3rd Quarter Results 5/6

Toyota Motor Corporation
07 February 2006



                               FINANCIAL SUMMARY

   (All financial information has been prepared in accordance with accounting
         principles generally accepted in the United States of America)

                              FY2006 Third Quarter
                  (October 1, 2005 through December 31, 2005)

        English translation from the original Japanese-language document


                         TOYOTA MOTOR CORPORATION

       This report contains summarized and condensed financial statements
   prepared in accordance with accounting principles generally accepted in the
                        United States of America.

          
                              BUSINESS RESULTS

   (All financial information has been prepared in accordance with accounting
         principles generally accepted in the United States of America)


1. Summary of Consolidated Financial Results of FY2006 Third Quarter


Financial Results

Total consolidated vehicle sales in Japan and overseas increased by 141 thousand
units, or 7.6%, to 1,980 thousand units in FY2006 third quarter (the three-month
period from October 1, 2005 to December 31, 2005) compared with FY2005 third
quarter (the three-month period from October 1, 2004 to December 31, 2004).
Vehicle sales in Japan in FY2006 third quarter reached 571 thousand units,
continuing to maintain a high level, following the 573 thousand units in the
same period of the previous year, due to the active introduction of new products
that met customer needs and the strong sales efforts of domestic dealers.
Meanwhile, overseas vehicle sales increased by 143 thousand units, or 11.3%, to
1,409 thousand units in FY2006 third quarter compared with FY2005 third quarter,
because sales in North America, Asia and other regions steadily increased.

Net revenues increased by 689.3 billion yen, or 14.8%, to 5,333.3 billion yen in
FY2006 third quarter compared with FY2005 third quarter, and operating income
increased by 59.3 billion yen, or 14.0%, to 482.2 billion yen in FY2006 third
quarter compared with FY2005 third quarter.  Among the factors contributing to
the increase in operating income totaling 220.0 billion yen, the effects of
changes in exchange rates accounted for 130.0 billion yen, marketing efforts for
60.0 billion yen and cost reduction efforts for 30.0 billion yen.  On the other
hand, factors resulting in the decrease in operating income mainly included a
decrease in the gains recognized on the transfer of the substitutional portion
of the employee pension fund to the government of 28.5 billion yen and increases
in expenses of 132.2 billion yen.  Income before income taxes, minority interest
and equity in earnings of affiliated companies increased by 192.8 billion yen,
or 43.1%, to 639.9 billion yen in FY2006 third quarter compared with FY2005
third quarter.  Net income increased by 101.0 billion yen, or 34.1%, to 397.5
billion yen in FY2006 third quarter compared with FY2005 third quarter.


2. Consolidated Financial Results of FY2006 Third Quarter by Segment

(1) Segment Operating Results

Automotive:

Net revenues for the automotive operations increased by 621.6 billion yen, or
14.5%, to 4,900.0 billion yen in FY2006 third quarter compared with FY2005 third
quarter, and operating income increased by 71.8 billion yen, or 20.2%, to 427.3
billion yen in FY2006 third quarter compared with FY2005 third quarter.  The
increase in operating income was mainly due to the effects of changes in
exchange rates, increases in both production volume and vehicle units sold and
the effects of cost reduction efforts, partially offset by a decrease in the
gains recognized on the transfer of the substitutional portion of the employee
pension fund to the government and increases in expenses.


Financial services:

Net revenues for the financial services operations increased by 65.9 billion
yen, or 33.6%, to 262.0 billion yen in FY2006 third quarter compared with FY2005
third quarter, while operating income decreased by 11.9 billion yen, or 20.2%,
to 46.8 billion yen in FY2006 third quarter compared with FY2005 third quarter.
The decrease in operating income was mainly because of the gain in FY2005 third
quarter to record prior-year adjustments relating to accounting for loan
origination costs in accordance with the Statement of Financial Accounting
Standards ('FAS') No.91 by a sales finance subsidiary in the United States of
America, as well as the valuation losses on interest rate swaps stated at fair
value in accordance with FAS No. 133 as amended by several guidance including
FAS No.138, despite a steady increase in financing volumes.


