Toyota Motor Corporation (TM)

Outperform Recap: Q1 FY27

Both Conditions Met: North America Earns ¥185.4bn, the Middle East Shock Is Halved by Logistics, and Toyota Finally Buys Its Own Stock

Hold Recap: Q4 FY26

A 30% Miss With the Currency at Its Best: North America Loses ¥287.5bn, the Break-Even Target Is Refused, and Toyota Guides a Third Straight Down Year

Hold Recap: Q3 FY26

North America Is Profitable Again and the CFO Is the New CEO: Toyota Delivers the Operational Trigger, and the Currency Delivers the Guidance Raise

Hold Recap: Q2 FY26

North America Goes Red and Break-Even Volume Hits a Decade High: Toyota's Guidance Raise Is an FX Story, Not an Earnings Story