Overview
- Kon will succeed Koji Sato as CEO and president in April, pending shareholder approval expected in June, as Sato moves to lead JAMA and retain a Keidanren role.
- Toyota raised its full-year profit forecast to ¥3.57 trillion, which remains about 25% below last year’s outcome.
- Profit for the October–December quarter fell 43% to ¥1.25 trillion from a year earlier.
- The company estimates U.S. tariffs erased ¥1.45 trillion of operating profit last year, with higher material costs also pressuring results.
- The shake-up coincides with a contested bid to privatize Toyota Industries opposed by Elliott Investment Management, and Tokyo-listed shares rose about 2%.