Lates News

Toyota Motor Corporation has announced a stock buyback plan valued at 1 trillion yen (approximately 6.3 billion USD) and raised its full-year profit forecast. The world's largest automaker has increased its operating profit expectation for the fiscal year ending next March by more than 10% to 3.4 trillion yen, although analysts' average expectations are 3.9 trillion yen. Toyota's stock price briefly fell before recovering some of its losses, but it is still down 1.4% in afternoon trading in Tokyo. Toyota benefits from sustained strong demand for hybrid vehicles in the U.S. market. Additionally, the weak yen in the first half of the year provided a cushion for the company, allowing it to partially offset the impacts of soaring raw material costs and supply chain disruptions caused by the war in Iran. Toyota has also raised its sales forecast from the previous 51 trillion yen to 54 trillion yen.