All other:

Net revenues for all other businesses increased by 46.6 billion yen, or 19.2%,
to 289.9 billion yen in FY2006 third quarter compared with FY2005 third quarter,
and operating income increased by 0.5 billion yen, or 4.9%, to 11.5 billion yen
in FY2006 third quarter compared with FY2005 third quarter.

(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)


(2) Geographic Information

Japan:

Net revenues in Japan increased by 357.5 billion yen, or 11.8%, to 3,375.8
billion yen in FY2006 third quarter compared with FY2005 third quarter, and
operating income increased by 43.8 billion yen, or 18.4%, to 281.1 billion yen
in FY2006 third quarter compared with FY2005 third quarter.  The increase in
operating income was mainly due to the effects of changes in exchange rates and
the effects of cost reduction efforts, partially offset by a decrease in the
gains recognized on the transfer of the substitutional portion of the employee
pension fund to the government and increases in expenses.


North America:

Net revenues in North America increased by 431.3 billion yen, or 27.0%, to
2,027.0 billion yen in FY2006 third quarter compared with FY2005 third quarter,
and operating income was 127.8 billion yen in FY2006 third quarter, remaining at
the same level as in FY2005 third quarter.  This was mainly due to solid
performance as a result of increases in both local production volume and vehicle
units sold, as well as cost reduction efforts, partially offset by the valuation
losses on interest rate swaps stated at fair value and the gain on prior-year
adjustments recorded in FY2005 third quarter relating to accounting for loan
origination costs by a sales financing subsidiary in the United States of
America.


Europe:

Net revenues in Europe increased by 34.8 billion yen, or 5.5%, to 666.6 billion
yen in FY2006 third quarter compared with FY2005 third quarter, and operating
income was 26.6 billion yen in FY2006 third quarter, remaining at the same level
as in FY2005 third quarter.


Asia:

Net revenues in Asia increased by 103.3 billion yen, or 26.0%, to 501.0 billion
yen in FY2006 third quarter compared with FY2005 third quarter, and operating
income increased by 13.5 billion yen, or 53.8%, to 38.6 billion yen in FY2006
third quarter compared with FY2005 third quarter.  The increase in operating
income was mainly due to substantial increases in both local production volume
and vehicle units sold, which resulted from the favorable sales of IMV series
vehicles.


Others:

Net revenues in other markets increased by 118.2 billion yen, or 39.6 %, to
416.4 billion yen in FY2006 third quarter compared with FY2005 third quarter,
and operating income increased by 6.3 billion yen, or 74.4%, to 14.7 billion yen
in FY2006 third quarter compared with FY2005 third quarter. The increase in
operating income was primarily due to increases in local production volumes and
vehicle units sold, mainly IMV series vehicles.


3. Other

Toyota received common shares of the Mitsubishi UFJ Financial Group, Inc.
because of the merger between Mitsubishi Tokyo Financial Group, Inc., and UFJ
Holdings, Inc. on October 1, 2005 in exchange for shares of UFJ Holdings Inc.,
which Toyota had held.  As a result of this transaction, in accordance with
accounting principles generally accepted in the United States of America, Toyota
has recorded a gain of 143.3 billion yen, which is a difference between
acquisition costs of prior-merger shares and the fair market value of
post-merger shares, as 'Other income, net' in the third quarter of the FY2006.


                        CONSOLIDATED PRODUCTION AND SALES

   (All financial information has been prepared in accordance with accounting
         principles generally accepted in the United States of America)


1. Production

                                                                                                          (Units)
                                            FY2006 third quarter     FY2005 third quarter               Increase
                                           (October 2005 through    (October 2004 through              (Decrease)
                                                  December 2005)           December 2004)
Vehicles  Japan                                        1,177,166                1,115,453                  61,713
(new)       North America                                284,848                  271,223                  13,625
            Europe                                       147,104                  155,625                 (8,521)
            Asia                                         216,727                  189,607                  27,120
            Others                                        88,720                   73,952                  14,768
            Overseas total                               737,399                  690,407                  46,992
          Total                                        1,914,565                1,805,860                 108,705

Houses (Japan)                                             1,347                    1,414                    (67)

Note:   The total production of vehicles (new) includes 197,130 units of
Daihatsu brand vehicles (including OEM production) in FY2006 third quarter, and
185,727 units in FY2005 third quarter, and 25,056 units of Hino brand vehicles
in FY2006 third quarter, and 23,560 units in FY2005 third quarter.


