Toyota will buy back $1.8 billion worth of its stock
The automaker posted record sales and net profit for H1 2019
Stocks impacted: Toyota Motor Corp (7203)
Japan’s company posted a 14% rise in operating profit to 662.3 billion yen for the three months ended September (the strongest second-quarter earnings since 2015), from 579.1 billion yen a year ago. Group sales totaled 15 trillion yen, or about 140 billion dollars, up 4.2% from the same period last year. By the way, sales rose in all regions, while domestic market showed a double-digit growth. Citing strong quarterly results, Toyota unveiled a buy back up to $1.8 billion worth of its common stock, or 34 million shares, through end-March. The company’s shares gained over 1% on the news as investors cheered positive results and a buy back plan.
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