FY2007 Financial Results

Toyota Motor Corporation
09 May 2007

                                                           For immediate release

                                                                     May 9, 2007



                  Toyota Announces Year-End Financial Results

       Achieves Record High Net Revenues, Operating Income and Net Income

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


Tokyo - TOYOTA MOTOR CORPORATION (TMC) today announced operating results
for the fiscal year ended March 31, 2007.


On a consolidated basis, net revenues for the fiscal year ended March 31, 2007
totaled 23.94 trillion yen, an increase of 13.8 percent compared to the last
fiscal year.  Operating income increased 19.2 percent to 2.23 trillion yen, and
income before income taxes, minority interest and equity in earnings of
affiliated companies increased 14.1 percent to 2.38 trillion yen.  Net income
increased 19.8 percent to 1.64 trillion yen.  All of these figures marked record
highs.


Positive contributions to operating income totaled 720.0 billion yen, consisting
of 330.0 billion yen from marketing efforts, 290.0 billion yen from the positive
effects of changes in foreign exchange rates and 100.0 billion yen from cost
reduction efforts.  Negative factors totaled 359.7 billion yen.


Commenting on the results, TMC President Katsuaki Watanabe said, 'For fiscal
year 2007, Toyota posted record consolidated results across the board.  We
believe our continuous efforts to support global growth have steadily
contributed to our record net revenues, operating income and net income.'


TMC also announced a second-half cash dividend for the six months ended March
31, 2007 of 70 yen, an increase of 15 yen per share over the same period last
fiscal year.  Total dividend payout for the full year was 120 yen per share, an
increase of 30 yen year-on-year.  TMC has increased its annual dividend eight
consecutive times.


Watanabe added, 'As a result, our dividend payout ratio will improve from 21.3%
to 23.4%, marking steady progress toward our 30% target'.


In fiscal year 2007, Toyota's consolidated vehicle sales for the period reached
8.52 million units, an increase of 550 thousand units compared to the last
fiscal year.


In Japan, vehicle sales decreased by 91 thousand units over the same period last
year, to 2.27 million units.  While sales of certain existing models declined,
sales of the redesigned Corolla and new models such as the Auris, Blade and
Lexus LS were favorable.  Toyota's market share excluding mini-vehicles grew by
1.5 percent compared to the same period last year, to 45.8 percent.  Operating
income from Japanese operations increased by 381.3 billion yen over the same
period last year, to 1.45 trillion yen, mainly due to an increase in production
volume.


In North America, vehicle sales reached 2.94 million units, an increase of 386
thousand units, due to strong sales of models redesigned last year such as the
RAV4 and Camry and the new models FJ Cruiser and Yaris.  Operating income
decreased by 46.0 billion yen, to 449.6 billion yen.  This is mainly due to
temporary expenses such as costs associated with the start up of the Texas
plant, as well as the recording of valuation losses on interest rate swaps.


In Europe, led by strong sales of compact models such as the Yaris and Aygo,
vehicle sales increased by 201 thousand units, to 1.22 million units.  Operating
income from European operations increased by 43.4 billion yen, to 137.3 billion
yen.  The increase in operating income was mainly due to strong sales of core
models.


In Asia, sales decreased by 91 thousand units, to 789 thousand units, as a
result of weak market conditions mainly in Indonesia and Taiwan.  Operating
income from Asian operations decreased by 27.9 billion yen, to 117.6 billion
yen.


In other regions, including Central and South America, Oceania and Africa,
vehicle sales increased to 1.29 million units, an increase of 145 thousand
units, due to continuing popularity of the IMV series in Central and South
America and the Camry in Oceania.  Operating income in these regions increased
by 16.3 billion yen, to 83.5 billion yen.


TMC estimates that the consolidated vehicle sales for the fiscal year ending
March 31, 2008 will be 8.89 million units.


TMC also announced its consolidated financial forecast for the fiscal year
ending March 31, 2008.  Based on an exchange rate of 115 yen to the U.S. dollar
and 150 yen to the euro, TMC forecasts consolidated net revenues of 25.00
trillion yen, operating income of 2.25 trillion yen and net income of 1.65
trillion yen.


Watanabe concluded by commenting on the outlook for profitability.  'We aim to
exceed last year's earnings by increasing sales volume and reducing cost, while
investing for future growth.'


(Please see attached information for details on financial results. Further
information is also available on the Internet at www.toyota.co.jp)


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Cautionary Statement with Respect to Forward-Looking Statements

This release 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.


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