What is system/bin and system/xbin in android M?
the -&gt; indicates this is a symbolic link. That's how Busybox (and similar apps) work, so other processes can refer to them by the "full fledged name" of the component they need to call.
There are different "busyboxes". The original Busybox has a binary called busybox – yours has a binary called toybox. That won't matter if one of those symlinks is addressed – but if some process tries to call busybox directly, it of course cannot find it if it's not there. To work around that, you could create another symlink to toybox: ln -s /system/bin/toybox /system/bin/busybox (in order to do that you need root and mount the /system partition read/write).