Toyota's stock price recorded its biggest increase in nearly four decades, after the automaker raised its annual profit expectations and increased shareholder returns due to strong demand for hybrid vehicles. The world's largest automaker said on Thursday that it would raise its operating profit forecast for the fiscal year ending March 2027 by 15% to 3.9 trillion yen. In the three months ending September 31, its profit increased 34% to reach 1.1 trillion yen, which was the first increase in six quarters. Coupled with an expanded share repurchase program, the optimistic outlook helped ease concerns about the Iran war and US tariffs. Toyota surged nearly 17% in the Tokyo stock market, the biggest one-day increase since 1987.

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