Toyota raises annual profit forecast despite quarterly decline

Japan's Toyota Motor raised its full-year profit forecast to ¥3.57 trillion for the year ending March 2027, up from ¥3.25 trillion.

The change came as July-September net profit fell 19% from a year earlier to ¥759.4 billion.

For the first half of the fiscal year, Toyota reported net profit of ¥2.24 trillion, up 26.1% year on year.

Toyota's sales rose despite US tariffs, supply disruptions and higher material costs linked to the war in the Middle East.

A weak yen also helps Japanese exporters by increasing the yen value of revenue earned overseas.

Toyota expects to sell 9.7 million vehicles worldwide this fiscal year, compared with nearly 9.6 million in the previous year.

Its revised forecast still puts full-year profit below last year's ¥3.8 trillion, and Toyota's shares rose in Tokyo after the results were announced.