The car's specifications have been leaked on an online forum and suggest the S-FR will be powered by a 1.5-litre four-cylinder petrol engine producing 128bhp and 109lb ft of torque. The engine will be coupled to a six-speed manual transmission, with no automatic option available. The car should be capable of returning up to 55mpg, and weighs just 980kg.
By comparison, the entry-level Mazda MX-5 is powered by a 129bhp 1.5-litre petrol engine, allowing it to reach 62mph in 8.3 seconds, with a top speed of 127mph.
The S-FR concept is described as being a 'fun-to-drive lightweight sports car' and is pitched as an entry-level model, which means any production variant would sit underneath the current GT86. Its dimensions make the S-FR significantly shorter, narrower and lower than the current GT86, with a smaller wheelbase.
Toyota says the front-engined, rear-wheel-drive coupé offers 'smooth, responsive and direct handling that gives a real sense of communication between car and driver.' The concept has been envisioned with future tuning and customisation in mind and features a pared-back interior with a digital instrument cluster and very few buttons inside.
If the S-FR makes it to production, it will give Toyota a three-strong sports car line-up, sitting alongside the current GT86 and the planned Supra successor - which is currently being co-developed with BMW. The leaked specifications suggest a price of around $12,500 for the S-FR in Japan. It's currently unknown whether the car would come to the UK.
Get the latest car news, reviews and galleries from Autocar direct to your inbox every week. Enter your email address below: