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Toyota expands share buyback plan to reflect share drop

Toyota expands share buyback plan to reflect share drop

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: Toyota Motor on Tuesday increased its share buyback plan through Apr 30 to up to ¥1.2 trillion (US$8.31 billion) from ¥1 trillion 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 on Tuesday.

Source: Reuters

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