
9
Nomura Trust and Banking Co., Ltd. (Investment Trust Account)
1.48%
10
JOHN HANCOCK INVESTMENT TRUST- JOHN HANCOCK DISCIPLINED VALUE INTERNATIONAL FUND (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.41%
Management
10 officers
Tokuaki KIYOTA
Representative Director, Chairman and Chairman of the Board of Directors
Apr 1984 Joined the Company Apr 2010 Executive Officer; General Manager, Restroom Business Division Apr 2012 Executive Officer; in charge of Restroom Business Division Jun 2012 Director, Managing Executive Officer; in charge of Restroom Business Division Apr 2014 Director, Senior Managing Executive Officer; in charge of Restroom Business Division and Faucet & Fixture Business Division Apr 2015 Director, Senior Managing Executive Officer; in charge of Systems Products Group and Faucet & Fixture Business Division Apr 2016 Representative Director, Executive Vice President Executive Officer; in charge of Business Divisions oversight, Faucet & Fixture Business and Internal Audit Office; also in charge of V-Plan Marketing Innovation Apr 2017 Representative Director, Executive Vice President Executive Officer; in charge of Business Divisions oversight, Faucet & Fixture Business, Human Resources, and Finance & Accounting; also in charge of V-Plan Management Resources Innovation Apr 2018 Representative Director, Executive Vice President Executive Officer; in charge of Business Divisions, R&D and Technology oversight, Human Resources, Procurement, and Engineering; also in charge of WILL2022 Management Resources Innovation Apr 2020 Representative Director, President and Executive Officer; in charge of Global Business Promotion, Digital Innovation Promotion, Corporate Planning, and Secretariat Apr 2021 Representative Director, President and Executive Officer; in charge of Digital Innovation Promotion, Global Business Promotion, Corporate Planning, Internal Audit Office, and Secretariat Apr 2024 Representative Director, President and Executive Officer; in charge of Digital Innovation Promotion, Corporate Planning, Internal Audit Office, and Secretariat Apr 2025 Representative Director, Chairman and Chairman of the Board of Directors (current)
1961-10-08
Shinya TAMURA
Representative Director, President and Executive Officer; in charge of Residential Products Business oversight, Corporate Planning, Internal Audit Office, and Secretariat
Apr 1991 Joined the Company Apr 2016 Executive Officer; General Manager, Global Business Promotion Division Apr 2018 Executive Officer; General Manager, Americas Residential Products Business Division Apr 2019 Executive Officer; in charge of Americas and Europe Residential Products Business; General Manager, Americas Residential Products Business Division; also in charge of WILL2022 Americas and Europe Residential Products Business Jun 2019 Director, Managing Executive Officer; in charge of Americas and Europe Residential Products Business; also in charge of WILL2022 Americas and Europe Residential Products Business Apr 2021 Director, Managing Executive Officer; in charge of China and Asia Residential Products Business and Americas and Europe Residential Products Business; also in charge of WILL2030 China and Asia Residential Products Business and WILL2030 Americas and Europe Residential Products Business Apr 2022 Director, Managing Executive Officer; in charge of Overseas Residential Products Business; also in charge of WILL2030 Overseas Residential Products Business Apr 2024 Director, Senior Managing Executive Officer; in charge of Global Business Promotion and Overseas Residential Products Business; also in charge of WILL2030 Overseas Residential Products Business Apr 2025 Representative Director, President and Executive Officer; in charge of Design, Digital Innovation Promotion, Corporate Planning, Internal Audit Office, and Secretariat Apr 2026 Representative Director, President and Executive Officer; in charge of Residential Products Business oversight, Corporate Planning, Internal Audit Office, and Secretariat (current)
1967-03-13
Ryosuke HAYASHI
Director, Senior Managing Executive Officer, Chief Technology Officer; in charge of Business Divisions oversight, Customer Quality, Design, Restroom Business, Environmental Building Materials Business, and Ceramics Business; also in charge of WILL2030 New Business Area
