Toyota announces a $6.3 billion stock buyback.

Toyota Motor Corporation announced a stock repurchase plan worth 1 trillion yen and raised its profit forecast. Benefiting from the recent depreciation of the yen, Toyota has seen strong sales in both the U.S. and Japanese markets. The world's largest automaker stated on Tuesday that it expects operating profit for the fiscal year ending in March of the following year to reach 3.4 trillion yen, while market analysts had an average expectation of 3.9 trillion yen. The company also raised its revenue forecast from the previous 51 trillion yen to 54 trillion yen. Toyota was the first to develop hybrid technology, and its hybrid models continue to sell well in the U.S. market, providing strong support for the company. Additionally, the depreciation of the yen in the first half of the year has somewhat offset the impact of rising raw material prices and supply chain disruptions caused by the situation in Iranconflicts have disrupted several key shipping routes in the Middle East. As of the end of June, the quarterly profit was 1.1 trillion yen, marking a year-on-year decline for five consecutive quarters, with quarterly revenue at 13.5 trillion yen. Toyota had already warned investors in May that profits this year might unexpectedly decline. The company stated that the conflict in Iran has caused supply chain disruptions, which are expected to impact profits by 670 billion yen.