Toyota Names CFO Kenta Kon CEO, Raises Profit Outlook

Overview

• Kon will take over on April 1 as Koji Sato moves to vice chair and a new chief industrial officer role.
• Toyota now forecasts net profit of 3.57 trillion yen for the year to March, up from 2.93 trillion yen previously yet 25.1% below last year.
• The company lifted its revenue outlook to 50 trillion yen and said cost cuts plus marketing helped offset tariff-driven expenses.
• For September–December, net and operating profit declined despite higher sales, which the company linked to U.S. tariffs that climbed to 25% before a 15% cap.
• Toyota projects roughly $24 billion in operating profit for the fiscal year and estimates U.S. tariffs will shave about $9 billion from that figure.