Final Results 5/6

Toyota Motor Corporation 10 May 2005 Supplementary Material for Financial Results for the 12 months ended March 31, 2005 (Consolidated) (U.S. GAAP) FY2004 FY2005 FY2006 (Note 1) (Note 1) FY2004 (Note 1) (Note 1) FY2005 Prospects 1st Half 3Q 4Q 2nd Half 12 mos. 1st Half 3Q 4Q 2nd Half 12 mos. ending ending Ending March 31, March 31, March 31, 2004 2005 2006 Vehicle Production 3,064 1,672 1,777 3,449 6,513 3,469 1,805 1,957 3,762 7,231 (thousands of units) (Japan) 2,022 1,100 1,162 2,262 4,284 2,177 1,115 1,242 2,357 4,534 including Daihatsu & Hino (Daihatsu) (297) (163) (179) (342) (639) (327) (173) (192) (365) (692) (Hino) (44) (21) (22) (43) (87) (48) (23) (22) (45) (93) (Overseas) 1,042 572 615 1,187 2,229 1,292 690 715 1,405 2,697 including Daihatsu & Hino (Daihatsu) (10) (6) (8) (14) (24) (26) (13) (15) (28) (54) (Hino) (-) (-) (-) (-) (-) (-) (-) (-) (-) (-) North America 489 259 286 545 1,034 575 271 310 581 1,156 Europe 230 137 148 285 515 283 156 157 313 596 Asia 184 109 109 218 402 281 190 176 366 647 Latin America 31 17 19 36 67 42 18 22 40 82 Oceania 59 29 27 56 115 57 25 24 49 106 Africa 49 21 26 47 96 54 30 26 56 110 FY2004 FY2005 FY2006 (Note 1)(Note 1) FY2004 (Note 1)(Note 1) FY2005 Prospects 1st Half 3Q 4Q 2nd Half 12 mos. 1st Half 3Q 4Q 2nd Half 12 mos. ending ending Ending March 31, March 31, March 31, 2004 2005 2006 Vehicle Sales 3,170 1,700 1,849 3,549 6,719 3,567 1,839 2,002 3,841 7,408 7,850 (thousands of units) (Japan) 1,081 554 668 1,222 2,303 1,106 573 702 1,275 2,381 2,450 including Daihatsu & Hino (Daihatsu) (240) (118) (155) (273) (513) (257) (129) (165) (294) (551) (590) (Hino) (25) (12) (14) (26) (51) (24) (12) (15) (27) (51) (60) (Overseas) 2,089 1,146 1,181 2,327 4,416 2,461 1,266 1,300 2,566 5,027 5,400 including Daihatsu & Hino (Daihatsu) (48) (27) (35) (62) (110) (73) (39) (41) (80) (153) (160) (Hino) (17) (8) (11) (19) (36) (23) (11) (11) (22) (45) (50) North America 1,005 561 537 1,098 2,103 1,126 576 569 1,145 2,271 2,430 Europe 441 218 239 457 898 476 249 254 503 979 1,040 Asia 250 147 160 307 557 386 195 252 447 833 870 Latin America 69 36 41 77 146 91 47 47 94 185 220 Oceania 117 60 59 119 236 125 56 58 114 239 250 Africa 74 40 77 117 191 108 64 52 116 224 250 the Middle East 133 84 68 152 285 149 79 68 147 296 340 and Others Total Retail Unit Sales 3,440 1,663 1,913 3,576 7,016 3,732 1,884 2,017 3,901 7,633 (thousands of units) Housing Sales (units) 2,169 1,442 1,141 2,583 4,752 2,194 1,443 1,646 3,089 5,283 FY2004 FY2005 FY2006 (Note 1)(Note 1) FY2004 (Note 1)(Note 1) FY2005 Prospects 1st Half 3Q 4Q 2nd Half 12 mos. 1st Half 3Q 4Q 2nd Half 12 mos. ending ending Ending March 31, March 31, March 2004 2005 31, 2006 Foreign Exchange Rate as premise: Yen to US Dollar Rate 118 109 107 108 113 110 106 105 105 108 105 Yen to Euro Rate 134 130 134 132 133 133 137 137 137 135 135 Registered Toyota Vehicles (in Japan) approximately (thousands of units) 808 407 514 921 1,729 814 430 511 941 1,755 1,800 Market Share (Japan) Toyota (excluding Mini-cars) approximately (%) 42.5 44.4 42.5 43.3 42.9 44.6 46.4 43.0 44.5 44.5 44% Toyota, Daihatsu and Hino (including Mini-cars) (%) 39.7 40.0 39.6 41.0 42.5 41.1 Number of Employees 265,532 264,410 269,310 265,753 (Note 2) FY2004 FY2005 FY2006 (Note 1)(Note 1) FY2004 (Note 1)(Note 1) FY2005 Prospects 1st Half 3Q 4Q 2nd Half 12 mos. 1st Half 3Q 4Q 2nd Half 12 mos. ending ending Ending March 31, March 31, March 31, 2004 2005 2006 Net Revenues (billions of yen) 8,224.2 4,386.0 4,684.5 9,070.5 17,294.7 9,025.6 4,644.0 4,881.9 9,525.9 18,551.5 Geographical Segment Japan 5,497.3 2,933.6 3,159.1 6,092.7 11,590.0 5,780.6 3,018.3 3,205.2 6,223.5 12,004.1 North America 3,014.1 1,603.7 1,509.8 3,113.5 6,127.6 3,189.7 1,595.7 1,588.0 3,183.7 6,373.4 Europe 1,032.3 514.3 617.7 1,132.0 2,164.3 1,201.3 631.8 646.3 1,278.1 2,479.4 Others 1,102.8 592.5 666.6 1,259.1 2,361.9 1,332.3 695.9 780.9 1,476.8 2,809.1 Elimination -2,422.3 -1,258.1 -1,268.7 -2,526.8 -4,949.1 -2,478.3 -1,297.7 -1,338.5 -2,636.2 -5,114.5 Business Segment Automotive 7,590.4 4,055.3 4,328.1 8,383.4 15,973.8 8,339.6 4,278.4 4,495.5 8,773.9 17,113.5 Financial Services 371.5 180.6 184.8 365.4 736.9 384.4 196.1 200.7 396.8 781.2 All Other 403.7 214.7 277.8 492.5 896.2 466.8 243.3 320.2 563.5 1,030.3 Elimination -141.4 -64.6 -106.2 -170.8 -312.2 -165.2 -73.8 -134.5 -208.3 -373.5 FY2004 FY2005 FY2006 (Note 1)(Note 1) FY2004 (Note 1)(Note 1) FY2005 Prospects 1st Half 3Q 4Q 2nd Half 12 mos. 1st Half 3Q 4Q 2nd Half 12 mos. ending ending Ending March March 31, March 31, 31, 2004 2005 2006 Operating Income (billions of yen) 767.7 401.6 497.5 899.1 1,666.8 866.2 422.9 383.0 805.9 1,672.1 (Operating Income Ratio) (%) (9.3) (9.2) (10.6) (9.9) (9.6) (9.6) (9.1) (7.8) (8.5) (9.0) Geographical Segment Japan 529.7 226.1 352.3 578.4 1,108.1 490.6 237.3 259.3 496.6 987.2 North America 163.6 128.2 99.2 227.4 391.0 244.7 127.8 75.0 202.8 447.5 Europe 22.5 24.7 25.3 50.0 72.5 66.3 26.5 15.7 42.2 108.5 Others 53.3 24.3 19.3 43.6 96.9 70.9 33.5 36.8 70.3 141.2 Elimination -1.4 -1.7 1.4 -0.3 -1.7 -6.3 -2.2 -3.8 -6.0 -12.3 Business Segment Automotive 702.6 347.8 468.6 816.4 1,519.0 756.8 355.5 340.2 695.7 1,452.5 Financial Services 61.7 52.3 32.0 84.3 146.0 102.7 58.7 39.4 98.1 200.8 All Other 6.0 5.5 3.7 9.2 15.2 12.7 11.0 10.0 21.0 33.7 Elimination -2.6 -4.0 -6.8 -10.8 -13.4 -6.0 -2.3 -6.6 -8.9 -14.9 Income before taxes (billions of yen) 812.0 429.7 524.0 953.7 1,765.7 913.2 447.1 394.3 841.4 1,754.6 (Income before taxes Ratio) (%) (9.9) (9.8) (11.2) (10.5) (10.2) (10.1) (9.6) (8.1) (8.8) (9.5) Equity in Earnings of Affiliated Companies (billions of yen) 41.0 38.1 41.1 79.2 120.2 58.8 39.3 41.3 80.6 139.4 Net Income (billions of yen) 524.4 286.4 351.2 637.6 1,162.0 584.0 296.5 290.7 587.2 1,171.2 (Net Income Ratio) (%) (6.4) (6.5) (7.5) (7.0) (6.7) (6.5) (6.4) (6.0) (6.2) (6.3) FY2004 FY2005 FY2006 (Note 1) (Note 1) FY2004 (Note 1) (Note 1) FY2005 Prospects 1st Half 3Q 4Q 2nd Half 12 mos. 1st Half 3Q 4Q 2nd Half 12 mos. Ending ending ending March 31, 2006 March 31, March 31, 2004 2005 Research & Development (billions of yen) 304.6 172.8 204.8 377.6 682.2 351.4 181.3 222.4 403.7 755.1 770.0 Depreciation (billions of yen) (Note 3) 376.7 180.5 230.9 411.4 788.1 392.1 184.1 199.6 383.7 775.8 830.0 Geographical Segment Japan 229.1 114.2 143.5 257.7 486.8 241.9 114.4 132.1 246.5 488.4 520.0 North America 92.9 39.4 44.2 83.6 176.5 88.5 37.7 26.8 64.5 153.0 150.0 Europe 28.3 14.4 23.7 38.1 66.4 35.1 16.4 19.8 36.2 71.3 80.0 Others 26.4 12.5 19.5 32.0 58.4 26.6 15.6 20.9 36.5 63.1 80.0 Capital Expenditures (billions of yen) (Note 3) 421.4 196.9 339.4 536.3 957.7 500.6 207.4 379.2 586.6 1,087.2 1,250.0 Geographical Segment Japan 243.7 123.5 197.7 321.2 564.9 281.7 128.6 264.7 393.3 675.0 770.0 North America 92.0 30.0 87.9 117.9 209.9 90.6 30.7 32.4 63.1 153.7 220.0 Europe 42.9 17.9 26.9 44.8 87.7 31.6 15.8 25.3 41.1 72.7 110.0 Others 42.8 25.5 26.9 52.4 95.2 96.7 32.3 56.8 89.1 185.8 150.0 Total Liquid Assets (billions of yen) (Note 4) 3,167.6 3,229.8 3,415.9 3,521.7 Free Cash Flow (billions of yen) (Note 5) 1.0 949.9 -70.3 152.1 Total Assets (billions of yen) 20,777.1 21,086.2 22,040.2 23,310.1 23,119.1 24,335.0 Shareholders' Equity (billions of yen) 7,572.4 7,638.2 8,178.6 8,542.0 8,718.7 9,045.0 Return on Equity (%) 14.3 15.1 15.2 14.0 13.7 13.6 Return on Asset (%) 5.1 5.5 5.5 5.2 5.1 5.1 Number of Consolidated Subsidiaries 561 554 540 524 Number of Affiliates Accounted for Under the Equity Method 54 53 56 56 Contributing Factors to Operating Income FY2005 (billions of yen, approximately) Consolidated Unconsolidated Subsidiaries Marketing Efforts 230.0 60.0 170.0 Cost Reduction Efforts 160.0 90.0 70.0 From Engineering 100.0 70.0 30.0 From Manufacturing and Logistics 60.0 20.0 40.0 Unfavorable Foreign Exchange Rate -140.0 -120.0 -20.0 Decrease in DAIKO HENJO -59.8 0.0 -59.8 Increases in R&D Expenses, etc. -184.9 -162.4 -22.5 (Note 1) 2Q = 1st Half - 1Q , 2nd Half = FY - 1st Half , 4Q = 2nd Half - 3Q (Note 2) Part-time employees (i.e. seasonal workers) are counted in the figure, along with full-time employees. (Note 3) Figures for depreciation and capital expenditures do not include vehicles in operating lease. (Note 4) Excluding financial subsidiaries (Note 5) Calculation: Cash flows from operating activities + Cash flows from investing activities (excluding financial entities) Cautionary Statement with Respect to Forward-Looking Statements This report contains forward-looking statements that reflect Toyota's plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include: (i) changes in economic conditions and market demand affecting, and the competitive environment in, the automotive markets in Japan, North America, Europe and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the Euro, the Australian dollar and the British pound; (iii) Toyota's ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (iv) changes in the laws, regulations and government policies in the markets in which Toyota operates that affect Toyota's automotive operations, particularly laws, regulations and policies relating to trade, environmental protection, vehicle emissions, vehicle fuel economy and vehicle safety, as well as changes in laws, regulations and government policies that affect Toyota's other operations, including the outcome of future litigation and other legal proceedings; (v) political instability in the markets in which Toyota operates; (vi) Toyota's ability to timely develop and achieve market acceptance of new products; and (vii) fuel shortages or interruptions in transportation systems, labor strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold. A discussion of these and other factors which may affect Toyota's actual results, performance, achievements or financial position is contained in Toyota's annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission. Supplementary Material for Financial Results for the 12 months ended March 31, 2005 (Unconsolidated) (Japan GAAP) FY2002 FY2003 6 mos. ending 12 mos. ending 6 mos. ending 12 mos. ending Sep. 30, 2001 March 31, 2002 Sept. 30, 2002 March 31, 2003 Vehicle Production (thousands of units) 1,644 3,364 1,676 3,513 Vehicle Sales (thousands of units) 1,674 3,428 1,691 3,559 Japan 850 1,720 800 1,724 Exports 824 1,708 891 1,835 North America 353 754 414 841 Europe 200 425 182 392 Asia 58 106 80 165 Latin America 52 93 34 71 Oseania 58 116 71 137 Others 103 214 110 229 Net Sales (billions of yen) 4,011.9 8,284.9 4,204.7 8,739.3 Japan 1,767.3 3,544.3 1,607.3 3,438.4 Exports 2,244.5 4,740.6 2,597.4 5,300.8 Operating Income (billions of yen) 354.2 748.9 471.3 861.3 (Operating Income Ratio) (%) (8.8) (9.0) (11.2) (9.9) Ordinary Income (billions of yen) 347.1 768.9 481.7 892.6 (Ordinary Income Ratio) (%) (8.7) (9.3) (11.5) (10.2) Net Income (billions of yen) 203.5 470.2 382.2 634.0 (Net Income Ratio) (%) (5.1) (5.7) (9.1) (7.3) Shareholders Return Dividend Payout (billions of yen) 47.4 101.5 56.8 125.8 Dividend Per Share (yen) 13 28 16 36 Payout Ratio (%) 23.3 21.6 14.9 19.8 Value of shares canceled (billions of yen) 129.2 129.2 143.0 143.0 Value of shares repurchased (billions of 129.2 277.5 163.3 453.4 yen) Number of Outstanding Shares (thousands) 3,649,997 3,649,997 3,609,997 3,609,997 Number of Employees (Note 2) 65,029 66,820 66,874 65,551 FY2004 FY2005 FY2006 6 mos. 12 mos. 6 mos. 12 mos. prospects prospects ending ending ending ending for for Sept. 30, March 31, Sept.30, March 31, 6 mos. 12 mos. 2003 2004 2004 2005 ending ending Sept.30, March 31, 2005 2006 Vehicle Production (thousands of units) 1,682 3,558 1,802 3,749 1,800 3,770 Vehicle Sales (thousands of units) 1,720 3,625 1,805 3,787 1,820 3,820 Japan 830 1,765 838 1,805 820 1,830 Exports 890 1,860 967 1,982 1,000 1,990 North America 398 811 412 864 480 1,000 Europe 198 419 197 420 160 350 Asia 71 151 82 151 70 130 Latin America 28 61 38 78 40 60 Oseania 78 158 89 164 80 150 Others 117 260 149 305 170 300 Net Sales (billions of yen) 4,302.1 8,963.7 4,459.7 