Research analysts who have asked questions during TOYOTA MOTOR CORP/ earnings calls.
Recent press releases and 8-K filings for TM.
Toyota maintains top automaker position in 2025
TM
Revenue Acceleration/Inflection
Demand Weakening
- Toyota sold a record 11.3 million vehicles in 2025, marking a 4.6% increase and securing its position as the world's top-selling automaker for the sixth consecutive year.
- This sales growth was primarily driven by strong demand in the U.S. and Japan, robust sales of hybrids (accounting for approximately 42% of parent-brand sales), and contributions from Lexus and subsidiaries.
- Global production climbed approximately 5.7% year-on-year to roughly 11.22 million units in 2025, as Toyota recovered from prior certification and recall disruptions.
- U.S. tariff policy, including a 25% tariff on Japanese automobiles imposed in April 2025 (later reduced to 15% in September), weighed on Toyota's profitability.
- Battery-electric vehicles still represent a small share of parent-brand sales, making up about 1.9% of Toyota's global vehicle sales.
4 days ago
Toyota Industries Privatization Faces Activist Opposition from Elliott Management
TM
M&A
Takeover Bid
Proxy Vote Outcomes
- Toyota's plan to take Toyota Industries private with an offer of ¥18,800 per share, valuing the company at approximately $27.8 billion, is being challenged.
- Activist investor Elliott Investment Management, which holds 6.7% of Toyota Industries, argues the offer undervalues the company by about 40%.
- Elliott may need an additional 7% of votes to block the transaction by the Feb. 12 tender deadline, as passive index holders (about 19% of voting rights) could refuse to tender at the current price.
- The dispute is seen as a test of evolving corporate governance in Japan, with Elliott potentially increasing its stake or mounting a counterbid.
5 days ago
Elliott Opposes Toyota Industries Buyout
TM
M&A
Takeover Bid
- Elliott Investment Management is opposing the Toyota Group’s proposed ¥6.1 trillion ($39 billion) take-private of Toyota Industries, urging minority shareholders not to tender their shares.
- Elliott, now the largest minority investor with a stake above 5%, argues the revised offer of ¥18,800 per share significantly undervalues the company, estimating its intrinsic net asset value at approximately ¥26,000–¥26,134 per share.
- The hedge fund has proposed a standalone plan that it believes could lift Toyota Industries' valuation to more than ¥40,000 per share by 2028.
- Elliott warned that allowing the revised tender offer to succeed would negatively impact Japan’s corporate governance reforms and investor interest.
Jan 18, 2026, 11:33 PM
Toyota Motor Corporation Amends Share Repurchase Tender Offer Terms
TM
Share Buyback
M&A
New Projects/Investments
- Toyota Motor Corporation (TMC) has increased the maximum Tender Offer Price cap for its own shares from 2,691 yen (based on June 2, 2025) to 3,641 yen (based on January 13, 2026).
- This change revises the total purchase price for the share repurchase to up to 4,341,277,243,820 yen.
- The company plans to fund the repurchase from its own capital, with consolidated on-hand liquidity expected to be 3,771,627 million yen after the transaction, down from 8,112,922 million yen as of September 30, 2025.
- The maximum number of shares to be purchased remains 1,192,331,020 shares.
- Additionally, the total Contribution amount for non-voting preferred shares was increased from 706 billion yen to up to 800 billion yen.
Jan 14, 2026, 11:02 AM
Toyota Raises Tender Offer for Toyota Industries
TM
M&A
Takeover Bid
New Projects/Investments
- Toyota has increased its tender offer for Toyota Industries to ¥18,800 (about $118) per share, valuing the company at approximately ¥5.6 trillion (about $35 billion).
- The offer, driven by Toyota Motor and its real-estate arm Toyota Fudosan, aims to take Toyota Industries private to align long-term plans and deepen group collaboration, with an acceptance window from January 15 to February 12.
- Toyota boosted its funding commitment for the privatization to ¥800 billion.
