Toyota Motor North America names new CEO

Toyota's finance subsidiaries in Netherlands, Canada, Australia, and the U.S. published a supplementary prospectus for their €60B Euro Medium Term Note Programme on 6 Nov 2026. The document is available online and will be submitted to the National Storage Mechanism.

Toyota shares rose 17% after reporting a 34% year-on-year increase in operating profit to 1.13 trillion yen, surpassing expectations. The company raised its full-year profit forecast to 3.9 trillion yen and increased its share buyback program to 1.3 trillion yen. Global vehicle sales rose 5.0% to 4.783 million units, with strong hybrid demand offsetting declines in China and the Middle East.

The Democratic Party won control of the U.S. Senate and House in the midterms, leading to a sharp sell-off in tech stocks. The Nasdaq dropped 5.5% on AI regulation fears, with Nvidia and Micron among the hardest hit. Investors are concerned about tighter data center rules under Democratic control.

Toyota plans to expand its San Antonio plant, investing $3.6 billion to build the Tacoma truck in 2030 and potentially add other body-on-frame models. The expansion doubles capacity to 350,000 vehicles annually. Toyota reported a North American loss due to tariffs and new vehicle launches, but it improved from the previous year. Mark Templin will become Toyota Motor North America CEO in 2027.

Toyota reported Q2 2027 earnings with sales of JPY 26.96 trillion and operating income of JPY 2.19 trillion, despite challenges. They increased share repurchase authorization by JPY 300 billion and plan to cancel 1 billion shares. Full-year forecasts include sales of JPY 53.5 trillion and operating income of JPY 3.9 trillion. Toyota aims to boost profitability and shareholder returns.

Toyota shares rose 10% after raising its profit forecast to ¥3.9 trillion and announcing an $89 billion shareholder return plan. Operating profit for July-September increased 34% to ¥1.13 trillion, driven by a weaker yen, hybrid sales, and lower US tariffs. Analysts note the company's cash reserves and potential upside, though a stronger yen could impact future earnings.