Toyota’s Buyback Gives Back Very Little


Toyota Motor Corp. sure gave investors something to cheer. Too bad it didn’t give them much to line their pockets.

The Japanese automaker on Tuesday announced its net income rose 15.9 percent in the first half of the fiscal year. Unlike its peers, Toyota raised its forecast for the year and even managed to boost sales in China — a commendable effort for a late entrant to the world’s largest car market. The company’s shares rallied.

Add shareholder returns and who wouldn’t be happy? Toyota announced it would buy back as much as 250 billion yen ($2.2 billion) of its shares. Total shareholder returns for 2018 were just...READ MORE HERE