Toyota Boosts Share Buyback Program: Details Here
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 24 2024
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Source: Benzinga
Share Buyback Plan: Toyota has increased its share buyback plan to 1.2 trillion yen ($8.31 billion), aiming to repurchase up to 530 million shares, or 3.93% of its outstanding shares, with the buyback period set from May 9, 2024, to April 30, 2025.
Production Target Adjustment: The company has reduced its 2026 electric vehicle production target by 30% to 1 million cars due to a slowdown in global demand, while its shares are currently down 0.63% at $184.24.
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About TM
Toyota Motor Corp is a Japan-based company mainly engaged in the automotive business, as well as financial services and other businesses. It operates through three business segments. The Automotive segment designs, manufactures, and sells automobiles, including sedans, minivans, compact cars, sport utility vehicles (SUVs), and trucks, as well as related parts and accessories. The Financial Services segment provides financing and vehicle leasing services to complement the sales of automobiles and other products manufactured by itself and its affiliates. The Other segment engages in information and communications services. It also oversees manufacturing and sales companies, conducts public relations and research activities, oversees financial companies, and develops various mobility products, primarily software.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
