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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.

Audi outlasts rivals to win 13th Le Mans title

As is so often the case, the 2014 Le Mans was a war of attrition, and Audi managed to prevail once again after all 24 hours had been recorded in the history books, with its Audi R18 E-Tron Quattro claiming first and second places, followed by Toyota in third. Drivers Marcel Fassler, Andre Lotterer and Benoit Treluyer inherited the lead in their No. 2 Audi after the No. 7 Toyota, driven by pole-sitter Kazuki Nakajima, was forced to retire with electrical problems in the 15th hour.
The No. 2 Audi led the race until it was forced to the pits to replace a turbocharger in the 17th hour, allowing the No. 1 Audi, driven by Lucas di Grassi, Marc Gene (who was a last-minute replacement for Loic Duval, who crashed hard during practice) and defending champion Tom Kristensen, led the race until the 21st hour, when it too had to pit with turbocharger issues. This gave the No. 20 Porsche of Timo Bernhard, Brendon Hartley, and Mark Webber the lead until it was forced off the track with gearbox problems, eventually finishing in 38th position.
In LMP2, the Jota Sport Zytek Z11SN-Nissan driven by Simon Dolan, Harry Tincknell and Oliver Turvey claimed victory, the first five LMP2 finishers all powered by Nissan. Down a level in GTE-Pro, No. 51 AF Corse Ferrari 458 Italia GT2 driven by Gianmaria Bruni, Toni Vilander and Giancarlo Fisichella finished one lap ahead of the leading Corvette Racing C7.R. And finally, the No. 95 Aston Martin Racing Vantage GTE driven by Kristian Poulsen, David HeinemeierHansson and Nicki Thiim won the GTE-Am race two laps ahead of a Proton Porsche 911 GT3 RSR.

Toyota's Psy-style Waku-Doki ad inherits Japan's bizarre ad crown

A new Japanese Toyota ad featuring crisply suited businessmen driving into the jungle only to segue into a Psy-style music-video dance-off with a gorilla and natives is the latest car commercial to go viral. Jungle Wakudoki is the newest installment in a grand tradition of bizarre ads from the island nation that are by turns hilarious, head-scratching and occasionally even frightening.
Let's face it: My people are weird.
I'm half-Japanese and take suitable pride in my Asian roots, but even I can't figure out what's been slipped into the water coolers of the country's ad agencies much of the time - or the nation at large, for that matter. From Japan's ubiquitous obsession with all things adorable (kawaii) to its offbeat sense of humor and its bizarrely perverse and violent tentacle porn, it's clear there's a lot going on in the culture, and only some of it bubbles up to the surface in its marketing efforts. Much of the strangest and most amazing ads are for non-transportation products (e.g. laundry soap, snacks, energy drinks), but the automotive space has its fair share. This latest Toyota ad had me trawling YouTube for a common theme, trying to make sense of why these spots are the way they are. Scroll down to watch the Toyota ad in question as well as a bunch of other examples of Japan's most bizarre car-related ads and see if you can't find the thread that runs between them. Is it just that something's being lost in translation? Have your say in Comments.