Toyota expands share buyback programme to reflect share drop

Toyota Motor (7203.T) 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 per cent worth of its outstanding shares excluding treasury shares.

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