Toyota shares soared Thursday after Nikkei reported the company aims to double its return on equity target to 20%, citing an unnamed executive.

U.S.-traded shares of Toyota Motor surged Thursday following a report from Nikkei that the carmaker is aiming for a 20% return on equity.

Toyota Motor Corp. surged nearly 9% in Thursday’s premarket trading on the NYSE, driven by reports of the company’s ambitious plan to double its return on equity (ROE) target to 20% by March 2025. If gains hold,

Honda's U.S.-listed shares popped Monday morning after the Japanese automaker and Nissan announced plans to merge in 2026.

The proposed deal aims to unify operations under a joint holding company, led by Honda, while maintaining the distinct identities of each brand, according to Honda's president, Toshihiro Mibe. If finalized, the merger would position the combined entity to better compete with market leaders Toyota and Volkswagen.

Japan’s second- and third-largest automakers hope the $50 billion deal would help them catch up with Tesla and China’s BYD in electric vehicles and advanced software.