Toyota Appoints Earnings Expert CFO Kenta Kon as New CEO, Q4 Profit Down 43%

Toyota reported a 43% drop in quarterly profit for October-December 2025, with group profit at 1.25 trillion yen ($8 billion), down from 2.19 trillion yen in the same period 2024. CFO Kenta Kon will replace outgoing CEO Koji Sato as president and CEO in April 2026, with shareholder approval expected in June. Kon, considered close to Chairman Akio Toyoda, is tapped for his expertise in improving earnings amid material cost inflation and the negative impact of U.S. tariffs, which erased 1.45 trillion yen ($9.2 billion) from operating profit in 2025. Toyota’s nine-month profit for December 2025 was 3.03 trillion yen ($19 billion), down 26% from 4.1 trillion yen, while global sales reached 7.3 million vehicles. The company reiterated its full fiscal year 2025 profit guidance of 3.57 trillion yen ($22.8 billion), down 25% year-over-year. Toyota shares rose 2% after the announcements.