Toyota Motor Corp

Market reaction to Toyoda's announcement was muted - the automaker's stock price was little changed on Friday

Toyota Motor Corp. said Thursday that its CEO and president, Akio Toyoda, will become chairman. He will be replaced as CEO by the automaker's chief branding officer, Koji Sato. Toyota announced the leadership reshuffle without any forewarning, but it had a lively promotional video prepared to highlight Toyoda and Sato's love for electric vehicles and fast cars. Sato, 53, has been managing the Toyota group's Lexus brand operations and motor racing. Toyoda, grandson of Toyota's founder Kiichiro Toyoda, took over as CEO of Toyota in 2009. He will replace as chairman Takeshi Uchiyamada, who is giving up the title but will remain a representative director at the company. Toyoda had earlier hinted he was thinking about who might succeed him.

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TOKYO (Reuters) -Toyota Motor Corp on Tuesday posted a 25% drop in second-quarter operating profit, as soaring parts and materials costs outweighed a boost in overseas revenue from the plunging yen

The company has worked towards meeting the mobility needs of consumers

Japan's Toyota Motor Corp said it missed its global production target for April as Covid-19 outbreaks and a parts shortage slowed its post-pandemic recovery

Toyota said there was "a possibility" that it could lower its full-year production plan of 9.7 million vehicles.

The move follows the company's recent announcement that it will invest 48 bn rupees ($621 mn) in India to localise the supply chain for EVs, and is also part of its broader 2050 carbon-neutrality goal

Some analysts expect the economy to contract again in the current quarter as rising Covid cases and supply chain disruptions hit factory output

By 2030, Toyota is aiming for annual sales of 3.5 million BEVs, CEO Akio Toyoda told a news briefing, equivalent to around a third of its current global sales

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Toyota jacked up its full-year earnings forecast by a bigger-than-expected 54% to a record $19 billion, raising vehicle sales target as global demand led by China rebounds from pandemic-induced slump

The automaker has informed its main suppliers of the plan, which reflects sales momentum in China and demand recovery in North America and Japan, the Nikkei said, without citing sources

Toyota more than doubled its full-year operating profit forecast, as vehicle sales rebound in China from a pandemic squeeze earlier this year that contributed to a 24% slide in second-quarter earnings

Toyota said it remains deeply committed to the Indian market, refuting once again the claims by a senior company official earlier that it would stop further expansion in India over high taxes

Toyota, one of the world's biggest carmakers, began operating in India in 1997. Its local unit is owned 89% by the Japanese company and has a small market share

Through deepening partnership with Maruti, Toyota in India will be able to draw buyers

The rebadging experiment is the outcome of a broader agreement that Toyota Motor Corp and Suzuki Motor Corp stitched up in March 2018

The move accelerates a trend in China which has seen automakers launch their own ride-hailing services, and ride-hailing firms such as Didi team with automakers