According to CoinMeta, Toyota Motor Corporation announced a share repurchase plan worth 1 trillion yen (about $6.3 billion) and raised its annual profit forecast. The world's largest automobile manufacturer, Toyota, has raised its operating profit forecast for the fiscal year ending March next year by more than 10% to 3.4 trillion yen, although analysts on average expect it to be 3.9 trillion yen. Toyota has benefited from the continued strong demand in the U.S. market for hybrid electric vehicles. In addition, the weakening of the yen in the first half of the year also provided a buffer for the company, allowing it to partially withstand the surge in raw material costs and the disruptions to the supply chain caused by the Iran war. Toyota has also raised its sales forecast from the previous 51 trillion yen to 54 trillion yen.