Toyota lifts annual forecast and announces stock buyback, but shares fall
The automaker cited a weaker yen, resilient hybrid demand and cost cuts as it lifted sales targets and set a buyback equal to 4.22% of shares.
- On Tuesday, Toyota Motor Corp raised its annual operating profit forecast by 13% and announced a share buyback program worth up to 1 trillion yen amid global market pressures.
- A weaker yen bolstered overseas earnings for the Japanese automaker, offsetting a fifth consecutive quarterly earnings decrease driven by slumping sales in China.
- Toyota recorded a 1.48 trillion yen net profit in the April-June period while navigating production disruptions from the Middle East situation and a recent earthquake on Kyushu.
- Chief Officer Takanori Azuma said Toyota is developing "various logistics routes" to the Middle East, as detours around South Africa's Cape of Good Hope doubled shipping lead times.
- For the fiscal year ending March 31, 2027, Toyota expects 3.25 trillion yen in net income and raised its annual vehicle shipment target by 100,000 units to 9.7 million.
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52 Articles
Toyota lifts annual forecast and announces stock buyback, but shares fall
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The Toyota car manufacturer recovers little by little. On Tuesday the brand presented its financial results for the first quarter, in which they have achieved a net profit of 8,100 million euros, a figure that has skyrocketed by 76% regarding the same period of the previous year, although they have reduced their forecasts for the remainder of the year. The operating profit, however, went back by 8.8%, to 5,750 million euros, while the operating …
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