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Toyota plans biggest stock buyback in over a decade

At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It's the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares.
Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation's initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders.
Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.

Toyota confirms i-Road electric trike for production

The wacky, three-wheeled Toyota i-Road we saw in Geneva earlier this year will be heading to production. But before you run down to your local Toyota dealer looking for one of these all-electric "personal mobility" vehicles, chances are, you'll never actually see one unless you visit Japan.
Announced at the Combined Exhibition of Advanced Technologies (CEATEC) expo last week, Toyota said that the i-Road would be used as a part of the Ha:Mo car-sharing system in Japan. Weighing in at around 661 pounds, with a 28-mile-per-hour top speed and a two-passenger seating arrangement, the i-Road seems more like a fully enclosed scooter than a car, but it does offer a 30-mile driving range and has a nifty articulating front suspension that leans into corners. As for Ha:Mo, Toyota says that the number of cars in the program will increase from 10 prior to October 1 to 100 by the middle of this month, and the number of stations will almost double from 13 up to 21. Toyota has more details about the car and Ha:Mo in the press release posted below.

Toyota MR2 shows why we still love the 1990s

Was there a better time for Japanese performance than the 1980s and 1990s? It seems like looking back, Japan was on a roll, producing cars that were affordable, economical, reliable, fast and lightweight. And while all the attention is - thanks to a certain film series - focused on cars like Toyota Supra and Mazda RX-7, there is a lesser-known model that's establishing its own enduring legacy without the help of Paul Walker and Vin Diesel.
The MR2, affectionately known as the "Mister Two" to fanboys, first arrived in 1984 as a lightweight, mid-engined sports car that proceeded to eat the lunch of the Pontiac Fiero in terms of performance. That car was replaced in 1989 with the more familiar, rounded-out MR2, which is the subject of this latest video from the team at Petrolicious.
The video takes a look at a group of MR2 drivers, and attempts to explain what it is about the car that is destined to make it a future classic. Scroll down to see Petrolicious examine the MR2 Connection.