Toyota appoints new CEO: Kenta Kon

Toyota named a new CEO to "accelerate" decision-making, the Japanese auto giant said Friday as it raised its profit and sales forecasts for the current fiscal year despite the impact of U.S. tariffs.

Current finance chief Kenta Kon will replace CEO Koji Sato on April 1 after three years in the role, the firm said.

"This change in roles is intended to accelerate management decision-making in response to changes in the internal and external environment," Toyota said.

The move will also help "establish a structure that will enable Toyota to fully carry out its mission of contributing to society through industry," it added.

The announcement came at a time when the company expects to post a net profit of 3.57 trillion yen ($22.8 billion) for the year ending March, down 25.1% from a year earlier, but higher than the 2.93 trillion yen previously forecast.

Despite the "negative impact of U.S. tariffs that newly arose this fiscal year, we have reduced the extent of the profit decline by implementing cost reductions and marketing efforts," Toyota said in a statement.

Record sales

The firm announced last month that global sales hit a new record in 2025, which will help it retain its title as the world's top automaker and widen the gap with German rival Volkswagen.

The overall increase came despite stagnant sales in China, a crucial market where Toyota faces increasingly intense competition from local automakers, including electric-car company BYD.

U.S. sales rose 8% despite a 25% tariff on Japanese auto exports imposed by Washington between April and mid-September, which comes on top of an existing 2.5% duty.