So this looks a lot like the FT1 concept vehicle they displayed years ago, and apparently there is a non-racing version of the Supra coming. This car is called the GR Supra Racing Concept and was unveiled at the Geneva Motor Show, and they made their intentions obvious:
"Yes, the Supra is returning. This concept is a clear signal of our intentions to bring back one of our most legendary sports cars to the market. This baby, developed by Toyota Gazoo Racing, is a thoroughbred designed for the race track. The best way of taking our Supra into a new era. It has been made light, compact and of course fast. I think you will agree, it looks amazing."
Watch the live stream of the event here, skip to 14:00: