Activist Palliser Takes Stake in Toilet Firm Toto in AI Play

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The AI Race:Activist fund Palliser Capital has taken a stake in Japanese washlet maker Toto Ltd. and is pushing the firm to ramp up promotion of its little-known chip parts business in a bid to unlock value from the AI boom. The UK-based fund sent a letter to Toto’s board last week calling for more disclosure about its advanced ceramics segment, according to documents obtained by Bloomberg. The segment produces electrostatic chucks used in NAND manufacturing, and Palliser views the toilet maker as “the most undervalued and overlooked AI memory beneficiary,” the documents show.