Japan's Toyo increases stock prices due to plans to expand into semiconductor component business.

Japanese sanitary ware manufacturer Toyo announced plans to increase investment in chip components business due to strong demand for artificial intelligence, causing its Tokyo stock price to soar by 18% in intraday trading, marking the largest single-day increase in history. Toyo stated on Thursday that they will increase investment and expand the research and production capacity of static suction cups, which are mainly used in NAND flash memory manufacturing. This leading sanitation company also revealed that their high-end ceramics business achieved a revenue of 67.4 billion yen in the fiscal year ending in March, representing a 34% year-on-year increase. At the same time as the surge in stock prices, Toyo is facing pressure from the UK activist fund Paltzer Capital. The fund recently acquired shares in the company and called for Toyo to further promote the chip component sector. Paltzer Capital believes that Toyo is missing out on the industry boom brought by artificial intelligence and should increase market attention to its static suction cup business.