One problem related to axle shaft has been reported for the 1997 Toyota 4Runner. The most recently reported issues are listed below.
Driving in #1 lane of freeway when a stopped vehicle protruding into the lane necessitated me to take evasive action. I swerved to the right and avoided the car and then swerved back to the left to avoid car in lane to my right. At this point I felt the car get bumpy and I was unable to steer forward and was pulled to the left and into the center divider. The left rear wheel had snapped off the axle and the car was dragging on the pavement I was knocked unconscious and my left foot was broken.