Toyota Motor Corp. Sponsored ADR (TM.US) raised its full-year profit guidance. CFO Kenichiro Ito will take over as CEO.

Toyota Motor Corp. Sponsored ADR announced its third-quarter performance for the fiscal year 2026 on Friday, with the financial report showing that sales revenue for Toyota Motor Corp. Sponsored ADR in the quarter amounted to 13.46 trillion yen, an increase of 8.6% compared to the same period last year, while net profit was 1.26 trillion yen, a decrease of 43%. Toyota Motor Corp. Sponsored ADR is expected to have a full-year sales revenue of 50.00 trillion yen, up from the previous forecast of 49.00 trillion yen, and a net profit of 3.57 trillion yen, up from the previous forecast of 2.93 trillion yen. The company has raised its full-year operating profit forecast by 11.8%, citing the weakening yen and cost reductions that help offset the impact of U.S. tariffs. The financial report shows that electrified vehicles accounted for nearly half of its retail car sales in the first three quarters of the fiscal year. The growth in sales is mainly due to strong demand for hybrid models in regions such as North America and China. It is estimated that sales in Asia for the 2025/26 fiscal year will reach 1.82 million units, down from the previous forecast of 1.84 million units. Toyota Motor Corp. Sponsored ADR also announced that its CEO, Hajime Sato, will step down and be succeeded by CFO Kentaro Chikai. This marks the second CEO change for the automaker in three years. The leadership change will take effect on April 1st. At that time, Hajime Sato will become Vice Chairman and take on the newly established position of Chief Industry Officer. The company stated in a release: "Under the new leadership structure, Sato, as Vice Chairman and Chief Industry Officer, will focus on broader industry affairs including Toyota; while Chikai, as President and CEO, will focus on internal management of the company." Board adjustments will also take place in June 2026, with Kentaro Chikai joining the board as a director, while Hajime Sato will resign from his board position. Sato took over as CEO from Akio Toyoda in 2023.