Toyota Raises Buyback to ¥1.2 Trillion, Citing Share Levels
- Stock is up 1% this year, after retreating from March peak
- Carmaker seeing robust sales, profit in North America
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Toyota Motor Corp. bumped up the size of its share buyback to ¥1.2 trillion ($8.3 billion) as the world’s largest carmaker enjoys strong demand in its main markets of Japan, Europe and North America.
The Japanese manufacturer added ¥200 billion to a ¥1 trillion stock repurchase plan announced in May, according to an exchange filing Tuesday. That means the company will likely buy back as much as 3.93% of its shares. The decision was based on “recent share price levels,” the company said.