Interim Results 3/5

Toyota Motor Corporation
04 November 2005


                FY2006 Semi-Annual Consolidated Financial Results

                   (April 1, 2005 through September 30, 2005)

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

        English translation from the original Japanese-language document

                                                                                 November 4, 2005
Company name                           : Toyota Motor Corporation
Stock exchanges on which the shares    : Tokyo, Nagoya, Osaka, Fukuoka and Sapporo
are listed                             Stock Exchanges in Japan
Code number                            : 7203
Location of the head office            : Aichi Prefecture
URL                                    : http://www.toyota.co.jp
Representative                         : Katsuaki Watanabe, President
Contact person                         : Masaki Nakatsugawa, General Manager, Accounting
                                       Division
                                       Tel. [phone]
Date of the meeting of the Board of    : November 4, 2005
Directors for FY2006 semi-annual
financial results
Whether or not to be prepared in       : Yes
accordance with accounting principles
generally accepted in the United
States of America

Results of FY2006 Semi-Annual (April 1, 2005 through September 30, 2005)

(1) Consolidated financial results
                                                                   (Amounts are
rounded to the nearest million yen)
+------------------+-------------------------+------------------------+--------------------------+
|                  |      Net revenues       |    Operating income    |   Income before income   |
|                  |                         |                        | taxes, minority interest |
|                  |                         |                        |and equity in earnings of |
|                  |                         |                        |   affiliated companies   |
+------------------+------------+------------+------------+-----------+-------------+------------+
|                  | Million yen|           %| Million yen|          %|  Million yen|           %|
+------------------+------------+------------+------------+-----------+-------------+------------+
|FY2006 semi-annual|   9,953,160|      <10.3>|     809,491|     <-6.6>|      855,997|      <-6.3>|
+------------------+------------+------------+------------+-----------+-------------+------------+
|FY2005 semi-annual|   9,025,665|       <9.7>|     866,249|     <12.8>|      913,215|      <12.5>|
+------------------+------------+------------+------------+-----------+-------------+------------+
|FY2005            |  18,551,526|            |   1,672,187|           |    1,754,637|            |
+------------------+------------+------------+------------+-----------+-------------+------------+

+------------------+-------------------------+-----------------------+------------------------+
|                  |       Net income        | Net income per share  |  Net income per share  |
|                  |                         |        - basic        |       - diluted        |
+------------------+------------+------------+-----------------------+------------------------+
|                  | Million yen|           %|                    Yen|                     Yen|
+------------------+------------+------------+-----------------------+------------------------+
|FY2006 semi-annual|     570,520|      <-2.3>|                 175.13|                  175.10|
+------------------+------------+------------+-----------------------+------------------------+
|FY2005 semi-annual|     584,038|      <11.4>|                 176.32|                  176.28|
+------------------+------------+------------+-----------------------+------------------------+
|FY2005            |   1,171,260|            |                 355.35|                  355.28|
+------------------+------------+------------+-----------------------+------------------------+
Note 1:   Equity in earnings of affiliated companies: FY2006 semi-annual  70,642
million yen, FY2005 semi-annual  58,813 million yen, FY2005  139,471 million
yen.
Note 2:   Average number of shares issued and outstanding in each period
(consolidated): FY2006 semi-annual  3,257,622,639 shares, FY2005 semi-annual
3,312,441,907 shares, FY2005  3,296,092,000 shares.
Note 3:   Regarding net revenues, operating income, income before income taxes,
minority interest and equity in earnings of affiliated companies and net income,
the figures in parentheses show percentage of changes from the corresponding
period of the preceding year.

