Toyota Expands Share Buyback Plan to Counter Falling Share Prices

TOKYO – On Tuesday, Toyota Motor (NYSE: TM) increased its share buyback plan through April 30 to up to 1.2 trillion yen ($8.31 billion) from 1 trillion yen in view of the latest share price.

On May 8, Toyota decided to buy back up to 410 million shares, or 3.04% worth of its outstanding shares excluding treasury shares.

The Japanese automaker’s shares have plunged 27% since then, closing at 2,617 yen on Tuesday.

($1 = 144.3700 yen)

(Source: ReutersReuters)

NYSE: TM Toyota

Mary Lee

Mary Lee is a freelance writer and journalist based in Toronto, Canada. She holds an M.S. degree in business and economic journalism from Columbia University’s Graduate School of Journalism in New York and a certificate in digital marketing from the University of Toronto.

See Full Bio