2. Sales (by destination)

                                                                                                          (Units)
                                           FY2006 third quarter     FY2005 third quarter                Increase
                                          (October 2005 through    (October 2004 through               (Decrease)
                                                  December 2005)           December 2004)

Vehicles  Japan                                          571,162                  573,115                 (1,953)
(new)       North America                                642,765                  576,113                  66,652
            Europe                                       245,960                  249,275                 (3,315)
            Asia                                         217,026                  194,744                  22,282
            Others                                       303,179                  246,248                  56,931
            Overseas total                             1,408,930                1,266,380                 142,550
          Total                                        1,980,092                1,839,495                 140,597
Houses (Japan)                                             1,307                    1,443                   (136)

Note:   The total sales of vehicles (new) includes 165,845 units of Daihatsu
brand vehicles in FY2006 third quarter, and 168,067 units in FY2005 third
quarter, and 24,803 units of Hino brand vehicles in FY2006 third quarter, and
22,821 units in FY2005 third quarter.



                       CONSOLIDATED STATEMENTS OF INCOME

   (All financial information has been prepared in accordance with accounting
         principles generally accepted in the United States of America)


                                                        (Amounts are rounded to the nearest million yen)
                                            FY2006 third quarter    FY2005 third quarter                Increase
                                           (October 2005 through   (October 2004 through               (Decrease)
                                                   December 2005)          December 2004)

Net revenues :                                         5,333,387               4,644,062                 689,325
          Sales of products                            5,076,632               4,452,224                 624,408
          Financing operations                           256,755                 191,838                  64,917
Costs and expenses :                                   4,851,176               4,221,162                 630,014
          Cost of products sold                        4,132,935               3,687,929                 445,006
          Cost of financing operations                   159,311                  86,994                  72,317
          Selling, general and                           558,930                 446,239                 112,691
administrative
Operating income                                         482,211                 422,900                  59,311
Other income (expense) :                                 157,763                  24,288                 133,475
          Interest and dividend income                    22,616                  18,324                   4,292
          Interest expense                               (5,100)                 (4,540)                   (560)
          Other income, net                              140,247                  10,504                 129,743
Income before income taxes, minority                     639,974                 447,188                 192,786
interest and equity in earnings of
affiliated companies
Provision for income taxes                               259,286                 173,004                  86,282
Income before minority interest and                      380,688                 274,184                 106,504
equity in earnings of affiliated
companies
Minority interest in consolidated                       (28,984)                (16,912)                (12,072)
subsidiaries
Equity in earnings of affiliated                          45,870                  39,261                   6,609
companies
Net income                                               397,574                 296,533                 101,041



                                                                                                           (Yen)
Net income per share - Basic                              122.22                   90.35                   31.87
Net income per share - Diluted                            122.17                   90.33                   31.84





                          CONSOLIDATED BALANCE SHEETS

   (All financial information has been prepared in accordance with accounting
         principles generally accepted in the United States of America)




                                                              (Amounts are rounded to the nearest million yen)
                                             FY2006 third quarter                  FY2005               Increase
                                              (As of December 31,   (As of March 31, 2005)             (Decrease)
                                                             2005)
                 Assets
Current assets :                                       10,121,906               9,440,105                681,801
     Cash and cash equivalents                          1,462,157               1,483,753               (21,596)
     Time deposits                                         53,694                  63,609                (9,915)
     Marketable securities                                627,727                 543,124                 84,603
     Trade accounts and notes                           1,503,323               1,616,341              (113,018)
receivable, less allowance for doubtful
accounts
     Finance receivables, net                           3,412,257               3,010,135                402,122
     Other receivables                                    455,630                 438,676                 16,954
     Inventories                                        1,549,685               1,306,709                242,976
     Deferred income taxes                                495,895                 475,764                 20,131
     Prepaid expenses and other current                   561,538                 501,994                 59,544
assets
Noncurrent finance receivables, net                     4,809,418               3,976,941                832,477
Investments and other assets                            5,874,754               5,122,371                752,383
Property, plant and equipment :                         6,739,121               5,795,594                943,527
     Land                                               1,206,934               1,182,768                 24,166
     Buildings                                          3,107,071               2,935,274                171,797
     Machinery and equipment                            8,295,485               7,897,509                397,976
     Vehicles and equipment on operating                2,454,429               1,828,697                625,732
leases
     Construction in progress                             347,570                 214,781                132,789
     Less - Accumulated                                (8,672,368)             (8,263,435)              (408,933)
depreciation
              Total assets                             27,545,199              24,335,011              3,210,188


   (All financial information has been prepared in accordance with accounting
         principles generally accepted in the United States of America)




                                                             (Amounts are rounded to the nearest million yen)
                                             FY2006 third quarter                  FY2005               Increase
                                              (As of December 31,   (As of March 31, 2005)             (Decrease)
                                                             2005)
              Liabilities
Current liabilities :                                   9,458,244               8,227,206              1,231,038
     Short-term borrowings                              2,976,732               2,381,827                594,905
     Current portion of long-term debt                  1,738,202               1,150,920                587,282
     Accounts payable                                   1,767,237               1,856,799               (89,562)
     Other payables                                       692,359                 693,041                  (682)
     Accrued expenses                                   1,375,469               1,289,373                 86,096
     Income taxes payable                                 227,631                 292,835               (65,204)
     Other current liabilities                            680,614                 562,411                118,203
Long-term liabilities :                                 7,336,029               6,557,926                778,103
     Long-term debt                                     5,554,373               5,014,925                539,448
     Accrued pension and severance costs                  675,483                 646,989                 28,494
     Deferred income taxes                              1,025,222                 811,670                213,552
     Other long-term liabilities                           80,951                  84,342                (3,391)
           Total liabilities                           16,794,273              14,785,132              2,009,141

   Minority interest in consolidated                      556,428                 504,929                 51,499
              subsidiaries

          Shareholders' equity
     Common stock                                         397,050                 397,050                     -
     Additional paid-in capital                           495,420                 495,707                  (287)
     Retained earnings                                 10,055,702               9,332,176                723,526
     Accumulated other comprehensive                      404,160                (80,660)                484,820
income (loss)


     Treasury stock, at cost                          (1,157,834)             (1,099,323)               (58,511)
       Total shareholders' equity                      10,194,498               9,044,950              1,149,548
Total liabilities and shareholders'                    27,545,199              24,335,011              3,210,188
equity



                              segment information

   (All financial information has been prepared in accordance with accounting
         principles generally accepted in the United States of America)



1.  Segment Operating Results

(1) FY2006 third quarter (October 2005 through December 2005)


                                                                (Amounts are rounded to the nearest million yen)
                                 Automotive         Financial       All Other      Intersegment      Consolidated
                                                    Services                        Elimination
Net revenues :
(1)   Sales to external          4,894,457           256,755          182,175                -          5,333,387
customers
(2)   Intersegment sales             5,596             5,316          107,748         (118,660)                 -
and transfers
         Total                   4,900,053           262,071          289,923         (118,660)         5,333,387
Operating expenses               4,472,756           215,219          278,367         (115,166)         4,851,176
Operating income                   427,297            46,852           11,556           (3,494)           482,211





(2) FY2005 third quarter (October 2004 through December 2004)


                                        (Amounts are rounded to the nearest million yen)
                                 Automotive         Financial        All Other       Intersegment      Consolidated
                                                    Services                          Elimination
Net revenues :
(1)   Sales to external          4,274,698           191,838          177,526                -          4,644,062
customers
(2)   Intersegment sales             3,777             4,308           65,775          (73,860)                 -
and transfers
         Total                   4,278,475           196,146          243,301          (73,860)         4,644,062
Operating expenses               3,922,922           137,435          232,285          (71,480)         4,221,162
Operating income                   355,553            58,711           11,016           (2,380)           422,900



   (All financial information has been prepared in accordance with accounting
         principles generally accepted in the United States of America)



2.  Geographic Information

(1) FY2006 third quarter (October 2005 through December 2005)

