Toyota Motor Corp. shareholders approved on Wednesday proposals by the firm to launch a stock buyback scheme and a stock option incentive plan.
Toyota's annual shareholders' meeting went smoothly as the automaker posted robust earnings in the 2001 business year.
In May, the nation's top automaker reported that its group pretax profits had risen 14.5 percent to a record 1.114 trillion yen in 2001, becoming the first Japanese firm ever to post pretax profits of 1 trillion yen.
Commenting on these results, Toyota Motor President Fujio Cho attributed them to the "achievements of management efforts of the group as a whole, including dealers and parts makers."