Toyota raises profit forecast to $20.6 billion

Toyota raised its full-year profit forecast on Tuesday, saying it now expects net income of 3.25 trillion yen, or $20.6 billion, for the year to March 31, 2027.

The Japanese automaker had previously forecast net income of 3.0 trillion yen in May. The new forecast still points to a 15.5 percent fall from the 3.8 trillion yen Toyota earned in 2024-25.

Toyota said the higher outlook reflected changes in external conditions, including foreign exchange assumptions, and marketing efforts such as setting up alternative logistics routes to the Middle East.

The company forecast operating income of 3.4 trillion yen, up from its previous forecast of 3.0 trillion yen. It predicted revenue of 54.0 trillion yen, a 6.5 percent rise from the previous year.

For the first quarter, Toyota said net income rose 75.6 percent to 1.5 trillion yen. Operating income fell 8.8 percent to 1.1 trillion yen, while revenue rose 10.4 percent to 13.5 trillion yen.

Japan and the United States confirmed on Monday that they jointly intervened in financial markets last week, buying yen for the first time since the Asian financial crisis in 1998.