The reason for the recall is to replace bad intermediate shafts and sliding yokes.  Some of the models affected are the wish, Isis, and the Prius.  A few others will be recalled as well but the focus is on cars manufactured in the last three years.  

So far, there has not been any reported accidents where the cause was due to the defects in question.  That is good news, and it is good to see Toyota fixing this problem.  It will probably cost them a pretty penny, but we won’t know how much for sure; because, Toyota does not release those numbers to the public.