9,218.3 4,500.0 9,400.0 Japan 1,667.5 3,593.1 1,723.0 3,654.9 Exports 2,634.5 5,370.5 2,736.7 5,563.4 Operating Income (billions of yen) 459.1 833.7 392.3 701.3 290.0 620.0 (Operating Income Ratio) (%) (10.7) (9.3) (8.8) (7.6) (6.4) (6.6) Ordinary Income (billions of yen) 510.5 915.7 442.3 856.2 330.0 770.0 (Ordinary Income Ratio) (%) (11.9) (10.2) (9.9) (9.3) (7.3) (8.2) Net Income (billions of yen) 338.0 581.4 263.7 529.3 220.0 500.0 (Net Income Ratio) (%) (7.9) (6.5) (5.9) (5.7) (4.9) (5.3) Shareholders Return Dividend Payout (billions of yen) 67.9 151.2 82.0 212.7 Dividend Per Share (yen) 20 45 25 65 Payout Ratio (%) 20.1 26.0 31.1 40.5 Value of shares canceled (billions of yen) - - - - Value of shares repurchased (billions of 161.7 398.8 208.4 266.2 yen) Number of Outstanding Shares (thousands) 3,609,997 3,609,997 3,609,997 3,609,997 Number of Employees (Note 2) 66,099 65,346 64,408 64,237 (Note 1) 2Q = 1st Half - 1Q , 2nd Half = FY - 1st Half , 4Q = 2nd Half - 3Q (Note 2) Part-time employees (i.e. seasonal workers) are counted in the figure, along with full-time employees. (Note 3) Figures for depreciation and capital expenditures do not include vehicles in operating lease. (Note 4) Excluding financial subsidiaries (Note 5) Calculation: Cash flows from operating activities + Cash flows from investing activities (excluding financial entities) Cautionary Statement with Respect to Forward-Looking Statements This report contains forward-looking statements that reflect Toyota's plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include: (i) changes in economic conditions and market demand affecting, and the competitive environment in, the automotive markets in Japan, North America, Europe and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the Euro, the Australian dollar, and the British pound; (iii) Toyota's ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (iv) changes in the laws, regulations and government policies in the markets in which Toyota operates that affect Toyota's automotive operations, particularly laws, regulations and policies relating to trade, environmental protection, vehicle emissions, vehicle fuel economy and vehicle safety, as well as changes in laws, regulations and government policies that affect Toyota's other operations, including the outcome of future litigation and other legal proceedings; (v) political instability in the markets in which Toyota operates; (vi) Toyota's ability to timely develop and achieve market acceptance of new products; and (vii) fuel shortages or interruptions in transportation systems, labor strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold. A discussion of these and other factors which may affect Toyota's actual results, performance, achievements or financial position is contained in Toyota's annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission. This information is provided by RNS The company news service from the London Stock Exchange

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