India, May 9 -- Toyota Motor Corp. gave a tepid outlook after recent scandals forced it to cut production, overshadowing a surge in hybrid sales that boosted profit to a record last year.

The company forecast operating income to decline around 20% to Euro4.3 trillion ($29 billion) in the fiscal year through March 2025, falling short of the market's consensus forecast of Euro5.3 trillion. For the previous year, it posted an operating profit of Euro5.4 trillion, which was the highest ever for a Japanese company according to local media.

Toyota also said it plans to buy back up to Euro1 trillion - or around 3% - of its shares, an announcement which helped limit a fall in the stock price. The shares, which had risen 37% since the start of t...