Apr 1987 Joined the Company Apr 2011 Executive Officer; General Manager, Washlet Production Division Apr 2014 Executive Officer; Deputy General Manager, Restroom Business Division; General Manager, Washlet Production Division Apr 2015 Executive Officer; in charge of Restroom Business Division and Manufacturing Technology Group; General Manager, Restroom Business Division; also in charge of V-Plan Demand Chain Innovation Jun 2015 Director, Managing Executive Officer; in charge of Restroom Business Division and Manufacturing Technology Group; also in charge of V-Plan Demand Chain Innovation Apr 2016 Director, Managing Executive Officer; in charge of New Business Area Group, Bathroom Business, and Kitchen & Washbasin Business; also in charge of V-Plan New Business Area and V-Plan Demand Chain Innovation Apr 2018 Director, Managing Executive Officer; in charge of New Business Area Group, Bathroom Business, Kitchen & Washbasin Business, and Faucet & Fixture Business; also in charge of WILL2022 New Business Area and WILL2022 Demand Chain Innovation Apr 2020 Director, Senior Managing Executive Officer; in charge of Restroom Business, New Business Area Group, and Manufacturing Technology Group; also in charge of WILL2022 New Business Area Apr 2021 Director, Senior Managing Executive Officer; in charge of Restroom Business, Environmental Building Materials Business, and Ceramics Business; also in charge of WILL2030 New Business Area Apr 2024 Director, Senior Managing Executive Officer; Chief Technology Officer; in charge of Restroom Business, Environmental Building Materials Business, Ceramics Business, and Manufacturing Technology Group; also in charge of WILL2030 New Business Area and WILL2030 Demand Chain Innovation (Manufacturing) Apr 2026 Director, Senior Managing Executive Officer, Chief Technology Officer; in charge of Business Divisions oversight, Customer Quality, Design, Restroom Business, Environmental Building Materials Business, and Ceramics Business; also in charge of WILL2030 New Business Area (current)
1963-09-04
Tomoyuki TAGUCHI
Director, Senior Managing Executive Officer, Chief Financial Officer; in charge of Corporate Divisions oversight, Legal, Human Resources, Finance & Accounting, IT Planning, General Affairs, and Risk Management oversight; also in charge of WILL2030 Management Resources Innovation
Apr 1990 Joined the Company Apr 2016 Executive Officer; General Manager, Finance & Accounting Division Apr 2018 Executive Officer; in charge of Finance & Accounting, Legal, IT Planning, and General Affairs Jun 2018 Director, Managing Executive Officer; in charge of Finance & Accounting, Legal, IT Planning, and General Affairs Apr 2020 Director, Managing Executive Officer; in charge of Human Resources, Finance & Accounting, Legal, IT Planning, General Affairs, Procurement, and Engineering; also in charge of WILL2022 Management Resources Innovation Apr 2021 Director, Managing Executive Officer; in charge of Human Resources, Finance & Accounting, IT Planning, General Affairs, plants (Chigasaki, Shiga/Shiga No. 2, Kokura No. 1), and Tokyo General Affairs; also in charge of WILL2030 Management Resources Innovation Apr 2025 Director, Senior Managing Executive Officer; Chief Financial Officer; in charge of Legal, Human Resources, Finance & Accounting, IT Planning, General Affairs, plants (Chigasaki, Shiga/Shiga No. 2, Kokura No. 1), and Tokyo General Affairs; also in charge of WILL2030 Management Resources Innovation Apr 2026 Director, Senior Managing Executive Officer, Chief Financial Officer; in charge of Corporate Divisions oversight, Legal, Human Resources, Finance & Accounting, IT Planning, General Affairs, and Risk Management oversight; also in charge of WILL2030 Management Resources Innovation (current)
1965-09-24
Junji TSUDA
Outside Director
Mar 1976 Joined Yaskawa Electric Manufacturing Co., Ltd. (now Yaskawa Electric Corporation) Jun 2005 Director; General Manager, Inverter Business Division, Motion Control Business Unit Mar 2006 Director; General Manager, Inverter Business Division Mar 2007 Director; General Manager, Robot Business Division Jun 2009 Managing Director; General Manager, Robot Business Division Mar 2010 Director and President; in charge of Human Resource Development; General Manager, Sales Division Jun 2012 Representative Director and President; in charge of Human Resource Development; General Manager, Sales Division Mar 2013 Representative Director, Chairman and President; in charge of Human Resource Development; General Manager, Marketing Division Sep 2014 Representative Director, Chairman and President; in charge of Human Resource Development; General Manager, Marketing Division; General Manager, Diversity Promotion Office Mar 2016 Representative Director, Chairman Jun 2018 Outside Director of the Company (current) Jun 2021 Outside Director, Kyushu Electric Power Co., Inc. (resigned Jun 26, 2024) Mar 2022 Director, Yaskawa Electric Corporation May 2022 Special Adviser, Yaskawa Electric Corporation (current) Jun 2022 Outside Director, NSK Ltd. (current) Significant Concurrent Positions: Special Adviser, Yaskawa Electric Corporation; Outside Director, NSK Ltd.
