Toyota’s net profits plunge 43%

Toyota Motor Corporation reported a 43% plunge in net profits to JPY 1.26 trillion (US$ 8 billion) in the third quarter of the current fiscal year (FY26), between October and December 2025, down from JPY 2.19 trillion a year earlier, which the company blamed on the introduction last year of import tariffs in the US. Revenues rose by 8.6% to JPY 13.46 trillion (US$ 86 billion). Toyota also announced that its current CEO and president, Koji Sato, will step down at the beginning of the next fiscal year, in ...