TOKYO (Reuters) - Toyota Motor on Tuesday increased its share buyback plan through April 30 to up to 1.2 trillion yen ($8.31 billion) from 1 trillion yen in view of the latest share price.

Toyota had decided on May 8 to buy back up to 410 million shares, or 3.04% worth of its outstanding shares excluding treasury shares.

The Japanese automaker's shares have plunged 27% since then, closing at 2,617 yen on Tuesday.

($1 = 144.3700 yen)

(Reporting by Chang-Ran Kim; Editing by Christopher Cushing)