(2) Consolidated financial position
+-----------------+-----------------+------------------+------------------+------------------+
|                 |  Total assets   |  Shareholders'   |     Ratio of     |  Shareholders'   |
|                 |                 |      equity      |  shareholders'   | equity per share |
|                 |                 |                  |      equity      |                  |
+-----------------+-----------------+------------------+------------------+------------------+
|                 |      Million yen|       Million yen|                 %|               Yen|
+-----------------+-----------------+------------------+------------------+------------------+
|FY2006           |       26,257,592|         9,692,765|              36.9|          2,979.91|
|semi-annual      |                 |                  |                  |                  |
+-----------------+-----------------+------------------+------------------+------------------+
|FY2005           |       23,310,194|         8,542,076|              36.6|          2,602.72|
|semi-annual      |                 |                  |                  |                  |
+-----------------+-----------------+------------------+------------------+------------------+
|FY2005           |       24,335,011|         9,044,950|              37.2|          2,767.67|
+-----------------+-----------------+------------------+------------------+------------------+
Note:   Number of shares issued and outstanding at the end of each period
(consolidated): FY2006 semi-annual  3,252,699,944 shares, FY2005 semi-annual
3,281,975,074 shares, FY2005  3,268,078,939 shares.

(3) Consolidated cash flows
+-----------------+-----------------+-----------------+-----------------+------------------+
|                 | From operating  | From investing  | From financing  |  Cash and cash   |
|                 |   activities    |   activities    |   activities    |equivalents at the|
|                 |                 |                 |                 |end of the period |
+-----------------+-----------------+-----------------+-----------------+------------------+
|                 |      Million yen|      Million yen|      Million yen|       Million yen|
+-----------------+-----------------+-----------------+-----------------+------------------+
|FY2006           |        1,339,458|      (1,650,783)|          489,964|         1,695,897|
|semi-annual      |                 |                 |                 |                  |
+-----------------+-----------------+-----------------+-----------------+------------------+
|FY2005           |        1,401,134|      (1,793,452)|          151,569|         1,528,243|
|semi-annual      |                 |                 |                 |                  |
+-----------------+-----------------+-----------------+-----------------+------------------+
|FY2005           |        2,370,940|      (3,061,196)|          419,384|         1,483,753|
+-----------------+-----------------+-----------------+-----------------+------------------+

              

                 FY2006 Semi-Annual Consolidated Financial Results

                   (April 1, 2005 through September 30, 2005)

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

        English translation from the original Japanese-language document

(4) Scope of consolidation and equity method

Number of consolidated              529 companies
subsidiaries
Number of affiliated companies      220 companies
Number of affiliated companies       57 companies
accounted for under the equity
method

(5) Changes in scope of consolidation and equity method

Consolidated subsidiaries
(increase)            9 companies OOO 'TOYOTA MOTOR MANUFACTURING RUSSIA', etc.
(decrease)            4 companies OSAKA TOYOPET SEIBI CO.,
                                  Daihatsu Tokyo Tama Hanbai CO.Ltd, etc.
Affiliated company accounted for under the equity method
(increase)              1 company FAW Toyota Changchun Engine Co.,Ltd
(decrease)                   None







              FY2006 Semi-Annual Unconsolidated Financial Results

                   (April 1, 2005 through September 30, 2005)

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

        English translation from the original Japanese-language document

                                                                November 4, 2005
Company name                           : Toyota Motor Corporation
Stock exchanges on which the shares    : Tokyo, Nagoya, Osaka, Fukuoka and Sapporo
are listed                             Stock Exchanges in Japan
Code number                            : 7203
Location of the head office            : Aichi Prefecture
URL                                    : http://www.toyota.co.jp
Representative                         : Katsuaki Watanabe, President
Contact person                         : Masaki Nakatsugawa, General Manager,
                                       Accounting Division
                                       Tel. [phone]
Date of the meeting of the Board of    : November 4, 2005
Directors for FY2006 semi-annual
financial results
Provision for interim cash dividends   : Provision exists.
Payment date of interim cash dividends : November 25, 2005
Number of shares in unit share system  : 100 shares

1. Results of FY2006 Semi-Annual  (April 1, 2005 through September 30, 2005)

(1) Unconsolidated financial results
                                                   (Amounts less than one
million yen are omitted)
+--------------------+-----------------------+---------------------+----------------------+
|                    |       Net sales       |  Operating income   |   Ordinary income    |
+--------------------+--------------+--------+------------+--------+-------------+--------+
|                    |   Million yen|       %| Million yen|       %|  Million yen|       %|
+--------------------+--------------+--------+------------+--------+-------------+--------+
|FY2006 semi-annual  |     4,664,015|   <4.6>|     297,657| <-24.1>|      416,610|  <-5.8>|
+--------------------+--------------+--------+------------+--------+-------------+--------+
|FY2005 semi-annual  |     4,459,736|   <3.7>|     392,395| <-14.5>|      442,382| <-13.4>|
+--------------------+--------------+--------+------------+--------+-------------+--------+
|FY2005              |     9,218,386|        |     701,390|        |      856,231|        |
+--------------------+--------------+--------+------------+--------+-------------+--------+

