Toyota appoints new CEO and faces activist pressure while raising profit outlook

Toyota is changing its leadership, with Chief Financial Officer Kenta Kon being appointed as the new CEO. The company also raised its full-year operating profit forecast by 11.8%, expecting sales to reach a record 50 trillion yen.

At the same time, the activist investment firm Elliott is pressuring Toyota to raise its $34 billion offer to take Toyota Industries private, but Toyota says it has no intention of increasing the price. The company's profit has been impacted by costs and tariffs, with one report linking a $9 billion hit to tariffs from the Trump administration.