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Toyota Lifts Annual Profit Forecast Despite U.S. Tariffs as Shares Fall

The outlook trailed market expectations, prompting a share-price drop.

A car carrier truck drives past a sign at the Toyota Motor Manufacturing plant in Cambridge, Ontario, Canada, March 13, 2025. REUTERS/Carlos Osorio
Image
Members of the media and guests look at Toyota's Corolla concept during the press day of the Japan Mobility Show, in Tokyo, Thursday, Oct. 30, 2025. (AP Photo/Louise Delmotte)
Staff gather near a Toyota signage during the press day of the Japan Mobility Show, in Tokyo, Thursday, Oct. 30, 2025. (AP Photo/Louise Delmotte)

Overview

  • Net profit for April–September fell 7% to 1.77 trillion yen, and July–September operating profit of 834 billion yen missed LSEG estimates.
  • Toyota now projects operating income of 3.4 trillion yen and net profit of 2.93 trillion yen for the year ending March 2026.
  • The company estimates a roughly 1.45 trillion yen full-year hit from U.S. tariffs, an increase of 50 billion yen from its earlier assessment.
  • Management said higher sales, cost cuts and value‑chain gains will offset much of the tariff burden, with selective price moves rather than broad increases.
  • Japan’s car exports to the U.S. fell about 24% by value in September after a 28% drop in August, following the implementation of a 15% import levy.