Toyota North America changes CEOs in January, with Mark Templin taking over. Ted Ogawa will return to Japan in April.

Toyota's shares rose 9% in premarket trading after reporting higher-than-expected quarterly operating profit and raising its full-year operating income forecast, despite lowering its sales outlook.

Toyota Motor North America announced Mark Templin will become CEO on Jan. 1, 2027, succeeding Ted Ogawa. Ogawa will return to Toyota Motor Corporation in Japan. Templin, currently COO, will lead North American operations. Toyota has invested heavily in U.S. manufacturing, including a $14B battery plant and a $3.6B expansion in San Antonio.

Toyota reported a 34% year-over-year increase in operating profit to 1.13 trillion yen, driven by strong hybrid sales. The company raised its full-year forecast to $24.6 billion. Shares surged 17% on the news. Toyota also announced plans to expand its robotics business and increase share buybacks to 1.3 trillion yen.

Toyota Motor Corp. raised its fiscal 2027 profit outlook after reporting strong first-half results, with net income up 26.1% year-over-year. Shares climbed 17% in Japan and 9% in pre-market NYSE trading. The company expects ¥3.570 trillion in net income and ¥3.900 trillion in operating income for the year, while trimming sales revenue forecasts. Toyota also increased its share repurchase authorization by ¥300 billion.

Toyota raised its FY2027 operating income forecast to Y3.9tn ($24.69bn) despite lowering its sales revenue outlook to Y53.5tn. The company cited operational improvements and cost savings for the upgrade, with first-half revenue up 9.5% and operating income up 9.2%.

Toyota reported a 19% drop in Q2 profit to 759.4 billion yen but raised its full-year forecast to 3.57 trillion yen. Sales rose to 13.4 trillion yen despite global challenges. The company expects to sell 9.7 million vehicles this fiscal year, benefiting from a weak yen. Toyota shares rose in Tokyo trading.