Toyota unveils ¥1 trillion share buyback and raises profit outlook
Rresilient hybrid demand and a weak yen have helped make up for rising costs, tariffs and supply disruptions.
Toyota Motor disclosed a ¥1 trillion share repurchase and updated its profit expectations on Tuesday. The company's resilient hybrid vehicle demand, coupled with a weak yen, helped offset the impact of increasing costs, tariffs, and supply chain issues. As the world's largest carmaker, Toyota raised its operating profit forecast for the fiscal year ending in March by more than 10% to ¥3.4 trillion.
Analysts anticipate an average profit of ¥3.9 trillion. Stock prices rebounded from earlier declines but were still down 1.4% in Tokyo afternoon trading. Toyota has reaped benefits from the enduring popularity of gas-electric hybrids, a technology it pioneered, as well as the weakened yen in the first half. These factors provided a cushion against rising raw material costs and supply chain disruptions caused by the ongoing war in Iran, which has disrupted key shipping routes in the region.
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- Toyota raises profit forecast as weak yen boosts earnings freemalaysiatoday.com
- Toyota raises full-year net profit forecast, helped by weak yen asia.nikkei.com