                                       (Amounts are rounded to the nearest million yen)
                           Japan       North      Europe       Asia       Others     Intersegment   Consolidated
                                      America                                        Elimination
Net revenues :
(1)   Sales to external   1,929,814   1,968,713     630,269     445,578     359,013             -      5,333,387
customers
(2)   Intersegment        1,446,028      58,287      36,356      55,480      57,384    (1,653,535)              -
sales and transfers
         Total            3,375,842   2,027,000     666,625     501,058     416,397    (1,653,535)      5,333,387
Operating expenses        3,094,729   1,899,165     639,968     462,470     401,726    (1,646,882)      4,851,176
Operating income            281,113     127,835      26,657      38,588      14,671        (6,653)        482,211





(2) FY2005 third quarter (October 2004 through December 2004)


                                        (Amounts are rounded to the nearest
million yen)
                          Japan       North       Europe        Asia       Others     Intersegment   Consolidated
                                     America                                          Elimination
Net revenues :
(1)   Sales to           1,846,872   1,557,782       588,804     377,916     272,688             -       4,644,062
external customers
(2)   Intersegment       1,171,448      37,971        43,038      19,786      25,535    (1,297,778)              -
sales and transfers
        Total            3,018,320   1,595,753       631,842     397,702     298,223    (1,297,778)      4,644,062
Operating expenses       2,780,960   1,467,980       605,282     372,609     289,813    (1,295,482)      4,221,162
Operating income           237,360     127,773        26,560      25,093       8,410        (2,296)        422,900




   (All financial information has been prepared in accordance with accounting
                    principles generally accepted in Japan)



UNCONSOLIDATED STATEMENTS OF INCOME


                                                 (Million yen; amounts less than one million yen are omitted)
                                           FY2006 third quarter    FY2005 third quarter                 Increase
                                          (October 2005 through   (October 2004 through                (Decrease)
                                                  December 2005)          December 2004)

Net sales                                              2,661,819               2,333,378                 328,441

Operating income                                         233,268                 145,299                  87,969
Ordinary income                                          352,364                 252,694                  99,670
Income before income taxes                               352,364                 252,694                  99,670
Income taxes - current                                   110,700                  83,200                  27,500
Income taxes - deferred                                  (3,405)                  13,734                (17,139)
Net income                                               245,069                 155,760                  89,309



UNCONSOLIDATED BALANCE SHEETS

                                                 (Million yen; amounts less than one million yen are omitted)
                                             FY2006 third quarter                  FY2005               Increase
                                          (As of December 31,2005)   (As of March 31,2005)             (Decrease)
                 Assets
Current assets                                          3,249,499               3,453,441               (203,942)
          Cash, deposits and trade                      1,120,687               1,149,011                (28,324)
accounts receivable
          Marketable securities                           814,611                 870,735                (56,124)
          Others                                        1,314,200               1,433,694               (119,494)
Fixed assets                                            6,008,235               5,617,550                 390,685
    Property, plant and equipment                       1,264,536               1,258,835                   5,701
          Buildings, machinery and                        685,889                 685,683                     206
equipment
          Others                                          578,647                 573,151                   5,496
Investments and other assets                            4,743,699               4,358,714                 384,985
          Investments in securities                     2,255,307               1,817,556                 437,751
          Others                                        2,488,392               2,541,158                (52,766)
              Total assets                              9,257,735               9,070,991                 186,744


                                              FY2006 third quarter                 FY2005                Increase
                                           (As of December 31,2005)  (As of March 31,2005)              (Decrease)
              Liabilities
Current liabilities                                     1,918,339               2,180,374               (262,035)
Long-term liabilities                                     835,471                 832,806                   2,665
Total liabilities                                       2,753,811               3,013,181               (259,370)

          Shareholders' equity
Common stock                                              397,049                 397,049                       -
Capital surplus                                           416,970                 416,970                       -

Retained earnings                                       6,377,728               6,094,528                 283,200
Net unrealized gains on other securities                  501,107                 279,780                 221,327
Less: treasury stock                                  (1,188,933)             (1,130,519)                (58,414)
Total shareholders' equity                              6,503,923               6,057,810                 446,113

  Total liabilities and shareholders'                   9,257,735               9,070,991                 186,744
                 equity






                      This information is provided by RNS
            The company news service from the London Stock Exchange