Japan sanitary ware firm TOTO earns 2022 profit of $19 mln in Vietnam
Sanitary ware firm TOTO earned an operating profit of VND454 billion ($19.2 million) in Vietnam for fiscal year 2022 (April 2022-March 2023), up 38% year-on-year.
According to the Japanese business’s report, the firm recorded net sales of VND4.87 trillion ($205.9 million) in the period, up 12.3% year-on-year. The operating margin reached 9%, up two percentage points.
TOTO attributed higher sales and profits in Vietnam to the recovery of domestic demand.
A TOTO showroom in Ho Chi Minh City. Photo courtesy of the company.
Regarding its global operations, TOTO made an operating profit of JPY49,121 million ($354.5 million) on net sales of JPY701,187 million ($5.06 billion) in fiscal year 2022, down 5.9% and up 8.7% year-on-year.
For the Asia-Oceania segment, the business noted Covid-19 restrictions are expected to be eased and the firm is working to enhance production in Vietnam and Thailand for export.
Last December, TOTO Vietnam completed the construction of a $100-million faucet factory in the northern province of Vinh Phuc. The 10-hectare plant in Thang Long Industrial Park can produce 600,000 hoses, valves, and accessories for restrooms and kitchens per year, and assemble 1.3 million products annually.
TOTO Vietnam has four other factories in Vietnam. The first and second were opened in Hanoi in 2004 and 2006, while the third and fourth made their debut in the northern province of Hung Yen in 2018 and July 2022.
- Related News
- Read More
Thaco deepens ties with Hyundai Rotem to localize railway manufacturing in Vietnam
Vietnamese conglomerate Thaco and South Korea’s Hyundai Rotem have signed a detailed technology transfer and localization agreement for railway rolling stock production.
Industries - Mon, June 15, 2026 | 4:01 pm GMT+7
UOB Vietnam appoints Pham Hong Hai as deputy country CEO
Singapore's United Overseas Bank (Vietnam) Limited on Monday appointed Pham Hong Hai, former CEO of HSBC Vietnam and later Vietnamese bank OCB, as deputy country CEO, effective immediately.
Banking - Mon, June 15, 2026 | 2:26 pm GMT+7
Shinhan Bank Vietnam launches AI translation desk, strengthening customer experience, digital innovation
Shinhan Bank Vietnam has officially launched AI Translation Desk, an AI-powered interpretation solution designed to help foreign customers communicate more easily while using banking services in Vietnam.
Banking - Mon, June 15, 2026 | 12:03 pm GMT+7
FDI listings a missing piece in Vietnam's stock market development
As Vietnam's stock market moves closer to its long-awaited upgrade to secondary emerging market status and seeks to attract higher-quality capital, allowing more foreign-invested companies to list on domestic exchanges could broaden the pool of investable assets and support the next phase of capital market development.
Finance - Mon, June 15, 2026 | 11:14 am GMT+7
Chinese robot 'eyes' manufacturer builds 10-hectare factory in northern Vietnam
Orbbec Inc., a Chinese company specializing in 3D vision sensors and robotic hardware, is building an over-10-hectare manufacturing center in the northern province of Bac Ninh to serve international markets.
Industries - Mon, June 15, 2026 | 8:00 am GMT+7
Long Thanh airport project faces shortage of 2,000 workers
The Long Thanh International Airport project in the southern province of Dong Nai is still short nearly 2,000 workers compared to actual requirements during its final acceleration phase.
Infrastructure - Sun, June 14, 2026 | 6:08 pm GMT+7
Nghi Son Refinery and Petrochemical Complex turns profitable in Q1 on full-capacity operations
Operating at full capacity, the Nghi Son Refinery and Petrochemical Complex in Vietnam's central province of Thanh Hoa reported its first profit in Q1/2026, marking a significant turnaround after years of losses.
Economy - Sun, June 14, 2026 | 2:45 pm GMT+7
50 years of Gamuda Berhad and its urban development journey in Vietnam
Celebrating 50 years of establishment and growth, Gamuda Berhad – one of Malaysia’s leading infrastructure and urban development groups – has evolved from an infrastructure specialist into an integrated urban developer with a growing presence across Asia.
Real Estate - Sun, June 14, 2026 | 11:21 am GMT+7
Industrials, technology top Vietnamese sectors in M&A transaction volume
Vietnam’s M&A market recorded 24 transactions in May, with industrials, technology and healthcare sectors being the most active sectors in terms of transaction volume, writes Grant Thornton analysts.
Consulting - Sun, June 14, 2026 | 9:00 am GMT+7
Top Vietnamese garment maker Vinatex's H1 profit rises 14%, weak order visibility clouds outlook
Vietnam National Textile and Garment Group (UPCoM: VGT) reported consolidated profit growth of 14.4% in the first half of 2026, driven by a strong recovery in its yarn business, even as weakening global demand and uncertainty over U.S. trade policy cast a shadow over the sector’s outlook.
Companies - Sun, June 14, 2026 | 8:00 am GMT+7
Gamuda Land Vietnam recognized among Top 10 Enterprises Pioneering Green Transformation 2025-2026
Gamuda Land Vietnam has been recognized as one of the “Top 10 Enterprises Pioneering Green Transformation 2025-2026” at the 25th Golden Dragon Awards.
Companies - Sat, June 13, 2026 | 7:45 pm GMT+7
T&T pushes ahead with $97 mln industrial park project, eyes new urban area projects in northern Vietnam
Vietnamese conglomerate T&T Group is seeking to accelerate five projects in Bac Ninh while proposing two new developments in this northern province.
Infrastructure - Sat, June 13, 2026 | 7:09 pm GMT+7
VinFast guns for 300,000 EV deliveries in 2026, spins off manufacturing operations
VinFast, the EV arm of Vietnamese conglomerate Vingroup (HoSE: VIC) targets at least 300,000 electric vehicle deliveries globally this year, up 52% year-on-year, while pursuing a restructuring plan aimed at improving capital efficiency, according to a report by Vietcap Securities.
Companies - Sat, June 13, 2026 | 3:07 pm GMT+7
Vietnam economy resilience amid cost pressures, external strains: UOB
The VND has stabilized in recent weeks, trading in a range of VND26,291-26,372 per U.S. dollars in April-May, well within the State Bank of Vietnam’s ±5% band. In a report released on Friday, UOB analysts say on balance, they retain a gradual depreciation bias for the USD/VND, with updated forecasts of 26,500 in Q3/2026, 26,400 in Q4/2026, 26,300 in Q1/2027, and 26,100 in Q2/2027.
Consulting - Sat, June 13, 2026 | 11:49 am GMT+7
Vietnam Politburo issues resolution on FDI sector development
The Politburo, Vietnam's highest decision-making body, has issued a resolution that establishes a new mindset in developing the FDI sector.
Economy - Sat, June 13, 2026 | 8:17 am GMT+7
Japan’s Meiko breaks ground on $500 mln electronic circuit plant in northern Vietnam
Japanese electronics manufacturer Meiko Group on Friday broke ground on a $500 million electronic circuit plant in northern Vietnam, underscoring the country’s growing role in global technology supply chains and advanced manufacturing.
Investing - Fri, June 12, 2026 | 4:06 pm GMT+7