1951-03-15
Kenji YOSHIDA
Director
Apr 1984 Joined Oriental Land Co., Ltd. Apr 2015 Executive Officer; General Manager, Accounting Department, Oriental Land Co., Ltd. Apr 2016 Executive Officer; in charge of Accounting Department, Oriental Land Co., Ltd. Apr 2017 Executive Officer; General Manager, Food Division, Oriental Land Co., Ltd. Apr 2019 Managing Executive Officer; General Manager, Food Division, Oriental Land Co., Ltd. Apr 2020 Managing Executive Officer; General Manager, Food Division and Head of Eighth Theme Port Promotion Division, Oriental Land Co., Ltd. Jun 2021 Representative Director, President and COO, Executive Officer, Oriental Land Co., Ltd.; Outside Audit & Supervisory Board Member, Keisei Electric Railway Co., Ltd. (current) Apr 2025 Director, Oriental Land Co., Ltd. Jun 2025 Special Adviser, Oriental Land Co., Ltd. (current)
Masayuki YOSHIOKA
Director, Full-time Audit and Supervisory Committee Member
Apr 1988 Joined the Company Apr 2014 Director, Business Management Division, TOTO (China) Co., Ltd. Apr 2015 Deputy General Manager, Accounting Department Apr 2016 General Manager, Corporate Planning Department, Corporate Planning Division Apr 2018 Executive Officer; General Manager, Finance & Accounting Division; concurrently Representative Director and President, TOTO Finance Co., Ltd. Apr 2024 Attached to Audit and Supervisory Committee Office Jun 2024 Director, Full-time Audit and Supervisory Committee Member (current) Significant Concurrent Positions: Outside Audit & Supervisory Board Member, Izutsuya Co., Ltd.
1965-08-24
Yukari IENAGA
Outside Director, Audit and Supervisory Committee Member
Oct 2003 Registered as attorney (Fukuoka Bar Association); joined Tokunaga, Matsuzaki & Saito Law Office Jun 2015 Outside Director, Mr.Max Holdings Ltd.; Outside Director, OK Food Industry Co., Ltd. (resigned Aug 2022) Jan 2016 Partner Attorney, Tokunaga, Matsuzaki & Saito Law Office (current) May 2022 Outside Director, Audit and Supervisory Committee Member, Mr.Max Holdings Ltd. (current) Jun 2022 Outside Director, Audit and Supervisory Committee Member of the Company (current) Significant Concurrent Positions: Partner Attorney, Tokunaga, Matsuzaki & Saito Law Office; Outside Director, Audit and Supervisory Committee Member, Mr.Max Holdings Ltd.
1974-10-26
Chiho NAGANUMA
Outside Director, Audit and Supervisory Committee Member
Apr 2000 Joined Kokusai Securities Co., Ltd. (now Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.) (left Mar 2002) Apr 2002 Joined Mizuho Securities Co., Ltd. (left Feb 2004) Mar 2004 Joined Goldman Sachs Securities Co., Ltd. (left Mar 2009) Apr 2009 Joined Merrill Lynch Japan Securities Co., Ltd. (now BofA Securities Japan Co., Ltd.) (left May 2023) Jun 2023 Partner, Bitenkyoshi Co., Ltd. Jun 2024 Outside Director, Audit and Supervisory Committee Member of the Company (current) Jul 2024 Director, Bitenkyoshi Co., Ltd. (current) Significant Concurrent Positions: Director, Bitenkyoshi Co., Ltd.
1977-05-02
Shuichi HORIKOSHI
Director, Audit and Supervisory Committee Member
Apr 1984 Joined The Bank of Tokyo, Ltd. Jun 2011 Executive Officer; Head of Corporate Business Department, Europe Division, Europe Headquarters; seconded to BTMU (Europe) May 2012 Executive Officer; General Manager, Hong Kong; General Manager, Hong Kong Branch Aug 2014 Executive Officer; President, The Bank of Tokyo-Mitsubishi UFJ (China), Ltd. May 2015 Managing Executive Officer; President, The Bank of Tokyo-Mitsubishi UFJ (China), Ltd. May 2016 Managing Executive Officer; Head of East Asia Division and in charge of China Locations; President, The Bank of Tokyo-Mitsubishi UFJ (China), Ltd. Apr 2018 Managing Executive Officer; Head of East Asia Division and in charge of China Locations; President, MUFG Bank (China), Ltd. Jun 2018 Managing Executive Officer; Head of East Asia Division, MUFG Bank, Ltd. (resigned Jun 2018) Jun 2018 Representative Director and President, Soutsu Co., Ltd. Jun 2022 Representative Director, Chairman, Soutsu Co., Ltd. (current)
Large Shareholding Reports
Amova Asset Management Co., Ltd.
2025-10-21
4.44%→4.72%
Amova Asset Management Co., Ltd.
2025-09-19
3.58%→4.44%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-16
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-05-26
株主総会招集通知
TDnet
2026-01-30
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-07
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-10-21
Large Shareholding Report
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-07-31
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-20
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-31
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-07
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-31
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-25
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-04-26
中期経営計画
EDINET
2024-02-06
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-07
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-04
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-27
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-06
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-07
Quarterly Securities Report
EDINET
2022-08-04
Quarterly Securities Report
EDINETAmended
2022-07-05
Amended Annual Securities Report
EDINET
2022-06-24
Annual Securities Report
EDINET
2022-02-04
Quarterly Securities Report
EDINET
2021-11-05
Quarterly Securities Report
EDINET
2021-08-05
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-04
Quarterly Securities Report
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