3rd Quarter Results 4/6

Toyota Motor Corporation
07 February 2006


                                                                February 7, 2006

                     Highlights of Consolidated Financial Results
                               for FY2006 Third Quarter

                  (October 1, 2005 through December 31, 2005)

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

                                                 (Billions of yen unless otherwise specified)

                                     FY2005 Third Quarter  FY2006 Third Quarter                    FY2006 Forecast
                                      (Oct. 2004 through    (Oct. 2005 through    % of change   (Apr. 2005 through
                                          Dec. 2004)            Dec. 2005)        from FY2005        Mar. 2006)
                                                                                     Third
                                                                                    Quarter

Vehicle sales                                  1,839                   1,980         7.6%                   7,950
(Thousand units)

Net revenues                                 4,644.0                 5,333.3        14.8%

Operating income                               422.9                   482.2        14.0%
                                <9.1%>                  <9.0%>

Income before income taxes,                    447.1                   639.9
minority interest and equity in
earnings of affiliated                        <9.6%>                 <12.0%>        43.1%
companies


Net income                                     296.5                   397.5        34.1%
                                <6.4%>                  <7.5%>

Factors contributing to                                 Operating income increased by
increases and decreases in
operating income                                               59.3 billion yen
                                                     (Increase)
                                                     Effects of changes in
                                                     exchange rates                 130.0
                                                     Marketing efforts               60.0
                                                     Cost reduction efforts          30.0

                                                     (Decrease)
                                                     Decrease in the gains
                                                     recognized on the
                                                     transfer
                                                     of the substitutional
                                                     portion
                                                     of the employee pension        -28.5
                                                     fund to the Government        -132.2
                                                     Increases in expenses

Exchange rates                            JPY106/US$ JPY117/US$
                                         JPY137/Euro JPY139/Euro

Capital investment                             207.4                365.0                                 1,400.0
(excluding leased vehicles)

Depreciation expenses                          184.1                236.2                                   880.0

Performance evaluation                               Increases in net revenues, operating
                                                     income, income before income taxes,
                                                     minority interest and equity in
                                                     earnings of affiliated companies,
                                                     and net income

Note:     Toyota prepares its consolidated financial statements in accordance
with accounting principles generally accepted in the United States of America.



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.




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