+--------------------+-----------------------+---------------------+
|                    |      Net income       |Net income per share |
+--------------------+--------------+--------+---------------------+
|                    |   Million yen|       %|                  Yen|
+--------------------+--------------+--------+---------------------+
|FY2006 semi-annual  |       283,675|   <7.6>|                87.08|
+--------------------+--------------+--------+---------------------+
|FY2005 semi-annual  |       263,740| <-22.0>|                79.61|
+--------------------+--------------+--------+---------------------+
|FY2005              |       529,329|        |               160.38|
+--------------------+--------------+--------+---------------------+
Note 1: Average number of shares issued and outstanding in each period:
                 FY2006 semi-annual           3,257,622,639 shares
                 FY2005 semi-annual           3,312,622,503 shares
                 FY2005                       3,296,182,405 shares
Note 2: Regarding net sales, operating income, ordinary income and net income,
the figures in parentheses show percentage of changes from the corresponding
period of the preceding year.

(2) Cash dividends
+--------------------+---------------------+---------------------+ 
|                    |    Interim cash     |Annual cash dividends|  
|                    | dividends per share |      per share      |  
|                    |                     |                     | 
|                    |                     |                     |  
+--------------------+---------------------+---------------------+ 
|                    |                  Yen|                     | 
+--------------------+---------------------+                     | 
|FY2006 semi-annual  |                35.00|                     | 
+--------------------+---------------------+                     | 
|FY2005 semi-annual  |                25.00|                     | 
+--------------------+---------------------+---------------------+ 
|                    |                     |                  Yen| 
+--------------------+                     +---------------------+ 
|FY2005              |                     |                65.00|  
+--------------------+---------------------+---------------------+ 

(3) Unconsolidated financial position
+--------------------+----------------+----------------+----------------+----------------+
|                    |  Total assets  | Shareholders'  |    Ratio of    | Shareholders'  |
|                    |                |     equity     | shareholders'  |equity per share|
|                    |                |                |     equity     |                |
+--------------------+----------------+----------------+----------------+----------------+
|                    |     Million yen|     Million yen|               %|             Yen|
+--------------------+----------------+----------------+----------------+----------------+
|FY2006 semi-annual  |       9,184,453|       6,269,166|            68.3|        1,927.37|
+--------------------+----------------+----------------+----------------+----------------+
|FY2005 semi-annual  |       8,670,755|       5,916,848|            68.2|        1,802.83|
+--------------------+----------------+----------------+----------------+----------------+
|FY2005              |       9,070,991|       6,057,810|            66.8|        1,853.42|
+--------------------+----------------+----------------+----------------+----------------+
Note 1: Number of shares issued and outstanding at the end of each period:
              FY2006 semi-annual           3,252,699,944 shares
              FY2005 semi-annual           3,281,975,345 shares
              FY2005                       3,268,078,939 shares
Note 2: Number of treasury stock at the end of each period:
              FY2006 semi-annual           357,297,548 shares
              FY2005 semi-annual           328,022,147 shares
              FY2005                       341,918,553 shares


              FY2006 Semi-Annual Unconsolidated Financial Results

                   (April 1, 2005 through September 30, 2005)

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

        English translation from the original Japanese-language document

2. Unconsolidated estimate of results of FY2006 (April 1, 2005 through March 31, 2006)
+---------------------------+------------------+------------------+------------------+
|                           |    Net sales     | Ordinary income  |    Net income    |
+---------------------------+------------------+------------------+------------------+
|                           |       Million yen|       Million yen|       Million yen|
+---------------------------+------------------+------------------+------------------+
|FY2006                     |        10,100,000|           980,000|           670,000|
+---------------------------+------------------+------------------+------------------+

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.

END

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