{"text":[[{"start":9.68,"text":"Toyota will launch a ¥1tn ($6.3bn) share buyback as the world’s biggest carmaker raised its annual outlook on the back of the weak yen and strong hybrid sales."}],[{"start":21.34,"text":"The Japanese company said on Tuesday that operating income fell by 8.8 per cent to ¥1.1tn in the three months to June 30, as higher costs and supply chain disruption due to the Middle East conflict take their toll on global carmakers."}],[{"start":36.48,"text":"However, Toyota said it now expected operating profit of ¥3.4tn for the current financial year to March 2027 — an increase of ¥400bn over previous estimates — boosted by the weak yen and “the establishment of alternative logistics routes to the Middle East”."}],[{"start":54.36,"text":"The improved guidance followed a similar move by General Motors and Ford, which also benefited from sales of higher-margin petrol and hybrid cars in the US."}],[{"start":63.56,"text":"Toyota said it was too early to factor in any impact from the earthquake that hit Japan last week that has affected some suppliers and automakers in Kyushu."}],[{"start":72.94,"text":"The group says it has factored in a value of ¥160 to the US dollar. It is currently trading at close to ¥157 after a series of interventions by Japan and the US in the foreign exchange market."}],[{"start":84.92,"text":"Toyota’s bottom line has also been supported by sales of its hybrid cars in the higher-margin US market."}],[{"start":91.36,"text":"The company said that North America had “returned to profitability, driven by factors such as the effects of price revisions, foreign exchange effects, and the decrease in US tariffs” in the period."}],[{"start":102.2,"text":"This year Toyota now expected to sell more than 5mn hybrid-electric vehicles for the first time. Despite that optimism, Toyota’s sales have fallen 2.9 per cent in the first half, compared with the same period in 2025, amid growing competition from Chinese rivals."}],[{"start":118.52,"text":"BYD’s founder and chief executive, Wang Chuanfu, recently announced a plan to topple Toyota as the world’s largest carmaker by sales within five years through rapid advances in charging technology and explosive overseas growth."}],[{"start":132.88,"text":"Toyota shares have fallen 14 per cent this year and by more than a quarter since peaking in March. The stock dipped another 2 per cent on Tuesday after results were released."}],[{"start":142.5,"text":"As its share price has fallen, Toyota temporarily lost its crown as Japan’s biggest company by market value, first to SoftBank and Kioxia as AI stocks boomed and more recently to megabank MUFG, boosted by rising interest rates, before claiming it once more."}],[{"start":166.56,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1785830256_2971.mp3"}