Toyota expands share buyback plan to reflect share drop
Business
Toyota had decided on May 8 to buy back up to 410 million shares
TOKYO (Reuters) – Toyota Motor on Tuesday 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.
Toyota had decided on May 8 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.
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