Activist investor targets toilet maker Toto as 'most undervalued AI memory beneficiary'

UK fund Palliser Capital took a stake in Japanese washlet maker Toto, calling it "the most undervalued and overlooked AI memory beneficiary." Toto's little-known advanced ceramics segment produces electrostatic chucks used in NAND manufacturing. Palliser sent a letter to Toto's board pushing for more disclosure about the segment, which is benefiting from the AI-driven memory chip boom. AI demand is reaching unlikely corners of the industrial economy.

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