卫浴巨头跨界 AI：百年东陶靠半导体零部件闷声发大财

From Bathrooms to Big Tech: Why This Japanese Toilet Maker Just Became an AI Powerhouse

从卫浴间迈向科技前沿：这家日本马桶厂商如何蜕变为 AI 领域的关键角色

While it may be known for its ceramic products, Toto plans to expand production of its semiconductor components, which play a crucial role in the AI industry.

尽管东陶（TOTO）素以陶瓷制品闻名，但该公司正致力于扩大半导体组件的产能，这些组件在人工智能产业中扮演着不可或缺的角色。

May 4, 2026

It isn't just the tech industry that's embracing AI. Recently, a Japanese toilet maker cemented its place as a key player in the industry when it announced plans to boost production of semiconductor components.

拥抱人工智能浪潮的并非仅有科技巨头。近日，一家日本卫浴企业宣布计划提升半导体部件产量，从而稳固了其在行业内的核心地位。

Shares in the company, Toto, surged after the announcement. However, while it may seem a bit extreme for a toilet producer to embrace AI, such a shift isn't abnormal for Toto.

消息一经发布，东陶股价应声大涨。然而，虽然马桶制造商跨界 AI 看似有些激进，但对东陶而言，这种转型实则顺理成章。

Since its inception in 1917, Toto has been well-known for its ceramics-related products—ranging from public toilets and modular kitchens to bathtubs and washbasins. In 1988, it started producing electrostatic chunks, which have become one of its most popular products, accounting for almost half of its operating income as of last year, according to Bloomberg.

自 1917 年创立至今，东陶一直深耕陶瓷相关产品，业务涵盖公共卫浴系统、整体厨房、浴缸及洗脸台等。早在 1988 年，东陶便涉足静电吸盘生产，如今这已成为其支柱业务。据彭博社数据显示，截至去年，静电吸盘贡献了公司近半数的营业利润。

Approximately the size of a steering wheel, the electrostatic chuck is a ceramic plate that uses an electrostatic force to hold semiconductors in place, making them vital components of the production of NAND memory chips. Today, Toto is the world's second-largest producer of the parts.

静电吸盘大小酷似方向盘，是一种利用静电力固定半导体晶圆的陶瓷基板，是 NAND 闪存芯片制造过程中的核心组件。目前，东陶已是全球第二大该类部件生产商。

Last Friday, Toto reported record-breaking annual earnings—with shares jumping over 18 percent, a five-year high for the company. The advanced ceramics division, which includes the electrostatic chucks, grew to $429 million in the 2025 fiscal year—and accounted for more than 50 percent of its profits, according to MarketWatch.

上周五，东陶公布了创纪录的年度财报，股价随之飙升逾 18%，创下五年新高。据 MarketWatch 报道，包含静电吸盘在内的先进陶瓷部门在 2025 财年营收达 4.29 亿美元，贡献了公司超五成的利润。

A pivot toward AI

向 AI 领域的战略转身

Toto said it expects to increase its investment in electrostatic chunks as the demand for data centers and AI services continues to rise. The company projects its sales of the product to grow 27 percent in the next year, even pledging to invest $191.1 million toward more research and development.

东陶表示，伴随数据中心与 AI 服务需求的持续攀升，公司计划进一步加大在静电吸盘领域的投资。公司预测该产品明年销量将增长 27%，并承诺投入约 1.911 亿美元用于深化研发。

Even though Toto's approach may appear to be unconventional, it isn't the only Japanese company that has pivoted to producing essential AI components.

尽管东陶的发展路径看似独辟蹊径，但它并非唯一一家转向生产 AI 核心组件的日本企业。

Kao Corporation—the parent company responsible for products like Oribe, Jergens, and Bioré—started producing semiconductor-related materials last year, including unique cleaning solutions. Its sales for semiconductor cleaning have risen by 40 percent, contributing to a 7-percent gain in their overall chemical business revenue, accounting for 24 percent of their total sales, according to Nikkei Asia.

花王集团，即 Oribe、Jergens 及 Bioré 等品牌的母公司，去年已启动半导体相关材料（含专用清洗液）的生产。据《日经亚洲》报道，其半导体清洗业务销售额激增 40%，推动整体化学业务收入增长 7%，目前该板块已占据总销售额的 24%。

Others are taking notice of Toto. Palliser Capital, the UK-based activist fund, sent a letter to Toto's board earlier this year saying that the company holds a "crucial position in the semiconductor supply chain," according to The Japan Times. Now, they're calling Toto "the most undervalued and overlooked AI memory beneficiary."

东陶的潜力也引起了外界的高度关注。今年早些时候，英国激进投资基金帕利瑟资本（Palliser Capital）致函东陶董事会，指出其在半导体供应链中占据“关键位置”。该机构甚至将东陶誉为“最被低估且被忽视的 AI 存储受益者”。

The global market appears to be agreement with Palliser, ensuring that Toto is now seen as a major player in the world of toilets—and AI.

全球市场似乎正认同这一观点。如今的东陶，不仅被视为卫浴界的领军者，更被重新定义为 AI 产业链中举足轻重的重要参与者。