TOKYO -- Toyota Motor Corp. said on Monday it will buy back 16.8 million of its own shares for a total $601.7 million (64.85 billion yen) before the stock market opens on Tuesday.
The purchase, at Monday's closing price of 3,860 yen, will be made via the Nagoya Stock Exchange's after-hours trading system.
Toyota has shareholder permission to buy up to 65 million of its own shares, or up to 250 billion yen worth, during the 12-month period ending this month.
As of Monday, it had purchased about 43.46 million shares for 184.78 billion yen.
Many Japanese firms are buying some of their own shares partly to make them more attractive to investors by boosting per-share value.