Toyota Motor Corporation ( TM ) shares are trading lower on Tuesday. The company disclosed that it has increased its share buyback plan to up to 1.2 trillion yen ($8.31 billion) from 1 trillion yen.

The company aims to repurchase up to 530 million shares, or 3.93% of its outstanding shares, excluding treasury shares.

The duration of the share buyback remains the same, from May 9, 2024, to April 30, 2025. The automaker’s move reflects the current stock price level and other factors.

Notably, the company resolved to increase the maximum limit for share repurchases. If shares are repurchased through the Tokyo Stock Exchange’s off-auction system, the remaining limit from the May 8 decision will be 115.5 billion yen (90 million shares).

With this increase, Toyota ( TM ) can now repurchase up to 315.5 billion yen (210 million shares).

In July, the company disclosed plans to repurchase ¥806.8 billion ($5.2 billion) of its shares from key Japanese banks and insurers.

The move is part of a broader strategy to untangle its shareholdings with financial partners.

This month, Toyota Motor ( TM ) reportedly trimmed its 2026 EV production target by 30% to 1 million cars due to a slowdown in global demand.

Investors can gain exposure to the stock via Trust for Professional Managers ActivePassive International Equity ETF and Avantis International Large Cap Value ETF ( AVIV ) .

Price Action: TM shares are down 0.63% at $184.24 at the last check Tuesday.

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