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Toyota names CFO Kenta Kon president and CEO in leadership shake-up
TOKYO: Toyota Motor has announced a top leadership change, with chief executive Koji Sato stepping down and chief financial officer Kenta Kon set to take over as president and CEO from 1 April, marking the group’s second chief executive transition in three years.
Sato will move into the newly created roles of vice chairman and chief industry officer, where Toyota said he will focus on broader industry engagement and strategic positioning, while Kon takes charge of day-to-day management and operations.
Speaking after the announcement, Kon described the reshuffle as Sato becoming “captain of the national team” while he assumes the role of “club captain”. Sato said the shift would allow him to concentrate on his wider responsibilities as chairman of the Japan Automobile Manufacturers Association and vice chair of Keidanren, Japan’s powerful business lobby.
Executive vice president Yoichi Miyazaki will succeed Kon as CFO. Further board changes are planned for June 2026, when Kon will join as a director and Sato will step down from the board.
Alongside the leadership overhaul, Toyota raised its full-year operating profit forecast by 11.8 per cent, citing a weaker yen and cost reductions to offset pressure from US tariffs.
For the December quarter, sales revenue climbed 8.6 per cent year on year to 13.46 trillion yen ($85.8 billion), beating analyst expectations. Operating income slipped 2 per cent to 1.19 trillion yen but remained above market forecasts.
Shares rose about 1.5 per cent following the announcement. Toyota said electrified vehicles, including hybrids and electric vehicles, accounted for nearly half of its retail sales in the first three quarters of the fiscal year, driven by strong hybrid demand in North America and China, as the company pushes deeper into a more diversified mobility strategy.
