Toyota said it will implement a ¥1 tln buyback (≈$63bn) and raised its fiscal-year operating profit forecast to March to ¥3.4 tln, up more than 10% from prior guidance but below analysts’ average estimate of ¥3.9 tln. The company also raised sales guidance to ¥54 tln from ¥51 tln. Shares initially fell then were 1.4% lower in Tokyo afternoon trade. Toyota cited continued strong US demand for hybrid vehicles and a weaker yen in 1H, which helped offset surging raw-material costs and supply disrupt

Toyota said it will implement a ¥1 tln buyback (≈$63bn) and raised its fiscal-year operating profit forecast to March to ¥3.4 tln, up more than 10% from prior guidance but below analysts’ average estimate of ¥3.9 tln. The company also raised sales guidance to ¥54 tln from ¥51 tln. Shares initially fell then were 1.4% lower in Tokyo afternoon trade. Toyota cited continued strong US demand for hybrid vehicles and a weaker yen in 1H, which helped offset surging raw-material costs and supply disruptions linked to the Iran conflict.