Toyota expands share buyback plan to reflect share drop

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September 24, 2024 4:00 AM EDT

FILE PHOTO: A man walks past a Toyota logo at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar Su/File Photo

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.

($1 = 144.3700 yen)

(Reporting by Chang-Ran Kim; Editing by Christopher Cushing)


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