Japan’s Toto to close 2 plants in China as housing market slumps

KITAKYUSHU, Japan — Japanese bathroom fixture maker Toto said Monday that it will close two of its factories in China, seeking to stem eroding profitability amid the country’s property market downturn and a price war with local rivals.

Operations at the Toto factories in Beijing and Shanghai came to a halt on the same day. The sites will soon be permanently closed, and their operating companies will be liquidated.