Toyota raises profit forecast and unveils $6B buyback despite disruptions
Toyota revised up its outlook for the year ending March to 3.4 trillion yen operating profit amid weak China sales and Iran-war pressure on Middle East demand and costs. The Iran-war hit is now expected at 510 billion yen. The upgrade excluded a deadly Kyushu earthquake that halted output at four domestic plants. Toyota plans up to 1 trillion yen of buybacks and to cancel 200 million shares.