[Reference Translation]
May 11, 2022
To Whom It May Concern:
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| | Company Name: TOYOTA MOTOR CORPORATION Name and Title of Representative: Akio Toyoda, President (Code Number: 7203 Prime of Tokyo Stock Exchange and Premier of Nagoya Stock Exchange) Name and Title of Contact Person: Masayoshi Hachisuka, General Manager, Capital Strategy & Affiliated Companies Finance Div. (Telephone Number: 0565-28-2121) |
Notice Concerning the Determination of Matters Relating to
the Repurchase of Shares of Common Stock
(Repurchase of Shares under Articles of Incorporation pursuant to Article 165, Paragraph 2 of the Companies Act of Japan)
We hereby inform you that Toyota Motor Corporation (“TMC”) resolved at a meeting of the board of directors held on May 11, 2022 to repurchase shares of its common stock pursuant to Article 156 of the Companies Act of Japan (the “Companies Act”) as applied pursuant to Article 165, Paragraph 3 of the Companies Act.
| 1. | Reason for repurchasing shares |
TMC deems the benefit of its shareholders as one of its priority management policies, and it will continue to work to improve its corporate culture to realize sustainable growth in order to enhance its corporate value.
TMC will more flexibly repurchase its common stock than before while comprehensively considering factors such as its investment in growth, level of its dividends, its cash reserves and the price level of its common stock to promote its capital efficiency.
Specifically, TMC will set aside 100 billion yen out of the total purchase price of 200 billion yen to enable more flexible repurchase of shares of its common stock than before while comprehensively considering factors such as the price level of its common stock.
With a view to surviving tough competition and transitioning to a mobility company, TMC will utilize its internal funds mainly for its investment in growth for the next generation such as environmental technologies to achieve a carbon neutral society and safety technologies for the safety and security of its customers, and also for the stakeholders such as employees, business partners and local communities etc.