- This revised bid follows activist investor Elliott's argument that the original proposal undervalued the business.
Jan 14, 2026, 8:16 AM
Toyota Motor North America Reports Strong 2025 U.S. Sales Results
TM
Revenue Acceleration/Inflection
New Projects/Investments
- Toyota Motor North America (TMNA) reported year-end 2025 U.S. sales of 2,518,071 vehicles, an 8.0 percent increase on a volume basis compared to 2024.
- Sales of electrified vehicles for TMNA in 2025 totaled 1,183,248, marking a 17.6 percent increase and representing 47.0 percent of total sales volume.
- The Lexus division recorded its best-ever full-year sales result in 2025, with sales up 7.1 percent on a volume basis.
- In 2025, Toyota launched its first U.S. battery plant in North Carolina, representing a nearly $14 billion investment and creating up to 5,100 American jobs.
Jan 5, 2026, 3:00 PM
Toyota Motor Corporation Reports First Half 2026 Financial Results
TM
Earnings
Legal Proceedings
- Toyota Motor Corporation reported a rise in total sales revenues to ¥24,630,753 million for the first half ended September 30, 2025, up from ¥23,282,450 million in the prior year period.
- For the first half ended September 30, 2025, operating income decreased to ¥2,005,692 million from ¥2,464,217 million, and net income attributable to Toyota Motor Corporation also declined to ¥1,773,426 million (EPS of ¥136.07) from ¥1,907,113 million (EPS of ¥142.15) in the same period last year.
- As of September 30, 2025, total assets were ¥97,574,878 million and total shareholders' equity was ¥38,456,954 million.
- The Department of Justice and the SEC concluded their anti-bribery investigations into a Thai subsidiary in June 2025.
Nov 28, 2025, 11:01 AM
Toyota Achieves Record Global Sales in October 2025
TM
Revenue Acceleration/Inflection
- Toyota Motor Corporation achieved record global sales of over 1 million vehicles in October 2025, marking a 3% year-over-year increase.
- This growth was primarily driven by strong demand in the U.S. market, which saw a 12% sales rise, largely due to the popularity of hybrid vehicles.
- Hybrid vehicles constituted 42% of Toyota's total sales in the first ten months of 2025, underscoring the company's focus on electrification.
- Despite overall growth, Toyota experienced sales declines of 6.6% in China and 4.2% in Japan during October.
- In the Philippines, Toyota recorded its best-ever monthly sales figure in October, selling 20,404 units and capturing over 50.99% of the market share.
Nov 26, 2025, 1:42 AM
Toyota announces $912 million investment for U.S. hybrid production expansion
TM
New Projects/Investments
Hiring
- Toyota is investing $912 million across five U.S. manufacturing plants to boost hybrid vehicle production and create 252 new jobs.
- This investment will increase hybrid capacity and introduce hybrid-electric Corollas to be assembled in the U.S. for the first time at the Mississippi plant.
- The plants receiving investments are located in West Virginia ($453 million), Kentucky ($204.4 million), Mississippi ($125 million), Tennessee ($71.4 million), and Missouri ($57.1 million).
- This initiative is part of Toyota's broader commitment to invest up to $10 billion in its U.S. operations over the next five years.
Nov 18, 2025, 1:00 PM
Toyota Begins U.S. Battery Production and Announces Further Investment
TM
New Projects/Investments
Hiring
Product Launch
- Toyota has commenced production at its new $13.9 billion battery plant in Liberty, North Carolina, which is its eleventh U.S. plant and the company's first battery plant outside of Japan.
- This facility is projected to create up to 5,100 new American jobs and will have an annual production capacity of 30 GWh at full capacity.
- The company also announced an additional U.S. investment of up to $10 billion over the next five years, bringing its total U.S. investment to nearly $60 billion since beginning operations nearly 70 years ago.
- Furthermore, Toyota's USA Foundation has committed an additional $2.7 million in education grants to local schools in Guilford County and the Asheboro City School District.
Nov 12, 2025, 3:00 PM
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