Jaden Schafer

And like, you know, there's like all this crazy.

Everyone's heard the legendary fables of Japanese toilets.

And Toto also is a brand that.

is in America.

You've seen it in lots of airports as well, as far as just a toilet company.

Now, in order to make these toilets, they obviously have to do a lot of work in manufacturing in ceramic.

And there's a new report that just came out of the Financial Times that says a UK activist investor

Pallister Capital, has taken a stake in this company.

They sent a letter to the board and they argued that Toto's advanced ceramic division is dramatically undervalued.

They said that the company, which of course is just known for toilets, sitting in the middle, is basically right now sitting in the middle of AI infrastructure and semiconductors supply chain story, and that it should be playing a bigger role.

Pallister goes so far as to call Toto, quote, the most undervalued and overlooked AI memory beneficiary.

I think that is definitely...

activist framing.

This is not kind of a neutral analysis, but it's rooted in something really real, right?

There is a surge in AI spending right now, and it has tightened memory markets, and it's really intensified demand for semiconductor manufacturing tools.

And Toto is, I guess, apparently in this whole ecosystem.

So for decades, Toto has been producing AI

highly specialized ceramic components, which are used in chip fabrication.

These aren't, you know, in bathrooms, of course, but they're precision engineered parts and they hold silicone wafers in place during delicate processes like etching and deposition.

And so they have to be able to go up to really extreme heats