Japan's Toyota Motor raised its full-year operating profit forecast by 9% on Wednesday, in a sign of confidence in its ability to ride out the impact of any potential U.S. tariffs. The world's top-selling automaker raised its profit forecast for the current year through March 2025 to 4.

Toyota Motor Corp. raised its annual operating profit outlook even though quarterly income fell short of estimates due to a downturn in global sales and production, indicating that it sees activity picking up at a faster pace later.

Toyota Motor sold 10.8 million vehicles globally in 2024, retaining its position as the world’s biggest carmaker.

Toyota Motor raised its full-year operating profit forecast by 9% on Wednesday, in a sign of confidence in its ability to ride out any potential U.S. tariffs.