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Benzinga

Business

Shivani Kumaresan

Toyota Stock Gains On New Buyback Plan

Toyota TM Toyota Motor Corp

Toyota Motor Corp (NYSE:TM) Board of Directors has authorized ¥100 billion to repurchase up to 80 million shares, representing 0.58% of issued shares, excluding treasury stock.
The shares buyback plan will commence on March 24, 2022, and is valid until May 10, 2022.
The company disclosed in a regulatory filing that it is adopting the program to promote capital efficiency.
Toyota held ¥5.8 trillion in cash and equivalents as of December 31, 2021.
Price Action: TM shares are trading higher by 2.42% at $177.00 in premarket on the last check Wednesday.

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