According to the SupraMKV forum, Toyota has recently registered the name S-FR. The application was filed on May 28, but the name alone doesn’t mean that it will someday be applied to a car. Trademarks are often filed for things that never see use, just in case— although this one makes sense. It’s a flip of the Scion FR-S so the ‘FR’ could be front engine, rear-wheel drive while the ‘S’ could stand for, yes, Supra.
It’s rumored that this new Supra or S-FR will look a lot like the FT-1 concept that awed everyone at the 2014 Detroit Auto Show. That would not be a bad looking car at all no matter what they call the thing.
The powertrain is the big question mark with reports of a possible hybrid making the rounds. Toyota kind of has a thing for hybrids, but a turbocharged engine is an equally viable possibility. Nothing official is out there yet so we will all have to wait on this Supra/S-FR to make its debut.