Japanese automaker Toyota Motor Corp. disclosed on Tuesday a substantial rise in net profits during its opening quarter, although operating profits decreased compared to the prior year owing to reduced sales volumes. Additionally, the company elevated its outlook for fiscal 2027, projecting continued softness in earnings but with improved revenues and volumes.

The firm further authorized a share repurchase program worth up to 1 trillion yen via open-market buys. It will cancel 200 million shares of treasury stock, equal to 1.37 percent of total issued shares.

In Tokyo trading, shares fell roughly 1.91 percent to 2,907.00 yen.

For the full year ending March 31, 2027, Toyota now anticipates attributable profit of 3.25 trillion yen or 272.17 yen per basic share, a 15.5 percent drop from last year, along with operating income of 3.40 trillion yen, down 9.7 percent year-over-year.

Earlier projections called for attributable profit of 3 trillion yen or 251.25 yen per basic share, down 22 percent, and operating income of 3 trillion yen, down 20.3 percent year-over-year.

Sales revenues are now seen rising 6.5 percent to 54 trillion yen, versus the prior forecast of 51 trillion yen, up just 0.6 percent.

The upward revision stems from shifts in external conditions including foreign exchange rates, plus marketing initiatives such as new logistics routes to the Middle East.

The effects of the 2026 Kumamoto Earthquake remain under review and are not yet included in the forecast.

Consolidated vehicle sales for the year are now expected at 9.70 million units, above the previous 9.60 million target and last year's 9.595 million units.

For the first quarter, net profit attributable to owners of the parent reached 1.477 trillion yen, climbing 75.6 percent from 841.35 billion yen a year earlier. Profit per share stood at 120.69 yen versus 64.56 yen previously.

Operating income declined 8.8 percent to 1.06 trillion yen from 1.17 trillion yen.

Sales revenues increased 10.4 percent to 13.525 trillion yen from 12.253 trillion yen.

Consolidated vehicle sales totaled 2.395 million units, down from 2.411 million units last year.

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