Toyota Shares Gain for Second Day After Report on ROE Target

Toyota Motor Corp. shares climbed for their biggest two-day advance since August on expectations of a higher return-on-equity following a report the Japanese automaker is planning to double its target.

The stock gained 6% in Tokyo, capping an 11%, two-day gain. Shares advanced on Wednesday after the Nikkei newspaper reported the company plans to increase its ROE to 20%, citing an unidentified executive. A spokesperson said that Toyota “doesn’t have an explicit target or deadline” for ROE.