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Existing token reduction methods rely on attention-based scores or pairwise similarity, without an explicit semantic representation of each token. We introduce TORINO (TOken Reduction via Interpretable coNcept Overlap), a plug-and-play framework for adaptive visual token reduction in VLMs that requires no fine-tuning of the underlying model. TORINO leverages Sparse Autoencoders (SAEs) to project visual tokens into an interpretable latent space where token relationships can be analyzed through shared concept activations. Specifically, we define concept overlap as the degree of agreement between active SAE latents and use it to group tokens that share semantic content. 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